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

Retail Sales

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Retail sales activity during the first quarter of 2107 was a little more than $6.6 billion with 130 transactions clocking more than $5 million each, according to the Savills Retail Quarter Times.
Other trends show that there were 73 projects spread over a development area of 1.75 million sqm. At the same time, retail trade touched $102 billion, a 2.7 percent growth on an annual basis.
The top sales — more than $25 million — over the past year or so were at city centres. The top one was David Jones for $360 million and St Collins Land in Melbourne for $247 million, Savills data shows.
Yields for the top 20 sales varied from 3.72 percent to 8.41 percent, according to Savills.
<a href="https://www.propertyobserver.com.au/images/2017/06/14/SavillsSalesTop20.png" target="_blank">Click here to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/SavillsSalesTop20.png" alt="">
By state, NSW topped the sales activity for the year — sales more than $10 million — with Victoria and Queensland following.
<a href="https://www.propertyobserver.com.au/images/2017/07/03/SalesActivity.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/07/03/SalesActivity.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/07/03/SalesByType.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/07/03/SalesByType.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/06/14/SavillsAvgeYld.png" target="_blank">Click here to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/SavillsAvgeYld.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/06/14/SavillsAvgeYldSpread.png" target="_blank">Click here to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/SavillsAvgeYldSpread.png" alt="">
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jonathanchancellor-7SQnKwU6yx

Retail sales activity in first quarter reached $6.6 billion: Savills

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The online retail market is slowing, with sales declining over the year to April and also on a monthly basis, according to a NAB index.
Year on year growth slowed from a revised 10.5% in March (was 9.0%) to 6.9% in April, according to the NAB Online Retail Sales Index. The revised trend estimate for online retail sales is now virtually flat (0.1%), it said.
On a monthly basis, the index contracted in April by 0.8% on a seasonally adjusted basis, reversing a 0.8% growth in March. 
ABS data on traditional retailers showed month on month seasonally adjusted contracted in March (-0.1%), with year on year growth of 2.4%.  
“We estimate that Australian consumers have spent around $22.37 billion over the last 12 months to April 2017. This is equivalent to 7.3% of spending at traditional bricks &amp; mortar retailers, as measured by the ABS in the 12 months to March 2017,” said a note from NAB.
In line with the headline number, most categories slowed in April. 
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailYoY.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailYoY.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailMoM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailMoM.png" alt="">
Against the general slowing were: Homeware and appliances (10.4% yoy Apr vs 8.7% yoy Mar), Games and Toys(14.9% yoy vs  8.2% yoy) and Daily Deals (4.4% yoy vs -3.8% yoy). Media (16.3% yoy vs 16.6% yoy) maintained strong growth while previous  growth lead, Takeaway Food, slowed considerably (11.3% yoy vs 24% yoy).   Personal and Recreational Goods (3.4% yoy vs 14.4% yoy), Department Stores (3.4% yoy vs 8.4% yoy) and Fashion (2.4% yoy vs 4.9% yoy) also slowed but remained positive, whereas  Groceries and Liquor (-1.6% yoy ) is smaller this April compared to last.
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailOnlinevsABS.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailOnlinevsABS.png" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailGrowth.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailGrowth.png" alt="">
SME sales represents just over a third of all online sales. While SMEs (-0.4%,mom s.a.) recorded less negative sales, the fall in growth was sharper given the March result (+1.5%, mom, s.a.). Year on year growth for SMEs (10.6%) is still stronger than Corporates (6.9%).
The data is seasonally adjusted where specified, with a leap year adjustment made for February 2012 and 2016.
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Online retail sales fell in April, reversing gains in March: NAB index

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A double-fronted High Street, Prahran retail property has sold for $2.83 million under the hammer.
The 278 square metre Commercial 1-zoned property with a building area of 200 square metres, was sold subject to a four plus five year lease to restauraunt The Seasonal Kitchen from February 2015.
The property comprises two shops and the final sale price reflected a 3 percent yield.
Fitzroys agents Chris Kombi and Michael Ryan said the auction featured competition between five bidders.
Ryan said the property’s development and subdivision potential was key to buyer interest.
“Prahran’s vibrancy and popularity as a lifestyle location has spurred an increase in the level of high and medium density housing, which has had a hugely beneficial impact on its retail and hospitality precinct,” he said.
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j.ballantyne1990-6AQqhLzZaK

