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The auction of the tightly held property at 78 Beaconsfield Parade, Albert Park is likely to attract bidders with deep pockets, according to Mark Armstrong of <a href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon</a>.
"With no recorded sale in the last 30 years the property is likely to attract some strong interest," Armstrong says. 
He points to the recent strong growth in the suburb as a reason for its likely high sale price
"Houses in Albert Park have an outstanding growth record over the last five years," Armstrong says. "In 2005 the median value of houses in Albert Park was $670,000, by the end of 2010 it had rocketed to $1.3 million, a growth rate of over 14% per annum. That sort of growth suggests Albert Park houses are always in strong demand."
Although the Beaconsfield Parade property is "in need of some love", Armstrong still believes it will fetch a price comparable to nearby properties.
"The last comparable property on Beaconsfield Parade, on 349 square metres, sold only last month for $2.66 million. With an under-bidder from that auction likely to be still floating around the market, a sale price in excess $2.6 million is on the cards."
<img src="/images/stories/beaconsfield.jpg">
Agent: Greg Hocking agent John Holdsworth
Quote: $2.4 million to $2.5 million
Last sold: No previous sale on record
Suburb median: $1.3 million
Five-year median growth: 14.18%
 
If you think you know what it will sell for place a tip at <a href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon.</a>
 
 
 
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cknowlton-QnEa6ntUYP

Weekend auction tipping

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<a target="_blank" href="https://www.propertyobserver.com.au/leisure/marilynne-paspaley-abandons-plans-for-rottnest-island-resort-pinctada/2011112752561"><img src="/images/stories/70m.gif"></a>
The expected cost of the <a target="_blank" href="https://www.propertyobserver.com.au/leisure/marilynne-paspaley-abandons-plans-for-rottnest-island-resort-pinctada/2011112752561">planned luxury Pinctada resort development on WA’s Rottnest Island</a>, which will not be proceeding due to "constraints". Developer and former actor Marilynne Paspaley has abandoned plans for a resort on the island, saying outdated bureaucratic processes killed off her vision.
 
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<a href="https://www.propertyobserver.com.au/overseas/warren-buffett-pays-very-little-property-tax-too/2011112752563" target="_blank"><img src="/images/stories/13859.gif"></a>
The amout of <a href="https://www.propertyobserver.com.au/overseas/warren-buffett-pays-very-little-property-tax-too/2011112752563" target="_blank">property tax that billionaire Warren Buffett pays each year</a>. Buffett has lived in the same modest house in Omaha, Nebraska for a very long time. Forbes did the research after Buffett drew lots of attention to himself a few months ago, saying he paid a very low rate of income taxes as well.
 
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<a href="https://www.propertyobserver.com.au/residential/point-piper-on-the-chinese-tourist-route-for-insight-into-the-privileged-lives-of-communist-party-princelings/2011112852568" target="_blank"><img src="/images/stories/32point4.gif"></a>
 
The cost of <a href="https://www.propertyobserver.com.au/residential/point-piper-on-the-chinese-tourist-route-for-insight-into-the-privileged-lives-of-communist-party-princelings/2011112852568" target="_blank">Craig-y-Mor, the Point Piper house owned by Zeng Wei and his wife, Jiang Mei</a>. Zeng Wei is the son of a former vice-president of China, and Chinese tourists have taken to driving past the house for a glimpse into the lives of the couple.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/industry-news/the-apprentice-saved-yellow-brick-road-%2450-million-mark-bouris/2011112852573"><img src="/images/stories/50mill.jpg"></a>
The amount that <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/the-apprentice-saved-yellow-brick-road-%2450-million-mark-bouris/2011112852573">Yellow Brick Road founder Mark Bouris says Celebrity Apprentice saved the company</a>. Bouris, who hosts the show, says Yellow Brick Road would have had to embark on a $50 million marketing campaign over an 18-month period to generate the increase in brand recognition the company has achieved following its close association with Channel 9’s Celebrity Apprentice.
 
