Property development feasibility software, evaluated

The four real options

Australian residential developers have four real choices for running a feasibility: a spreadsheet (Excel, usually), a downloaded template, legacy desktop software (EstateMaster, Feastudy, ARGUS Developer), or modern feasibility SaaS (Popurise and a small handful of others).

What to actually look for

• AU-specific cost stack.GST, statutory contributions, S-curve finance drawdown, agent fees on completion. If you're working in Australia, this isn't optional.
• Monthly cashflow, not annual. Annual rollups under-state peak debt, the very thing your senior lender tests against.
• Scenario comparison. A real residential feasibility involves at least three scenarios. They need to live in the same project, not in separate files.
• Web-native access. You need to open the model on the site visit, not back at the office.
• Output that's IC-ready. A clean PDF, not a print of a spreadsheet.

Where each category fits

Spreadsheets are right for one-off bespoke calculations. They are wrong for the recurring feasibility workflow, too much maintenance for too little structure.

Templates are a frozen guess at your project. They get you started, but the first change usually breaks something.

Legacy desktop softwarehas decades of feature depth and is well-suited to large multi-stage commercial projects. For boutique Australian residential, it's usually more tool than the job needs.

Modern feasibility SaaS, like Popurise, is built for the recurring feasibility workflow. Web-native, fast to onboard, sized for residential.

How to decide

Match the tool to the workflow. If you run two or more feasibilities a month, a structured tool pays back inside a month. If you run one a quarter, a spreadsheet is probably fine.