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Property Observer Code of Conduct

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A 19th Century gothic palace in Ballarat is up for June 14 tender.
The <a target="_blank" href="https://www.prdballarat.com.au/displayproperty?c=26610&amp;t=R&amp;o=80">home of the first bishop of Ballarat Diocese at 1444 Sturt Street in Ballarat</a> previously had an asking price of $6.5 million.
The heritage-listed property, set on 14,500 square metres, was built in 1873 as the new headquarters for the Ballarat Diocese and its first bishop, Dr Michael O’Connor.
It was designed by Melbourne architect Joseph Reed of Reed and Barnes for £6000. Reed also designed the State Library of Victoria and the Collins Street Independent Church.
Despite being built almost 150 years ago, the two-storey bluestone mansion is in good condition, allowing its new owners to live in it “as is”, said Neil Jens at PRD Nationwide Ballarat.
“It’s only ever had the ecclesiastical church and this family that bought it from about 20 years ago so it’s been beautifully cared for over the years,” he said.
The house features original finishes such as mahogany balustrades on the staircase, a private chapel with an altar of Italian marble with the arms of the then-pope and a two-level cast iron verandah with ecclesiastical designs.
The heritage listed property includes a wine cellar, a formal dining room that seats 50, formal sitting room and library.
While the property’s former life is a piece of of history, the architecture of the property is not typical of its era.
“It’s quite an unusual design of the time...It was built in a gothic style but it was built in the Victorian times,” said Jens.
The six-bedroom six bathroom palace also has modern luxuries including a spa pavillion, barbecue area and home gym, which was formerly the maids’ living quarters.
The castle can be reached by a winding driveway through a lush garden on the three and half acre block. The grounds include a water feature, rotunda and cubby house on its open paddock.
The property is one block from Lake Wendouree which hosted the rowing and canoeing events for the 1956 Summer Olympics.
While there has been limited interest in the property so far, those that have been drawn to the palace has “fallen in love with the home” for residential purposes, not just for its history said Jens.
Jens and Rob McClure are seeking tenders until June 14.
Joseph Reed's buildings include the classical State Library of Victoria (1856), Collins Street Independent Church (1867), Frederick Sargood's Rippon Lea Estate (1868) and Melbourne Trades Hall (1873).
The median house price in <a target="_blank" href="/news">Ballarat</a> is $315,000.
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Bishop's Palace Ballarat: trophy home listing

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PRDnationwide has selected five townships in order to investigate property investment in Australia’s mining towns - with each town defined by diverse regional environments, population sizes, mining activities, level of infrastructure and services, proximity to regional service centres and community establishment.
Perhaps the only commonality shared between these mining towns is the shortfall of housing and the inadequate provision of infrastructure and planning mechanisms to accommodate an ever increasing workforce. The table below provides the list of townships that have been selected for the purpose of this investigation together with a snapshot of the individual housing markets performance during the six months to April 2011 and 2012.
<table width="372" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" rowspan="2" width="19%">
 
 
Township
</td>
<td valign="top" rowspan="2" width="12%">
 
 
State
</td>
<td valign="top" colspan="2" width="34%">
Apr-11 HY
</td>
<td valign="top" colspan="2" width="34%">
Apr-12 HY
</td>
</tr>
<tr>
<td valign="top" width="21%">
Median Price
</td>
<td valign="top" width="12%">
Total Sales
</td>
<td valign="top" width="21%">
Median Price
</td>
<td valign="top" width="12%">
Total Sales
</td>
</tr>
<tr>
<td valign="top" nowrap width="19%">
Moranbah
</td>
<td valign="top" nowrap width="12%">
QLD
</td>
<td valign="top" nowrap width="21%">
$459,500
</td>
<td valign="top" nowrap width="12%">
84
</td>
<td valign="top" nowrap width="21%">
$730,000
</td>
<td valign="top" nowrap width="12%">
129
</td>
</tr>
<tr>
<td valign="top" width="19%">
Dysart
</td>
<td valign="top" nowrap width="12%">
QLD
</td>
<td valign="top" nowrap width="21%">
$450,000
</td>
<td valign="top" nowrap width="12%">
42
</td>
<td valign="top" nowrap width="21%">
$545,000
</td>
<td valign="top" nowrap width="12%">
38
</td>
</tr>
<tr>
<td valign="top" width="19%">
Port Hedland
</td>
<td valign="top" nowrap width="12%">
WA
</td>
<td valign="top" nowrap width="21%">
$1,100,000
</td>
<td valign="top" nowrap width="12%">
31
</td>
<td valign="top" nowrap width="21%">
$1,235,000
</td>
<td valign="top" nowrap width="12%">
23
</td>
</tr>
<tr>
<td valign="top" width="19%">
Singleton
</td>
<td valign="top" nowrap width="12%">
NSW
</td>
<td valign="top" nowrap width="21%">
$345,000
</td>
<td valign="top" nowrap width="12%">
82
</td>
<td valign="top" nowrap width="21%">
$377,000
</td>
<td valign="top" nowrap width="12%">
111
</td>
</tr>
<tr>
<td valign="top" width="19%">
Karratha
</td>
<td valign="top" nowrap width="12%">
WA
</td>
<td valign="top" nowrap width="21%">
$767,000
</td>
<td valign="top" nowrap width="12%">
45
</td>
<td valign="top" nowrap width="21%">
$802,500
</td>
<td valign="top" nowrap width="12%">
54
</td>
</tr>
</tbody></table>
 <table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="21%">
 
