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Pilbara, known for its Aboriginal people, landscape, and rich mineral deposits, has seen its housing market record the highest capital gain in the country at 19.8% per annum over the last five years, RP Data national research director Tim Lawless wrote recently.  
Located in North-west Western Australia, Pilbara covers a vast area of 502,000 square kilometres and has a population of 59,894 as of the 2011 Census. Its main settlements include Port Hedland, Karratha, and Newman.  
Port Hedland is the second largest town in the Pilbara region, with a population of 4393 based on data from the 2011 Census. It is also home to one of the largest iron ore loading ports in the world, and the largest in Australia. Other major resource activities supported by Port Hedland include offshore natural gas fields, salt, manganese, and livestock.  
Resources company BHP Billiton has two separate port facilities in Port Hedland, where their principal iron ore operations are based. It also owns the Mount Newman railway which runs from Newman to Port Hedland for the purpose of carrying iron ore.  
Located about 1700 kilometres from Perth, Port Hedland is accessible via the Great Northern Highway or Northwest Coastal Highway. Flights to Port Hedland are also available from Perth and Darwin.  
Russell Pyke of First National Real Estate Port Hedland told Property Observer that the market in Port Hedland has softened, while awaiting the announcement of new projects.  
“It’s been pretty quiet for the last six months. There's a couple of developers who's still buying, [like the] <a href="https://www.royhill.com.au/" target="_blank">Roy Hill</a> [iron ore project] looking to break into market,” he said.  
He added that investors are still interested in properties in Port Hedland and South Hedland.  
According to the latest RP Data report, the median sale price for houses in Port Hedland is $1,765,196, up by 68.1% on last year. The median asking rent for houses in the area is $2,550 a week, and average rental yield stands at 7.5%.  
Houses recently sold in Port Hedland include:  
<a href="https://www.realestate.com.au/property-house-wa-port+hedland-113189507" target="_blank">55 Moore Street</a> (pictured below), sold for $1,485,000 by Hedland First National Port Hedland. Prior to this sale, the house last sold for $285,000 in 2005, $152,000 in 1997, $140,000 in 1995, and $125,000 in 1994, according to RP Data records.
<img alt="pilbarajune25one" height="345" width="470" src="/images/stories/2013/06/pilbarajune25one.jpg">
The house was also listed for sale in 2012 for $1,499,000, and also in 2005 for $302,000.  
It has also been listed for rent in 2008, at an asking price of $1,600 per week, according to RP Data records.  
<a href="https://www.realestate.com.au/property-house-wa-port+hedland-112674115" target="_blank">36 McPherson Street</a>, sold for $1,200,000 by Ray White Port Hedland. The four-bedroom house last sold for $448,000 in 2005, and for $160,000 in 2000, according to RP Data records.  
Houses for sale in Port Hedland include:  
<a href="https://www.realestate.com.au/property-house-wa-port+hedland-114085859" target="_blank">5 Harper Street</a>, listed for $899,000 by Crawford Realty South Hedland. The three-bedroom house last sold for $164,000 in 2001, $189,000 in 1997, $138,000 in 1994, $80,000 in 1993 and $45,000 in 1987, according to RP Data records.  
It has also been listed for rent at an asking price of $1750 per week since May this year, according to RP Data records.
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Port Hedland residential market softens

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A run down waterfront house in Aspendale has sold for over a million dollars, indicating that demand for waterfront properties is strong.  
The house, located at <a href="https://www.realestate.com.au/property-house-vic-aspendale-113686771" target="_blank">7 Gladstone Avenue</a>, sold at auction last month for $1,060,000 through O’Brien Real Estate Chelsea.  
Stavros Ambatzidis of O’Brien Real Estate told Property Observer that the condition of the property was not at its best.  
“It was very run down – we were just selling land value there. It wasn’t selling much more than land value,” he said.  
He added that the auction received a great response, with the final result at a higher than expected price.  
“We had about 100 people at the auction, with very strong bidding. We had 10 registered bidders.  
“It sold above $110,000 over what I expected,” Ambatzidis said.  
A report on news.com.au stated that the successful bidders were a pair of sisters who are hoping to create a dream home for their 90-year-old mum.  
Ambatzidis noted that another run down property at 1 Osprey Lane in Carrum also sold for over a million dollars recently.  
“There’s been a demand for them, as there are not many waterfront properties.  
“Waterfront properties are of a rare nature. There's really only waterfront properties that exist in the Chelsea area,” he said in response to the recent sales.  
According to the <a href="/news">latest RP Data report</a>, the median house price in Aspendale currently stands at $615,000, up 1.2% on last year. The average discount required to sell a house is 5.5%, while private treaty sales average 74 days on market.  
The median asking rent for houses in Aspendale is currently $430 per week, and the average rental yield stands at 3.6%.
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Aspendale waterfront buying interest tide rising

