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

Safety

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Australia's privatised building certifiers are worried over insurers’ moves to exclude liability for non-compliant cladding in the wake of the London building fire tragedy.
The Australian Institute of Building Surveyors, the peak body for Australia's privatised building certifiers, has written to members that some professional indemnity insurers were imposing 'onerous exclusions' to policies around non-compliant cladding, The Australian Financial Review reported.
"Some clauses exclude claims arising out of 'non-compliant' aluminium composite cladding whereas others exclude "non-compliant" and "non-conforming" cladding or building materials generally," the emailed letter said. 
"The exclusions that we have seen are broadly worded, removing all cover when non-compliant products exist irrespective of whether the insured practitioner caused or contributed to the issue."
Melbourne-based insurance broker BRIC, which advised the institute to send the email, noticed its first policy with an exclusion clause in February. 
Since June, it has had to find alternative insurers for 12 clients whose existing insurers had refused to remove exclusion clauses.
The exclusion clauses pose a major risk for professionals such as building surveyors and engineers, BRIC broking manager Darren Pavic was cited by the AFR as saying.
"If a policy does not respond to a claim, the firm and the individual practitioner will be left to defend the matter using their own resources," Pavic said.
Flammable cladding has been a major issue since London's Grenfell Tower tragedy. 
The Victorian government has set up a the taskforce to speed up the investigation into the use of flammable cladding on high-rise buildings in the state.
It has also prompted a revision of Australia's National Construction Code. 
The move by insurers has also been prompted by the fire at Melbourne’s Lacrosse building in the Docklands.
Moves by state governments, such as in NSW, and by developers and owners themselves to determine the safety of their cladding are likely to lead to a raft of claims over rectification costs, said Scott Higgins, a partner with law firm Mills Oakley. 
With developers likely to have confidential dispute resolution mechanisms that would have them resolve problems privately, bodies corporate were more likely to take certifiers to court, Higgins said.
"I'd be very surprised if we didn't start to see them in the next six months," he said.
Erik Adriaantse, the interim chief executive of industry body Strata Community Australia, said news of the exclusions was a "positive" development.
"It's likely to put pressure on certifiers to get it right," he said.
Higgins added that the move by insurers could influence the appetite of building owners to rectify them.
"If you have to rectify the issue and seek to recover the costs – which could be in the millions – by reclaiming those under insurance, if that certifying authority doesn't have an insurer standing behind them there's less comfort there that you're going to be able to recover the costs," he said.
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jonathanchancellor-7SQnKwU6yx

Certifiers, building owners at risk from insurer cladding exclusion rules

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London’s Grenfell Tower fire has prompted the Victorian government to set up a the taskforce to speed up the investigation into how widely flammable cladding has been used on high-rise buildings in the state.
The Victorian Cladding Taskforce will be jointly chaired by former premier Ted Baillieu, who is also an architect, and former deputy premier and minister for planning, John Thwaites, according to the Real Estate Conversation.
The taskforce will comprise of representatives from Worksafe Victoria, the Metropolitan Fire Brigade, the Victorian Building Authority, the Municipal Association of Victoria and Emergency Management Victoria.
Leading strata management body Strata Community Australia (Vic) has welcomed the government move.
But it said in a media release that flammable aluminium cladding was just the ‘tip of the iceberg’ and the taskforce’s terms of reference must be widened to address unsafe glass panels, and other materials risking lives. 
The Grenfell Tower fire in June killed more than 80 people, and stoked up the fire safety issue around high-rises, both in England and in Australia. 
British audits have revealed 120 high-rise buildings use cladding and insulation similar to that installed at the Grenfell Tower.
In 2014, aluminium composite cladding, similar to that used on the Grenfell tower, was found to have contributed to the spread of a fire at the Lacrosse building in Melbourne's Docklands.
Strata Community Australia had earlier expressed concerns that hundreds of apartment and unit complexes in Victoria may be underinsured.
“The underinsurance of apartments and units could be catastrophic, potentially resulting in millions lost for property owners,” it said.
Commenting on the taskforce, Victorian Minister for Planning Richard Wynne said: "We’re bringing together the key agencies to better detect and address the issue of materials used in a non-compliant way.”
A separate stakeholder reference group, including the building unions, the Master Builders Association of Victoria, and the Housing Industry Association, will also be created, the Real Estate Conversation reported.
The taskforce will be set the mandate of inspecting thousands of apartment blocks built in the last 12 years, but instead of inspections focusing on just one material, Strata Community Australia (Vic) is pushing for the taskforce to make these visits a ‘done once, done right’ experience. 
“The news of thousands of buildings receiving government funded inspections and testing in Victoria is excellent progress, but the building defects crisis unfortunately is not isolated to one material alone,” its general manager Rob Beck said. 
With the growing popularity of glass panel facades and cladding, the threat of substandard products of this variety coming into the market rise too and should prompt quick action, added Beck.
“Similar to the recent Grenfell fire regarding flammable aluminium cladding, we must not wait until a glass panel explodes on a couple sitting on their balcony, or falls to the street below crashing down onto pedestrians.
“There is ample information to suggest this is a problem right now, and we are eager to see these high risk materials dealt with at the same time as flammable cladding, not after.” 
He also said it was not desirable to expect Victorian property owners to bear the expense for remediation “while those causing the issues escape any penalties”.
Though there were no deaths in the Lacrosse Apartments blaze, the owners last year served a $16 million dollar bill to rectify the building, roughly sitting at $40,000 per owner, he said.
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Former Victoria premier to head taskforce on flammable cladding probe

