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The recovery in the US property market is picking up, writes Stephen "The Kouk" Koukoulas in his latest tweet.
Sales of existing homes picked up in October, with sales up 11% on the same time last year, according to Bloomberg. The number of homes on the market has fallen to its lowest level in a decade. 
Koukoulas also notes that the US stock market is up after four weeks of declines.
<a target="_blank" href="https://twitter.com/TheKouk"><img src="/images/stories/2012/11/kouktweet5.jpg"></a>
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US housing market recovery picking up amid stock market gains: Tweet of the day

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Hotels and resorts operate in a very competitive tourist accommodation market, with a variety of accommodation styles and quality available at a range of prices points to suit particular needs. Over the past five years, the industry has contended with weak global economic conditions and increased competition from the serviced apartments industry.

The hotels and resorts industry suffered large revenue declines in 2008-09 and 2009-10, when the global financial crisis wrought havoc on consumer sentiment and business confidence. For this reason, industry revenue is estimated to decline by an annualised 0.4% over the five years through 2012-13, to total $5.77 billion.
The hotels and resorts industry has responded well in the years since the financial crisis and has posted revenue gains in each of the past two years. Many hotel and resort operators reacted to the adverse economic conditions by cutting room rates and offering additional perks and services as part of packaged deals. While average takings per room remain low by historic standards, the industry's occupancy rate has reached a historic high of 72%. On the back of the high occupancy rate, particularly in city markets, revenue is expected to increase by 1.6% in 2012-13.
In 2012-13, the industry is estimated to employ 66,800 people, down substantially over the past five years. The fall in employment numbers has been a result of hotel and resort operators seeking to cut costs in response to the global financial crisis. More employees have moved into part-time or casual positions as operators have sought to cut fixed costs. In the five years though 2012-13, the industry has slashed $36.1 million in wage costs.
<img src="/images/stories/2012/11/ibisnov8.jpg">
Domestic tourism has been weak over the past five years as Australians have taken advantage of cheap flights to Asia and a favourable exchange rate. Australians are spending 8.6% less on domestic holidays in 2012 than they did 10 years ago. However, the tourism slack has been picked up by international arrivals, especially from Asian countries like China. This has been the main contributor to the industry's growth over the past decade.
<img src="/images/stories/2012/11/ibisnov81.jpg">
The hotels and resorts industry is well positioned to take advantage of the tourism market's paradigm shift towards more Asian travellers. Industry revenue is expected to increase by an annualised 1.8% over the next five years, to total $6.31 billion in 2017-18.
 
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<img src="/images/stories/2012/11/ibisnov82.jpg">
Hotels and resorts in the industry can be segmented via star ratings, which are dependent on the quality of rooms, facilities and services. These star ratings are assessed by the national AAA organisation through the various state motoring organisations, such as NRMA, RACV, RACQ, RAASA, RACWA and RACT. Classification depends on the standard of both facilities and services provided by hotels and resorts.
Overall, the majority of the industry's rooms are in the high-end range of four stars or greater. Four-star and five-star rooms are estimated to account for 56.9% of industry revenue and make up 79% of total hotel rooms in 2012-13. The largest segment in the industry is four-star rooms, which are estimated to account for 34.6% of the market, followed by five-star rooms with 22.3% of the market.
Most hotel operators derive over 30% of their revenue from sources other than accommodation, mainly from the sale of meals and beverages at their restaurants. Some of Australia's major hotels are attached to entertainment complexes that aim to provide guests with the complete on-site experience – for these types of hotels, room tariff revenue almost becomes secondary to non-room revenue.
Other revenue streams include the sale of in-room food and beverages, management fees and charges, interest and the hiring out of function rooms for conventions and meetings. Total estimated revenue derived from conventions and meetings (which includes meals and liquor provided at these receptions) is estimated to make up 9% of total revenue.
<h3>Major players</h3>
<ul>
<li>AAPC Limited (27.6%)</li>
<li>IHG Hotels Management (Australia) Pty Limited (9.6%)</li>
<li>Amalgamated Holdings Limited (9.2%)</li>
<li>Hilton International Australia Pty Limited (4.0%).</li>
</ul>
<h3>Industry outlook</h3>
The industry is expected to perform modestly over the next five years, constrained by a shaky global and domestic economic environment. While international tourist numbers are expected to increase, the European debt crisis, British recession and a slowdown in parts of Asia will continue to plague Australia's main tourism markets. To some extent, domestic tourism will remain at the mercy of exchange rate movements; the Australian dollar – which has been the nail in the industry's coffin over the past two years – is often unpredictable, but is expected to remain at high levels for at least the short term. IBISWorld forecasts that while revenue volatility will continue in the short term, revenue will increase by an annualised 1.8% over the next five years, to total $6.31 billion in 2017-18.
Karen Dobie is general manager Australia of <a target="_blank" href="https://www.ibisworld.com.au/">IBISWorld</a>
To purchase IBISWorld’s full, 37-page report on Australia’s Hotel and Resort Industry, <a rel="nofollow" href="https://www.ibisworld.com.au/industry/default.aspx?indid=1811">click here</a>. 
This story originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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Australian hotels and resorts to benefit from increased tourist numbers

