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Sydney and Melbourne have recorded record auction results for the autumn period, ahead of an expected <a href="https://www.smartcompany.com.au/finance/investment/41315-pre-easter-auctions-rush-means-falling-clearance-rates-and-buyers-spoilt-for-choice" target="_blank">wind-down over the Easter break</a>.
Australian Property Monitors senior economist Andrew Wilson told SmartCompany buyers and sellers in both Sydney and Melbourne should be pleased with the weekend’s results, with clearance rates up almost 5% in Sydney to 78.1%, and up 0.6% in Melbourne to 72.3%.
Wilson said Sydney’s clearance rate has now dipped below 80%, after more than two months above the level.
“This is no real surprise given the high number of listings,” Wilson says. The weekend’s results are based on 1,111 listings, 697 auctions and 581 properties sold, compared to 821 listings, 709 auctions and 570 sales last week. Nevertheless, Wilson says it could be sign of a slight downwards trend in the Sydney market.
The most expensive property sold in Sydney was a four bedroom house in Lane Cove on Sydney’s lower north shore, which was sold for $4.9 million. The most affordable property was a studio apartment in Surry Hills, which fetched $220,000 at auction.
In Melbourne, 1,277 properties were listed, 944 auctions held and 686 properties sold. This compares to 1,007 listings, 898 auctions and 654 properties sold the week before. “It was the best result in a month,” says Wilson.
A three-bedroom house in Toorak was the most expensive property sold at $2.7 million, while a house of the same size in the western suburb of Kurunjang was the most affordable at $235,000.
However, Melbourne may also be following in Sydney’s footsteps, with Wilson saying there are a number of negative aspects of Victoria’s economy that are acting as a drag on the capital city’s clearance rate, which has been falling since the Labour Day weekend in early March.
Wilson said the weekend’s results will give the market “pause for reflection over the next two weeks before it all starts up again”, although the market typically quietens over the winter months.
Click here for the full list of APM's 12 April weekend auction results for Sydney, Melbourne, Brisbane and Adelaide.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Bumper property pre-Easter weekend with record auction results

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Australian workers may be required to work until they are 70 years old, with Federal Treasurer Joe Hockey flagging the possibility of the government raising the retirement age for Australian workers in this year’s budget.
In <a href="https://www.theaustralian.com.au/national-affairs/prepare-for-a-retirement-age-of-70-joe-hockey/story-fn59niix-1226882446948?utm_source=The%20Australian&amp;utm_medium=email&amp;utm_campaign=editorial&amp;net_sub_uid=68625280" target="_blank">an interview with ABC TV</a>, Hockey said his generation may have to “work for an extra three years and we need to redesign our systems to manage that fact”.
The previous Labor government raised the retirement age from 65 to 67, which will come into effect from 2023. <a href="https://www.theaustralian.com.au/national-affairs/policy/pension-tests-facing-budget-axe/story-fn59nsif-1226883098733?utm_source=The%20Australian&amp;utm_medium=email&amp;utm_campaign=editorial&amp;net_sub_uid=87677912" target="_blank">The Australian</a> reports an increase in the retirement age to 70 may not come into effect until 2040.
While many <a href="https://www.smartcompany.com.au/people/industrial-relations/34750-australians-could-be-forced-to-work-into-their-80s-how-to-get-more-from-your-superannuation" target="_blank">Australian workers will need to work their entire lives out of financial necessity</a>, Pitcher Partners executive director of business advisory and assurance Adrian Fitzpatrick says a further change in the retirement age could be a positive thing for Australian businesses.
“Businesses can benefit from good employees staying on longer with the business,” Fitzpatrick told SmartCompany. “These employees often take on a mentoring role with younger employees and they can help with transitions.”
Fitzpatrick says the change is also a chance for employees to become more engaged in the business, as they have an opportunity to add additional funds to their superannuation savings.
“We often find that people become distracted if they are approaching retirement concerned about their superannuation,” says Fitzpatrick. “Employees who feel secure with their super are often more engaged.”
However, Fitzpatrick says it will be critical for businesses to manage salary expectations for workers who will be working longer. He says working arrangements will also need to be more flexible as older workers seek to balance work commitments with other interests such as travel and family time.
There is also a danger of companies becoming too conservative if they are dominated by older employees, says Fitzpatrick. He says it is important for businesses not to “dampen new business opportunities” that often come from young, entrepreneurial workers.
