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

Indooroopilly

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The Indooroopilly Bowls Club has finally sold for $1.3 million, four years on from it's closure following an ongoing strata struggle.
The buyers, two local families, purchased the 4,507 sqm property and it will become known as Indooroopilly Greens designed to be a "destination hub nown for quality, passion and community when it comes to health, movement, fitness and food."
Situated at 101 Clarence Road the anchor tenant is Fitter Futures a kid and teen focused movement training facility which is expanding to include adult programmes.
The sale of the property was negotiated by Adam Willmore of Knight Frank, who was appointed by liquidators Morgan Lane and Michael Griffin from Worrells Solvency and Forensic Accountants.
Mr Willmore said he had received well over 100 enquiries from buyers with wide-ranging uses for the property over the four years he had been marketing it.
He said, "it has been a long and difficult process to get to this point where the property will be sold,” the site is essentially one strata unit that is part of the Body Corporate that also governs the 134 residential apartments on the Clarence Road property."
"As such, any incoming buyer needed to obtain body corporate approvals if they wanted to operate anything other than a bowls club."
“Unfortunately there were no club operators interested in the property at an acceptable price level and the majority of the interest in the property was from buyers with alternate uses in mind.”
Mr Willmore said the bowling greens were also zoned Sports and Recreation and sit above basement carparking so there was no development potential in the site.
“We previously had it under contract a number of times to buyers wanting to purchase it for other uses including childcare but the body corporate did not support these buyers’ use for the property,” he added.
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j.ballantyne1990-6AQqhLzZaK

Indooroopilly Bowls Club sold after lengthy strata struggle

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Westside in Queensland Indooroopilly is set to host a first ever 48 hour open home.
There are only five brand new apartments left in the Village Building development, which are being marketed by Place Projects.
"We are committed to delivering the ultimate customer experience across 48 exciting hours," the marketing advises.
There will be guided tours, classes and events held by local businesses, free coffee each morning, prizes and property advice and insights.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/19/ind2.jpg" alt="">
On the Friday night there will be an exclusive rooftop barbecue overlooking the city.
The event will run from Thursday at 4.30pm until Saturday at 4.30pm.
Westside on the higher side of Indooroopilly was recently completed.
 