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There were 770 sales in Perth this week, up 15% from 670 the same week last year. The most actively traded suburb was East Perth, with 23 sales, followed by Scarborough, with 19. 
 
<img src="/images/stories/2012/11/reiwanov7.gif">
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Perth sales up 15% on same week last year: REIWA

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54 Nasmyth Street, Young, NSW, 2594 <img src="/images/stories/2012/11/naysmith.jpg" width="470">
This two-bedroom cottage in the NSW town of Young was recently rented for $150 per week and is currently vacant. LJ Hooker agent Christian Rowan says it would be a great investment opportunity. It is on a 758-square-metre block with a garage and is within walking distance of schools.
Rowan is marketing the property<a target="_blank" href="https://www.buxton.com.au/"> </a>with price hopes of $100,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 7.8% at a rent of $150 per week,  well above the gross rental yield for Young houses of 5.6%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $2,000 and over five years to be $4,000.
The median house price in Young rose 6.5% in the past year and 13.6% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Young, see the RP Data suburb page.</a>
The property will go to auction Saturday, November 10 at 10am. 
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Friday form guide: Yields of up to 7.8% in Young

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<a target="_blank" href="/news"><img src="/images/stories/2012/10/10mplus.gif"></a>
The price hopes <a target="_blank" href="/news">Stockland Property Group's departing managing director Matthew Quinn</a> has for his McMahons Point home. Quinn announced in July that he would leave Stockland after 12 years.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500"><img src="/images/stories/2012/10/75percent.gif"></a>
The approximate percentage of Melbourne properties surveyed by Property Observer in October <a target="_blank" href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500">that sold for above their quoted pre-auction price guide</a>. On average, those 55 properties sold for 8.7% above the upper bracket of the price range indicated by the agents.
 
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<a target="_blank" href="/news"><img src="/images/stories/2012/10/12point5mplus.gif"></a>
The <a target="_blank" href="/news">price hopes Dirty Deeds filmmaker Deborah Balderstone</a> and her husband, John, an investment manager, have for their Elizabeth Bay villa. Hidden from the street by a high wall within gardens designed by William Dangar, it's on Billyard Avenue non-waterfront block, although it comes with shared jetty access.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/higher-discounts-required-in-sydney-and-melbourne-to-achive-spring-sales-apm/2012103057498"><img src="/images/stories/2012/10/9point1percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/higher-discounts-required-in-sydney-and-melbourne-to-achive-spring-sales-apm/2012103057498">average amount of discounting required to sell properties in Hobart</a>, according to APM. This was the highest required discounting of all state capitals.
 
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<a target="_blank" href="/news"><img src="/images/stories/2012/10/50percent.gif"></a>
The <a target="_blank" href="/news">likelihood that the RBA will cut the cash rate on Melbourne Cup Day</a>, according to Commonwealth Bank chief economist Michael Blythe. Economists had thought it was a sure bet until a speech this week by RBA deputy governor Philip Lowe.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/developments/dwelling-approvals-rise-78-in-september-and-dampen-melbourne-cup-cash-rate-cut-prospects/2012103157544"><img src="/images/stories/2012/10/7point8percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/developments/dwelling-approvals-rise-78-in-september-and-dampen-melbourne-cup-cash-rate-cut-prospects/2012103157544">rise in dwelling approvals in September</a>. This was the second consecutive month they have risen following a 6.4% rise in August. Dwelling approvals fell 21.2% in July.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fairfax-media-director-michael-anderson-sells-hopewood-house-in-southern-highlands/2012103157501"><img src="/images/stories/2012/10/5point25m.gif"></a>
The approximate price <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fairfax-media-director-michael-anderson-sells-hopewood-house-in-southern-highlands/2012103157501">Fairfax Media director Michael Anderson</a> and his wife, Susie, secured for Hopewood House, their historic matrimonial Southern Highlands mansion.
 
