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There were 845 sales in Perth this week, and 38 of them were in the northern Perth suburb of Highgate, according to the Real Estate Institute of Western Australia. There were 779 sales the same week last year and just 526 the same week last year. 
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Perth records 845 sales this week, with Highgate most actively traded suburb: REIWA

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<div>As Property Observer celebrates its first anniversary, we look back on some of the biggest numbers that made property news in the past year.</div>
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<div><a href="https://www.propertyobserver.com.au/south-australia/adelaide-mistakenly-overlooked-by-investors-as-projects-get-under-way-terry-ryder/2012041154211" target="_blank"><img src="/images/stories/50b.gif"></a></div>
<div>The approximate value of mining projects <a href="https://www.propertyobserver.com.au/south-australia/adelaide-mistakenly-overlooked-by-investors-as-projects-get-under-way-terry-ryder/2012041154211" target="_blank">currently under way in South Australia</a>, according to Hotspotting.com.au director Terry Ryder. Ryder says the state is Australia's most under-rated economy and could be a good prospect for investors.</div>
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<div><a title="Melbourne office sales" href="https://www.propertyobserver.com.au/news/melbourne-office-sales-to-reach-%242-billion-in-2011-colliers/2011072750932" target="_self"><img src="/images/stories/2bill.jpg"></a></div>
<div>The <a title="Melbourne office sales to reach $2 billion" href="https://www.propertyobserver.com.au/news/melbourne-office-sales-to-reach-%242-billion-in-2011-colliers/2011072750932" target="_blank">sales volume expected for Melbourne offices in 2011</a>, according to Colliers. “The reasons for Melbourne being the hottest office market in Australia will not change overnight. The fundamentals of our economy are very healthy and the medium-term forecast for office rental growth in the CBD is very strong,” says Nick Rathgeber, director of institutional investment services at Colliers.</div>
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<div><a href="https://www.propertyobserver.com.au/residential/leonardo-dicaprio-gets-his-sydney-tennis-court-for-gatsby-shoot/2011083151370" target="_blank"><img src="/images/stories/10k.jpg"></a></div>
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<div>The amount per week actor <a title="Leonardo DiCaprio" href="https://www.propertyobserver.com.au/residential/leonardo-dicaprio-gets-his-sydney-tennis-court-for-gatsby-shoot/2011083151370" target="_blank">Leonardo DiCaprio paid per week to rent a property in Vaucluse </a>while he filmed the titular role in Baz Luhrmann's adaptation of The Great Gatsby in Sydney.</div>
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<div><a href="https://www.propertyobserver.com.au/residential/chinese-appetite-for-gold-coast-property-soars-to-record-highs-in-2010-11-colliers/2012012353056" target="_blank"><img src="/images/stories/66point9.jpg"></a></div>
<div>The amount of money that <a href="https://www.propertyobserver.com.au/residential/chinese-appetite-for-gold-coast-property-soars-to-record-highs-in-2010-11-colliers/2012012353056" target="_blank">offshore Chinese buyers spent on Gold Coast property during the 2010-11 financial year</a>. Chinese buyers accounted for nearly a third of foreign purchases of Queensland residential real estate during the 2010-11 financial year</div>
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<div><a href="https://www.propertyobserver.com.au/residential/incredible-prediction-of-australian-property-bloodbath-excites-twitter/2012012053102" target="_self"><img src="/images/stories/60.jpg"></a></div>
<div>The amount by which American<a href="https://www.propertyobserver.com.au/residential/incredible-prediction-of-australian-property-bloodbath-excites-twitter/2012012053102" target="_blank"> self-described "real estate expert" Jordan Wirsz predicts Australian house prices will fall</a> in the next five years. Prominent property doom commentator Steve Keen expressed ironic relief via Twitter that another analyst has forecast even worse tidings than his longstanding forecast for the Australian property market.</div>
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<div><a href="https://www.propertyobserver.com.au/residential/harry-triguboffs-six-steps-to-apartment-affordability-%E2%80%93-starting-with-more-high-rise/2012041754326" target="_blank"><img src="/images/stories/12.gif"></a></div>
