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A Bellevue Hill unit that sold for $2.92 million leads the top 10 notified sales of the week, according to RP Data.
The 373-square-metre apartment with harbour views last sold in 2005 for $2,005,000. It was briefly listed in 2008 but no sale was reported. The median unit price in <a target="_blank" href="/news">Bellevue Hill</a> is $652,250, according to RP Data.
<img src="/images/stories/2012/06/astongarden1.jpg">
This is the second week in a row with no sales reported over $3 million.
Six of the top 10 sales this week were in NSW, with the remaining four in Victoria.
<a target="_blank" href="/news">A double oceanfront block on Collaroy Beach sold this week for $8.7 million</a>, but the sale price was unreported.
1. <a target="_blank" href="https://www.myrp.com.au/n/1-7-aston-garden-bellevue-hill-nsw-2023/myrp-490?propertyId=1366521">1/7 Aston Garden, Bellevue Hill, NSW, 2023</a>, four-bedroom unit, sold at auction on June 21 by Raine &amp; Horne Double Bay for $2.92 million
2. <a target="_blank" href="https://www.myrp.com.au/n/2-10-yarranabbe-road-darling-point-nsw-2027/myrp-490?propertyId=2064819">2/10 Yarranabbe Road, Darling Point, NSW</a>, three-bedroom unit, sold at auction on June 19 by Bradfield Cleary for $2.9 million
3. <a target="_blank" href="https://www.myrp.com.au/n/331-gallaghers-road-glen-waverley-vic-3150/myrp-490?propertyId=15711131">331 Gallaghers Road, Glen Waverley, VIC, 3150</a>, six-bedroom house, sold at auction on June 23 by Ray White Real Estate Glen Waverley for $2.88 million
4. <a target="_blank" href="https://www.myrp.com.au/n/20-mistral-avenue-mosman-nsw-2088/myrp-490?propertyId=4493146">20 Mistral Avenue, Mosman, NSW, 2088</a>, four-bedroom house, sold before auction on June 23 by McGrath Estate Agents for $2,425,000
5. <a target="_blank" href="https://www.myrp.com.au/n/134-addison-road-manly-nsw-2095/myrp-490?propertyId=3970516">134 Addison Road, Manly, NSW, 2095</a>, four-bedroom house, sold on June 19 by Century 21 Williams Manly for $2.16 million
6. <a target="_blank" href="https://www.myrp.com.au/n/280-aldington-road-kemps-creek-nsw-2178/myrp-490?propertyId=3270620">280 Aldington Road, Kemps Creek, NSW, 2178</a>, four-bedroom house, sold at auction on June 23 by Inglis Property Macarthur for $2.07 million
7. <a target="_blank" href="https://www.myrp.com.au/n/2-northcote-avenue-balwyn-vic-3103/myrp-490?propertyId=9565093">2 Northcote Avenue, Balwyn, VIC, 3103</a>, six-bedroom house, sold at auction on June 23 by Marshall White Real Estate for $2.05 million
8. <a target="_blank" href="https://www.myrp.com.au/n/34-norbert-street-balwyn-vic-3103/myrp-490?propertyId=9565080">34 Norbert Street, Balwyn, VIC, 3103</a>, four-bedroom house, sold at auction on June 23 by Jellis Craig Real Estate Hawthorn for $1,935,000
9. <a target="_blank" href="https://www.myrp.com.au/n/7-selwyn-street-artarmon-nsw-2064/myrp-490?propertyId=8131994">7 Selwyn Street, Artarmon, NSW, 2064</a>, four-bedroom house, sold at auction on June 23 by McGrath Estate Agents for $1.85 million
10. <a target="_blank" href="https://www.myrp.com.au/n/783-punt-road-south-yarra-vic-3141/myrp-490?propertyId=13144899">783 Punt Road, South Yarra, VIC, 3141</a>, five-bedroom house, sold at auction on June 23 by Bennison Mackinnon Real Estate for $1.83 million
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Bellevue Hill unit tops week’s reported sales at $2.92 million: RP Data

