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Federal Finance Minister Penny Wong has denied that the Prime Minister is putting pressure on the Reserve Bank to cut rates, insisting that the government’s focus is returning Australia to surplus. 
Yesterday, Julia Gillard said that a budget surplus would give the RBA the opportunity to lower interest rates. 
Wong later said that Gillard wasn’t trying to “heavy” the central bank into cutting rates. 
Economist Christopher Joye said yeseterday that the Prime Minister's speech was an <a target="_blank" href="/news">attempt to politicise the RBA.</a> 
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
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Finance Minister Penny Wong denies government pressure on RBA to cut rates

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There were 792 sales in Perth for the week ending April 18, according to the Real Estate Institute of Western Australa. This is up 195% from the same week last year. The same week last year was the lead-up to Easter, which fell on April 24 last year.
<img src="/images/stories/reiwaapril19.gif">
 
 
 
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Perth sales volumes up 195% on same week last year: REIWA

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<a href="https://www.propertyobserver.com.au/renovating/sydney-re-embraces-its-passion-for-the-block-as-south-melbourne-swan-song-series-kicks-off-with-bigger-numbers/2012041754309"><img src="/images/stories/1point4m.gif"></a>
 
The <a target="_self" href="https://www.propertyobserver.com.au/renovating/sydney-re-embraces-its-passion-for-the-block-as-south-melbourne-swan-song-series-kicks-off-with-bigger-numbers/2012041754309">average number of viewers who watched the premiere of The Block 2012</a>. This is up from last year's 1,342,000 who watched the first show of The Block 2011.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/leisure/eiger-chalet-at-perisher-set-for-auction-after-51-years-ownership/2012041354253"><img src="/images/stories/51.gif"></a>
The number of years the <a target="_blank" href="https://www.propertyobserver.com.au/leisure/eiger-chalet-at-perisher-set-for-auction-after-51-years-ownership/2012041354253">Eiger Chalet at Perisher in the NSW ski fields </a>has been owned by its original owners, who have now put the property up for sale.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/land/final-piece-of-brian-rays-port-douglas-bale-dream-sells-for-%24750000/2012041654286"><img src="/images/stories/750k.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/land/final-piece-of-brian-rays-port-douglas-bale-dream-sells-for-%24750000/2012041654286">price paid for the last piece of land due to be developed by the late Gold Coast property developer Brian Ray</a>, which sold under the hammer this week. 
 
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<img src="/images/stories/6point32percent.gif">
The standard variable mortgage rate being offered by Collins Home Loans. This is currently the cheapest standard variable mortgage rate being offered by banks or non-bank lenders in Australia.
 
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<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>
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.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/victoria/actor-ryan-toadie-moloney-says-goodbye-to-malvern-east-neighbours-as-home-sells-title-tattle/2012041754329"><img src="/images/stories/1point2m.gif"></a>
The <a target="_parent" href="https://www.propertyobserver.com.au/victoria/actor-ryan-toadie-moloney-says-goodbye-to-malvern-east-neighbours-as-home-sells-title-tattle/2012041754329">price hopes Ryan "Toadie" Moloney had for his Malvern East home</a>, which sold this week. The sale price has not been disclosed.
 
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<a href="https://www.propertyobserver.com.au/developments/melbournes-second-tallest-tower-residential-receives-approval-for-southbank-queensbridge-hotel-site/2012041854346" target="_blank"><img src="/images/stories/276m.gif"></a>
The <a href="https://www.propertyobserver.com.au/developments/melbournes-second-tallest-tower-residential-receives-approval-for-southbank-queensbridge-hotel-site/2012041854346" target="_blank">height of a new skyscraper planned for the Queensbridge Hotel site in Southbank</a>. When complete, the tower will be the second-tallest residential building in Melbourne.
 