<div>The minimum number of stories a new development in inner Melbourne or Sydney should have, <a href="https://www.propertyobserver.com.au/residential/harry-triguboffs-six-steps-to-apartment-affordability-%E2%80%93-starting-with-more-high-rise/2012041754326" target="_blank">according to Meriton boss Harry Triguboff</a>. "In inner-city areas we need to recognise that five-to six-storey apartments are uneconomical," Triguboff says.</div>
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<div><a href="https://www.propertyobserver.com.au/residential/melbourne-housing-market-on-the-wrong-side-of-the-ledger-residex-boss-john-edwards/2012041954363" target="_blank"><img src="/images/stories/70percent.gif"></a></div>
<div>The<a href="https://www.propertyobserver.com.au/residential/melbourne-housing-market-on-the-wrong-side-of-the-ledger-residex-boss-john-edwards/2012041954363" target="_blank"> amount of overhang of stock in Melbourne</a>, the largest stock overhang of any capital in Australia, according to Residex boss John Edwards. “I’m worried about Victoria,” he says.</div>
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<div>The number of consecutive months house prices have fallen to May, according to the ABS. "The odds are that the rate of decline will accelerate in the next year," <a href="https://www.propertyobserver.com.au/residential/abs-figures-show-australia-s-housing-price-bubble-is-bursting-steve-keen/2012050254514" target="_blank">says economist Steve Keen</a>, who sees the ABS figures as a sign that Australia's housing bubble is bursting.</div>
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<div><a href="https://www.propertyobserver.com.au/economy/federal-budget2012-tax-breaks-for-green-buildings-dumped/2012050854605" target="_blank"><img src="/images/stories/405m.gif"></a></div>
<div>The amount of money the federal government will save in the next four years by <a href="https://www.propertyobserver.com.au/economy/federal-budget2012-tax-breaks-for-green-buildings-dumped/2012050854605" target="_blank">axing green buildings tax breaks </a>in the federal budget. The scheme had never come into effect, being shut down before it began.</div>
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<div><a href="https://www.propertyobserver.com.au/new-south-wales/1st-fleet-s-stephen-brown-owns-just-one-thousandth-of-his-%2416-million-harbourfront-watson-bay-property-listing/2012051354676" target="_blank"><img src="/images/stories/1over1000.gif"></a></div>
<div>The amount of equity that <a href="https://www.propertyobserver.com.au/new-south-wales/1st-fleet-s-stephen-brown-owns-just-one-thousandth-of-his-%2416-million-harbourfront-watson-bay-property-listing/2012051354676" target="_blank">1st Fleet boss Stephen Brown has in his Sydney Harbour home</a>, which is on the market with $16 million price hopes. His wife, Corrine, holding the remaining 999/1,000 equity.</div>
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<div><a href="https://www.propertyobserver.com.au/industry-news/rolls-royce-lifestyle-over-for-refund-founder-wayne-ormond-as-creditors-to-investigate-if-company-traded-insolvent/2012052354812" target="_self"><img src="/images/stories/3.gif"></a></div>
<div>The number of <a href="https://www.propertyobserver.com.au/industry-news/rolls-royce-lifestyle-over-for-refund-founder-wayne-ormond-as-creditors-to-investigate-if-company-traded-insolvent/2012052354812" target="_blank">Rolls-Royces that Refund Home Loans founder Wayne Ormond owned in the past</a>. He says they have all been disposed of or repossessed.</div>
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<div><a href="https://www.propertyobserver.com.au/developments/lend-leases-docklands-project-forte-will-be-worlds-tallest-residential-timber-building/2012052554840" target="_blank"><img src="/images/stories/2012/05/10.gif"></a></div>
<div>The number of storeys <a href="https://www.propertyobserver.com.au/developments/lend-leases-docklands-project-forte-will-be-worlds-tallest-residential-timber-building/2012052554840" target="_blank">planned for Lend Lease development Forté</a>. It will be the world's tallest timber residential building. The building will rise to 32 metres and will be built with prefabricated wooden panels made from cross-laminated timber (CLT) and will feature 23 apartments.</div>
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The 12 must-know property numbers of the last financial year