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The 7 must-know numbers of the week, starting with Stockland boss Matthew Quinn's McMahons Point price hopes

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<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/7a-79-atherton-road-oakleigh/Property-Details-buy-residential-4593451">7a/79 Atherton Road, Oakleigh, VIC, 3166</a>
<img src="/images/stories/2012/10/atherton.jpg" width="470">
Within easy walking distance of Oakleigh train station, shops and cafes, this two-bedroom apartment is currently leased at $380 per week on a month-to-month lease. Listing agent Nick Blow of Hodges says this is about at market rent for the unit. It has reverse-cycle air-conditioning as well as a basement car park and storage.
Blow <a href="https://www.barryplant.com.au/property.cfm?propertyID=2175147&amp;realestate=1_Balmoral_Way_PAKENHAM_VIC_3810&amp;menuItemID=41771" target="_blank">is marketing the property</a><a target="_blank" href="https://www.buxton.com.au/"> </a>with price hopes of $350,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.7% at a rent of $350 per week,  well above the gross rental yield for Oakleigh units of 4%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $9,000 and over five years to be $31,000.
The median unit price in Oakleigh rose 16.8% in the past year and 29.4% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Oakleigh, see the RP Data suburb page.</a>
The property will be open for inspection on Saturday, October 27 at noon and will go to auction on Saturday, November 3 at noon.
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Friday form guide: Yields of up to 5.7% in Oakleigh

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<img src="/images/stories/2012/10/20point8percent.gif">
The amount by which unit rents have increased in Perth in the 12 months to September, according to Residex. The median unit asking rent is $435, and the median yield is 5.3%.
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<img src="/images/stories/2012/10/20percent.gif">
The amount by which unit rents have increased in Sydney in the 12 months to September, according to Residex. The median unit asking rent is $540, and the median yield is 5.6%.
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<img src="/images/stories/2012/10/12point5percent.gif">
The amount by which unit rents have increased in Melbourne in the 12 months to September, according to Residex. The median unit asking rent is $405, and the median yield is 4.9%.
 
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<img src="/images/stories/2012/10/12point2percent.gif">
The amount by which unit rents have increased in Darwin in the 12 months to September, according to Residex. The median unit asking rent is $505, and the median yield is 6.4%.
 
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<img src="/images/stories/2012/10/5point8percent.gif">
The amount by which unit rents have increased in ACT in the 12 months to September, according to Residex. The median unit asking rent is $460, and the median yield is 5.8%.
 
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<img src="/images/stories/2012/10/4point2percent.gif">
The amount by which unit rents have increased in Brisbane in the 12 months to September, according to Residex. The median unit asking rent is $370, and the median yield is 5.5%.
 
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<img src="/images/stories/2012/10/3point6percent.gif">
The amount by which unit rents have increased in Hobart in the 12 months to September, according to Residex. The median unit asking rent is $285, and the median yield is 5.9%.
 
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<img src="/images/stories/2012/10/3point5percent.gif">
The amount by which unit rents have increased in Adelaide in the 12 months to September, according to Residex. The median unit asking rent is $295, and the median yield is 5.1%.
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<img src="/images/stories/2012/10/13point9percet.gif">
The amount by which unit rents have increased across Australia in the 12 months to September, according to Residex. The median unit asking rent is $410, and the median yield is 5.4%.
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Double-digit unit rental growth in major capitals, bar Brisbane, in past year: Residex

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Western Australia's property market is not necessarily benefiting fully from the resources boom, according to SQM Research director Louis Christopher, as temporary migrants to the state tend to rent rather than buy. 
Noting that three properties on SQM Research's top 10 most discounted properties list are in WA, Christopher says increased migration and increased jobs do not translate necessarily into property sales. They are a house, a flat and a residential development site.
"Because employment opportunities are in may cases short term, those recruited into such positions would rather rent that buy homes in these localities as they do not intend to reside there for the long term," he says.
"This could potentially explain why there have been ongoing substantially discounted homes hanging around on the market in Perth and other regions within WA, as making a permanent investment in property is not necessarily as popular as the demand for temporary accommodation."
 