Hockey has also hinted at a possible change to the way the aged pension is indexed, moving from the current system, which links the pension to the average male weekly earnings, to a system whereby the pension would be linked to the inflation rate.
“I’m not going to speculate on the budget but I will note that … over the last 40 years 60% of male workers in the USA have had a real cut in their incomes,” said Hockey. “In Australia we haven’t had that. Male weekly total earnings have been at a higher rate but it is not always going to be the higher rate.”
Opposition finance spokesperson Tony Burke has criticised the government, which he said would be breaking a pre-election promise if it was to raise the retirement age. <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-04-13/joe-hockey-flags-changes-to-age-pension-eligibility-age/5386828" target="_blank">Burke told the ABC</a>  the change would hit blue-collar workers the hardest and would be a “very big deal” for individuals with small superannuation savings who may be required to do physical labour for longer.
While the proposed changes are not likely to come into effect any time soon, Fitzpatrick advises businesses owners to sit down with employees who are in their late 50s and early 60s to start planning now. “It’s never too early to start talking about these things,” he says.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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Joe Hockey flags plans to raise retirement age

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GUEST OBSERVATION
The starter’s gun has fired on the countdown to the 2018 Commonwealth Games on Queensland’s Gold Coast and the positive impact of this major catalyst event is already being felt in the local commercial property market.
History shows that cities around the world have seen a pick-up in property activity up to four years out from global events such as the Commonwealth Games, and the Gold Coast will be no exception.
Indeed, the momentum of the approaching games is already evident and is likely to surpass that experienced by other host cities, given it is the first time a global event of this magnitude has been held in a regional Australian city.
The 2018 Commonwealth Games is the trigger for increased activity across the board for the Gold Coast commercial property market.
On the sales front, the Gold Coast is again back on the radar of domestic and overseas investors and the increasing weight of money entering the market will drive continued investment activity. This can be seen in the increase in enquiry for prime development sites, particularly in key locations such as Southport overlooking the water.
In terms of leasing, some national and international firms have already made the move into the Gold Coast and more are expected as global attention on the city increases in the lead up the Commonwealth Games. Vacancy rates are tightening and both commercial office and retail leasing enquiry has been strong in the opening moments of 2014, and is expected to continue to rise.
Importantly, the catalyst effects of the Commonwealth Games coincide with a period of renewed infrastructure activity on the Gold Coast, namely the light rail project and major new hospital and health developments.
All of this activity, and indeed much of the focus of the Commonwealth Games including the athletes’ village and new aquatic facilities, is centred on the Southport precinct which has been designated as a priority development area (PDA) by the Queensland state government.
This PDA status is crucial to the emergence of Southport as the true CBD of the Gold Coast, as opposed to the undisputed standing of nearby Surfers Paradise as the city’s tourism capital, and allows for development approval fast-tracking and innovation.
<blockquote>
The Gold Coast is again back on the radar of domestic and overseas investors and the increasing weight of money entering the market will drive continued investment activity.
</blockquote>
Southport is the business and administrative heart of the Gold Coast and its maturing into the city’s official CBD is long overdue. All regions need a recognisable CBD, just as much as capital cities do, to attract national and international firms, create a distinct employment hub and facilitate all the commercial, social and community benefits of agglomeration.
The Southport CBD is the key to unlocking the future economic sustainability of Gold Coast and positioning it to fully capitalise and build on the attention and flow-on benefits provided by the Commonwealth Games.
The Gold Coast is Queensland’s, and indeed Australia’s, premier tourist playground and that is not going to change. It is an exciting coastal city, blessed with surf, sand and good weather and has been the focus of tourist attention, both domestic and international, for decades.
By its very nature of being driven mainly by tourism, the region can be more prone to booms and busts than those cities with more diverse economies.
However, with a permanent population of circa 550,000 residents, the Gold Coast is now home to a growing number of diverse industries and services that stand it in good stead for the future.
This is clearly reflected in the evolving nature of the Gold Coast commercial office market, which is far more mature than in was in the 1990s as the scope of local businesses now spans much more than just pandering to the tourist market. There are now local and national firms across all industry sectors represented in the region, which are well positioned for sustainable future growth.
The 2018 Commonwealth Games is a once in a lifetime catalyst moment for the Gold Coast and the ongoing maturing of its local economy and commercial property market. Combined with a number of important infrastructure and planning initiatives centred around the Southport CBD, the games will deliver a great boost to a wide range of existing and new businesses in the region.
