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Ideal for the gourmand investor, the Cottage Point Inn in Hawkesbury has come onto the market for the first time in 23 years.
Investors can’t be too shy of water, as the restaurant sits on the waterfront in the Kuringai Chase National Park and is accessible by seaplane or ferry. Alternatively it’s a 40-minute drive from Sydney.
Originally a boat shed and general store, it was converted in the 1970s and has been operated by Daniel McKinnon for the last 20 years. The property is currently owned by yachtsman Dr Tony Fisher and his daughter Sally Smith through their company Helsal Investments Pty Ltd, named after the 70-foot concrete yacht Helsal which Fisher captained to win line honours at the 1973 Sydney to Hobart yacht race. They bought the property in 1989.
Steve Daley, of Irish and Maltese descent, is the current head chef after 15 years in the hospitality industry, including an apprenticeship at the Pier and time in Europe focusing on French training and techniques. He is reportedly an avid fisherman is often seen on the river fishing for jewfish and kingfish with other staff members.
The restaurant has a private floating deepwater pontoon for seaplanes and large boats for use by diners and guests. A package including sea plane charter from Sydney to the restaurant and a three-course meal costs $485 per person.
Cottage Point Inn includes two fully self-contained apartments, which along with the restaurant pay rent of $313,750 a year. The tenants pay all outgoing costs, including a $20,000 National Parks &amp; Wildlife licence. The apartments start at $220 a night.
The restaurant and apartments are on a five-year leases signed on April 1 plus five-year renewal option.
LJ Hooker Palm Beach agent Peter Robinson expects the buyer will also pick up a timber cottage at the back of the property on the same auction day.
On a separate title the 853-square-metre, three-bedroom home is being offered as part of a combo deal.
Robinson is expecting about $5 million for the two properties if bought together but says if there is no investor interest in buying both the vendors are willing to sell the Cottage Point Inn Restaurant and Apartments title for around mid-$3 millions plus GST and the residential house in the mid-$1 millions.
Cottage Point Inn and the house go to auction on May 31.
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awalsh-7Ub9EypybQ

Cottage Point Inn and apartments in Hawkesbury on the market

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"The cockroaches have even moved out" is the marketing tagline for a waterfront property up for sale in Church Point, near Bayview.
It’s an old fisherman’s cottage on 390 square metres of bayside land that has been held by the same family for 40 years.
The dilapidated home is nestled among a row of renovated prestige Sydney Pittwater properties, each with jetties into the water.
The home, with views across to national park land is marketed as an opportunity to demolish and start from scratch.
Ross Ewington from LJ Hooker Mona Vale hopes to secure around $800,000 at auction.
 
 
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Cockroach-free Church Point waterfront cottage  on the market 