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24 Kamilaroi Road, Gunnedah, NSW, 2380
<img src="/images/stories/2012/06/kamilaroi.jpg" width="470">
This could be a two-in one investment, with two two-bedroom units on one title. They are both recently renovated and are rented out for $200 each. The tenants are on month-to-month leases, and Gunnedah First National agent Mike Brady says they could return $240 per week. The property is close to downtown Gunnedah, and both units include their own carports. 
Brady<a target="_blank" href="https://www.firstnational.com.au/?pageCall=property&amp;propertyID=2068000&amp;realestate=24_Kamilaroi_Road_GUNNEDAH_NSW_2380"> is marketing the property</a> with price hopes of $360,000 plus, and if it sells for $360,000 that would secure an investor a gross rental yield of 5.8% at its current rental, below the gross indicative yield of 6.3% for Gunnedah units, according to RP Data. If both units were rented at $240, that would secure an investor a gross rental yield of 6.9% The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median unit price in Gunnedah fell 2.9% in the past year, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $9,000.
The property will be open for inspection Saturday, June 9 at 10am and will go to auction Thursday, July 12 at 4pm.
For more about prices and yields in Gunnedah, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
 
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2 Tattler Court, Point Cook, VIC, 3030
<img width="470" src="/images/stories/2012/06/tattler.jpg">
The tenants of this four-bedroom Poink Cook house are paying $320 per week and are on a lease until April 2013. The property is close to Sanctuary Lakes Shopping Centre, schools, parks and public transport and is at the end of a quiet cul-de-sac. 
Little Residential agent Mark Clayton <a target="_blank" href="https://www.littleresidential.com.au/Buying/Search/Detail.aspx?id=JWI3509&amp;wlid=1d98757c-1181-4cb5-ad8a-b521af2d38dd">is marketing the property</a> with price hopes of $370,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.8%. This is significantly above the indicative gross rental yield for Point Cook houses of 4.2%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $10,000 and over five years to be $31,000.
The property will be open for inspection Saturday, June 9 at 10am and will go to auction Saturday, June 16 at 11.30am.
For more information about prices and yields in <a target="_blank" href="/news">Point Cook, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 6.9% in Gunnedah

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Sixteen months in the planning, Ultimo project Trieste is the latest inner-city apartment block to hit the market, possibly just in time for last-minute purchasers to buy a property under $600,000 before the government’s stamp duty exemption ends on July 30.
<img src="/images/stories/2012/06/trieste1.jpg">
The eight-storey, 124-apartment complex will include a mix of one-, two- and three-bedroom apartments, with one-bedroom units starting from $455,000. Under the <a href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863" target="_blank">NSW government’s home builders’ bonus</a>, buyers will pay no stamp duty on properties purchased before June 30 this year. It is open to owner-occupiers and investors.
<img width="470" src="/images/stories/2012/06/trieste2.jpg">
The development will launch to VIPs the weekend of June 16 and is within walking distance of Chinatown, Sydney CBD and Darling Harbour. Developer EDG Capital is encouraging residents to walk or bike, as the development will have just 35 car spaces.
<img src="/images/stories/2012/06/trieste3.jpg">
The project is being marketed by Savills agents Nigel Napoli and Peter Coulton.
<img src="/images/stories/2012/06/trieste4.jpg">
Savills expects that buyers will embrace its new project, even though those at the more affordable end of the market will have just a few weeks to make up their minds in order to secure the government’s bonus.
<img src="/images/stories/2012/06/trieste5.jpg">
“The project team has spent the past 12 months meticulously planning every detail of the building and interiors to ensure that Trieste is truly a world-class project,” says Coulton. “We are excited about the upcoming launch and with the level of demand for this location.
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“Trieste is set to be our most successful launch this year.”
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Many of the larger apartments will have “postcard views” of Sydney CBD, Savills says.
<img src="/images/stories/2012/06/trieste8.jpg">
The developer bought the 1,515-square-metre site, which included a commercial building, in early 2011 for $16.75 million.
The project has been designed by Candalepas Associates to allow for maximum light and air flow and to capitalise on “postcard views of Sydney CBD”.
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Ultimo project Trieste could appeal to sub-$600,000 buyers before June 30 government grant deadline