We are already seeing this starting to translate to increased investment and leasing activity, with more much to come over the next four years.
Paul Day is <a href="https://www.savills.com.au/" target="_blank">Savills</a> Queensland head of research.
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Gold Coast to ride wave of Commonwealth Games momentum

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GUEST OBSERVATION
Credit makes us and credit breaks us – ancient Roman debtors cut into pieces by their angry creditors under the law of the Twelve Tables knew it, as does ASIC, tasked with regulating the many mortgage brokers, traders, and intermediaries landing somewhere in the middle of credit and debt.
<a href="https://www.abc.net.au/4corners/" target="_blank">ABC’s Four Corners program</a> last night investigated the pitfalls of using lenders of last resort and the impact of self-described “mortgage trader”, Ian Lazar. Raising serious questions about the conduct of Lazar, the program also suggested ASIC has failed to address the problems facing those caught up in the unlicensed lending market, despite having, as implied on the program, significant powers to do so.
In <a href="https://www.asic.gov.au/asic/asic.nsf/byHeadline/ASICs%20response%20to%20Four%20Corners%20story%20A%20Lender%20of%20Last%20Resort?opendocument" target="_blank">a statement responding to the program</a>, ASIC said it had already assessed a number of complaints against Lazar and would “carefully assess any further complaints”. But it said:
"ASIC has limited resources and we target our enforcement efforts towards matters that have a wider public impact, particularly where they involve retail investors. As a result ASIC generally does not intervene in private, commercial disputes for the benefit of one party."
<blockquote>
ASIC has largely ignored the unlicensed lending market, preferring instead to focus its investigations on wayward licence holders, despite periodic public concern about the behaviour of mortgage traders.
</blockquote>
This is not the first time ASIC’s role has been criticised. In 2011, while accusing Lazar under Parliamentary privilege of defrauding theatrical entrepreneur Kevin Jacobsen, Nationals Senator John Williams said the dispute was a “glaring example of how ASIC can’t be relied upon”.
ASIC’s advice to consumers drawn - or sometimes dragged - into these predicaments, is to remain level-headed and focus on the lending contract. This is good advice – but borrowing in tight situations is often not about level-headedness.
How credit is regulated
ASIC has been responsible for overseeing credit licencees since 2010, when the National Credit Act established a national scheme for all credit providers, finance brokers and other intermediaries.
Since 2003 it had been working to improve standards in the mortgage broking sector, using strategic enforcement action, reviews of consumer problems and working with consumers and industry on codes of practice. So it can’t be said it was unaware of the hurdles it faced.
The National Credit Act calls for those performing a credit service - including acting as an intermediary - to hold a credit licence from ASIC. Applicants must be “fit and proper” and once licensed, avoid conflicts of interest. The definition is wide enough to catch direct, or indirect, assistance to a consumer.
Engaging in credit activities without a licence can incur a civil penalty of up to A$340,000 and a criminal penalty of up to $34,000 and up two years imprisonment, enforced by ASIC.
A person acting as an intermediary in the “chain” between a consumer and lender under a credit contract, or a lessor under a consumer lease, must also hold a credit licence, even if that person has no direct contact with the consumer.
In Information Sheet 101, ASIC explains when conduct amounts to a “referral” in relation to credit activity under the National Credit Act. Important here is when it will not – this is when a referral involves merely informing the consumer that a particular credit activity can be provided, where it can be provided, and any commission payable.
The grey area
Lazar’s description of his activities as “mortgage trading” is not the same as mortgage broking, but the two have a very delicate common denominator – the borrower/consumer.
The National Credit Act is certainly aimed at protecting consumers involved in lending situations. But ASIC has largely ignored the unlicensed lending market, preferring instead to focus its investigations on wayward licence holders, despite periodic public concern about the behaviour of mortgage traders.
Just like the second-tier lending market and mortgage broking, the problems in unlicensed or business-to-business lending involve many aspects which make it hard to simply point to any one cause for the problems that arise.
As the National Credit Act focuses on consumers, ASIC leaves commercial lending arrangements to be monitored by the parties in those arrangements. In certain situations ASIC can use its Corporations Act powers together with the National Credit Act to give it a broad, although not absolute, scope in relation to credit arrangements.
How the regulations are applied is a problem; consumer desperation and gullibility is a problem; inappropriate lending practices and advice is a problem, and as criticism on Four Corners implies, policing by ASIC may be a problem.
