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A one-bedroom unit in Murrumbeena was Melbourne’s most affordable auction sale last weekend.
Located at <a href="https://www.realestate.com.au/property-apartment-vic-murrumbeena-115289071" target="_blank">7/14 Ardyne Street</a>, the unit sold for $265,000 through Hocking Stuart Carnegie.
Prior to this sale, it last sold in 2002 for $138,257, according to RP Data records.
Listing agent Chris Janssens told Property Observer the auction saw four bidders. The successful bidder was an investor.
He also noted that the reserve price was set at $260,000. The highest bid was $257,500, but Janssens negotiated an additional $7,500 for the vendors to reach the final price.
Janssens added that most one-bedroom units in the Murrumbeena area were built in the 60s, and average around 37 square metres in size. They are traditionally referred to as “kitchenette flats” or “four squares”.
“When I started (in Murrumbeena) 15 years ago, the prices started at around $90,000. They have gone up considerably by 150%. To get one unrenovated, it would cost around $240,000 to $250,000,” he said.
He also said the Murrumbeena property market is doing “really good” at the moment.
“We’re running at a 90% clearance rate. Out of 70 auctions, we’ve seen nine out of ten sold before or on auction day. Generally, I’d say the inner-Bayside/south-eastern suburbs are performing better than Melbourne at the moment. All the agents here are seeing a higher than average clearance rate,” he said.
The estimated asking rent for this unit is $250 per week. However, Janssens noted that the asking rent for unit 8 is $230, as it is unrenovated.
He explained that this particular unit had a long-term tenant who kept it in “quite a terrible condition”. When the owners wanted to sell the property, they decided to renovate it for the purpose of resale.
“Generally, when a unit is renovated, it can rent for about 10% more,” he said.
According to Hocking Stuart Carnegie’s estimated asking rent, the price reflects a 4.91% yield. 
According to the <a href="/news">latest RP Data report</a>, the median unit price in Murrumbeena is $502,500, down 0.5% on last year. The average discount required to sell a unit is 9.8%, while private treaty sales average 66 days on market.
The median asking rent for units is $300 per week, while gross rental yield currently stands at 3.1%.
<a target="_blank" href="mailto:dleow@propertyobserver.com.au">dleow@propertyobserver.com.au</a>
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Renovated Murrumbeena cheapie sells for $265,000, Melbourne's most affordable weekend auction sale

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Logan City, situated between Brisbane and Gold Coast, is a region in Southeast Queensland. Traditionally, it has been popular amongst investors – but saw a decline in activity after the global financial crisis.
In recent months, buyer activity has picked up once again in Logan.
Australian Property Monitors' senior economist Dr Andrew Wilson says Logan is an “established market”.
“It is a value market, and appeals to people looking for value-orientated property,” he said.
He believes that as the local Brisbane economy strengthens, Logan will continue picking up as well.
Additionally, Dr Wilson notes that Logan is a “mini-hotspot” for investors, as it nets quite a high yield, and is close to major employment areas such as Brisbane.
However, he warns against investors who rush to purchase properties in Logan. 
“It’s always the ‘curse’ of the hotspot. By saying it’s a hotspot, there could be an overshoot of fundamentals. Gladstone was the flavour of the month, now the direction’s moving to Logan,” he said. 
“Investors should beware of the ‘hotspot’. What goes up quickly comes down quickly as well,” he added.
As Queensland enters the election pipeline next year, Dr Wilson expects to see an increase in infrastructure spending. He added that the Queensland economy is “positive” thanks to the resource and tourist sectors that appeal to the lifestyle market. 
“The Brisbane housing market has the most potential for upside compared to other capital markets through to 2014,” he said.
Ray White Shailer Park principal Keith Nicholson told Property Observer that the property market in Logan is “very strong” at the moment. 
“Although prices have not increased there has been a strong increase in buyer enquiry and transaction numbers have increased. The market is certainly stronger now than it was six to 12 months ago,” he said. 
While some have concerns about overshooting in the Logan property market, Nicholson believes this is not the case at present.
