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A two-bedroom Brunswick West apartment was last weekend’s most affordable sale in Victoria, selling for $300,000 according to Australian Property Monitors.  
Located at <a href="https://www.barryplant.com.au/brunswick/index.cfm?pageCall=property&amp;propertyID=2328525&amp;rssLink=true&amp;addBkmkPropertyID=2328525" target="_blank">3/608 Moreland Road</a>, the apartment (pictured below) sold at auction on April 20 through Barry Plant Brunswick.
<img src="/images/stories/2013/04/brunswickwestapril23one.jpg" width="470" height="295" alt="brunswickwestapril23one">
Jim Dandris of Barry Plant Brunswick told Property Observer that the unit was previously on the market at $292,000.  
There were about twenty people present at the auction, with two registered bidders, according to Dandris.  
Dandris said the successful bidder was an owner-occupier, who was likely to be a first-time homebuyer.
Based on Barry Plant’s estimated $275 rent a week, the price reflected a likely rental yield of 4.77%, slightly higher than the average rental yield in Brunswick West which currently stands at 4.1%.  
Dandris also told Property Observer the market in Brunswick West is “very good at the moment”, with first-time homebuyers and investors interested in the area.
According to the <a href="/news">latest report by RP Data</a>, the median sale price for units in Brunswick West is $387,500, up by 3.3% on last year. The average discount required to sell a unit in Brunswick West is 5.8%, while private treaty sales average 46 days on market.  
Other two-bedroom apartments for sale in Brunswick West include: 6/22 Whitby Street, <a href="https://www.realestate.com.au/property-unit-vic-brunswick+west-112961891" target="_blank">listed for $369,000</a>, and 12/380 Brunswick Road, <a href="https://www.realestate.com.au/property-apartment-vic-brunswick+west-112681687" target="_blank">listed for $345,000</a>, both by Nelson Alexander Real Estate Brunswick.    
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Brunswick West apartment claims last weekend's most affordable Victorian sale

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A four-bedroom house in Kurunjang was last weekend’s most affordable auction sale in Victoria, selling for $260,000, according to Australian Property Monitors.
Located at 10 Light Fingers Street, the property (pictured below) sits on a 545-square-metre block that features a large backyard. It last traded at $86,000 in 2008 and was built in 2009.
<img height="346" width="470" src="/images/stories/2013/04/kurunjangapril18one.jpg" alt="kurunjangapril18one">
Property Observer reported in <a target="_blank" href="/news">August last year</a> that Kurunjang (3337) was one of Victoria’s ten worst postcodes for mortgage arrears.
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-kurunjang-113239391">Listing agent Ned Nikolic of Barry Plant Melton</a> told Property Observer that the vendor was a bank, but declined to explain the circumstances surrounding the auction.
There were four bidders present at the auction, and it appeared the successful bidder was an investor.
Based on an estimated rental of $275 a week, the auction price reflected a likely yield of 5.5%, slightly higher than the RP Data gross average yield of 5% in the area.
<a target="_blank" href="/news">According to the latest RP data report</a>, the median sale price for houses in Kurunjang is $277,000, down by 7.5% on last year. The average discount required to sell a house in Kurunjang is 9.1%, while private treaty sales average 98 days on market.
Other houses for sale in Kurunjang include: 40 Banker Street, <a target="_blank" href="https://www.realestate.com.au/property-house-vic-kurunjang-113377675">listed for $315,000</a> by YPA Estate Agents Melton, and 10 Tulloch Avenue, <a target="_blank" href="https://www.realestate.com.au/property-house-vic-kurunjang-113573559">listed for $319,000</a> by Barry Plant Melton.
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Kurunjang notches up Victoria's cheapest weekly sale: APM 

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A 1950s three-bedroom Lalor Park house was the weekend's cheapest auction sale in New South Wales last weekend, selling for $350,000 according to Australian Property Monitors.
Located at 9 Corella Road, the brick house sits on a 620-square-metre corner block.
{yoogallery src=[images/stories/2013/04/april17lalor]}
The property, last sold in 1958 for £7,200, was auctioned as a deceased estate.
Its <a href="https://www.realestate.com.au/property-house-nsw-lalor+park-113328339" target="_blank">listing agent Matt Lucas of LJ Hooker Blacktown</a> told Property Observer there were 50 plus people present at the onsite auction with competitive interest.
“We had eleven registrations and five people going head-to-head,” he said.
Lucas said the house has the potential to be an “investment-style property,” but the current buyers were looking to renovate it first.
The property features the original kitchen.
Based on LJ Hooker's estimated $320 rental per week, the price reflected a likely rental yield of 4.75%, slightly lower than the average rental yield in <a target="_blank" href="/news">Lalor Park</a> which currently stands at 5.6%, according to RP Data.
However Lucas told Property Observer that the asking rent is likely to increase to $380 to $400 a week after the property has been renovated, bringing the estimated rental yield to 5.79%.
Lucas added that Lalor Park typically attracts first-time homebuyers and young families. In recent weeks investors have also been showing strong interests in the area.
“It’s a bit of a changing time mainly due to investors coming in. There’s not much available stock left,” he told Property Observer.
According to the <a target="_blank" href="/news">latest report by RP Data</a>, the median sale price for houses in Lalor Park is $350,000, down by 1.7%  on last year. The average discount required to sell a house is 5.4%, while private treaty sales average 54 days on market.
Other houses currently for sale in Lalor Park include: 46 Northcott Road, <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-lalor+park-113407991">listed for $395,000</a> by Australian Real Estate Kings Langley and 16 Iwunda Road, <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-lalor+park-112687911">listed for $369,000</a> by Richardson and Wrench Baulkham Hills.
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One owner Lalor Park house fetches $350,000 median after 55 years ownership