 
Township
</td>
<td valign="top" colspan="2" width="39%">
Annual Change
</td>
<td valign="top" colspan="2" width="39%">
Avg. Annual Growth Rate
</td>
</tr>
<tr>
<td width="21%">
 
</td>
<td valign="top" width="21%">
Median Price
</td>
<td valign="top" width="17%">
Total Sales
</td>
<td valign="top" width="15%">
5yr Growth
</td>
<td valign="top" width="23%">
10yr
Growth
</td>
</tr>
<tr>
<td valign="top" width="21%">
Moranbah, QLD
</td>
<td valign="top" nowrap width="21%">
58.9%
</td>
<td valign="top" nowrap width="17%">
53.6%
</td>
<td valign="top" width="15%">
15.2%
</td>
<td valign="top" width="23%">
38.1%
</td>
</tr>
<tr>
<td valign="top" width="21%">
Dysart, QLD
</td>
<td valign="top" nowrap width="21%">
21.1%
</td>
<td valign="top" nowrap width="17%">
-9.5%
</td>
<td valign="top" width="15%">
11.4%
</td>
<td valign="top" width="23%">
32.8%
</td>
</tr>
<tr>
<td valign="top" width="21%">
Port Hedland, WA
</td>
<td valign="top" nowrap width="21%">
12.3%
</td>
<td valign="top" nowrap width="17%">
-25.8%
</td>
<td valign="top" width="15%">
17.1%
</td>
<td valign="top" width="23%">
20.1%
</td>
</tr>
<tr>
<td valign="top" width="21%">
Singleton, NSW
</td>
<td valign="top" nowrap width="21%">
9.3%
</td>
<td valign="top" nowrap width="17%">
35.4%
</td>
<td valign="top" width="15%">
5.3%
</td>
<td valign="top" width="23%">
10.3%
</td>
</tr>
<tr>
<td valign="top" width="21%">
Karratha, WA
</td>
<td valign="top" nowrap width="21%">
4.6%
</td>
<td valign="top" nowrap width="17%">
20.0%
</td>
<td valign="top" width="15%">
7.4%
</td>
<td valign="top" width="23%">
15.6%
</td>
</tr>
</tbody></table>
 
