<html><body>
Over 50% of houses in Panania, East Hills, and Picnic Point, NSW sold in 60 days or less, according to the latest report from PRDnationwide.
The report conducted a days on market analysis for houses in the 2213 postcode for the six months to June 2013.
It found 32% of houses sold in 30 days or less, and 21% of houses sold between 30 to 60 days.
Despite the optimistic figures, 28% of houses were on the market for over 120 days, suggesting that buyers were price sensitive.
Len Horne from PRD nationwide Riverview told Property Observer that Panania’s property market is doing well. 

“Listings are rather short at the moment. The average days for auction sales is 23 days, and private treaty sales average 35 days,” he said. 

Congruent with the report’s findings, Horne has found that “million dollar plus properties take longer to sell.” 

Conversely, duplexes with a price range of $630,000 to $730,000 have been “very saleable”. 

While most property buyers in Panania are owner-occupiers, Horne has noticed more investors coming into the market. In addition, he revealed an increase of buyers wanting to move into the Panania area from other suburbs.
Darren Musgrave of Professionals Padstow told Property Observer that the property market in Panania, East Hills and Picnic Point is “very strong” at the moment.
“In fact, most houses sell a lot faster, more like 30 days (on the market),” he said.
“Quality homes in the $700,000 to $800,000 range are selling really really well,” he added.
He also revealed that most home buyers in the Panania area already reside in the area, and are owner-occupiers.
Located about 23 kilometres south-west of the Sydney CBD, Panania, East Hills and Picnic Point have a total population of 20,377 according to the 2011 Census.
Musgrave added that homes in the Panania area are still very affordable compared to other suburbs within a similar radius. It is also relatively accessible via the M5 motorway, and the East Hills railway also services the area. An express train ride to the city takes less than 30 minutes.
Other amenities include the Georges River National Park, sporting grounds, recreation areas, and good schools.
According to the <a href="/news">latest RP Data report</a>, the median sale price for houses in Panania is $600,000, up 3.3% on last year. The average discount required to sell a house is 4.5%, while private treaty sales average 66 days on market.
The median asking rent for houses is $490 per week, while gross rental yield currently stands at 4.2%.
Houses that have recently sold in Panania, East Hills, and Picnic Point include:
<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-panania-113722163">29 Tyalgum Avenue, Panania</a>
The four-bedroom brick house (pictured below) sold at auction in May this year for $871,000 through Professionals Padstow. Prior to this sale, it last sold for $58,950 in 1988, according to RP Data records.
{yoogallery src=[images/stories/2013/07/july30p1]}
Houses for sale in Panania, East Hills, and Picnic Point include:
<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-picnic+point-114103579">913 Henry Lawson Drive, Picnic Point</a>
The four-bedroom house (pictured below) has been listed for sale at $899,000 through Alliance Real Estate Panania. It last sold for $666,000 in 2011, according to RP Data records.
{yoogallery src=[images/stories/2013/07/july30p2]}
It has been listed for sale since 14 June this year. It was also listed for sale in September 2011, where it spent 54 days on the market, according to RP Data records.
The house has also been listed for rent from January to March 2012, at an asking price of $420 per week, according to RP Data records.
</body></html>