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Melbourne property developer Deal Corporation recently embarked on its $100 million project, Kubix.
It's been touted to offer a new way of living in Knox - assisting in helping to stop migration to the inner and middle ring suburbs.
<img alt="kubixjune18one" height="403" width="578" src="/images/stories/2013/06/kubixjune18one.jpg">
Located opposite the Westfield Knox Shopping Centre on the Stud Rd and Burwood Highway intersection in Wantirna South, the development will comprise of a three building complex with 236 apartments.
Designed by the award-winning Fender Katsalidis Architects who designed Melbourne’s Eureka Tower, <a href="https://www.kubix.com.au/" target="_blank">Kubix is expected to be a landmark development for the region</a>.
Already some 40% of stage one has been sold, Michael Radcliffe of DealCorp told Property Observer, with the display suite set to be open late June 2013, while completion is likely to be in early 2015.
<img alt="kubixjune18two" height="403" width="365" src="/images/stories/2013/06/kubixjune18two.jpg">
“Kubix was designed to appeal to one of the most rapidly emerging trends in the region – the rise of couple or single person households,” Deal Corporation managing director David Kobritz said.
The development is also designed to appeal to people downsizing from traditional homes as well as people looking to remain in the local market and young professionals living and working in the area.
Kobritz said buyer demand has been strong with construction of the first stage of the complex due to start within months following a short sales campaign. With very few large developments slated for construction, demand for smaller apartments was not being met by supply.
<img alt="kubixjune18four" height="328" width="470" src="/images/stories/2013/06/kubixjune18four.jpg">
According to data from the 2011 Census, over 26,000 Knox households had either one or two residents.
In addition, flats, units and apartments only account for 3.7 per cent of housing in Knox, with only 2053 units out of a total of over 55,000 private dwellings in the area.
Between 2006 to 2011, over 20,000 residents moved out of the City of Knox to other parts of Victoria, according to data from the Census of Population and Housing.
Kobritz suspected many people were moving because of the lack of diversity in housing options.
“The total number of apartments in Kubix will provide for just 1% of the potential population suited to apartment living so we see it as a development perfectly timed for today’s new housing options,” he said.
He said other medium density developments in Knox tended to be in-fill projects in traditional residential areas, while Kubix would offer spectacular views and provide a whole new perspective on the region.
Kobritz believes the development is also a suitable alternative for the university student housing market, therefore suiting both investors and owner-occupiers.
While Knox is widely regarded as a family suburb, Deal Corp believes there is an emerging market segment looking to downsize to a secure and convenient apartment lifestyle while remaining in the Wantirna/Knox area.
Kobritz said the trend toward apartment living was spreading out from the inner city but this was the first time it had crossed the Eastlink.
Kubix is located near five golf courses, and is also close to freeways for access to the Mornington Peninsula and the CBD.
Apartments are priced between $310,000 and $535,000.
Stage one of the development will comprise 82 one and two bedroom residences over 9 levels, complete with secure basement parking and storage.
Already some 40% of stage one has been sold, according to the website, with the display suite set to be open late June 2013, while completion is likely to be in early 2015.
According to the <a href="/news">latest report by RP Data</a>, the median sale price for units in Wantirna South is $415,000, up 5.1% on last year. The average discount required to sell a unit is 7.8%, while private treaty sales usually average 44 days on market.
The median asking rent for units is $370 a week, while average rental yield stands at 4.6%.
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Fender Katsalidis-designed Kubix in Knox targets downsizers and young professionals

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Investors in the LM Performance Fund (LMPF), of which Pimpama development Maddison Estate is a large asset, are at risk of not getting their investment back if trustees are unable to refinance a loan to Suncorp.
In an update released by KordaMentha, <a href="https://www.propertyobserver.com.au/queensland/trustees-appointed-to-gold-coast-based-lm-managed-performance-fund/2013041560407">the LMPF trustee appointed by the Supreme Court of Queensland</a>, Suncorp has stipulated a 30 June 2013 deadline for repayment of a $22 million loan.
LMPF was due to pay Suncorp in March this year but failed to meet the deadline.
Failure to repay this loan may result in Suncorp appointing a receiver to sell the property. The update also emphasised that the return of the existing $250 million investment in the fund will be minimal, and may be nil.
KordaMentha has advised that while the fund holds security over the development, it does not control the landowner, Coomera Ridge Pty Ltd, or the development.
LMIM founder Peter Drake has since provided KordaMentha access to the books and records of the developer, Maddison Estate Pty Ltd, as well as the Maddison Estate development.
KordaMentha and the developer have revised plans for Maddison Estate. It will now be a basic residential subdivision, without star-studded facilities such as a wave pool, volleyball courts, and aquatic centre as previously planned.
With the new master plan, KordaMentha engaged Knight Frank and Colliers International to review the revised layout. Both organisations recommended a decrease in price for developed lots, and a revision in revenue escalation rates.
The update added that previous revenue rate assumptions “were significantly overstated”.
Maddison Estate, a $1.5 billion Gold Coast Queensland residential community project, was marketed as setting residential community estate benchmarks.
With its strong focus on sporting facilities, the developer has attracted celebrity endorsements from the likes of Olympians Sam Riley, Natalie Cook, as well as world champion surfer Kelly Slater.
However, the podium finish success of Maddison Estate at Pimpama could be a long time off.
<img height="235" width="470" src="/images/stories/2013/05/may3maddison/6.jpg" alt="6">
Property Observer has reported previously that Maddison Estate is a major asset of the LM Performance Fund (LMPF), managed by LM Investment Management (LMIM), whose founder is Peter Drake.
 
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LMIM has recently entered into voluntary administration. The Supreme Court of Queensland has appointed KordaMentha and its affiliate firm Calibre Capital as joint trustees of the LMPF. Previously, John Park and Ginette Muller were appointed voluntary administrators of LMIM on March 19.
<img height="235" width="470" src="/images/stories/2013/05/may3maddison/20.jpg" alt="20">
Most of the $350 million invested in LMPF came from overseas investors, some in Malta.
Investors in the fund have a 60% exposure to Maddison Estate through a $234 million second mortgage, with a smaller $22 million first mortgage to Suncorp, which expired in March.
Property Observer also reported that a “steady stream” of investors are planning to lodge a class action suit against financial planners who recommended they invest in mortgage funds issued by LMIM.
<img height="263" width="470" src="/images/stories/2013/05/may3maddison/21.jpg" alt="21">
LMIM claimed to have $3 billion in funds under management with investors in 73 countries, according to the Gold Coast Bulletin.
The ABC’s Four Corners reported that LMPF was marketing the fund as a “bank-like facility”, but the claim was withdrawn by LMPF “as soon as it realised the potential for confusion.”
Pimpama, which is 30km north of Surfers Paradise, is the last remaining rural town on the Pacific Motorway between Brisbane and the Gold Coast. That was set to change with Maddison Estate and its landscaping by Jamie Durie.
Maddison Estate covers 118 hectares and has plans for about 2500 dwellings and 800 lots of land. It aims to house 3500 residents upon completion.
In addition to 2500 square metres of retail space, 37 hectares of parkland including 30 hectares of environmental reserve have also been planned.
The parkland was to be divided into six different parks, with a sports focus. According to Maddison Estate’s website, the project’s vision was created “in the spirit of developing our next generation of Olympians and in the lead up to the 2018 Commonwealth Games”.
As such, collaborations with Riley, Cook (pictured below), and Slater should not have been any surprise. Indeed Cook’s association with LMI began when Peter Drake financed her journey to the Beijing Olympic Games in 2008. She was slated to create a sandstorm beach volleyball park in Maddison Estate’s Central Park.
<img height="460" width="450" src="/images/stories/2013/05/may3maddison/24.jpg" alt="24">
 