“I think four or five years ago this was a problem. However prices in the area have come back quite a bit since the peak in 2009. At present, prices in the area are still quite low in regards to historical levels, yet rents are quite high. Combine this with low vacancy rates and it is a great time to be investing in the area,” he said.
Nicholson added that activity in Logan has been the “strongest it has been for some time.” He believes it is a great area for investors and first homebuyers alike as there is a great range of properties available. 
He cites great infrastructure as a major pull factor for Logan, with “quality schools, shopping centres and public transport facilities being big positives.”
Its central location, between the Brisbane CBD and Gold Coast, is also a big plus.
Lester Drew, principal of Land and Home Realty Logan Central, agreed that the Logan City property market is doing well.
“Enquiries have picked up substantially one month prior to the Federal election, primarily from local and interstate investors,” he told Property Observer. 
Drew adds he has been seeing a lot of investor activity in Logan.
“Currently the majority of buyers are investors. I have just sold a block of six units that we listed for sale for $1,000,000. A client from Melbourne paid the  sking price – and another investor in Sydney signed a back up contract for the full asking price. The property settled on Thursday to the first buyer,” he said. 
He believes Logan City’s location is ideal as it is host to large areas of industrial land that is attracting companies who need larger premises at affordable rates. 
“They can take advantage of both the M1, Gateway and Logan Motorways to avoid traffic congestion in Brisbane CBD,” he said.
Additionally, Logan is seeing a vacancy rate of below 2%, according to Drew. He notes that this puts upward pressure on rent returns, while most properties still fall under the affordable range.
Drew thinks the next year will be a great time for Logan as the Logan City Council has recently approved a number of locations that are regarded as Transport Nodes for redevelopment.
“These plans are currently with the State Government for Gazettal. This is an exciting development as it will mean that many of the existing Department of Housing homes will be released for sale – creating desperately required land for unit development,” he said. 
As Logan City encompasses a number of suburbs, Drew recommends keeping an eye on Logan Central, Loganlea and Loganholme for two reasons - one is public transport, and the other is the upgrade of facilities by the Council in these areas.
Nicholson also chose Loganholme as an up-and-coming area. He singled out Tanah Merah and Daisy Hill as areas to watch, too.
“You can buy some good quality investment properties that will offer good returns and should see some good capital growth over the next few years,” he said.
According to the <a href="/news">latest RP Data report</a>, the median house price in Logan Central is $240,000, down 3.8% on last year. The average discount required to sell a house is 8.4%, while private treaty sales average 75 days on market.
Median asking rent for houses is $320 per week, while gross rental yield is 6.9%.
The median sale price for units in Logan Central is $163,250, up 5.3% on last year. The average discount required to sell a unit is 8.7%, while private treaty sales average 63 days on market.
The median asking rent for units is $255 per week, while gross rental yield currently stands at 8.1%.
According to the <a href="/news">latest RP Data report</a>, the median house price in Loganlea is $285,780, down 6.3% on last year. The average discount required to sell a house is 8.9%, while private treaty sales average 88 days on market.
The median asking rent for a house is $330 per week, while gross rental yield is 6%.
The median unit price in Loganlea is $300,804, down 4.3% on last year. The median asking rent is $280 per week, while gross rental yield currently stands at 4.8%. 
According to the <a href="/news">latest RP Data report</a>, the median house price in Loganholme is $355,500, up 2.7% on last year. The average discount required to sell a house is 5.9%, while private treaty sales average 88 days on market.
The median asking rent for a house is $360 per week, while gross rental yield is 5.3%.
The median sale price for a unit in Loganholme is $325,000, down 5.2% on last year. The median asking rent for a unit is $340 per week, while gross rental yield currently stands at 5.6%.
According to the <a href="/news">latest RP Data report</a>, the median sale price for a house in Daisy Hill is $385,500, down .2% on last year. The average discount required to sell a house in Daisy Hill is 6.1%, while private treaty sales average 71 days on market.
The median asking rent for houses in Daisy Hill is $400 per week, while gross rental yield is 5.4%.
The median sale price for units is $270,000, down 6.6% on last year. The median asking rent for units is $350 per week, while gross rental yield currently stands at 6.7%.