dleow-BGaNPbHWyK

Over half of Panania listings sold in less than 60 days: PRDnationwide

<html><body>
The W Hotel brand could set its foundations in Australia soon if local developer Jinshan Investments has its way.  
The developer has proposed to build a 30-storey W Hotel on 20 Bourke Street (pictured below), which is currently occupied by century-old music venue Palace Theatre.  
<img src="/images/stories/2013/07/w-hoteljuly30.jpg" width="470" height="277" alt="w-hoteljuly30">
The project will cost $180 million, and will see 205 hotel rooms and 145 luxury apartments managed by the Starwood Hotel group added to Bourke Street’s east end.  
According to a Resort Publishing report, Jinshan Investments purchased the Palace Theatre at auction last year after former owners Kefi Nominees went into administration. Kefi Nominees were granted a short-term lease to continue holding concerts.  
Music fans are opposing the proposed development. At present, an <a href="https://www.thepetitionsite.com/381/189/786/save-the-palace-theatre/" target="_blank">online petition</a> has garnered some 24,000 signatures to save the Palace Theatre. In addition, a Facebook page named “<a href="https://www.facebook.com/savethepalacemelb" target="_blank">Save the Palace Theatre – Melbourne</a>” has attracted some 28,000 “likes”.  
The Melbourne Heritage group has expressed its concern about the fate of the Palace Theatre.
In a <a href="https://melbourneheritage.org.au/2013/07/07/palace-theatre-on-bourke-st/">statement</a> posted on their website, they have called for the preservation of both the 1950s art deco façade and the 1916 interiors of the theatre because of its heritage significance.  
They also emphasised the cultural importance of the iconic venue, citing its evolution “from Edwardian theatre to revivalist church to nightclub to its latest incarnation as the Palace Theatre.”  
In addition, Planning Minister Matthew Guy has told ABC news that "the developer is dreaming if he thinks the government is going to approve this in the form in which it has been submitted. It is too tall, it is in the wrong location."  
While the Starwood Group said they were not in a position to answer queries with regard to the proposed closing of the Palace Theatre, they told Property Observer, “Starwood Hotels &amp; Resorts is very excited to be involved in the Bourke Street project and bringing the W brand back to Australia.”
</body></html>

W Hotel set for site of Melbourne's iconic Palace Theatre

<html><body>
A purpose-built student accommodation property in North Melbourne has been listed for sale.
The <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-north+melbourne-500822239" target="_blank">Jones Lang LaSalle</a> marketing gives a projected net income of $4.6 million for this year. 
RMIT Village, located at 5-17 Flemington Road, can house up to 456 residents in 229 apartments of various configurations. One-bedroom, two-bedroom, three-bedroom, and five-bedroom apartments are available for rent in either 44 or 52-week terms.   
Facilities on site include a gym, pool, study area, games room, bike storage, and a licensed café. It is managed by the Campus Living Villages Fund, which is in turn managed by the Transfield Holdings Group.  
Established in 2007, the Campus Living Villages Fund manages 35,000 beds in Australia, New Zealand, the United Kingdom and the United States as of 12 June this year. Of this, 9,100 beds are located in Australia.  
<img alt="northmelbournejuly29" src="/images/stories/2013/07/northmelbournejuly29.jpg" width="470" height="264">
The RMIT Village used to be the Old Melbourne Hotel. It is close to Melbourne University and is about 15 minutes away from RMIT.  
The hotel was purchased for $40 million in 2005, and converted into student accommodation by the vendors, Transfield and private developer Tuscan Corporation. The estimated end value of the converted property was $60 million, and the property is expected to attract interest of that value.  
<img alt="northmelbournejuly29two" src="/images/stories/2013/07/northmelbournejuly29two.jpg" width="470" height="220">
Jones Lang Lasalle director of student accommodation Conal Newland told Property Observer that the property has been “100% full for the last three years”.  Conal Newland has the property listed with colleague Noral Rich with offers due by August 28.
Newland revealed that 9% of students in Melbourne currently live in purpose-built student accommodation. In comparison, 21% of students in London take up purpose-built student accommodation properties.  
<img alt="northmelbournejuly29three" src="/images/stories/2013/07/northmelbournejuly29three.jpg" width="470" height="265">
“All things being equal, there is a significant shortage of purpose-built student accommodation in Melbourne. This is no different to most of the other major Australian cities,” Newland said.  
“This is a unique opportunity – this property is up and running, and there haven’t been many opportunities like this in the market so far,” Newland added.  
Brisbane-based student accommodation provider The Pad, which currently manages 1,500 beds, recently announced expansion plans to Sydney, Melbourne, and Canberra. This follows the backing of investment group Telopea Capital Partners.
Offers close August 28 for the RMIT student accommodation.
A recent report by the Hong Kong and Shanghai Banking Corporation (HSBC) has found that Australia is the most expensive country for international study, surging ahead of the United States and the United Kingdom.
</body></html>

