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

Brighton apartments

A collection of fully-furnished apartments in Fifty Two Black, the recently completed Brighton apartment development by luxury developer PB&amp;CO., are set to hit the market.

The fully-furnished Residence Two, spanning 452 sqm, and the 490 sqm penthouse, will be the apartments up for sale. The penthouse would achieve a record price per sqm for Brighton if it sells at it's $10 million price tag.

Residence Two is being pitched to investors as a high-yielding, short-stay letting opportunity, with expectations it could rent for $5,500 a night on a holiday letting service.

The weekly rent is estimated at $8,500 per week on a 12 month lease, which would be&nbsp;930 per cent more than Brighton’s current average apartment rental price.

[smartcode_project:default project_id=106713 project_image_fid=213834]

With interiors designed by internationally acclaimed New York designer Meg Sharpe and architecture led by Australia’s renowned architectural practice, Nicholas Day Architects and New York’s award- winning Gregory Tuck, the design of Fifty Two Black is inspired by the relaxed elegance of its prestigious bayside location.

In an exclusive collaboration between PB&amp;Co. and the world’s leading luxury home furnishings purveyor, RH Contract (formerly Restoration Hardware), Fifty Two Black is the first residential collection in Australia to be exclusively styled with soft furnishings, fittings and fixtures exclusively from RH Contract, and curated by Meg Sharpe.

Every piece of furniture, art, the bed linen, even the soap dispensers in the bathrooms, is from the RH collection. Notable fixtures include a Costera leather sofa designed by American Jason Chauncey, a hand woven, 100 per cent silk pile rug and a 60 inch Art Deco chandelier from renowned lighting designer Ian K. Fowler.

[smartcode_project:default project_id=106713 project_image_fid=213833]

Fifty Two Black is the newest elite residential and lifestyle destination with bespoke furnishings by the inimitable RH. The collaboration grants entry into an aspirational world of elevated luxury experiences, with pieces from world-renowned artisans that are anchored in style and superior craftmanship. The bespoke styled interiors with RH furnishings come together beautifully, elevating each carefully sculpted residence at Fifty Two Black.

With over $3 million invested in bespoke interiors and furnishings across all five residences, and over $1 million worth of imported marble, the decadent Fifty Two Black is set to transform Australia’s luxury residential market, with even the bathrobes and slippers included for the duration of a tenant’s or purchaser’s stay.

Residences at Fifty Two Black range from 293sqm – 490sqm in total, and each is fitted with three bedrooms, three bathrooms, two living areas, three or four car spaces and generous terraces that offer sweeping views afforded by the luxury bayside address.

[smartcode_project:default project_id=106713 project_image_fid=213835]

Michael Pesochinsky, president of PB&amp;Co., said the team is proud to bring this world-class offering to Melbourne, speaking to the new levels of luxury the decadent residences will bring to market, providing Melbourne’s elite with access to a living experience reminiscent of a world class hotel.

“At Fifty Two Black, we are welcoming guests into a fully immersive residential and lifestyle experience that is unlike anything else in Australia,"&nbsp;Pesochinsky said.

“PB&amp;Co.’s brand vision is, and always has been, to facilitate effortless luxury and elevated experiences for our residents. At Fifty Two Black, we believe we have delivered a world-class project that will change how the Australian property market looks at real estate.

“The model blends the service and detail of a hotel, down to the bathrobes, stocked linen and even the crockery, all awaiting our clients’ arrival, with the design and quality of a global standard of residential property design.

“From the moment our residents arrive, Fifty Two Black is an immersive experience, captivating its visitors in a world of heightened grandeur and elegance that is defined by the hand-selected luxury detail afforded by the exquisite RH Contract furnishings.

“ Each residence has been finished to the highest quality, creating a new standard for the premium leasing and residential sales market. Bespoke elements have been carefully considered to create a luxury experience, from the custom mosaic flooring imported and laid by artisans, to the floor to ceiling marble panelled bathrooms, no detail has been spared.”

“Melbourne’s elite will be able to step into the curated world of New York based interior designer Meg Sharpe and RH Contract, and experience the uncompromising luxury that has been curated by our world class team,” he said.

[smartcode_project_cta:default project_id=106713]

Michael Pesochinsky, president of PB&Co., said the team is proud to bring this world-class offering to Melbourne




alisonwarters@gmail.com

Fifty Two Black apartments in Brighton to break records

Established by Nick McKimm in 1991, holistic architecture, construction and property developers mckimm, have been a stalwart in Melbourne's bayside area for over three decades.

