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A three-bedroom house in Carrum Downs was the weekend’s most affordable auction sale in Victoria, according to Australian Property Monitors.
Located at <a href="https://www.realestate.com.au/property-house-vic-carrum+downs-114495439">3 Oakes Place</a>, the house sold for $306,000 through Munn Partners Real Estate Carrum Downs.
Listing agent Michelle Munn told Property Observer that the auction was “good”, with about 20 attendees and two registered bidders.
The successful bidder was an owner-occupier.
Munn added that the property market in Carrum Downs is “pretty good” at the moment, with properties in the $300,000 to $350,000 price range selling “fairly quickly”.
“First home owners and owner-occupiers are buying, rather than investors. It’s a popular area as it’s cheaper than the surrounding areas like Seaford. It’s a little bit more reasonably priced,” she said.
Prior to this sale, the house was last listed for sale in 2004 at an asking price of $240,000. It spent 41 days on market, according to RP Data records.
According to Munn Partners Real Estate’s estimated asking rent of $335 per week, the price reflects a 5.69% rental yield.
According to the latest RP Data report, the median sale price for houses in Carrum Downs is $325,500, down 3.7% on last year. The average discount required to sell a house is 6.1%, while private treaty sales average 75 days on market.
The median asking rent for houses in Carrum Downs is $320 per week, while gross rental yield currently stands at 5.1%.
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Carrum Downs cheapie sells for $306,000 reflecting 5.69% yield

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Home builders ICHIJO homes have won the 2013 Housing Industry Association (HIA) GreenSmart Award for the Harmony 28, a home with a 8.2 Nationwide House Energy Rating Scheme (NatHERS) rating.
<a href="https://www.ichijo.com.au/" target="_blank">ICHIJO</a>'s sales manager Nick Marino accepted the award. He said the company is delighted with the recognition of the home's energy saving capabilities which benefits homebuyers who choose an ICHIJO home.
<img src="/images/stories/diane/82020Modular20wall.jpg" width="470" height="355" alt="82020Modular20wall">
<img src="/images/stories/diane/Alfresco20showing20exterior20tiles.jpg" width="470" height="313" alt="Alfresco20showing20exterior20tiles">
<img src="/images/stories/diane/BEDROOM.jpg" width="470" height="313" alt="BEDROOM">
<img src="/images/stories/diane/TechIsmartWindows20.jpg" width="470" height="354" alt="TechIsmartWindows20">
"The Harmony 28 features four large bedrooms, luxurious ensuite, stunning open plan kitchen that overlooks the dining and living areas through to the alfresco making entertaining a breeze.
"The design, with its high ceilings and openness gives a feeling of spaciousness and luxury and there is a home theatre for quiet moments", Marino added.
The ICHIJO Harmony 28 home is modular, rigid, and super insulated. It features an insulation property of R6.3, which is nearly three times the insulation of a normal brick-veneer wall.
The walls are wrapped with a bracing board with 70% more structural timber, making it stronger. The ICHIJO i-Smart double glazed windows have an argon gas infill, cutting 99% of UV radiation coming into the home, and are fitted into a uPVC frame. These achieve a U1.9, or nearly four times the heat insulation properties of a brick veneer home.
The Harmony 28 homes also use Hydrotect tiles on external walls that are self-cleaning by using the power of UV rays to decompose whatever adheres on it, allowing the rain to wash it away. ICHIJO also uses H2F structural members for its frames and a Homeguard physical barrier to provide double protection against termites.
In addition to structural improvements, ICHIJO aims to maximise the use of solar power. The homes are fitted with a 1.5 kW solar PV panels, which when combined with a heat pump, will produce hot water for a day in four hours, using electricity generated by the PV.
Excess electricity produced by the PV can be used for other purposes, such as cooling the home. Surplus electricity will then be sold back to the grid.
ICHIJO homes also use a mechanical ventilation system to filter the incoming air and recover heat from stale air. This has won it a “Healthy Home” stamp approved by the National Asthma Council, the first in Australia.
Other energy-saving initiatives include the use of LED lighting saving 60% energy savings, and the installation of low water usage toilets and showers with a minimum of a three-star rating. A Clipsal cent-a-meter will also be installed, showing the amount of electricity being used at any time so residents can monitor usage.
The Harmony 28 Home will be on display at HomeWorld Gledswood Hills, and will be open for inspection for Sustainable House Day, held on September 8. 
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ICHIJO Homes win HIA GreenSmart Award with Energy-saving Home Design