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As time runs out for property buyers to secure NSW state government incentives, some developers are bringing their projects forward – and others even beginning marketing before they have development application approval from the local council.
Moorgate Property’s Rockpool (pictured below), which is on the former Prince Henry Hospital site in the Sydney suburb of Little Bay Cove, is one such project that's hit the market this month.
<img src="/images/stories/2012/06/rockpool1.jpg">
NG Farah agent Peter Goulding told Property Observer Rockpool was due to launch later this year but the development was brought forward so buyers could take advantage of the <a href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863" target="_blank">NSW government’s home builders’ bonus</a>, which exempts buyers from stamp duty on new properties under $600,000. The exemption is open to all buyers, both owner-occupiers and investors.
About 60% of the 73 units in the building will be under this threshold.
<img src="/images/stories/2012/06/rockpool3.jpg">
“The building has been engineered to provide a large volume of lower priced product, for the market place to obtain the full benefit of the government stamp duty concessions which expire on the 30th June 2012,” says NG Farah agent Dennis Vertzayias.
<img src="/images/stories/2012/06/rockpool4.jpg">
Rockpool will comprise one- and two-bedroom apartments. One-bedroom apartments start from $465,000, and one-bedroom apartments with studies start from $475,000. The two-bedroom offerings start from $579,000, with $650,000 the starting price for two-bedroom units with studies. 


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<img src="/images/stories/2012/06/rockpool5.jpg">
“This will allow first-home buyers, astute investors, and even second-home buyers the opportunity for affordable housing in a brand-new development in one of Sydney’s most rapidly developing locations, so close to the city centre,” says Vertzayias.
<img src="/images/stories/2012/06/rockpool6.jpg">
Goulding says the building has been approved under the master plan for the Prince Henry Hospital site, but it has not secured final development approval from Randwick Council. He says the developer expects approval in September or October this year.
The original hospital that sat on the 85-hectare site dates back to the 1880, and by the time the renamed Prince Henry Hospital was decommissioned in 2001, it had sprawled out to 60 buildings. The NSW government and developer Stockland announced a plan to transform the site into a $400 million development in 2004. The community is now home to more than 600 households.
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Another project brought to market before receiving development approval is Harbour Mill (pictured above and below), to be built on the former Edwin Davey Flour Mill site in Pyrmont.
<img src="/images/stories/2012/05/harbourmill1.jpg">
Developer Ceerose bought the 3,100-square-metre site last year, but the sale is yet to officially settle, according to a land title search. The previous developer Mike Boulos, who had intended to build a seven-storey mixed-use development on the site, never had his plans came to fruition. Boulos had bought the site in 1996 for $3.38 million.
Sydney City Council was pleased at Ceerose’s competition to find a design for the long dormant, but high profile site. The winning design by Grimshaw Architects - which includes much of the heritage façade of the former flour mill - has not yet officially been approved. The DA is before the council now, and approval is expected later this month.
Another Sydney development that has been marketed without receiving the final sign-off from council is Oceania Property’s Bay Residences (pictured below). Oceania bought the Double Bay site for $20.5 million in January 2011, with the site having previously traded at $15 million in 2007.
<img src="/images/stories/bayresidences.jpg">
It had planned to build a luxury development of just eight units and secured approval from Woollahra Council for the project, but failed to generate any interest from buyers. The developer went back to the drawing board and reconfigured the project into 21 smaller one- and two-bedroom units, lodging a section 96 alteration application with the council. The 21-unit Bay Residences has been brought to market, but council approval is still pending.
“The councillors and council staff I’ve spoken to are very supportive of the changes because it will mean more residents will now be able to live in Double Bay,” says Nico Wijarto Tjen, a director of Oceania Property, “and the new apartment mix will also mean younger residents.”
<img width="470" src="/images/stories/2012/06/haroldpark.jpg">
Developer Mirvac is yet to receive final greenlight from Sydney City Council for its Harold Park development in Glebe (pictured above), but is expectant of doing so shortly.
The City of Sydney set out a prescriptive local environment plan (LEP) for the site following detailed consultations, and Mirvac has signed a voluntary planning agreement with the council for Harold Park.
Mirvac began marketing of Harold Park late last year prior to obtaining final development consent in the confidence that its plans were fully compliant with the Harold Park LEP which establishes the parameters for permissible height and density. The LEP has been approved and gazetted by the NSW Government.
The NSW Government rezoned Harold Park from open space to mixed use residential late last year paving the way for Mirvac to progress its Stage 1 development application which is the masterplan DA.
Marketing of Stage 1, consisting of 296 apartments and terraces, began in late 2011 as Mirvac was aware of a pent-up demand for its apartments and terraces.
"The enthusiastic response to the launch in November and subsequent sales have exceeded all our expectations," a spokesman said.
As part of the agreement, Mirvac is dedicating 3.8 hectares (or 35% of the site) to public parkland and will contribute $8.25 million to public open space. The developer will also hand over 1,000 square metres to the City of Sydney to accommodate affordable and seniors’ housing.
Mirvac hopes to start work on the site in August, but that is contingent upon receiving Sydney City Council approval in the interim.
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Sydney developers in bigger rush than buyers as projects come to market without final DA as June 30 deadline looms

