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There was a patchy result for auction tipping competition Property Tycoon auctions this week, as three out of five properties sold in both Melbourne and Sydney.
For those who want to have a harmless punt, there's now a tipping website, <a 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.
The result at 64 Rosedale Road, Glen Iris (pictured below), shows the inner-eastern Melbourne market is well supported, as three bidders contested the auction.
<img src="/images/stories/2012/06/rosedale.jpg">
After being quoted at $1 million to $1.1 million by James Redfern at Marshall White, the property was announced on the market at $1.15 million before selling under the hammer for $1,226,000. This price was almost $100,000 more than the average tip.
It was a different story for 56 Bland Street, Ashfield (pictured below), in Sydney’s inner west, where it sold for $100,000 below the average tip.
<img src="/images/stories/2012/06/bland.jpg">
Agent Tony Andreacchio from Raine and Horne was spot on when he quoted 56 Bland Street, Ashfield, at $1.35 million to $1.45 million, as the property sold on Saturday for $1.42 million.
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cknowlton-QnEa6ntUYP

Patchy result for property auction tipping competition

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Another day, another report on our growing housing supply crisis.

Today the COAG Reform Council, headed by Paul McClintock, released its <a target="_blank" href="https://www.coagreformcouncil.gov.au/reports/housing.cfm">third annual report</a> on performance against COAG's 2009 National Affordable Housing Agreement, covering 2010-11.

The report's conclusions are disheartening. It finds that rental affordability got worse between 2007 and 2010: more than 40% of low-income households are now in "rental stress" (defined as rent higher than 30% of gross household income), up from 37% in 2007. Some 60% of people in the lowest 10% of incomes face rental stress, up from just under 50%. And the problem is worst in NSW, which has been identified in other reports by the <a target="_blank" href="https://www.crikey.com.au/2011/12/22/national-housing-supply-council-report/">National Housing Supply Council</a> and from <a target="_blank" href="https://www.crikey.com.au/2012/06/22/census-reveals-the-consequences-of-a-national-housing-myopia/">the census</a> as the worst state for housing supply.

The Reform Council's report also concluded that housing had become less affordable through the period, though primarily as a consequence of interest rate rises. The problem was particularly acute in capital cities, and Queensland was the worst state for affordable housing for low-income earners. But the overall level of mortgage stress for low income households remained the same over the period.

The report also concluded that the gap between the level of housing supply and demand had more than doubled to nearly 187,000 since 2008. The numbers are a little more conservative than the most recent National Housing Supply Council <a target="_blank" href="https://www.nhsc.org.au/content/publications/housing_supply_affordability/exec_summary">update</a>, which revised its estimates of the dwelling gap to 200,000 in 2010. Both reports agree, however, the NSW was the worst state, with a dwelling gap of about 73,000-74,000, but Queensland was getting worse.

The COAG report is separate from the process initiated in April 2010 -- Kevin Rudd's last COAG meeting -- where COAG agreed <a target="_blank" href="https://www.coag.gov.au/coag_meeting_outcomes/2010-04-19/docs/Communique_20_April_2010.pdf">"a housing supply and affordability reform agenda"</a> with a tight timeframe for a comprehensive series of reports and reviews examining housing supply and government policies that acted as impediments to the delivery of more housing stock. All of the activity associated with the agenda was scheduled to be completed by the end of 2010, except for one project that was given until mid-2011.

Since then the agenda has disappeared without trace, as if it was all a figment of Rudd's imagination. According to the National Housing Supply Council, from the time COAG announced the agenda to the end of 2011, the dwelling gap blew out by another 28,000 to 228,000.

The COAG report noted that it was having difficulty reporting on the relevant partnerships between state and Commonwealth governments that contribute to the housing agreement, because it "cannot link the activity reported to the outcomes and objectives in the National Agreement. Reports on national partnerships generally provide information on activity without evidence of the effect the activity has on outcomes ... We cannot clearly mark progress against commitments or analyse them comparatively."

That is, the states are good at saying what they're doing but not so good at saying whether they're meeting outcomes or making progress in a way that enables the council to compare across states.

