<html><body>
Regional areas have outperformed capital cities in the year to March, according to ANZ.
"Despite being lower in annual growth terms, regional house prices have been more stable than capital city house prices, which have seen larger price falls across all major states and territories," notes the Australian Housing Chartbook.
"Across states/territories and regions, house price growth has continued to differ, reflecting varying economic performance across Australian industries.
"NSW regional house prices were the strongest across states and territories in the year to March 2012, with the central inland regions of Orange and Dubbo showing the greatest house price growth," notes the report.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/07/anzjuly91.jpg" rel="shadowbox"><img src="/images/stories/2012/07/anzjuly91thumb.jpg"></a>
 
Source RP Data, Rismark, ANZ
</body></html>

cknowlton-QnEa6ntUYP

Orange leads NSW regional house growth, with Hastings and Richmond-Tweed languishing: ANZ

<html><body>
The Melbourne and Sydney properties features in auction tipping competition Property Tycoon sold under the hammer this weekend, but only just.
For those who want to have a harmless punt, there's now a tipping website, <a style="font-size: 14px; text-align: left;" rel="nofollow" href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
<img src="/images/stories/2012/07/youngman.jpg">
The auction at 4 Youngman Street, Preston (pictured above), was attended by around 50 people but only three declared their intention to call the property home.
With the exception of the successful bidder, who was very quick to respond to any challenger bids, it was tough for the auctioneer to drag out bids from the other punters.
The auction stalled at $630,000 when he referred the bid to the owner but was instructed to go out and get more money. Bidding commenced again before stopping at $653,000 and more instructions were sought. On this occasion the owner gave him the all clear to announce the property on the market. Unfortunately for the owner this did not entice any more bidding, and the property was knocked down.
<img src="/images/stories/2012/07/gilpin.jpg">
In Sydney the two-storey Victorian terrace at 9 Gilpin Street, Camperdown (pictured above), also just fell across the line, selling for $2,000 above the vendor’s reserve.
Three buyers registered their intention to put their hand up at the auction but when the action started only two were prepared to do so. But it only takes two to make an auction, and happily for the vendor the two buyers passed the $1.05 million reserve before bidding stopped at $1,052,000.
</body></html>

Auction tipping competition properties manage to just get over the line

<html><body>
353 Lakedge Avenue, Berkeley Vale, NSW, 2261
<img src="/images/stories/2012/07/lakedge.jpg">
With lake views, this three-bedroom house has been rented to the same tenant for the past six years. The lease is expired. The current tenants are paying $350 per week in rent, and listing agent Peter Moran of Property Central says market rent for the house would be about $400 per week. The light and airy property is close to schools, shops and a lakeside walking track
Moran <a href="https://www.propertycentral.com.au/index.cfm?pagecall=property&amp;propertyID=2069954" target="_blank">is marketing the property</a> with price hopes of $349,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.2% at its current rent, below the indicative gross rental yield for Berkeley Vale houses of 5.7%, according to RP Data. At $400 per week it would secure an investor a gross rental yield of $6%. 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 $3,000 and over five years to be $7,000.
The median house price in Berkeley Vale fell 5.2% in the past year and rose 3.2% in the past five years, according to RP Data.
The property will be open for inspection Satuday, July 7 at 1.3opm and will go to auction Saturday, July 14 at 2.30pm.
For more information about prices and yields in Berkeley Vale, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
 