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North Fitzroy development Graphite is more than half-sold three weeks after it launched in mid-May as first-home buyers secure apartments for under $600,000 before the Victorian government’s first-home buyer bonus ends on June 30.
<img src="/images/stories/2012/06/graphite1.jpg">
<a target="_blank" href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">The bonus provides $13,000</a> – in addition to the federal government’s $7,000 – for first-home buyers who purchase property under the $600,000 threshold before June 30.
BPM Construction Group’s Graphite will comprise 46 one- and two-bedroom apartments, with prices starting from $359,500 for one-bedrooms and $530,000 for two-bedders. Some 37 are priced below the $600,000 threshold. 
<img src="/images/stories/2012/06/graphite2.jpg">
The colour palette will match its name, with greys and neutral tones used in the external and internal designs.
Interior designer Mim Design director Mim Fanning says the colours and materaials of timber, concrete and metal are designed to complement the Fitzroy North surrounds.
<img src="/images/stories/2012/06/graphite3.jpg">
“Graphite apartments have been planned to create the feeling of being large units – but at the same time they are very compact and fitting for their inner city address,” Fanning says.
“The interior finishes meld the sophistication and lighting of a gallery, the luxury and authenticity of restaurant kitchen and the warm, homely feel of a local café.”
<img src="/images/stories/2012/06/graphite4.jpg">
The median unit price in North Fitzroy is $457,500, according to RP Data, and the median unit price has fallen 23.6% in the past year.
In keeping with the green recent trend towards sustainable transport, all of the apartments in Graphite will come with bike parking spaces, though only some will have car spaces.
Construction is due to begin in early 2013 and be completed in mid-2014.
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North Fitzroy development Graphite appeals to first-home buyers as government bonus deadline looms

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SQM Research has expanded its normal list of the most discounted homes in Australia from 10 to 20, demonstrating the wide variety of localities where vendors are offering deep discounts in order to secure sales. The majority of the properties on the list are houses, not units, with SQM saying houses are not faring as well on the market and requiring deeper discounts. 
The most discounted property in Australia is 27 Shaws Pocket Road in Cedars Creek, Queensland, and the vendor is now willing to sell the property for $699,000, a 41% discount on its original price hopes. It was last sold in 1996 for $225,000, according to RP Data. 
Coming in at number 20 is 309 Scarborough Beach Road in the Perth suburb of Woodlands. When the property came on the market in early 2010 the vendor had hoped for $1.1 million but is now willing to settle for $750,000, a 32% price reduction. 
The property at 1302 Birkdale Place in Magenta, on the NSW central coast, has been on the market for the longest, at 1,432 days, or almost four years. Vendors of 47a Burns Crescent in the Sydney suburb of Chiswick have been the quickest to offer a deep discount, as the property has only been on the market for 77 days and has had its price hopes reduced by 35%. 
"As you can see, there is a wide range of properties from various locations, with Victoria and the ACT being the only state and territory with no homes on this week's list," says SQM director Louis Christopher.
"What sticks out on this list and many of our other themed top 10 is that the majority of massively discounted properties are houses, rather than units. It does seem that in general, houses are faring worse than units at the moment. This could be because units are more affordable and it is easier to assess fair value due to their more standardised attributes." 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">1</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009160249">27 Shaws Pocket Road, Cedar Creek, Queensland, 4207 </a>
On the market since: August 15, 2011
Initial asking price: $1.19 million
Current asking price: $699,000
Reduction: 41%
Days on market: 280
 