Investor interest sought for RMIT village student accommodation

<html><body>
A studio apartment in South Yarra was the cheapest sale on a recent auction weekend, according to Australian Property Monitors.
The unit at <a href="https://www.realestate.com.au/property-apartment-vic-south+yarra-114168607">1/631 Punt Road</a> sold for $203,500 through Hocking Stuart South Yarra.
The unit was listed with a price guide of $170,000 to $190,000.
It had been listed for rent in January last year at an asking weekly price of $260 per week.
Listing agent Nick Gatacre told Property Observer that the unit was currently rented out at $240 per week. According to the rent of $240 per week, the price reflects  a 6.13% yield.
Gatacre also told Property Observer the auction “went well”, with three registered bidders and a starting bid of $170,000.
He added that the reserve price set on the day was $190,000, and the vendor’s expectations exceeded by $13,500.
He also revealed that the successful bidder was an investor who had already purchased another unit in the building.
The 1960 block of flats at 631 Punt Road is made of up studio apartments. Recorded sales include unit 21 which sold in 2003 at $104,500, unit 26 fetched $93,000 in 2002 and unit 4 sold at $71,500 in 1997.
According to RP Data, 4/631 Punt Road was listed for sale in 2010 for $279,000, with no subsequent record of its sale. The unit 9/631 Punt Road was listed for sale in 2009 for $210,000.
In addition, asking rent for units have ranged from $237 per week to $295 per week over the past two years.
Gatacre told Property Observer that size is a considerable factor where sale prices are concerned.
“They are all studio apartments with one open area and no separate bedroom. That means they are the smallest on the food chain in terms of property you can buy.
Also, it is located on Punt Road, which is the main road. It makes it affordable for those who want to buy a property in South Yarra, and it’s pretty close to Fawkner Park,” he said.
He added that the condition and location of the unit within the building is a factor for determining asking rent.
“It depends on their condition – also, some are at the back of the block, while some are at the front,” he said.
Gatacre also said the property market in South Yarra is currently “quite strong”.
“The last two years, 2011 and 2012, were initially a little down compared to 2010.
"This year, we've seen interest rates coming down and becoming much more affordable for lending. The market's picked up due to that. Prices bottomed out towards the end of last year and slowly increased. It’s picked up and gone up since then, not dramatically, but the market's gone up a bit,” he said.
The apartments have traditionally been listed quite cheaply compared with other units in South Yarra.
According to the <a href="/news">latest RP Data report</a>, the median sale price for units in South Yarra is $522,500, down 4.6% on last year. The average discount required to sell a unit in South Yarra is 8.1%, while private treaty sales average 98 days on market.
The median asking rent for South Yarra units is $400 per week, while gross rental yield currently stands at 4%.
</body></html>