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Riley, who runs six swim schools in Brisbane at present, also planned to open the first Gold Coast Sam Riley Swim School in the estate’s Central Park.
Property Observer could not ascertain at press time if Cook and Riley are still tied to the Maddison Estate project, but presumes their engagement is no longer required.
While the world’s first Kelly Slater wave pool was also marketed as a huge part of the project, Surfing Life reported in March this year that the “Kelly Slater Wave Company had entered into ‘an exclusive Memorandum of Understanding,’ to build one of its wave pools on the site, but no contracts had been signed and no money had changed hands.”
Slater also told Surfing Life, “…we aren't actually in business with Maddison as of now, and have been waiting to really understand what the truth of the whole matter is with the company anyway.”
Even with revisions from KordaMentha, Maddison Estate’s Facebook page still shows updates from November last year linking them to the Kelly Slater wave pool.
The project was meant to create an additional 3,500 construction jobs, as reported by the Gold Coast Bulletin.
LMPF’s latest financial report has stated that building companies Ausbuild, Clarendon Homes, Metricon and Plantation Homes have signed agreements with Maddison.
However, a check by Property Observer has found that all links between Ausbuild and Clarendon Homes to Maddison Estate have been taken offline. Metricon’s website has no link to Maddison Estate as well, although Plantation Homes had three listings on realestate.com.au for three seperate lots on the property.
LMIM first took control of the Maddison Estate project in 2010, after a joint venture with Young Land Corporation fell through, as reported by goldcoast.com.au in August that year. Under the partnership, the project was then named Arrowtown.
Coomera Ridge Pty Ltd, where Drake is the sole director, owns around 30 sites in Pimpama. These sites were mostly purchased between 2006 and 2009 according to RP Data records for $89 million, as reported by the ABC.
The Gold Coast City Council moved to speed up Maddison Estate’s approval process in August last year, as reported by ABC News. In October last year, the Australian Financial Review reported that the project had won preliminary approval, with the first 150 lot stage been fully approved.
According to the Maddison Estate January 2013 Project Update, bulk earthworks commenced, paving the way for the first 140 lots. Delivery of the first 29 lots and the first stage of Central Park is anticipated for later this year.
In February this year, a press release stated that the first phase of tree clearing and demolition works were completed, and bulk construction had commenced.
Multiple attempts to contact Maddison Estate’s site office to determine the current state of construction were unsuccessful.
The directors of the LMPF include Peter Charles Drake, who is the founder of LM Investments Management (LMIM), Eghard van der Hoven and Francene Maree Mulder, who both sit on the directorship of LMIM, as well as Katherine Phillips, who became the director of LMIM UK Limited in 2007.
While little is known about Drake and van der Hoven, Mulder has held several managerial positions in commercial mortgages, conveyancing, and the property sector, according to zoominfo.com. She is currently the Executive Director, General Manager Distribution and Product of LMIM.
Phillips was the director of LMIM UK Limited from 2007 to June 2012. In July 2012 she was appointed the director of the LMPF.
According to LMPF’s latest financial report, it has continued to pay investor redemptions, which make up 6% of Funds Under Management. This is a significant decrease from “a high of just under 40%” of redemptions.
At the time, the fund met the objective of maintaining investor capital, and “declared investor returns of 3.00%p.a. to 5.00%p.a. over cash rates whilst maintaining full capital value”.
The report also stated that management fees paid to LM Administration Pty Ltd by the LMPF totaled $11.36 million for the 2012 financial year, up from $1.39 million for the 2011 financial year.
LMPF stated in the report that the amount represents 3.1% of average net assets of the fund, and that it is a “pre-planned increase in management fees is reflective in the growth of assets in the Fund and allows the Manager to employ additional resources required to properly manage the assets to the benefit of the investors”.
The report also adds that the LMPF pays LM Administration Pty Ltd is paid an administration fee of 5% per annum directly from the scheme’s assets.
A disclosure update for LMPF was posted on 31 January 2013, stating that the fund’s assets totalled AUD$401 million.
The disclosure statement notes that commercial loans total $385 million, with the largest mortgage totaling $240 million.
 
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Back to basics for troubled $1.5 billion Maddison Estate

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Greater western Sydney has - not surprisingly - emerged as a hotspot for population and building growth, according to the latest Housing Industry Association (HIA) report.
Three out of the top five statistical areas on the NSW building and population hotspot list were located in greater western Sydney. Parklea-Kellyville Ridge and Homebush Bay-Silverwater were the top two areas in New South Wales in terms of population growth, with Parklea-Kellyville growing by 10.2% and Homebush Bay-Silverwater by 9%.
Both suburbs were also amongst the national top 20 building and population hotspots, in positions thirteen and eighteen respectively.
Kellyville was fifth on the NSW list, citing population growth of 3.1%.
Property Observer <a href="https://www.propertyobserver.com.au/new-south-wales/hotspots-from-fibros-to-mcmansions-western-sydney-attracting-investor-attention/2012012953164">reported</a> in January this year that western Sydney has been attracting investor attention, largely due to affordable housing especially in comparison to inner Sydney, new residential developments, as well as businesses moving into the area.
Douglas Driscoll, CEO of Starr Partners, expects the western Sydney market to get stronger with new suburbs and shopping districts appearing, businesses establishing and settling in the area, transport connections improving and large master-planned residential developments are appearing. “No other area in Sydney is seeing that amount of change so quickly,” he said in January.
Western Sydney also registered the highest sales activity in New South Wales in 2012, as <a href="https://www.propertyobserver.com.au/new-south-wales/sydney-house-prices-up-61-over-2012-but-little-growth-in-the-western-suburbs-reinsw/2013030759770">reported</a> by Property Observer in March this year.
Simon Pressley also <a href="https://www.propertyobserver.com.au/new-south-wales/greater-western-sydney-is-spruiked-as-a-gold-mine-but-investors-should-be-wary-simon-pressley/2013041660434">highlighted</a> western Sydney’s investor potential in Property Observer in April this year. He mentioned western Sydney’s dense population and diverse demographic may influence property values.
The Parklea-Kellyville Ridge statistical area saw the largest and fastest growth in the state, with an increase of 2300 residents according to the Australian Bureau of Statistics (ABS). The value of residential building work approved was $182.1 million.
Parklea-Kellyville Ridge is located approximately 40 kilometres north-west of the Sydney CBD. According to the latest census report, the median age of people in the area was 31 years, with children aged 0-14 years making up 27.7% of the population. This indicates that young families populate the area.
Some 57% of residents in the Parklea-Kellyville Ridge area were born in Australia. 9.1% of the population have an Indian background, while 6.1% of the population have a Filipino background. In addition to English, languages spoken at home included Hindi, Punjabi, Tagalog, Filipino, and Arabic, indicating Parklea-Kellyville Ridge is a culturally diverse area.
 