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Suburb spotlight: Logan investor activity surges

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Fengshui is the art of balancing various energies (qì), aligning good energies and getting rid of negative ones to achieve the best results for life. Its origins are from China, but has become popular in the western world as well. 
Using various fengshui elements, one can accumulate “good” energy to assure health, good fortune, and meaningful relationships. At the same time, it is possible to channel negative energies elsewhere to create harmony in a space.
An eight-sided map called Bagua represents the eight different elements that are vital for life. These are
<ul>
<li>
Finances
</li>
<li>
Relationships/romance
</li>
<li>
Fame/recognition
</li>
<li>
Career/ambition
</li>
<li>
Rewards
</li>
<li>
Health
</li>
<li>
Travel
</li>
<li>
Creativity
</li>
</ul>
Fengshui <a href="https://www.masterfeng.com/" target="_blank">Master Yu Gui Feng</a> told Property Observer it is important to first determine the “qi” of a property owner before assessing which elements need to be balanced out in their home.
“The house is a reflection of the person’s body energy. We spend more than one-third of our time inside the house. People’s environment will always have an influence on their energy,” he said.
However, there are a few general rules of thumb: 
For a home, it should ideally be built on flat land, or land that is slightly elevated towards the back of the property.
“This is so the surrounding energy is supportive, and positive energy is evenly distributed to all parts of your life,” Master Feng said.
When building a home, Master Feng reiterates the importance of its front entrance for good fengshui. 
“When we divide the eight sections of energy inside the house, it influences the body and life. It starts from the front entrance,” he said.
He advises that homes should be symmetrical in shape.
“Two sides of the house need to be relatively similar. Even if one side is narrower than the other, it should be too much (narrower),” he emphasised.
This is so the energies in the home are not imbalanced. 
Additionally, he advises building staircases away from the front entrance.
“When we open the front door, we cannot walk upstairs straightaway. A staircase near the entry, that’s one of the biggest problems. The stairs need to be stationed at the back part of the house. That is ideal. Otherwise, the health energy, relationship energy, and money energy is easily drained,” he said.
His advice on fengshui-friendly colour schemes: do not use dark colours as a dominant colour for your home.
“If the entire exterior or interior is all black, that will cause some problems. Usually, I put a mixture of different colours – that will be all right,” he said.
He added that while popular fengshui-aligned houses like the famed <a href="https://www.mybhr.com/6-5m-smart-house-thinks-for-itself/#more-3457" target="_blank">“Butterfly” home in Sydney</a> are have only rounded edges, “normal” houses with corners can also have good fengshui once good energies are aligned together.
Master Feng adds that it is important to consult an expert before purchasing a property to avoid making “expensive mistakes”.
“These are generalised guidelines. We need to relate it to specific situations. Just like investment, everyone’s circumstance is different. We need to tailor suggestions to each family’s situation, and their property. We need to look at the building, the person, and the energy patterns,” he said.
<a href="mailto:dleow@propertyobserver.com.au" target="_blank">dleow@propertyobserver.com.au</a>
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Tips for a fengshui-friendly home

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The SMSF’s Professionals’ Associate of Australia (SPAA) has questioned the cost findings of actuarial firm Rice Warner in its submission to ASIC on Consultation Paper CP 216. 
The <a href="https://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/cp216-published-16-September-2013.pdf/%24file/cp216-published-16-September-2013.pdf" target="_blank">consultation paper</a> is titled ‘Advice on self-managed superannuation funds: Specific disclosure requirements and SMSF costs’.
In the paper, Rice Warner proposed that financial advisers must “consider and be able to show that they have informed clients of” SMSF cost issues outlined in the table below.
<img width="450" height="401" src="/images/stories/diane/Screen_Shot_2013-11-22_at_1.26.04_PM.png" alt="Screen_Shot_2013-11-22_at_1.26.04_PM">
Source: ASIC
The SPAA’s submission outlined its stance on the disclosure of costs associated with the operation of an SMSF.
It said SPAA “was surprised by the report’s findings on when SMSFs are cost-competitive with retail or industry funds.”
“The report showed higher costs than what we understand to be prevalent in the SMSF administration market,” said SMAA chief executive Andrea Slattery.