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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.
Sophie and Dale's <a target="_blank" href="https://www.kayburton.com.au/property/401-dorcas-street-south-melbourne">401 Dorcas Street</a>
<img src="/images/stories/2012/06/kitch401.jpg">
<img src="/images/stories/2012/06/dining401.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 src="/images/stories/2012/06/kitch403.jpg">
<img src="/images/stories/2012/06/dining403.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 src="/images/stories/2012/06/kitch405.jpg">
<img src="/images/stories/2012/06/dining405.jpg">
<img src="/images/stories/2012/06/dining4052.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 src="/images/stories/2012/06/kitch407.jpg">
<img src="/images/stories/2012/06/dining407.jpg">
{module Block kitchens}
{module Block 2012 winner}
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Inside The Block 2012 – the kitchens and dining rooms

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For the many people who were interested in the property at 2/4 Shakespeare Grove Hawthorn there was one thing more important to them than location – their pets. Unusually, the owners’ corporation in this block does not allow pets, and this fact ruled many potential buyers out of contention.
For those who want to have a harmless punt, there's now a tipping website, <a target="_blank" href="https://www.propertytycoon.com.au/" rel="nofollow">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.
One of the five properties featured in the competition this week is <a href="https://www.realestate.com.au/property-apartment-vic-hawthorn-110646605" rel="nofollow">2/4 Shakespeare Grove, Hawthorn (pictured below).</a>
<img src="/images/stories/2012/06/shakesp.jpg">
Luckily for the vendor there was one potential buyer in the crowd of around 50 who was not concerned about the “no pets” clause and threw out the only bid of the auction at $1.56 million. With no other interested parties this buyer secured the right to negotiate exclusively with the vendors.
The vendors obviously knew they were sitting on a very good piece of real estate and extracted more than $100,000 from the buyer before the contacts were signed at $1,685,000.
In Sydney the scene was set for a big auction at <a href="https://www.realestate.com.au/property-apartment-nsw-clovelly-110592373" target="_blank">3/10 Ocean Street, Clovelly</a> (pictured below), with six registered bidders and the sight of whales frolicking in the ocean out the front.
<img src="/images/stories/2012/06/oceangrove.jpg">
The property was quoted at $1 million plus and after an opening bid of $950,000 four of the six registered bidders got involved before the bidding came to a halt at $1.22 million.
This figure was not what the vendor had in mind and the property was passed in and negotiations continued inside. A further $3,000 was extracted from the buyer and the property was formally sold for $1.25 million. Cheers.
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'No pets' rule knocks out bidders for Hawthorn auction tipping competition property

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{yoogallery src=[images/stories/december13local]}
Australand's Carlton development Local is selling briskly, with less than a week left until the <a href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863" target="_blank">Victorian government's $13,000 first-home bonus expires on June 30.</a> The bonus applies to all properties purchased by first-home buyers under $600,000 until this date.
Some 68 of the 116 apartments have sold so far, and 35 of these have been since the start of the year. 
<img src="/images/stories/2012/06/localchart2.png">
Owner-occupiers made up 45% of these sales, with overseas and local investors comprising a quarter each. First-home buyers have made up just 5% of the sales so far.
The Local project, which launched in early November, will comprise two low-rise buildings, one designed by Fender Katsalidis architects and the other by Arm Architecture. 
One-bedroom apartments will range in size from 44 to 54 square metres and cost between $350,000 and $450,000.
The majority of the development will comprise two-bedroom apartments ranging in size from 64 square metres to 74 square metres. Prices range from $500,000 to $670,000.
There will be six three-bedroom apartments of between 91 and 96 square metres. Prices start from $780,000 for these units.
Sarah Bloom, development director, built form, of Australand, says the inner-city location appeals to buyers.
“Located only 1.6 kilometres from the CBD, Local is at the very heart of what makes cosmopolitan Carlton the perfect inner-city lifestyle location,” Bloom says.
“Bounded by Palmerston, Canning and Elgin streets, residents will enjoy gracious tree-lined avenues, while stylish restaurants and cafés, great shopping, cinemas, and some of the city’s oldest parks and gardens are all conveniently located.”
Both buildings will have six green star sustainability ratings, with features such as water-efficient fixtures, solar-boosted hot water, rainwater harvesting and future-proofing for greywater supply.
The Fender Katsalidis building includes a communal rooftop with barbecue area and pizza oven.
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Australand's Carlton development Local more than half sold as first-home buyer deadline draws nearer

