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When only around 50% of auctioned properties are selling it can be difficult to work out which half will sell and which won't. Take for example 30 Elwood Street, Brighton and 15 Chastleton Avenue, Toorak. On paper both multimillion-dollar properties in blue-chip locations, with great parcels of land and homes have strong appeal. In a more stable markets both properties would attract strong interest and sell via a competitive auction. On Saturday however the outcome for both properties could not be more different.
While a crowd of 60 people watched the auction of 30 Elwood Street, the auctioneer failed to extract a single bid, and the property was passed in on a vendor bid of $2.4 million, $100,000 less than the agent's quote range. It could be argued that the fear of a European financial meltdown kept buyers away. But Chastleton Avenue, on the other hand, attracted four bidders who competed aggressively for the property before it was finally sold under the hammer for $4,135,000, more than $200,000 above the reserve.
The result illustrates that although there are still purchasers out in the marketplace with money there are not enough to cover all the available stock and selling property at auction this spring is a game of chance.
While the RBA's decision to cut rates will help build some long needed confidence in the market overtime it will take a few more rate cuts next year, as predicted by Westpac's CEO Gail Kelly, before enough buyers come out of the woodwork to re balance the market.
The remainder of 2011 will continue to be a buyers' market.
<img src="/images/stories/elwoodst.jpg">
30 Elwood Street, Brighton, VIC, 3186
Sale price: Passed in on a vendor bid of $2.4 million
Agent quote: $2.5 million to $2.75 million
% above agent quote: 0%
Bidders: 0
Last sold: May 1992 at $620,000
Growth since last sale:  7.19% (calculated on passed in value)
Median growth: 7.44%
Average tip: $2,805,750
% Correct tips 10.78%
<a target="_blank" href="https://www.propertytycoon.com.au">Property Tycoon</a> allows punters to guess auction results with no outlay.
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cknowlton-QnEa6ntUYP

Weekend auction tipping result

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<a target="_blank" href="https://www.propertyobserver.com.au/auctions/melbourne-gets-its-super-saturday-test-after-all/2011111452343"><img src="/images/stories/1045.jpg"></a>
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<div>The <a target="_blank" href="https://www.propertyobserver.com.au/auctions/melbourne-gets-its-super-saturday-test-after-all/2011111452343">number of Melbourne auctions scheduled for the weekend of November 26</a>. Melbourne typically can have five or so 1,000-plus auction weekends each year, but November 26 will be the first this year. There were some 950-auction weekends during late autumn, according to the Real Estate Institute of Victoria.</div>
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<a target="_blank" href="https://www.propertyobserver.com.au/rural/barambah-cattle-station-inland-from-sunshine-coast-gets-bullish-%244.83-million-auction-result/2011111452354"><img src="/images/stories/4point83m.jpg"></a>
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<div>The price achieved for the <a target="_blank" href="https://www.propertyobserver.com.au/rural/barambah-cattle-station-inland-from-sunshine-coast-gets-bullish-%244.83-million-auction-result/2011111452354">150-year-old Barambah homestead</a>, one of the oldest stations in Queensland. More than $4 million was being sought. Barambah Station’s renovation was awarded the inaugural 2009 Gabriel Poole Award for Building of the Year.</div>
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<div><a target="_blank" href="https://www.propertyobserver.com.au/showcase/wayne-ormond-s-refund-home-loans-owes-creditors-9.7-million-as-relations-with-franchisees-turn-sour/2011111652384"><img src="/images/stories/9point7.jpg"></a></div>
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<div>The amount that <a target="_blank" href="https://www.propertyobserver.com.au/showcase/wayne-ormond-s-refund-home-loans-owes-creditors-9.7-million-as-relations-with-franchisees-turn-sour/2011111652384">Refund Home Loans owes its 119 creditors</a>, including many franchisees. Earlier reports said Refund was placed into voluntary administration owing $2.5 million. There has been no indication yet as to what the assets of the company are worth.</div>
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<a target="_blank" href="https://www.propertyobserver.com.au/auctions/jim-raptis-paradise-waters-property-listed-for-receivership-auction/2011111552381"><img src="/images/stories/3369.jpg"></a>
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<div>The size of a <a target="_blank" href="https://www.propertyobserver.com.au/auctions/jim-raptis-paradise-waters-property-listed-for-receivership-auction/2011111552381">vacant residential block in Paradise Waters belonging to Gold Coast developer Jim Raptis</a> put up for receivership auction. The waterfront Commodore Drive property was seized by receivers after Raptis failed to find a buyer earlier this year.</div>
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<div><a target="_blank" href="https://www.propertyobserver.com.au/international/charlie-sheen-sells-la-house-to-big-bang-theory-star/2011111552373"><img src="/images/stories/2point6m.jpg"></a></div>
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<div>The amount (in US dollars) that actor and tiger blood connoisseur <a target="_blank" href="https://www.propertyobserver.com.au/international/charlie-sheen-sells-la-house-to-big-bang-theory-star/2011111552373">Charlie Sheen secured for the LA mansion he sold to Big Bang Theory star Simon Helberg</a> and Helberg's partner, Jocelyn Towne.</div>
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<div><a target="_blank" href="https://www.propertyobserver.com.au/residential/yields-of-up-to-6-draw-investors-to-studio-apartments/2011111652390"><img src="/images/stories/6per.jpg"></a></div>
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<div>The <a target="_blank" href="https://www.propertyobserver.com.au/residential/yields-of-up-to-6-draw-investors-to-studio-apartments/2011111652390">rental yields achieved by some Sydney studio apartments</a>. Studios can command rental yields of 1% to 1.5% higher than one-bedroom and two-bedroom apartments, though they do not have as much potential for capital growth.</div>
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<div><a href="https://www.propertyobserver.com.au/developments/mirvac-hopes-to-transform-fly-in-fly-out-karratha-in-the-pilbara-into-a-city/2011111652398" target="_blank"><img src="/images/stories/1point5b.jpg"></a></div>
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<div>The <a href="https://www.propertyobserver.com.au/developments/mirvac-hopes-to-transform-fly-in-fly-out-karratha-in-the-pilbara-into-a-city/2011111652398" target="_blank">cost of the planned transformation of the Western Australian mining town Karratha</a>, in the Pilbara, into a city of 50,000 residents. Mirvac has been awarded preferred tenderer status. </div>
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The 7 must-know numbers of the week

