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With Tasmanian house prices continuing to fall, Hobart vendors are struggling to find buyers, even when they offer deep discounts, SQM Research has found.
Hobart's median house price has fallen 2.3% to $353,000 in the past year, <a target="_blank" href="https://www.propertyobserver.com.au/residential/tasmanian-house-prices-still-falling-reit/2012050254519">according to figures released by the Real Estate Institute of Tasmania</a>. And vendors are finding it increasingly difficult to close the deal, with the number of sales across Tasmania down 12.3% compared with the same month last year.
"Hobart is undergoing some pretty severe oversupply issues with both high stock levels and rental vacancies," says SQM director Louis Christopher.
Hobart's vendors are offering an average discount of 7.5%, compared with 5.6% in the Northern Territory, 8.1% in New South Wales, 7.4% in Queensland and an average discount of 7.1% in Victoria, according to RP Data.
Hobart properties lingered on the market for an average of 143 days before being sold in April, according to Australian Property Monitors. This compares with an average of 94 days in Sydney, 105 in Melbourne, 136 in Brisbane, 138 in Adelaide and 136 in Perth. 
SQM Research has released a list of the most discounted properties in Hobart, six months after its last list of deepest Hobart discounts. There is just one property that is still on the list, 22 Beach Street, White Beach. It came in at number 10 in November 2011, with its price hopes having been slashed from $250,000 to $195,000, or a discount of 22% after 1,211 days on the market.
It is now at number three, with its vendors having reduced their price expectations again, to $170,000.
<h2 style="font-size: 18px; line-height: 21px;">1</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008421301" target="_blank">27 Reeve Street, Campania, Tasmania, 7026</a>
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 589
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106990132" target="_blank">211 Jetty Road, Eaglehawk Neck, Tasmania, 7179</a>
On the market since: November 14, 2010
Initial asking price: $595,000
Current asking price: $375,000
Reduction: 37%
Days on market: 434
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">3</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: 1,302
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008415859">27 Turners Road, Saltwater River, Tasmania, 7186</a> (pictured)
On the market since: June 14, 2010
Initial asking price: $695,,000
Current asking price: $475,000
Reduction: 32%
Days on market: 673
 
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106613943" target="_blank">29 Watsons Road, Glen Huon, Tasmania, 7109</a>
On the market since: June 13, 2010
Initial asking price: $179,000
Current asking price: $125,000
Reduction: 30%
Days on market: 588
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009110098">133 Davis Road, Baden, Tasmania, 7120</a>
On the market since: July 18, 2011
Initial asking price: $375,000
Current asking price: $280,000
Reduction: 25%
Days on market: 267
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008864836" target="_blank">8a Barton Avenue, Triabunna, Tasmania, 7190</a>
On the market since: March 7, 2011
Initial asking price: $295,000
Current asking price: $220,000
Reduction: 25%
Days on market: 400
 
 
<h2 style="font-size: 18px; line-height: 21px;">8</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%3D107250730">1620 Nubeena Road, Nubeena, Tasmania, 7184</a>
On the market since: March 20, 2011
Initial asking price: $395,000
Current asking price: $300,000
Reduction: 24%
Days on market: 308
 
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106224707" target="_blank">26 Glenbervie Road, Dover, Tasmania, 7117</a>
On the market since: December 27, 2009
Initial asking price: $250,000
Current asking price: $190,000
Reduction: 24%
Days on market: 770
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D109304791" target="_blank">2/12 Churchill Road, Taroona, Tasmania, 7053</a>
On the market since: January 29, 2012
Initial asking price: $4375,000
Current asking price: $299,000
Reduction: 20%
Days on market: 70
 
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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Hobart vendors struggling in oversupplied market, even with discounts: SQM