 
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jrobinson-rf4aSBido9

First ever 48 hour open home in Indooroopilly

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The AMP Capital Shopping Centre Fund (ASCF) and the AMP Capital Diversified Property Fund (ADPF) have each acquired a 25 per cent stake in Indooroopilly Shopping Centre.
They've bought it from Eureka - Real Assets, acting on behalf of Commonwealth Superannuation Corporation (CSC), in a deal worth more than $800 million.
AMP Capital has assumed management of the super-regional centre on behalf of investors, which is located seven kilometres from the Brisbane CBD in the city’s affluent inner west.
Operational since 1970, the centre underwent a major redevelopment in 2014 and currently comprises a gross lettable area of 116,447 sqm.
Indooroopilly Shopping Centre represents a compelling investment opportunity for the funds’ investors due to its long-term asset management and development potential underpinned by leases to seven major tenants such as Myer, David Jones, Coles and Woolworths, and 14 mini majors including H&amp;M and Uniqlo.
The asset benefits from favourable demographics, with average household income in the centre’s catchment area 22 per cent higher than the Brisbane average; good transport links; and strong trade area fundamentals including growing retail spend.
Retail spend in the area is forecast to increase from $3.2 billion currently to $3.8 billion in 2021. The centre also offers long-term mixed use development opportunities including the potential to add 90,000 square metres in gross floor area.
AMP Capital Shopping Centre fund manager Conrad Sinclair said the acquisition of a stake in Indooroopilly Shopping Centre on behalf of our investors is in line with the fund’s strategy of owning super- regional retail assets that dominate their trade area and with further potential for expansion.
"The fund’s investors now have an 81 per cent exposure to regional and super-regional shopping centres," he said.
"The deal follows a successful $200 million equity raising for ASCF, which was oversubscribed indicating the appeal these assets hold for investors.”
AMP Capital Diversified Property Fund Manager Kylie O’Connor said Indooroopilly Shopping Centre is a good fit for ADPF’s portfolio.
"It is consistent with the fund’s strategic objective to hold a diversified portfolio of high-quality assets across sectors, with a higher weighting towards regional and super-regional retail assets," she said.
"We also believe now is the right time to invest in south-east Queensland due to improving economic conditions and strong population growth in the state.”
AMP Capital has a strong presence in south-east Queensland, with a portfolio that includes the recently- redeveloped Pacific Fair on the Gold Coast.
AMP Capital Global Head of Real Estate Carmel Hourigan said Indooroopilly Shopping Centre is in the sweet spot of what AMP Capital does well for its investors.
Simon Rooney of JLL and Lachlan MacGillivray of Colliers International handled the transaction. 
They said there was a lack of transaction evidence in the regional shopping centre sector over 2015 and 2016, but three regional shopping centres have traded in 2017.
In addition to the sale of Indooroopilly, Highpoint Shopping Centre reflected a yield of 4.25% and Chatswood Chase reflected 4.75% – although both were direct off-market transactions.
Selling for a sub-4.5% yield, Indooroopilly services the inner western and southwestern suburbs of Brisbane and represents one of only four super-regional centres in Brisbane. Located in an extensive trade area comprising close to 650,000 people, Indooroopilly is a major retail destination attracting an estimated 12 million customer visits a year. 
The average per capita income in the main trade area is 30% above the Brisbane metropolitan average and the population growth in the past 5 years has been 2.3% per annum, significantly higher than the Australian average of 1.7%.
Originally built in 1970, Indooroopilly was expanded in 1987, 1998 and most recently in 2014 to approximately 116,447 sqm of total lettable area. The shopping centre is anchored by Myer and David Jones; Kmart and Target; and two supermarkets, Coles and Woolworths.
There is a 16 screen cinema; 14 mini majors; more than 300 specialty shops; and parking for close to 4,600 cars.
Its recent $450 million redevelopment, completed in 2014, included the addition of the first Uniqlo and the first H&amp;M stores in Queensland. 
The total site area is approximately 7.8 hectares.
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AMP Capital funds acquire 50 per cent of Indooroopilly Shopping Centre in Queensland

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The Indooroopilly, Brisbane home of John Mullan, managing director of JG Mullan Constructions, has been listed for sale.
<a href="https://www.realestate.com.au/property-house-qld-indooroopilly-126393866" target="_blank">His contemporary home</a> in a coveted Long Pocket address has $1.75 million to $1.85 million price guidance.
The five bedrooms, four bathroom Meiers Road home spans three levels overlooking a swimming pool and manicured lawn.
There are open-plan living areas extending to a covered deck with built-in barbecue, an island kitchen with Miele appliances and an upper level rumpus room. 
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John Mullan lists Indooroopilly trophy home

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A two bedroom Indooroopilly unit has been sold for $292,500 making it Brisbane’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-unit-qld-indooroopilly-125804670" target="_blank">3/55 Central Avenue</a>, the 97 sqm property is one of only six in the block.
It was last sold in 1993 for $125,000.
The interior features two bedrooms and one bathroom along with lounge/dining living space that opens up to the balcony with views.
It was marketed as having fly screens fitted to all sliding windows and doors.
There was a large lockable garage.
The property is in close proximity to public transport and Indooroopilly Shopping Centre.
The property was offered through Ray White agent Mark MacGillivray.
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Two bedroom Indooroopilly unit sold for $292,500

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Wallabies fly-half Berrick Barnes has secured a $847,000 sale of his unused Indooroopilly home.
Advertised as ripe for renovation by Urban Property Agents - Paddington selling agent Ben Wakely, the home has three bedrooms and two bathrooms.
The home had been rented for around $500 per week for the last few years.
Set on 607 sqm, Barnes paid <a href="https://www.realestate.com.au/property-house-qld-indooroopilly-121741974" target="_blank">$675,000 for the home in 2008</a> which has maintained its traditional features including soaring ornate ceilings, casement windows and picture rails.
The downstairs bedroom offers the opportunity for dual living with a separate entry, kitchenette and bathroom.
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Indooroopilly

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