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The family company of late Gold Coast developer Keith Williams has collapsed into liquidation after the Port Hinchinbrook resort in North Queensland failed to sell. 
Creditors, including Mr Williams’ son Ben Williams, voted to wind up Williams Corporation on Wednesday, 28 August.
The company’s assets are now controlled by liquidator FTI Consulting. These include the Port Hinchinbrook resort, which comprises private dwellings for 250 residents and tourist accommodation.
Located between Cairns and Townsville, the resort was battered in 2011 when huge waves caused by Cyclone Yasi slammed multimillion-dollar boats from the water against the marina.
Since then, the resort has struggled to rebound from the damages, with the marina, restaurant, bar, and much of its accommodation still shut.
The elder Mr Williams passed away in 2011 after handing over the reigns of the company to his son.
Townsville businessman Anthony Dotta showed interest in purchasing the resort for $19 million in June, according to a report by the Cairns Post.
He became uncertain about the sale after it was revealed the elder Williams signed a deed binding the resort’s owner to the maintenance of the sewerage system, roads, and the marina in the late 1990s. Dotta, who led a consortium of buyers, withdrew his offer to purchase the resort in August.
A Fairfax Media report states that liquidator Joanne Dunn said FTI is negotiating with the state government over the deeds and licences that apply to the resort community.
Dunn also said FTI will be looking at marketing the properties and putting them on the market for sale, after getting over “a few hurdles”.
Keith Williams was a pioneer in Australia’s tourism industry. At one time, his fortune was estimated to be worth $150 million.
He developed the Sea World amusement park in Gold Coast, and the Whitsundays’ Hamilton Island resort. He sold his holdings in Sea World in 1984 to focus on Hamilton Island.
However, receivers were appointed to the Hamilton Island resort in 1992. It was later purchased by billionaire winemaker Bob Oately.
Williams bought the Port Hinchinbrook site the following year. The site has been plagued with funding and environmental issues. Williams Corporation’s administrators were forced to replace some of the system’s pumps in August after it broke down, causing a sewage leak.
According to a report by the Townsville bulletin, Port Hinchinbrook residents were “cautiously optimistic” that the purchase of the resort would restore the development to its full potential. However a News Limited report stated that one resident was really hoping to “get some sort of closure”.
The Cardwell Chamber of Commerce has called upon the Queensland Government to assist in the smooth sale of Port Hinchinbrook. In a ABC report, the Chamber’s spokesperson said the resort must stay open to aid in Cardwell’s post-cyclone recovery.
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Keith Williams Point Hinchinbrook windup