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A former 89-hectare turf farm in Burbank, Queensland is being converted into eight separate six-hectare blocks of land aimed at prestige buyers called Araluen Estates.
<img src="/images/stories/araluen1.jpg">
The lots will be $2.5 million each, and they are set to go on sale before next Friday. There has already been significant pre-registration interest from buyers seeking absolute privacy, peace and quiet.
<img src="/images/stories/araluen2.jpg">
“The quality of life here is exceptional,” says owner Robert Greasley, who has lived on and managed the turf farm for the past 24 years.
“You are a million miles from mediocrity and just 20 kilometres from Brisbane CBD. The furthest house lot, within the estate, is over a kilometre from Ford Road. That makes for a private and very quiet environment with an abundance of wildlife.”
<img src="/images/stories/araluen3.jpg">
The turf farm produced the specialist Wintergreen Couch grass, which is used for golf courses, for 30 years, and Araluen Estates has the gently rolling topography of quality golf courses.
<img src="/images/stories/araluen4.jpg">
The majority of Araluen Estates will comprise natural environment, with multiple lakes, parklands and bush. It is in the Priest Gully wildlife corridor.
<img src="/images/stories/araluen5.jpg">
“The quality lifestyle within the development is magnificent. The lakes are within the body corporate and contain Australian bass and silver perch. There are also bush trails around the lakes, Priest Gully and through the nature reserves,” says Greasley.
<img src="/images/stories/araluen6.jpg">
The building envelopes for each estate are 5,000 square metres, and there are no building covenants.
<img src="/images/stories/araluen7.jpg">
Despite the seclusion, Araluen Estates is three kilometres from the outer-Brisbane suburb of Rochedale, which is growing rapidly and has amenities such as shops, schools and medical centres.
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Brisbane fringe turf farm transforming into prestige housing community

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Affordability, not spaciousness, is the drawcard for apartments even in Double Bay. Oceania Property is hoping third time lucky – and the one-bedder home buyers’ market – will generate sales for its boutique development at 18 Bay Street, Double Bay.
After failing to secure any luxury buyers during the marketing for planned project Montre, the developer has gone back to the drawing board and has released a plan with a new mix of units, new prices – and even a new name.
Montre was the second attempt for the development site, as in 2009 registrations of interest were being sought through Colliers by the developer, Thaung Investments.
<img src="/images/stories/bayresidences.jpg">
Oceania bought the site for $20.5 million in January 2011, with the site having previously traded at $15 million in 2007.
Montre was to feature just eight apartments, with prices starting from $3.25 million for the three two-bedroom offerings.
“Montre is our benchmark development,” Nico Wijarto Tjen, a director of Oceania Property, said in October last year. “What we are offering is grand, easy-care apartments for those who appreciate the finer things in life.”
But Sydneysiders didn’t seem to want grand, easy-care apartments with multimillion-dollar price tags, and the new incarnation of the plans has been rechristened The Bay Residences and is set to comprise 21 smaller, less expensive offerings. The exterior, designed by Kann Finch architects, remains substantially the same.
<img src="/images/stories/bayresidences2.jpg">
The 15 one-bedroom apartments start from $825,000. Two-bedroom apartments start from $1.75 million, three-bedrooms offerings from $2.25 million and the penthouses from $3.99 million. There are set to be two of each of these larger configurations. In Montre, the penthouses were set to start from $5.56 million.
<img src="/images/stories/bayresidences3.jpg">
The new tack seems to be working, with two apartments sold and a few others in discussions about a month after they came onto the market, according to Wijarto Tjen.
Ben Stewart, a director of CBRE residential project marketing, which is marketing The Bay Residences, says the previous incarnation appealed to the wrong demographic for the current market.
“I know of exquisite three-bedroom apartments in Double Bay that are still unsold 18 months after they were completed,” he says.
“There is absolutely nothing wrong with the apartments; it’s just that empty-nesters are remaining in their family homes because they don’t feel as financially secure as they once did.
“Currently in Sydney the majority of buyers are young singles and couples fed up with paying rent. They still want to live in a convenient, vibrant location, but have limited budgets. That’s why one-bedroom apartments always sell first in Sydney developments these days.”
<img src="/images/stories/bayresidences4.jpg">
The developer has lodged a section 96 request with Woollahra Council to modify the plans for the Bay Street block. The application is currently pending, but as plans for the exterior have not changed, the developer expects it will receive council approval soon. Woollahra Council is thought to favour blocks with more, smaller units over fewer, larger ones.
“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 Wijarto Tjen, “and the new apartment mix will also mean younger residents.”
Oceania Property is set to begin demolition work on the existing building on the site next month, and it hopes that Woollahra will have approved its section 96 modification shortly thereafter so it can begin construction. The Bay Residences have a tentative completion date of August 2013.
 