Clearly establishing evidence in a world of secret arrangements and little documentation is also a problem. To use its powers under the National Credit Act, ASIC would need identify that the relevant credit arrangements concerned borrowers/consumers who were natural persons, (not corporations or businesses), and this may partly explain why the regulator had not pursued the matters outlined on Four Corners. It should also be noted that where fraud is implicated the matter may more appropriately fall to the police to investigate.
ASIC now needs to use the experience it has accumulated in relation to consumer protection and lending practices, as well as the power it has under the National Credit Act. It is in a good position to make a difference.
Michael Quilter is senior lecturer at the Department of Accounting and Corporate Governance at <a href="https://mq.edu.au/" target="_blank" style="line-height: 1.3em;">Macquarie University</a><img src="https://counter.theconversation.edu.au/content/25255/count.gif" alt="The Conversation" width="1" height="1" style="line-height: 1.3em;">.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/too-many-battles-for-asic-four-corners-and-lenders-of-last-resort-25255">original article</a>.
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Too many battles for ASIC? Four Corners and lenders of last resort

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GUEST OBSERVATION
Although property investment remains very active well into 2014, this does not mean each and every investor is guaranteed success. Once you have found or developed the perfect property, the next step may be to attract and rent it out to quality, reliable tenants as opposed to selling it straight away for a profit.
Needless to say, a property that is well presented will attract tenants who will care for it as if it were their own.  And this is where home staging goes a long way to ensure appropriate presentation of your property.
<blockquote>
Finding the right tenant is not difficult if you determine your target market, create a good impression and screen candidates.
</blockquote>
Furnishing and styling a house, or rather staging it, was once only used to sell off new developments. Today, an increasing number of savvy property investors are using it to showcase a property’s strong points to good quality prospective tenants.
Attracting the right type of tenants is essential to maximising your property investment.  In addition, if you intend to sell an investment property, having top quality tenants ensures that property is even more appealing to buy for other investors.
Finding the right tenant is not difficult if you determine your target market, create a good first impression and screen prospective candidates appropriately.
Step one – Determine the right type of tenant for your property
It is crucial you understand the location of your property, who is living in the area and who wants to live there.
In order to do this, ask your local expert agent.  Look at the schools, transport and other services in the area to try and determine your potential tenant profile.
Are they likely to be young professional couples or families with kids?
Knowing who the renter is and making your place the one that ticks all or at least most of the boxes will mean you will find the right tenant faster.
Step two – Stage your property to make a great impression
The type of tenants who take care of their rental will most likely look for a property that's in great condition to begin with. So take the time to ensure your property is in top shape before listing it for lease.
In addition you want the right people to connect emotionally with your property.  
So, create a space where a prospective tenant can see them selves and they can imagine and aspire to the lifestyle that the property affords.
Staging a property that is for rent is even more important in the sense that people need to know what they can do to the place that is not permanent. 
<blockquote>
You want the right people to connect emotionally with your property. 
</blockquote>
After all their instinct would be to make the space shine and homely, and a perfect spot for them to spend their time. When renting this needs to be done without making huge or permanent changes.
Most of all in pre-sale or rental market property styling, there is the trend to focus on styling for a lifestyle. So if a property has a great outdoor space, don’t leave anything up to the imagination. Style the space to show people how they can use it and enjoy it!
Step three – Finding the right tenant for your property
If you are not confident in finding tenants on your own, sign up an experienced, reputable property manager. Your time is money so the expertise a property manager brings can be very valuable.  
So do your research and find out:
<ol>
<li>Who manages most of the properties in the area</li>
<li>How often they inspect your property</li>
<li>Their mode and frequency of communication and feedback with you</li>
</ol>
Finally, whilst a high quality presentation is no guarantee of a high quality tenant, there is no doubt it gives you the best possible chance of achieving a higher rent, quicker and a higher quality tenant.
Staging your house will attract the tenant you want to be in your house. Your success as an investor depends on the type of tenant you have living on your property.
Naomi Findlay is the award winning founder of the <a href="https://www.instituteofhomestaging.com.au/" target="_blank">International Institute of Home Staging</a> (IIHS) and SILK Home Staging &amp; Styling. She is also the author of a bestselling book, Ignite Your Property Mojo.