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<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106542744">11 Pyrites Road (via Nairne), Brukunga, SA, 5252</a>
On the market since: May 23, 2010
Initial asking price: $253,000
Current asking price: $155,000
Reduction: 39%
Days on market: 727
 
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<h2 style="font-size: 18px; line-height: 21px; text-align: left;">3</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008435199">502 Tarni Court, Port Adelaide, SA, 5015</a> 
On the market since: January 28,2010
Initial asking price: $725,000
Current asking price: $450,000
Reduction: 38%
Days on market: 693
 
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<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105812631">1892 Stapylton Jacobs Well Road, Jacobs Well, Queensland, 4208</a>
On the market since: July 12, 2009
Initial asking price: $515,000
Current asking price: $320,000
Reduction: 38%
Days on market: 1,042
 
 
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<a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488" target="_blank">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
On the market since: January 16, 2011
Initial asking price: $2.95 million
Current asking price: $1.85 million
Reduction: 37%
Days on market: 490
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228" target="_blank">15 Gretel, Two Rocks, WA, 6037</a> (pictured)
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 875
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007736307" target="_blank">26a Paling Street, Thornleigh, NSW, 2120</a>
On the market since: May 16, 2009
Initial asking price: $1.1 million
Current asking price: $700,000
Reduction: 36%
Days on market: 1,099
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,432
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008590367">21 Fox Avenuem White Beach, Tasmania, 7184</a>
On the market since: September 27, 2010
Initial asking price: $170,000
Current asking price: $110,000
Reduction: 35%
Days on market: 603
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105464925">99 Lowanna Way, Armadale, WA, 6112</a>
On the market since: April 1, 2009
Initial asking price: $1.85 million
Current asking price: $1.2 million
Reduction: 35%
Days on market: 1,144
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">11</h2>
<a href="https://www.realestate.com.au/property-house-nsw-chiswick-109782261" target="_blank">47a Burns Crescent, Chiswick, NSW, 2046</a>
On the market since: March 3, 2012
Initial asking price: $3 million
Current asking price: $1.95 million
Reduction: 35%
Days on market: 77
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">12</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009417474" target="_blank">320 Redbank Plains Road, Bellbird Park, Queensland, 4300</a>
On the market since: December 19, 2011
Initial asking price: $1,499,000
Current asking price: $975,000
Reduction: 35%
Days on market: 154
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">13</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106358770" target="_blank">27 Light Avenue, Munno Para West, WA, 5115</a>
On the market since: February 27, 2010
Initial asking price: $482,687
Current asking price: $319,000
Reduction: 34%
Days on market: 812
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">14</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107430484">319 West Coast Drive, Trigg, WA, 6029</a>
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 861
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">15</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106977238" target="_blank">618/ 85 -89 The Entrance Road, The Entrance, NSW, 2261</a>
On the market since: November 13, 2010
Initial asking price: $299,000
Current asking price: $199,000
Reduction: 33%
Days on market: 553
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">16</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D109729176" target="_blank">12 Underwood Street, Wakerley, Queensland, 4154</a>
On the market since: March 3, 2012
Initial asking price: $675,000
Current asking price: $450,000
Reduction: 33%
Days on market: 77
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">17</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D7361321" target="_blank">890 Chinner Road, Lake Bennett, NT, 0822</a>
On the market since: October 29, 2011
Initial asking price: $579,000
Current asking price: $390,000
Reduction: 33%
Days on market: 203
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">18</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008640526" target="_blank">13/30 Gayundah Esplanade, Woody Point, Queensland, 4019</a>
On the market since: October 24, 2010
Initial asking price: $590,000
Current asking price: $399,000
Reduction: 32%
Days on market: 574
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">19</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006781491" target="_blank">22 Beach Street, White Beach, Tasmania, 7184</a>
On the market since: July 1, 2008
Initial asking price: $250,000
Current asking price: $170,000
Reduction: 32%
Days on market: 1,421
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">20</h2>
309 Scarborough Beach Road, Woodlands, WA, 6018
On the market since: February 7, 2010
Initial asking price: $1.1 million
Current asking price: $750,000
Reduction: 32%
Days on market: 832
SQM Research also offers a list of the <a title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php" target="_blank">Top 100 Biggest Bargains in Australia </a>for sale.
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Houses, not units, require most discounting: SQM Research