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<a href="https://www.propertyobserver.com.au/residential/water-usage-rates-suggest-melbourne-is-awash-with-unlisted-vacant-properties/2012062155215" target="_blank"><img src="/images/stories/2012/06/90k.gif"></a>
The possible number of <a href="https://www.propertyobserver.com.au/residential/water-usage-rates-suggest-melbourne-is-awash-with-unlisted-vacant-properties/2012062155215" target="_blank">unoccupied Melbourne homes that are not listed for rent</a>, according to an analysis of water usage by lobbying groups Earthsharing Australia and Prosper. Casting doubt on regularly reported vacancy rates, Deakin researcher Phillip Soos used City West Water and Yarra Valley Water figures to look for homes that consume less than 50 litres of water per day, saying these are all most likely unoccupied.
 
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<img src="/images/stories/2012/06/52percent.gif">
The percentage of Australians who expect mortgage rates to fall over the next 12 months, according to the Westpac-Melbourne Institute consumer survey. This is the first time since Westpac began asking the question (in February 2010) that a majority expected interest rates to fall.
 
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<a target="_blank" href="/news"><img src="/images/stories/2012/06/3point41m.png"></a>
The <a target="_blank" href="/news">price the former 1860-built Bible Christian Church in Gore Street, Fitzroy fetched at auction</a>. The bluestone building was once used as a furniture factory after its ceased operating as a tabernacle. It comes with tall brick-embellished Georgian windows and a 1911-added Greek Revival-style façade.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/judith-neilson-unveils-her-sculptural-%241475-million-residential-warehouse-wonderland-to-enliven-chippendale/2012061855173"><img src="/images/stories/2012/06/6point78m.gif"></a>
The<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/judith-neilson-unveils-her-sculptural-%241475-million-residential-warehouse-wonderland-to-enliven-chippendale/2012061855173"> projected cost of Judith Neilson's planned renovation of her recently purchased Chippendale warehouse</a>. The $14.75 million O’Connor Street warehouse project was formerly the Simona fashion headquarters now set directly opposite the upcoming Central Park precinct. Neilson is the founder of the White Rabbit Collection, one of the world's most significant collections of Chinese contemporary art,
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/rebecca-gibney-packing-up-after-selling-in-clareville/2012061955186"><img src="/images/stories/2012/06/1point3m.gif"></a>
Packed to the Rafters star Rebecca Gibney's initial price hopes for her Clareville home<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/rebecca-gibney-packing-up-after-selling-in-clareville/2012061955186">, which she sold this week.</a> The couple didn’t have the time to turn it into their dream home.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/industry-news/one-in-five-queensland-and-wa-real-estate-offices-made-a-loss-in-2011-macquarie-benchmarking-report/2012061955194"><img src="/images/stories/2012/06/1in5.gif"></a>
The rough proportion of <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/one-in-five-queensland-and-wa-real-estate-offices-made-a-loss-in-2011-macquarie-benchmarking-report/2012061955194">Queensland and WA estate agencies that made a loss in 2011</a>, according to the Macquarie 2012 Residential Real Estate Benchmarking report.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/girvan-estate-australias-tallest-private-home-sold-after-two-years/2012062155213"><img src="/images/stories/2012/06/30metres.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/girvan-estate-australias-tallest-private-home-sold-after-two-years/2012062155213">approximate height of Australia's tallest private home</a>, which sold this week after two years on the market. The Girvan tower was built at a cost of more than $2 million by local Peter Grey atop a hill on a back road between Stroud and Bulahdelah.
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The 7 must-know numbers of the week, starting with the potential number of unlisted vacant Melbourne homes