Slattery added that higher costs led to higher break-even points for SMSF balances to be cost-competitive, which could mislead trustees.
“Because of this we do not think that these calculated break-even points should be used as being indicative of the costs of running an SMSF.  The most common cost, such as the median or most common cost, could be used as a more useful guide,” Slattery said.
She emphasised that calculated break-even points ignore the “unique” nature of SMSFs, where costs depend on the SMSF’s investments, the trustee’s level of self-administration, and what type of administration platform they utilise.
“Once again, we believe that this issue on costs can be resolved by trustees having access to advisers with better knowledge and understanding of SMSFs so they can have a meaningful discussion on how having an SMSF will fit their individual circumstances,” she said.
<a target="_blank" href="mailto:dleow@proeprtyobserver.com.au">dleow@proeprtyobserver.com.au</a>
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SPAA submission to ASIC takes issue on SMSF costs

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Property Observer recently spoke to Feng shui master Yu Gui Feng for tips on making your home feng shui-friendly. He told us that the feng shui elements for commercial properties are quite different.
There are certain elements associated with feng shui – wood, fire, earth metal, and water. Each of them carries a different energy that could be beneficial or harmful, depending on the surrounding energy of the property and its owners.
“For residential properties, you want to built it on flat ground or on the higher side of the road. But for commercial property, we don’t like it to be on top of a hill. We like it to be somewhere on the lower side of the road, or near the bottom of the landscape, because that’s where it can accumulate a lot of money energy,” he said.
He went on to explain that feng shui, literally translated, means “wind” and “water” in Mandarin. Water symbolises prosperity.
“Human bodies are made up of 70% water. A commercial property needs customers. Water energy flows downhill. That’s why a shop or a commercial building should be on the lower side of a road,” he said.
For shops, he advises that there is no “ideal” orientation. However, certain elements need to be closely aligned with the product.
“For example, if you are in the food industry, the prime energy is earth energy. A good colour for earth energy is a yellowish colour. Look at the world’s largest restaurant chain, McDonald’s. Its dominant colour is yellow, and resonate’s with the industry’s energy,” he said.
“For a commercial property, we also need to look at the logo, the business name, how many letters, the logo’s colours, and signage. Of course the internal layout and design matters too,” he added. 
Good layouts for shops include rectangular and square shapes. Ideally, the front entrance should be narrower than the back, like a bottle. 
“This is to accumulate money energy. Money energy goes in every busy shop, in one way or another,” he said.
He also noted that commercial property owners should avoid purchasing properties where the front and back doors directly face each other.
“It is very hard to make a sound investment with this type of property,” Master Feng said.
Additionally, a commercial building’s surroundings is very important. If there are any buildings in its vicinity that have sharp corners and reflect light, that could cause problems for your business.
Similar to a residential property, the front entrance of a commercial building is important.
“It can influence the entire building’s money return. You need to look at the landscape and surrounding buildings to create an appropriate entrance. Once you walk into the entrance of a commercial property, the entrance or lobby area needs to have two conditions: One is light. One is space,” he said.
He added that buildings with a reception area should place the reception as close to the front entrance as possible.
As for colour schemes, he suggests avoiding the colour black. Exceptions to the rule include nightclubs, bottle shops, and adult shops.
Lastly, Master Feng said that feng shui is only one-third of the overall plan to turn a business around.
“It’s about the right time, right person, right place,” he said. “These include opportunities, your personal effort, the product and the services. The energy of the place, that has got to do with feng shui.”
<a href="mailto:dleow@propertyobserver.com.au" target="_blank">dleow@propertyobserver.com.au</a>
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Feng shui tips for your commercial property

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A recent report from Lenders Mortgage Insurance (LMI) company Genworth revealed that 45% of mortgage brokers surveyed believe helping Australians overcome the lack of access to affordable housing will be one of the mortgage industry’s biggest challenges over the next five years.
The 2013 Home Grown Report, drew upon findings from quantitative surveys, interviews, and workshop discussions held between August and October this year.
It also revealed that 43% of lenders lenders expect the market to be potentially impacted by a weak domestic economy, while 37% of lenders think housing affordability and regulatory impacts will adversely affect the market.