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Peninsula Riverside, a 15-storey apartment tower is slated for construction in Kangaroo Point as Tom Dooley Developments (TDD) has emerged as an $11 million Thorn Street development site project buyer.
It's one of the sites that Property Observer reported in <a target="_blank" href="https://www.propertyobserver.com.au/news/shafston-house-listed-by-keith-lloyd/2013013158998">February</a> has having been listed by Brisbane businessman Keith Lloyd.
The tower will replace a 31-unit apartment complex currently operated as student accommodation.
"There are 31 old flats we are knocking down for the new building," TDD managing director Tom Dooley told Property Observer.
The site’s original development approval allowed for a 20-level mixed use building, which will be amended by Dooley. 
TDD plans to build a 168-apartment block on the site, overlooking the landmark Shafston House, with north-easterly views of the river.
The <a target="_blank" href="https://www.tdd.com.au/">TDD development group </a>has previously completed three other projects in Kangaroo Point. These include 19 Thorn, a 28-unit apartment block on 19 Thorn Street; Story, an apartment complex located at 89 Lambert Street, and luxury development Mon Rêve, at 98 Thorn Street.
Story comprised 72 apartments and six two-storey townhouses when completed in January 2007. It was awarded the 2007 regional commendation from the Royal Australian Institute of Architects.
Mon Rêve is an award-winning luxury development of 43 apartments spread across two towers on the north-eastern reach of the Brisbane River. It was completed in 2004.
“There has been a lack of new apartments in Kangaroo Point due to the shortage of development sites and the fact that the Kangaroo Point Peninsula is landlocked by the river,” Mr Dooley said.
The new development will be priced from $370,000, offering one and two-bedroom apartments.
Mr Dooley told Property Observer that marketing for the new development began last Friday with its first release.
Work is expected to start on the development, to be named Peninsula Riverside, in August.
Property Observer reported in <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/australand-profits-up-5-in-interesting-times-with-strong-demand-for-melbourne-apartments/2013020659199">February</a> that property developer Australand’s Kangaroo Point developments The Promontory, The Linc, and The Residences were showing strong sales.
The apartments at Kangaroo Point Peninsula are currently <a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-kangaroo+point-113431615">listed for sale</a>. <a target="_blank" href="/news">RP Data gives the suburb's median unit price as $470,000</a>.
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Tom Dooley returns to Kangaroo Point with fourth residential project

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A one-bedroom apartment in Essendon was recorded as the cheapest auction sale in Victoria for the past weekend, selling for $266,000 according to Australian Property Monitors (APM).
Located at 20/44 Fletcher Road, the apartment sold at auction on April 6 through Barry Plant – Moonee Valley. 
Property Observer reported in <a href="/news">January</a> that Essendon was one of 23 suburbs in Melbourne where first-home buyers can purchase a one-bedroom apartment and pay equal or less than the estimated first-home buyer mortgage repayment in Victoria of $414 per week.
Data compiled by the Real Estate Institute of Victoria (REIV) reveals that first-home buyers in Essendon are spending $414 a week on mortgage repayments with a median price of $310,000 for one-bedroom apartments.
The self-contained apartment is close to public transport, includes a carport on title, according to Jim Michaels, the Barry Plant listing agent.
Based on an estimated $260 rental, the price reflected a likely yield of 5.8%, significantly higher than the RP Data average gross rental yield of 3.9% in the area.
Essendon is 10km north-west of Melbourne’s CBD, and is well-connected by public transport and the Tullamarine freeway. Cafes and other amenities are also easily accessible.
According to the latest report by RP Data, the median sale price for units in Essendon is $418,000, slightly down by 1.1% from last year. The average discount required to sell a unit in Essendon is 8.4%, and sales average 67 days on market.
Other one-bedroom apartments listed for sale in Essendon include:
304/201 Buckley Street (pictured below), <a href="https://www.realestate.com.au/property-apartment-vic-essendon-112516015" target="_blank">listed for $410,000</a> by Frank Trimboli Real Estate – Footscray.
<img alt="essendonapril12one" height="408" width="470" src="/images/stories/2013/04/essendonapril12one.jpg">
413/55 Collins Street (pictured below), <a href="https://www.realestate.com.au/property-apartment-vic-essendon-111938187" target="_blank">listed for $295,000</a> by Windy Hill Real Estate – Essendon.
<img alt="essendonapril12two" height="306" width="470" src="/images/stories/2013/04/essendonapril12two.jpg">
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Essendon one-bedroom apartments attracting strong buyer interest