 
 
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Oceania Property swaps luxury and space for affordable one-bedders in third incarnation of Double Bay site

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Vendors in Darwin are able to secure sales without having to offer deep discounts needed in other states, research from RP Data and SQM Research has found.
The average discount offered by vendors in the Northern Territory is 5.6%, according to RP Data, compared with an average discount of 8.1% in New South Wales, 7.4% in Queensland and an average discount of 7.1% in Victoria.
This is borne out by SQM Research's list of the top 10 most discounted properties in NT. The most discounted property on the list, 31 Chinner Road, Lake Bennett, is offered at a 21% discount to its original price hopes of $369,000. In November 2011, the last time SQM compiled a list of the most discounted properties in Darwin, 35<a target="_blank" style="font-size: 14px; text-align: left;" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106984366"> </a>Flinders Drive, Stuart Park was the number-one property, with a discount of 20%. Its vendors have neither budged on price nor sold, as the property is now number two on the list and is still offered with a 20% discount.
On SQM's recent list of the <a target="_blank" href="https://www.propertyobserver.com.au/queensland/treasure-island-avenue-home-heads-list-of-most-discounted-properties-in-queensland-sqm-research/2012032754036">most discounted properties in Queensland</a>, the number-one property, 121 Treasure Island Avenue, Karragarra Island, is offered at a 40% discount on its original price hopes of $335,000.
The <a target="_blank" href="https://www.propertyobserver.com.au/victoria/most-discounted-properties-in-victoria-all-in-melbourne-sqm/2012031353814">most discounted property in Victoria</a>, according to SQM, is 1365 Ballan Road, and is offered at a 25% discount on its original price hopes.
And <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/central-coast-still-heavily-represented-on-sqm-s-most-discounted-properties-in-nsw-list/2012022853607">SQM's report on the most discounted properties in NSW</a> shows that the number-one property, 1302 Birkdale Place, Magenta, is currently offered with its price hopes 36% reduced.
 
<h2 style="font-size: 18px; line-height: 21px;">1</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%3D109520391">31 Chinner Road, Lake Bennett, NT, 0822</a>
On the market since: February 11, 2012
Initial asking price: $369,000
Current asking price: $290,000
Reduction: 21%
Days on market: 56
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<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">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%3D106984366">35 Flinders Drive, Stuart Park, NT, 0820</a>
On the market since: November 13, 2010
Initial asking price: $1.15 million
Current asking price: $925,000
Reduction: 20%
Days on market: 511
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">3</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%3D107302548">29 Bayview Boulevard, Bayview, NT, 0820</a>
On the market since: April 9, 2011
Initial asking price: $1.9 million
Current asking price: $1.6 million
Reduction: 16%
Days on market: 203
 
<h2 style="font-size: 18px; line-height: 21px;">4</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%3D7361321">890 Chinner Road, Lake Bennett, NT, 0822</a>
On the market since: October 29, 2011
Initial asking price: $579,000
Current asking price: $495,000
Reduction: 15%
Days on market: 161
 
 
<h2 style="font-size: 18px; line-height: 21px;">5</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%3D107365884">2916/485 Dundee Road, Dundee Beach, NT, 0840</a>
On the market since: May 7. 2011
Initial asking price: $519,000
Current asking price: $450,000
Reduction: 13%
Days on market: 336
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a target="_parent" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106295188">273/8 Gardiner Darwin, NT, 0800</a> (pictured)
On the market since: February 6, 2010
Initial asking price: $1.25 million
Current asking price: $1,086,195
Reduction: 13%
Days on market: 791
 
<h2 style="font-size: 18px; line-height: 21px;">7</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%3D107457564">4100 (l2943) Fog Bay Road, Dundee Beach, NT, 0840</a>
On the market since: June 11, 2011
Initial asking price: $400,000
Current asking price: $350,000
Reduction: 13%
Days on market: 301
 