“The recent resurgence of growth in property prices has likely led to a situation where mortgage industry participants are concerned about how housing affordability will affect certain segments of their customer base,” Genworth Australia’s chief commercial officer Bridget Sakr said.
“Around one in two brokers surveyed wrote fewer loans to first homebuyers over the previous 12 months when compared with the preceding 12 month period.”
“This suggests that prospective first homebuyers continue to experience difficulty in entering the property market and this issue is negatively affecting the amount of business brokers are writing for this group,” Sakr said.
Over 40% of lenders agreed that removing or reducing stamp duties that would benefit the mortgaged market. In addition, 30% of brokers agreed with this assertion.
“However, many participants also argued that removing or reducing stamp duties would only drive up prices and impact housing affordability further,” said Sakr. 
“The sector is clearly very concerned about the issue of housing affordability and how it is going to affect the mortgage market moving forward,” Sakr added.
Both lenders and brokers believe borrowers will increasingly use technology to apply for mortgages. A majority of lenders (90%) and brokers (65%) expect an increase in mortgages sold through online channels in the next five years.
Additionally, 74% of lenders surveyed and 50% of brokers expect to see more borrowers purchasing mortgages using their mobile devices.
However, industry experts interviewed for the study agreed that “the automatic online loan is a long way away” as mortgages are “too complicated for digital channels.”
“The online arena provides a platform for innovation and differentiation in a competitive market,” said Sakr.
“The ongoing digitalisation of the sector is likely to continue,” she added.
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Access to affordable housing key for brokers and lenders: Genworth

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A recent report from buyer’s agent Secret Agent revealed that while Melbourne’s housing and apartment market is expensive, it still provides good value compared to the top end of New York real estate.
New York saw a new precedent sale last year of $88 million for a penthouse in the <a href="https://www.15cpw.com/" target="_blank">15 Central Park West development</a>, making it worth $140,000 per square metre.
In Melbourne, Secret Agent states that stock from the top end of the market trades at around $20,000 per square metre.
Secret Agent found that the New York properties were quite large. Four or five bedroom properties are common. The bedrooms also often have a separate ensuite and a good-sized walk in wardrobe.
Natural light and eternal windows are key features in all plans. Some of the largest results are in older buildings with very convoluted floor plans – contrary to contemporary living spaces which emphasise open plans.
Generous terraces make up for the “cut up” floor plans, and the best ones face south to take advantage of the New York summer sun.
Older apartment buildings in New York like <a href="https://en.wikipedia.org/wiki/740_Park_Avenue">740 Park Avenue</a>, built 1930, have shown longevity in success over the years. The popularity of newer apartments with floor to ceiling glazing and a contemporary feel remains to be seen.
To date, Melbourne’s top apartment sales have occurred around East Melbourne and St Kilda Road.
The floor plan from one of the largest sales in the Royal Domain building (price undisclosed) is pictured below.
<img width="372" height="268" src="/images/stories/diane/Screen_Shot_2013-11-19_at_4.34.38_PM.png" alt="Screen_Shot_2013-11-19_at_4.34.38_PM">
Image courtesy of Secret Agent
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Melbourne's top end provides better value compared to New York: Secret Agent

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An unfinished four-bedroom, two-storey home in New South Wales’ Bullaburra was the most affordable auction sale last weekend.
Located at <a href="https://www.realestate.com.au/property-house-nsw-bullaburra-115133903" target="_blank">373 Great Western Highway</a>, the house sold for $191,000 through First National Real Estate – Mid Mountains.
Prior to this sale, the house last sold in 2007 for $240,000, according to RP Data records.
Listing agent Gary Brown told Property Observer the auction was “very good”, with 10 registered bidders present.
The successful bidder was an investor.
“He’s a builder – he’s not going to live in it, probably going to keep it as a rental, or flip it,” Brown said.
He added that the vendor was a builder who had lost motivation and enthusiasm in finishing the project.
While the property is located on the highway, it is 400 metres from the station with a bus service out the front. Its back also faces a park, which is ideal for families.
Brown also noted that Bullaburra’s property market is easily affected by the Sydney property market, as most buyers are from Sydney.