We're thus left with only a limited number of indicators, and chiefly that ever-growing dwelling gap, to illustrate government failure.

As the history of the COAG housing agenda shows, this was briefly a priority for federal Labor, but the Gillard government appears to have lost interest in it. Low-income earners across Australia will continue to suffer the consequences.
This article originally appeared on <a href="https://www.crikey.com.au/" target="_blank">Crikey</a>.
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Housing affordability fell between 2006 and 2010: COAG

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A new business model for wine is turning customers into angel investors, encouraging them to invest in a $1.5 million trust fund designed to help independent winemakers crack the market.
Naked Wines, which launches in Australia on July 1, was founded in the United Kingdom in 2008 by Rowan Gormley, former chief executive of Virgin Wines and Virgin Money.
Over the next year, Naked Wines will invest $1.5 million in Australian vineyards. The company aims to help fund up to 20 independent winemakers looking for their big break.
Consumers with a penchant for wine are encouraged to invest in these winemakers as “angels”, and, in return, enjoy discounts of up to 50% on premium wines.
Angels pay a monthly subscription towards Naked Wines, which goes towards improving the service, but are able to redeem their monthly fee for a reduced rate on any purchases.
By doing this, Naked Wines says it “counters the creative stifling that the extreme consolidation at the retail end of market has generated”.
Angels also have the opportunity to meet the winemakers.
“[I have] witnessed the growth and dominance of the big supermarket chains, their increase in private label brands and the boom in discount distressed stock suppliers,” Naked Wines Australia managing director Luke Jecks says.
“I knew winemakers were getting fewer opportunities and customers were getting fewer choices. The Australian wine industry needed a rapid change.”
“I turned to my good friend and entrepreneur, Rowan Gormley, who was already successfully leading the way with change and success in the UK, and fell in love with the Naked Wines model.”
“I’m so excited to be bringing it to Australia to ensure our talented winemakers are not left behind, and Australian consumers can connect with the real stars of the industry.”
Naked Wines aims to directly connect the consumer with the winemaker, thus “stripping out all the fluff”, such as marketing.
The website allows customers to interact directly with one another and with the winemakers.
Customers are encouraged to build a profile, make friends, upload content, and integrate their ratings with their Twitter and Facebook accounts.
Naked Wines also has an iPhone app with videos, tasting notes, shareable deals, and the ability to chat to the winemaker about the wine they are drinking.
Naked Wines Australia already has several projects on the go, including:
<ul>
<li>Sam Plunkett, a winemaker from the Strathbogie Ranges in Victoria, who set up his own label after his wine was named best shiraz in Australia in 2010.</li>
</ul>
<ul>
<li>Husband-and-wife team Rebecca and Adrian Santolin, who met while working in the wine industry and created their own label, Boy Meets Girl.</li>
</ul>
<ul>
<li>Former Craggy Range winemaker Rod Easthope, who wants to produce an exclusive range of wines under his own name at scale.</li>
</ul>
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
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Naked wines group gives customers the chance to invest in vineyards

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Mirvac threw in in an extra $10,000 sweetener to attract first-home buyers to some of its offerings before the Victorian government’s first-home bonus expires tomorrow, June 30.
<img src="/images/stories/2012/06/tce1.jpg">
The latest release of homes in the master-planned <a target="_blank" href="https://www.propertyobserver.com.au/land/near-90-of-lots-sold-in-first-release-of-wantirna-south-project-harcrest/2012050154454">Harcrest</a> and Waverley Park developments, called Terrace Homes, come with a $10,000 Visa cash card.
<img src="/images/stories/2012/06/tce3.jpg">
The homes launched in early June, and about 30% are sold so far. Until tomorrow, first-home buyers who buy a property under $600,000 <a href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863" target="_blank">will be entitled to a $13,000 bonus from the Victorian governmnent. </a>From this Sunday, first-home buyers will be entitled to a 20% reduction in stamp duty on homes under $600,000. For a home costing $600,000, this equates to a stamp duty savings of $6,214, less than half what a first-home buyer would secure from the first-home bonus.
<img src="/images/stories/2012/06/tce5.jpg">
The three-bedroom Terrace Homes start from $505,000 and are aimed at the first-home buyer market.
<img src="/images/stories/2012/06/tce4.jpg">
“We understand many young couples and families are struggling to buy their first home, juggling things like rising utility bills, school fees and food costs. With the first-home owner grant coming to an end on 30 June, the Terrace Homes offer Mirvac’s signature quality finishes at an affordable price point, meaning more families are now able to buy their own home,” says Matthew Wallace, Mirvac CEO of masterplanned communities.
Harcrest is in the outer-Melbourne suburb of Wantirna South, about 30 kilometres east of Melbourne CBD, and Waverley Park is in the south-eastern Melbourne suburb of Mulgrave, about 25 kilometres from the CBD.
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Mirvac’s latest Victorian releases target first-home buyers with $10,000 sweetener in June