Having completed a number of projects in the sought after suburb of Brighton, including Luce, Casa, Otto, last year they finished Nero.

Located at 27 Black Street, the project of just eight house-sized apartments has just one unit remaining, priced at $3 million.

[smartcode_project:default project_id=22347 project_image_fid=41750]

The remaining completed residence sits alongside a small collection of apartments and penthouses, which range in size from 221 sqm through to 285 sqm, boasting spacious bedrooms and living spaces, with a refinement and practicality at the core of the design.&nbsp;&nbsp;

The interiors of Nero seamlessly blend design with the surrounding landscape, with natural materials adorning the spaces. From luxury appliances to custom finishes exclusive to Nero, every detail has been carefully curated to reflect the essence of the Brighton locale.

Situated just moments away from the vibrant Church Street in Brighton, Nero is positioned near Melbourne's finest cafes, restaurants, and amenities.

[smartcode_project:default project_id=22347 project_image_fid=41752]

With Middle Brighton Station a mere 100 meters from the development, commuting to the CBD, located 11 kilometres away, is effortless.

Residents can also enjoy the proximity to iconic landmarks such as Brighton's renowned beach bathing boxes, Dendy Park, and the prestigious Royal Melbourne Golf Course.

[smartcode_project_cta:default project_id=22347]

Located at 27 Black Street, the project of just eight house-sized apartments has just one unit remaining, priced at $3 million

One apartment remains at Nero, Brighton apartment development

In real estate, location is always the number one priority on a buyers wishlist.

Almost everything else is changeable, within reason.

The location of a property can impact several aspects of a homeowner's experience, from lifestyle, accessibility, and most importantly, value.

Projects by Buxton Director Heath Thompson says while location factors are subjective and personal to the individual, the key location factors are proximity to amenity and public transport.

"Local amenity, shops, cafes etc are important for everyday life for most buyers, while connectivity to the city, while not important for some, is important when it comes to resale value of a property" Thompson says.

Thompson has recently launched the boutique, 11-apartment project Martin Brighton, which is attracting downsizers due to its locational point of difference.

[smartcode_project:default project_id=5495 project_image_fid=207664]

"The project is unique in the sense it has a Brighton postcode, but it offers a different lifestyle than what many perceive what living in Brighton is like," Thompson says.

"Martin Street is not about the bay or the beach, albeit they're less than two kilometres away from the project. It's more about the doorstep lifestyle that the Martin Street Village has.

"There's a community feel around Martin St which you don't really get from Bay or Church Street. It's more like Hampton Street was before the recent large scale development."

[smartcode_project:default project_id=5495 project_image_fid=190763]

On Martin's doorstep is the popular cafe St Martin's, Martin St Cafe &amp; Providore and a number of other restaurants and cocktail bars. Bottarga is located across the road, while 10 Greek Plates, Brix Bar and Dining, Sons of Mary, and Brighton Bistro &amp; Cocktail Bar are all less than 200 metres from the front door.

Another driver for buyers is the connectivity that this end of Martin Street offers.

Martin residents will be in close proximity to the Gardenvale Station, on the Sandringham Line, which runs to Flinders Street Station through South Yarra, Prahran, Windsor, Balaclava, Ripponlea, Elsternwick and Hampton.

"We are finding that because Martin Street isn't a main thoroughfare it has a warm feel to it as opposed to busier locations," Thompson says.

[smartcode_project:default project_id=5495 project_image_fid=190767]

Martin has just 11 two and three-bedroom apartments, which start from $1,395,000. Each apartment has secure parking with internal living the starts from 100 sqm to more than 140 sqm extending to generous private terraces. The interiors were designed by the legendary interior design studio Mim Design.

Developer EBG, who have a string of successful high-end projects in their portfolio, are about half way through the bulk excavation of the site, with completion slated for mid-2024, a timeline which suits the downsizer so they have time to sell their family home.

Thompson says Martin suits the people who have wanted to make a sea change, while also being part of a village-style community.

"They might have kids who have moved into Melbourne, and want to be connected to them while also being near the water.

"Martin perfect for those who seek a lock and leave lifestyle. The location is also popular with buyers who have a larger property down on the Mornington Peninsula and looking for a city base.."

&nbsp;

&nbsp;

[smartcode_project_cta:default project_id=5495]

The location of a property can impact several aspects of a homeowner's experience, from lifestyle, accessibility, and even potential resale value.

Brighton apartments

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