Prepared by PRDnationwide Research: Source: PDS Live
Of the five mining towns, Moranbah achieved the highest median price growth during the April 2012 half-year period, recording an unprecedented 58.8% increase compared with the corresponding period in 2011. The town also led the way is sales activity, registering a total of 129 transactions during the April 2012 half-year period, representing an exceptional 53.6% uplift from the corresponding period in 2011.
Dysart failed to achieve this level of exponential growth, despite having a proximate median price to Moranbah in the April 2011 half-year period. Somewhat overshadowed, Dysart in fact performed extremely well, recording a median price of $545,000 to achieve 21.1% growth during the April 2012 half-year period. Sales volumes however, diluted 9.5% during the six months to April 2012, registering a total 38 transactions.
Port Hedland recorded a median house price of $1,235,000 in the six months to April 2012, undoubtedly the highest median price of all regional mining towns across Australia. With a median price of $1.1 million in the April 2011 half-year period, it is hard to believe that there was any scope in the market to inflate prices further, making the 12.3% increase all the more remarkable.
Singleton recorded a median house price of $345,000 in the April half-year period, making it the most affordable of the five mining towns. As a result the town is gaining momentum, with a 9.3% increase in median price and uplift of 35.4% in sales recorded during the six months to April 2012.
Karratha (including adjoining Nickol and Bulgarra) recorded a median price of $802,500 in the April 2012 half-year period, representing a 4.6% increase from the corresponding period in 2011. Again, while this rate is well below that achieved from the Queensland towns, Karratha is a more established township, and in relative terms, this level of growth from a median price of $767,000 in the April 2011 half-year period is nonetheless very impressive.
There is no doubt that regional mining towns across Australia are producing extraordinary investment opportunities for investors, particularly those with the financial capacity and risk appetite to enter the market. As with any property purchase or investment vehicle, lucrative returns from investing in these mining towns are directly proportionate to the overwhelming level of inherent risk.
The most prominent risk is the sensitivity of rental prices to change drastically over extremely short periods of time. Moranbah provides a perfect case in point, with anecdotal evidence suggesting weekly rental prices as at April 2012 have revised down as much as $800 since the late 2011/ early 2012 and possibly much more since then. Rental evidence provided by the Residential Tenancy Authority (RTA) states the median weekly rent for a three-bedroom house in the March 2012 quarter to be $2,000, compared with $550 recorded over the same period in 2010. This scenario has and continues to occur within the other mining towns, with the constant disequilibrium between housing supply and demand transpiring to excessive volatility in the rental market.
There are many factors that contribute to demand for housing, with the most obvious and most detrimental being the performance of the mine/mines that the town services. This is very much the case for Moranbah, with BHP Billiton-Mitsubishi Alliance (BMA) issuing statements to overseas dependants that it will will fail to meet requirements as the mines experience limited production during what has been a bad wet season (November to April). This has been further exacerbated by rolling weekly strikes by miners as BMA goes hard on its enterprise agreement with the unions. BMA has taken advantage of the situation and has refused to sign any lease agreements since earlier in the year. Vacancies have thus increased and rents corrected accordingly, with only the fortunate investors with unexpired lease agreements unaffected at this point in time.
Another example, possibly more severe, was the closure of an underperforming mine (BMA’s Norwich Park) in April 2012 near Dysart, which sent shock waves throughout the local community, with 1,400 jobs threatened and the flow-on effects to the property market yet to be fully realised. Approximately 400 of these workers are residents of the Dysart community, and some will be redeployed to the Saraji mine, while others will likely relocate to other towns or centres in the region.
As an immediate result, it is anticipated that vacancy levels will increase, therefore correcting rental prices and subsequent capital values. Some investors will wear their losses and maintain their prospects for further growth while others will consolidate their earnings and opt to exit the market. Once again, as prices soften, opportunities will arise for investors to take advantage of high rental yields and enter a market they perhaps couldn’t afford previously. However, as has been the case for Moranbah, the influx of investors looking capitalise on such an opportunity will flood the market with more rental properties, putting further pressure on rental prices and ultimately diluting these supercharged yields.
Despite the sensationalist predictions of some media proponents, the size of pipeline expansions for existing mines in the Dysart area is likely to navigate the property market from an imminent bust. In fact, the number and size of mines planned to open or expand in the Isaac Region of Queensland in the future will surely prevent towns like Moranbah and Dysart experiencing a collapse in the market any time soon.
Perhaps the most significant problem facing mining towns in the future is the expansion of campsites to accommodate a growing fly-in fly-out (FIFO) workforce in order for mining companies to reduce their cost base. Basically, the benefit of this strategy to the resident community of the town is that it will effectively drive rents and subsequent capital values in the housing market down to more affordable levels, preventing non-mining workers who perhaps are renting from being priced out of the market and forced to relocate. However, on the other hand, the added strain on essential services caused by the lack of direct investment from mining companies and local governments into adequate community infrastructure and businesses, demonstrates a more cynical consequence.
The lure of higher pay packages offered by the mines is aggravating the problem as many business struggle to maintain enough staff to operate efficiently, if not at all. The implications of a growing FIFO workforce have been debated among industry, politicians, lobbyists and community for quite some time now. There are advocates both for and against increasing the proportion of FIFO workers in and around town, with the decision likely to be resolved with government intervention. Either way, this is yet another factor which must be closely monitored by would-be and existing investors of mining towns.
For investors with short-term investment horizons and an appetite for risk beyond the norm, then this may be the ideal time and asset class to invest. However, for a majority of would-be investors, perhaps the next best thing would be to consider the major regional centres that service these remote mining towns. Gains may not be as lucrative or as quick to come by, but the long-term sustainable growth prospects afforded by these multi-industry centres (most of which are independent of the mining boom though indirectly benefit from its growth and success) are perhaps the better weighted investment. Many spectators will be paying special attention to the towns of Moranbah and Dysart during 2012; using the benefit of hindsight to measure and validate the repercussions and extent certain events have on their property markets.
Aaron Maskrey is research director at <a target="_blank" href="https://www.prdnationwide.com.au/">PRDnationwide</a>.
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Property investors without an appetite for risk should consider major regional centres rather than mining towns

The federal government’s proposed changes to negative gearing and capital gains tax concessions are expected to reshape where investors direct their attention over the coming years.

Under the policy settings, established properties would lose access to both incentives, while new and off-the-plan apartments would retain them, creating a clear advantage for buyers willing to purchase into the development market instead.

That shift comes at a time when the supply of traditional investor-grade apartments has already become increasingly limited.

For years, one-bedroom apartments formed the backbone of investor demand. Compact, lower-priced and typically positioned in high-demand locations, they were the type of stock developers actively brought to market.

Today, the development pipeline across New South Wales looks very different.

Projects are increasingly geared towards owner-occupiers, with larger three and four-bedroom apartments dominating many new developments. While there are still some one-bedroom and smaller two-bedroom configurations available, genuine investor-focused stock is no longer as common as it once was.