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The auction at 12/29B  Hampden Road, Armadale sums up the current market sentiment of cautious buying. The property failed to attract a bid and was passed in on a vendor bid of $560,000. However, soon after the auction multiple buyers came out of the woodwork to declare their interest and the property was sold late on Saturday afternoon for $620,000.

<img src="/images/stories/hampden.jpg">
Sale price: $620,000
Agent quote: $550,000 to $620,000
% above agent quote: 0%
Bidders: 0
Last sold: November 2008 at $542,000
Growth since last sale:  4.69%
Median growth: 7.92%
Average tip: $622,238
% Correct tips  45.68%
This result indicates a more significant softening in the apartment market and this is creating good buying opportunities for savvy investors who understand the property market in blue-chip locations does not stay on its knees for very long. When the market bounces back in the years to come these properties are more likely to benefit from a greater level of capital growth. 
The average tip for this property was just $2,000 above the sale price, and almost 50% of tippers on <a href="https://www.propertytycoon.com.au/">propertytycoon.com.au </a>added this property to their portfolios.
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Over the last 10 years the Australian population has experienced a "baby bounce", a term coined by well-known demographer Bernard Salt. The baby bounce occurred when generation X stopped partying and playing the field and looked at settling down to start a family.
The older gen X'rs are now in their 40s and when they first left home many of them moved from the middle suburbs where their baby boomer and post-war parents lived into the inner suburbs looking for lifestyle. Loving the lifestyle they purchased their first homes in the area, usually an apartment or little house. As they approached their 30s they began to settle down and started to look for a larger home where they could raise a family.
They had become addicted to the inner-city way of life and wanted this to continue. Many of the inner-eastern suburbs such as Hawthorn, Malvern and Camberwell were dominated by baby boomers and far too expensive for them, so they broadened their search looking for emerging inner-city enclaves.
Fairfield and the surrounding suburbs was one of the areas that had both the size of land they needed into the future while also allowing them to maintain their inner-city lifestyle.
Demand from young gen Xers who were taking the next steps in their careers and beginning to hit their incoming earning straps began to skyrocket in areas that has these characteristics and as a result capital growth took off. Fairfield is a great example of this trend where at the end of 2005 the median house price was $476,250 and by the end of 2010 it had climbed to $889,000, a massive 13.30% growth each year.
Although 71 Perry St Fairfield is unlikely to achieve that level of growth since its last sale it certainly does tick the boxes for the characteristics that these gen Xers are looking for.
<a href="https://www.realestateview.com.au/Real-Estate/71-perry-street-fairfield/Property-Details-buy-residential-3244599_S" target="_blank">71 Perry Street, Fairfield</a>
<img src="/images/stories/perryst.jpg">
Agent: Nelson Alexander
Quote: $1.1 million to $1.2 million
Last Sold: November 2003
Price: $697,000
Suburb median: $889,000
Five-year median growth: 13.3%
There's now a website, <a href="https://www.propertytycoon.com.au/" target="_blank" style="font-size: 14px; text-align: left;">www.propertytycoon.com.au</a>, where Melburnians can guess auction results, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
If you think you know what it will sell for place a tip at <a href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon</a>.
 