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The prestige market was somewhat subdued this week, with no sales cracking the $3 million mark, according to RP Data.
A five-bedroom 1930s Kew property that sold prior to auction for $2,836,000 was the top sale of the week. It was marketed by Marshall White agent Walter Dodich, who says it has been “stylishly renovated and updated to accommodate the demands of a contemporary lifestyle”.
The home, on an 1,190-square-metre block, last sold in 1999 for an undisclosed price.  
<img src="/images/stories/2012/06/william.jpg">
The second most expensive sale of the week was the three-bedroom penthouse of the Montage building in Double Bay with harbour views (pictured above). It sold for $2.75 million.
1. 4 Royston Court, Kew, VIC, 3101, five-bedroom house, sold before auction on June 2 by Marshall White Real Estate for $2,836,000
2. 45/51 William Street, Double Bay, NSW, 2028, three-bedroom unit, sold on June 1 by Di Jones Real Estate Woollahra for $2.75 million
3. 92 Morris Street, Williamstown, VIC, 3016, four-bedroom house, sold at auction on June  2 by Williams Real Estate for $2,692,000
4. 687 Park Street, Brunswick, VIC, 3054, five-bedroom house, sold at auction on June 2 by Peter Markovic Real Estate Fitzroy for $2.65 million
5. 14 Bangalla Street, Warrawee, NSW, 2074, six-bedroom house, sold before auction on May 31 by L J Hooker Wahroonga for $2.56 million
6. 19 Yanko Avenue, Bronte, NSW, 2024, five-bedroom house, sold before auction on June 2 by Raine &amp; Horne Double Bay for $2.5 million
7. 86 Stanhope Street, Malvern, VIC, 3144, three-bedroom house, sold at auction on June 2 by R T Edgar Toorak for $2,405,000
8. 46 Burns Crescent, Chiswick, NSW, 2046, four-bedroom house, sold at auction on June 2 by Raine &amp; Horne Concord for $2,401,000
9. 4 Goldsack Street, Glen Osmond, SA, 5064, four-bedroom house, sold at auction on May 30 by Smallacombe Real Estate Burnside for $2.4 million
10. 12 Saywell Street, Chatswood, NSW, 2067, five-bedroom house, sold at auction on June 2 by Shead Property for $2.28 million
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No $3 million sales, with five-bedroom Kew home top sale of the week: RP Data

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G7, 199 Pyrmont Street, Pyrmont, NSW, 2009
<img src="/images/stories/pyrmont1.jpg">
The tenants of this two-bedroom Pyrmont apartment are paying $730 per week and are on a lease until September this year. Within the Casino Gardens building, the apartment includes an internatl laundry, and the building has a swimming pool and gym. It is within easy walking distance of Darling Harbour and the CBD. The property sold to an investor on Friday, June 1, before its scheduled auction on June 2 for $590,000. This secured the investor a gross rental yield of 6.4%, significantly above the indicative gross rental yield for Pyrmont units of 5.1%, 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. Kho and Lee Property Group agent Sami Yildiz gave pre-sale price hopes in the "early $600,000s".
<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 $12,000 and over five years to be $42,000.
The median unit price in Pyrmont fell by 4.3% in the past year, according to RP Data.
For more about prices and yields in Pyrmont, see the RP Data suburb page.
 
<hr class="system-pagebreak">
27 Main Road, Neerim South, VIC, 3831
<img src="/images/stories/neerimsouth.jpg">
An investor bought this three-bedroom house for $224,000 at its weekend auction. The current tenants are friends with the vendors and are paying significantly below-market rent of $170 per week. They are on a lease until December, but listing agent Pauline Soutar of Harcourts says market rent for the house would be about $250 or $260 per week. The house is on a large 1,115-square-metre block and is within walking distance of shops and transport.
The sale price reflects a gross rental yield of 4% at its current rental, or potentially 6% if it is later rented out for $260 per week. 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.
Soutar suggested pre-auction price hopes of $230,000 plus.  
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000.
The median house price in Neerim South fell 11.5% in the past year, according to RP Data.
For more about prices and yields in Neerim South, see the RP Data suburb page.
 