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Staging your investment property for a great rental return on investment

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GUEST OBSERVATION
One of biggest issues to be addressed in last weekend’s WA Senate poll - and perhaps one of the most complex, too - was how best to maintain the state’s growth trajectory through the forthcoming period of transition.
Western Australia has undeniably seen the benefits from sustained economic growth over the course of the resources boom, with the state’s per capita gross income rising to around 50% above national levels in little over a decade.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/45584/width668/2z8jq8pc-1396569575.jpg" alt="">
Real per capita Gross State Income: WA and Australia, 1992 to 2013
However, the latest economic data does support the view that the WA economy has passed the peak of the construction phase of the commodities boom (characterised by growth in productive capacity, high employment and real wage growth). It is now moving to a production phase in which the state’s productive capacity is “put to work” in driving resource volume and export growth.
Early signs of this transition can be seen in reduced capital investment growth, lower participation and rising unemployment. WA’s unemployment rate has almost always been below the national rate, but there are signs that the unemployment and participation gaps are narrowing.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/45580/width668/pkb3vxgg-1396569393.jpg" alt="">
Unemployment and labour force participation: WA and Australia, 1991–2013
Relatedly, the changing workforce and skills requirements for WA require careful thought. Skilled migration, whether from interstate or from overseas, can only do so much to meet the changing demand for labour in the state. The shifting industrial composition also requires an education and training system flexible enough to retrain WA workers to match the needs of industry.
Housing policy was also an important battleground in this weekend’s elections.
Industry group affordability indicators published recently suggest that WA isn’t significantly out of line with other states and territories. However, most of these measures dwell on cost burdens for the “typical” family and house, disguising some big economic and social issues facing policymakers.
The Perth housing market has a real problem providing affordable rentals to low income families, or the right types of properties in the right locations. The housing sector points to high construction, regulation and approvals costs as the main impediment to the efficient supply of affordable housing. Whatever the cause, these issues are common topics of conversation for West Australians.
Australia raises proportionately more in direct taxation than the OECD average (around 60%, two thirds of which is personal income taxation) but significantly less from indirect taxes (mainly GST) - 13% against an OECD average of around 19%.
Federal Treasury secretary Martin Parkinson this week rehearsed the positive arguments for shifting the balance of income taxation and GST more towards the latter, but the context is not textbook. If you had to raise more revenue as a government to honour public spending commitments on NDIS, health and schools reform, support the ageing baby boomer population, and defend against falling terms of trade, which would you choose?
<blockquote>
Housing policy was also an important battleground in this weekend’s elections.
</blockquote>
The subtle increases in direct tax revenues through fiscal drag can stretch only so far, and more overt increases in company or personal income taxation face strong political headwinds. It does seem unnecessarily restrictive for the Federal government to deliver effective tax policy in more challenging economic times with its GST hand tied behind its back. However, consumption taxes may be more efficient, but they’re more regressive too.
WA households have experienced significant real incomes growth over the course of the resources boom, not just in absolute terms but relative to the national trend. But this growth hasn’t been distributed evenly, and the impact of an increase in GST tends to fall regressively on lower income earners who are less able to substitute away from consumption.
With the falling allocation of the GST wealth share to WA - down to 4.2% - placing more pressure on the state’s spending program, there is a need to ensure that economic policy responses don’t contribute to further increases in inequality beyond those already seen.
When it comes to GST shares, it’s hard to argue that WA gets out what it puts in. However, whether the GST return to WA is “fair” (or at least reasonable) depends on the position one takes on the redistributive philosophy underlying the allocation of GST shares across states and territories.
Alan Duncan is director of the Bankwest Curtin Economics Centre and Bankwest Research Chair in Economic Policy at Curtin University.<img src="https://counter.theconversation.edu.au/content/25135/count.gif" alt="The Conversation" width="1" height="1" style="line-height: 1.3em;">
The Bankwest Curtin Economics Centre is an independent economic and social research organisation located within Curtin Business School at Curtin University. The Centre was established in 2012 with support from Bankwest (a division of Commonwealth Bank of Australia) and Curtin University. The views in this article are those of the author and do not represent the views of Curtin University and/or Bankwest or any of their affiliates.
The views in this article are those of the author and do not represent the views of Curtin University and/or Bankwest or any of their affiliates.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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Enough talk: the economic policies that WA needs now

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Australia faces medium term challenges of paying for the things it wants to do as a society and finding enough workers as the population ages, Reserve Bank Governor Glenn Stevens says.