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According to the <a href="/news">latest RP Data report</a>, the median house price in Parklea currently stands at $549,500, up 0.5% on last year. The average discount required to sell a house is 5.1%, while private treaty sales average 57 days on market. The median asking rent for houses is $550, while average rental yield stands at 5.2%.
The median unit price in Parklea currently stands at $390,000. The median asking rent for units is $470, and average rental yield currently stands at 6.2%.
The median house price in Kellyville Ridge currently stands at $610,000, up 3% on last year, according to the <a href="/news">latest RP Data report</a>. The average discount required to sell a house is 5.2%, while private treaty sales average 85 days on market. The median asking rent for a house is currently $600, with an average rental yield of 5.1%.
The median unit price in Kellyville Ridge is currently $422,500, up 6.8% on last year. The median asking rent for a unit is currently $420, with an average rental yield of 5.2%.
The Homebush Bay-Silverwater statistical area saw an additional 1100 residents in 2011-2012, according to the ABS. The value of residential building work approved in the area was $276.4 million.
Homebush Bay-Silverwater is located approximately 16 kilometres west of the Sydney CBD. According to the latest census report, the median age of people in the area was 33 years, with children aged 0-14 years making up 17.2% of the population.
Homebush Bay-Silverwater is home to people of various backgrounds, with 47% of Australian-born residents making up the population. 8.5% of the population have a South Korean background, and 6.1% of the population have a Chinese background, indicating that Homebush Bay-Silverwater is a culturally diverse area as well.
According to the latest RP Data report, the median house price in Silverwater currently stands at $540,000, up 3.8% on last year. The average discount required to sell a house is 5.8%, while private treaty sales average 52 days on market. The median asking rent for houses is $420 a week, while average rental yield stands at 4.0%.
The median unit price is Silverwater currently stands at $410,000, down 8.9% on last year. The average discount required to sell a unit is 9.0%, while units average 112 days on market. The median asking rent for unit is $490 a week, while average rental yield stands at 6.2%.
The Kellyville area saw population growth of 3.1%, and the value of residential building work approved in the area was $208.1 million.
Kellyville is located approximately 36 kilometres north-west of the Sydney CBD. According to the latest census report, the median age of people in the area was 34 years, with children aged 0-14 making up 25.4% of the population, indicating the area is home to a number of young families.
While majority (63.6%) of Kellyville residents are born in Australia, it is also home to a number of residents who were born in England (3.7%), India (3.0%), South Africa (2.3%), Philippines (2.3%), and Sri Lanka (1.8%). 35.4% of households in Kellyville also report speaking two or more languages at home, according to data from the ABS.
According to the <a href="/news">latest RP Data report</a>, the median house price in Kellyville currently stands at $680,500, up 4.7% on last year. The average discount required to sell a house is 6.0%, and private treaty sales average 78 days on market. The median asking rent for houses is $620 a week, while the average rental yield is 4.7%.
The median unit price in Kellyville currently stands at $547,500, up 2.3% on last year. The average discount required to sell a unit is 2.6%, while private treaty sales average 70 days on market. The median asking rent for unit is $550 a week, while the average rental yield is 5.2%.
 
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Kellyville among Sydney's top new home suburbs: HIA

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Prices of units and townhouses on the Sunshine Coast have fallen despite an increase in sales activity, according to the latest data report by the Real Estate Institute of Queensland (REIQ).
The report found that the median price of units on the Sunshine Coast have declined by 1.5% from last year’s $340,000 to March’s $335,000, with no change in the March quarter.
This is despite an increase of 22.6% in sales activity of units and townhouses compared to the March quarter last year.
It also revealed a significant increase in the numbers of unit and townhouse sales priced between $350,000 and $500,000.
“Many of these areas have become more affordable, even those with unique seaside locations, so this is no doubt spurring buyers into action before the tide has turned to the positive completely,” <a href="https://www.reiq.com/" target="_blank">REIQ</a> chief executive Anton Kardash said.
Reports of price declines on the Sunshine Coast and Gold Coast are nothing new.
In January 2012 the two struggling coastal markets received national media attention when <a target="_parent" href="https://www.propertyobserver.com.au/residential/kochie-to-property-investors-avoid-catastrophic-gold-and-sunshine-coasts/2012011953058">Channel Seven Sunrise host David Koch</a> outraged Gold Coast and Sunshine Coast estate agents and developers by describing them as “catastrophes”.
Sunshine Coast suburbs that recorded significant declines in prices included Noosa Heads, according to the REIQ data.
Noosa Heads recorded 35 unit sales for the March quarter, with the median unit price at $520,000, representing a 10% decrease from the last quarter.
The annual median unit price in Noosa Heads stands at $480,000, representing a 15.4% decrease on last year’s $567,500. The REIQ emphasised that median prices in Noosa Heads have been affected by the varying quality of stock sold, and the number of waterfront properties sold.
Noosa Heads units for sale include:
<a href="https://www.reiq.com/Apartment-Unit/for-sale/noosa-heads/2480908.aspx" target="_blank">Unit 10/28 Viewland Drive</a>, a two-bedroom apartment (pictured below) listed for $495,000 by Robert James Realty. It last sold for $315,000 in 2003, and $107,500 in 1991, according to RP Data records.
<img alt="sunshinejune12one" height="353" width="470" src="/images/stories/2013/06/sunshinejune12one.jpg">
Other suburbs that recorded declines of between six to nine per cent included Kings Beach and Maroochydore.
Kings Beach recorded 18 unit sales for the March quarter, with the median unit price at $290,000, representing an 18.3% decrease from the last quarter.
The annual median unit price stands at $330,000, representing a 9.6% decrease on last year’s $365,000. The REIQ highlighted that median prices in Kings Beach have been affected by the varying quality of stock sold, and the number of waterfront properties sold.
Kings Beach units that were sold in the March quarter include:
<a target="_blank" href="https://www.realestate.com.au/property-unit-qld-kings+beach-112768827">2/14 Levuka Avenue</a>, a two-bedroom unit (pictured below) was listed by Caloundra City Realty. It sold for $267,000 according to RP Data records.
<img alt="sunshinejune12two" height="353" width="470" src="/images/stories/2013/06/sunshinejune12two.jpg">
Prior to this sale, the apartment last sold for $122,500 in 2000. It was also sold in 1994 for $130,000, and also in 1993 for $117,500, according to RP Data records.
 
