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

Island Listing

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The auction for Sandstone Island, about 600 metres off the Mornington Peninsula coast, ended with a single bid.
The Victorian island property was passed in at $1 million.
The 22.25 hectare island is about 1 kilometre from Hastings.
It comes with two beaches, a yacht mooring and a house on it.
The Herald Sun reported a crowd of about a dozen attended the auction.
<a href="/news/vic/sandstone-island-off-mornington-peninsula-listed-for-november-auction">Pre-auction feedback</a><a href="/news/vic/sandstone-island-off-mornington-peninsula-listed-for-november-auction"></a> had ranged from $3 million to $5 million.
Five Melbourne families combined to buy the island 18 years ago.
They had tried to sell it in 2015 for about $5 million.
The island was first settled in 1854 by the Rogers family.
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j.ballantyne1990-6AQqhLzZaK

Sandstone Island passed in after auction marooned on one bid

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Terry Agnew has offloaded Great Keppel Island resort to an Asian duo, after a recent agreement with a cryptocurrency consortium for the island did not proceed..
The buyer, identified as Wei Chao Pty Ltd Singapore, lists its directors as Wan Long Wei and Pauline Wei from Taiwan as well as Peter Godber from Brisbane.
<div>The sale involves a significant portion of 970 ha of development approved land on the island, subject to State and Federal Government requirements.</div>
<div> </div>
<div>Current development approvals for the island include a 250-room beachfront hotel, 300 luxury apartments, 285 luxury villas, 9,000sq m of retail shops and a 250-berth marina.</div>
<div>
Knight Frank Rockhampton agent Pat O’Driscoll was marketing Great Keppel Island with JLL Hotels with over 100 requests for information memorandums.
While an agreement has been reached, the sale process is yet to be finalised.
Great Keppel is the largest in the Keppel group of Islands with a total area of some 1454 ha and boasts 17 white sandy beaches and crystal clear waters just 12 kilometres off Yeppoon on the Capricorn Coast at the southern end of the Great Barrier Reef. 
The sale of Great Keppel Island is the fifth Great Barrier Reef island sale over the past two years, which includes South Molle Island, Daydream Island, Wilson Island and Heron Island.
 
</div>
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Terry Agnew offloads Great Keppel Island resort to Asian duo

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A private island 90 minutes from Canberra has been given an official $600,000 to $650,000 price guide after failing to sell at recent auction.
The 91 hectare island is priced less than Canberra's $727,000 median house price.
Wade Island on Lake Burrinjuck, beside the historic village of Wee Jasper, last sold for $485,000.
Its only inhabitants currently are the wildlife, mostly kangaroos and wallabies.
Wade Island comes with approval for self-sufficient holiday cabins.
It can only be accessed by a land bridge - and only when they water is low.
Despite the lure of island life, sales campaigns for private islands typically can take years to complete.
There's the Port Stephen's Garden Island which sold six years after its initial listing.
Back in 2012 it was asking $6 million, before being advertised last April with $4 million hopes.
This was reduced to $2.75 million before its recent sale through McGrath Terrigal's Adrian Culpin.
The 1.4 hectare island was mostly overgrown when traded for $480,000 in 2001.
Award winning architect Philip Pratt was commissioned to design a home with a mix of Australian rural architecture and Japanese Modular design.
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Private island near Canberra listed for cheaper than city's median house price

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The asking price of Garden Island, near the historic village of Carrington at Port Stephens, has been cut by its carpet warehouse sellers Wendy and Ken Derry.
It now comes with a $2.75 million price guidance through McGrath Terrigal agent Adrian Culpin, having been listed with $6 million hopes in 2012.
The couple paid $480,000 for the mostly overgrown 1.4 hectare island in 2001 and then commissioned award winning architect Philip Pratt to design the home.
His brief was to create a home with a mix of Australian rural architecture and Japanese Modular design.
<img src="https://www.urban.com.au/images/2017/10/18/1%20Garden%20Island%20North%20Arm%20Cove.jpeg" alt="">
The three bedroom home, about 950 metres to the shore, features separate pavilions with Colourbond steel external walling and roofing.
The property comes furnished and complete with buggy, boat and car.
The island was held by the pioneering White family after the Australian Agricultural Company disposed of some land holdings in the 1880s.
The deeds to the island show the island was bought by Dribold White from the AA Company in 1885 for £30.
It is among around 20 island in the Port Stephens area, however it is the only one that can be built on.
Garden Island had $4 million hopes when listed in April.
This article first appeared in The Sunday Telegraph.
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Garden Island asking price slashed by half since prior listing

