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 Sales

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The latest research from Brisbane South Cityscope shows property sale numbers have remained level over the last three months.
The last three months to the end of August 2016 recorded 13 sales for a total of over $90.1 million; with $77.8 million for commercial, $1.1 million for commercial strata, $3.2 million retail strata and $8 million for other.
In comparison, the three months to the end of May 2016 recorded 13 sales for a total of over $44.6 million; with $21.5 million for commercial, $900,000 for commercial strata, $2.4 million retail, $1.3 million for retail strata and $18.5 million for other. 
The 12 months leading up to the end of August 2016 recorded 48 sales for a total of over $320 million, over $189.5 million lower than the recorded figure for the same time period the year before.
The table below shows sales recorded for the past eight updates of Brisbane South Cityscope:
<a href="/images/2016/09/09/CoreLogicBrisbane.png" target="_blank"> Click to enlarge</a><img src="/images/2016/09/09/CoreLogicBrisbane.png" alt="">
The top three most significant sales, all in South Brisbane, recorded this quarter together totalled over $78 million.
<ul>
<li>The Precinct 2, 10 Browning Street, a four-storey building which includes The Melbourne Hotel on the ground floor and three levels of offices above. Armada South Brisbane Office Fund sold the building for $65.5 million to Forza Browning Street Fund. The sale represented an initial yield of 8% on passing income of around $5.24 million. Bruce Baker and Flint Davidson of CBRE Brisbane negotiated the sale.</li>
<li>138 Montague Road, a large single-storey warehouse with around 30 car parks. Bought for $8 million by The MWX Properties Pty Ltd as trustee for The MWX Properties Trust.</li>
<li>10 Cordelia Street, a two-storey commercial building with car parking for 17 vehicles. Sold for $5 million to 10 Cordelia Property Trust No. 1 and 10 Cordelia Property Trust No. 2.</li>
</ul>
<img src="/images/2016/09/09/Brisbaneqtrsales.png" alt="">
Properties listed for sale include:
<ul>
<li>105 Melbourne Street, South Brisbane. Merivale Flats, a three-storey residential building with a retail unit on the ground floor. For sale as a tenanted investment, with an auction pending (auction date to be advised); agent, Property Inc (Leon Iconomidis and Michael Kazoullis).</li>
<li>427 Montague Road, West End. A two-level office building and a single-storey warehouse. For sale by expressions of interest, closing September 1, 2016; agent, CBRE (Callum Short and Peter Court).</li>
<li>26-28 Thomas Street, West End. Two, single-storey, raised, weatherboard houses which are used commercially. For sale with an asking price of $1.48 million; agent, First National Commercial (Hiep Nguyen).</li>
</ul>
Currently under contract:
<ul>
<li>Unit 11, West End Central, 200 Melbourne Street, South Brisbane. A 96 sqm restaurant with a 46 sqm outdoor area. Under conditional contract; agent, JPM Commercial (Justin Mollard and Chris McDonald).</li>
</ul>
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand.
 
 
 
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jonathanchancellor-7SQnKwU6yx

