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

Rural Sale

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Apollonia, the historic Bowral<a href="https://www.domain.com.au/for-sale/37-39-merrigang-street-bowral-nsw-2576-2011852807"> </a>retreat of former the Westpac chief executive Frank Conroy and his wife Jan, has been sold.
They plan to spend more time at their Bendalong beach house following the sale through Belle Property Bowral agent Di Dixon who was <a href="https://www.belleproperty.com/buying/NSW/Southern-Highlands/Bowral/House/58P0121-37-39-merrigang-street-bowral-nsw-2576" target="_blank">seeking around $3.5 million</a>.
The 1890 home takes its name Apollonia after the patron saint of dentistry given its long earlier ownership by the local dentist.
The charming Merrigang Street home was built circa 1890 for Julia Welford as a guest house to her residence next door, but is better known locally as the long-time home of dentist Douglas Hedberg until 1954.
It was Robert Uliana who undertook its substantial renovation along with adding its two-bedroom guest house and indoor, heated lap pool.
Last traded in 2005 for $2.95 million, Apollonia, is a charming timber Bowral residence on 2600 square metres in Merrigang Street.
It is tipped to have sold to an Elizabeth Bay buyer.
This article was first published in the Sunday Telegraph.
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jchancellor-FAypfDUnLy

Retired Westpac boss Frank Conroy sells Apollonia at Bowral

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Belinda Green, the former Miss World, and her farmer husband, Steve Mason have listed their Cowra property, Glen Echo.
Belinda and Steve, who married three years ago at Nyngan during one of their regular Desert Duel charity car rallies, bought the 50 hectare farm in 2004.
It comes with 1896 homestead in established gardens with nearby swimming pond.
They are now looking to downsize.
"If we could shrink it to an acre we'd have been happy to stay until our rocking chair days.
"But in our 11 years we've lived the dream," she said.
"We have never sat still, so now it is time to slow the pace a bit.
"The community means a lot to us, we will always be involved in the community," she added.
The farm, located <a href="https://www.meares.com.au/property/glenecho/gallery/glen-echo.htm" target="_blank">16km west of Cowra</a>, 300km from Sydney, was long associated with the Hibberson family.
The property is set for online auction through Meares &amp; Co agent Chris Meares in early November. 
Belinda has had a full life, but is always fondly recalled for her pageantry appearances, winning the 1972 Miss World contest at the age of 20.
She became the second woman from Australia to win the title; the first, Penelope Plummer, was crowned Miss World four years earlier. 
Long retired from pageantry and even her subsequent television work, which included being a Beauty And The Beast panelist, Belinda has busily engaged in charity work, awarded an Order of Australia for services to the community in 2013.
There's also been much of her time rescuing, and caring for, injured and orphaned wildlife, through Wildcare, specialising in looking after kangaroos and wallabies, as featured recently on the cover girl of the Central West Lifestyle magazine.
She's currently studying as a veterinary nurse at Southern Cross Wildlife care centre, an animal hospital at Braidwood.
Their three bedroom Cowra homestead is positioned on the highest point of the property overlooking the farm’s dam and cropping paddocks, currently leased to a local farmer. Its productive acres are suited to grazing sheep and cattle, cash and fodder cropping such as lucerne, canola and oats or spelling horses.
Green, the mother of two daughters from her second marriage, and Steve's three children, prompts them to be increasingly spending time away from the farm, in Sydney and overseas.
This article was first published in the Saturday Daily Telegraph.
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Belinda Green lists Cowra farm

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Some $14 million has been paid for a Roma farm by Tom Strachan, the owner of Australia's largest privately owned labour hire company AUX.
The 7300-hectare Lighthouse station borders his current rural property holding, Lorraine.
"It's champagne country that you can't get enough of," Mr Strachan told The Australian Financial Review.
The new cattle station purchase was made through his Australian Pastoral Land Company, which is separate from the labour hire business.
The Lighthouse property was formerly owned by the estate of Dr Jim Baker who acquired it in 1975 during the "Beef Depression".
Mr Strachan's wealth is estimated by the BRW Young Rich List at $47 million.
The property, was offered to the market alongside the neighbouring Meeleebee Downs, which is in due diligence with a separate buyer.
CBRE's Danny Thomas, Chris Holgar and Geoff Warriner negotiated the sale.
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Roma Lighthouse station farm sold to Tom Strachan