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Western Australian Treasurer and Attorney-General Christian Porter says a flat housing market has cost the state government an estimated $836 million in projected stamp duty over the next four years.
In his budget speech to Parliament he said “transfer duty forecasts in this budget have been revised down by $836 million, reflecting ongoing weakness in the housing market”.
Porter told Fairfax Media house buyers were waiting for the market to bottom out.
“You would hope that it would improve, but right now there is not movement,” he said.
“Buyers still think that the bubble that burst after 2005 and 2006’s extraordinary growth has not yet quite reached the bottom.”
Budget papers show transfer duty was about $1.2 billion for both 2010-11 and 2011-12, a figure expected to go up 17.7% to $1.45 billion for 2012-13. The government predicts a 17.7% rise to $1.45 billion next year, with the start of a recovery in the market.
The budget Porter presented says transfer volumes has been low in recent years but is expected to improve.
“Housing transfer duty has suffered from weak established housing transaction volumes and house prices in recent years, with average monthly transactions since 2008-09 around  35% lower than the previous four years.”
“However, transfer duty is expected to improve over coming years in line with a forecast recovery in housing demand.”
In the budget, Porter concedes the estimate for actual income from stamp duty may change.
“Property transactions are highly susceptible to fluctuations in market sentiment and are therefore highly volatile and difficult to forecast.”
“The current transfer duty forecasts are balanced against the risk of continued weakness in the housing market and the risk that market sentiment could quickly change and cause  a faster than expected recovery in transaction volumes,” he says.
In the budget he says property transaction volumes are expected to improve along with a modest increase in residential property prices.
“Transaction volumes are expected to move toward a long-run trend over the forecast period, while residential property prices are forecast to increase at a modest rate broadly in line with the expected growth in incomes (of around 5-6% per annum).”
Porter expects in four years, transfer duties will be at lower levels than before the global financial crisis.
Despite the fall in revenue Porter has kept stamp duty concessions for first-home buyers. The concession waives duty on properties under $500,000.
REIWA president David Airey says the concession is needed to support the housing market. He says first-time buyers are one of the few groups active in the current market.
“I’m pleased to see the government has retained its stamp duty concession for first-home buyers, because this has been successful in maintaining first-home buyers at around 25 to 27% of the market over the past 12 months,” he says.
“The importance of the stamp duty concession for first home-buyers in the modest market recovery currently being experienced cannot be underestimated.
“REIWA analysis of the budget papers indicates that, as usual, property buyers will carry much of the burden of the shortfall in GST revenues as the government, by not indexing thresholds, reaps the windfall gain from projected price and sales volume increases.”
He says he is disappointed there are no stamp duty concessions for older citizens looking to downsize their housing, saying it’s a lost opportunity to free up housing capacity at a time when supply is tight.
He says the Perth rental market is under enormous pressure caused by a growing population, low vacancy rates and increasing rents.
The government has committed $130 million towards construction of social housing dwellings over the next two years.
Western Australian Council of Social Services CEO Irina Cattalini welcomed the construction investment but says it falls short of demand.
"While the housing initiatives are welcome, the overall investment in social housing will not do enough to reduce the time people are stuck on the social housing waiting list – which has grown from 113 weeks last financial year and will continue to increase to 134 weeks in 2012-13," Cattalini told Perth Now.
 
 
 
 
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Flat WA property market could cost state government $836 million in lost stamp duty: Treasurer

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ACT had the biggest percentage increase of stock on market in Australia in the past year, according to RP Data, closely followed by Victoria. The number of properties for sale increased 37%, from 1,722 to 2,364. In Victoria, the number of listings increased 35% from 53,110 to 71,747.
The total number of properties for sale in Queensland has dropped slightly over the year, but it remains the state with the most homes for sale in Australia.
Queensland had a total of 84,761 properties up for sale in the month ending May 13, down from 85,162 for the same time last year.
The total number of properties for sale has increased around Australia, but the number of new listings has dropped from the same period last year in every state and territory.
The number of new listings in Australia for the month ending May 13 has dropped from 58,015 to 46,767.
While Queensland has the most available stock, New South Wales just edges it out for total property value, worth an estimated $50.5 billion.
“The number of newly advertised properties for sale rose last week however, the number of new listings remains much lower than at the same time last year (19.4% lower nationally and 15% lower across the combined capital cities),” RP Data’s Property Pulse report says.
“The slowdown in new listing numbers has seen the total number of home available for sale nationally reduce from a high of 325,446 in the first week of December to 309,074 at the end of last week. That’s 5% lower than the December 2011 peak nationally and 8.7% lower across the combined capitals.
“Across individual capital cities, the total number of properties advertised for sale is lower than at the same time last year in Brisbane (-0.9%), Perth (-7%) and Darwin (-18.7%).”
“Across all other capital cities, total listings are higher than at the same time last year with the largest increases recorded in Canberra (42.2%) and Melbourne (35.2%),” says RP Data.
 