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<a href="https://www.propertyobserver.com.au/leisure/sydney-shangri-la-hotel-sells-to-hong-kong-shangri-la-asia-group-for-record-%24352-million/2012062555249" target="_blank"><img src="/images/stories/2012/06/352m.gif"></a>
The <a href="https://www.propertyobserver.com.au/leisure/sydney-shangri-la-hotel-sells-to-hong-kong-shangri-la-asia-group-for-record-%24352-million/2012062555249" target="_blank">record-setting price Hong Kong-listed Shangri-La Asia has paid for Sydney’s Shangri-La Hotel in The Rocks</a>. Asian buyers have accounted for 93% of all hotel sales this year.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/the-square-kilometre-array-will-bring-international-attention-%E2%80%93-and-property-investment-%E2%80%93-to-geraldton-wa-terry-ryder/2012062755296"><img src="/images/stories/2012/06/5point2b.jpg"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/the-square-kilometre-array-will-bring-international-attention-%E2%80%93-and-property-investment-%E2%80%93-to-geraldton-wa-terry-ryder/2012062755296"> amount of money being invested in the Square Kilometre Array in Geraldton, WA</a>. The multibillion-dollar telescope project is "an international project involving 20 nations, and a site just outside Geraldton in Western Australia will provide the core of the development. This makes Geraldton a city of international importance and adds to its appeal as a place worthy of consideration by property investors," says hotspotting.com.au's Terry Ryder.
 
<hr>
 
 
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/2day-fm-s-jackie-o-buys-family-home-in-vaucluse-with-five-bedrooms/2012062255231"><img src="/images/stories/2012/06/2point7m.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/2day-fm-s-jackie-o-buys-family-home-in-vaucluse-with-five-bedrooms/2012062255231">approximate price Jackie O</a>, the top-rating 2Day FM breakfast announcer, and her farmer husband, Lee Henderson, paid for their family home in Vaucluse, in Sydney's posh eastern suburbs last month. It’s a cosy five-bedroom 1920s abode. 
 
<hr>
<a href="https://www.propertyobserver.com.au/industry-news/the-oldest-real-estate-agencies-in-australia-as-ray-white-%E2%80%93-by-no-means-the-oldest-%E2%80%93-marks-110-years/2012062555079" target="_blank"><img src="/images/stories/2012/06/1839n.gif"></a>
The <a href="https://www.propertyobserver.com.au/industry-news/the-oldest-real-estate-agencies-in-australia-as-ray-white-%E2%80%93-by-no-means-the-oldest-%E2%80%93-marks-110-years/2012062555079" target="_blank">year that Elders Real Estate,</a> which claims the title of the oldest real estate agency in Australia, was founded.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-not-yet-becoming-manhattan-with-percentage-of-apartments-falling-abs-census-2011/2012062555253"><img src="/images/stories/2012/06/15point3percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-not-yet-becoming-manhattan-with-percentage-of-apartments-falling-abs-census-2011/2012062555253">percentage of Melbourne dwellings that are apartments</a>, according to the results of the 2011 census. This is down from 16.1% in 2006, discounting the perception that Melbourne is turning into a mini-Manhattan given the high-rise apartment projects in Docklands.
 