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The warehouse premises where Channel Ten filmed its ratings dud The Renovators is undergoing something of a major renovation itself – the 3.2-hectare Rosebery site is set to become the master-planned community Rosebery Park, and its first stage, Genesis, has just been released.
<img width="470" src="/images/stories/2012/06/rosebery1.jpg">
Rosebery Park will comprise 550 apartments, and Genesis comprises 105 studios and one-, two- and three-bedroom apartments. Of these, the one-bedders and some of the two-bedroom offerings will be under the $600,000 threshold for buyers to secure the NSW government’s home builders’ bonus, if they purchase before July 1.
<img width="470" src="/images/stories/2012/06/rosebery2.jpg">
Contracts began to be exchanged on June 9, and thus far about 20 units have been sold. Caroline Fagerlund of CBRE, who is marketing the properties, told Property Observer the sales thus far have been to a mix of owner-occupiers and investors, with most of the sold units under $600,000 as buyers secure stamp duty exemption. 
<img width="470" src="/images/stories/2012/06/rosebery3.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. <a target="_blank" href="https://www.propertyobserver.com.au/residential/budget-s-first-home-buyer-%248000-bonus-might-actually-pause-nsw-new-home-purchasing-until-october/2012061355094">First-home buyers would probably be wise to wait until October to purchase</a> if they are willing to risk missing out on the last few apartments, but <a target="_blank" href="https://www.propertyobserver.com.au/landlords/nsw-property-investors-condundrum-take-the-%2422490-housing-bonus-now-or-just-%245000-after-july-1/2012061255081">upgraders and investors could miss out on a stamp duty savings of up to $22,490</a> if they don't purchase by July 1.
<img width="470" src="/images/stories/2012/06/rosebery4.jpg">
The 40-square-metre studios start from $340,000, and the one-bedroom-plus study apartments start from $565,000 and are up to 59 square metres. The two-bedroom offerings start from $570,000 and are up to 96 square metres. All of these units would be eligible for the home builders’ bonus.


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<img width="470" src="/images/stories/2012/06/rosebery5.jpg">
Fagerlund says the most popular offerings so far have been two-bedroom offerings under this price point.
The two-bedroom courtyard apartments are a bit more expensive, starting from $640,000. The three-bedroom apartments range in size up to 116 square metres and begin at $785,000.
<img width="470" src="/images/stories/2012/06/rosebery6.jpg">
TMG is developing the project, which has been designed by architectural firm Bates Smart along with PTW. Interiors are by SJB Interiors, and the project is being marketed by CBRE.
<img width="470" src="/images/stories/2012/06/rosebery7.jpg">
“Rosebery Park will be a model estate for the rest of Sydney to admire, with tree-lined streets, good infrastructure and planned community facilities,” says CBRE director of residential projects Caroline Fagerlund. “This is a lifestyle for today, and capital growth for tomorrow.”
<img width="470" src="/images/stories/2012/06/rosebery8.jpg">
Rosebery Park is just six kilometres from Sydney CBD, and Fagerlund says the location will appeal to owner-occupiers and investors.
“Rosebery is close to many of Sydney’s best recreational attractions, such as our sporting stadiums, top golf courses, Randwick Racecourse, and our world-famous beaches, including Bondi, Bronte and Coogee,” Fargerlund says.
The median sale price for Rosebery units is $527,000, according to RP Data, and the median asking rent is $520 per week.
<img width="470" src="/images/stories/2012/06/rosebery9.jpg">
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Renovators' site Rosebery gets new life as Rosebery Park development: June 30 investor countdown