“When Sydney goes good, we go good; when Sydney goes bad, we go bad,” he said.
Hence, the property market in Bullaburra is going well at the moment.
“In the last six months, we’ve had a $35,000 increase per property. But mind you, we’ve had nine years of very slow growth,” he said.
He added that investor activity is very strong in the area at the moment, while first homebuyers have lost interest in the area.
“We’re seeing a lot of mum and dad investors, builders, and a lot of self-managed super funds,” he said.
According to First National Mid Mountain’s estimated asking rent of $380 per week once the property is done up, the price reflects a 10.35% yield.
According to the <a href="/news">latest RP Data report</a>, the median house price in Bullaburra is $327,500, down 3.1% on last year. The average discount required to sell a house is 7.9%, while private treaty sales average 135 days on market.
The median asking rent for a house is $363 per week, while gross rental yield currently stands at 5.8%.
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Unfinished home in NSW's Bullaburra fetches $191,000, reflects 10.35% yield

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Fewer first home buyers were recorded this spring as a result of rising prices, dominant investors, and a shortage of properties, according to Raine &amp; Horne executive chairman and chief executive Angus Raine.
“However we shouldn’t underestimate the impact the GFC-driven tax breaks a few years back had in flushing out many first home buyers earlier than normal,” he says.
Matthew Brown, NSW state manager for Your Broker, Raine &amp; Horne’s financial services division, notes that while investors have an added advantage, strategic planning could help first time home buyers compete with investors for entry-level in today’s buoyant property market.
“Investors do have an advantage as many have the experience and the financial capacity to push through a fast contract exchange in a few days, where it often takes first time buyers eight to 12 days to get to the point of exchanging contracts,” says Brown,
He adds that Your Broker guarantees loan approvals in five days, if the borrower provides all required documentation.
“To compete, first home buyers need to be confident that they can make an offer for a home as soon as possible to compete with investors, and this is where a fast approval process, facilitated by a mortgage broker, can be helpful.”
Brown advises that the basis of a fast approval is a pre-approved home loan.
“To obtain a pre-approval, buyers are asked to submit loan documentation such as employment history, wages and salary information, assets, and liabilities such as credit card debts, while a lender will also usually do some credit checking,” says Mr Brown.
“A pre-approval gives you some confidence about how much a lender is willing to lend, which is useful information to have when making an offer on a home.”
While a pre-approval does not guarantee a successful or quick approval, Brown says it demonstrates to real estate agents that a first time buyer is committed and serious.
Secondly, a clean credit history can help fast-track the mortgage approval process for first home buyers.
Brown adds that part of Your Broker’s services includes a financial health check that evaluates a first time borrower’s credit history and risk.
Thirdly, a larger deposit could help speed up the approval process by up to five days.
“Where a borrower fronts up to a lender with a deposit that is less than 20 percent of the value of the property, they will be forced to pay Lenders Mortgage Insurance (LMI), which covers the lender in the situation where they default,” says Brown.
“Having a bigger deposit reduces the lender’s risk but also speeds up the approval process, as LMI approval is not required – LMI approval can add up to five days to the overall mortgage approval process,” he says.
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First home buyers, here's how to compete with investors: Raine & Horne

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From November 25, the Commonwealth Bank of Australia will change aspects of its lending policy.
The new policies outline that rental income from a residential property used for servicing cannot exceed 8% of the owners estimated value or contract of sale amount. 
This means the CBA will only accept a maximum gross rental yield of 8% for servicing.
Additionally, a new rental income referral rule will apply for applications in categories 3, 4, and 5, where the rental income is more than 50% of the total income used or servicing.
CBA spokesperson Steve Batten told Property Observer, “The rationale behind this change is that high rental yields in some areas of the country, particularly in mining towns, are not sustainable.
While this only will impact a very small number of customers, we would like to ensure we continue to lend responsibly. As such home loan/investment home loans and lines of credit reliant on rental income from a residential security for servicing will not be able to exceed the 8% rental yield.
On average the rental yield around Australia is approximately 4.5%.”
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CBA to change lending policy from November 25

<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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