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Property stock on market jumps 35% in Victoria in past year: RP Data

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Properties have been discounted by as much as 39% in SQM Research's latest list of the most discounted properties in Australia.
The list, usually dominated by Queensland, has properties from South Australia, NSW, WA and Tasmania.
The top discounted property was in Campania, Tasmania, with its current advertised price down $130,000 from the original asking price of $200,000.
Meanwhile, longstanding leader of the pack, 92 Beelong Street in Macleay Island, Queensland, has sold after 706 days. It eventually sold for $340,000 – 42% less than the original asking price of $590,000, which is what the vendor paid for the property in December 2007.
"This home was sold at a loss of at least $250,000, not to mention any interest accrued on the original mortgage! Indeed, the property itself is not situated in a particularly sought after location (Macleay Island) but a loss of this proportion is still notable and possibly devastating," says SQM managing director Louis Christopher.
"The original online advertisement mentioned that the mortgagee was in possession for this property, in which case the desperation to sell regardless of the fetching price is perhaps better understood."
 <h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">1</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008421301" target="_blank">27 Reeve Street, Campania, Tasmania, 7026</a>
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 694
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106542744" target="_blank">11 Pyrites Road, Brukunga, SA, 5252</a>
On the market since: May 23, 2010
Initial asking price: $253,000
Current asking price: $155,000
Reduction: 39%
Days on market: 713
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">3</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008766488" target="_blank">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
On the market since: January 16, 2011
Initial asking price: $2,950,000
Current asking price: $1,850,000
Reduction: 37%
Days on market: 476
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228" target="_blank">15 Gretel, Two Rocks, WA, 6037</a>
On the market since: December 26, 2009
Initial asking price: $1,100,000
Current asking price: $699,000
Reduction: 36%
Days on market: 861
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007736307&gt;" target="_blank">26a Paling Street, Thornleigh, NSW, 2120</a> (pictured)
On the market since: May 16, 2009
Initial asking price: $1,100,000
Current asking price: $700,000
Reduction: 36%
Days on market: 1,085
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761" target="_blank">1302 Birkdale Pl, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,418
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106358770" target="_blank">27 Light Avenue, Munno Para West, SA, 5115</a>
On the market since: February 27, 2010
Initial asking price: $482,687
Current asking price: $319,000
Reduction: 34%
Days on market: 798
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107430484" target="_blank">319 West Coast Drive, Trigg, WA, 6029</a>
On the market since: May 28, 2011
Initial asking price: $4,500,000
Current asking price: $2,990,000
Reduction: 34%
Days on market: 343
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006781491" target="_blank">22 Beach St, White Beach, Tasmania, 7184</a>
On the market since: July 1, 2008
Initial asking price: $250,000
Current asking price: $170,000
Reduction: 32%
Days on market: 1,407
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106289694" target="_blank">309 Scarborough Bch Rd, Woodlands, WA, 6018</a>
On the market since: February 7, 2010
Initial asking price: $1.1 million
Current asking price: $750,000
Reduction: 32%
Days on market: 818
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Queensland not featured on SQM most discounted list as Macleay Island property sells at last

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Sunland Group Limited has agreed to spend $30 million on a 33.4-hectare block of land in outer-Melbourne suburb Point Cook.

The site is due to be developed into 470 allotments over the next five to seven years.

The acquisition is the latest in a string of land purchases for the company, which spent $19 million on a 7.2-hectare block of land in Victoria’s Springvale and $13 million on a site in Queensland’s Mariner’s Cove.

Managing director of Sunland Sahba Abedian told Property Observer the acquisition is part of itsongoing presence on the subdivision market.

“We’ve had a presence in Melbourne for 12 years. Our operation has extended from urban developments to residential housing and high-rise residential as part of this organic replenishment of our portfolio and having a continued presence in the urban development sector.”

“We felt this opportunity was very befitting and accordingly we think this development at Point Cook will ensure we have an ongoing presence in the subdivision market.”

Point Cook is 25 kilometres south-west of Melbourne and has been the subject of major development over the last 15 years.

Abedian says the area has been the subject of much development and acknowledges state and local government will have to spend time upgrading infrastructure.

“The suburb has been one of the fastest-growing municipalities consistently over the last five years. There’s no doubt it’s experiencing some infrastructure bottlenecks. 

"But having that said that, it is still regarded as one of the premier residential enclaves in terms of growth. Over time, council will no doubt address the bottlenecks that have come as a consequence of this fast pace of growth.”

Abedian says the parcel of land is the last developable block of land in the area.