Stevens strongly backed Treasury Secretary Martin Parkinson who <a href="/expert-insights/finance/treasury-boss-hints-at-the-need-for-a-broader-gst">this week outlined</a> the huge calls on the budget over the coming years and urged a reweighing of the tax system to rely more on indirect taxes such as the GST.
Speaking in Brisbane, Stevens said it was becoming clear that programs were not fully funded by taxes over the medium term. “Our situation is not dire by the standards of other countries but neither are the issues trivial. A conversation needs to be had about this,” he said.
He described the Parkinson speech as “very important”.
Stevens said it was understandable that with announcements of job losses people focused on where future jobs would come from. But the problem was more likely to be not enough workers, rather than not enough jobs.
At present the number of new entrants to the workforce exceeded those retiring. 10 years from now, those numbers could be roughly equal, without a further rise in labour participation by older people.
“Demographic trends point in the direction of a smaller population working, and a larger proportion needing support in their later years, even as public demands on the finances for the provision of social goods increase.
“That looks like a pretty uncomfortable combination of trends.”
He said the answer to reconciling them was growth. To some extent we would hopefully be able to lessen the problem through higher labour participation, for longer. “But most of all we will need higher productivity of those working. That means making the system as flexible as possible and as encouraging as possible to innovation.”
For Australia one potential source of productivity improvement lay in the fact that across a range of sectors US productivity was much higher than our own. There were possibly substantial “catch up gains” to us by adopting better practices.
To those worried about projected job losses, Stevens pointed out that new jobs “will come from areas that we don’t see yet”.
“In the middle of 1991, at the low point of the last serious recession, people were very pessimistic about future employment prospects. The rate of unemployment was in double digits.
“But today, over 20 years later, there are nearly four million new jobs in the economy as there were then. The rate of unemployment, although it has gone up recently, is just slightly more than half what it was at its peak in the 1990s.
“It’s worth noting that none of those additional net jobs came from manufacturing,” Stevens said.
MICHELLE GRATTAN is professorial fellow at the <a href="https://www.canberra.edu.au/" target="_blank">University of Canberra</a>.<img src="https://counter.theconversation.edu.au/content/25216/count.gif" alt="The Conversation" width="1" height="1" style="line-height: 1.3em;">
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. 
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Finding workers and money our main worries: Glenn Stevens

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GUEST OBSERVATION
If you’ve been following the news this week, you would have seen all the commotion about the latest housing price data to hit the market. Speculation of a housing bubble reached new heights with RP Data’s March figures revealing the <a href="/expert-insights/investing/melbourne-tops-the-list-of-best-performing-capital-cities-in-march-quarter-rp-data-rismark">biggest monthly gain in 18 years</a>.
Melbourne led the surge, recording the strongest growth out of all the capital cities (5.4% for the first quarter of this year). As a buyer, it can be easy to get swept up in the media headlines. Naturally, concerns about housing affordability and whether buying now is a good idea come to the forefront. But before we hit the panic button, let’s take a closer look at what this really means for buyers.
Let’s put things in perspective
Just like any situation, it’s all about putting things into perspective.
Yes, March saw some significant gains – but let’s not forget the gains are off the back of a lull in 2011 and 2012 when we saw the first major correction to the market since the ’90s. 2013 was a year of consolidation, so the latest data actually represents a recovery or upswing from lower than normal levels of activity.
We need to tune out the white noise and fears of a property bubble and keep in mind that the long-term fundamentals of the market are still strong. Our population is booming (expected to reach 40 million by 2060), interest rates are at a record low and with the mining boom over, the construction industry is tipped to be the next economic driver – spurred by an undersupply of new housing nationwide.
Adjust your expectations
If you’re a first home buyer, this piece of advice will be most relevant for you as affordability is likely to be your biggest barrier. Remember that property is a cyclical asset and should be always viewed as a long term investment.
The first home you buy is not going to be the house you live in for the rest of your life. Buy in an area where you can afford to get your foot in the door. Once you’ve done this, you can put plans in place to reap a return on your investment and use it as a stepping stone for your next purchase. 
Buying where you can afford will allow you to pay down your debt and when you’re ready, sell that first home and use the tax free profit to buy your next home. If necessary, repeat this process until you are in a position to purchase the home that you want to live in for the next 20 years. 
The other option to consider is buying an investment property that’s likely to reap strong capital growth and renting in an area you want to live in, and using the rental income from your investment property to help pay down the mortgage.