<hr>
 
 
 
<a target="_blank" href="https://www.propertyobserver.com.au/rural/almost-three-quarters-of-family-farms-don-t-make-enough-to-support-the-family/2012062655279"><img src="/images/stories/2012/06/72percent.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/rural/almost-three-quarters-of-family-farms-don-t-make-enough-to-support-the-family/2012062655279"> percentage of family farms that don't make enough money to support the family</a>. More than one-third of all family farms relied on adults living on the farm to earn wages elsewhere, reinforcing the stereotype that many farm wives have to work as local doctors, hairdressers and teachers for their families to survive.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/renovating/nine-years-after-the-tv-cameras-turned-off-bondis-original-block-units-hit-the-rental-market-with-hardly-a-credit/2012062755303"><img src="/images/stories/2012/06/720.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/renovating/nine-years-after-the-tv-cameras-turned-off-bondis-original-block-units-hit-the-rental-market-with-hardly-a-credit/2012062755303">asking rent for the winner of the 2003 inaugural series of The Block, in Bondi.</a> This is adjusted slightly downwards from its initial $750 asking rental. It's seemingly been rented.
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The 7 must-know numbers of the week, starting with the record-setting price paid for Sydney's Shangri-La Hotel

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16/187 Cleveland Street, Redfern, NSW, 2016
<img src="/images/stories/2012/06/cleveland.jpg">
Within walking distance of Central Station and Sydney CBD, this recently renovated two-bedroom apartment is currently tenanted at $550 per week, and the tenant is on an expired lease. Listing agent Braden Walters from True Property says the unit could reasonably be expected to fetch $570 a week in rent. The property is also within walking distance of Surry Hills, UTS and the University of Sydney. 
Walters <a target="_blank" href="https://www.trueproperty.com.au/411887/">is marketing the property</a> with price hopes of $500,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.7% at its current rent, above the indicative gross rental yield for Redfern units of 4.8%, according to RP Data. At $570 per week it would secure an investor a gross rental yield of $5.9%. 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 $13,000 and over five years to be $43,000.
The median unit price in Redfern rose 1.1% in the past year and 31.9% in the past five years, according to RP Data.
The property will go to auction on Saturday, June 30 at 1pm.
For more information about prices and yields in <a target="_blank" href="/news">Redfern, see the RP Data suburb page.</a>
For another investment prospect open for inspection this weekend, see page 2.
<hr class="system-pagebreak">
3/18 The Crescent, Highett, VIC, 3190
<img width="470" src="/images/stories/2012/06/thecrescent.jpg">
This three-bedroom house in Highett has a long-term tenant paying $400 a week who would be keen to stay on. The property includes a standalone garage and is at the end of a quiet crescent.
Listing agent Christian Hegarty of Buxton <a href="https://www.ljhooker.com.au/F87GQH" target="_blank">is marketing the property </a>with price hopes of $420,000 plus, and if it sells for $420,000 that would secure an investor a gross rental yield of 5%, above the indicative gross rental yield of 3.3% for Highett houses, 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 house price in Highett  fell 6.7% 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 $11,000 and over five years to be $39,000.
The property will be open for inspection Saturday, June 30 at 12.3opm and will go to auction Saturday, July 14 at 1.30pm.
For more about prices and yields in <a target="_blank" href="/news">Highett, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 5.9% in Redfern

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With the auction of The Block 2012 South Melbourne terraces coming up on Saturday and all of the rooms now revealed, Property Observer inspects each of the four terraces for comparison.
We also take a look at the <a href="https://www.propertyobserver.com.au/renovating/inside-the-block-2012-%E2%80%93-the-kitchens-and-dining-rooms/2012062555265" target="_blank">kitchens and dining rooms inside each The Block 2012 property.</a>
Sophie and Dale's <a target="_blank" href="https://www.kayburton.com.au/property/401-dorcas-street-south-melbourne">401 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/bed401.jpg">
<img width="470" src="/images/stories/2012/06/bed4012.jpg">
<img width="470" src="/images/stories/2012/06/bed4013.jpg">
<img width="470" src="/images/stories/2012/06/bath401.jpg">
<img width="470" src="/images/stories/2012/06/bath4012.jpg">
<img src="/images/stories/2012/06/line.gif">
Mike and Andrew's <a target="_blank" href="https://www.hstheblock.com.au/">403 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/bed403.jpg">
<img width="470" src="/images/stories/2012/06/bed4032.jpg">
<img width="470" src="/images/stories/2012/06/bed4034.jpg">
<img width="470" src="/images/stories/2012/06/bed4035.jpg">
<img width="470" src="/images/stories/2012/06/bed4036.jpg">
<img width="470" src="/images/stories/2012/06/bed4037.jpg">
 