<hr class="system-pagebreak">
 
1/32 Roberts Road, Airport West, VIC, 3042
<img src="/images/stories/2012/07/robertsrd.jpg" width="470">
This two-bedroom villa unit is currently rented on a month-to-month lease at $1,040 per month, which listing agent David Gigliotti of Moonee Valley Real Estate says is about market rent for the area. The property is close to shops and transport and has a carport and a rear courtyard.
Gigliotti<a target="_blank" href="https://agents.realestate.com.au/cgi-bin/cs/run.pl?_t=Details&amp;_c=MOQAVO&amp;id=110897343&amp;code=54693313&amp;time=1341556385&amp;f=0&amp;p=4&amp;tot=21&amp;t=res"> is marketing the property</a> with price hopes of $260,000 plus, and if it sells for $260,000 that would secure an investor a gross rental yield of 4.8%, above the indicative gross rental yield of 4.1% for Airport West units, 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.
The median unit price in Airport West  fell 5.1% in the past year, according to RP Data.
<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 $4,000 and over five years to be $10,000.
The property will be open for inspection Saturday, July 7 at 10.45am and will go to auction Saturday, August 4 at 11am.
For more about prices and yields in Airport West, see the RP Data suburb page.
</body></html>

Friday form guide: Yields of up to 6% in Berkeley Vale

<html><body>
There were 1,059 residential sales in Perth this week, with 22 of them in East Perth.
<img src="/images/stories/2012/07/reiwajuly5.jpg">
</body></html>

East Perth WA's top-selling residential suburb this week: REIWA

<html><body>
Dim the lights, don the snuggie and pass the chocolate; Downton Abbey is back.
Amid all the mooning over Matthew and Mary, viewers may not have noticed that Downton Abbey is actually about property law. Like Jane Austen’s Pride and Prejudice, the central dilemma of the series is the existence of a <a target="_blank" href="https://legal-dictionary.thefreedictionary.com/Fee+Tail">fee tail</a>.
<img src="/images/stories/2012/07/downton1.jpg">
The fee tail stipulates that Grantham Estate cannot be left to beautiful, intelligent, spoilt Mary, but must pass to the nearest male relative, Matthew, a Manchester solicitor. Arguably worse than Austen’s odious Mr Collins in Pride and Prejudice.
Fee tails served an important purpose for a feudal system in which status and wealth were largely determined by accident of birth. Leaving land by will with an entail ensured it would pass down a specific line of descendants and not be dissipated among people unrelated by blood. In the event that a particular line of descendants stopped, the land would revert to the original donor’s family.
Fee tails suited a feudal system of land ownership, but they did not suit emerging or fully fledged capitalist democracies.
First, fee tails were economically stultifying. The interest was effectively only an interest for the life of the current entail holder and thus (invariably) he could not raise money with it, sell it or lease it for longer than his life. Not surprisingly, tenants didn’t like to invest in leases that abruptly ended when their landlord fell off his perch.
Judges and lawyers waged a war of attrition against fee tails for centuries, developing ingenious legal devices to defeat them.
On a micro level, this would give the current holder the economic freedom to deal with his land as he pleased; on a macro level, it forced land out of the hands of families and on to the emerging, free land market. The Dowager Countess engages Matthew to investigate one of these legal devices, although we can be confident that she was not interested in facilitating the onward march of modern capitalism whose values are so antithetical to her own.
Second, fee tails were not just at odds with economic freedom but personal freedom and autonomy; at the risk of understatement, values that had been gaining traction for some time. In the 17th century, the English middle classes had fought hard to free themselves, and most importantly their property, from the arbitrary interference of monarchs. In the 19th century John Stuart Mill wrote eloquently about the necessary limit of government and social power over the individual; so long as people caused no harm to others, they were free to act as they pleased. This concept underpins modern land law (as long as you don’t live in strata, but that’s another story).
As an early 20th century aristocrat, Lord Grantham’s autonomy is not threatened by the government or monarch, but it is by his own ancestors. The fee tail allowed long-dead ancestors to determine land-use and disposition for generations to come. It is an example of “dead-hand control”, the nemesis of modern property law.
There is a delicious irony in the Dowager Countess and Mary’s frustration with Lord Grantham’s inability to freely determine to whom he leaves the land.
Personal freedom is a concept they have learned from the despised middle classes, the very people they are trying to keep the land from. Further, while they would like autonomy and agency for themselves, unlike the politically progressive Lady Sybil, it is not something they want to extend to their own housemaids or chauffeur.
Lord Grantham is at least consistent in his social theory. He does not want his chauffeur to have control of his own life, but neither does he want it for himself. He believes he is the temporary caretaker of his land, not its absolute owner in any modern sense.
The fee tail dilemma is a metaphor for a family trapped between two worlds. The dying world of an aristocracy with its roots in a feudal system and the new world of the capitalist, democratic state. Fittingly, fee tails were abolished in most common law jurisdictions, including the United Kingdom, by the 1920s.
Of course the fee tail dilemma is also a metaphor for the all important dilemma of love. Should Mary marry in the tradition of her ancestors, for money, status and wealth or should she embrace the values of the modern world, exercise her personal freedom and marry for love?
We’ll all have to get back to the sofa and snuggie to find out.
Cathy Sherry is a senior lecturer in the faculty of law at the University of New South Wales.
This article originally appeared on <a target="_blank" href="https://theconversation.edu.au/">TheConversation</a>.
</body></html>