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A 27 square metre serviced apartment in South Brisbane promising returns of around 7.5% is being offered for sale aimed at self-managed super fund investors. 
Located at 42 Montague Road  and close to the Suncorp Stadium, it is managed by corporate accomodation operator AHR Group.
It is listed for $160,000 with a new 10-year lease is in place. 
The building currently operates as Riverside Hotel Southbank.
Facilities include hotel-style accommodation as well as an outdoor swimming pool. Body corporate and repair costs are borne by the manager. 
According to RP Data, another 27 square metre unit in the building sold in December last year for $153,250. In the same month, another 27 square metre unit sold for $160,000. 
“Annual net rental of $12,000 is guaranteed by the management rights operator AHR group,” George Koukides, the First National – Commercial listing agent said.
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SMSF serviced apartment investment opportunity in South Brisbane offers 7.5% return

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The world’s worst-hit housing markets have begun to recover, according to Alistair Elliott, the newly appointed Knight Frank senior partner and international group chairman.
“The search for safe haven investments has continued to propel house prices higher in key global cities; some of the markets worst hit by the global financial crisis appear at long last to be recovering,” he says.
The latest reports suggest <a target="_blank" href="?option=com_googlesearch_cse&amp;q=property%20markets">property markets</a> in the United States and the United Kingdom are improving.
In the United States, CoreLogic (owner of RP Data) released its January HPI report, showing home prices (including distressed sales) increased by 9.7% nationwide compared to January 2012. This change represents the biggest increase since April 2006 and the 11th consecutive monthly increase in house prices nationally.
Excluding distressed sales, home prices increased on a year-over-year basis by 9% in January 2013 compared to January 2012. 
In the UK, data from the Office of National Statistics (ONS) also indicates that the property market is recovering.
House prices increased by 2.2%t in the twelve months to January 2013, down from a 3.3% increase in the twelve months to December 2012. House price growth remains steady across most of the UK, although the ONS found that prices in London are increasing while prices in Northern Ireland are falling. They also found that prices paid by first-time buyers in January 2013 were 2% higher on average than in January 2012. For existing owners, prices increased by 2.2% for the same period.
The Council of Mortgage Lenders (UK) recorded 38,300 home loans purchased in January, the highest January total since 2008. This represents an 11% increase from January 2012.
Amongst the 38,300 loans advanced in January, 15,900 loans (worth £2 billion) were advanced to first-time buyers. This is an increase of 24% compared to January last year (12,800 loans), making it the largest January total since January 2008 where 17,700 loans were advanced.
In Canada, the outlook for the housing market seems less optimistic.
While it showed signs of stabilisation in January this year as prices continued to increase, total sales fell from a year before as a result of tighter mortgage rules that came into effect in mid-2012, according to the Canadian Real Estate Association (CREA).
However, the signs of stability abated in February as sales dropped 15.8% from a year ago, and 2.1% from January, prompting CREA to cut its sales outlook for 2013 for the third time since mid-2012.
The association forecast 441,500 sales for 2013, a decline of 2.9% from 2012.
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Worst-hit global housing markets starting to recover: Knight Frank group chairman Alistair Elliott