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9/1 Somers Street, Noble Park, VIC, 3174
<img src="/images/stories/2012/06/somersst.jpg" width="470">
Within walking distance of Noble Park train station, this one-bedroom Noble Park apartment is currently leased to a long-term tenant of 10 years, whose rent has recently been increased to $150 per week, which listing agent Chris Drieberg 0f Stockdale &amp; Leggo says is market rent for the area. 
Drieberg <a href="https://www.stockdaleleggo.com.au/details.asp?internetid=260703&amp;OFFICE_ID=&amp;order=&amp;suburb=3112&amp;surround=&amp;price1=0&amp;price2=9999999&amp;category=&amp;bedrooms=&amp;bathrooms=&amp;garages=0&amp;propertyType=&amp;OFFICE_GROUP_ID=&amp;offset=&amp;st=" target="_blank">is marketing the property</a> with price hopes of $150,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.2%, above the indicative gross rental yield for Noble Park units of 4.8%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $2,000 and over five years to be $5,000.
The median unit price in Noble Park
The property will be open for inspection Saturday, June 23 at 11am and will go to auction Saturday, July 7 at 11am.
For more information about prices and yields in Noble Park, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
 
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292 Ocean Grove, Laurieton, NSW, 2443
<img src="/images/stories/2012/06/martinst.jpg" width="470">
The tenants of this three-bedroom Laurieton property are paying $1,300 per month in rent, and the 4,496-square-metre block is close to natural features such as the beach, river and lake. 
LJ Hooker agent Martin Newell <a target="_blank" href="https://www.ljhooker.com.au/F87GQH">is marketing the property </a>with price hopes of $300,000 plus, and if it sells for $300,000 that would secure an investor a gross rental yield of 5.2%, above the indicative gross rental yield of 4.3% for Laurieton 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 Noble Park increased 1.2% in the past year, according to RP Data.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $8,000.
The property will be open for inspection Saturday, June 23 at 11am and will go to auction Thursday, July 5 at 6.30pm.
For more about prices and yields in Laurieton, see the RP Data suburb page.
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Friday form guide: Yields of up to 5.2% in Noble Park

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Furniture sales have resembled a well-used couch over the past five years. Trading conditions across the furniture market have been affected by volatile demand across the housing industry along with fluctuations in disposable income, consumer sentiment and consumer tastes and preferences.
These factors created mixed results for furniture retailers, which culminated in sales falling by 1.7% per annum in the five years through 2011-12. Sales were also affected by increasing levels of competition from department stores and online shopping websites. Despite this, the overall furniture market remained resilient, offering consumers the latest trends in furniture fashion displayed in clever store layouts, eye-catching catalogues and through offering flexible terms of payment.
Industry revenue is set to rise by 1.5% to $7.3 billion in 2011-12. Consumer demand for furniture goods will be driven by growth in disposable income levels of 4.4% and a more stable trading environment evidenced by a rise across the domestic economy. However, sales will be affected by a decline in house construction and almost static change in interest rates. Sporadic shifts in consumer spending patterns along with continued demand for heavily discounted and promotional products will also characterise industry sales for the year.
The industry will remain subject to intense competition from department stores and, in particular, online shopping sites, which have become a real threat to the future viability of the industry. In terms of total market size, merchandise retailed by furniture stores may also be purchased from department stores, fabric retailers, and online shopping and auction websites. IBISWorld estimates that the industry accounts for about 60% of total furniture retailing sales, with the remaining 40% of revenue derived from sales by other retailers. Hence, the total retail market for furniture items is estimated to average about $12.2 billion.
<img src="/images/stories/2012/06/furna1.gif">
<img src="/images/stories/2012/06/furna2.jpg">
Furniture retailers will experience a steady trading environment over the next five years, with sales rising 2.1% per annum to reach $8.1 billion in 2016-17. Demand will primarily be driven by solid growth in disposable income levels, which will influence the quantity and quality of merchandise purchased by consumers. As a result, retailers may experience a shift in consumer preferences toward middle-market furniture. Sales will also be boosted by a recovery in consumer sentiment, which is expected to fuel growth in consumer spending power. Despite the positive trading conditions expected during the next five years, furniture retailers will continue to experience intense competition from external players, such as department stores and online shopping sites eager to attract a larger share of the market.
 