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The 7 must-know numbers of the week, starting with The Block ratings

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7/70 Nepean Highway, Seaford, VIC, 3198
<img src="/images/stories/nepeanhwy.jpg">
Directly opposite the beach, this two-bedroom Seaford unit is currently let until August at $245 per week. The property comes with a courtyard for entertaining and carport, and it is within walking distance of Seaford village.
Barry Plant agent Peter Howard says it is in "liveable condition" but that it could use "a small bit of an update". He says that any renovation to the proprety would increase its rental potential. The median asking rent for Seaford units is $275 per week, according to RP Data.
Howard<a target="_blank" href="https://www.barryplant.com.au/property.cfm?propertyID=2010243&amp;realestate=70_Nepean_Highway_SEAFORD_VIC_3198&amp;menuItemID=41771"> is marketing the property</a><a href="https://maroubra.ljhooker.com.au/P9SFA0" target="_blank"> </a>with price hopes $220,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.8% at its current rent, substantially above the median indicative gross rental yield of 4.3% for Seaford units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $5,000.
The median unit price in Seaford rose by 1.5% in the past year, according to RP Data.
The property will be open for inspection Saturday, April 21 at 11am and will go to auction on Saturday, May 19 at 11am.
For more about prices and yields in Seaford, see the <a target="_blank" href="/news">RP Data suburb page.</a>
For another investment prospect going to auction this weekend, see page 2.
 
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49 Macquarie Street, Greenacre, NSW, 2190
<img src="/images/stories/macquariest.jpg">
This three-bedroom house is currently tenanted at $500 per week, which is market rent for the area, according to listing agent Bassam Barake of Elders Real Estate. The lease is expired but the tenant is keen to stay on. The 670-square-metre block includes a garage and garden shed.
Barake<a target="_blank" href="https://www.eldersrealestate.com.au/residential/buy/property-house-nsw-greenacre-492148"> is marketing the property</a> with price hopes in the "high $500,000"s. If it sells for $580,000 that would secure a gross rental yield of 4.5%, about at the indicative gross rental yield for Greenacre houses of 4.6%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. If it sells for $600,000, that would secure an investor a gross rental yield of 4.3%.
<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 median house price in Greenacre rose 3.2% in the past year, according to RP Data.
The property will go to auction Saturday, April 21 at 3pm.
For more about prices and yields in Greenacre see the RP Data suburb page.
 
 
 
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Friday form guide: Yields of up to 5.8% in Seaford

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The Housing Industry of Australia and RP Data have released a list of the 10 least expensive regional markets in Australia for lots of land, led by Richmond-Tweed in New South Wales.
<img src="/images/stories/269000.gif">
The median lot price in Richmond-Tweed, New South Wales, according to the HIA and RP Data.
 
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<img src="/images/stories/235000.gif">
The median lot price on the Sunshine Coast, Queensland, according to the HIA and RP Data.
 
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<img src="/images/stories/230290.gif">
The median lot price on the Gold Coast, Queensland, according to the HIA and RP Data.
 
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<img src="/images/stories/210000.gif">
The median lot price in the Illawarra, New South Wales, according to the HIA and RP Data.
 
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<img src="/images/stories/194000.gif">
The median lot price in Barwon, Victoria, according to the HIA and RP Data.
 
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<img src="/images/stories/176000.gif">
The median lot price in Mackay, Queensland, according to the HIA and RP Data.
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<img src="/images/stories/173000.gif">
The median lot price in Hunter, New South Wales, according to the HIA and RP Data.
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<img src="/images/stories/163450.gif">
The median lot price in south-west Western Australia, according to the HIA and RP Data.
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<img src="/images/stories/16000.gif">
The median lot price in Fitzroy, Queensland according to the HIA and RP Data.
 
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<img src="/images/stories/157900.gif">
The median lot price in northern Queensland according to the HIA and RP Data.
 
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Richmond-Tweed heads the 10 most expensive regional markets for land prices: HIA-RP Data

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The Housing Industry of Australia and RP Data have released a list of the 10 least expensive regional markets in Australia for lots of land, led by south-east South Australia.
<img src="/images/stories/74000.gif">
The median lot price in south-east South Australia, according to the HIA and RP Data.
 
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<img src="/images/stories/77500.gif">
The median lot price in Mersey-Lyell, Tasmania, according to the HIA and RP Data.
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<img src="/images/stories/80750.gif">
The median lot price in Mallee, Victoria, according to the HIA and RP Data.
 
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<img src="/images/stories/85000.gif">
The median lot price in northern New South Wales, according to HIA and RP Data.
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<img src="/images/stories/89500.gif">
The median lot price in northern South Australia, according to HIA and RP Data.
 