“The reality of this acquisition, when you look at Point Cook strategically, there are not that many large-scale parcels available. This represents one of the last strategic holdings in that corridor.”

“The timing of our delivery project coming online is within the next 12 to 18 months. We’re confident the conditions will continue to bode well even though nationally market conditions are somewhat subdued.”

Sunland has been aggressively buying back its own shares in a bid to push to the value up for shareholders. Fairfax Media reports the company's share has been traded about half stated asset backing since the global financial crisis struck in 2008.

The buyback was put on hold after a poor December result, but the company has since restarted the buyback.

Abedian says the company is on track to reduce the number of shares to 150 million.

“We’ll be maintaining a conservative balance sheet.”
The block of land is at 333 Point Cook Road.
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Sunland buys Point Cook site for $30 million

Sunshine Coast land values down 5% last year, with Dicky Beach beating out Battery Hill as worst performer

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An Australian draftsperson and building product developer has teamed up with an eco-architect to produce an iPhone app to gauge the green credentials of properties.
<a target="_blank" href="https://ecoeasy.com/">Eco Easy Home</a> was quietly released in early March with a feature set to rival a full assessment by a sustainability consultant.
The app uses a variety of assessing factors to allow users to work out how green a house is.
One feature developer John Civijovski is particularly proud of is the alignment tool. The feature lets users work out just how north-facing a property is as it tracks out the future movements of the sun. The information gleaned from this tool lets users calculate the solar gain of a particular property.
“Being able to locate homes with a northern orientation is totally new. A tool like that just doesn’t exist,” Civijovski says.
“You can move the sliding guides and pinpoint homes quite neatly.”
The rating system of the app asks the user a series of questions to let the app assign a value score to a house.
Civijovski says he initially wanted to help people find the thermal strengths and weaknesses of a house, particularly for those don’t know where to start.
“You don’t have to know anything about energy efficiency.”
“It’s a complex area, but we have broken it down into a simple interface that anyone can use. If you use it regularly, you will become familiar with jargon like orientation, insulation and thermal mass, and eventually become an energy-efficiency expert.”
The app intersperses information on energy efficiency with an aim to educate users as they use the tool.
“If you’re looking at buying a home and you’ve narrowed it down to two or three you can make comparisons using Eco Easy Home about which has better opportunities. One might be better in winter while that’s better in summer.”
Civijovski worked with architect Gareth Cole, an architect and public speaker on sustainable design. He has worked as an architect for 30 years and runs The Ecologie Group Architects, which specialises in passive solar design, solar systems, energy efficiency and sustainability.
For more <a target="_blank" href="/news">on online tools for property investors, sign up for our free webinar this Thursday, May 17 at 12.30pm.</a>
 
 
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How green is my home? Eco Easy Home app has the answer 