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<img height="90" width="470" src="/images/stories/diane/banner-henbury.jpg" alt="banner-henbury">
Henbury Station, where one of Australia’s most controversial carbon farming projects is located, was placed on the market last week through the insolvency firm PPB Advisory.
Located 230 kilometres south of Alice Springs, the property was purchased and destocked by R.M. Williams Agricultural Holdings in 2011 with $9 million of federal funding.
R.M. Williams Agricultural Holdings, the parent of a few subsidiary companies, has since gone into administration. PPB Advisory was appointed as administrator and manager.
However, the company responsible for the Henbury Station project, R.M. Williams Agricultural Co Landscape Management, was the only subsidiary company to not go into receivership.
Greg Quinn from PPB Advisory said the company name has been changed ahead of the station’s sale, in an ABC report.
"The licence agreement with R.M. Williams Agricultural Landscape Management has now been terminated, so we've had to change the name to Henbury Station Proprietary Limited," he said.
"The directors have resigned and retired and we've had to appoint a director, Mr Bob Hansen, who is bringing the property to market."
Hansen was previously the Peanut Company of Australia’s chief executive and a manager for poultry company Ingham’s in Victoria.
Quinn revealed that a Federal Government agreement, as well as a deal with Qantas, still applies to the property. Qantas previously agreed to purchase carbon credits generated at the property.
"The contracts and agreements are still on foot," he said.
"It will be up to a purchaser to do their due diligence... and negotiate going forward.
"A lot of the conditions of those agreements are commercially sensitive," he said.
Mr Quinn added that there would be no requirement for R.M. Williams Agricultural Holdings to repay the initial investment in the purchase of Henbury Station at this stage.
Some proceeds from the sale may be returned to the Federal Government.
He said in the ABC report that there has already been extensive interest in the property from environmental, Indigenous and pastoral organisations.
Director of the Central Land Council David Ross said in an ABC radio report that the Council wants Henbury Station returned to the traditional owners of the land.
Henbury Station, known to locals as “Henbury”, was once a cattle empire. It was planned to become part of the National Reserve System and be regenerated after nearly 150 years of grazing.
Carbon credits sold from its natural regeneration would have made it the world’s largest carbon farm.
The property can be put on the market because Henbury was never transferred from a pastoral lease to a conservation covenant, a requirement of the National Reserve System.
Expressions of interest for Henbury station close September 6.
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Henbury Station, NT listed for sale through insolvency firm PPB Advisory 

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Australians with home loans will most likely have to wait until Melbourne Cup day for the next interest rate cut.
Scott Haslem, the UBS Australia chief economist, recently told APP that the Reserve Bank of Australia was unlikely to move until after the September quarter inflation figures were released on October 23.
He suggests the RBA was unlikely to adjust rates at their September and October meetings, making "November the next live meeting."
The 2.5% cash rate is a new record low for borrowers.
Property Observer gleans the market's lowest variable rate is the Smart Finance Horizons Loan home loan at 4.44% variable (4.77% comparison) and the lowest one year fixed rate is 4.39% from Newcastle Permanent.
The lowest three year fixed rate is 4.69% (5.01% comparison) from HomeLoanHQ.
These are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison websites <a target="_blank" rel="nofollow" href="https://www.ratecity.com.au/" style="font-size: 14px;">ratecity.com.au</a>, <a target="_blank" rel="nofollow" href="https://mozo.com.au/" style="font-size: 14px;">Mozo.com.au</a>,  <a target="_blank" rel="nofollow" href="https://www.infochoice.com.au/" style="font-size: 14px;">infochoice.com.au</a> and <a target="_blank" rel="nofollow" href="https://www.homeloanfinder.com.au/" style="font-size: 14px;">finder.com.au</a> as of August 27:
Where the headline rate is the same, the lender with the lowest comparison rate gets preference.
Lowest variable rate offerings:
<table width="469" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="134" valign="top">
Provider
</td>
<td width="125" valign="top">
Loan name
</td>
<td width="93" valign="top">
Rate
</td>
<td width="117" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="134" valign="top">
Smart Finance
</td>
<td width="125" valign="top">
Horizon Loan (Refinance Only)
</td>
<td width="93" valign="top">
4.44%
</td>
<td width="117" valign="top">
4.77%
</td>
</tr>
<tr>
<td width="134" valign="top">
Loans.com.au
</td>
<td width="125" valign="top">
Blackboard special (Purchases only)
</td>
<td width="93" valign="top">
4.49%
</td>
<td width="117" valign="top">
4.51%
</td>
</tr>
<tr>
<td width="134" valign="top">
UBank
</td>
<td width="125" valign="top">
UHomeLoan
</td>
<td width="93" valign="top">
4.62%
</td>
<td width="117" valign="top">
4.62%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings:
<table width="469" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="125" valign="top">
Provider
</td>
<td width="113" valign="top">
Loan name
</td>
<td width="84" valign="top">
Rate
</td>
<td width="106" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="125" valign="top">
Newcastle Permanent
</td>
<td width="113" valign="top">
One year fixed rate
</td>
<td width="84" valign="top">
4.39%
</td>
<td width="106" valign="top">
5.38%
</td>
</tr>
<tr>
<td width="125" valign="top">
UBank
</td>
<td width="113" valign="top">
UHomeLoan 1 year fixed rate
</td>
<td width="84" valign="top">
4.48%
</td>
<td width="106" valign="top">
4.86%
</td>
</tr>
<tr>
<td width="125" valign="top">
IMB
</td>
<td width="113" valign="top">
Fixed Home Loan ($250k - $500k)
</td>
<td width="84" valign="top">
4.59%
</td>
<td width="106" valign="top">
5.52%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings:
<table width="473" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="133" valign="top">
Provider
</td>
<td width="130" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="115" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="133" valign="top">
HomeloanHQ
</td>
<td width="130" valign="top">
3 Year Fixed Rate Special
</td>
<td width="95" valign="top">
4.69%
</td>
<td width="115" valign="top">
5.01%
</td>
</tr>
<tr>
<td width="133" valign="top">
AMP
</td>
<td width="130" valign="top">
Fixed Rate Loan (over $250k) (Professional Package)
</td>
<td width="95" valign="top">
4.69%
</td>
<td width="115" valign="top">
5.56%
</td>
</tr>
<tr>
<td width="133" valign="top">
UBank
</td>
<td width="130" valign="top">
UHomeLoan 3 year fixed rate
</td>
<td width="95" valign="top">
4.73%
</td>
<td width="115" valign="top">
4.79%
</td>
</tr>
</tbody></table>
 