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<img src="/images/stories/90000.gif">
The median lot price in Murrumbidgee, New South Wales, according to the HIA and RP Data.
 
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<img src="/images/stories/97000.gif">
The median lot price in Murray Lands, South Australia, according to HIA and RP Data.
 
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<img src="/images/stories/101500.gif">
The median lot price in Murray, New South Wales, according to HIA and RP Data.
 
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<img src="/images/stories/105000.gif">
The median lot price in Loddon, Victoria, according to HIA and RP Data.
 
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<img src="/images/stories/107500.gif">
The median lot price in Ovens-Murray, Victoria, according to HIA and RP Data.
 
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The 10 cheapest regional markets for land prices across Australia: HIA-RP Data

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<div>
Founder(s): Shane Thatcher, Liz Aitken, Nick Barr  Revenue: $372,000 Started: 2010 Head Office: Victoria Employees: 3 Industry: Other Website: <a href="https://www.startupsmart.com.au/weblink?cid=5819&amp;fid=36&amp;ord=1" title="www.illuminationsolar.com">www.illuminationsolar.com</a>
</div>
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<img src="/images/stories/shanethatcher.gif" style="float: left; margin: 5px;">
<div>The solar industry has taken a beating these past few years, but that hasn’t stopped Shane Thatcher (pictured left) from starting Illumination Solar with a clear vision: “To eliminate the burning of kerosene as a fuel source in the developing world.”
Illumination isn’t focusing on the Australian market, but is instead turning to the developing world in order to make a change, being able to provide lights at such a low price due to carbon credits.
Thatcher’s goal is as much as philanthropic as it is commercial and he says the business has already been able to “change the lives of over two hundred thousand people and managed to feed ourselves in the process.”
There are significant problems in bringing solar to the developing world, however.
“Our markets and customers are geographically and culturally diverse,” he says.
“They often lack basic commercial infrastructure and it took some time to locate and develop reliable and trustworthy distribution partners.”
But he says by using a simple customer-focused design, the business has been able to produce a target price point that “makes an enormous difference to our customers’ lives.
“The market potential is absolutely enormous,” Thatcher says.
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
 
 
 
 
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StartupSmart Awards 2012: Illumination Solar

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A three-bedroom Bronte house that fetched $2.39 million was the most expensive sale this week, according to RP Data. The 2003 Tipper Avenue house is 50 metres from the beach and was sold by Goodyer Donnelley agent Alexander Phillips on April 13. The adjoining Tipper Avenue house fetched $2.45 million in 2008, also through Phillips.
New South Wales accounted for eight of the 10 most expensive sales of the week, according to RP Data. A two-bedroom Broadbeach unit was the most expensive sale outside of the state. The Queensland unit sold for $1.75 million, coming in at number six on the list. 
It just pipped a four-bedrom Fairfield house that sold for $1.71 million and ranked as the seventh most expensive sale of the week. 
 
1. 23 TIPPER AVENUE, BRONTE, NSW, 2024, three-bedroom house, sold on April 13 by Goodyer Donnelley Real Estate for $2.39 million
2. 80 GORDON STREET, PADDINGTON, NSW, 2021, four-bedroom house, sold at auction on April 13 by Goodyer Donnelley Real Estate for $2,125,000
3. 25 EDMUND STREET, QUEENS PARK, NSW, 2022, four-bedroom house, sold on April 11 by Belle Property Bondi Junction for $2.1 million
4. 72 TRAFALGAR STREET, ANNANDALE, NSW, 2038, four-bedroom house, sold at auction on April 14 by Belle Property Annandale for $2.05 million
5. 1 MCBURNEY STREET, NAREMBURN, NSW, 2065, four-bedroom house, sold at auction on April 12 by McGrath Estate Agents for $2 million
6. 4/5 BROADBEACH BOULEVARD, BROADBEACH, QUEENSLAND, 4218, two-bedroom unit, sold at auction by Del La Parker Executive Realtors for $1.75 million
7. 47 PARK CRESCENT, FAIRFIELD, VICTORIA, 3078, four-bedroom house, sold at auction on April 14 by Collins Simms Real Estate for $1.71 million
8. 6 CLEVEDON ROAD, HURSTVILLE, NSW, 2220, five-bedroom house, sold on April 10 by CoStar Real Estate Hurstville for $1.65 million
9, 1005/21 ELIZABETH BAY ROAD, ELIZABETH BAY, NSW, 2011, two-bedroom unit, sold on April 12 by Richardson &amp; Wrench Elizabeth Bay/Potts Point for $1.65 million
10. 35B SPENCER ST ROSE BAY, NSW, 2029, three-bedroom house, sold at auction on April 10 by Richardson &amp; Wrench Bondi Junction/Bondi Beach for $1,587,000
 