 
 
 
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Weekend auction tipping

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8/174 Esplanade East, Port Melbourne, VIC, 3207
<img src="/images/stories/esplanadeeast.jpg"> 
This one-bedroom apartment with a car space in Port Melbourne is one block away from the bay and within walking distance of Port Melbourne's shops and attractions. It is currently owner-occupied but could prove appealing for tenants. <a href="https://www.hockingstuart.com.au/" title="Hocking Stuar" target="_blank">Hocking Stuart</a> agent Jason Holod estimates that the property would rent for $400 per week, and it has price hopes of $390,000 plus. If it sells for $390,000 and is rented at $400 per week, that would be a gross rental yield of 5.3%, far higher than the indicative gross rental yield for Port Melbourne units of 4.3%, 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 property will go to auction on Saturday, September 24 at 11.30am.
For more about indicative gross rental yields and prices in Port Melbourne, see the RP Data suburb page.
For other investment prospects going to auction this weekend, see pages 2 and 3.
 
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17/93-103 Euston Road, Alexandria, NSW, 2015
<img src="/images/stories/euston.jpg"> 
This dual-level townhouse-style apartment could appeal to tenants, as it is within walking distance of St Peters and Erskineville train stations. The two-bedroom, two-bathroom unit comes with a car parking space, and it is close to King Street and Erskineville village. <a href="https://www.sydneyboutique.com.au/pol/property/search.asp?f_PropertyID=1765181&amp;f_AgentID=4331&amp;xsl=4331&amp;f_st=1" title="Sydney Boutique Property" target="_blank">Sydney Boutique Property</a> agent Tom Scarpignato has completed a rental analysis of the property and estimates it would secure about $600 per week in rent. The property has $600,000 plus hopes. If it sells at that price a $600-per-week rent would secure an investor a gross rental yield of 5.2%. The indicative gross rental yield for units in Alexandria is 6%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property will go to auction on Saturday, September 24 at 1.45pm. 
For more about indicative gross rental yields and prices in Alexandria, see the RP Data suburb page.
 
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14/239 Canterbury Road, St Kilda, VIC, 3182
<img src="/images/stories/canterburyroad.jpg"> 
This studio apartment in fashionable St Kilda West comes with its own car park and is seconds away from a tram stop serving two lines. The property is currently tenanted, and the tenants are keen to stay. Similar properties in the area rent for about $290 per week. <a target="_blank" title="Hocking Stuart" href="https://www.hockingstuart.com.au/">Hocking Stuart</a> agent Simon Graf is marketing the property with price hopes of $240,000 plus. If it sells for $240,000 and is rented for $290 per week, that would secure an investor a gross rental yield of 6.3%, well above the indicative gross rental yield for St Kilda West units of 3.8%. 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 property will go to auction on Saturday, September 24 at 11am. 
For more about indicative gross rental yields and prices in St Kilda West, see the <a target="_blank" href="/news">RP Data suburb page</a>.
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Friday Form Guide: Yields of up to 5.3% in Port Melbourne

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<a href="https://www.propertyobserver.com.au/auctions/buy-someone-else-s-sleepless-overcapitalised-dream-the-renovators-maxim/2011101351913" target="_parent"><img style="border-style: initial; border-color: initial;" src="/images/stories/3number.jpg"></a>
 The <a href="https://www.propertyobserver.com.au/auctions/buy-someone-else-s-sleepless-overcapitalised-dream-the-renovators-maxim/2011101351913" target="_blank">number of properties (out of six) on Channel Ten show The Renovators that sold for a loss at auction</a>. The six houses were bought by the series producers for a $3.6 million total between December 2010 and March this year. They recouped at auction $4.14 million, a 15% gain. They were honest, but perhaps not typical, when they added the $120,000 stamp duty cost. They also had a declared renovation budget totalling at least $740,000, all with seven-year home owners’ warranty insurance.
For more on reality TV shows like The Renovators, <a target="_blank" href="https://register.propertyobserver.com.au/lights-camera-auction/">download our free e-book Lights, Camera, Auction!</a>
 