Downton Abbey a melodrama about property law – and frocks, intrigue and Matthew and Mary

<html><body>
The amount of vendor discounting required to secure residential property sales peaked mid- to late last year, a "chill chart" released by Australian Property Monitors shows.
In Sydney, the average discount required in June 2012 was 6.7%, compared with 7.1% in August 2011. However, this is still higher than the average discount Sydney vendors had to offer in June 2010, which was 5.9%.
Melbourne discounting peaked in November 2011 at 8.1%, whereas in June 2012 Melbourne vendors offered discounts of 6.9% off initial price hopes to secure sales. Melbourne's average discount was 5.4% in June 2010. 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/apmjuly6.gif"><img src="/images/stories/2012/07/apmjuly6thumb.gif"></a>
The required discounting for Brisbane property hovered around 10.7% from June to September 2011, with the average discount in June 2012 at 8.4%. 
Adelaide vendors offered an average discount of 8.6% in September 2011, but in June 2012 that had fallen to 7.7%. However, the previous month the average discount required was 8.1% in Adelaide, not at its 2011 peak but still in the "red zone", according to APM. 
Perth vendors offered discounts as deep as 10.6% in August 2011, but June 2012's average discount for the WA capital was 7.3%. This is still up on the 6.4% average discount in June 2010. 
The average discount required in Canberra hit a peak of 6% in June 2011 and was not far off that in June 2012, at 5.5%. However, these "red" percentages for Canberra are still at or below "green" figures for other capitals, as Canberra vendors in general do not have to sweeten the deal as much as those in other cities.
Darwin's average discount for dwelling sales hit 10% in June 2011 and was at a much lower 5.8% in June 2012. This is only marginally up from the 5.4% average discount in June 2010.
Hobart's average discount has crept up in recent months, to be at 10.3% in June 2012. This is not as high as the 10.8% average discount in August 2011, but higher than the 8.4% and 8.5% in some months between August last year and June this year. In June 2010 the average vendor discount in Hobart was 6.6%.  
 
</body></html>

Discounts required to secure residential property sales peaked in mid to late 2011: APM chill chart

<html><body>
The inner-Brisbane suburb to Teneriffe is the most crowded suburb in Queensland, according to RP Data. The suburb, which covers less than a square kilometre, has 4,699 people or a density of 6,518 people per square kilometre.
The office-dominated Brisbane City has the lowest population density in Brisbane, at a roomy 3,965 people per square kilometre.
Mermaid Beach is shown to have the highest population density on the Gold Coast, at 3,743 people per square kilometre, but the figures are based on permanent residents. As other areas of the Gold Coast have more temporary residents and are not reported in the statistics, Mermaid Beach with its single-familyhomes has come out ahead of more high-rise area.
"Mermaid Beach is mainly permanent and full of young children and families, that's why the figures there were the highest," property analyst Kerrie Young told the <a target="_blank" href="https://www.goldcoast.com.au/index">Gold Coast Bulletin.</a>
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/rpjuly25.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly25thum.gif"></a>
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/rpjuly26.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly26thumb.gif"></a>
</body></html>