Commercial property sales in Brisbane steady in quarter to August: Cityscope

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Commercial property sales in Brisbane's fringes increased in the past three months but sales figures dropped, according to latest research from CoreLogic.
The last three months to the beginning of August 2016 recorded 24 sales for a total of $195.3 million, with $3.9 million for commercial, $3.2 million for commercial strata, $5.3 million for retail, $4.2 million for retail strata and $178.7 million for other, according to the latest Commercial Market Update – Brisbane Fringe Cityscope.
In comparison, the last three months to the beginning of May 2016 recorded 44 sales for a total of $139.1 million, with $56.3 million for commercial, $3.2 million for commercial strata, $54.5 million for retail, $4.6 million for retail strata and $13 million for other. The 12 months leading up to early August 2016 recorded 136 sales for a total of more than $772.4 million, over $107 million more than the same time last year.
<a href="/images/2016/08/12/Screen%20Shot%202016-08-14%20at%206.30.32%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/12/Screen%20Shot%202016-08-14%20at%206.30.32%20PM.png" alt="">
Together, the top three sales recorded this quarter total over $183 million:
<ul>
<li>The 900 Ann Street development in Fortitude Valley has been presold for $169.82 million to Charter Hall Direct Office Fund and Charter Hall Prime Office Fund. The sale represented an initial yield of 6.50% on passing income of $11,038,300. The sale was negotiated by Seb Turnbull and Geoff McIntyre of JLL Brisbane. 900 Ann Street will comprise a 15-storey office building with ground floor retail/restaurant space.</li>
<li>The Tivoli, 52 Costin Street, Fortitude Valley, a single-storey Art Deco style building originally built in 1917. Bought for $8.3 million by Parkedge Holdings Pty Ltd as trustee for SBS N02 Trust. Hunter Higgins and Pat George of Colliers International Brisbane negotiated the sale in conjunction with Michael Gard and Nick Spiro of Cushman &amp; Wakefield (Qld).</li>
<li>The GPO Hotel, 740 Ann Street, Fortitude Valley, was sold for $5.25 million to 740 Ann Street Pty Ltd. The sale represented an initial yield of 6.5% on a passing income of $341,106 (net). Daniel Dragicevich, Glenn Price and Darren Collins of CBRE Hotels and CBRE Brisbane negotiated the sale.</li>
</ul>
<a href="/images/2016/08/12/Screen%20Shot%202016-08-14%20at%206.14.59%20PM.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/08/12/Screen%20Shot%202016-08-14%20at%206.14.59%20PM.png" alt="">
Properties for sale include:
<ul>
<li>134 Brunswick Street, Fortitude Valley – a 430 sqm vacant block of land. For sale with an asking price of $1.7 million; agent, Richardson &amp; Wrench Commercial Brisbane North (Kenneth King).</li>
<li>211 Leichhardt Street, Spring Hill – a St Pauls on Leichhardt Tavern, recently reconfigured for office use. For sale by private treaty in August 2016; agents, Chesterton International (Jeff Dolan) and CBRE (Darren Collins).</li>
<li>123-127 Gotha Street, Fortitude Valley – a three-storey office building with basement car parking. For sale by private treaty; agent, JLL Brisbane (Christian Sandstrom and Sam Bryne). The property was originally advertised with a net income of $861,378 per annum (as at 1 Nov 2015) with fixed annual increases of 4%.</li>
</ul>
Properties under due diligence:
<ul>
<li>Kings Row Office Park, 40-52 McDougall Street, Milton – a mixture of office buildings ranging up to six-storeys. Due diligence is currently being undertaken; agent, CBRE (Bruce Baker and Flint Davidson) and JLL Brisbane (Seb Turnbull and Geoff McIntyre).</li>
<li>2-4 Dorsey Street, Milton – a two-storey weatherboard building. Due diligence is currently being conducted; agent, Blue Commercial (Tony Pagano).</li>
<li>505 St Pauls Terrace, Brisbane – Green Square South Tower, a four-storey office building with ground floor retail space. Due diligence is currently being undertaken; agent, Colliers International Tom Barr, Don MacKenzie</li>
</ul>
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.
 
 
 
 
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prateek24-ezbwHMbNAk

Commercial property sales in Brisbane's fringes rise, but deal count down: CoreLogic

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Clearance rate for commercial auctions improved for the week ending August 5 from the previous week, according to the latest Commercial Market update from CoreLogic RP Data. 
 
Preliminary results show an improving clearance rate over the week ending August 5, at 63.4 percent across 41 results, compared to the previous week when 58.6 percent of the 58 auctions were sold.
 
Over the corresponding week last year, 67.9 percent of the 84 auctions were sold. There were 167 reported auctions over the past four weeks, with 97 successful results. Of these 97 sales, 77 have been reported with a sale price, totalling approximately $207.93 million.
 
<a href="/images/2016/08/12/Clearance-rate.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/08/12/Clearance-rate.png" alt="">
The table below indicates National Auction Clearance Rate figures.
<a href="/images/2016/08/12/national-auction.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/12/national-auction.png" alt=""> 
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Clearance rates at commercial auctions up for week ending August 5: CoreLogic RP Data