<hr>
Picture courtesy of <a id="yui_3_7_3_3_1377649112978_1036" href="https://www.flickr.com/photos/silverstack/">SilverStack</a>/ flickr.
 
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The cheapest rates ahead of the next likely RBA rate cut on Melbourne Cup day

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A three-bedroom house in Hoppers Crossing was the weekend’s cheapest auction sale in Victoria, according to Australian Property Monitors.
Located at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-hoppers+crossing-114392127">34 Baden Drive</a>, the house sold for $285,000 through PRDnationwide Werribee.
Listing agent Greg O'Meara told Property Observer that the auction “went well”, with over 60 attendees, and five registered bidders.
The successful bidder was an investor.
O'Meara added that the house was in an excellent location. The listing states that it is about 600 metres from the train station and about 400 metres to shops.
“It’s about location, location, location – as an investment property you wouldn’t have any problems renting it out,” he said.
According to PRDnationwide’s estimated asking rent of $275 a week, the price reflects a 5.02% rental yield.
Prior to this sale, the house was last listed for sale in 2008 at an initial asking price of $245,000 before it was adjusted to $265,000, according to RP Data records. It spent 280 days on market.
According to the <a href="/news">latest RP Data report</a>, the median sale price for houses in Hoppers Crossing is $310,000, down 3.4% on last year. The average discount required to sell a house is 7.4%, while private treaty sales average 80 days on market.
The median asking rent for houses in Hoppers Crossing is $280 per week, while gross rental yield currently stands at 4.7%.
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Investor snaps up Hoppers Crossing cheapie at $285,000 reflecting 5% rental yield

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Fund manager Centuria Capital has abandoned plans to launch the $215.3 million IPO of the Centuria Property Trust.
The group admitted it was unable to win sufficient institutional support for its proposed listing of the Trust, which was set to own the $312 million Northpoint Tower in North Sydney.
It was reported that property developer Terry Agnew, who had a 19.9 per cent stake, was asked to take a higher stake.
"Whilst there was good support for the Trust's strategy and management, Centuria is disappointed the offering did not receive sufficient demand to complete the IPO notwithstanding the strong lead from domestic and Asian retail investors," Collishaw said in a Fairfax report.
"Centuria remains committed to delivering quality real estate investment funds for its clients and retains its aspiration to create a listed real estate funds management platform,” he said.
He noted that market conditions pushed investors to stay with existing products rather than back new floats.
The advisers Moelis &amp; Co cited the volatile sharemarket as a main reason, as well as uncertainty in the leadup to the September 7 federal election, on the decision to cancel the deal.
This cancellation follows the recent postponement of the $367 million Pacific Retail REIT, which planned to purchase four suburban malls from CFS Retail, including the Rosebud Plaza in Victoria.
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Centuria forced to cancel planned IPO due to shortfall