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<a href="https://www.propertyobserver.com.au/residential/poor-outlook-for-tasmanian-housing-market-westpac/2011100951845" target="_blank"><img src="/images/stories/2percent.jpg"></a>
The<a href="https://www.propertyobserver.com.au/residential/poor-outlook-for-tasmanian-housing-market-westpac/2011100951845" target="_blank"> annual economic growth in Tasmania</a>, according to the latest Westpac report. It is the slowest annual economic growth of any state, and experts say the outlook for the Tasmanian housing market is poor.  “Consumer spending all but stalled over the first half of the year. Only South Australia saw a weaker outcome. The consumer spending strike is against the backdrop of labour market weakness, with total employment contracting by almost 1% in the four months to August,” the report says.
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<a target="_blank" href="https://www.propertyobserver.com.au/auctions/court-ordered-no-reserve-brisbane-auction-a-success/2011100951851"><img src="/images/stories/525k.jpg"></a>
The price paid for a house at <a target="_blank" href="https://www.propertyobserver.com.au/auctions/court-ordered-no-reserve-brisbane-auction-a-success/2011100951851">a Brisbane no-reserve auction</a>, which is in line with the Brisbane market for comparable property. The Family Court had suggested a no-reserve auction in order to finally sell the property and settle a court matter.
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<a target="_blank" href="https://www.propertyobserver.com.au/economy/two-rate-cuts-in-next-six-months-anz/2011101051852"><img src="/images/stories/2n.jpg"></a>
The number of <a target="_blank" href="https://www.propertyobserver.com.au/economy/two-rate-cuts-in-next-six-months-anz/2011101051852">rate cuts ANZ is predicting in the next six months.</a> “Whilst the timing is usual, highly uncertain, out best estimate at the moment is for a 25bps cut in November, followed by a further 25bps cut in February,” the bank says.
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/housing-prices-to-increase-by-about-20-in-perth-and-sydney-by-2014-qbe-lmi-report/2011101151878"><img src="/images/stories/20percent.jpg"></a>
 
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/housing-prices-to-increase-by-about-20-in-perth-and-sydney-by-2014-qbe-lmi-report/2011101151878">house price growth predicted for Perth by 2014</a>, according to QBE Lenders’ Mortgage Insurance housing outlook report researched by BIS Shrapnel. Sydney prices are expected to increase by 19% during the same period, though Melbourne is set to have the lowest median house growth, at just 6% in the next three years.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/no-rush-yet-for-sydneysiders-to-move-to-the-sticks-despite-%247000-government-carrot/2011101151892"><img src="/images/stories/49.jpg"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/no-rush-yet-for-sydneysiders-to-move-to-the-sticks-despite-%247000-government-carrot/2011101151892">number of families who have signed up to quit Sydney for the sticks</a> under the NSW government’s scheme to encourage relocation from urban to regional areas. The government is offering a $7,000 carrot to encourage relocation, but the scheme has not been popular so far. The low numbers have cast doubt over the estimated 7,000 annual take-up, but a government spokesman says it is too early in the four-year scheme for any meaningful figures to be produced.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/unit-rents-approach-house-rents-in-most-capitals/2011101251906"><img src="/images/stories/10dollars.jpg"></a>
The difference between <a target="_blank" href="https://www.propertyobserver.com.au/residential/unit-rents-approach-house-rents-in-most-capitals/2011101251906">median weekly asking rent for houses and for units in Melboure</a>, according to Australian Property Monitors. Weekly asking rent for units is closing in on that for houses, APM says.
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There's now a website, <a href="https://www.propertytycoon.com.au" target="_blank">www.propertytycoon.com.au</a>, where Melburnians can guess auction results, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
Auction numbers will peak this weekend at 880. This is an increase of 30% from last weekend and up by a massive 50% from two weeks ago.

This is a predictable trend as most vendors don't want to run a sale campaign over the Melbourne Cup weekend. We see a similar increase in auction numbers leading up to long weekends, Easter and AFL grand final.