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<a href="/news"><img src="/images/stories/56days.gif"></a>
<a href="/news">The average amount of time it takes to sell a house in Australia</a>, according to RP Data. A year ago it took an average of 46 days to sell a house
 
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 <a target="_blank" href="https://www.propertyobserver.com.au/overseas/dixon-advisory-attracts-815-more-aussies-to-take-a-punt-on-us-housing-investment/2011112952603"><img src="/images/stories/815.gif"></a>
 
The<a target="_blank" href="https://www.propertyobserver.com.au/overseas/dixon-advisory-attracts-815-more-aussies-to-take-a-punt-on-us-housing-investment/2011112952603"> number of Australians who have poured $26.9 million in the first round of a three-stage capital-raising exercise by Dixon Advisory's US Masters Fund</a>, which buys investment properties in the American state of New Jersey. 
 
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<a href="https://www.propertyobserver.com.au/residential/australian-housing-market-more-at-risk-than-pre-gfc-america-the-economist/2011112852565" target="_blank"><img src="/images/stories/25percent.gif"></a>
The<a href="https://www.propertyobserver.com.au/residential/australian-housing-market-more-at-risk-than-pre-gfc-america-the-economist/2011112852565" target="_blank"> amount that Australian residential property is overvalued</a>, according to The Economist magazine. Australian house prices are more vulnerable to a major correction than the US housing market was before its collapse following the GFC, the magazine says.
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The 7 must-know numbers of the week

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Not one property on RP Data's list of the top 10 sales of the week this week was in Victoria.
New South Wales dominated the list, with six properties, while Western and South Australia each featured once. Two of the most expensive properties sold this week were in Queensland. 
1. <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-bronte-109325156">442 Bronte Road, Bronte, NSW, 2024</a>, five-bedroom house, sold on February 3 for $2.55 million by GoodyerDonnelley Real Estate Woollahra
2. 20 Freshwater Parade, Claremont, WA, 6010 four-bedroom house, sold at auction on February 4 for $2.5 million by Acton Dalkeith
3. 60 Werrina Parade, Blue Bay, NSW, 2261, eight-bedroom house, sold at auction on February 4 for $2 million by McLachlan Partners Long Jetty
4.  48 Wallis Avenue, Strathfield, NSW, 2135, five-bedroom house, sold on February 2 for $1,715,000 by Georges Ellis &amp; Co
5. 4 Yuruga Street, Austinmer, NSW, 2515 four-bedroom house, sold at auction on February 4 for $1.6 million by Ray White Helensburgh
6. 112 Terry Street, Rozelle, NSW, 2039, four-bedroom house, sold on February 4 for $1,475,000 by Sarah Lorden Real Estate
7. 66 Ben Loman Road, Coromandel East, SA, 5157, six-bedroom house sold on February 1 for $1.45 million by Toop&amp;Toop Glenelg
8. 84 Upper Lancaster Road, Ascot, Queensland, 4007, five-bedroom house, sold on February 3 for $1,295,000 by Re/Max Integrity Clayfield
9. 5 Goroka Place, Runaway Bay, Queensland, 4216,  five-bedroom house, sold at auction on February 4 for $1.26 million by Professionals Vertullo
10. 11 Strathmore Parade, Roseville, NSW, 2069, four-bedroom house, sold before auction on February 4 for $1,255,000 by Crown Property Group Australia
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Top 10 sales of the week: RP Data