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Maroochydore recorded 62 unit sales for the March quarter, with the median unit price at $310,000, down 6.1% from the last quarter.
The annual median unit price stands at $319,000, representing a 6.2% decrease on last year’s $340,000.
Sunshine Coast suburbs that recorded significant price growth included Golden Beach and Coolum Beach.
Golden Beach recorded 17 unit sales for the March quarter, with the median unit price at $305,000, representing a 7.6% decrease from last quarter.
The annual median unit price stands at $320,000, representing a 26.0% increase on last year’s $254,000.
Golden Beach units for sale include:
<a target="_blank" href="https://www.reiq.com/Apartment-Unit/for-sale/golden-beach/2491162.aspx">Unit 26, 2 Landsborough Parade</a>, a two-bedroom apartment (pictured below) listed for $249,000 by Ray White Caloundra. It last sold in 2008 for $270,000. The apartment was also sold in 2004 for $230,000, in 2003 for $165,000, in 2002 for $120,000, in 1999 for $91,000, and in 1991 for $144,450, according to RP Data records.
<img alt="sunshinejune12three" height="353" width="470" src="/images/stories/2013/06/sunshinejune12three.jpg">
Coolum Beach recorded 17 unit sales for the March quarter, with the median unit price at $338,500, representing a 19% decrease from last quarter.
The annual median unit price stands at $359,000, representing an 8.1% increase on last year’s $332,000.
Coolum Beach units for sale include:
<a target="_blank" href="https://www.reiq.com/Apartment-Unit/for-sale/coolum-beach/2493781.aspx">6/1714 David Low Way</a>, a one-bedroom unit listed for $329,000 by Coolum Beach Real Estate. The unit last sold in 2005 for $320,000, and in 1990 for $97,000, according to RP Data records.
The unit was listed for sale last year for 71 days, at $329,000. It was also listed for sale in 2005 for 22 days, at $340,000.
The unit’s asking rent stands was $250 per week in 2009 and again in 2010.
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Sunshine Coast unit prices still falling: REIQ

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Property developer Piccolo has acquired the Elwood RSL Club for $6.275 million.
The site (pictured below), advertised via public tender, sold through Chisholm &amp; Gamon Elwood.
<img alt="elwoodjune18one" height="253" width="470" src="/images/stories/2013/06/elwoodjune18one.jpg">
Sam Gamon of Chisholm &amp; Gamon Elwood told Property Observer the site received about 38 submissions.
“That’s a really healthy sign for the popularity of the property market in the area," Sam Gamon said.
<img alt="elwoodjune18two" height="246" width="470" src="/images/stories/2013/06/elwoodjune18two.jpg">
"It exceeded our expectations, with a landmark result for the area.
"It’s a real landmark because of its corner location.
"It’s a gateway to Elwood,” he said.
 
<hr class="system-pagebreak">
The Elwood RSL opened soon after the World War II as a meeting place for ex-servicemen.
The property was originally a weatherboard house, Brett Gamon of Chisholm &amp; Gamon Elwood told Property Observer.
“In 1959, the members raised sufficient funds to build a new building on the site.
Over the years, it was fundamentally a meeting place for ex-servicemen. As time continued on, it became a social club as well,” he said.
Locals enjoyed the facilities available at the club, including a restaurant and a gaming area.
The Elwood RSL ceased operations in August last year, citing financial difficulties.
“Dwindling membership in terms of servicemen did become a problem for the club, [as well as] the aging building, and the number of people visiting the club. It got to the point where it had to rationalised and it was eventually sold,” Gamon said.
This will be Piccolo’s first Elwood development, after completing over 500 apartments in the last decade.
Last year, Property Observer <a href="https://www.propertyobserver.com.au/developments/piccolos-upper-house-carlton-apartment-complex-secures-70-sellout-after-10-weeks/2012112158011">reported</a> that their latest project, Upper House in Carlton, has achieved significant sales success.
It has since almost sold out.
The developer is also responsible for the Garden House luxury apartments opposite Carlton Gardens.
Piccolo plans to create a mixed-use Elwood development consisting of ground-floor restaurants and luxury apartments.
Located on the corner of Pine Avenue and Ormond Road, the 1,404 square metre site is in a prime position, and is accessible from three sides.
“We are thrilled with the acquisition of this sought after site in Elwood," Piccolo director Michael Piccolo said.
Victorian RSLs has been quite active in the property market in recent years. The RSL sold an 1895 Windsor Place property in the city for $2.4 million as well as its St Kilda West branch for $3 million approximately two years ago, according to a recent report by The Age.
 
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Property developer Piccolo acquires the Elwood RSL Club for $6.275 million

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A two-bedroom Glenroy apartment was the weekend’s most affordable sale in Victoria, selling for $290,000 according to Australian Property Monitors.
 