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Product segmentation across the furniture retail market is largely guided by function and form. The relative share of each product segment has experienced modest change over the past five years. Changes in consumer tastes and furniture trends provided much of the impetus for growth across various product segments.
<img width="470" src="/images/stories/2012/06/furna-3.jpg">
Lounge and dining room
Lounge and dining room goods dominate furniture retailing and account for about 55% of total industry sales. Items classified under this segment include lounge suites (single-seater, two-seater and three-seater couches and modular suites), coffee tables, lamp tables, dining tables and chairs, buffets and hutches. This segment experienced significant change over the past five years with regard to design and functionality. Key trends include the use of glass, chrome and steel to create a modern, sleek and at times futuristic look. While traditionally shaped furniture continued to fill showroom floors, consumers increasingly sought individual designs and colours to transform their homes into modern living spaces.
Bedroom
Bedroom furniture is the second-largest product segment for the industry, accounting for about 33% of total industry sales. Items classified under this segment include bedheads and footboards, side tables, tallboys, dressers and mattresses. Changing trends and fads also affected the range of bedroom furniture stocked by industry retailers over the past five years. International markets and seasonal colours significantly influenced product lines. Advances in technology notably affected the range and functionality of mattresses on the market.
Outdoor and garden
Outdoor and garden furniture experienced strong growth over the past five years, due to the increased popularity of outdoor entertaining, the importance of garden design and the trend toward incorporating the garden settings as part of a home living area. The industry thus experienced a rise in the range of outdoor and garden furniture available to suit all household budgets and garden spaces.
Blinds
Blinds experienced growing popularity, driven by growth in the residential building construction cycle and a change in tastes and trends. While blind styles such as Holland and Roman maintained a constant share of the total blind market, the industry experienced growth in demand for timber blinds.
Other
Other furniture, such as coat stands and consoles, remained a relatively small product segment for the industry. Demand generally stemmed from a limited consumer group, often consisting of older consumers or those with a higher level of disposable income who are able to afford additional furniture pieces.
<h3>Major Players</h3>
Harvey Norman Holdings Ltd accounts for 9% market share followed by Super A-Mart Holdco Pty Limited (5.8%) and Steinhoff Asia Pacific Holdings Pty Ltd (4.5%)
<h3>Industry Outlook</h3>
Furniture retailers will bounce back over the five years through 2016-17, with sales expected to rise 2.1% per annum. Intense competition from external operators, namely department stores and online shopping and auction sites will remain a real threat to the viability of operators across the industry over the next five years. However, the industry will rebound by offering consumers specialised service and a differentiated product range, and by ensuring that products on the floor match consumer demand and expectations. Consumer demand will also be driven by trends in the level of real household disposable income, the consumer sentiment index, housing construction, household formation and interest rates.
To purchase IBISWorld’s full report on Australia’s Furniture Retailing Industry <a rel="nofollow" href="https://www.ibisworld.com.au/industry/default.aspx?indid=411">click here</a>.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
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Furniture retailers need a revamp to keep up with changing housing decor tastes

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Victorian first-home buyers who want to own a piece of Richmond history have until June 30 to buy in the Studio Square Heritage Apartments of Lend Lease’s Studio 9 development to secure the government’s $13,000 first-home bonus.
<img src="/images/stories/2012/06/studio91.jpg">
Thus far 23 of the 34 apartments in the 1908-built building have been sold, and selling agency CBRE has ramped up its advertising, hoping to secure more first-home buyer interest before the deadline.
From July 1 this year, 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/studio93.jpg">
The heritage building within the three-hectare Studio 9 development was built in 1908 as the Wertheim Piano factory.  It was later converted into a baked beans factory for Heinz before its most recent incarnation as Channel 9’s television studios.
Each of the 34 apartments has its own floorplan due to different window heights and configurations within the building. Kerstin Thompson Architecture has designed the building renovation to respect its heritage but provide modern-day living.
Subtle features, such as ebony- and ivory-coloured finishes and TV studio-style lighting, pay homage to the building’s past lives.
One-bedroom apartments start at $495,000 and start at 51 square metres. At the other end of the spectrum, three-bedroom apartments range up to 205 square metres and $1.9 million.
<img src="/images/stories/2012/06/studio94.jpg">
The building is part of stage one of a four-part release. Also included in stage one are 142 modern apartments, called Wertheim Square apartments, and 27 townhouses, of which about 15 have sold.
The development will include multiple garden spaces for community use and bike parking throughout.
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Lend Lease hoping government deadline spurs first-home buyers to lights, camera, action at Studio 9