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Amanpuri, one of the great estates in the west of Sydney, was sold for $5.45 million at weekend auction. Last sold for $5.6 million to the Bartolo family in 2013, the nine bedroom home sits on three hectares at 269 Cobbitty Rd, Cobbitty.
It was initially sold at $4.5 million in 2008 after built as the family home of Fincorp property investment and development group chairman, Eric Krecichwost and his wife, Tiffany.
It was in 2004 when Castle Hill-based Chateau Homes was commissioned to build the <a href="https://www.realestate.com.au/property-house-nsw-cobbitty-117311735" target="_blank">$1.8 million palatial residence</a> by Krecichwost who had previously lived around the nearby Camden area for several years making a living selling vacuum cleaners.
Agent Dean Boskovic from BOS Realty Carnes Hill marketed 269 Cobbitty Rd as “an absolute masterpiece,” that was sure to fetch more than $5 million under the hammer — more than seven times the suburb’s median house price.
This article first appeared in the Sunday Telegraph.
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Cobbitty's Amanpuri sells at $5.45 million

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Vaucluse, the historic 2654-hectare Tasmanian farm near Launceston with 1830s Georgian mansion, has been sold to the United States food and agriculture conglomerate Cargill, for $20 million.
The Conara, Northern Midlands acquisition joins Cargill's earlier hedge fund investments including Billabong Station in the NSW Eurongilly Valley and sugar cane farm Marwood near Mackay in north Queensland.
Vaucluse was sold by Michael and Susie Warner through <a href="https://landmarkharcourts.com.au/Property/590289/TRT0383/643-Glen-Esk-Road" target="_blank">Michael Warren of Landmark Harcourts Tasmania</a>.
The Warners ran about 14,000 merino sheep and 400 angus cattle on the property. They also grew potatoes, poppies, grass seeds, canola and cereals across around 700 hectares. 
The trophy 1830s home was possibly built to a design by Robert Bostock, adding to an existing two storey section erected in 1820.
In 1847 John Bayles bought Vaucluse from the trustees of Robert Bostock’s estate for £9,057. He was a magistrate for the district.
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Vaucluse, the Northern Midlands Tasmanian farm sells to United States hedge fund

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Chinese retail and supermarket giant Dashang Group's subsidiary, Australia Aulong Auniu Wang (AAAW) has taken a caveatable purchasing interest in the Glenrock Station near Scone in the Hunter Valley.
It was reportedly sold earlier this year for $45 million, with the paperwork not yet formally registered.
Dashang, based in China's northern port city of Dalian, has also purchased the prime 1100-hectare rural property Clear Hills near Captains Flat outside Canberra. 
Dashang's reported intention in Australia is to become the No.1 importer of Australian beef into China.
It also wants to be the first Chinese company to import live cattle from Australia under the recently signed live cattle export deal.
The 30,868-hectare Glenrock Station grazing property neighbours James Packer's Ellerston estate. 
After FIRB approvals, Dashang have maintained the farm team at Glenrock, with the aim of running between 10,000 and 15,000 Angus head on the property.
Glenrock, the Scone district pastoral station, last traded in 2005 when bought by then Babcock &amp; Brown managing director Phil Green and Tricom brokerage firm founder Lance Rosenberg in a syndicate that paid $23 million.
The syndicate purchased Glenrock from Compagnie de l’Occident pour la Finance et l’Industrie, a Luxembourg corporation with interests in financial management, banking, property and ­agriculture.
According to past ASIC filings, Green owned 51% of the property's holding company Glenrock Station Pty Ltd, and its directors include Claymore Capital's Anton Rosenberg (whose wife Sharron is also a shareholder) and former Babcock &amp; Brown's Paul Platus, who now works with Green at advisory firm, Alceon.
The other shareholders are Grace Mutual chief Andrew Tyndale and property developer Alan Cardy, the second largest with 25%.
 
</body></html>

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