The housing market is made up of several sub-markets
This is probably one of the most important things to remember about the housing market. To an extent, we need to take the March data for what it really is; a short-term growth spurt. Don’t get caught up in the media hype.
While the data is good for providing a pulse on the market as a whole, it doesn’t provide a more holistic perspective on the various sub-markets that exist within the entire real estate market.
Each suburb is unique and has its own laws of supply and demand at play. For example, there’s still a lot of opportunity to purchase affordable housing in suburbs within 8 kilometres from the capital cities, or areas that have not yet seen huge price spikes.
In Melbourne, there are suburbs such as <a href="/news">Footscray</a> where the median unit price is $385,000 (nearly $100,000 less than the statewide median of $481,000) and <a href="/news">Essendon</a> where a number of new housing developments are driving the area’s growth potential and offering first home buyers affordable homes. 
As a buyer, you need to ensure you do your research on the area you’re looking to buy in before taking the plunge – there’s a wealth of resources online such as RP Data and propertyDATA.com.au.
Speak to the experts
Finally, if you really are serious about getting into the property market and want to do it right from the get-go, then getting advice from the people who do it on a daily basis is a great start.
Property advisory firms are a great source of advice for the housing market - similar to a financial planner for the share market. Property advisors can talk through the nuances of the sub-markets and help you understand the micro and macro trends influencing house prices and their direction. They can also take the emotion out of buying and save the time you would have had to otherwise invest into researching your purchase.
Most of all, they can save you money by presenting the best valued properties - whether you’re an investor looking to enhance returns on your property portfolio or a first home buyer trying to get a foot on the property ladder.
Sophorn En is managing director of <a href="https://www.riveren.com.au/" target="_blank">Riveren Property</a>, a specialist investment group offering a broad range of property investment and advisory services to assist clients build their long-term wealth through astute property investment.
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House prices surge, but buyers don’t panic: There’s a light at the end of the tunnel

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Modern governments believe that during budget framing, it is politically savvy to parade the pain. We saw it with Labor and the Coalition is doing the same.
There are scary scenarios of what would happen without remediation, with warnings about problem areas. Some surprises will be held for the night, but other measures will be strategically “leaked” beforehand.
Tony Abbott, in Perth campaigning for the West Australian Senate election, let it be known he was chairing Wednesday’s meeting of cabinet’s expenditure review committee.
Shadow treasurer Chris Bowen declared it was the first time in Australian history a PM had chaired the ERC, claiming it showed dysfunction at the highest level.
This was nonsense. The government could quickly counter that Bob Hawke, John Howard and Kevin Rudd had also done so.
But it was surprising Abbott gave such a high profile to this “razor gang” meeting.
The ERC is all about nasties and, after all, Labor is making the prospect of deep budget cuts a centrepiece of its WA Senate campaigning. Abbott seemed to be providing ammunition. On the other hand, he could take the view Labor had the bullets anyway so he might as well play the longer game.
Treasury secretary Martin Parkinson publicly chimed into the pre- budget debate with a speech reinforcing the government’s lines about spending growth in the big areas.
But Parkinson also sent a public message to the government for later about what it should do on taxation.
With Hockey shining attention on health and pension costs, Parkinson documented the escalation.
Total Commonwealth spending on health is set to rise from $64.7 billion in nominal terms in 2013-14 to $74.6 billion in 2016-17, and to $116 billion in 2023-24.
The Commonwealth’s three main pension payments - for the aged, those on disability support and carers – will grow at an annual 6% in nominal terms over the forward estimates, adding $13 billion to annual payments by 2016-17, and another $39 billion by 2023-24. “Of this nearly $52 billion in additional payments in 2023-24, compared to 2013-14, over half is a result of indexation with the remainder due to increases in the number of recipients.”
That seems a fair hint that both drivers are being looked at. It should be remembered that successive governments have been trying to curtail the numbers on the disability pension but it has seemed a losing battle. It’s never as easy as it looks in theory.
Parkinson then turned to the tax side. His argument, aimed well beyond this budget and directed squarely at the political masters he will leave in December, is crystal clear. Australia needs a tax system it relies more on indirect tax, less on direct tax. The king of indirect taxes is, of course, the GST.
Parkinson pointed to one rather surprising fact, given the tax debates we’ve been through over many years. “Despite reforms that broaden the tax base (such as the GST), and decisions that have lowered corporate and personal tax rates across the decades, the share of direct and indirect taxes (as well as Australia’s reliance on income taxes) has changed little since the 1950s.”