Teneriffe the most crowded Brisbane suburb, with Mermaid Beach taking the Gold Coast mantle: RP Data

<html><body>
<img src="/images/stories/2012/07/3point7percent.gif">
The median rental yield for houses in Melbourne in June, according to RP Data.
<hr>
<img src="/images/stories/2012/07/4point3percent.gif">
The median rental yield for houses in Adelaide, in June, according to RP Data.
 
<hr>
<img src="/images/stories/2012/07/4point4percent.gif">
The median rental yield for houses in Sydney in June, according to RP Data.
 
<hr>
 
<img src="/images/stories/2012/07/4point4percent.gif">
The median rental yield for houses in Perth in June, according to RP Data.
<hr>
<img src="/images/stories/2012/07/4point6percent.gif">
The median rental yield for houses in Brisbane in June, according to RP Data.
<hr>
 
<img src="/images/stories/2012/07/4point6percent.gif">
The median rental yield for houses in Canberra in June, according to RP Data.
 
<hr>
<img src="/images/stories/2012/07/5point1percent.gif">
The median rental yield for houses in Hobart in June, according to RP Data.
 
<hr>
 
<img src="/images/stories/2012/07/6point1percent.gif">
The median rental yield for houses in Darwin in June, according to RP Data.
</body></html>

Capital city house yield by the numbers, with Melbourne landlords securing the lowest return: RP Data

<html><body>
The Reserve Bank of Australia should keep the official cash rate steady at 3.5%, according to the Centre for Applied Macroeconomic Analysis (CAMA) shadow board, which gives its views ahead of the decision by central bank’s actual board.