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A 1950s three-bedroom house in the popular retirement and lifestyle NSW town of Toukley was last weekend’s cheapest sale, fetching $184,000 at auction, according to Australian Property Monitors (APM).
Located at 306 Main Road, the property sold at mortgagee auction through George Brand Real Estate – Toukley. 
Property Observer reported in <a href="/news">February</a> that Central Coast Sydney was ranked the sixth-worst performing region in Australia by value, with a delinquency rate of 1.81%.
Although last <a href="https://www.propertyobserver.com.au/new-south-wales/mortgagee-sales-decline-36-on-nsw-central-coast-property-market-consolidates-ahead-of-brighter-2013/2012121658512">December</a> it was reported that instructions to provide mortgagee valuations in Toukley were down by 36% over 2012, according to property valuation and advisory group Herron Todd White.
The sold cottage sits on a 632 square metre block with large backyard, reflecting dual occupancy income potential.
Set close to a supermarket and the beach, Matt Rogers suggested the property allowed for new owners to “build in their own equity”.
The house last sold for $105,000 in 2007 according to RP Data records, reflecting a price appreciation of $15,800 per year over the last five years.
There were about four bidders present, and it appeared the successful bidder was an investor.
The price reflected a likely rental yield of 5.93%, slightly above the average rental yield in Toukley, which currently stands at 5.3%.
It was advertised has having a potential rent return of $200 to $220 per week.
RP Data records show the property was listed for rent at $195 a week in late 2007. In 2011, the rental asking price was given at $250 a week.
Toukley lies approximately 107km north of Sydney. According to the latest RP Data report, the median sales price of houses in the area is $295,000, an increase of 6.5% from last year.
Property agents in the area say that the market in Toukley has been “exceptional”.
“We’re finding a lot of buyer enquiries, properties are selling quickly, and prices are moving in the right direction,” Benjamin Hamilton at the Wiseberry Heritage agency told Property Observer.
The average discount required to sell a house in Toukley is 10.4%, while average days on market stand at 91 days.
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Mortgagee sales continue on NSW Central Coast with Toukley providing the weekend's cheapest sale

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Properties with direct parkland views as well as in close proximity to parks are top performers compared to other properties in a given suburb, according to a report by buyer's advocates, Secret Agent.
The report, which surveyed 30 suburbs in inner Melbourne, found that parkland properties in general fetch stronger prices.
Conversely, properties that are close to parks but don't have a view do not perform as well as those with a direct view.
According to the Secret Agent report, the average sales price of park houses (houses opposite or facing parks, or in extremely close proximity) in <a href="/news">Fitzroy North</a> (Edinburgh Gardens) from 2009-2012 was $1,781,833.
In comparison, the average sales price of non-park houses was $969,749 while the average sales price in the whole suburb was $991,491 in the same period.
Similarly, the average sales price of park houses in <a href="/news">Albert Park</a> (St Vincent Gardens) from 2009-2012 reached $3,198,571. In comparison, the average sales price of non-park houses was $1,289,796 while the average sales price in the whole suburb was $1,339,183.
A <a target="_blank" href="https://www.realestate.com.au/property-house-vic-albert+park-113235227">three-bedroom house</a> (pictured below) on St Vincent's Place will go to auction on April 20.
<img alt="secretagentapril9one" height="352" width="470" src="/images/stories/2013/04/secretagentapril9one.jpg">
<img alt="secretagentapril9two" height="157" width="470" src="/images/stories/2013/04/secretagentapril9two.jpg">
<img alt="secretagentapril9three" height="159" width="470" src="/images/stories/2013/04/secretagentapril9three.jpg">
Source: Secret Agent
Secret Agent’s analysis of properties within 200 metres of St Vincent Gardens in Albert Park found that properties on St Vincent Place were at least double the value of their parallel counterparts.
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Properties with direct parkland views fetch higher house prices: Secret Agent

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Sydney can look forward to a positive 2013 with increased buyer and seller activity thus far, according to the latest market report by Australian Property Monitors (APM). 
According to APM, there are 28,000 properties listed for sale in Sydney, nearly 17% less than a year ago and approximately 13% lower than the long-term trend. 
Furthermore, the average discount required to sell a Sydney property fell from 6.3% a year ago to 5.8% as of February 2013, below its long-term average of 6.5%. 
Average days on market in Sydney increased marginally from 94 days a year ago to 95 days as of February 2013 – the long-term average is 82 days. 
"Sydney has certainly been the strongest performer of all the major capital city markets," says APM senior economist Dr Andrew Wilson.
"The Sydney median house price is at record levels and is the only capital city to have its house price at record levels. Other capital city markets are yet to recover to their previous highs," he said in a <a href="https://media.theage.com.au/property/domain/sydney-and-melbourne-markets-on-the-rise-4157788" target="_blank">Fairfax Media video bulletin</a>.
APM has Sydney house prices up 1.5% over the three months to January with a median price of $658,000 and units up 1.7% to a median of $474,000.
Wilson says Sydney is being driven by high rents and a generally solid housing market, which "continues to drive forward and motor on as a leader of capital city house market performance".
“Weekend auction clearance rates have been impressive, tracking nearly 20% higher than those recorded over the same period last year,” says APM. 
“Early season clearance rates have been similar to those recorded during the boom period of autumn 2010 and are a positive indication of rising market confidence.”
Signs are also emerging of a more generalised lift in Sydney buyer activity, with increased sales in the prestige market. 
“Auction listing numbers are also on the rise and are clearly higher than for the same period last year. This indicates rising seller confidence in the Sydney market,” says APM.
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"Solid" Sydney property market the strongest capital city performer: APM

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

Joel Robinson

Above Zero launches Camberwell House in undersupplied Camberwell Junction precinct

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, 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]

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.

Diane Leow

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