For tippers and buyers however these weekends often result in a softer market and better buying opportunities. This is because buyers are spread out more thinly across a larger number of competing properties.
One of the five properties featured this weekend is:
<img src="/images/stories/napierst.jpg">
<a href="https://www.realestateview.com.au/Real-Estate/168-napier-street-south-melbourne/Property-Details-buy-residential-3135469_S" target="_blank">168 Napier Street, South Melbourne </a>
Agent: Hocking Stuart - Michael Coen
Quote: $1.3 million to$1.35 million
Last sold: June 1994
Price: $300,000
Suburb median: $962,500
Five-year median growth: 9.62% 
Located close to Albert Park Lake and the South Melbourne Market, this tightly held property has not been sold for almost 20 years. A sale price on Saturday of  $1.35 million will mean the property has been growing at a rate similar to the suburb median over the last five years. This level of growth will mean the property has been growing by about 1% more per year than the Melbourne median over the same time frame.  
If you think you know what it will sell for place a tip at <a href="https://www.propertytycoon.com.au" target="_blank">Property Tycoon</a>.
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<a href="https://www.propertyobserver.com.au/news/bank-s-blacklist-bans-finance-for-373-buildings/2011091251504" target="_blank"><img src="/images/stories/373.jpg"></a>
The number of residential buildings on a <a href="https://www.propertyobserver.com.au/news/bank-s-blacklist-bans-finance-for-373-buildings/2011091251504" target="_blank">"blacklist" kept by an unnamed major bank.</a> The bank refuses to lend on buildings on the list, including some on the National Rental Affordability Scheme.
 
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<a target="_blank" href="/news"><img src="/images/stories/1point4.jpg"></a>
The amount by which<a target="_blank" href="/news"> owner-occupier mortgages rose in July</a>, according to the ABS. This is the fourth straight month that owner-occupier mortgages have risen.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/renovating/diy-price-estimates-for-the-renovators-six-offerings/2011091351521"><img src="/images/stories/6.jpg"></a>
 
The number of houses renovated in the Channel 9 series The Renovators. <a target="_blank" href="https://www.propertyobserver.com.au/renovating/diy-price-estimates-for-the-renovators-six-offerings/2011091351521">The six will go to auction in late September</a>, but their agents will not provide price estimates.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/developments/buyers-say-good-morning-to-breakfast-point-development/2011091351518"><img src="/images/stories/34.jpg"></a>
 
The number of apartments in the <a target="_blank" href="https://www.propertyobserver.com.au/developments/buyers-say-good-morning-to-breakfast-point-development/2011091351518">Endeavour project in Breakfast Point</a> buyers have bought off the plan. There are a total of 45 units planned for the building.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/rural/hunter-valley-vineyard-a-golden-opportunity-for-chinese-buyers/2011091351525"><img src="/images/stories/2point8m.jpg"></a>
 
The price a <a target="_blank" href="https://www.propertyobserver.com.au/rural/hunter-valley-vineyard-a-golden-opportunity-for-chinese-buyers/2011091351525">Chinese investor paid for the Golden Grape Estate winery</a> in the Hunter Region of NSW.
 
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<img src="/images/stories/40300.jpg">
The number of subscribers to Choice's One Big Switch initiative who have been kept waiting for more than a month for any information about refinancing their mortgages. One Big Swich, founded by former Rudd PR spinner Lachlan Harris, is designed to offer borrowers options for less expensive home loans.
 
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<a href="https://www.propertyobserver.com.au/news/quote-of-the-week/2011091551570" target="_blank"><img src="/images/stories/176k.jpg"></a>
 
The deposit from a tenant of Donald Trump's 40 Wall Street, New York office building. <a href="https://www.propertyobserver.com.au/news/quote-of-the-week/2011091551570" target="_blank">The tenant will pay The Donald in three pure gold bars</a>, as Trump uses the opportunity to slam President Barack Obama over the state of the US economy.
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<a href="https://www.propertyobserver.com.au/residential/auction-buyer-ordered-to-pay-%24350000-shortfall-after-failing-to-settle/2011090551415" target="_blank"><img src="/images/stories/350k.jpg"></a>
The shortfall that the winning bidder at a Sydney auction <a href="https://www.propertyobserver.com.au/residential/auction-buyer-ordered-to-pay-%24350000-shortfall-after-failing-to-settle/2011090551415" title="Bidder forced to pay" target="_blank">had to pay when she reneged on the contract</a>. Lily Maria Gubbay was ordered to pay the difference between her winning bid and what the property sold for three months later. 
 
