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

Commercial Listing

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Melbourne's historic Collingwood venue, from where the Barley Corn Hotel operated for about 140 years, is to be auctioned on November 12.
The <a href="https://www.realcommercial.com.au/property-retail-vic-collingwood-501731182" target="_blank">177-181 Johnson Street</a> address comprises the former Barley Corn Hotel, currently a 100-bed backpackers hostel.
Set on a 558 square metre site, the property has frontages to Johnston Street, Harmsworth Street and Little Francis Street. 
It has been listed by Michael Taylor and Tom Maule of Teska Carson, which is marketing the property. 
"The three-street frontages provide flexibility for any development, while the current lease provides a handy income stream during planning and permit application stages,’’ Taylor said.
The property will be sold subject to a three-year lease from April 2014 to The Barley Corn Pty Ltd with a further three-year option at a current rental of $88,209.49 per annum.
"Collingwood was once known as a working class area but it has been through a significant gentrification process in recent years with a number of new developments driven by a huge upsurge in popularity," Maule said.
Collingwood is one of the oldest suburbs of Melbourne and has several historical buildings.
The sought-after location is just 1.5 kilometres to the Melbourne CBD.
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Collingwood's Barley Corn Hotel site on the market

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An investment property leased to McDonald’s has come to the market at Norlane at North Geelong.
400 Melbourne Road is available for purchase with an expected price of just over $2,000,000.
“The low, affordable rental of $117,434 per annum reflects the property being subject to a ground lease with McDonald’s owning the building and all other above ground improvements” explained Raoul Holderhead, managing director of Burgess Rawson.
“With McDonald’s having re-built the building in 2003 and in recent years adding a McCafe, it is safe to say McDonald’s plan is to stay.” Mr Holderhead added.
The lease is for 5 years plus 20 years of options through to 2038 with rental reviews annually to CPI and to market, the next due in 2018 upon the exercise of option.
<a href="https://www.burgessrawson.com.au/3P1137#.ViSSoLSqqko" target="_blank">The site 3,277 sqm </a>with 48 onsite car spaces is almost double that of a normal fast food outlet.
"The busy and proven location is evident by some 37,000 cars passing the property each day," he said.
The site has been a McDonalds since 1980.
Greater Geelong is a growing regional city of 220,000 plus, predicted to double by 2050, according to the G21 Regional Growth Plan.
The tenant pays all usual outgoings including land tax.
Burgess Rawson is a leading investment sales specialist, pioneers of the portfolio auction system, which celebrates its 100th auction this October.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years.
For more Burgess Rawson listings <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
 
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jchancellor-FAypfDUnLy

One with the lot - McDonald's Geelong listed for October auction with $2 million plus expectations

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Savills Australia is marketing a substantial cold storage facility with potential redevelopment and land banking upside at Mulgrave in Melbourne’s south-east. The property will be sold by expressions of interest closing October 29.
It is expected to fetch more than $8 million.
Located at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-mulgrave-501705993" target="_blank">769-781 Springvale Road</a>, the property comprises a 5500 square metre building, including freezer, chiller and cool rooms, on a 15,900 square metre site zoned Special Use Zone 6.
The property is situated close to the M1 Freeway and within a sought after industrial precinct including BMW’s Headquarters, Peters Ice Cream, Catch of the Day, and Monash University.
Savills’ directors Kosta Filinis and Lynton Williams said its represented a seldom offered opportunity to take advantage of a scarce refrigeration logistics facility with redevelopment upside enhanced by quick access to Melbourne’s premier freeway network.
Mr Williams said the market for industrial properties at the moment is very strong due to a number of factors including low interest rates, the lure of relatively good industrial yields and the volatility of share market investments.
"What has also been a driver in the sub-$10 million sector is the rise of the self-managed super funds which have increasingly been drawn to industrial investments,’’ Mr Williams said.
The property will be offered with vacant possession by vendor, national distributor of dry, dairy, frozen, smallgoods and accessory products, Superior Food Services.
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Mulgrave refrigerated logistics facility to fetch $8 million plus‏