1 <a href="https://www.realestate.com.au/property-house-qld-closeburn-107603313" target="_blank">34 Seraya Court, Closeburn, Queensland 4520</a>
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Forresters-Beach/?adid=2008587390"></a>Days on the market: 434 Initial asking price: $145 million Current asking price: $798,000 Reduction: 45%
2
<a target="_blank" href="https://www.realestate.com.au/property-other-tas-taranna-106879142">5756 Arthur Highway, Taranna, Tasmania, 7180</a>
<a target="_blank" href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420"></a>Days on the market: 741 Initial asking price: $499,000 Current asking price: $299,000 Reduction: 40%
3
<a target="_blank" href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420">19 Lychee Drive, Caboolture, Queensland, 4510</a>
Days on the market: 881 Initial asking price: $949,000 Current asking price: $586,000 Reduction: 38%
4
<a target="_parent" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
Days on the market: 643 Initial asking price: $2.95 million Current asking price: $1.85 million Reduction: 37%
5
<a href="https://www.realestate.com.au/property-unit-qld-bellara-108744741" target="_blank">4/5 Thornely Close, Bellara, Queensland, 4507</a>
Days on the market: 336 Initial asking price: $599,000 Current asking price: $380,000 Reduction: 37%
6
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228">15 Gretel Two Rocks, WA, 6037</a>
Days on the market: 1,029 Initial asking price: $1.1 million Current asking price: $690,000 Reduction: 36%
7
<a target="_blank" href="https://www.realestate.com.au/property-house-tas-white+beach-106479093">588 White Beach Road, White Beach, Tasmania, 7184</a>
Days on the market: 881 Initial asking price: $780,000 Current asking price: $499,000 Reduction: 36%
8
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Townhouse/NSW/Magenta/?adid=2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
Days on the market: 1,586 Initial asking price: $700,000 Current asking price: $450,000 Reduction: 36%
 
9
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-armadale-105464925">99 Lowanna Way, Armadale, WA, 6112</a>
Days on the market: 1,298 Initial asking price: $1.85 million Current asking price: $1.2 million Reduction: 35%
10
<a href="https://www.realestate.com.au/property-apartment-wa-scarborough-105849569" target="_blank">15/2 Brighton Road, Scarborough, WA, 6019</a>
Days on market: 1,199 Initial asking price: $1.2 million Current asking price: $790,000 Reduction: 34%
 
SQM Research also offers a list of the <a target="_blank" href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research">Top 100 Biggest Bargains in Australia </a>for sale.
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Resources boom helping rental market, but not property sales, in WA: SQM Research