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<a href="https://www.propertyobserver.com.au/land/land-tax-by-the-numbers-what-investors-must-know/2011090451408" title="Land tax" target="_blank"><img src="/images/stories/600k.jpg"></a>
 
The threshold for <a href="https://www.propertyobserver.com.au/land/land-tax-by-the-numbers-what-investors-must-know/2011090451408" title="Land tax" target="_blank">land tax in Queensland</a>, the state with the highest land tax threshold. 
 
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<a href="https://www.propertyobserver.com.au/residential/gary-ablett-buys-on-gold-coast/2011090251405" title="Gary Ablett" target="_blank"><img src="/images/stories/2m.jpg"></a>
The cost of <a href="https://www.propertyobserver.com.au/residential/gary-ablett-buys-on-gold-coast/2011090251405" title="Gary Ablett" target="_blank">Gary Ablett's new home on the Gold Coast.</a> It is 10 kilometres from the Gold Coast Suns’ oval, Metricon Stadium. Ablett was apparently introduced to the property by the McGrath Estate Agent group.
 
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<a href="https://www.propertyobserver.com.au/retail/sydney-damelian-car-dealer-in-receivership-two-weeks-after-failing-to-sell/2011090551427" title="Damelian car yards" target="_blank"><img src="/images/stories/1978.jpg"></a>
 
The year Rick Damelian founded Damelian Automobile car dealership in Sydney. <a href="https://www.propertyobserver.com.au/retail/sydney-damelian-car-dealer-in-receivership-two-weeks-after-failing-to-sell/2011090551427" title="Damelian car yards" target="_blank">The dealership went into receivership this week </a>after failing to sell at auction last month.
 
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<a target="_blank" title="NSW budget" href="https://www.propertyobserver.com.au/residential/nsw-to-scrap-stamp-duty-concessions-for-existing-homes-from-2012/2011090651441"><img src="/images/stories/17990dol.jpg"></a>
The exemption that some first-home buyers could miss out on from January 1, 2012, as the N<a target="_blank" title="NSW budget" href="https://www.propertyobserver.com.au/residential/nsw-to-scrap-stamp-duty-concessions-for-existing-homes-from-2012/2011090651441">SW government has decided to scrap first-home buyer concessions for existing homes</a>.
 
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<a target="_blank" title="Queensland castle" href="https://www.propertyobserver.com.au/commercial/queensland-property-offers-chance-to-be-king-of-the-1970s-castle/2011090751466"><img src="/images/stories/100k.jpg"></a>
 
The average yearly income from a <a target="_blank" title="Castle" href="https://www.propertyobserver.com.au/commercial/queensland-property-offers-chance-to-be-king-of-the-1970s-castle/2011090751466">Sunshine Coast castle that is up for sale</a> with price hopes o f between $3 million and $4 million. The castle was built in 1972 by a Scottish expat and is used as a function and event centre, as well as a tourist attraction.
 
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<a target="_self" title="NQR islands in FNQ" href="https://www.propertyobserver.com.au/retail/not-so-perfect-islands-for-sale-in-fnq/2011090751465"><img src="/images/stories/21point5.jpg"></a>
 
The last sale price for Beddara Island, one of a pair of <a target="_blank" title="FNQ islands" href="https://www.propertyobserver.com.au/retail/not-so-perfect-islands-for-sale-in-fnq/2011090751465">cyclone-ravaged islands in far north Queensland that have been listed for sale.</a>
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<a href="https://www.propertyobserver.com.au/auctions/lacklustre-weekend-auctions-but-clicks-suggest-buyers-loom-with-bigger-pockets-after-rba-rate-cut/2011110752233" target="_blank"><img src="/images/stories/357percent.jpg"></a>
The <a href="https://www.propertyobserver.com.au/auctions/lacklustre-weekend-auctions-but-clicks-suggest-buyers-loom-with-bigger-pockets-after-rba-rate-cut/2011110752233" target="_blank">percentage increase in unique page visits to Mortgage Choice's website</a> since the RBA's Melbourne Cup Day rate cut. The activity centred on Mortgage Choice’s <a style="font-size: 14px; text-align: left;" href="https://www.mortgagechoice.com.au/calculators/how-much-can-i-borrow.aspx" target="_blank">‘How much can I afford to borrow’ website calculator</a>.
 