<hr class="system-pagebreak">
 
27 Grace Street, Cabramatta, NSW, 2166
<img src="/images/stories/graceave.jpg">
In the popular Sydney suburb of Cabramatta, this three-bedroom house is on 658 square metres and is close to Cabramatta high school. The $400 a week lease has expired, but LJ Hooker agent Patrick Yeung says the tenant is keen to stay on and that $400 per week is market rent for the area. The property was passed in at an undisclosed price at its weekend auction
Yeung<a target="_blank" href="https://www.ljhooker.com.au/442F8S"> gave pre-auction price hopes of</a> $380,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.5%, well above the indicative gross rental yield of 4.1% for Cabramatta 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.
Yeung recently sold a nearby property for $435,000 that was in much worse condition but in a better location than the Grace Street property. The tenants in that house paid $330 per week. The median asking rent for Cabramatta houses is $380 per week.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $10,000.
For more about prices and yields in <a target="_blank" href="/news">Cabramatta, see the RP Data suburb page</a>.
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Investor form guide wrap: Investor snaps up gross yield of 6.4% in Pyrmont

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About 60% of the apartments in Sekisui House’s development St Tropez have been sold about two months after the development came onto the market in late March.
<img src="/images/stories/2012/06/sttropez4.jpg">
St Tropez is the last and the most prestige development in Sekisui’s The Waterfront project at Wentworth Point, about 16 kilometres from Sydney CBD.
The developer has sold 93 of the 154 one-, two- and three-bedroom apartments thus far. There will be 32 one-bedroom apartments, which will range from 50 to 67 square metres and will start from $425,000. The 91 two-bedroom apartments will start from $575,000 and will range from 78 to 100 square metres. The 31 three-bedroom apartments, which start from $800,000, will be between 111 and 187 square metres.
<img src="/images/stories/2012/06/sttropez2.jpg">
Of those that have sold, 60 are under the <a target="_blank" href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">NSW government's $600,000 threshold for the home builder's bonus</a>, which exempts investors and owner-occupiers from stamp duty on properties under this price point. The bonus expires on July 1. There is just one apartment, a one-bedroom unit, remaining for under $600,000.
<img src="/images/stories/2012/06/sttropez3.jpg">
Wentworth Point is a relatively new suburb, having been officially named in October 2011 and now home to about 5,000 residents. The suburb was formerly part of Homebush Bay and is adjacent to the suburb of Olympic Park. The median sale price for apartments in Wentworth Point is $478,000, and the median price went up 5.1% in the past year, according to RP Data. The median asking rent is $490 per week, and the indicative gross rental yield for Wentworth Point apartments is 5.3%.
<img src="/images/stories/2012/06/sttropez1.jpg">
“The Waterfront has become very well known, with residents in surrounding suburbs and many – even some existing residents within the immediate community - have been waiting for their chance to buy into St Tropez,” says Paul Wainwright, Sekisui house sales and marketing operations.
Wainwright says St Tropez appeals to both owner-occupiers and investors.
“Rental vacancy sits at less than 2% in this area, so interest from investors has always been strong. But buyers looking for the prestige of a waterfront apartment to call home are also making their move. They know this is their last chance,” he says.
Sekisui House is also behind <a href="https://www.propertyobserver.com.au/land/environmentally-minded-buyers-snap-up-sekisui-s-western-sydney-project-the-hermitage-perhaps-drawn-by-satoyama/2012030753713">The Hermitage</a>, a master-planned community in the brand-new Sydney suburb of Gledswood Hill, and<a href="https://www.propertyobserver.com.au/new-south-wales/time-running-out-for-stamp-duty-free-purchases-at-sydneys-central-park/2012030653714"> Central Park</a>, in partnership with Frasers, in Chippendale.
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Almost all sub-$600,000 units in Wentworth Point development St Tropez sold as NSW build bonus deadline looms

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.

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Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

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Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

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Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

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Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
</section>

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Above Zero launches Camberwell House in undersupplied Camberwell Junction precinct

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

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The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

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“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

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CPG unveils Castile Newstead ahead of upcoming sales launch

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

Cassidy Knowlton

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