 
<hr class="system-pagebreak">
 
Brad and Lara's <a target="_blank" href="https://www.buxton.com.au/cgi-bin/show_item.pl?Type=Property&amp;OID=4020713">405 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/bed405.jpg">
<img width="470" src="/images/stories/2012/06/bed4052.jpg">
<img width="470" src="/images/stories/2012/06/bed4054.jpg">
<img width="470" src="/images/stories/2012/06/bed4055.jpg">
<img src="/images/stories/2012/06/line.gif">
Dani and Dan's<a target="_blank" href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2067340"> 407 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/bed407.jpg">
<img width="470" src="/images/stories/2012/06/bed4072.jpg">
<img width="470" src="/images/stories/2012/06/bed4073.jpg">
{module Block bedrooms}
{module Block 2012 winner}
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Inside The Block 2012 – the bedrooms and bathrooms

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With the auction of The Block 2012 South Melbourne terraces coming up on Saturday and all of the rooms now revealed, Property Observer inspects each of the four terraces for comparison.
We have also looked at the <a href="https://www.propertyobserver.com.au/renovating/inside-the-block-2012-%E2%80%93-the-kitchens-and-dining-rooms/2012062555265" target="_blank">kitchens and dining rooms inside each property.</a>
Sophie and Dale's <a target="_blank" href="https://www.kayburton.com.au/property/401-dorcas-street-south-melbourne">401 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/out401.jpg">
<img width="470" src="/images/stories/2012/06/out4012.jpg">
<img width="470" src="/images/stories/2012/06/out4013.jpg">
<img width="470" src="/images/stories/2012/06/out4014.jpg">
<img width="470" src="/images/stories/2012/06/out4015.jpg">
<img src="/images/stories/2012/06/line.gif">
Mike and Andrew's <a target="_blank" href="https://www.hstheblock.com.au/">403 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/out403.jpg">
<img width="470" src="/images/stories/2012/06/out4032.jpg">
<img src="/images/stories/2012/06/line.gif">
Brad and Lara's <a target="_blank" href="https://www.buxton.com.au/cgi-bin/show_item.pl?Type=Property&amp;OID=4020713">405 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/out405.jpg">
<img width="470" src="/images/stories/2012/06/out4052.jpg">
<img width="470" src="/images/stories/2012/06/out4053.jpg">
<img width="470" src="/images/stories/2012/06/out4054.jpg">
<img src="/images/stories/2012/06/line.gif">
Dani and Dan's<a target="_blank" href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2067340"> 407 Dorcas Street</a>
<img width="470" src="/images/stories/2012/06/out407.jpg">
<img width="470" src="/images/stories/2012/06/out4072.jpg">
{module Block 2012 winner}
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Inside The Block 2012 – the exteriors and top floors

