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

Residential Apartment

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Seven Group boss Ryan Stokes has bought a Gold Coast apartment in the prized Silverpoint block.
He paid $1.2 million for a 14th level apartment in the tightly held late 1980s Girvan-built beachfront complex where Harry Triguboff holds the penthouse.
Comprising two bedrooms, two bathrooms and a spacious kitchen, the 225 sqm apartment has large balconies.
It was sold by LJ Hooker Sorrento agent Tony Trpeski. It first sold in 1989 at $730,000.
Stokes' fiancee, Claire Campbell, hails from Queensland where the family have the shoe emporium, Maryon's.
It was set up more than four decades ago by her mother on the Gold Coast. 
No doubt Ryan and Claire will utilise the apartment for Commonwealth Games entertaining.
The complex has always been popular with Sydneysiders, with current owners including mortgage broker James Symond and retired estate agent David Glasgow.
The 51-unit Main Beach block has two apartments per floor with a tennis court, pool, gym and practice putting green in its grounds. 
No holiday lettings are permitted.
This article was first published in the Saturday Daily Telegraph.
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Ryan Stokes buys into Gold Coast's Silverpoint

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With $15 million plus hopes, Mirvac has begun marketing its 500-square-metre Grand Pavilion penthouse overlooking Melbourne's Fitzroy Gardens at East Melbourne.
Mirvac's The Eastbourne penthouse comes with a 300-square-metre balcony, 50 metres of park frontage with pool and a spa.
"We expect the penthouse will be bought by a Melbourne local, some one from Toorak who is downsizing from their mansion," Mirvac boss Susan Lloyd-Hurwitz said. 
Fairfax Media advised she is one of around 200 buyers who have snapped up $300 million worth of apartments in the off the plan sales in the development. The penthouse will be at the former Dallas Brooks Hall and Freemasons Masonic Lodge site at 280 Albert Street.
One buyer has spent almost $11 million to join three apartments into one 250 sqm apartment. 
The Grand Pavilion penthouse won't be the city's most expensive apartment.
Across the gardens, there was a higher price at Salta's apartment block, and the record is held by the $25 million sale of the 100th floor penthouse in Australia 108 to a Chinese buyer.
Eastbourne has been designed for Mirvac by Bates Smart, the architects behind their other prime block, The Melburnian on St Kilda Road.
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jchancellor-FAypfDUnLy

Mirvac's Eastbourne penthouse for sale

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GUEST OBSERVER
Over 90 new strata laws will come into play later this year and of the 90 these are some changes that will most likely make a difference to your everyday.
1. Parking 
Owners corporations will be able to reach agreements with local councils to allow parking officers into their schemes to issue fines to rogue parkers. 
Not only rogue parkers but residents who park over the lines of their parking spaces on to common property or leave their cars in visitor parking (however briefly) could also be ticketed. 
2. Fines
Almost all fines will be paid to the owners corporation, but this won’t be a cash cow for over-zealous committees; they still have to go through the same tribunal process. 
3. Short term rental
Owners corporations can now set limits on the number of people allowed to live in an apartment provided the upper limit is no less than two adults for each bedroom. Failure to abide by this law could result in fines from $11,000 to 22,000.  
4. Smoke 
Simply, an owners corporation can make a strata by-law banning smoking throughout an entire strata building. Orders can also be made against residents who smoke or allow their cigarette or barbeque smoke to drift into other units and landlords can be held liable to their tenants for second hand smoke exposure. 
5. Pets 
The new strata by-laws will not remove a scheme’s ability to make its own rules about pets. However, if the new model by-law is adopted, the request to keep a pet cannot be unreasonably refused. If the owners believe approval was unreasonably withheld, they can apply to the Tribunal. 
6. Renovations
New rules mean hanging pictures; coat hooks and filling cracks can go ahead while “minor alterations” – such as kitchen or bathroom renovations, installing timber or tile floors and replacing wiring or power points no longer need a special resolution by-law. But be aware there are other laws that allow owners corporations to charge owners for any damage caused to common property.  
7. Levies 
Owners corporations will be able to get compensation if a developer promised unrealistic low levies at time of sale. By the time the owners have to pay the actual bills for services, the developer is out of the picture. Now owners can pursue them for compensation through the tribunal (NCAT). 
8. Strata contracts
Strata manager contracts will be limited to one year in the first year of a building’s life and three years thereafter. The one-year initial contract gives strata manager’s ample time to prove themselves to the committee … or otherwise. The subsequent three-year contracts allow owners corps to change strata managers more easily if the relationship isn’t working out.  
9. Votes 
The biggest technological changes in our lives have been in communication. Voting electronically, via Skype calls, by email and even good old-fashioned snail mail will be introduced. 
10. Tenants
Tenants now have a right under the new laws and will be able to attend owners corporation meetings, no matter how many of the lots are tenanted in their scheme. They may vote if they hold a proxy (giving them voting rights on a lot owner’s behalf). 
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Adrian Mueller, is senior lawyer at J.S Mueller &amp; Co and can be contacted <a href="https://muellers.com.au" target="_blank">here</a>. 
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Property 101: Top 10 NSW strata law changes in November 2016

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One of China's biggest financial institutions is offering zero-deposit home loans for off-the-plan apartments in Melbourne and the Gold Coast.
The banking division of PingAn Insurance was offering the loans to Chinese investors in Shanghai, the Australian Financial Review reported..
"Become an Australian property owner with zero down payment," the marketing advised.
"Join hands with PingAn and realise your overseas property dream," it added. The banking division of Ping An unveiled the zero-deposit product to Chinese investors in Shanghai last week.
PingAn and property marketing group Austpac are offering Chinese investors the zero-down-payment option for apartments in Melbourne's West Brunswick and Hope Island on the Gold Coast.
<a href="https://www.rcorporation.com.au/apartment/the-york-west-brunswick/" target="_blank">The York, a large apartment development in West Brunswick</a> is one of the developments being promoted by PingAn's no-deposit loan offer.
PingAn is also offering the zero-down scheme for investors buying into the Ramada serviced apartments at Hope Island on the Gold Coast.
The lending practices come as the Australian Prudential Regulation Authority and the Reserve Bank of Australia seek to cool the Australian property market with tighten lending practices for local property investors.
Australian regulators are powerless to prevent the lending practices of offshore banks which has been highlighted in the past by mortgage broking chief John Symond.
Simon Moreira, a sales manager with R Corp, which is developing the The York told the AFR he was unaware buyers were being offered zero-deposit loans. 
It emerged Chinese investors being offered zero-deposit home loans over Australian apartments will be charged credit card interest rates, around an annual interest rate of 14 per cent.
China's benchmark, one-year lending rate sits at 4.35 per cent, after being lowered by 25 basis points last weekend.
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Zero deposit loans offered to Chinese property investors on Melbourne project

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Buyers agent Frank Valentic, of Advantage Property Consulting, watched the two-bedroom apartment at 4/1A Lansdowne Rd, St Kilda East fetch $661,000 at recent auction.
It last sold at $490,000 in 2009.
He said an apartment in an almost identical position in the block sold last year for about $500,000.
<a href="https://bigginscott.com.au/1867261/" target="_blank">There was a $548,000 sale</a> in December 2013, records show.
<a href="https://www.realestateview.com.au/Real-Estate/4-1a-lansdowne-road-st-kilda-east/Property-Details-sold-residential-9328024" target="_blank">The latest two bedroom sale</a> was one of only six.
It came with secure car parking. 
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