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South Australia bookended RP Data's top 10 sales of the week, with 8 Glenwood Road in Springfield topping the list having sold for $3,225,000 and 48 Eton Street, Malvern coming in at number 10 at $2 million.
New South Wales dominated the list, with six of the top 10 sales in the state. Victoria contributed two of the top 10 sales. 
1. <a href="https://www.realestate.com.au/property-house-sa-springfield-107388378" target="_blank">8 Glenwood Road, Springfield, SA</a>, six-bedroom house, sold at auction on November 18 by Toop &amp; Toop Real Estate for $3,225,000
2. <a href="https://www.realestate.com.au/property-house-nsw-burwood-108375826" target="_blank">11A Ethel Street, Burwood, NSW</a>, six-bedroom house, sold before auction on November 19 by Elders Inner West for $2.6 million
3. <a href="https://www.realestate.com.au/property-house-vic-eaglemont-108366551" target="_blank">24 Maltravers Road, Eaglemont, Victoria,</a> six-bedroom house, sold at auction on November 19 by Jellis Craig Ivanhoe for $2.55 million
4. <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-annandale-nsw-2038/140140" target="_blank">316 Annandale Street, Annandale, NSW</a>, three-bedroom house, sold at auction on November 19 by McGrath Estate Agents for $2.46 million
5. <a href="https://www.realestate.com.au/property-house-vic-williamstown-108263241" target="_blank">39 Hannan Street, Williamstown, Victoria</a>, four-bedroom house, sold before auction on November 19 by Williams Real Estate for $2. 43 million
6. <a href="https://www.realestate.com.au/property-house-nsw-killara-108461736" target="_blank">38 Springdale Road, Killara, NSW</a>, three-bedroom house, sold at auction on November 19 by McConnell Bourn Linfield for $2.3 million
7. <a href="https://www.realestate.com.au/property-house-nsw-bronte-108362121" target="_blank">55a Dickson Street, Bronte, NSW</a>, three-bedroom house, sold before auction on November 19 by McGrath Estate Agents for $2.2 million
8. <a href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-huntleys+point-108392731" target="_blank">8 Huntleys Point Road, Huntleys Point, NSW</a>, four-bedroom house, sold before auction on November 19 by Belle Property Annandale for $2.15 million
9. <a href="https://www.realestate.com.au/property-house-nsw-balmain+east-108305436" target="_blank">8 Pearson Street, Balmain East, NSW</a>, four-bedroom house, sold before auction on November 19 by Cobden &amp; Hayson Balmain for $2 million
10. <a href="https://www.realestate.com.au/property-house-sa-malvern-108470536" target="_blank">48 Eton Street, Malvern, SA</a>, three-bedroom house, sold at auction on November 19 by Toop &amp; Toop Real Estate for $2 million
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/sydney-and-melbourne-more-affordable-than-demographia-suggests/2012012953158"><img src="/images/stories/7point4.gif"></a>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/sydney-and-melbourne-more-affordable-than-demographia-suggests/2012012953158">Sydney's median multiple (ratio of median house price to median income) </a>according to Property Observer's calculations using ABS figures. However, US-based research organisation Demographia says Sydney's median multiple is a much less afordable 9.2, ranking it the third on a list of the world's least affordable cities.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/gold-coast-prestige-sales-marked-by-stubbies-not-champagne-as-market-struggles/2012013053168"><img src="/images/stories/2n.jpg"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/gold-coast-prestige-sales-marked-by-stubbies-not-champagne-as-market-struggles/2012013053168">number of the 10 prestige properties that sold before the Ray White Surfers Paradise auction</a>. None of the properties sold under the hammer, but there are reports that deals on another two are close to exchange and some further sales have taken place.
 
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<a target="_blank" href="/news"><img src="/images/stories/6point1.gif"></a>
The amount<a target="_blank" href="/news"> Melbourne dwelling prices fell during 2011</a>, according to RP Data-Rismark. “We are seeing values in Melbourne declining fairly quickly. We expect the market to remain soft over the next 12 months, if not longer,” says RP Data senior analsyt Cameron Kusher.
 