South Yarra cheapie sells for $203,500 reflecting 6% rental yield

<html><body>
A PRD nationwide report has revealed a measured increase in demand for houses in the Liverpool government area in New South Wales, which includes Liverpool, Hoxton Park, Casula, Prestons, Warwick Farm, Moorebank, and Lurnea.  
The report shows a 5.9% increase in demand for houses in the six months to April 2013, as well as a 6.1% increase in median house price in the 12 months to April 2013, to $472,000.    
In spite of an increase in median price, houses in the Liverpool area remain affordable in comparison to the Greater Sydney median of $684,000.  
The report cited infrastructure improvements as the main reason for an increased interest in Liverpool’s property sector.
These improvements include an upgrade to the rail network and expansion to existing health and retail facilities in the area.  
Stuart Zullo of Professionals Paradise Realty Casula told Property Observer that demand for houses in the Liverpool area is outstripping supply.  
“A lot of people are looking to buy. In the last 12 months I would say there has been a 4 to 5% increase,” he said.  
He added that activity in the Liverpool area was made out of different groups of buyers, including investors, people looking to change properties, and first-time home-buyers.  
“There are investors coming back into the market which we haven't seen for quite some time,” he said.  
Zullo agreed that infrastructure improvements in Liverpool have attracted buyers and investors to the area. He also cited improvements to the M5 motorway as well as connectivity to central Sydney via the M7 motorway as key factors.  
Located 32 kilometres south-west of the Sydney CBD, Liverpool has been a major centre in Greater Western Sydney.  
The 2011 Census showed that 4.9% of residents have an Indian background and 4.3% of residents have a Lebanese background, indicating that the Liverpool area is rather diverse culturally.  
Zullo also added that Liverpool has traditionally been a “lower demographic” suburb. As such, rising interest rates in the last few years have affected activity in the area.  
“With interest rates coming down, that is a driving factor. If interest rates stay low, the market progresses in the area,” he said.  
Conversely, Property Observer reported earlier this month that <a href="https://www.propertyobserver.com.au/residential/greater-western-sydney-replaces-gold-coast-as-most-delinquent-region-fitch/2013070262884" target="_blank">the Fairfield-Liverpool region has regained the title of most mortgage delinquencies in Australia</a>.  
According to the latest RP Data report, the median sale price for houses in Liverpool is $410,000, up 1.2% on last year. The average discount required to sell a house is 9.3%, while private treaty sales average 72 days on market.  
The median asking rent for houses in Liverpool is $380 per week, while gross rental yield is 4.8%.  
Houses that have sold recently in the Liverpool local government Area include:  
<a href="https://www.realestate.com.au/property-house-nsw-lurnea-114062471" target="_blank">6 Foveaux Avenue, Lurnea</a>  
The four-bedroom house (pictured below) sold last month for $460,000 through Garry Dunn Property Agents Hammondville. Prior to this sale, it last sold in 2011 for $405,000, according to RP Data records.  
<img src="/images/stories/2013/07/liverpooljuly23one.jpg" width="470" height="353" alt="liverpooljuly23one">
It was listed for sale in June this year for $469,000 and spent 22 days on market. It was also listed for sale in 2011 for “offers above $420,000” when it spent 169 days on the market, according to RP Data records.  
In addition, it was listed for rent in April last year at a weekly asking price of $460 per week, according to RP Data records.  
<a href="https://www.realestate.com.au/property-house-nsw-prestons-113906271" target="_blank">43 Stansmore Avenue, Prestons</a>  
The four bedroom house sold last month through Professionals Paradise Realty Casula for $552,000. Prior to this sale, the 321 square-metre home (pictured below) sold for $453,000 in 2007, according to RP Data records.  
<img src="/images/stories/2013/07/liverpooljuly23two.jpg" width="470" height="311" alt="liverpooljuly23two">
It was listed for sale in May this year and spent 49 days on market, according to RP Data records.  
Houses for sale in the Liverpool Local Government Area include:  
<a href="https://www.realestate.com.au/property-house-nsw-prestons-114328695" target="_blank">42 Cedars Road, Prestons</a>  
The five-bedroom brick house (pictured below) has been listed for sale with a price guide of “$475,000-$525,000” through Prudential Real Estate Liverpool.  
<img src="/images/stories/2013/07/liverpooljuly23three.jpg" width="470" height="304" alt="liverpooljuly23three">
It last sold in 1988 for $118,000, according to RP Data records.  
It has been listed for sale in 2009 for $459,000, where it spent 243 days on market. It was also listed for sale in 2006 for $499,950, and spent 8 days on market, according to RP Data records.      
</body></html>