Located at <a href="https://www.realestate.com.au/property-unit-vic-glenroy-113765807" target="_blank">2/167 Glenroy Road</a>, the apartment sold at auction on June 8 through Raine &amp; Horne Glenroy.
 
Sebastian Rello of Raine &amp; Horne Glenroy told Property Observer that the apartment was previously on the market at $285,000, and that the reserve price stood at around $280,000.
 
He also said there were four registered bidders present at the auction. The successful bidder was an owner-occupier,<a name="_GoBack" href=""></a> who was also a first-time homebuyer.
 
According to RP Data records, the apartment had been listed for sale in May this year at “$250,000 plus”. It has been offered for sale in 2005 for 160 days at $212,500, and also in 2003 for $150,000.
 
Rello also told Property Observer the market in Glenroy is “quite buoyant”.
 
“We’ve been getting a lot more enquiries. A lot of people are coming through for inspections. It’s definitely a lot better than what it was last year, we’re getting bigger crowds and more bidders if the price is right,” he said.
 
Based on Raine &amp; Horne’s estimated $320 rent a week, the price reflected a likely rental yield of 5.74%, higher than the average rental yield in Glenroy which currently stands at 4.6%.
 
According to the <a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=ipFTTsgz2kGm1K-MLQruBYOdgpjiOdAIlEbLmsNkHOgAzjnB4XTscHpJ7i5OtKkKOa3R1lURX2U.&amp;URL=http%3a%2f%2fwww.propertyobserver.com.au%2fdata%2fsuburb%2fglenroy-vic" target="_blank">latest report by RP Data</a>, the median sale price for units in Glenroy is $339,250, down by 14.1% on last year. The average discount required to sell a unit is 7.8%, while private treaty sales average 109 days on market.
 
Other two-bedroom apartments for sale in Glenroy include: <a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=ipFTTsgz2kGm1K-MLQruBYOdgpjiOdAIlEbLmsNkHOgAzjnB4XTscHpJ7i5OtKkKOa3R1lURX2U.&amp;URL=http%3a%2f%2fwww.realestate.com.au%2fproperty-unit-vic-glenroy-113480327" target="_blank">3/31 Prospect Street</a>, listed for $370,000 by D’Aprano Real Estate Ascot Vale.
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Glenroy two bedroom unit $290,000 sale to first home buyer