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<a target="_self" href="https://www.propertyobserver.com.au/residential/residential-investment-property-capital-city-house-rental-yields-from-best-to-worst/2012013153198"><img src="/images/stories/5point6.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/residential-investment-property-capital-city-house-rental-yields-from-best-to-worst/2012013153198">indicative gross rental yield for Darwin houses</a>, according to RP Data-Rismark.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/retail/landlord-lists-aria-restaurant-premises-but-the-two-hatted-chefs-are-staying-put-in-the-kitchen/2012013153206"><img src="/images/stories/1point01m.gif"></a>
 
The projected <a target="_blank" href="https://www.propertyobserver.com.au/retail/landlord-lists-aria-restaurant-premises-but-the-two-hatted-chefs-are-staying-put-in-the-kitchen/2012013153206">net income in 2012 for the new landlord of the Aria Restaurant premises</a>, which has been listed for sale. The two-hatted restaurant on Opera House Quay will be staying put. 
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/divergent-housing-data-raises-more-questions-than-answers/2012020153216"><img src="/images/stories/121k.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/divergent-housing-data-raises-more-questions-than-answers/2012020153216">difference between Sydney's median house price for the December 2011 quarter according to Residex and according to RP Data-Rismark</a>.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/renovating/brisbane-house-featured-in-selling-houses-2012-premiere-still-awaiting-buyer/2012020253230"><img src="/images/stories/625k.gif"></a>
The price hopes for the <a target="_blank" href="https://www.propertyobserver.com.au/renovating/brisbane-house-featured-in-selling-houses-2012-premiere-still-awaiting-buyer/2012020253230">Brisbane home featured in the latest Selling Houses Australia 2012 series debut</a>. It received a $60,000 makeover after being damaged by flood but failed to find a buyer.
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<a href="https://www.propertyobserver.com.au/residential/victorian-sheriff-knew-braybrook-house-had-%24630000-valuation-when-it-sold-for-%241000/2012021353352" target="_self"><img src="/images/stories/1152.gif"></a>
The <a href="https://www.propertyobserver.com.au/residential/victorian-sheriff-knew-braybrook-house-had-%24630000-valuation-when-it-sold-for-%241000/2012021353352" target="_blank">sheriff's costs in selling a six-bedroom Braybrook house that had been valued at $630,000</a>. Kell Griffin, the real estate officer of the Victorian Sheriff who conducted the auction, confirmed that the $1,000 paid by the buyer did not cover the costs incurred by the sheriff’s office.
 
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<a href="https://www.propertyobserver.com.au/industry-news/dubai-property-giant-nakheel-ordered-to-pay-former-boss-chris-odonnell-%243-million-in-entitlements/2012021253345" target="_blank"><img src="/images/stories/3point25.gif"></a>
 
The amount is US dollars <a href="https://www.propertyobserver.com.au/industry-news/dubai-property-giant-nakheel-ordered-to-pay-former-boss-chris-odonnell-%243-million-in-entitlements/2012021253345" target="_blank">Dubai property developer Nakheel paid former CEO Chris O'Donnell</a> after he took action to recover his contractual entitlements, mainly relating to bonuses.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/housing-prices-ease-in-january-residex/2012021353353"><img src="/images/stories/1point2.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/housing-prices-ease-in-january-residex/2012021353353">decline in the median national house price in January</a>, according to Residex. House prices slipped 1.65% in Melbourne, 1.18% in Sydney and 0.32% in Perth.
 
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<a href="https://www.propertyobserver.com.au/landlords/investor-opportunity-53-suburbs-where-rent-rises-are-beating-inflation/2012021353360" target="_blank"><img src="/images/stories/53num.gif"></a>
 
The <a href="https://www.propertyobserver.com.au/landlords/investor-opportunity-53-suburbs-where-rent-rises-are-beating-inflation/2012021353360" target="_blank">number of suburbs where the rental growth has beaten inflation</a>. Fairfield, six kilometres north east of the Melbourne CBD, topped the list
 
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<a href="https://www.propertyobserver.com.au/industry-news/declining-sales-and-prices-have-agents-clambering-for-the-exits/2012021353371" target="_blank"><img src="/images/stories/1800.gif"></a>
The <a href="https://www.propertyobserver.com.au/industry-news/declining-sales-and-prices-have-agents-clambering-for-the-exits/2012021353371" target="_blank">number of real estate agents who left the industry last year</a>, according to IBISWorld. Declining sales volumes and prices are hurting the industry, especially in Queensland and Western Australia.
 