With investors now expected to look more closely at the new apartment market, we analysed the projects currently on offer across New South Wales for buyers reconsidering the established market.

We focused on developments priced around $1 million, a realistic ceiling for many investors in the current lending environment. In precincts closer to the CBD, that budget will typically secure a one-bedroom apartment, while in a number of growing middle-ring and outer suburbs, it can still stretch to a two-bedroom unit.

<h3>Danks St District, Waterloo</h3>

Price: From $985,000

One of the largest mixed-use developments currently underway in Sydney's inner south, DASCO Australia's Danks St District will transform a 1.7-hectare site on Bourke Street into a six-building residential precinct with more than half of the site dedicated to open space.

[smartcode_project:default project_id=111820 project_image_fid=344699]

The project offers one, two and three-bedroom apartments, terraces and penthouses within walking distance of Surry Hills, Centennial Park and the future Waterloo Metro Station. For investors seeking a blue-chip inner-city location, it is one of the few opportunities to secure a new apartment under $1 million this close to the CBD.

Danks St District also has the sought-after 10-year Latent Defects Insurance by Resilience Insurance, covering an investor for any major structural or waterproofing issues that may arise within the first 10 years of the building completing.

<h3>Senso, Epping</h3>

Price: From $835,000

Epping continues to attract strong buyer demand thanks to its connectivity, schooling options and growing town centre. Senso, a five-building development by DASCO, will deliver 479 apartments adjacent to the future Epping Town Centre masterplan.

[smartcode_project:default project_id=134954 project_image_fid=4396]

The project is just a short walk from Epping Metro Station, providing direct access to Macquarie Park, Chatswood and the Sydney CBD. One-bedroom apartments start from $835,000.

DASCO has also taken out Resilience LDI on Senso.

<h3>Willow, Wentworth Point</h3>

Price: From $735,000

Wentworth Point has emerged as one of Sydney's fastest-growing apartment markets, underpinned by major infrastructure investment and improving transport links.

[smartcode_project:default project_id=6969 project_image_fid=228633]

Willow forms the latest stage of Sekisui House Australia's $2 billion Sanctuary masterplan and will deliver 309 apartments across a mix of low-rise buildings and a 28-storey tower. One-bedroom apartments start from $735,000, offering one of the more accessible entry points into Sydney's waterfront apartment market.

<h3>Mason &amp; Main, Merrylands</h3>

Price: From $498,000

For investors focused on affordability and immediate rental returns, Mason &amp; Main stands out as one of the few completed projects on this list.

[smartcode_project:default project_id=31751 project_image_fid=359818]

The Coronation Property development comprises 415 apartments in the heart of Merrylands, directly opposite Stockland Merrylands and just 350 metres from the train station. Studios start from $498,000, while one-bedroom apartments are available from $635,000.

<h3>Zeste, Norwest</h3>

Price: From $755,000

The final apartment release within Sekisui House Australia's $1 billion Orchards masterplan, Zeste marks the completion of a community more than a decade in the making.

[smartcode_project:default project_id=150510 project_image_fid=351885]

Positioned 600 metres from Norwest Metro Station, the project offers one to four-bedroom apartments and access to extensive communal amenities and established parklands. One-bedroom apartments start from $755,000.

<h3>The Residences at Wahroonga Estate, Wahroonga</h3>

Price: From $895,000

New apartment supply in Wahroonga is exceptionally rare, particularly at scale.

[smartcode_project:default project_id=135247 project_image_fid=284378]

The first stage of the 64-hectare Wahroonga Estate masterplan will deliver 133 apartments surrounded by bushland and established Upper North Shore amenity.

For investors seeking exposure to one of Sydney's most tightly held markets, one-bedroom apartments start from $895,000.

<h3>Aeris, Melrose Park</h3>

Price: From $724,000

Melrose Park is set to become one of Sydney's largest urban renewal precincts over the next decade, with thousands of new homes planned alongside significant transport and retail infrastructure.

[smartcode_project:default project_id=426 project_image_fid=355197]

Aeris is the sixth stage of Sekisui House Australia's $5 billion masterplan and will deliver 468 apartments across three towers. One-bedroom apartments start from $724,000.

<h3>Dawn, Melrose Park</h3>

Price: From $704,000

Also within the Melrose Park masterplan, Dawn offers one of the lowest entry points on this list.

[smartcode_project:default project_id=145496 project_image_fid=334164]

Developed by Sekisui House Australia and Hankyu Hanshin Properties, the project comprises 368 apartments across four buildings, with one-bedroom apartments starting from $704,000.

<h3>The Rothschild, Rosebery</h3>

Price: From $799,000

Completed projects are becoming increasingly difficult to find in Sydney's inner south, making The Rothschild a notable opportunity for investors wanting immediate rental income.