The <a href="https://cbe.anu.edu.au/college/schools-centres/cama/pro-pol/" target="_blank">shadow board</a> is made up of <a href="https://cbe.anu.edu.au/college/schools-centres/cama/pro-pol/" target="_blank">influential economists from the private sector and academia</a>.
They were asked to rank their preferred outcomes for the cash rate. Keeping the interest rate unchanged at 3.5% was given a 65% weighting, well above the next most popular, an increase to 3.75%, with a 19% weighting.
Support for a cut in the cash rate of 25 basis points or more received a 16% weighting.
Professors Warwick McKibbin and Jeffrey Sheen were the strongest proponents of higher rates this month, with both indicating a most preferred outcome of 3.75%.
In the longer term, the CAMA shadow board see the risks to rates as equally balanced.
The probability that rates should be higher in 12 months is approximately equal to the probability that rates should be lower.
The comments by individual shadow board members can be obtained from the <a href="https://cbe.anu.edu.au/college/schools-centres/cama/pro-pol/" target="_blank">CAMA website</a> and are reported below.
<img src="/images/stories/2012/07/cama.gif">
Paul Bloxham, Chief Economist (Australia and New Zealand), HSBC Bank Australia Ltd:
“I would recommend the RBA stay on hold this month. Having cut rates by a total of 75 basis points in the past two months, the RBA should now sit still to assess the impact that these rate cuts have had on the economy. Local conditions still look to be fairly solid, with employment growing strongly in May and GDP for Q1 an upside surprise.
“There is a clearly a risk that things have slowed down since then, with business and consumer surveys weakening, and the downside risks from abroad rising. But some part of this risk has already been accounted for in last month’s cut. Rates are now clearly stimulatory. With the AUD no longer appreciating, upside risks to inflation are also building. A discussion about cutting this month could be had around global risks, but I would not recommend a cut this month, having just gone last month.
“There are also risks due to the China slowdown, though these seem much less concerning at this point than those emanating from Europe.”
Saul Eslake, Chief Economist, Bank of America Merrill Lynch Australia
“Noting that last month’s decision to cut rates was "finely balanced” (according to the minutes), and since then we’ve had the second Greek elections (the outcome of which has lowered the near-term probability of a disorderly Greek exit from the euro), and much stronger Q1 GDP and May labour force survey data, I think there’s zero chance that the RBA Board should do anything other than leave rates on hold at this week’s meeting. 
“The six-month view (and my 12-month view) reflects a view that there are (broadly speaking) two plausible monetary policy scenarios – one, with 80% probability, that there isn’t another major global financial shock, and that the Australian economy slows from its Q1 pace (with unemployment riding towards 6%), prompting one (or possibly two) 25 basis points reductions in the cash rate; and a second, with 20% probability, that there is another major global financial shock, prompting a more aggressive easing from the RBA.”
James Morley, Professor, University of New South Wales, CAMA:
Slow adjustment back to neutral, but always ready for quick response to unusual developments in inflation or financial conditions: 
“After cuts in the policy rate over the past few months, monetary policy is currently in an accommodative stance. This provides some insurance against any possible deterioration in the domestic economy or spillovers from continuing problems in the rest of the world. However, in the absence of a full-blown financial crisis in the Eurozone, the main focus of policy should be on the appropriate timing to return to a more neutral stance over the next six to twelve months. This timing will depend in part on the inflation outlook, with the current outlook allowing for a fairly gradual adjustment. 
“As always, monetary policy should be ready to respond immediately to a new global financial crisis. But it should not do so pre-emptively unless the likelihood of a full-blown crisis rises substantially before the next policy meeting.”
Jeffrey Sheen, Professor and Head of Department of Economics, Macquarie University, Editor, The Economic Record, CAMA: 
“The cash rate was cut last month, which was a move that I did not support, but does constrain what I recommend now. Since then, the March quarter national accounts data have come out, showing real GDP growth at 4.3%, well above normal. 
“This may well be revised downward later, but not by enough to justify any further pessimism about the overall Australian economy. The source of expenditure growth was not only (mining) investment, but also consumption, which broadens the base for the recovery. In addition, employment growth (particularly, full-time) in May was positive, as was participation (which actually meant unemployment rose a little, but is still very low). 
Though the trend growth and level of productivity remains a concern, this is not something monetary policy can properly address. Global risks have declined following the outcome of the Greek election, and then the agreement by European leaders to allow direct recapitalisation of troubled banks and to encourage stimulus policies as well as a closer economic union in the longer run. Disaster would seem to be averted, but its hard to see ailing Europe as anything but the new Japan in the medium term."
This article originally appeared on <a href="https://theconversation.edu.au/" target="_blank">The Conversation</a>
</body></html>

The RBA should keep rates on hold: CAMA shadow board

<html><body>
The Victorian auction clearance rate has eased from 62% in May to 56% in June, according to the Real Estate Institute of Victoria. The highest clearance rates in June (for suburbs where there were 20 or more auctions) were in Glen Iris, Armadale, Malvern, Toorak and Brunswick.
The current Victorian auction clearance rate of 56% is about the same as it was in October 2008, with the clearance rate peaking at a high of 87% in mid-2009 and early 2010. 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/reivjuly2.jpg"><img src="/images/stories/2012/07/reivjuly2thumb.jpg"></a>
Source: <a href="https://www.reiv.com.au/Property-Research/Housing-Indicators.aspx" target="_blank">REIV</a>
</body></html>

Victorian auction clearance rate has trended downwards since March 2010: REIV

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

Joel Robinson

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

<section data-scroll-anchor="false" data-testid="conversation-turn-150" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-74" dir="auto">
Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
</section>

[smartcode_project_cta:default project_id=4896]

Above Zero launches Camberwell House in undersupplied Camberwell Junction precinct

<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, <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, 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]

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;

Cassidy Knowlton

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News