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Wavi Island in Fiji, a privately-owned freehold island with 20 building blocks, is the latest development to join the exotic property raffle trend.
This tropical villa raffle is the most alluring of all giveaways with its undisclosed Australian owner intending raffling five villas.
Each are valued at US$5 million (AU$6.7 million).
The cost for a raffle ticket will US$19 AU$25 with the first winner to be drawn three days after 300,000 ticket sales, totalling US$5.7 million.
It took the Victorian based entrepreneur almost two years to secure the international licenses and gaming permits.
The winners can live in the villa full time or lease it out for holiday accommodation.
Wivi is one of 300 plus islands in Fiji, where international celebrity owners include Mel Gibson and the Austrian billionaire Dietrich Mateschitz, co-owner of the Red Bull energy drink company.
Tony Robbins, author and motivational coach owns the resort next door to Wavi Island, Namale Resort Spa; and the Jean Michael Cousteau Fiji Resort is on the other side.  Then there is Hunters Hill developer Lang Walker’s resort Kokomo Island where the three bedroom villas from $4,995 per night.   
Wavi Island currently has a three bedroom pavilion villa which have been for sale unsuccessfully since completed three years ago.
"Seeing the success of other property raffles, the Wavi Island owner has acquired the world-wide licenses to proceed with a raffle," spokeswomen Lynn Malone said.
The owners will be donating some raffle funds to the local community in consultation with the Tui Nasavusavu, Chief of the Savusavu region. 
Last year La Casa Verde in Ecuador was put up for raffling off by expatriate Doug Greenshields, the former farmer from central Victoria and his economist wife, Rebecca.
"It’s better odds than Tattslotto,” Doug told news.com.au.
But there were not enough ticket sales so their eco-friendly guesthouse didn't find a new owner.
There was a 35,000 ticket target, but permission to sell 250,000 at US$29. 
They have since advised what they'd taken from ticket proceeds would be discounted off any sale price. The standard RSL Art Union property prizes have got more luxurious over the years.
Last October there was a $4 million newly built offering at Freshwater.
The RSL Art Union's next offering with $5 tickets offers a choice of a Campbell Parade, Bondi Beach apartment or a Mahogany Drive, Byron Bay apartment.
To read more, <a href="https://www.winafijivilla.com/prizes/" target="_blank">click here</a>.
This article first appeared in the Sunday Telegraph.
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Property raffle for Fiji's Wavi Island villas

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RE/MAX Gold’s Anthony Williams has a 34 acres of unnamed property in Graham Creek on the market.
The private undeveloped island has been attracting buyers keen to develop fishing lodges or similar ventures.
It has been listed by US-based company, which purchased the island in the 90s for the purpose of building a company getaway.
Mr Williams said the 30 to 40 minute boat trip from the Gladstone Yacht Club is inside the harbour.
Formal offers close on October 14.
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jchancellor-FAypfDUnLy

Gladstone Harbour island for sale through RE/Max Gold

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St Bees Island, located 37km offshore to the northeast of Mackay, has been listed by LJ Hooker Commercial Brisbane agent Keir Kreis.
It has 4.2ha of sandy beaches and lush rainforest.
The leasehold property has a 25-year lease expiring 2034.
It has been used by a Gold Coast family as their private home over the past two years.
The rental under the terms of the lease is $5,500 per annum.
The leasehold property at Island Road, St Bees Island is situated to the east of Keswick Island within the Cumberland Islands Group. Surrounded by beautiful fringing reefs alive with marine life, St Bees Island consists of sandy beaches lapping with crystal clear water, rainforests, eucalypt woodlands, dense grasslands and eleven hundred hectares of untouched national park with wild fauna and flora and a diverse wild life. The property access to the island is via sea transfer from Mackay.
Private planes can land at nearby Keswick Island or alternatively the property can be accessed directly by helicopter from Mackay. 
Reliable mobile phone and internet coverage are available on the island.
The vendors are also prepared to include a barge and pleasure craft in the sale of the property, subject to negotiation.
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