[smartcode_project:default project_id=106843 project_image_fid=256816]

The Deicorp development sits within walking distance of The Cannery, Green Square and Gunyama Park, with one-bedroom apartments available from $799,000.

<h3>Larool Crescent, Castle Hill</h3>

Price: From $730,000

Castle Hill remains one of Sydney's strongest-performing metro-connected suburban markets, supported by major retail amenity and direct rail access to the city.

[smartcode_project:default project_id=135330 project_image_fid=289121]

CPDM's Larool Crescent development will deliver 113 apartments and townhouses just 600 metres from Castle Hill Metro Station. One-bedroom apartments are priced from $730,000.

<h3>The Avenues, Zetland</h3>

Price: From $803,000

Directly opposite Gunyama Park and Aquatic Centre, The Avenues forms part of Deicorp's broader $874 million East Zetland precinct.

[smartcode_project:default project_id=146262 project_image_fid=357151]

The development combines park-front living with proximity to Green Square Station and the CBD, while one-bedroom apartments remain available from $803,000.

<h3>The Kensington, Kensington</h3>

Price: From $1.03 million

While sitting slightly above the $1 million threshold, The Kensington remains one of the few opportunities to secure a brand-new apartment in Sydney's tightly held eastern suburbs.

[smartcode_project:default project_id=110959 project_image_fid=371479]

Located just four kilometres from the CBD, the TOGA development benefits from direct light rail access and proximity to UNSW, Prince of Wales Hospital and the broader K2K precinct.

The building has recently completed, and will welcome residents soon.

<h3>Lillian, Erskineville</h3>

Price: From $1,075,000

Erskineville rarely sees significant new apartment supply, particularly in locations adjacent to major parkland.

[smartcode_project:default project_id=135149 project_image_fid=368154]

Coronation Property's Lillian overlooks the new McPherson Park and sits just 3.5 kilometres from the CBD. While one-bedroom apartments are priced slightly above $1 million, the combination of location and limited competing supply places it among Sydney's most compelling inner-city apartment opportunities.

<h3>La Vera, Macquarie Park</h3>

Price: From $700,000

Macquarie Park continues to evolve from a commercial hub into one of Sydney's most significant mixed-use centres.

[smartcode_project:default project_id=134951 project_image_fid=358802]

Urban Property Group's La Vera offers one-bedroom apartments from $700,000, placing it among the most affordable new apartment opportunities in a precinct supported by metro rail, employment and education infrastructure. La Vera is another project with the sought-after 10-year Latent Defects Insurance.

Joel Robinson

Investors to turn to new and off the plan apartments after federal government changes spark hunt for Sydney’s best sub-$1 million projects

Fitzroy is set for another apartment development in keeping with its cool, urban heritage.

The busy&nbsp;<a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a>, which is also progressing projects in Thornbury and Surrey Hills, has plans for <a href="https://www.apartments.com.au/new-apartments/11-13-spring-street-fitzroy-vic-3065">14 new apartments at&nbsp;11–13 Spring Street</a>, near Johnston Street and the tram route along Nicholson Street.&nbsp;

The proposal has been submitted through Victoria's Great Design Fast Track pathway and would see the retention and integration of two contributory heritage buildings on the corner of Spring and Argyle Streets, combined with a contemporary apartment development rising up to eight storeys.

Designed by award-winning Melbourne architecture practice <a href="https://www.apartments.com.au/architects/edition-office">Edition Office</a>, the project would deliver 14 apartments across three distinct building forms. Rather than adopting a conventional tiered apartment form, Edition Office has broken the development into three separate volumes connected by a central void inspired by Fitzroy's network of laneways.

"Celebrating the fine grain of Fitzroy with simple, abstracted forms, three distinct built elements are proposed rather than a single monolithic 'wedding cake' tiered arrangement," the design report states.

<img alt="First look: Antipodean Land Developments plans heritage-led Fitzroy apartment project" data-entity-type="file" data-entity-uuid="cdcb1ced-fca6-41a6-adf5-901603e6310d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_6.png?VersionId=CAYRBBvysDCvrjmcRhjkIJDS6QnTph0_" />

The project is proposed on a 554 sqm corner site within the South Fitzroy Heritage Precinct. Existing buildings include a former two-storey warehouse fronting Spring Street and a former terrace house on Argyle Street, both identified as contributory heritage places. The proposal retains the heritage facades and visible return walls, integrating them into the new built form while introducing additional residential density on the site.

The development would comprise 12 three-bedroom apartments, one two-bedroom apartment and one one-bedroom apartment, reflecting a focus on larger inner-city residences suited to owner-occupiers and families seeking proximity to Melbourne's CBD.

Ground level would accommodate communal indoor and outdoor spaces designed to foster interaction between residents and the surrounding neighbourhood. Vehicle parking would be concealed behind the retained heritage buildings, while resident bicycle parking and rooftop communal landscaping are also proposed.

Edition Office said the design was heavily influenced by the area's industrial and residential heritage fabric.