Measured demand for houses in Liverpool: PRD

<html><body>
The historic Mebourne waterfront suburb of Williamstown has enjoying solid capital growth over the past five years, increasing by 27% to $890,000 up until the March quarter of this year, according to data from the Real Estate Institute of Victoria (REIV). 
However, growth has since slowed in the June quarter, with the median house price standing at $868,000, down by 0.2% year-on-year, and down 2.5% from the March quarter, updated REIV figures show.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/larry_uploads/williamstown.jpg" alt="williamstown" width="470" height="324">
REIV chief executive officer Enzo Raimondo told Property Observer that “the share of million-dollar home sales has nearly tripled from 12% to 33%” in the last five years.  “It peaked at around 37% of sales in June 2010 and has hovered at around 30% since then,” Raimondo said.  He added that the growth in overall median house price is reflected in the increased activity at the top end of the market.  The most expensive property sold so far in 2013 was a 4-bedroom house along the Esplanade that sold for $2.52 million.  Located 8 kilometres from the Melbourne CBD, Williamstown is a heritage area known for 1800s architecture.
Today, it is a popular area for visitors, with an abundance of cafes, restaurants and bars that overlook Hobsons Bay.  According to the latest RP Data report, the median sale price of houses in Williamstown is $911,500, up 2.4% on last year. The average discount required to sell a house is 6.9%, while private treaty sales average 81 days on market.  The median asking rent for houses in Williamstown is currently $550 per week, while the average rental yield currently stands at 3.1%.  Homes that have sold above the $1.5 million mark include:  - 41 Electra Street (pictured below), a 1850s Williamstown home sold at auction for $1.901 million through Adrian Butera of Compton Green Real Estate Williamstown and Yarraville.   The property was listed with a price guide of between $1.7 million to $1.9 million.  The five-bedroom home features both period and contemporary finishings. The front half of the home retains old-world charm with two large bedrooms, tall ceilings, an original fireplace and a character-rich loungeroom.  It was initially listed with expectations of $1.8 million to $2 million last August, according to RP Data records. 
{yoogallery src=[images/stories/2013/07/july23williamstown1]}
 - 16 Pasco Street (pictured below), which sold for $1.5 million through Sweeney Estate Agents Williamstown.  The four-bedroom two-storey Victorian home features a double frontage, an open living and dining area, as well as a designer kitchen.  It also boasts a plunge pool, as well as a barbecue area.  The house was listed for sale in May this year with a price guide of $1.4 million to $1.5 million, and spent 27 days on the market, according to RP Data records.  Prior to this, the house was also listed for sale in 1999, and spent 113 days on the market. 
{yoogallery src=[images/stories/2013/07/july23williamstown2]}
</body></html>

