Despite one of the most challenging property markets in recent years, 2026 has been a defining year for Abadeen. With eight project completions across Sydney, Melbourne and the Gold Coast, a growing development pipeline and a strategic expansion into residential communities, the developer has continued to push forward while much of the market remains cautious.

In Episode 121 of the Market Insights podcast, Apartments.com.au Editor-in-Chief Joel Robinson sits down with Abadeen Founder Justin Brown to discuss the company's growth, changing buyer behaviour, rising construction costs and where he sees the next opportunities in Australia's residential property market.

A challenging market, but buyers are still looking

Brown describes the current property cycle as a "perfect storm" of rising costs, economic uncertainty and subdued buyer confidence. Yet unlike previous downturns, enquiry levels have remained relatively resilient.

"People are still interested about property. They're still looking," Brown says. "They just don't know where to catch a falling knife at the moment."

For Abadeen, whose core apartment buyers are downsizers, the challenge isn't necessarily affordability but confidence. Many prospective purchasers are waiting for greater certainty around the value of their existing homes before committing to an apartment.

Interestingly, Brown says Melbourne is currently outperforming Sydney in sales conversion, with buyers increasingly confident that the city's prolonged period of subdued property prices is nearing its end.

Abadeen's Melbourne projects have reflected that shift, with its Prahran development approximately 80 per cent sold and North Caulfield reaching 60 per cent.

Eight completions and a strategic expansion

While market conditions have tested developers, Abadeen has maintained an ambitious delivery schedule.

The company expects to complete eight projects in 2026, spanning its established Sydney market, Melbourne's inner eastern suburbs and the Gold Coast.

"It has been a big year. It's been a year not for the faint-hearted," Brown says.

Beyond completing existing developments, Abadeen has been positioning itself for its next phase of growth.

A key part of that strategy has been expanding its residential communities division through a venture with Matthew Mears and his team, bringing decades of experience in masterplanned communities.

The business now has a pipeline of approximately 3,500 dwellings across Western Australia, New South Wales and South East Queensland.

At River in Calderwood, in the Illawarra, Abadeen sold 48 of its first 52 land lots within a month of launching, demonstrating the strength of demand for well-located house-and-land opportunities.

Finding the next opportunity in Sydney's missing middle

Another significant focus is bringing more attainable premium apartments to established Sydney suburbs.

Brown says escalating construction costs have made delivering apartments at accessible price points increasingly difficult.

"If you were trying to produce an 80 square metre unit on the Lower North Shore back in 2017, we could have produced that for under $500,000. Now we struggle to produce it under a million dollars."

Abadeen is responding by seeking locations where it can deliver apartments priced around $25,000 to $27,000 per square metre, opening its developments to a broader mix of purchasers.

The Northern Beaches is a particular focus, with sites in Manly, Dee Why and Narrabeen, where a proposed development of approximately 100 apartments is progressing through planning.

For Brown, the opportunity lies in established neighbourhoods with strong lifestyle appeal, infrastructure and limited new apartment supply.

Why certainty and design remain central to Abadeen's approach

Throughout the conversation, Brown returns to two defining principles: thoughtful apartment design and confidence in delivery.

"We are a design-led company versus a construction-led company," he explains.

Abadeen works closely with architects and sales teams from the earliest design stages, drawing on direct buyer feedback to refine layouts, living spaces and storage.

The developer is also increasingly prepared to commence construction without traditional pre-sale thresholds, supported by long-standing funding relationships.

In Mosman, developments including The Baron at Balmoral are progressing with this approach, allowing purchasers greater certainty around completion rather than waiting for sufficient sales to trigger construction.

Brown believes that certainty is particularly important for downsizers planning their next stage of life.

Looking ahead to 2027

As the conversation turns towards the future, Brown argues that Australia's housing challenge cannot be solved through planning approvals alone.

The real measure of progress, he suggests, is how many homes actually commence construction, particularly as regulatory complexity, labour shortages and rising building costs continue to constrain supply.

For Abadeen, the focus heading into 2027 is clear: deliver its existing pipeline, continue expanding into carefully selected markets and find ways to create housing that balances design quality with greater accessibility.

Watch the full Market Insights Episode 121 to hear Justin Brown and Joel Robinson discuss Abadeen's growth, the outlook for Sydney and Melbourne, and the challenges shaping Australia's next generation of housing.