"The proposal seeks to provide a new addition to this existing fabric emerging from the historic values and syntax of Fitzroy's architectural motifs, utilising contemporary design and construction techniques," the architects noted.

The design draws on the character of South Fitzroy's red-brick warehouses and Victorian terraces, with the architects seeking to create a contemporary building that responds sensitively to its heritage context through materiality, scale and façade articulation.

Antipodean Land Developments has established a reputation for design-focused residential projects across Melbourne's inner north. The family-owned developer's previous projects include Neighbourhood in Brunswick East with Breathe Architecture and Balfe Park Lane in Brunswick East with Kerstin Thompson Architects.

They are currently advancing plans for <a href="https://www.apartments.com.au/news/vic/first-look-antipodean-land-developments-plans-heritage-led-apartment-community-in-surrey-hills">76 apartments and townhouses in Surrey Hills</a>, on the site of the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

First look: Antipodean Land Developments plans heritage-led Fitzroy apartment project

Burwood's expanding high-rise skyline could soon push further west, with <a href="https://www.apartments.com.au/developers/nascon-group">Nascon</a> lodging plans for a new apartment tower that would deliver more than 100 homes on the edge of the town centre.

The developer has filed a State Significant Development application over 17-19 Conder Street and 21 Conder Street, seeking approval for a <a href="https://www.apartments.com.au/new-apartments/17-21-conder-street-burwood-nsw-2134">16-storey building with around 112 apartments</a>, including around 11 affordable housing dwellings.

The proposal would replace the existing buildings on the 1,387 sqm site, located about 500 metres from Burwood Station and positioned between the established high-density core of Burwood Town Centre and surrounding lower-scale residential neighbourhoods.

<img alt="First look: Nascon targets Burwood growth corridor with 112-unit apartment tower" data-entity-type="file" data-entity-uuid="42661fa8-5d3c-4a81-9b72-458dbaa8c3bd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_14.png?VersionId=CMvGvlno3zjvU7_.JL8ChjWPIactF9bV" />

Designed by <a href="https://www.apartments.com.au/architects/kennedy-associates-architects">Kennedy Associates Architects</a>, the project has been conceived as part of Burwood's ongoing transition toward higher-density housing around major transport infrastructure.

"The building employs massing, articulation, and materiality to create a balanced, restrained, and contemporary residential tower that can both stand alone and contribute to the evolving urban character of Burwood," the architect said in the Design Report.

Plans currently on exhibition include a mix of market and affordable housing apartments, communal open space, landscaping, bicycle parking, and basement parking. The affordable housing component would account for around 10 per cent of the total apartments proposed.

Kennedy Associates Architects said the design responds directly to the site's role as a transition point between Burwood's high-rise town centre and surrounding residential areas.

"The Conder Street façade, as the public face of the building, responds to its role as an 'end' building by resolving the street wall and delivering public space to the street," the Design Report states.

<img alt="First look: Nascon targets Burwood growth corridor with 112-unit apartment tower" data-entity-type="file" data-entity-uuid="089306ae-62d3-4321-94bc-4be5351794a8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/burwood%20da.png?VersionId=S_NRQJwmUJtybLwgV2mXA7iUEqjk0.5R" />

The architects also noted the building's location less than 200 metres from significantly taller developments already approved or under construction within Burwood Town Centre, reflecting the area's changing urban character.

The site sits within walking distance of Westfield Burwood, Burwood Park, Burwood Library, several schools, medical facilities, and a range of retail and dining offerings concentrated around Burwood Road and The Boulevarde. It is also near the planned Burwood Cultural House precinct, which is expected to introduce new public open space, cultural facilities, and community infrastructure to the area.

The proposal arrives as Burwood continues to emerge as one of Sydney's most active apartment development markets with numerous existing, approved and proposed projects across the town centre ranging from 20 to more than 40 storeys. Burwood North was <a href="https://www.apartments.com.au/news/nsw/nsw-government-to-rezone-burwood-north-and-trigger-15-000-new-homes-near-future-sydney-metro-station">rezoned last year</a>, which trigger around 15,000 new homes around the future Burwood North Metro Station.

First look: Nascon targets Burwood growth corridor with 112-unit apartment tower

Brisbane has emerged as one of the country's most compelling property markets over the past five years. It feels like a lifetime ago that Sydney and Melbourne dominated the conversation as Australia's benchmark housing markets. Fast forward to 2026, and Brisbane hasn't just joined that conversation, it's leading it.

One of the first questions I'm asked when speaking with developers, planners and industry leaders in Sydney and Melbourne is, "How's the market in South East Queensland?"

The region has become, and continues to be, the envy of the southern states. Developers from across the country have shifted their attention north, attracted by strong population growth, robust demand fundamentals and a planning environment that is often viewed as more supportive of new housing supply. Just as importantly, many are drawn by the lifestyle that South East Queensland offers.