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<a href="https://www.propertyobserver.com.au/rural/chisolm-descendants-list-goulburn-district-property-after-180-years-of-family-ownership/2011110752234" target="_blank"><img src="/images/stories/180.jpg"></a>
 
The number of years the <a href="https://www.propertyobserver.com.au/rural/chisolm-descendants-list-goulburn-district-property-after-180-years-of-family-ownership/2011110752234" target="_blank">Chisholm family have owned South Raeburn</a>, their 632-hectare NSW farm, which they recently listed for sale.  The Breadalbane property has had the single family ownership since colonial settlement. It's been listed for December 15 auction. 
 
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<a href="https://www.propertyobserver.com.au/trends/strong-new-investment-buying-intent-as-most-australians-think-property-will-be-pricier-in-five-years-cua/2011110752247" target="_blank"><img src="/images/stories/58percent.jpg"></a>
 
The <a href="https://www.propertyobserver.com.au/trends/strong-new-investment-buying-intent-as-most-australians-think-property-will-be-pricier-in-five-years-cua/2011110752247" target="_blank">percentage of Australians who think property will be pricier in five years' time</a>, according to the latest CUA survey. Just 18% anticipate property prices will be below current levels in five years’ time.
 
<hr>
 
<a href="https://www.propertyobserver.com.au/residential/actor-toni-collette-and-muso-david-galafassi-fall-for-the-charms-of-contemporary-inner-city-paddington/2011110752250" target="_blank"><img src="/images/stories/6m.jpg"></a>
The approximate price actor <a href="https://www.propertyobserver.com.au/residential/actor-toni-collette-and-muso-david-galafassi-fall-for-the-charms-of-contemporary-inner-city-paddington/2011110752250" target="_blank">Toni Collette and her musician husband, David Galafassi, spent on a double-fronted Paddington terrace</a>. The five-bedroom house will replace their hillside house at Bronte, <a style="font-size: 14px; text-align: left;" href="https://www.propertyobserver.com.au/new-south-wales/toni-collette-set-to-cop-%24900000-loss-as-bronte-cottage-renovation-plans-shelved/2011110752228" target="_blank">on which the renovation rebuild costings defied property logic and has prompted its listing</a>.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/auctions/land-prices-find-their-footing-on-mona-vale-beachfront/2011110852255"><img src="/images/stories/3point28.jpg"></a>
 
The price achieved for a<a target="_blank" href="https://www.propertyobserver.com.au/auctions/land-prices-find-their-footing-on-mona-vale-beachfront/2011110852255"> not-quite-knockdown five-bedroom Mona Vale beachfront house</a>. Just a few doors along,<a href="https://www.propertyobserver.com.au/new-south-wales/max-delmege-s-sydney-northern-beaches-property-finally-gets-over-the-line/2011102652087" target="_blank" style="font-size: 14px; text-align: left;"> the resort-like Mona Vale beachfront residence of the veteran property developer Max Delmege and his wife, Narelle, sold earlier this month for a reputed $3.5 million</a>. Peninsula rumours suggest it may have been a tad less, but there’s no confirmation from the selling agents. The $3.28 million listing reflected $4,059 per square metre, compared with the Delmege sale at $4,022 per square metre.
 
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<a href="https://www.propertyobserver.com.au/retail/one-million-weekly-london-shoppers-buoy-westfield/2011110852254" target="_blank"><img src="/images/stories/1m.jpg"></a>
The <a href="https://www.propertyobserver.com.au/retail/one-million-weekly-london-shoppers-buoy-westfield/2011110852254" target="_blank">number of shoppers who visited Westfield's new Stratford City store in its opening week</a>. Noting its global portfolio was performing strongly and sales of its non-core US malls were progressing, Wesfield has reaffirmed its forecast for a distribution per security of 48.4¢ and operational segment earnings of 74.6¢ per security.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/trends/mortgage-holder-confidence-soars-following-november-rate-cut-westpac/2011110952274"><img src="/images/stories/13point6.jpg"></a>
The percentage by which <a target="_blank" href="https://www.propertyobserver.com.au/trends/mortgage-holder-confidence-soars-following-november-rate-cut-westpac/2011110952274">confidence among mortgage holders increased</a> following the RBA's Melbourne Cup Day rate cut, according to the Westpac Melbourne Institute Index of Consumer Sentiment, which improved in November. 
 
 
 
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<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

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

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Cassidy Knowlton

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