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

Celebrity Sales

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Retired Parramatta Eels star Eric Grothe Jr - who was named winger of the year at the 2005 Dally M Awards - has sold his Sutherland Shire investment for $1.2 million after it failed to find a buyer at its auction last month.
Pulse Property agent Rochelle Mills had issued $1.1 million price guidance for <a href="https://www.realestate.com.au/sold/property-house-nsw-caringbah-123713122" target="_blank">the Caringbah property</a> that cost Grothe Jr $565,000 in 2007.
It now comes with a 2009-built four bedroom home on the 525 square metre lot. It was listed in 2011 when the auction bidding reached $980,000.
The property was advertised as "a great opportunity to redevelop and build your dream home".
Grothe, who also offloaded a two bedroom Cronulla apartment in 2012 for $472,000, is splitting his time between Sydney and the Gold Coast, where model, actress and singer girlfriend Sophie Monk has just set up camp.
She's just spent $1.1 million on a five bedroom waterfront in Helensvale, round the corner from her parents' house.
Outside of footy Grothe Jr is a keen musician and continues to showcase his musical talents as a regular member of the band on Channel Nine's The NRL Footy Show.
This article first appeared in The Sunday Telegraph.
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j.ballantyne1990-6AQqhLzZaK

Eric Grothe Jnr sells in Sutherland Shire

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Australian cricket vice-captain David Warner and his wife, the iron woman, Candice Falzon have quickly listed their South Coogee home up for 2016 auction.
It is their home which cost $6.25 million in early 2014 shortly after the birth of their baby daughter Ivy Mae. 
The three level contemporary home listed by Bethwyn Richards at McGrath Estate Agents comes with 180 degree views across the Pacific Ocean towards Wedding Cake Island from all levels.
The home comes with bespoke cabinetry, American Oak and Travertine flooring. There's a state-of-the-art Calcutta marble kitchen, stone tiled swimming pool, sauna/steam room, and large outdoor BBQ entertaining space.
The March 2016 auction listing follows<a href="/news/david-warner-buys-knockdown-property-in-maroubra"> their recent Lurline Bay purchase</a> when they bought an oceanfront knock-down for just under $4 million through McGrath agent Simon Exleton.
Offered with lapsed Tobias Architect, the couple has instead quickly commissioned architect Rolf Ockert to create their dream home. 
David "The Kaboom Kid" Warner, in unstoppable cricket form, loves his coastal property. "You can't go wrong on bricks and mortar," he told Daily Telegraph columnist Nick Tabakoff recently.
He was not alone in that thinking having outbid four contract holders to secure the 892sqm Mermaid Avenue.
In 2014 Warner secured $1.88 million when his renovated four-bedroom Jenner Street, Little Bay home was listed ahead of the purchase in South Coogee from the property developer and former Secret Millionaire star, Carly Crutchfield.
Warner had an investment property in Maroubra, which cost $562,000 in late 2009. The 1950s Maroubra Road sold in late 2014 at $650,000. His current portfolio includes Matraville investment apartments.
After breaking onto the international cricket scene in the 2008/09 season with a series of explosive batting performances taking his test runs past 4000, Warner is now a key opening batsman in the Australian Test team.
More than $7 million is being sought for the listing.
This article was first published in the Sunday Telegraph.
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jchancellor-FAypfDUnLy

$7 million plus sought by cricketer David Warner in South Coogee

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The Block contestants Luke and Ebony's sub-penthouse South Yarra apartment will go to auction this weekend with Block agent fixture, Biggin &amp; Scott's Russell Cambridge. 
The three bedroom, three bathroom property is on floor five of the complex offering extensive views of Melbourne.
It features a state of the art white glossed kitchen installed  after early style missteps. 
They were the only couple to knock down major walls to create an enormous open plan living, dining and kitchen enhanced by dark floorboards.
Andrew Crotty joins Cambridge from Biggin and Scott Richmond with the listing of <a href="https://www.realestateview.com.au/Real-Estate/1a-affleck-street-south-yarra/Property-Details-buy-residential-9728465" target="_blank">1A Affleck Street</a>.
They too have decided to leave behind the less desirable Commercial Road address in their marketing.
The complex features a communal roof terrace with a barbecue, cinema and wellness centre.
The WA pair have an edge over the other contestants as Ebony is an interior designer and Luke is an electrician by trade.
The brother and sister pairing said they treated the apartment as if they were designing it for a client.
They went out and researched what was selling around Melbourne, Luke said.
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jrobinson-rf4aSBido9

Vast open plan the key to The Block Luke and Ebony apartment offering

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Comedic actor Shane Jacobson has listed his five-bedroom house at Newport in Melbourne.
 The Oxford Street property has been listed through Village Real Estate Seddon agent Anthony Watson.
The home has been scheduled for<a href="https://www.realestateview.com.au/Real-Estate/42-oxford-street-newport/Property-Details-buy-residential-9523848" target="_blank"> October 17 auction</a>. 
It was bought for $1 million in 2007, after the success of his debut film, Kenny.
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Actor Shane Jacobsen lists Newport home

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Aniek Baten, the widow of the lesbian legend Dawn O'Donnell, has sold their home in Mosman for a disappointing $6.6 million.
Paying $5.4 million in 2002, O'Donnell, once Abe Saffron's business partner, made her fortune from Sydney's gay saunas, nightclubs and sex shops.
After her 2007 death it was actors and animals, rather than Aniek Baten, her wife of 30 years, who emerged as the major beneficiaries of her $16 million estate.
Baten started legal action having been left $3 million but not their home in Shellbank Avenue.
It has now been quietly sold through Simeon Manners Property having been listed with initial $8 million hopes.
This article was first published in the Saturday Daily Telegraph.
 
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Dawn O'Donnell's Mosman trophy sold for $6.6 million

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The intended matrimonial home of celebrity trainer Michelle Bridges and her former husband Bill Moore has been sold.
It achieved its desired $4.5 million plus ambitions ahead of last weekend's <a href="https://www.ch.com.au/100P10126" target="_blank">scheduled Cobden &amp; Hayson auction</a>.
With its two year makeover, the then couple had bought the sandstone home at 10 Wharf Road in Birchgrove for $2.35 million in 2011.
It renovations were said to have cost as much again.
The builders only recently completed the renovation of the three bedroom 1870s home which has been sold to an inner west buyer, though not from the Balmain peninsula.
The Biggest Loser fitness trainers Michelle Bridges and Steve "Commando" Willis are set to stay in their Potts Point apartment following the upcoming birth of their first child.
It was early 2013 when the then Biggest Loser star and her husband, Bill Moore split after nine years of marriage, while keeping their multimillion-dollar fitness empire intact, with Bill retaining his role as business manager.
The couple had met at Moore's Balmain gym and then renovated their Rozelle house, where Moore continues to reside.
Birchgrove's highest non-waterfront was a $4.1 million sale in 2013 on Rose Street.
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Michelle Bridges sells Balmain reno 

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The Blue Wiggle Anthony Field and his wife Miki withdrew their Gladesville riverfront home from its scheduled weekend auction.
It was purchased for $3.56 million early last year following the <a href="/news/anthony-field-finally-gets-a-wriggle-on-from-drummoyne">sale of their six bedroom Drummoyne harbourfront</a> for $4.85 million.
The four bedroom 1950s home on the Parramatta River came with beach.
Last month Anthony Field, the Blue Wiggle, attended, without bidding, a $3,102,000 Petersham auction.
This article was first published in the Sunday Telegraph.
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