Williamstown house price growth slows after strong gains

<html><body>
Art deco apartments in Perth might be seeing a resurgence with a new influx of apartment living in Western Australia.
As of the 2011 Census, there are 56,754 apartments in Greater Perth, with a post-census fillip underway. This figure comprises 9.1% of the total occupied dwellings in Greater Perth.
Ten years earlier, in 2001, Greater Perth had just 42,670 apartments, which then comprised 8.3% of the total occupied dwellings for the region.
This demonstrates a growth in demand for apartment living in the last decade.
According to the 1996 Census, the whole of Western Australia had 39,914 apartments. There were 62,990 apartments in Western Australia by 2011.
Its most prominent art deco apartments have been Perth’s Lawson Apartments, and Applecross’ Raffles Hotel. The latter was owned by the late Sydney businessman Abe Saffron whose plans to demolish the property was opposed by the Art Deco Society of Western Australia.
The property was sold to developer Brookfield Multiplex in 2002 - since been preserved but with a 17-storey apartment aptly named Raffles Waterfront completed in 2006.
The latest art deco complex is in Subiaco, the Simon Chugg building at <a target="_blank" href="https://www.realestate.com.au/property-apartment-wa-subiaco-114067739">23 Railway Road </a> which was purchased by property investment group Devwest for $4,000,000, according to RP Data records.
Simon Chugg started his business in 1897 at the former premises of his father-in-law, A. E. Atkins. The business supplied funeral furniture and soft furnishings, and is one of Subiaco’s oldest retail outlets.
The developer plans to retain the façade of the art deco building, while incorporating elements of art deco architecture into the $7 million mixed-use development, named <a target="_blank" href="https://railway23.com.au/index.php">Railway 23</a>.
The five-storey development designed by local Subiaco architects McDonald Jones (and pictured below) will incorporate ground floor retail, three levels of office space, and luxury apartments on the top floor.
<img height="289" width="470" src="/images/stories/2013/07/subiacojuly17one.jpg" alt="subiacojuly17one">
One-bedroom apartments are <a href="https://www.realestate.com.au/property-apartment-wa-subiaco-114067739">priced from $575,000</a>, while two-bedroom apartments start from $875,000.
Railway 23 has attracted some opposition from the Subiaco town council, which feared the new development would be too tall and therefore overshadow the heritage value of the S. Chugg building. In addition, there were concerns that the bulk of the building would not be in line with Subiaco’s “intimate streetscape”.
However, a response by TPH heritage planner Susannah Kendall referenced a four-storey office building currently being erected next door to Railway 23.
“Requiring the height to be reduced on the basis that the existing streetscape is ‘intimate’ and ‘low density/low scale’ is misinformed and as a result is unreasonable,” Kendall said in her response.
The Simon Chugg building was sold in 1994 for $600,000, according to RP Data records.
The building was listed for rent in November 2010 at an asking price of $65,000 per annum, and in January 2010 at an asking price of $80,000 per annum.
According to the <a target="_blank" href="/news">latest RP Data report</a>, the median sale price for units in Subiaco is $621,500, up 9% on last year. The average discount required to sell a unit in Subiaco is 9.2%, while private treaty sales average 67 days on market.
The median asking rent for units in Subiaco is $600 per week, while gross rental yield currently stands at 5%.
</body></html>

