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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The Gold Coast region retail market is undergoing a shopping-centric facelift with beachside occupancy rates increasing on par with stronger hospitality figures, according to Herron Todd White.
Herron Todd White's September Month in Review said some of the major retail renovations include Pacific Fair, Robina Town Centre Food Market Mall, Australia Fair West and Showcase on the Beach.
The review said the $670 million Pacific Fair redevelopment will see the centre transformed into the largest shopping centre in Queensland and the fourth largest in Australia.
"Pacific Fair will have approximately 150,000 square metres of GLAR, incorporating 420 specialty shops, two full-line department stores, two supermarkets, three discount department stores, luxury and high street fashion outlets along with restaurants, bars and entertainment destinations," the report noted.
"The first stage of Robina Town Centre’s $160 million Food Market expansion was completed in May 2015 and delivered Gold Coast’s first Coles food superstore.
"The next stage of the Food Market Mall is now underway and is planned to incorporate 55 new retailers when completed in late 2015."
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mick.cee-iDmgDDAmu8

Gold Coast's retail-centric facelift: Herron Todd White

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An educator has paid $13 million for a Collingwood office building inside the Foy &amp; Gibson complex at 150 Oxford Street.
The four level property totals <a href="https://www.realcommercial.com.au/property-land+development-vic-collingwood-501652433" target="_blank">3336 square metres of office space </a>over two levels with a lower level warehouse and 86 car spaces over the remaining two levels.
Savills agent Clinton Baxter, who brokered the deal with Colliers’ Peter Bremner and Ted Dwyer said significant interest had come from developers desperately seeking residential development opportunities in Collingwood given the demand for inner-city apartments.
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$13 million paid for Collingwood office building

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Some 27 retail strip properties have sold for a total value of $60.098 million in the last three months in Melbourne's inner-east region, driven from the sub $5 million commercial investment market.
Teska Carson executive, Matthew Feld said buyers had paid $300,000 to $500,000 over reserve for property within the area, with one buyer, an off-shore fund, paying $3.4 million - more than $600,000 over reserve - on a very skinny 2.9% yield for a fully leased retail property on Lonsdale Street.
"In the latest (unreported) auctions a Hong Kong based private investor has paid $4.8 million on a tight 4.35% yield for a retail and office investment at  669-671 Glenferrie Road, Hawthorn, while an owner-occupier paid $1.07 million to fight off investors for a stand-alone retail/commercial property at 335 Swan Street, Richmond," he said.
"There are a combination of factors at work here but the key drivers have been the increase in competition from the sheer rise in numbers of investors – including a significant uptick in numbers of overseas and SMSF investors over this time last year - and also the current lack of quality stock."
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Sub $5 million commercial market strong in Melbourne

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Fashion entrepreneur Malcolm Webster, who owns and is the executive chairman of the David Lawrence fashion empire, is selling a three level Richmond corner building.
The double-fronted property, part of a larger terrace, is on the south-west intersection of Bridge Road and Lennox Street.
Colliers International's Jeremy Gruzewski and Ted Dwyer are marketing <a href="https://www.realcommercial.com.au/property-land+development-vic-richmond-501681657" target="_blank">132 Bridge Road</a>.
It is owner occupied by the fashion group.
It also derives an income from a billboard attached to the property's Lennox Street facade.
David Lawrence controls fashion brands including Jigsaw, which Webster introduced to Australia in 1991 and Marcs, which was acquired in 2006 from the Oroton Group. 
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jchancellor-FAypfDUnLy

Malcolm Webster lists Richmond premises

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The valuation firm Herron Todd White has issued its latest property clock for the commercial retail market - a simple broad brush means to suggest where property markets are - and what direction prices are moving in.
The valuation firm has included capital and regional cities on the property clock for house price direction.
<a href="/images/2015/09/08/Screen%20Shot%202015-09-08%20at%2011.19.40%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/08/Screen%20Shot%202015-09-08%20at%2011.19.40%20AM.png" alt="" width="810" height="563">
For more information, <a href="https://www.htw.com.au/" target="_blank">click here</a>.
 
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Melbourne, Tamworth retail leads HTW property clock

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The redevelopment site located at 134 Lennox Street in the inner west Sydney suburb of Newtown has been listed for sale.
Victor Kelly of Kellys Property estimates expressions of interest to fetch beyond $3 million.
This marks the first time the extra <a href="https://www.realcommercial.com.au/property-land+development-nsw-newtown-501659769" target="_blank">large 505sq m block of land</a> has been listed on the market.
Development opportunities are varied considering the space but Kellys Property expects buyer interest to come from property developers looking to construct boarding houses, student/affordable accommodation and recreation and community halls.
<a href="https://www.domain.com.au/for-sale/134-lennox-st-newtown-nsw-2042-2012171782" target="_blank"><img src="https://b.domainstatic.com.au/w800-h600-w4600-h3067-2012171782_1_pi_150811_060643" width="521" height="347"></a>
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j.ballantyne1990-6AQqhLzZaK

Newtown development site offering

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GUEST OBSERVER
Retail sales posted a 0.7% gain in the June month and a 0.7% qtr gain for Q2 in real inflation adjusted terms.
The monthly rise was in line with Westpac’s forecast but above the consensus view of a 0.4% gain.
The Q2 rise was above both our view and the consensus view of +0.4%qtr.
The June monthly result was driven by a solid 2.2% rise in household goods retail. Some of this reflects housing-related spending directly linked to new construction (furniture and fittings). However we suspect there was also a lift at the margin due to Budget measures aimed at boosting small business investment. For businesses looking to take advantage of these, there would have been a significant incentive to spend ahead of the end of financial year. Other categories were more mixed in the month with cafes &amp; restaurants posting a 1.2% gain and ‘other’ retail up 2% mth but clothing down another 1.4% mth after a poor May and department stores and food retail about flat in the month.
With the June month in line with Westpac’s forecast, the main surprise for us from the Q2 result was around retail prices. The CPI detail had been pointing to a 0.3% qtr gain for retail prices, slightly softer than Q1’s 0.5%. Instead retail prices came in dead flat with modest gains for household goods and cafes &amp; restaurants offset by falling clothing, department stores and ‘other retail’ prices and food up only slightly.
That weaker than expected price result meant more of the Q2 nominal sales lift was from volumes. The 0.8% qtr gain in real retail sales follows a 0.6% qtr rise in Q1 (revised down slightly from 0.7% qtr) and lifts annual growth to 3.6% yr.
In contrast to the June month, the Q2 real sales gains were more broadly based across categories with only department stores recording decline (–0.5% qtr).
The state breakdowns show a widening divergence between the mining states (+1.5% yr for volumes on a combined basis) and the ‘non-mining’ states (+3.5% yr).
Overall, the June report was stronger than expected and hints at some upside risk around the Q2 consumption figures. We currently expect a 0.5% qtr gain similar to that in Q1.
It should be noted that the retail survey has been a problematic guide to total consumer spending over the last year. Much of this relates to shifts in tourism related spending which mean retail spending is outpacing the measures that feed into total consumption.  Strategy  For the AUD
AUD/USD was trading just under 0.7270 going into the data releases. June trade balance came in near expectations. An upside surprise to the Jun retail sales print (0.7% v 0.4% forecast) and an upward revision of May numbers (0.3% to 0.4%) saw the Aussie jump to around 0.7290 initially. Given the solid data, this was a surprisingly small move, perhaps indicative of the pre-RBA mood of markets. AUD then pushed towards 0.7300 over the next half hour.
MATTHEW HASSAN is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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