<html><body>
Queensland Valuer-General Neil Bray says the Gold Coast City Council area’s land values have fallen by 8% overall since the last valuation in 2011.
Residential values continued to fall in most localities within the local government area, Bray says.
“Generally land values in the central coastal areas of Surfers Paradise and Broadbeach have declined in value by almost 50% since the 2008 peak,” he says.
Decisions on future planned construction projects along with weakening retail, industrial and tourism markets have had negative flow-on effects in spending and growth within the wider community, Bray notes.
Of the 73 localities in the Gold Coast City region, <a href="https://www.propertyobserver.com.au/queensland/the-43-worst-performing-gold-coast-localities-in-2011/2012032954070">43 went down in value</a>, 28 had no change in value and <a href="https://www.propertyobserver.com.au/queensland/the-only-two-gold-coast-suburbs-where-values-have-gone-up-in-2011/2012032954069">two increased in value</a>.
The area had an overall decrease in median values of 5.1%, from $247,500 to $235,000.
<table border="0" cellspacing="0" cellpadding="0" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="111">
Residential localities
</td>
<td valign="top" width="133">
Previous median value as at 1/10/2010 ($)
</td>
<td valign="top" width="139">
New median value as at 1/10/2011 ($)
</td>
<td valign="top" width="116">
Change in median value (%)
</td>
</tr>
<tr>
<td valign="top" width="111">
Advancetown
</td>
<td valign="top" width="133">
188,500
</td>
<td valign="top" width="139">
188,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Bonogin
</td>
<td valign="top" width="133">
242,500
</td>
<td valign="top" width="139">
242,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Broadbeach
</td>
<td valign="top" width="133">
590,000
</td>
<td valign="top" width="139">
590,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Burleigh Waters
</td>
<td valign="top" width="133">
285,000
</td>
<td valign="top" width="139">
285,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Coombabah
</td>
<td valign="top" width="133">
205,000
</td>
<td valign="top" width="139">
205,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Coomera
</td>
<td valign="top" width="133">
215,000
</td>
<td valign="top" width="139">
215,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Gaven
</td>
<td valign="top" width="133">
195,000
</td>
<td valign="top" width="139">
195,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Gilston
</td>
<td valign="top" width="133">
195,000
</td>
<td valign="top" width="139">
195,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Highland Park
</td>
<td valign="top" width="133">
212,500
</td>
<td valign="top" width="139">
212,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Hope Island
</td>
<td valign="top" width="133">
265,000
</td>
<td valign="top" width="139">
265,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Kingsholme
</td>
<td valign="top" width="133">
64,000
</td>
<td valign="top" width="139">
64,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Maudsland
</td>
<td valign="top" width="133">
185,000
</td>
<td valign="top" width="139">
185,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Mermaid Beach
</td>
<td valign="top" width="133">
680,000
</td>
<td valign="top" width="139">
680,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Mermaid Waters
</td>
<td valign="top" width="133">
330,000
</td>
<td valign="top" width="139">
330,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Merrimac
</td>
<td valign="top" width="133">
197,500
</td>
<td valign="top" width="139">
197,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Mudgeeraba
</td>
<td valign="top" width="133">
230,000
</td>
<td valign="top" width="139">
230,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Nerang
</td>
<td valign="top" width="133">
197,500
</td>
<td valign="top" width="139">
197,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Oxenford
</td>
<td valign="top" width="133">
205,000
</td>
<td valign="top" width="139">
205,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Pacific Pines
</td>
<td valign="top" width="133">
197,500
</td>
<td valign="top" width="139">
197,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Pimpama
</td>
<td valign="top" width="133">
187,500
</td>
<td valign="top" width="139">
187,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Reedy Creek
</td>
<td valign="top" width="133">
242,500
</td>
<td valign="top" width="139">
242,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
South Stradbroke
</td>
<td valign="top" width="133">
405,000
</td>
<td valign="top" width="139">
405,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Tallai
</td>
<td valign="top" width="133">
237,500
</td>
<td valign="top" width="139">
237,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Upper Coomera
</td>
<td valign="top" width="133">
185,000
</td>
<td valign="top" width="139">
185,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Varsity Lakes
</td>
<td valign="top" width="133">
212,500
</td>
<td valign="top" width="139">
212,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Willow Vale
</td>
<td valign="top" width="133">
395,000
</td>
<td valign="top" width="139">
395,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Wongawallan
</td>
<td valign="top" width="133">
103,500
</td>
<td valign="top" width="139">
103,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Worongary
</td>
<td valign="top" width="133">
195,000
</td>
<td valign="top" width="139">
195,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
</tbody></table>
</body></html>

Twenty-eight localities on the Gold Coast with values going nowhere

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The largest privately owned property management company in Queensland, Rental Express Group, is set to buy RUN Property and Agent Plus for $65.4 million, according to an ASX release.
RUN Property manages around $10 billion in properties in Queensland, NSW and Victoria with administration and accounting software Agent Plus as a fully owned subsidiary.
The new entity would manage 20,000 properties in NSW, Victoria, Queenland and WA if the conditional deal proceeds.
Part of the proceeds of the sale will be used to pay off RUN’s $20.4 million bank debt, which was refinanced from NAB to Macquarie Bank earlier this year.
The deal would require Rental Express to obtain finance and RUN Property shareholders passing a resolution authorising the sale.
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Rental Express Group set to buy RUN Property for $65.4 million

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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;

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;

Alistair Walsh

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