Perth's art deco renaissance as apartment living takes off

<html><body>
Muswellbrook, in the New South Wales Upper Hunter, has been ranked as one of the country’s 24 “Kevlar-clad areas” that have not experienced backward movement in median price in the last 10 years. The report drew from data compiled and analysed by research house Residex.
Muswellbrook, a mining town 243 kilometres northwest of Sydney’s CBD, has seen steady growth in median property prices over the last decade, according to a report from the August edition of property investment magazine Australia Property Investor.
“It’s been excellent over the last 10 years, prices haven’t decreased, as it’s such a strong mining and agricultural area,” Jay Shepherdson, licensee of JTS Realty, told Property Observer.
John Flood Estate Agent Muswellbrook’s director Sandy Warburton, who has been dealing with Muswellbrook real estate for 18 years, agreed.
“Generally speaking, there hasn't been negative growth while there's been ups and downs in other places. We don't see great surges from year to year, but steady growth over time, over the last fifteen years,” Warburton said.
Warburton warns the figures are purely based on median house prices. He notes that buyers should also be mindful of other costs such as stamp duty and agent fees.
“People may find if they've bought and sold in a period of 12 months, that other costs make their sale unprofitable,” Warburton said.
In addition, both Shepherdson and Warburton said the Muswellbrook property market has slowed in the last six to 12 months.
“The market itself is down a little bit, probably down about 5% because a lot of the contractors have been put off before Christmas, leading up to the election,” Shepherdson said.
Warburton added that growth in the top and bottom ends of the Muswellbrook market has plateaued, while “medium-priced properties are still turning over.”
Movement in the market is currently dominated by first-time home buyers as well as investors.
“Vacancy rates have increased a little in the last six to twelve months, from under 1% to 3-4%, which is a little bit of a turnoff for investment.
This has allowed for homeowners to return to the marketplace as competition is not there from investors driving the price up.
Homeowners normally buy (properties) around the median price. With the slowdown in investment, it gives first homeowners a bit of a chance.” Warburton said.
Shepherdson added that investors who own rental properties in the area have been selling their properties, while “cashed-up” investors as well as locals who are looking to upgrade have been purchasing properties in Muswellbrook.
However, an investigation by Property Observer found properties which defy these optimistic figures.
A two-bedroom unit at <a target="_blank" href="https://www.realestate.com.au/property-duplex+semi+detached-nsw-muswellbrook-111422199">2/27 Mitchell Street</a> (pictured below) sold in May this year for $210,000. Prior to this sale, it sold in 2008 for $206,000, reflecting a $4000 price growth over five years, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellmek_aug_14_one.jpg" alt="muswellmek_aug_14_one">
The unit has also been listed for rent three times this year. It was listed in May at an asking price of $250 per week, in June for $310 per week, and in July for $290 per week, according to RP Data records.
It was also listed for rent in January 2011 at an asking price of $250 per week, with an increase in asking price in December that year to $260 per week.
In 2009, the asking rental price was $230 per week, according to RP Data records. 
Another two-bedroom unit at 6/6 Skellater Street sold in February this year for $130,000, according to RP Data records. Prior to this sale, it sold in 2009 for $123,000, reflecting a price growth of $7000 over 4 years.
It has also been listed for rent since 2011. The asking rent in 2011 was $320 per week, and grew to $360 per week in 2012. It was just listed for rent in August this year at an asking price of $250 per week, according to RP Data records.
In addition, a three-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-muswellbrook-111888159">8 Maitland Street</a> (pictured below) sold in April this year for $170,000. Prior to this sale, it last sold in 2009 for the same price according to RP data records – reflecting no price growth over four years.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_two.jpg" alt="muswellbrook_aug_14_two">
It was listed for sale in October last year at an asking price of $175,000, and spent 202 days on market. It was also listed for sale in March 2008 at an asking price of $180,000, and spent 539 days on the market, according to RP Data records.
As of the 2011 Census, Muswellbrook has a population of 11,791 people, with over 20% of them working in the coal mining industry. Coal mining as well as agriculture have traditionally dominated Muswellbrook’s industries.
Properties that have recently sold in Muswellbrook include:
<a href="https://www.realestate.com.au/property-house-nsw-muswellbrook-112685607" target="_blank">1 Jarrah Place</a> (pictured below), which sold earlier this month for $425,000 through John Flood Estate Agents Muswellbrook. Prior to this sale, the house last sold in 2008 for $425,000, in 1996 for $205,000, and in 1990 for $19,000, according to RP Data records.
It was listed for sale in October last year with a price guide of “mid-high $400,000s”, and spent 246 days on the market. It was also listed for sale in April 2008 at $439,000 and spent 231 days on market, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_three.jpg" alt="muswellbrook_aug_14_three">
Another house that sold recently was <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-muswellbrook-112528631">36 Anzac Parade</a>. The three-bedroom house (pictured below) sold for $198,000 through Premium Real Estate Services Muswellbrook in May this year. Prior to this sale, the house last sold in 2009 for $106,000, according to RP Data records.
It was listed for sale since December last year for $204,900, and spent 137 days on the market. It was also listed for sale for 33 days in January 2009, according to RP Data records.
The house has also been listed for rent at an asking price of $240 per week in May 2010, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_four.jpg" alt="muswellbrook_aug_14_four">
Properties that are currently on sale in Muswellbrook include:
<a target="_blank" href="https://www.realestate.com.au/property-townhouse-nsw-muswellbrook-114199587">2/39 Woollybutt Way</a>. The three-bedroom townhouse (pictured below) is currently listed for sale at $159,990 through LJ Hooker Muswellbrook.
It last sold in 2010 for $155,000, according to RP Data records. It was also sold in 2006 for $140,000, in 2002 for $65,000, in 1994 for $78,000, and in 1992 for $80,000, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_five.jpg" alt="muswellbrook_aug_14_five">
Prior to this listing, it was also listed for sale in May 2010 for $165,000, and spent 103 days on the market, according to RP Data records.
In addition, it has also been listed for rent. In 2009, the asking rent was $200 per week, while in 2008 the asking rent was $190 per week, according to RP Data records.
The three-bedroom house at 74 Acacia Drive (pictured below) is currently listed for sale at $339,000 through JTS Realty Muswellbrook. 
<img height="342" width="456" src="/images/stories/diane/main.jpg" alt="main">
It last sold in 2003 for $178,500 according to RP Data records. It was also sold in 1998 for $120,000, and in 1991 for $83,000, according to RP Data records.
Terry Ryder of hotspotting.com.au recently commented on "bulletproof suburbs" in a piece <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/a-suburb-can-show-consistent-gorwth-year-after-year-but-nowhere-can-be-labeled-bulletproof-terry-ryder/2013072463538">published</a> by Property Observer, stating that "nowhere is immune to downturns".
According to the <a href="/news">latest RP Data report</a>, the median sale price for houses in Muswellbrook is $331,000, up 8.5% on last year. The average discount required to sell a house is 4.7%, while private treaty sales average 89 days on market.
The median asking rent for houses in Muswellbrook is $380 per week, while average rental yield currently stands at 6%.
The median sale price for units in Muswellbrook is currently $292,500, with no change on last year. The average discount required to sell a unit in Muswellbrook is 8%, while private treaty sales average 60 days on market.
The median asking rent for units in Muswellbrook is $360 per week, while average rental yield currently stands at 6.4%.
</body></html>