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Commercial property sales – office, industrial, retail - in Victoria in the year to June touched a record high of nearly $9.4 billion and were nearly double the 10-year average, according to the latest Savills research.
The breakup includes more than $4.74 billion worth of office transactions, $1.87 billion in industrial transactions and $2.77 billion retail property transactions.
Savills Victorian manager Research &amp; Consultancy, Monica Mondkar, said incremental increases in annual investment sales data to do with the natural appreciation in values was normal, however, recent sales levels had no historical parallel. 
"Property sales figures generally rise and fall in correlation with the fluctuations of economic cycles, as do other asset classes. However, over the last five years commercial property investment has accelerated significantly at a time of relatively low global economic growth," she said.
From a low of $2.4 billion in June 2012, commercial sales touched $9.378 billion in 2016, according to the research. This was also 85 per cent up on the 10-year average of $5.05 billion.
"That is an unprecedented recovery driven by historically low interest rates and Australia’s safe haven status. Volatile global financial markets led investors to select core commercial property as a solid investment asset class,’’ Mondkar said.
<a href="/images/BOTMP%20-%20chart.png" target="_blank">Click to enlarge</a>
<img src="/images/BOTMP%20-%20chart.png" alt="">
Savills’ state director – CBD &amp; Metropolitan Sales, Clinton Baxter, said the record spend was in part a reflection of Melbourne’s livability status and projections that it was on track to become Australia’s most populous city.
"There is no doubt that Melbourne has been very attractive to property investors – it is safe and secure on all economic, political and social fronts and offers excellent returns – but underlying that attraction is Melbourne’s widely acknowledged superior livability status, which is driving strong population and economic growth, and forecasts that it will become the nation’s demographic centre by 2050 or before.
"Of Australia’s two major cities, Melbourne has more affordable housing - which has been critical to population growth - and arguably a more stable ­employment market and easier public and private transport access, and they are the key factors behind the ABS’ most recent data which reveals seven out of the country’s top ten growth areas are in Greater Melbourne,’’ Baxter said.
He said yields were a further attraction particularly for foreign investors.
"Whilst our investment yields have firmed to record low levels across all asset classes, to global investors our yields still appear very attractive relative to comparable assets in cities such as Singapore, Hong Kong, Kuala Lumpur, Taipei, Dubai and most major US cities.’’
At a glance:
Office - $4.739 billion in sales; previous year $4.319 billion; five year average $3.266 billion. 99 properties sold. Foreign investors purchased 51 percent of the stock.
Industrial - $1.873 billion in sales; previous year $1.855 billion; five year average $1.23 billion; 112 properties sold. Funds purchased 32 per cent of stock.
Retail - $2.766 billion in sales; previous year $2.246 billion; five year average $1.84 billion, 158 properties were sold. Private investors purchased 33 per cent of stock.
Foreign investors dominate the markets with 38 per cent of purchases by value followed by private investors at 21 per cent and funds with 18 per cent.
Foreign investors had a particular predilection for office property with just over 50 per cent of purchases, while private investors took the lion’s share of retail property at just under 33 per cent and funds were the largest buyers of industrial property also at just under 33 per cent.
<a href="/images/BOTMP%20-%20graphic.png" target="_blank">Click to enlarge</a>
 <img src="/images/BOTMP%20-%20graphic.png" alt="">
Baxter said the general appeal of Australia as a safe-haven investment destination was likely to become more pronounced with the recent Brexit and South China Sea concerns.
"Melbourne has clearly matured into a city capable of attracting a huge volume of off-shore capital from the full spectrum of investor classes ranging from wealthy privates, to major institutions, pension funds and sovereign wealth funds, and global factors which contribute to uncertainty for investors appear likely to work to enhance that status,’’ Baxter said.
<a href="/images/BOTMP%20-%20majorsales.png" target="_blank">Click to enlarge</a>
<img src="/images/BOTMP%20-%20majorsales.png" alt="">
 
 
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Victorian commercial sales touch record $9 billion: Savills

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An East Melbourne property scored more than 20 percent over its reserve at a Savills auction recently, selling for $9.53 million to an investor.
The 96 Wellington Parade property, located opposite the MCG and Jolimont Station, drew 128 enquiries.
Selling agents, Savills’ Nick Peden, Clinton Baxter and Jesse Radisich, said the result represented a strong building rate of $8456 a square metre of net lettable area, and $18,613 a square metre of land.
The property is a five-level, 1,127 square metre (NLA) office building on a 512 square metre, and is zoned Commercial 1. Savills represented the Catholic Church for the deal.
The building covers around 65 percent of the site, while the zoning allows for a building height of 24 metres or eight levels subject to council approval.
It offers uninterrupted views across parkland to the MCG, said Baxter.
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Church reaps $9.53 million from East Melbourne asset at Savills auction