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State governments have been paying more attention to fire levies, as questions have been raised about funding fire services. This issue concerns the community as well as bringing up tax issues for property owners and investors.
Victoria is implementing a new fire levy system, called the fire services property levy, as of July 1, 2013. Property owners will now pay for the fire services property levy as part of their council rates notices, which will be issued by councils from July 2013.
New South Wales is also looking to move from an insurance-funded fire service to a broad-based property tax.
Queensland has also implemented plans to re-brand the fire levy to an “emergency management, fire and rescue” levy as of January next year, which will be applied to all rateable properties. The levy will also be increased by 6.5% at the same time.
ACT will increase the levy amount to $120, from $104.80 previously.
In WA, the minimum charge for the emergency services levy will increase to $60, from $57 previously.
South Australia’s emergency services levy will see the prescribed levy rate change from 0.001027 to 0.001108 for the 2013-14 financial year.
Northern Territory residents do not pay a fire levy as fire services are funded directly from consolidated revenue.
Tasmanian residents can expect to pay an additional 4% in the coming financial year for fire service contributions.
--
Victoria
The Victorian Government implemented a new fire levy system as of July 1 2013 after recommendations from the Victorian Bushfires Royal Commission.
The current Victorian fire services levy will be removed from insurance premiums. The fire services property levy will be in its place, and property owners will pay for it through their council rates notices.
All property owners will need to contribute a minimum of $100 a year to fund Victoria’s fire services. Previously, only those with adequate insurance contributed to the fire levy.
A charge of $100 will apply for residential property owners, and $200 will apply to non-residential properties. On top of this, a variable cost calculated according to the property’s capital improved value and the area’s designated fire service will apply.
The levy rate will vary for residential, industrial, commercial, and farming properties, while separate levies will be charged in the Metropolitan Fire Brigade (MFB) and Country Fire Authority (CFA) areas as there are different costs associated with funding each service.
MFB variable rates (cents per $1000 of capital improved value)
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;"><tbody>
<tr>
<td>
Property Sector
</td>
<td width="60">
MFB
</td>
</tr>
<tr>
<td>
Residential
</td>
<td width="60">
6.9
</td>
</tr>
<tr>
<td>
Commercial
</td>
<td width="60">
60.7
</td>
</tr>
<tr>
<td>
Industrial
</td>
<td width="60">
95.0
</td>
</tr>
<tr>
<td>
Primary production
</td>
<td width="60">
17.3
</td>
</tr>
<tr>
<td>
Public benefit
</td>
<td width="60">
6.9
</td>
</tr>
<tr>
<td>
Vacant (excluding vacant residential land)
</td>
<td width="60">
6.9
</td>
</tr>
</tbody></table>
CFA variable rates (cents per $1000 of capital improved value)
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;"><tbody>
<tr>
<td>
Property Sector
</td>
<td width="60">
CFA
</td>
</tr>
<tr>
<td>
Residential
</td>
<td width="60">
11.5
</td>
</tr>
<tr>
<td>
Commercial
</td>
<td width="60">
109.2
</td>
</tr>
<tr>
<td>
Industrial
</td>
<td width="60">
170.9
</td>
</tr>
<tr>
<td>
Primary production
</td>
<td width="60">
31.2
</td>
</tr>
<tr>
<td>
Public benefit
</td>
<td width="60">
11.5
</td>
</tr>
<tr>
<td>
Vacant (excluding vacant residential land)
</td>
<td width="60">
11.5
</td>
</tr>
</tbody></table>
Residents will pay the levy according to the capital improved value of a property. According to the Department of Planning and Community Development, the capital improved value of a property is “the total market value of the land plus buildings and other improvements”.
The levy will be paid through council rates, and not from insurance premiums as previously implemented.
Non-rateable properties will be issued a separate notice. GST and stamp duty will also no longer be charged on the levy.
First, determine if your property is located in the MFB or CFA region.
Then select your classification code, which is included in your rates notice.
Then enter your Capital Improved Value, also included in your rates notice.
<img height="296" width="470" src="/images/stories/2013/06/leviesjune26one.jpg" alt="leviesjune26one">
For instance, if you live in a region that requires the services of the Metropolitan Fire Brigade (MFB), in a residential property whose capital improved value is $450,000, and do not currently hold a Pensioner Concession Card, based on the calculator available on the Victorian Fire Levy website the fire levy will cost about $131.05 per annum.
More information is available on the <a href="https://www.firelevy.vic.gov.au/">Victorian Fire Services Property Levy website</a>.
--
New South Wales
Similarly, the NSW government is looking to move the point of payment from insurance premiums to a broad-based property tax.
With the introduction of the proposed fire levy, every property owner will now have to contribute to the total cost of running the Fire &amp; Rescue service.
A report by Fairfax Media estimated that some 36 per cent, or 810,000 households who currently do not have home contents insurance will have to pay the fire levy for the first time.
The main difference between New South Wales and Victoria’s fire levy comes from the base on which the levy is calculated.
The NSW government has announced there will be <a href="https://www.theage.com.au/business/property/tips-for-a-fire-levy-thats-fair-20130607-2nvl3">no move to capital-improved valuations</a>. A <a href="https://www.propertyobserver.com.au/https://engage.haveyoursay.nsw.gov.au/document/show/352">discussion paper</a> on the fire services levy released last year proposed an annual charge of up to $267 on land valued at $250,000, based on applying a rate of $1.07 per $1000 of land value.
At present, people contribute to the Fire and Rescue NSW when they pay their insurance. The insurance company shows a separate amount on their invoice notice, which they call "fire service levy".
According to the Fire and Rescue NSW, this amount is only an estimate of what insurance company itself will pay, as they are not required to reconcile what they show on premiums and the amount they actually remit.
The annual cost of running Fire &amp; Rescue NSW is $645 million as of the 2011/2012 financial year. Three quarters of the cost was paid for by implementing taxes on insurance companies, which they passed onto home contents insurance policy holders by charging higher premiums.
The remaining one quarter was paid by the state and a tax on local councils.
--
Queensland
A change to Queensland’s fire levy was announced in May. The existing 2012-13 levy amounts saw a 3.5% increase on July 1 this year. Come January next year, the fire levy will be changed to an “emergency management, fire and rescue” levy, which will be applied across all rateable properties.
The levy will be increased by a further 6.5% from 1 January 2014.
In addition, all landholders in Rural Fire Brigade areas will pay an additional $90 on top of their existing rural fire levy.
This change comes as the Newman government announced $4.5 billion of revenue falls since coming into office. In addition, general taxation in the 2013-14 budget will be written down a further $1.2 billion.
According to the Queensland Fire and Rescue Service, about 68% of its running cost is provided by fire levies collected through local government rates, while other funding comes from the state and Commonwealth governments, as well as other fees and charges.
At present, the fire levy in Queensland applies to all properties located within an urban district, but not all rateable properties. Local government officers calculate the levy to be imposed. The urban fire levy in Queensland is dependent on the following factors:
<ul>
<li>
The class of urban district in which the property is situated
</li>
<li>
The activity carried on or the use to which the land is put
</li>
<li>
The size and nature of any improvements on the land
</li>
</ul>
In addition, the new levy will not support local volunteer rural fire brigades, according to a <a href="https://rfbaq.org/news.aspx?ArticleID=427">media release from the Rural Fire Brigades Association of Queensland (RFBAQ)</a>.
Pensioners will continue to receive a 20% discount on the proposed levy.
--
ACT
The Fire and Emergency Services levy in ACT is charged on all rateable properties to partially cover the cost of providing fire and emergency services.
The levy amount for the 2013-14 financial year on all rateable residential and rural properties is a fixed charge of $120, up from $104.80 during the last financial year.
Commercial property owners will pay an amount based on the average unimproved value (AUV) multiplied by 0.5041%, an increase of 0.0948% from last year.
Property owners have the option of paying their rates and levy assessment in full by the first due date and receive a 3% discount, or by four quarterly payments throughout the year.