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<img src="/images/stories/7point31.gif">
NAB's standard variable interest rate after all four big banks raised interest rates independently of the RBA this week. NAB still has the cheapest rate, but the gap between it and next cheapest ANZ is narrowing.
 
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<a href="https://www.propertyobserver.com.au/economy/unemployment-drops-to-5.1/2012021653411" target="_blank"><img src="/images/stories/5point1.gif"></a>
 
The <a href="https://www.propertyobserver.com.au/economy/unemployment-drops-to-5.1/2012021653411" target="_blank">unemployment rate</a> as of January after it fell by 0.1 percentage points. The rate was than expectations and the drop was driven by an increase in part-time employment.
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/house-prices-will-be-10-lower-by-the-end-of-the-year-steve-keen/2012020253240"><img src="/images/stories/10percent.jpg"></a> <div>The amount by which <a target="_blank" href="https://www.propertyobserver.com.au/residential/house-prices-will-be-10-lower-by-the-end-of-the-year-steve-keen/2012020253240">economist Steve Keen thinks house prices will fall</a> by the end of the year. "Overall, the likely outcome is a fall of 6% 10% in real terms over calendar year 2012," he says.</div>
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<div>The year-on-year increase in the number of mortgages AFG brokers arranged in January 2012 compared with January 2011. The aggregator says the January result marked a return to more normal trading levels after January 2011 was affected by the Queensland floods and other natural disasters.</div>
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<div><img src="/images/stories/154.jpg"></div>
<div>The number of capital city fringe suburbs with a median house price under $300,000, according to RP Data. Gagebrook, 16 kilometres from Hobart, leads the list with a median house price of $140,382.</div>
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<img src="/images/stories/12percent.jpg">
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<div>The growth in NAB's mortgage book during 2011. It grew its mortgage book by $19 billion to $177 billion, comprising $126 billion in owner-occupier mortgages and $52 billion in investment loans. Second-tier lenders Bankwest, Bendigo &amp; Adelaide Bank and Bank of Queensland also had double-digit growth.</div>
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<a href="https://www.propertyobserver.com.au/new-south-wales/proud-parents-geoff-huegill-and-sara-hills-dive-into-darlinghurst-terrace-abode-with-help-from-his-in-laws-title-tattle/2012020753278" target="_blank"><img src="/images/stories/1point97.jpg"></a>
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<div>The cost of <a href="https://www.propertyobserver.com.au/new-south-wales/proud-parents-geoff-huegill-and-sara-hills-dive-into-darlinghurst-terrace-abode-with-help-from-his-in-laws-title-tattle/2012020753278" target="_blank">swimmer Geoff Huegill's new Darlinghurst terrace</a>. Huegill and his wife, Sara, own 60% of the terrace, which they bought in partnership with Geoff's in-laws.</div>
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<a target="_blank" href="https://www.propertyobserver.com.au/economy/rba-leaves-rates-on-hold/2012020753280"><img src="/images/stories/4point25.gif"></a>
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<div>The <a target="_blank" href="https://www.propertyobserver.com.au/economy/rba-leaves-rates-on-hold/2012020753280">official cash rate</a>, as the RBA decided on Tuesday to leave it unchanged. The move surprised many in the industry, with 24 of 27 economists polled by Bloomberg before the meeting tipping a rate cut. </div>
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<a target="_blank" href="https://www.propertyobserver.com.au/news/kell-rigby-one-of-australia-s-oldest-most-respected-building-companies-set-for-voluntary-administration/2012020853012"><img src="/images/stories/1910.jpg"></a>
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<div>The year Kell &amp; Rigby, one of Australia's oldest and most respected building companies, was founded. <a target="_blank" href="https://www.propertyobserver.com.au/news/kell-rigby-one-of-australia-s-oldest-most-respected-building-companies-set-for-voluntary-administration/2012020853012">The company is set for voluntary administration</a>.</div>
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<a target="_blank" href="https://www.propertyobserver.com.au/auctions/queensland-vendors-prefer-not-to-sell-at-all-rather-than-sell-at-a-deep-discount/2011112152454"><img src="/images/stories/52percent.jpg"></a>
The percentage by which the volume of sales was down in the Queensland suburb of Urraween in Hervey Bay during the first six months of the year, compared with the same period last year. House prices were down only 2% during the same period, as <a target="_blank" href="https://www.propertyobserver.com.au/auctions/queensland-vendors-prefer-not-to-sell-at-all-rather-than-sell-at-a-deep-discount/2011112152454">vendors choose to hold onto their properties rather than offer deep discounts</a>.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/fitzroy-north-house-featured-in-late-70s-helen-garner-novel-monkey-grip-listed-for-sale/2011112152450"><img src="/images/stories/2point85m.jpg"></a>
The price expectations for the North Fitzroy house where <a target="_blank" href="https://www.propertyobserver.com.au/residential/fitzroy-north-house-featured-in-late-70s-helen-garner-novel-monkey-grip-listed-for-sale/2011112152450">Helen Garner wrote seminal novel Monkey Grip</a>. The house will go to auction in December.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/reia-lobbies-for-canadian-style-first-home-buyer-scheme/2011112152467"><img src="/images/stories/12percent.jpg"></a>
 