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The Gold Coast property market has shown signs of sustained improvement, recording the highest number of land sales in the June quarter since September 2011, according to property market research firm Prodap.
The report revealed that vacant land sales jumped 55% from 140 to 214 in the June quarter.
According to the report’s author Bill Morris, this is the first significant increase since June 2009, and is the strongest level of quarterly land sales for two years.
House and land package sales have also increased by 70%, from 56 to 97 sales, in the June quarter. Morris states that this is the strongest level since December 2010.
The report also states that Upper Coomera saw the highest number of land sales at 73, while Hope Island comes in second with 69 sales. Ormeau recorded 22 vacant land sales in the June quarter.
Pimpama recorded 11 vacant land sales, Coomera and Ready Creek recorded 10 sales each, and Willowvale saw 6 vacant land sales.
Developments in Upper Coomera with vacant land lots include: Coomera Retreat.
Located on <a href="https://www.realestate.com.au/project-coomera+retreat-qld-upper+coomera-600000087">22 Hans Street</a> in Upper Coomera, Coomera Retreat is a freehold estate in North Gold Coast, close to amenities, schools, and close to public transport. 
Vacant land is priced from $199,900 and House/Land packages start from $355,000.
Developments in Hope Island with vacant land lots include: Cova.
Located 61 kilometres from Brisbane CBD, <a href="https://www.realestate.com.au/project-cova-qld-hope+island-600002603">Cova</a> has released three precincts: North Quay, Leeside, and Lakeside. North Quay comprises of 12 north-facing land lots fronting the Hope Island Canal, and has recorded 75% of sales thus far.
The remaining absolute canal-front blocks in North Quay range in size from 471sqm to 528sqm and are priced from $495,000.
Developments in Ormeau with vacant land lots include: The Brook.
Located 40 kilmetres from Brisbane CBD and 30 kilometres from Surfers Paradise, <a href="https://www.thebrookestate.com.au/now-selling">The Brook</a> features large homesites up to 945 square metres.
Residential land is priced from $200,000.
According to the <a href="/news">latest RP Data report</a>, the median sale price for houses in Upper Coomera is $385,000, up 1.9% on last year. The average discount required to sell a house in 11.9%, while private treaty sales average 113 days on market.
The median asking rent for houses is $400 per week, while gross rental yield currently stands at 5.4%.
According to the <a href="/news">latest RP Data report</a>, the median sale price for houses in Ormeau is $410,000, down 2.6% on last year. The average discount required to sell a house is 9.7%, while private treaty sales average 127 days on market.
The median asking rent for houses is $420, while gross rental yield currently stands at 5.3%.
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Gold Coast property market showing signs of recovery: Prodap

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A three-bedroom house in Melton was a recent weekend cheapest auction sale, according to Australian Property Monitors.
Located at <a href="https://www.realestate.com.au/property-house-vic-melton-114351347">504 High Street</a>, the house sold for $220,000 through First National Real Estate Melton.
First National Melton agent Justin Carberry told Property Observer there were about 20 people present at the auction, with four registered bidders.
The successful bidder was an investor.
The listing states that the property has “future development potential. Other possibilities may include but are not limited to the use of the premises for commercial business. 
Carberry noted that the successful bidder had no intention of using the property for commercial business as yet.
He added that no reserve price was set for the property as it was a deceased estate handle by state trustees.
Carberry also told Property Observer that the property market in Melton is “moving along fine” at the moment.
“Prices haven’t gone up. We’re seeing more buyers and houses are selling, but we haven’t had a price rise in awhile,” he said.
With First National Melton’s estimated rental of $255 a week, the price reflects a 6.03% rental yield.
According to the <a href="/news">latest RP Data report</a>, the median sale price for houses in Melton is $241,000, down 3.6% on last year. The average discount required to sell a house is 10%, and private treaty sales average 107 days on market.
The median asking rent for houses in Melton is $250 per week, while gross rental yield currently stands at 5.4%.
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Melton cheapie sells for $220,000 and 6% rental yield