 
<h2 style="font-size: 18px; line-height: 21px;">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%3D2008770053">86/9 Carey Street, Darwin, NT, 0800</a>
On the market since: January 15, 2011
Initial asking price: $639,000
Current asking price: $559,500
Reduction: 12%
Days on market: 322
 
<h2 style="font-size: 18px; line-height: 21px;">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%3D2009000850">22/68 Ryland Road, Millner, 0810</a>
On the market since: May 21, 2011
Initial asking price: $410,000
Current asking price: $359,000
Reduction: 12%
Days on market: 322
 
<h2 style="font-size: 18px; line-height: 21px;">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%3D106273202">40 Lot 3760 Launceston Road, Dundee Beach, NT, 0840</a>
On the market since: January 30, 2010
Initial asking price: $495,000
Current asking price: $439,000
Reduction: 11%
Days on market: 798
 
SQM Research also offers a list of the <a target="_blank" href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research">Top 100 Biggest Bargains in Australia </a>for sale.
 
 
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Darwin vendors still discounting less than vendors in other capitals: SQM Research

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Developer Ecove has sold 111 of the 270 apartments of stage two of its Australia Towers development at Olympic Park less than two weeks after the stage launched on April 21.
<img src="/images/stories/at211.jpg">
Most buyers have purchased the larger two-, three- and four-bedroom units, and Colliers International residential project marketing general manager David Chittenden says most are owner-occupier upgraders from Sydney's inner west and the Hills District.
“What these sales have shown is that not everybody is an investor on a downsizer,” Chittenden says.
<img src="/images/stories/at21.jpg">
Stage one of the development (pictured below), which is now complete, has sold 209 of the 216 apartments.
<img src="/images/stories/at27.jpg">
Stage one launched in early 2010, and construction finished a few weeks ago. Almost 80% of stage one sold within the first few weeks of the 2010 launch.
<img src="/images/stories/at23.jpg">
<a target="_blank" href="https://www.propertyobserver.com.au/developments/olympic-park-australia-towers-launches-stage-two-after-stage-one-sells-fast-out-of-the-starting-blocks/2012040354146">The second stage, called ATII, will be 25 storeys</a> and is the second of three planned stages. It will have 95 one-bedroom apartments ranging from $450,000 to $595,000 and from 54 to 71 square metres internally, 132 two-bedroom apartments with between 77 square metres and 122 square metres of internal space and priced between $585,000 and $1,085,000, 26 three-bedroom apartments of between 103 and 159 square metres each ranging from $900,000 and $1,565,000 and 14 four-bedroom units, which will range from between $995,000 and $1.76 million and between 141 and 181 square metres internally. Every apartment will have at least one car space.
<img src="/images/stories/at24.jpg">
“Lifestyle is the major reason ATII has been so popular," Chittenden says.
"Many people want to take advantage of the sporting and entertainment facilities on their doorstep, the 430 hectares of parklands, the 35 kilometres of bike tracks, and the 32 restaurants, cafes, bars, and speciality retailers.”
<img src="/images/stories/at28.jpg">
Olympic Park is a new 640-hectare Sydney suburb about 15 kilometres west of Sydney CBD and became an official suburb in 2009. The locality was part of the suburb of Homebush Bay and was redeveloped for the 2000 Sydney Olympics. More than 5,000 events are held at Blaxland Riverside Park in the suburb every year, and about 500 permanent residents now live there. There are more than 130 businesses in the suburb.
Architectural firm Bates Smart has taken a cue from the nearby stadium precinct for the design of ATII.
<img src="/images/stories/at25.jpg">
“We’ve given the building ‘gills’ so that it can breathe,” says Bates Smart director Philip Vivian. “Vertical slots on the northern and southern sides of the facade encourage natural airflow through the apartments and the communal spaces.
“The design maximises light into each apartment, and horizontal sun-shading bands circling the building in varying depths provide added protection to the north.”
<img src="/images/stories/at26.jpg">
Colliers estimates that one-bedroom units will rent for between $500 and $575 per week and that two-bedroom units will command rents of between $600 and $800 per week. For the pricier, larger apartments, Colliers estimates that the three-bedroom units will rent for between $700 and $1,000 per week, and that tenants will pay between $1,000 and $1,500 per week for the four-bedroom units.
<img src="/images/stories/at213.jpg">
Construction is expected to start on ATII in mid-2012 and finish in early 2014.
<img src="/images/stories/at29.jpg">
 