The percentage of Canadians aged between 25 and 44 who took advantage of a <a target="_blank" href="https://www.propertyobserver.com.au/residential/reia-lobbies-for-canadian-style-first-home-buyer-scheme/2011112152467">scheme that allowed them to take money out of their superannuation to buy their first property</a>. The Real Estate Institute of Australia is urging the government to adopt a similar scheme. 
 
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<a target="_blank" href="https://www.propertyobserver.com.au/landlords/perth-rents-soar-as-vacancies-tighten-further/2011112252484"><img src="/images/stories/14point6.jpg"></a>
 
The amount by which <a target="_blank" href="https://www.propertyobserver.com.au/landlords/perth-rents-soar-as-vacancies-tighten-further/2011112252484">rents in inner-city Perth have risen in the September quarter</a>, according to the Real Estate Institute of Western Australia. 
 
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<a target="_blank" href="https://www.propertyobserver.com.au/industry-news/aussie-builder-g.j.-gardner-homes-comes-up-trumps-with-us-franchise-expansion/2011112252490"><img src="/images/stories/503m.jpg"></a>
 
The <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/aussie-builder-g.j.-gardner-homes-comes-up-trumps-with-us-franchise-expansion/2011112252490">worldwide sales last year of G.J. Gardner homes</a>, which has been ranked third-fastest-growing company in the latest Franchise Times top 200 franchise companies operating in the US. The home builder, which began in Queensland in 1983, expanded into the US in 2008.
 
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<a href="https://www.propertyobserver.com.au/rural/southern-highlands-property-neerim-sells-after-90-years-of-family-ownership/2011112352510" target="_blank"><img src="/images/stories/90.jpg"></a>
 
The number of years, approximately, that <a href="https://www.propertyobserver.com.au/rural/southern-highlands-property-neerim-sells-after-90-years-of-family-ownership/2011112352510" target="_blank">the Welsh family owned Southern Highlands property Neerim before selling it this week</a>. The price has not been disclosed, but price hopes had been revised downwards to $3.5 million.
 
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<a href="https://www.propertyobserver.com.au/landlords/winning-richmond-cottage-in-the-block-20111-grossing-9.2-rental-yield/2011112452527" target="_blank"><img src="/images/stories/9point2.jpg"></a>
 
The gross rental yield <a href="https://www.propertyobserver.com.au/landlords/winning-richmond-cottage-in-the-block-20111-grossing-9.2-rental-yield/2011112452527" target="_blank">secured by the buyers of 39 Cameron Street, Richmond</a>, the winning property on The Block 2011. The 9.2% was its approximate gross rental yield after taking into account the estimated depreciation, which is not the normal way of calculating gross rental yield.
 