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The Beach House Lane retail strip on Campbell Parade, Bondi Beach has understood to have been sold.
It was listed last month with expectations of more than $30 million by the Melbourne-based investor GLG.
GLG, which manages $200 million in assets, appointed Stonebridge Property Group to sell <a href="https://www.commercialrealestate.com.au/property/178-campbell-parade-bondi-beach-nsw-2026-2012772074" target="_blank">the property at 178 Campbell Parade</a>.
The centre is 100 per cent leased to 14 retailers, including premium fashion and restaurant operators.
No sale details have been revealed but it is understood that terms have been agreed at $32 million.
Its annual income was given as $1.836 million.
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Bondi's $32 million laneway strata shop sale

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A motel in the Canberra suburb of Ainslie has exchanged hands in an off-market deal through CBRE Hotels.
The Best Western Tall Trees Motel at 21 Stephen Street was bought by Elanor Funds Management for $14,200,000 from Tall Trees Motel Pty Limited. 
The 79-room motel includes a bistro restaurant, manager's apartment and 71 onsite car parking spaces. It is owner operated, under management – with a franchise agreement in place with Best Western. The property has a site area of 5,797 sqm.
The passing yield was 8.2 percent.
Canberra posted strong growth across all major hotel indicators for the year to March 2016, indicating that the market has managed to cope with the increases in supply, according to CBRE. With no new supply scheduled to come online until mid-2017, Canberra should experience further increases in occupancy leading to rising hotel performance, according to the media release.
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Canberra motel exchanges hands for $14.2 million

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A fully refurbished South Yarra retail building has fetched $3.2 million under the hammer through Fitzroys, reflecting a 4.3 percent yield.
It was sold with a new 5x5x5 year lease to Melbourne's iconic sweet retailer Burch and Purchese.
it returns $140,400 per annum, plus outgoings and GST.
The substantial brick building of 300sqm sits on a 238sqm site with rear access via Daly Street and Forrest Hill.
The <a href="https://www.realcommercial.com.au/property-retail-vic-south+yarra-501944766" target="_blank">two-storey Chapel Street</a> property received over 80 enquiries and a four party strong bidding through Fitzroys agents Chris Kombi and Chris James along side John Camilleri of Killen Thomas
Kombi said the site presented a rare investment opportunity in a high growth location with future value add.
“This is an enormously successful location with a huge catchment of over 4,000 residents and workers immediately surrounding the property, further enhanced by the growing number of residential projects currently under construction, including Royal Como, Gisele, 661 Chapel Street, W South Yarra, Wil &amp; Co and many more.” 
He said the surge in medium and high density development and the resultant population explosion has had a hugely beneficial impact on South Yarra’s famously dynamic retail and hospitality precinct. 
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Sweet retailers Burch and Purchese secure new Chapel Street South Yarra landlords

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The Redcliffe Tavern, prominently positioned in the commercial heart of the Redcliffe peninsular, north of Brisbane, has been sold for $15 million.
The off-market sale, on behalf of the private investor from Melbourne, was negotiated by Jon Tyson and Peter Tyson of Savills Retail Sales.
The property, comprising a modern freestanding tavern and First Choice Liquor Superstore, was acquired by a private investor on a yield of approximately 6%.
Peter Tyson said the property is leased to Liquorland (Qld) Pty Ltd, the major liquor division of Coles Group Ltd, on a 20-year lease to 2029 with two further 10-year options,” he said. 
The Redcliffe Tavernwas developed in circa 2009 on a 2,498sq m site at 32 Anzac Avenue, Redcliffe, approximately 28km north of the Brisbane CBD. 
It was bought in 2014 for $11.5 million on a yield of 7.27 per cent.
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The Redcliffe Tavern north of Brisbane has been sold for $15 million

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Mirvac Group sold the landmark Como Centre in Melbourne, a mixed use asset in South Yarra, for $236.5 million.
Property syndicator Newmark Capital went into due diligence last month on the South Yarra property.
It is a two hectare site on the corner of Toorak Road and Chapel Street.
The property includes 25,700 square metres of A-grade office accommodation,  6,650 square metres of retail, a 111-room hotel and a commercial car park.
It was reported last month the Como Centre in South Yarra attracted the attention of the boutique funds manager Newmark Capital, which is led by Chris Langford, the former star of AFL club Hawthorn.
The group secured the nearby Jam Factory for about $165 million last year from financial services company Challenger.
The Como is a two-hectare site with street frontage to Chapel Street, Toorak Road and River Street.
The property generates more than $14 million of net income from more than 25,000 sqm of office space and 6600 sqm of retail space.
There is a 113-room hotel operated by Accor on a lease expiring in June 2021, with a five-year option.
The centre has a car park for 614 vehicles.
Newmark Capital was founded in 2011.
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