 
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About 40% of Olympic Park's ATII tower sold soon after marketing starting gun sounds

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There were 774 sales in Perth for the week ended May 2, compared with 608 for the same week last year, according to the Real Estate Institute of Western Australia. Last year Easter fell on April 24, so the comparable week last year was the week after the Easter/Anzac Day long weekend.
<img src="/images/stories/reiwamay2.gif">
 
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Perth sales up 27% on same week last year: REIWA

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Angry that ANZ can record an interim profit of $2.97 billion while refusing to pass on the RBA’s rate cut? Annoyed that banks continue to exploit the lack of competition to belt consumers and business with higher interest rates and fees?
The problem is, we’re all hypocrites. The complaints have considerable justification, but most of us are silent, greedy accomplices in what the banks are doing.
At some stage in the financial cycle, most Australians benefit from strong, profitable banks, either as depositors or shareholders. And by swallowing some of the RBA rate cuts, the banks are merely trying to do the right thing by their owners. And who are the bank shareholders, and who are the biggest group of bank shareholders? Why, ordinary Australians via their superannuation funds (retail, industry, self-managed).
The banks underpin much of our super funds’ investment in shares. Even industry super funds, which typically have a wider spread of alternative and property investments, will have 5-6% of their entire holdings in the big four banks. Their big dividends are much loved by fund managers, investors, advisers and shareholders. They are rivers of gold which this year will be around $18 billion.
We also want to have it both ways on rates. If you want a full pass-through of rate cuts by the RBA, then you have to be prepared to accept lower profits and deposit rates. But they in turn mean the banks lift their borrowings in wholesale markets here and offshore, increasing their costs and exposing themselves to greater risks in the event of another financial crisis. Go to Spain, France, the UK or Ireland to find out what weak, financially crippled banks do for confidence, the economy and consumers. Consumers, business and others in those countries have real justifications to moan and groan about their banks.
There’s a problem though for all the banks (and for retirees and others with bank deposits), in that after yesterday’s rate cut, nearly all the term deposits on issue are now half a per cent or so too expensive, but that expense won’t improve for months for the banks until the deposits expire and get rolled over at lower rates. Just how much lower will be the problem. So the banks face more pressure on their margins, possibly until the end of 2012, especially if there’s another rate cut from the RBA. As the RBA has found, while the cost of funds has fallen, the fall in bank deposit rates has been much smaller, as intense competition for deposits forces the banks to keep offer rates (especially teaser rates) higher than they would have expected.
In fact it’s not the cost of wholesale funding here or offshore that’s the problem for the banks who want to maintain their profits, it’s the intense competition for local deposits. That in turn makes every depositor part of the problem for the banks. While Australians moan and groan about the behaviour of the banks (in many cases with justification), they blithely demand higher rates of interest on their bank deposits (especially term deposits), which in turn pushes up bank funding costs, which in turn has caused them to keep some of the rate cuts from the RBA (and add a bit more). Bank depositors are part of the bank’s funding cost pressures, but we won’t admit it.
Don’t expect any sympathy at the RBA for the banks. It’s of the view the banks have contributed to their problems, and hurt the wider economy by keeping part of the last couple of rate cuts (and a bit more) thereby damaging consumer sentiment. This is what RBA chief Glenn Stevens said in <a href="https://www.rba.gov.au/media-releases/2012/mr-12-10">yesterday’s statement about the banks</a>:
<blockquote>
“As a result of changes to monetary policy late last year, interest rates for borrowers have been close to their medium-term averages over recent months, albeit tending to increase a little as lenders passed on the higher costs of funding their books. Credit growth remains modest overall …
“In considering the appropriate size of adjustment to the cash rate at today’s meeting, the Board judged it desirable that financial conditions now be easier than those which had prevailed in December. A reduction of 50 basis points in the cash rate was, in this instance, therefore judged to be necessary in order to deliver the appropriate level of borrowing rates.”
</blockquote>
That is, the RBA knows the banks won’t pass on the full cut so it went for a larger cut. It’s as much a bit of bank bashing (shorn of the rhetoric from Wayne Swan and other critics) as we have seen from the central bank for some time. And if we get another rate cut next month or in July, then that will be aimed at bashing bank lending rates even lower to a level where they are seen by the RBA as stimulative for the economy, not constricting. The first bank to pass on the next rate cut full will be a sign that the RBA has succeeded in bring the banks back into line.
A few other points need to be made. The rate cut (and those to come) won’t help retailing. There’s too much capacity and the structural change underway is now unstoppable and will see more outlets close, employment fall and perhaps one or two big chains crunched badly. The RBA knows, via the latest household expenditure survey, that just over half of all mortgage holders are repaying their mortgages at a rate above the minimum needed. In other words, they are building up their equity. There is no reason to believe that they won’t change this after the 0.50% cut yesterday. It just increases their level of saving.
This article originally appeared on <a href="https://www.crikey.com.au/" target="_blank">Crikey</a>.
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Why we’re all complicit in the banks’ interest rate gouging