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There's now a tipping website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Brisbane properties in round two this week is <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/QLD/Gordon-Park/?adid=2009498774">22 Archer Street, Gordon Park</a>, being auctioned by Ray White. 
Noting <a target="_blank" href="https://www.propertyobserver.com.au/auctions/stark-contrast-between-brisbane-and-other-capitals-in-round-one-of-auction-tipping/2012022653556">last week's disappointing Brisbane auction results</a>, Mark Armstrong of Property Tycoon says the property "is expected to buck the passed in trend and sell under the hammer on Saturday. Agents Ray White have indicated more than 60 groups have inspected the property and multiple offers have been put forward.
"The property was last sold in 1999 for $183,000, and comparable sales suggest a price of between $700,000 to $800,000 is on the cards this time around," Armstrong says.
<img src="/images/stories/archerst.jpg">
If you think you know what it will sell for place a tip at <a href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon</a>.
 
 
 
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Brisbane weekend auction tipping

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<img style="border-style: initial; border-color: initial;" src="/images/stories/122m.gif">
How much extra revenue Westpac earns by pushing up rates by five basis points. Banks are currently making 20% return on their mortgage investments, and this is could increase to 30%.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/russell-crowe-secures-sale-second-time-around-for-potts-point-investment-title-tattle/2012030553686"><img src="/images/stories/1point5m.gif"></a>
The amount <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/russell-crowe-secures-sale-second-time-around-for-potts-point-investment-title-tattle/2012030553686">Russell Crowe paid for his Potts Point investment apartment in 2001</a>. He sold it this week on its second relisting. The sale price has not been disclosed, but it is understood to be a touch under $2 million.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/property-developer-jack-ray-and-natalie-gruzlewski-looking-elsewhere-on-mermaid-beach-despite-copping-loss/2012030553689"><img src="/images/stories/4point2mplus.gif"></a>
The amount <a target="_blank" href="https://www.propertyobserver.com.au/queensland/property-developer-jack-ray-and-natalie-gruzlewski-looking-elsewhere-on-mermaid-beach-despite-copping-loss/2012030553689">experienced developer Jack Ray's Mermaid Beach house was listed for.</a> The house sold this week, and Ray paid $5.85 million for the property in September 2008. Ray and his partner, high-profile television personality Natalie Gruzlewski, the host of The Farmer Wants a Wife, intend to buy another home on Mermaid Beach.
 
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<a target="_blank" href="/news"><img src="/images/stories/82per.gif"></a>
 
The<a target="_blank" href="/news"> spike in the number of home loan inquiries Heritage Bank received in February</a>, compared with the average number of inquiries in the previous five months. The bank says 30% of the mortgages it wrote in February were refinancing deals, with many coming from bigger bank rivals after the big four put up interest rates last week.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/hotspots-remote-inaccessible-and-with-poor-amenities-yet-rents-are-skyrocketing-in-tiny-onslow/2012030653716"><img src="/images/stories/2800gif.gif"></a>
The weekly asking rent for a four-bedroom house<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/hotspots-remote-inaccessible-and-with-poor-amenities-yet-rents-are-skyrocketing-in-tiny-onslow/2012030653716"> in the tiny, remote WA town of Onslow</a>. The mining boom town has been named an investment hotspot by Australian Property Investor magazine.
 
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<img src="/images/stories/7point46.gif">
The standard variable rate of Bank of Queensland, which is the same as the standard variable rate offered by the most expensive of the big four banks, Westpac. Bank of Queensland put up its rates this week after the RBA decided to keep the official cash rate on hold, although the bank stuck to its promise of not raising rates after the February decision.
 
<hr>
 
<a target="_blank" href="/news"><img src="/images/stories/6point75m.gif"></a>
 
The amount Fulton Transport boss Gary Fulton<a target="_blank" href="/news"> paid for ex-Equititrust managing director Mark McIvor's Gold Coast home</a>. It’s a two-storey riverfront home designed by Sydney-based architect Alex Popov on Cronin Island and did not sell at its September listing.
 
 
 
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<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

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

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

Cassidy Knowlton

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