Double-fronted High Street, Prahran site sells under the hammer

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A Coles Five Dock strata-titled supermarket has sold for $19.66 million at a record net yield of 4.89 per cent, the first full line metro supermarket put on the market since 2015 in Sydney.
The sale beat the previous NSW record set by the sale of the Woolworths supermarket at Casula in Sydney's west in 2015 on a net yield of 5.11 per cent, according to selling agents James Wilson and Alexander Elliott of Colliers International.
It was snapped up by a NSW investor.
It was marketed via an expressions of interest campaign in February with price expectations in the $20 million range.
The property at 4-12 Garfield Street is a modern 3,430 sqm supermarket with a new 20-year lease to the supermarket chain. 
The property earns a net income of $960,489 pa.
"The transaction of this strata supermarket highlights the maturity of Sydney's investment market to focus more on the underlying performance of the asset as opposed to its title. This is a positive sign for the maturing Sydney retail investment market and great news for mixed-use developers looking to maximise their returns on Sydney developments," Wilson said.
Elliot said they fielded more than 200 enquiries from domestic and offshore investors.
The 3,333 square metre Coles-anchored stratum supermarket  features a restaurant and basement parking for 163 vehicles. 
The buyer acquired the property from the private developer of the property, who had previously sold the original Superbarn business at the property to Coles.
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Coles Five Dock supermarket sold for $19.66 million on record yield

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 Two freestanding commercial buildings on Sorrento’s busy Ocean Beach Road are set to go under the hammer in early March.
The 554 square metre landholding at <a href="https://www.realcommercial.com.au/property-retail-vic-sorrento-502246230" target="_blank">157-163 Ocean Beach Road</a> may attract strong interest given its passing income, position adjoining a council car park and potential as a mixed use.
The agent offering the property, CBRE’s Sandro Peluso, said Sorrento had emerged as one of the state’s strongest housing markets in recent years.
“House prices in Sorrento have grown by 17.43% in the past three years, underlining investor confidence in the stability and growth potential of the suburb,” Peluso said.
“Furthermore, opportunities on this stretch of Ocean Beach Road don’t come up regularly, especially ones with such outstanding corner street exposure, development potential and short term income security.”
The property currently provides two income streams totalling $105,105 per annum, with two short-term leases in place.
Peluso said the state government’s $750 million-plus Peninsula Link project, which opened in 2013, had made the area an increasingly attractive location for permanent residents, rather than just the region’s traditional holidaymakers.
The property will be offered for sale via a public on-site auction on March 11 at 12:30pm.
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Sorrento retail sites to go under the hammer 

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GUEST OBSERVER
The recent lift in retail sales has sustained into October, a 0.5 percent gain in the month outstripping expectations of a more moderate 0.3 percent gain.
That follows back to back 0.6 percent monthly gains in August and September.
The detail suggests an expected dampening effect from price discounting did not materialise. Price gains accounted for all of the sales gain in Q3 and recent indicators suggested some food price increases have partially unwound in recent months.
However, food retail posted a solid 0.6 percent gain in the month, anchoring the overall result (basic food retail, i.e. supermarkets, account for about 40 percent of retail sales).
Other categories were a bit so-so with a solid but unspectacular rise for household goods retail (+0.7 percent/mth), declines for clothing (–0.4 percent) and the beleaguered department store category (–0.4 percent) but reasonable enough gains for ‘small ticket’ discretionary categories ‘other retail’ (+0.8 percent) and cafes &amp; restaurants (+0.4 percent).
By state, Qld was a standout with a surprisingly strong 0.8 percent lift.
Overall, the result suggests consumer demand may has retained some momentum although as always disentangling retail specific effects from wider patterns of demand remains tricky.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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jchancellor-FAypfDUnLy

Queensland a standout with a surprisingly strong lift in retail sales

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A mixed-use building in South Yarra has been listed by Fitzroys.
The ground floor space at <a href="https://www.realcommercial.com.au/property-retail-vic-south+yarra-502173002" target="_blank">29 Toorak Road</a> is currently trading as Eyes Optometrists, a long standing tenant who have just renewed a five year lease.
Set on 187 square metres, the building encompasses around 230 square metres and offers six metres of Toorak Road frontage.
It currently returns $88,724 per annum.
The second storey comprises a two bedroom apartment.
Fitzroys agents Chris Kombi and Geoff Emmett have set a December 2 auction date.
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Toorak Road shop and apartment in South Yarra listed