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CBRE has been appointed to sell an industrial property in the rapidly growing Yatala Enterprise Area, centrally positioned between Queensland’s commercial centres, Brisbane and the Gold Coast.
Located at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-qld-ormeau-501674201" target="_blank">24-30 Blanck Street, Ormeau</a>, the property features a 1,250sqm two level corporate office and 3,853sqm high clearance warehouse, which includes mezzanine storage and an additional 800sqm awning area.
Grundfos, a national and global leader in advanced pump solutions and innovator in water technology, has recommitted its presence at the property, recently signing a new lease.
CBRE’s David Corke, who has been appointed to sell the property in conjunction with fellow agent Luke Brechin, said the site represented an outstanding investment opportunity.
“Centrally located between Brisbane city and the Gold Coast, along the M1 Motorway, this is a quality investment opportunity that will suit the astute investor looking for a secure asset that presents a number of future advantages.”
Built in 2007, the property was designed by Spaceframe Constructions with the purpose of accommodating a head office tenant looking for corporate amenity and functionality.
The expression of interest campaign closes September 18.
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Queensland commercial coast investment up for grabs‏

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South Australia's Howcroft Estate Vineyard is on the market with price expectations of around $9 million or roughly $22,000 per ha of vines planted.
The vineyard, a total of approximately 536.79ha has two planted areas - one a total area of 222.58ha, and the other 189.41ha, with 412ha of mature vines. <a href="https://www.realestate.com.au/property-viticulture-sa-mundulla-7720931" target="_blank">Howcroft Vineyards 1 and 2</a> were developed from 1998-2000.
The vineyard has red grape varietals, a five year grape supply agreement and a mix of premium varieties suited to the Limestone Coast Zone.
The property is for sale through Colliers International’s Tim Altschwager. He said the vineyards are situated within the Bordertown wine region and are amongst the largest commercial vineyards in the district. 
"The Limestone Coast Zone, which stretches from Bordertown in South Australia’s north to Mount Gambier in the south, is one of South Australia’s most recognised wine hubs," he said.
"It includes the famous Coonawarra region, internationally acclaimed for its Cabernet Sauvignon and Shiraz wines which thrive in the cool and sunny climate and terra rossa soils." 
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South Australia's Howcroft Estate Vineyard listed

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eCommerce agency Netstarter is offering its former office at Surry Hills for lease.
The group, which has 15 offices across Australia and New Zealand, will expand into premises available in North Sydney through parent company, Salmat.
The vacant tenancy comprises approximately 600 sqm of office space and is located at Level 4, 68-78 Wentworth Avenue, Surry Hills.
The property is being marketed by Ray White Commercial South Sydney’s John Skufris.
"The Netstarter office space provides a plug and play solution for more than 30 staff, with main offices and meeting rooms, an oversized kitchen/breakout area and timber flooring throughout," he said.
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Netstarter office now for lease in Surry Hills

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The Stock Hotel, located at the centre of Toowoomba in Queensland’s Darling Downs, is being offered for sale by Ray White Hotels Australia.
The hotel located at 162 Anzac Avenue, Harristown, in Toowoomba’s south-west is being marketed via expressions of interest by Leon Alaban and Christian Tsalikis of Ray White Hotels Australia.
Mr Alaban said the Stock Hotel is located on a prominent position on busy Anzac Ave and enjoys excellent vehicular exposure.
“The Stock Hotel presents a strong cash flow business with solid revenue across all departments,” he said.
Mr Tsalikis also mentioned the Toowoomba region was benefiting from a number of key developments such as the second range road crossing – the largest regional road project in Queensland’s history.
Expressions of interest for the Stock Hotel close at 4pm on Wednesday, September 23, 2015.
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