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The use of cheap building materials imported from China could be compromising people's safety, according to construction materials company Boral Limited chief executive Mike Kane.
Concerns about cladding on buildings have been raised in the aftermath of the fire at London's  Grenfell Tower last week in which at least 79 people are feared killed.
The fire has led to speculation about the causal factors and raised questions about the role of building products. 
Kane, who saw several of his products boycotted by unions in Australia due to industrial action, said he was concerned about cheaper materials flooding into the country and being used for the apartment boom, The Australian Financial Review reported.
"The lure of cheap Chinese products that don't meet western standards is part of what has happened in England and Melbourne," Kane told the AFR.
"They do tend to be cheaper and that can be an incentive [for developers]."
The increased use of environment-efficient materials over safety standards could also pose a risk, added Kane.
"There are people who are so focused on climate change that they are forgetting safety. We have multiple obligations when building but the first is structural - the building shouldn't collapse and fire safety is fundamental of all."
Cladding on buildings may not comply with the Building Code of Australia either because of incorrect labelling - an issue industry bodies such as Ai Group have campaigned over - or because builders or subcontractors incorrectly use a product in a role other than that for which it is suited.
Melbourne's Lacrosse building, which caught fire in 2014, is a case in point. Aluminium composite panels of the sort used in Lacrosse are up to standard when used the right way internally but not when put on the outside of the building, as they are not strong enough to withstand fire. 
Last year, the Victorian Building Authority regulator referred building surveyor Anastasios Galanos for disciplinary action by the Building Practitioners Board, alleging he breached the Building Act and regulations when he certified the Lacrosse tower as compliant. 
Last July, imported roofing panels in Perth's newly built Children's Hospital were discovered to contain asbestos. A week later Australian Border Force suspended all imports by materials supplier Yuanda Australia. 
Private construction group Built chief executive Brett Mason also questioned some of the quality of Chinese products in the market.
"There was a flood of products that came in with the right stamps but some of the fittings and cladding were poorer quality and in some cases it looked as though it may not have been given genuine approval," Mason said.
"We now go and test everything ourselves even if it has a stamp of approval on it."
 
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Cheap Chinese building materials pose safety risk, says Boral's Mike Kane

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An average of 58 Australians are killed in house fires each year, according to the Public Health Association of Australia.
With a view to prevent such disasters, Direct Connect and Smoke Alarm Testing Services (SATS) have announced a service that promises to dramatically increase the number of smoke alarm checks across Australia.
SATS’ annual maintenance programme will now be offered to a further 800,000 homes nationally through 3,200 real estate agents, helping agents, landlords, house buyers and tenants comply with smoke alarm requirements.
It will form part of Direct Connect’s free end-to-end moving service available to the 3,200 agents that have partnered with Direct Connect for properties under their management.
Direct Connect has been endorsed by national industry bodies REIA, REIV, REINSW, REISA, REIQ, REIACT, REINT and REIWA.
“Research shows that a working smoke alarm can save lives, but most people don’t realise these alarms need regular maintenance,” Direct Connect CEO Paul Docherty said.
“This service by Direct Connect will give agents access to a best-practice testing and maintenance program to roll out across thousands of properties, potentially saving lives.”
Direct Connect manages all aspects of a person’s move, from connecting electricity and gas to organising insurance, removalists and cleaners and anything else required to make moving day easier.
It has helped more than one million people move so far.
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