While many locals have been surprised by the pace of growth in recent years, there has long been a belief that Brisbane was undervalued relative to Australia's other major capitals. The transformation of lifestyle destinations such as Howard Smith Wharves and Queen's Wharf, coupled with Brisbane's proximity to the Gold Coast and Sunshine Coast, has elevated the city's appeal and helped it realise the potential many believed was always there.

I recently caught up with several of the developers shaping Brisbane's next wave of apartment projects to understand what they're seeing on the ground, where demand is coming from, and how much further the city's property market can run.

<h2>Brook Monahan 
<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a></h2>

The fundamental drivers of Brisbane's housing dynamics in 2026 are straightforward: a generational transfer of wealth on a scale Australia has never seen, and migration numbers that continue to exceed expectations.

An enormous amount of wealth will move through the next decade. That wave isn't going anywhere. Simultaneously, you can't run migration at the numbers we're seeing, while also having a generational shift of wealth from boomers, and not expect demand to remain strong.

People move here, they bring money, they want to buy a home and create a future.

[smartcode_project:default project_id=134792 project_image_fid=328119]

While top-end product in some pockets has softened from the frenzy of 18 months ago, the wave will remain pretty strong, especially for developers with brand trust and a long-term track record.

The $4 million to $10 million segment remains fairly robust, but buyers are much more educated now than they've ever been. They have access to information and they're smart people. They're generally not willing to trust a new entrant asking $15 million with no track record.

This heightened consumer discernment is reshaping how developers evaluate premium projects.

<h2>Don O'Rorke 
<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a></h2>

Brisbane's property market is no longer defined by demand, but by delivery.

Strong population growth and the infrastructure pipeline linked to the 2032 Summer Olympics continue to drive long-term confidence, but the key question has shifted. No longer are we asking if enough demand exists, but how much new supply can realistically be delivered in time.

Construction times and costs are the defining constraints.

[smartcode_project:default project_id=150713 project_image_fid=359987]

Costs remain high and are increasingly unpredictable. Recent geopolitical tensions have driven sharp increases in diesel, petrol and key building inputs such as cement and PVC, adding between 3 and 5 per cent to project costs. That can add as much as $125,000 to the entry price of a new three-bedroom luxury apartment.

At the same time, the industry is heading into a period of heightened competition for labour. As Olympic and infrastructure projects ramp up, the availability of skilled trades will tighten further, placing additional pressure on both cost and program.

In this environment, development becomes more selective. There is less margin for error, which is why the focus is shifting decisively toward premium sites and high-quality product.

Only projects with strong fundamentals, considered design and a genuine point of difference will justify the cost of delivery.

<h2>Dan Boman 
<a href="https://www.apartments.com.au/developers/fortis">Fortis</a></h2>

Whether Brisbane can sustain its significant dwelling growth remains the million-dollar question.

However, we are seeing considerable depth in the local market, particularly in premium suburbs. Local buyers in these areas are largely not price-sensitive. Many have built substantial wealth in their family homes, with much of that growth occurring over the past five years.

The scale of this appreciation has surprised even long-term homeowners, prompting many to think more strategically about their next move and, in some cases, to speed it up.

[smartcode_project:default project_id=145922 project_image_fid=371404]

&nbsp;

These buyers are increasingly informed, paying close attention to supply constraints across the state and recognising the limited opportunities likely to emerge in blue-chip suburbs in the coming years.

While they remain considered in their decision-making, their focus has shifted more towards quality, premium inclusions, fixtures, finishes, and amenities rather than price alone.

Given the constrained pipeline in the premium downsizer segment, there is little to suggest this end of the market will slow in the near term. We expect this momentum to continue throughout the year and well into 2027.

<h2>John Kearney 
<a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a></h2>

Brisbane has been one of Australia's most consistent and resilient property markets for a long time, well before the Olympics-induced demand spike.

A key driver of that resilience is the city's economic foundation. Brisbane is home to a significant number of public sector roles, as well as the headquarters of major mining and resources companies. Regardless of broader market cycles, these employment bases remain relatively stable, supporting ongoing housing demand.

The global attention on the Olympics has also highlighted a gap in the market, particularly in the middle segment, broadly ranging from the $800,000s to the high $1 millions.

This product is rarely found in the inner city or on the outer fringe. Instead, it is best suited to what we describe as the urban fringe. This is where we see the greatest opportunity.

It caters to a segment of buyers seeking quality, well-located homes without the premium price tag of top-end product, and remains one of the most undersupplied parts of the Brisbane market.

<h2>Christie Leet 
<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a></h2>

The more well-trodden path for developers operating across both Brisbane and the Gold Coast has typically been for those based in the capital to expand south to the Coast. We've taken the opposite approach, recently expanding into the Brisbane market, and we're glad we did.

Similar to the Gold Coast, where we introduced Flourish, a brand focused on delivering more price-accessible apartments, we identified the same gap emerging in Brisbane.