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A report by the Hong Kong and Shanghai Banking Corporation (HSBC) has found that Australia is the most expensive country for international study, surging ahead of the United States and the United Kingdom.
The report found that the average annual cost of study in Australia amounted to some US$38,000, followed by the United States at US$35,000, and the United Kingdom at US$30,000.
HSBC Australia head of retail banking and wealth management Graham Heunis said the strength of the Australian economy and the Australian dollar has kept the cost of studying in Australia high relative to other markets.
According to data from Australian Education International, there were 379,214 enrolments by full-fee paying international students as of June this year, a decline of 2.2% on last year. This is in contrast to a 5.8% average increase of enrolments each June in the last decade.
Heunis believes the falling Australian dollar and improved visa processing could see student enrolments bouncing back.
“While Australia’s education sector has taken a hit in terms of overseas student numbers, the proportion of international students in Australia remains strong, indicating many are looking past the cost impact to other factors such as quality of life and education and proximity to home.
The falling Aussie dollar and simplified visa process should spark a resurgence in overseas students placing Australia on top of their destination lists,” Heunis said.
Australian universities continue to be competitive compared to their international counterparts.
Seven Australian universities retained their top 200 positions in the Academic Ranking of World Universities (ARWU) prepared by China’s Shanghai Jiaotong University.
The University of Melbourne remained as Australia’s top institution, moving up three spots to 54th place.
Melbourne has ranked number one in Australia for three consecutive years, and was also the first Australian university to achieve a top 200 ranking in the ARWU for all ten individual disciplines.
Other universities in the top 100 include the Australian National University (66), University of Queensland (85), University of Western Australia (91) and University of Sydney (97).
Monash University and the University of NSW were named in the 101-150 band.
A report from the International Education Advisory Council released in February this year projected a 30% growth to the education industry by 2020, estimating that Australia will be home to some 520,000 international students, contributing $19.1 billion to the local economy.
The same report revealed that 52% of the $15.7 billion revenue from the international education sector in 2011 went towards host communities – including accommodation providers, the retail sector, travel services and other community enterprises.
Property Observer recently reported that there is a shortage of purpose-built student accommodation in most Australian capital cities.
Currently, there are 41,250 beds available for students around Australia, leading students to turn to the private rental market for their accommodation needs.
As of the 2011 Census, there are over 826,200 units in main cities around Australia. However, a 2012 Jones Lang LaSalle report found many students encounter difficulties in securing private rental accommodation due to fierce competition from other potential tenants, unaffordable rentals, and a national vacancy rate of around 2%.
The same report also revealed that Australia is considered to be ten years behind mature markets in providing quality student housing. This therefore gives investors an opportunity to reap the benefits of early entry into the market.
Other attributes of the student housing sector include solid rental growth above inflation rates, resilient performance in downturns, strong demand, and high occupancy rates.
This has led student accommodation providers such as Urbanest and The Pad to expand their operations.
Urbanest, which provides student acommodation in Adelaide, Sydney, and Brisbane, is launching a Melbourne student accommodation building next February in Carlton.
Meanwhile, <a href="https://www.propertyobserver.com.au/victoria/investor-interest-sought-for-rmit-village-student-accommodation/2013081863581?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" title="Investor interest sought for RMIT village student accommodation">investor interest is being sought for RMIT village student accommodation</a> in North Melbourne. The <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-north+melbourne-500822239" target="_blank" rel="nofollow" style="font-size: 14px;">Jones Lang LaSalle</a> marketing gives a projected net income of $4.6 million for this year.
Brisbane-based student accommodation provider The Pad also recently announced expansion plans to Sydney, Melbourne, and Canberra, following the backing of investment group Telopea Capital Partners. 
Image courtesy of Justin Kim/flickr.
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Australia the most expensive country for international study but remains attractive for students and investors

<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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