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expensive property a six-bedroom Templestowe house that sold at auction for $2,195,000.
In May this year 10 Summerhill Road in the middle-ring Melbourne suburb of Templestowe was listed for rent at $1,900 per week, and it was previously up for sale in November 2006. The house has a tennis court, indoor and outdoor pools, spa, sauna, gazebo, gas-fired and wood-fired oven and outdoor gas barbecue.
Ray White listing agent Frank Perri describes it in its marketing as palatial and says it offers “exquisite lifestyle in the lap of luxury”.
The second most expensive sale of the week was tightly held 4 Stathfield Avenue, in the Sydney suburb of Strathfield. The seven-bedroom house sold at its weekend auction for $2.35 million and was last sold in 1998 for $750,000, according to RP Data. The vendor also attempted to sell it in 2008.
Those two properties were the only reported sales over the $2 million mark this week, with the rest of the top 10 sales ranging from $1.7 million to $1.98 million. Four of the top 10 sales were in Victoria, with the rest in New South Wales.
1. <a href="https://www.myrp.com.au/n/10-summerhill-road-templestowe-vic-3106/myrp-490?propertyId=13499916">10 Summerhill Road, Templestowe, VIC, 3106,</a> six- bedroom house, sold at auction on June 16 by Ray White Manningham for $2,915,000
2. <a href="https://www.myrp.com.au/n/4-strathfield-avenue-strathfield-nsw-2135/myrp-490?propertyId=6494886">4 Strathfield Avenue, Strathfield, NSW, 2135</a>, seven-bedroom house, sold at auction on June 16 by Strathfield Partners for $2.35 million
3. 30A Parslow Street, Malvern, VIC, 3144, four-bedroom house, sold at auction on June 16 by Kay &amp; Burton South Yarra for $1.98 million
4. 14A Wilfield Avenue, Vaucluse, NSW, 2030, four-bedroom house, sold at auction on June 16 by Hart Estate Agents for $1.97 million
5<a href="https://www.myrp.com.au/n/73a-mont-albert-road-canterbury-vic-3126/myrp-490?propertyId=10257570">.</a><a href="https://www.myrp.com.au/n/73a-mont-albert-road-canterbury-vic-3126/myrp-490?propertyId=10257570"> 73A Mont Albert Road, Canterbury, VIC, 3126</a>, four-bedroom house, sold at auction on June 16 by Jellis Craig Real Estate Balwyn for $1.83 million
MYRP:
6. <a href="https://www.myrp.com.au/n/3-winton-street-warrawee-nsw-2074/myrp-490?propertyId=7313350">3 Winton Street, Warrawee, NSW, 2074</a>, five-bedroom house, sold at auction on June 16 by L J Hooker Wahroonga for $1.82 million
7. <a href="https://www.myrp.com.au/n/21-bromley-avenue-pymble-nsw-2073/myrp-490?propertyId=5638952">21 Bromley Avenue, Pymble, NSW, 2073</a>, five-bedroom house, sold at auction on June 16 by Century 21 Cordeau Marshall for $1.75
8. 11 Hudson Street, Hampton, VIC, 3188, four-bedroom house, sold at auction on June 16 by Hodges Sandringham for $1.74 million
9. 5/9 Lower Wycombe Road, Neutral Bay, NSW, 2089, two-bedroom unit, sold on June 14 by Raine &amp; Horne Mosman for $1.7 million
10. <a href="https://www.myrp.com.au/n/195-queens-road-connells-point-nsw-2221/myrp-490?propertyId=1923363">195 Queens Road, Connells Point NSW, 2221</a>, four-bedroom house, sold at auction by McGrath Estate Agents for $1.7 million
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No reported sales over $3 million as Templestowe house takes top price of the week: RP Data

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.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

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.

[smartcode_project:default project_id=149594 project_image_fid=362634]

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.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

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.

[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.

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.

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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.”
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[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.

Cassidy Knowlton

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