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Retail rents could fall by as much as 15% amid weak sales and store closures, according to Morgan Stanley, but an industry expert says retail sales are still growing at a modest pace. 
According to an article in The Australian Financial Review, Morgan Stanley analysts noted rents are dropping in a number of malls and for a number of retailers. 
But according to the Australian Retail Research and Forecast Report, produced by Colliers International, the first half of 2012 “has been a continuation of what we saw in 2011”. 
“The most recent retail trade figures released by the ABS reflect anecdotal evidence from retailers that conditions remain tough,” Colliers research director Nora Farren said in the report. 
“A number of high-profile retailer collapses and potential store closures were reported during the first half of 2012, but the number is actually lower than for the same period in 2011.” 
“The failure of Sleep City, WOW Audio Visual Superstores, Game and Retravision Southern are amongst those to occur during the past six months.” 
“While these will have a short-term effect on shopping centre occupancy levels, the fundamentals in high quality centres remain sound.” 
According to Farren, retailers will continue to open stores in order to grow profits, with tenant demand for good quality centres expected to exceed availability. 
“While sales growth has slowed across the portfolios of the major retail landlords, the bulk still report being able to increase rents on review,” she said. 
Strong regional shopping centres and supermarket-based assets have continued to perform better than small- to medium-sized malls with a focus on discretionary retail, the research found. 
Well-located neighbourhood centres that are not dependent on discretionary spending are expected to be well placed for growth in 2012. 
On a state by state basis, the mining states continue to outperform the rest of Australia with regard to retail spending, with WA now accounting for 11.9% of total retail turnover. 
“Within the non-mining states, New South Wales and South Australia bucked the trend… Annual growth for both states is running at 2.1%,” Farren says. 
“In Tasmania, retail sales fell 0.6% [in April], matching the Australian Capital Territory’s 0.6% fall during the month.”
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
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Retail rents could fall by 15% across Australia due to store closures and poor sales: Morgan Stanley

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There are only three days left for NSW property investors or non-first-home buyers to take advantage of the NSW government’s stamp duty exemption for new homes, and developer Tripod Property Group has rushed its new Zetland development Link to market, hoping to generate a few sales before the June 30 deadline.
<img src="/images/stories/2012/06/link1.jpg">
The south-Sydney Turner + Associates-designed development launched over the weekend. Three contracts were exchanged over the weekend, and marketing agency Colliers says there was a lot of interest.
The development is planned to include 31 one-bedroom apartments (18 with studies) with an average size of between 61 and 65 square metres, which will start from $490,000. The five two-bedroom apartments, with an average size of 90 square metres, start from $681,000, and the 36 two-bedroom apartments with studies start from $686,000 and average about 95 square metres.
<img src="/images/stories/2012/06/link3.jpg">
Buyers who want to take advantage of the NSW government’s home builder bonus, which applies to new properties under $600,000 for both owner-occupiers and investors and exempts buyers from stamp duty, have until July 1 before the scheme expires. First-home buyers would probably be wise to wait until October to purchase if they are willing to risk missing out on their first choice of apartments, but upgraders and investors could miss out on a stamp duty savings of up to $22,490 if they don't purchase by July 1.
<img src="/images/stories/2012/06/link2.jpg">
The 11,366-square-metre site will comprise 72 apartments across two buildings and will include 2,000 square metres of landscape gardens.
“This will be planted on top of a colonnade of shops, retail services and dining options,” says Dan Szwaj from Turner + Associates.
<img src="/images/stories/2012/06/link4.jpg">
The buildings are designed with splayed walls, articulated blades and vertical fins to create a sense of movement. Bold colours are used throughout internal and external spaces.
Every apartment comes with a car space, and strata fees are expected to be low, around $800 for one-bedrooms and $1,000 for two-bedrooms per quarter.
<img src="/images/stories/2012/06/link5.jpg">
The median unit price in Zetland, less than five kilometres from Sydney CBD, is $561,000, according to RP Data, and the median price fell 3.3% last year.
“Over the past decade Zetland has becoming increasingly popular as a residential address, particularly for young highly skilled knowledge workers who are attracted by the cafe lifestyle of Danks Street,” said Ian Bennett of Colliers International.
“Fortunately Link is located outside the high-density Green Square urban renewal zone, so residents will be able to take advantage of all the facilities at Green Square yet still enjoy space, privacy and peace.”
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Zetland development Link launches, with June 30 NSW property investor deadline days away 

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

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The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

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While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

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The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Joel Robinson

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

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.

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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.

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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.

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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.

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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.

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.

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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.

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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.

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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.

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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.

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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>

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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;

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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;

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“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.

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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.

Cassidy Knowlton

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