Upper Hunter's Muswellbrook might not be quite so "kevlar-clad"

<html><body>
An 1850s Williamstown home sold at recent auction for $1.901 million through Adrian Butera of Compton Green Real Estate Williamstown and Yarraville.
The property was listed with a price guide of between $1.7 million to $1.9 million.
Located at <a href="https://www.realestate.com.au/property-house-vic-williamstown-111333039" target="_blank">41 Electra Street</a>, the five-bedroom home features both period and contemporary finishings. The front half of the home retains old-world charm with two large bedrooms, tall ceilings, an original fireplace and a character-rich loungeroom.
The living space features modern design with an open plan living space and expansive glass windows.
Other noteworthy features of the home includes a lush backyard with a mezzanine, evaporative cooling, hydronic heating, NSW gum spotted timber floors, and a luxurious kitchen.
It was initially listed with expectations of $1.8 million to $2 million last August, according to RP Data records.
According to the <a href="/news">latest RP Data report</a>, the median sale price of houses in Williamstown is $911,500, up 2.4% on last year. The average discount required to sell a house is 6.9%, while private treaty sales average 81 days on market.
The median asking rent for houses in Williamstown is currently $550 per week, while the average rental yield currently stands at 3.1%.
</body></html>

Historic Williamstown house fetches $1.9 million at auction

<html><body>
A Victorian era 1889-built brick office building in Melbourne’s iconic Hardware Lane has undergone some tenancy changes recently following an upgrade.

Located at<a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-500251949" target="_blank"> 67-73 Hardware Lane</a> (pictured below), the recently refurbished building boasts boutique-styled offices with timber floors, as well as French doors leading to Hardware Lane.
<img src="/images/stories/2013/07/hardwarejuly3one.jpg" width="470" height="300" alt="hardwarejuly3one">
Creative communications agency Lavender Communications, who currently occupies the second level, will be moving within the same building to level three from July 1. 
Their new premises offers a larger 182 square metre space, which will be able to accommodate a growing business. 
They have signed a two-year lease at a gross rate of $505 per square metre. The lease was negotiated through Rory White of Gray Johnson Melbourne. 
In addition, a modest rent-free incentive of two months is attached to the transfer of offices, said White. 
Level two has also been leased by Gray Johnson Melbourne, to IT business Magnetised Markets. The company will be moving from 121 Flinders Lane to the new space. Their lease stipulates a gross rate of $475 per square metre.
</body></html>

Tenancy changes for iconic Hardware Lane building

<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;

Diane Leow

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News