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The median rental yield for houses in Darwin, according to RP Data-Rismark.
 
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The median rental yield for houses in Hobart, according to RP Data-Rismark.
 
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The median rental yield for houses in Canberra, according to RP Data-Rismark.
 
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The median rental yield for houses in Brisbane, according to RP Data-Rismark.
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The median rental yield for houses in Perth, according to RP Data-Rismark.
 
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The median rental yield for houses in Adelaide, according to RP Data-Rismark.
 
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<img src="/images/stories/4point3percent.gif">
 
The median rental yield for houses in Sydney, according to RP Data-Rismark.
 
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The median rental yield for houses in Melbourne, according to RP Data-Rismark.
 
 
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Capital city house rental yields, from struggling Melbourne to strong Darwin: RP Data-Rismark

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Number of landlords with more than one investment property increased 5% from 2008-09 to 2009-10: ATO

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With a display village that includes the Kimberley Zero home, designed to have zero carbon emissions, Mirvac’s Harcrest project in the outer-Melbourne suburb of Wantirna South has proven attractive to buyers. 
<img src="/images/stories/harcrest1.jpg">
Some 175 plus lots have been sold since the master-planned community launched in late February. There are currently 23 lots available in the first two sections, Village Square and Garden Grove.
The 56.2-hectare Austral Brickworks site is being converted into a master-planned community with a focus on sustainability, and the 840 lots will eventually be home to more than 2,000 residents.
<img src="/images/stories/harcrest2.jpg">
Lots range in size from 392 square metres to 477 square metres and in price from $380,000 to $499,000. Mirvac house-and-land packages are also available, with prices starting from $505,000. There are currently 13 turn-key homes available.
The median house prices in <a target="_blank" href="/news">Wantirna South</a> is $545,000, according to RP Data, and median house prices fell 2.3% last year.
Mirvac communities CEO Matthew Wallace says the project sought “efficient use of land, maximising solar penetration, privacy, backyard and internal living spaces”.
<img src="/images/stories/harcrest3.jpg">
The Mirvac homes available (pictured above and below) have six-star green environmental ratings, and the community will make use of water reclaiming and reuse.
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The development is set to feature 6.8 hectares of open space, including wetlands.
Wallace says the sustainable technology featuring in Kimberley Zero home can be incorporated into new Mirvac homes.
“The net zero carbon home sets a new benchmark for sustainable community living,” Wallace says.
The retail precinct within Harcrest includes an IGA supermarket and specialty shops, and the development is close to Knox City Shopping Centre, bus and tram routes and the Burwood Highway. It is about 35 kilometres east of Melbourne.
 
 
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Near 90% of lots sold in first release of Wantirna South project Harcrest

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Joel Robinson

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

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

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

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

Above Zero launches Camberwell House in undersupplied Camberwell Junction precinct

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

CPG unveils Castile Newstead ahead of upcoming sales launch

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

Cassidy Knowlton

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