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A five-bedroom Killara house that sold under the hammer for $4,225,000 was this week's top sale, according to RP Data. 
The house, which was sold by McConnell Bourn Lindfield agent Roslynne Rogers, in conjunction with McGrath agent Philip Waller, was originally put on the market in December last  year with $7.5 million hopes through Century 21. When it had not sold by May of this year with reduced price hopes of $6 million plus, the agents took over the listing with a price guide of $5.5 million plus, according to RP Data. By early July of this year the price guide had been taken off the listing.
Rogers says there were two registered bidders on Saturday, but only one willing to put up a hand. She says the vendor is happy with the sale price achieved.
The 2,700-square-metre property includes a full-sized tennis court, three-car garage and swimming pool. It last sold for $1.75  million in 1988.
1. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/44_northcote_avenue_killara_nsw_2071/3329601" target="_blank">44 Northcote Avenue, Killara, NSW, 2071</a>, five-bedroom house, sold at auction on October 27 by McConnell Bourn Lindfield for $4.225 million
2. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/24_dean_street_kew_vic_3101/14558866" target="_blank">24 Dean Street, Kew, VIC, 3101</a>, four-bedroom house, sold at auction on October 27 by Marshall White Real Estate for $3.92 million
3. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/49_the_boulevarde_cammeray_nsw_2062/1695176" target="_blank">49 The Boulevarde, Cammeray, NSW, 2062</a>, three-bedroom house, sold at auction on October 25 by Ray White Lower North Shore for $3.75 million
4. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/6_the_terrace_abbotsford_nsw_2046/7928600" target="_blank">6 The Terrace, Abbotsford, NSW, 2046</a>, four-bedroom house, sold at auction on October 27 by McGrath Estate Agents for $3.6 million
5. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/77_st_vincent_street_albert_park_vic_3206/9183831" target="_blank">77 St Vincent Street, Albert Park, VIC, 3206</a>, four-bedroom house, sold at auction on October 28 by Cayzer Real Estate Albert Park for $3.325 million
6. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/23_mermaid_avenue_maroubra_nsw_2035/4046325" target="_blank">23 Mermaid Avenue, Maroubra, NSW, 2035</a>, four-bedroom house, sold at auction on October 27 by Black Lifestyle Property for $2.725 million
7.  <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/284_domain_road_south_yarra_vic_3141/13136177" target="_blank">284 Domain Road, South Yarra, VIC, 3141</a>, four-bedroom house, sold at auction on October 27 by Bennison Mackinnon Real Estate Armadale for $2.65 million
8. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/6_coastview_place_freshwater_nsw_2096/15786147" target="_blank">6 Coastview Place, Freshwater, NSW, 2096</a>, five-bedroom house, sold at auction on October 25 by L J Hooker Seaforth for $2.5 million
9. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/124_rowell_avenue_camberwell_vic_3124/10227076" target="_blank">124 Rowell Avenue, Camberwell, VIC, 3124</a>, five-bedroom house, sold at auction on October 27 by Jellis Craig Real Estate Hawthorn for $2.47 million
10. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/145_seaforth_crescent_seaforth_nsw_2092/6144387" target="_blank">145 Seaforth Crescent, Seaforth, NSW, 2092</a>, four-bedroom house, sold on October 24 by Richardson &amp; Wrench Seaforth for $2.4 million
 
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Five-bedroom Killara home top sale of the week: RP Data

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<img src="/images/stories/2012/10/21point5percent.gif">
The amount that house rents have increased in Perth in the 12 months to September, according to Residex. The median weekly asking rent for houses is $480 and the median yield is 5%.
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<img src="/images/stories/2012/10/11point8percent.gif">
The amount that house rents have increased in Melbourne in the 12 months to September, according to Residex. The median weekly asking rent for houses is $425 and the median yield is 4%.
 
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<img src="/images/stories/2012/10/10point7percent.gif">
The amount that house rents have increased in Sydney in the 12 months to September, according to Residex. The median weekly asking rent for houses is $570 and the median yield is 4.5%.
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<img src="/images/stories/2012/10/10point6percent.gif">
The amount that house rents have increased in Canberra in the 12 months to September, according to Residex. The median weekly asking rent for houses is $520 and the median yield is 5.2%.
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<img src="/images/stories/2012/10/10point5percent.gif">
The amount that house rents have increased in Brisbane in the 12 months to September, according to Residex. The median weekly asking rent for houses is $420 and the median yield is 5.2%.
 
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<img src="/images/stories/2012/10/8point4percent.gif">
The amount that house rents have increased in Darwin in the 12 months to September, according to Residex. The median weekly asking rent for houses is $580 and the median yield is 6%.
 
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<img src="/images/stories/2012/10/7point4percent.gif">
The amount that house rents have increased in Hobart in the 12 months to September, according to Residex. The median weekly asking rent for houses is $365 and the median yield is 5.2%.
 
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<img src="/images/stories/2012/10/4point6percent.gif">
The amount that house rents have increased in Adelaide in the 12 months to September, according to Residex. The median weekly asking rent for houses is $345 and the median yield is 4.7%.
 
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<img src="/images/stories/2012/10/9point3percent.gif">
The amount that house rents have increased across Australia in the 12 months to September, according to Residex. The median weekly asking rent for houses is $420 and the median yield is 5%.
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Perth house rents up 22% in a year: Residex state-by-state analysis

<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;

Cassidy Knowlton

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