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NSW represents eight of the top 10 sales of the week, with Bronte leading the way: RP Data

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Almost half of the 95 apartments in Abacus Property Group’s new Brighton development, 380 degrees, have sold since the project launched in February.
The $110 million development at 380 Bay Street will comprise five levels and is designed to appeal to buyers seeking luxurious, low-maintenance living options in the affluent suburb.
“With apartment living growing exponentially in recent years, 380 Degrees has been carefully designed to capture the epitome of contemporary Australian living,” says Abacus Property Group associate director John Bush.
He says the development appeals to “a broad range of buyers, including empty nesters, investors, corporate high flyers and first-home buyers”.
<img src="/images/stories/380degrees1.jpg">
About 40 of the apartments have been sold to date. Construction commenced in March this year and is set to be finished in late 2013.
There will be 42 one-bedroom apartments, which will range in size from 55 to 75 square metres and from $460,000 to $600,000. Of these, 31 will include a multipurpose room/study, and these start from $545,000. The 40 two-bedroom offerings will be between 80 and 117 square metres internally and will range between $639,000 and $995,000 in price. There will be 13 three-bedroom units of between 102 and 125 square metres, priced between $1.11 million and $1.27 million.
According to RP Data, 20% of the dwelling stock in <a href="Almost%20half%20of%20the%2095%20apartments%20in%20Abacus%20Property%20Group%E2%80%99s%20new%20Brighton%20development,%20380%20degrees,%20have%20sold%20since%20the%20project%20launched%20in%20February.%20The%20%24110%20million%20development%20at%20380%20Bay%20Street%20will%20comprise%20five%20levels%20and%20is%20designed%20to%20appeal%20to%20buyers%20seeking%20luxurious,%20low-maintenance%20living%20options%20in%20the%20affluent%20suburb.%20%E2%80%9CWith%20apartment%20living%20growing%20exponentially%20in%20recent%20years,%20380%20Degrees%20has%20been%20carefully%20designed%20to%20capture%20the%20epitome%20of%20contemporary%20Australian%20living,%E2%80%9D%20says%20Abacus%20Property%20Group%20associate%20director%20John%20Bush.%20He%20says%20the%20development%20appeals%20to%20%E2%80%9Ca%20broad%20range%20of%20buyers,%20including%20empty%20nesters,%20investors,%20corporate%20high%20flyers%20and%20first-home%20buyers%E2%80%9D.%20About%2040%20of%20the%20apartments%20have%20been%20sold%20to%20date.%20Construction%20commenced%20in%20March%20this%20year%20and%20is%20set%20to%20be%20finished%20in%20late%202013.%20There%20will%20be%2042%20one-bedroom%20apartments,%20which%20will%20range%20in%20size%20from%2055%20to%2075%20square%20metres%20and%20from%20%24460,000%20to%20%24600,000.%20Of%20these,%2031%20will%20include%20a%20multipurpose%20room/study,%20and%20these%20start%20from%20%24545,000.%20The%2040%20two-bedroom%20offerings%20will%20be%20between%2080%20and%20117%20square%20metres%20internally%20and%20will%20range%20between%20%24639,000%20and%20%24995,000%20in%20price.%20There%20will%20be%2013%20three-bedroom%20units%20of%20between%20102%20and%20125%20square%20metres,%20priced%20between%20%241.11%20million%20and%20%241.27%20million.%20According%20to%20RP%20Data,%2019.7%%20of%20the%20dwelling%20stock%20in%20Brighton%20comprises%20units,%20with%20about%2060%%20detached%20houses.%20The%20median%20unit%20price%20in%20Brighton%20fell%204.8%%20last%20year.%20Architecture%20firm%20Rothelowman%20is%20behind%20the%20striking%20design.%20%E2%80%9C380%20Degrees%20will%20be%20an%20excellent%20addition%20to%20the%20area.%20The%20building%E2%80%99s%20fa%C3%A7ade%20will%20feature%20perforated%20metal%20sliding%20panels%20to%20create%20a%20stylish%20winter%20garden%20effect,%E2%80%9D%20says%20Interiors%20Rothelowman%20associate%20Clementine%20Inglis.%20%20%E2%80%9CSpacious%20balconies%20and%20terraces%20have%20been%20designed%20to%20capture%20indoor%20and%20outdoor%20living,%20whilst%20creating%20a%20sense%20of%20sanctuary%20and%20privacy,%20which%20is%20perfect%20for%20entertaining%20and%20escaping.%20Each%20apartment%E2%80%99s%20interior%20will%20reflect%20minimalist%20style%20with%20a%20sophisticated%20fit%20out%20%E2%80%93%20wide%20floorboards%20and%20modern%20cabinetry%20to%20polished%20fittings%20and%20flush%20surfaces%20throughout%20help%20ensure%20a%20prevailing%20sense%20of%20openness,%20the%20perfect%20elements%20to%20create%20a%20home%20and%20a%20lifestyle.%E2%80%9D" target="_blank">Brighton </a>comprises units, with about 60% detached houses. The median unit price in Brighton fell 4.8% last year.
<img src="/images/stories/380degrees2.jpg">
Architecture firm Rothelowman is behind the striking design.
“380 Degrees will be an excellent addition to the area. The building’s façade will feature perforated metal sliding panels to create a stylish winter garden effect,” says Interiors Rothelowman associate Clementine Inglis.
<img src="/images/stories/380degrees3.jpg">
“Spacious balconies and terraces have been designed to capture indoor and outdoor living, whilst creating a sense of sanctuary and privacy, which is perfect for entertaining and escaping. Each apartment’s interior will reflect minimalist style with a sophisticated fit out – wide floorboards and modern cabinetry to polished fittings and flush surfaces throughout help ensure a prevailing sense of openness, the perfect elements to create a home and a lifestyle.”
 