[smartcode_project:default project_id=7574 project_image_fid=351654]

There is strong demand for one-bedroom apartments under $1 million and two-bedroom apartments under $1.5 million, yet these options remain relatively scarce in a market increasingly dominated by larger, downsizer-oriented product priced well above $2 million.

A number of macro factors are shaping the development landscape, from both a construction and buyer perspective, including cost escalation and higher interest rates.

The entry-level market is being squeezed from both sides, which inevitably pushes up the prices required to deliver new apartments.

In our view, the strongest opportunities currently sit within this segment of the market, and we expect that to remain the case in the years ahead.

Where is the Brisbane market heading?

Australia Post is one of the country’s most trusted institutions, powering one of the largest delivery networks in Australia. As online shopping continues to scale, Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online.

That scale of eCommerce activity has fundamentally changed expectations around how and when parcels arrive, and what happens when someone isn't home.

<h3>Problem solved with Parcel Lockers</h3>

The traditional alternatives to home delivery are far from ideal. Buildings can rely on reception teams to manage deliveries, which introduces ongoing staffing costs and liability concerns. Parcels can be left in common areas, which creates security and aesthetic issues. Or residents are redirected to nearby Post Offices for collection, which shifts the inconvenience rather than solving it.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/dVG5ChLHf7E?si=D9hQRGCBuzlSQBqK" title="YouTube video player" width="560"></iframe>

The data behind that frustration is significant. Nationally, around 9 per cent of deliveries are carded, meaning the recipient was not home and must collect the parcel from a Post Office. That figure reflects the national average reported between November 2025 and January 2026. In Melbourne, that figure rises to 20 per cent. In high-density living, it climbs again to 28 per cent. In other words, more than one in four deliveries in Melbourne apartment buildings results in a failed first attempt.

<h3>How Parcel Lockers work</h3>

The mechanics are simple. When a parcel arrives, the resident receives a notification either through the Australia Post app or via SMS. They scan a QR code, use their one-time PIN and the compartment opens. The parcel is secure, accessible and removed from the lobby floor.

Located in thoughtfully chosen, easily accessible areas, including external building interfaces, mixed-use precincts or shared communal zones, Parcel Lockers enhance convenience without requiring internal building access or additional operational oversight.

<h3>The scale of the network</h3>

This expansion represents Australia Post's largest investment in parcel infrastructure to date, building on momentum that began in 2011 when the first 24 Parcel Locker sites were introduced.

Today the Australia Post Parcel Locker network spans over 1,400 locations and more than 105,000 individual compartments, with major investment already underway to significantly expand the network further.

<h3>What it means for developers and building operators</h3>

A Parcel Locker bank is free to install and free for residents to use. That removes one of the primary barriers to adoption and shifts the conversation from cost to integration.

Australia Post's preference is to engage with developers during the design phase. That allows Parcel Lockers to be located in a considered, publicly accessible space that works for residents and the broader community. Retrofit is possible, and existing buildings can be assessed, but the strongest results occur when Parcel Lockers are treated as part of the core services plan rather than a bolt-on solution.

While the iconic Australia Post red is widely recognised, Parcel Lockers can also be delivered in more muted palettes such as beige or green to align with architectural intent.

For developers, they offer a tech-forward amenity that meets modern expectations, a reduction in courier congestion and building-management load supporting lower emissions and better ESG outcomes, and a meaningful marketability advantage in high-density, eCommerce-active areas, all at no cost for installation and maintenance, with Australia Post funding the program aside from power access.

<h3>Who's using them</h3>

Generational shopping behaviours show strong, sustained growth across all cohorts. Millennials (27–43) led online spend in 2024, contributing nearly $25 billion. Baby Boomers (60–78) increased their online spend by 17.6 per cent, becoming the fastest-growing adopters. Gen Z (13–26) and Gen X (44–59) continue to lean on delivery services as part of their everyday shopping habits.

Internationally, uptake is even more pronounced. Overseas markets are seeing rapid adoption by both developers and consumers, positioning Parcel Lockers as standard infrastructure in many new residential projects. For Melbourne's development community, this signals a shift in baseline expectations. Just as secure bike storage and dedicated parcel rooms have become more common, integrated Parcel Locker networks may soon be viewed as part of the essential service mix.

<h3>The bigger picture</h3>

Parcel Lockers aren't just a logistics fix. Developers invest heavily in lobby design, materials, lighting and landscaping to shape first impressions. Yet a stack of unattended parcels can undo that effort in an instant. Embedding parcel infrastructure early allows projects to respond to how people actually live today, supporting resident satisfaction, reducing operational strain and aligning with broader community and ESG outcomes.

As Belinda Quinn, Senior Transaction Manager – Retail &amp; Out of Home at Australia Post, puts it, residents increasingly expect delivery solutions that align with real life, are flexible, secure and available whenever they need them.

Aaron Maskrey

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