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A retail property, comprising a McDonald’s and 7-Eleven service station, that fronts directly onto the Gold Coast Highway at Palm Beach on the Gold Coast, has been sold for $8.525 million.
Set on a 3,011sq m corner site, the property is located at the intersection of 19th Avenue, the major east-west intersection at Palm Beach.
The property was sold by Jon Tyson and Michael Harcourt of Savills to a local private investor following a marketing campaign that generated over 250 enquiries and eight offers.
The sale reflects a sharp yield of 5.46 percent.
Jon Tyson said the Palm Beach property presented an extremely rare retail offering, 100% leased to dual national anchor tenants and with exposure to more than 34,000 passing vehicles daily.
<img src="/images/2016/11/18/Palm%20Beach%207-11%20McDonalds%201.jpg" alt="">
He said both McDonald’s and 7-Eleven have both occupied the site since it was developed in 2001.
They are secured on long-term net leases with fixed annual rental increases.
The sale represents the first time the property has been offered to the market.
Palm Beach is located on the southern Gold Coast, approximately 14km south of Surfer Paradise and just 10km north of Coolangatta Airport.
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Savills sell Palm Beach McDonalds for $8.525 million

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Sentinel Property Group has purchased the Port Hedland Boulevard Shopping Centre in Western Australia for $17.6 million from a private vendor.
The shopping centre has Woolworths as along term tenant on a 20-year lease expiring in 2028 plus two further five-year options.
The shopping centre, 150 Anderson Street, spans 6,259sqm and also features two Harvey Norman stores, 16 specialty shops and a service station. 
<img src="/images/2016/11/08/Port%20Hedland%202.jpg" alt="">
Warren Ebert, Sentinel managing director said the company is pleased to be growing its property presence in WA in the strategic regional location of Port Hedland.
"We believe it is the right time to be buying in this location as there are strong growth prospects ahead," he said.
"Port Hedland is the world’s largest bulk minerals port, is Australia’s largest export port by annual throughput and ships over 58 percent of Australia’s total iron ore exports. The Pilbara Ports Authority has forecast a 16 percent increase in shipping capacity over the next three years.
"Sentinel has been looking to buy in this region for some time and has now been able to capitalise as a result of asset repricing on the back of the down turn in iron ore."
The Port Hedland Boulevard Shopping Centre is the latest asset of the open-ended pooled Sentinel Countrywide Retail Trust, which also owns shopping centres in Dubbo, Bathurst and Broken Hill in NSW and Atherton, Townsville and Emerald (x2) in QLD.
Sentinel has recently completed the sales of two shopping centres in central NSW that were held by the Sentinel Countrywide Retail Trust – a Coles anchored centre at Wellington for $3.6 million (September 2016), and a Coles anchored centre in Narromine for $4.18 million (July 2016). Respectively, the centres at Wellington and Narromine were purchased for $2.7 million and $3.35 million in May 2015.
Mr Ebert said Sentinel is both a seller and a buyer in the neighbourhood shopping centre sector at current prices.
“We have bought very well in this sector, when it was unloved by others, and as a result we are receiving a number of unsolicited offers to acquire our centres,” he said.
“We will continue to take money off the table as opportunities arise to maximise returns for our investors. We also remain an active opportunistic buyer, particularly in regional locations not yet fully identified by others.”
<img src="/images/2016/11/08/Port%20Hedland%203.jpg" alt="">
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Sentinel acquires Port Hedland Boulevard Shopping Centre in WA 

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A tenanted warehouse facility at Nunawading in Melbourne’s eastern corridors industrial hub has been sold by Ray White Commercial for $1,040,000.
It represented a yield of 4.8% for the property at 8-10 Rooks Road.
It was sold to a local investor by Brett Diston of Ray White Commercial.
The 389 square metre building has an established tenant on a five-year lease, with two five-year options.
“The property is currently returning net rental of $50,062 per annum,” said Diston.
He said the building is situated on a land area of approximately 616 square metres and is zoned Industrial 1.
“The site has rear laneway access and three car spaces available.
“The prominent corner freehold is within 100 metres of Whitehorse Road, providing ease of access to major arterials.”
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