 
 
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Brighton development 380 Degrees about half-sold two months after launch

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There are some very simple steps which could reduce the cost of Sydney apartments by about $60,000 – from, say, $550,000 to $490,000. Many of the steps also apply to Melbourne. If the steps were taken it would also provide a fantastic boost to the Sydney construction industry, which is now struggling. If we do not take these steps then Chinese buyers will purchase the vast bulk of inner-Sydney apartments. Here are my six steps: 1) In inner-city areas we need to recognise that five-to six-storey apartments are uneconomical. We must change the culture and build apartment blocks with 12 storeys or more. These large apartment blocks are the only solution to the dwelling shortage because outer suburban cottages require too much land and too much infrastructure. Worse still, the home buyers are forced to spend too much money on transport and too much effort is required to go to work and come home. 2) We need to streamline the approval process, which currently can take can take two to three years even when an application complies with all the controls.  3) The state government advisory document called SEPP 65 stipulates strict requirements for the number of units requiring light into the living rooms, which leads to the incorporation of far too many two-storey crossover units. These are not favoured by the market and add enormous cost to a development. 4) The New South Wales Land &amp; Environment Court takes far too long to hear cases and then far too long to hand down decisions. In any event, the majority of decisions seem to be in favour of councils and against developers. It’s a huge burden on the cost to the buyer. 5) Section 94 contributions, which are charged by individual councils, must be fixed at a maximum of $20,000 per apartment and should include all works required by councils and other authorities to the roads and utilities surrounding a development site. These should be payable at occupation of development. 6) Affordable housing levies, where they exist, should be abolished as this is purely a tax on development and the provision of affordable housing is a burden which should be shared by the entire community, not just the development industry. Australian buyers are back in the market but they are being forced to pay unnecessary costs. Lower interest rates will increase Australian buyers but supply is artificially being held back and the costs boosted by state and local governments. Harry Triguboff is managing director of the <a target="_blank" href="https://www.meriton.com.au/">Meriton Group.</a>
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator.</a>
 
 
 
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Harry Triguboff’s six steps to apartment affordability – starting with more high rise

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.

Joel Robinson

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.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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

Cassidy Knowlton

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