Pensioners eligible for a rates rebate will receive a 50% on their portion of the levy.
The ACT Revenue Office has provided a Fire and Emergency Services levy calculator, which is available <a href="https://www.revenue.act.gov.au/calculators/rates,_fesl_and_land_tax_2013-14" target="_blank">online</a>.
--
WA
The emergency services levy (ESL) imposed in Western Australia has been in place since 2003. It addresses key issues and replaces an old system where insurance companies collected funding for the career fire and rescue service by placing a levy on insurance premiums for properties in WA.
At present, the ESL helps ensure a system where everyone contributes to the emergency services available, and people are more aware of the exact amount they contribute.
<img height="207" width="470" src="/images/stories/2013/06/leviesjune26two.jpg" alt="leviesjune26two">
Major changes to the 2013-14 ESL include an increase in minimum charges, from $57 to $60.
Residents living in Alkimos, Two Rocks, Cowaramup, Wallcliffe, Witchcliffe, Yallingyup, Bridgetown, Port Hedland, Karratha, Bruce Rock, Tom Price, Dampier, and Dwellingup should take note of <a href="https://www.dfes.wa.gov.au/emergencyserviceslevy/Pages/AreasBoundariesandRateCategories.aspx">boundary changes</a> made for 2013-14.
A <a href="https://www.dfes.wa.gov.au/emergencyserviceslevy/ESL%20Docs/20130617%20ESL%20Q%20A%20Document%20-%202013-14.pdf">document</a> on Western Australia’s ESL for 2013-14 states that the cost of running WA’s Department of Fire and Emergency Services in 2013-14 is about $338 million, with $271.184 million coming from the ESL.
The ESL charge is dependent on four factors:
1. the location of the property (the ESL Category it is in);
2. the declared ESL rate for that category;
3. the property’s Gross Rental Value (GRV); and
4. Minimum and maximum charges, which are based on what the property is used for.
The ESL Categories are as follows:
<img height="285" width="470" src="/images/stories/2013/06/leviesjune26three.jpg" alt="leviesjune26three">
The ESL charge for properties in categories 1 to 4 is calculated using the Gross Rental Value (GRV). The GRV is multiplied by the ESL rate for the category.
<img height="201" width="470" src="/images/stories/2013/06/leviesjune26four.jpg" alt="leviesjune26four">
Properties located in ESL Category 5 and certain mining tenements (where infrastructure is likely to exist) receive a fixed charge of $60 per rates notice.
The Valuation of Land Act (1978) defines the GRV as "the gross annual rental that the land might reasonably be expected to realise if let on a tenancy from year to year upon condition that the landlord were liable for all rates, taxes and other charges thereon and the insurance and other outgoings necessary to maintain the value of the land..."
Pensioners who quality for a rebate on council rates will receive the same amount of rebate on their ESL charge.
The Western Australian Department of Fire and Emergency Services has provided an ESL calculator, which is available <a href="https://www.dfes.wa.gov.au/emergencyserviceslevy/pages/eslcalculator.aspx" target="_blank">online</a>.
--
South Australia
The South Australian emergency services levy (ESL) is a levy for all real estate and some vehicles, funding emergency services across SA, including the Metropolitan Fire Service and Country Fire Service.
The prescribed levy rate for the 2013-14 financial year has increased from 0.001027 to 0.001108. This therefore affects the determination of the remission contributed by the government to the community emergency services fund. 
The formula used to calculate the levy is detailed below:
<img height="372" width="470" src="/images/stories/2013/06/leviesjune28one.jpg" alt="leviesjune28one">
Effective Levy Rates and Land Use Factors for 2013-14 will remain the same.
Applying the prescribed fixed charge, and the other prescribed components to the capital value of a property (variable charge) results in the Gross levy (i.e. the total amount contributed to the fund by both the government and the owner). 
The main component of the government contribution is the general remission. This is the difference between calculating the ESL using the prescribed components and the effective components.
The component of the ESL contributed by the owner is calculated by applying the Effective Fixed Charge, and the other Effective components to the capital value. This amount may be further reduced by:
<ul>
<li>any remission to certain other properties;</li>
</ul>
<ul>
<li>any concession; or</li>
</ul>
<ul>
<li>any reduction of the fixed charge for contiguous or single farming enterprise land.</li>
</ul>
 The levy components are as follows:
<img height="589" width="470" src="/images/stories/2013/06/leviesjune28two.jpg" alt="leviesjune28two">
<img height="437" width="470" src="/images/stories/2013/06/leviesjune28three.jpg" alt="leviesjune28three">
<img height="511" width="470" src="/images/stories/2013/06/leviesjune28four.jpg" alt="leviesjune28four">
Source: Revenue SA
SA’s four emergency areas are:
Regional Area 1 (R1): the areas of the cities and towns of Berri, Goolwa, Kadina, Loxton, Millicent, Mt Barker, Mt Gambier, Murray Bridge, Naracoorte, Nuriootpa, Pt Augusta, Pt Lincoln, Pt Pirie, Renmark, Tanunda, Victor Harbor and Whyalla.
Regional Area 2 (R2): that part of the State outside of “Regional Area 4” and “Regional Area 1” but still within a council area.
Regional Area 3 (R3): that part of the State not within a council area.
Regional Area 4 (R4): land within all metropolitan councils, the Adelaide Hills Council, Corporation of the Town of Gawler, City of Onkaparinga and City of Playford.
Full remission of the fixed and variable charge applies to properties with a Capital Value of $1000 or less in Regional Areas 2 and 3.
A full remission applies to levy accounts of $20 or less where property ownership is confined to Regional Area 3.
Concessions of up to $46 are available for pensioners, self-funded retirees, and other beneficiaries in respect of their principal place of residence.
SA’s Department of Treasury and Finance has also provided a <a href="https://www.revenuesa.sa.gov.au/esl/eslcalc">calculator</a> to help with the amount of ESL one needs to pay.
Further information is available on RevenueSA’s <a href="https://www.revenuesa.sa.gov.au/esl/esldocs/guideleg.pdf">guide to the Emergency Services Levy</a>.
--
NT
The Northern Territory funds fire services directly from consolidated revenue.
--
TAS
Tasmania uses a hybrid system to collect fire levies, with an insurance levy on commercial insurance and a fire service contribution (FSC) on residential rates.
For the year 2013-14, there will be a 4% increase in FSC for both commercial and residential properties, Mike Gallagher of the Tasmanian Fire Service told Property Observer.
FSC on properties for 2011-12 amounted to $32.3 million and represented 45 per cent of the Tasmanian Fire Service’s total revenue. The levels of contribution payable by ratepayers vary throughout the state according to whether ratepayers are in urban or country areas.
The FSC is based on a rate in the dollar and this is determined by the assessed annual value of land and the level of service provided.
On average the cost for a property covered by a permanent brigade with 24 hour a day and 7 day a week coverage is $241. The cost for a property covered by a volunteer brigade is $49 on average.
For commercial insurance premiums with a fire component, the percentage charged for prescribed classes of insurance is 2% for marine cargo insurance, 14% for aviation hull insurance, and 28% for other classes of insurance. The actual amount of insurance fire levy paid will be dependent on the premium charged by the insurance company.
Unlike the FSC where the State Fire Commission advises each council how much it is to collect and for what classes of land, the insurance fire levy is determined by market forces and the Commission does not set an amount to be collected, Gallagher said.
The minimum fire service levy for motor vehicles in Tasmania is $16, and $11 for pensioners.
The minimum fire service contribution that landholders are required to pay on a parcel of land is $36. Pensioners are entitled to a 20% discount.
Councils are paid a commission of 4% for collecting the fire service contributions, which is included on rates notices.
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A state-by-state guide to fire levies

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Unit prices in Brisbane have remained steady over the last year, according to the latest Real Estate Institute of Queensland (REIQ) data report.
Some 1060 unit sales were recorded over the March quarter. The median unit price stands at $390,000, which is the same figure as last quarter.
The $396,000 annual median unit price to March 2013 represented a 0.8% decrease on the $399,000 last March.
Suburbs that recorded significant growth included Kangaroo Point.
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Brisbane unit prices steady over March quarter: REIQ

<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

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