Australia had relatively high reliance on direct taxes as a proportion of revenue raised compared with other OECD countries, he noted, before observing that: “Research consistently says that reduced reliance on income taxes and increased reliance on other, more efficient sources of revenue, including indirect taxes, can support higher growth and higher living standards by increasing workforce participation and lifting productivity.”
The problem is that “without conscious change, Australia’s tax mix will move in the opposite direction as personal income tax increases through fiscal drag”.
“We will move even further in this direction if, as we anticipate, the relative share of total indirect taxes (including GST) continues its long-term decline. Contributing to this decline is the non-indexation of fuel excise (unlike other excise rates) and a rising proportion of consumption outside the GST net, for example, in increased health expenditure.”
Parkinson warned that “continued increases in the personal income tax burden will hit lower and middle income earners with higher marginal and average tax rates. This will have adverse labour force participation impacts, while sharpening incentives for tax minimisation by higher income earners”.
The globalised economy meant Australia would be under pressure to cut the company tax rate.
“Given the pressure to return fiscal drag and to reduce the burden of corporate income tax, it will be a challenge to maintain the current levels of revenue over the medium term, let alone the increases required to achieve the budget projections.”
In the past, Parkinson said, tax reform had largely been pursued through broadening tax bases as an offset for lowering tax rates.
“However, a key challenge for the upcoming White Paper on Taxation will be to consider the mix of taxes, including whether there is a role for a greater contribution from indirect taxes.”
The opportunity were there to plot a path to a better tax system and the dangers clear if it was not done.
“If we do not start making these changes and simply keep drifting along we will be increasingly vulnerable to the next global crisis and will also lose out on the opportunities presented by the rising Asian middle class. The exceptionalism of this ‘lucky country’ will become just a distant, ironic memory and our children may really end up ‘doing it tough’”.
So there you have it. Parkinson, axed by the government (though extended until year’s end) won’t be around for the battles after the white paper, which has a long time table.
But he has signposted another lot of unpalatable truths. In terms of painful decisions ahead, this budget is only the start of it for the Abbott government, which hates the idea of tax increases, fears the politics of a robust debate about needing a higher, broader GST and has promised to take any major tax changes to the election.<img src="https://counter.theconversation.edu.au/content/25161/count.gif" alt="The Conversation" width="1" height="1" style="line-height: 1.3em;">
Michelle Grattan is professorial fellow at the <a href="https://www.canberra.edu.au/" target="_blank" style="line-height: 1.3em;">University of Canberra</a>.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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Treasury boss hints at the need for a broader GST

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Industrial sales across Perth reached a seven year high last year, buoyed mostly by strong interest from private investors. 
More than $800 million worth of assets changed hands from 203 properties in the 12 months to December - up on last year's $783 million and well ahead of the five year average of $620 million. 
The results were released in the Savills Key Australian Industrial Transactions Insight report which showed that only Perth and Sydney achieved a spike in transactional activity last year. 
Private investors were again the dominant buying force in Perth, accounting for 34% of the purchases. 
Based on Savills estimates, prime industrial yields as at 31 December ranged from 7.75% and 9% in the north and between 8% and 9.25% in the south. 
"The average yield for investment properties in the north in the quarter to December was 8.38%, a 25 basis point firming over the year. 
Prime industrial capital values were between $1,000 to $1,548 per square for buildings in the north, and between $811 to $1,375 per square for properties in the south. 
The report also shone a light on the shortage of larger sized industrial lots, especially in the core industrial precinct. 
"Some relief may come from larger scale developments in the areas such as Perth Airport and Jandakot Airport, and in less central locations such as Hazelmere, Forrestfield to the east and Neerabup to the north", it said. 
It expects leasing and sales enquiries to remain strong, especially for prime quality properties with warehouses, excess lay down areas and/or gantry cranes installed. 
Bullsbrook was beginning to emerge as a future industrial hotspot, it pointed out, particularly for large transportation firms. 
Savills said if the RBA were successful in stimulating growth in the non-resources side of the economy then "the industrial markets nationally should be the beneficiaries of stronger tenant demand."
"Signs of this were seen in the last six months of 2013 and Savills Research expects this trend to strengthen in 2014." 
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Perth industrial sales hits seven-year high: Savills

<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;

Jacob Robinson

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