<html><body>
<p dir="ltr">A Box Hill landbank between two planned apartment towers has sold for $8.25million, demonstrating the ongoing demand for development opportunities.</p>
<p>The sale of the 1,004sqm property at 13 Prospect Street reflects a strong land rate of $8,217 per sqm.</p>
<p>Savills Australia’s Nick Peden, Clinton Baxter and Jesse Radisich brokered the deal on behalf of a local private vendor, who first purchased the property several decades ago.</p>
<p>More than 65 interested parties reviewed the opportunity, with the eventual purchaser being a private Chinese developer, Peden said.</p>
<p>Box Hill was arguably “Melbourne’s most active and robust development location”, with unmatched interest from Chinese developers and the suburb’s Chinese community, the Savills team suggested.</p>
<p>Box Hill is anticipated to become Melbourne’s second high-rise CBD, they said.</p>
<p>The transaction marks Savills 12th major development site sale since the end of 2016 for more than $133million in the past 18 months, Peden said.</p>
<p dir="ltr"><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/14/13%20Prospect%20Street%20Box%20Hill.jpg" alt=""></span></p>
</body></html>

jchancellor-FAypfDUnLy

Chinese developer secures Box Hill development site for $8.25 million

<html><body>
<div>The days of the successful greedy vendor are almost done.</div>
<p>The five year surge in Sydney prices is now coming off, as the Reserve Bank wished.</p>
<p>The biggest gap I've seen between asking price and selling price was over 20 percent. They wanted $27 million and took $21 million in Sydney's pricey east.</p>
<p>Long after the ambitious public asking prices, the more sombre secret sales outcome becomes known.</p>
<p>Any neighbours up the street thinking of selling are then forced to come back in expectation. The new pricing mood becomes contagious.</p>
<p>There is nothing too distressing around pricing really for most sellers, although the emerging slowdown captures almost all, even thoughtful asking prices.</p>
<p>South Sydney Rabbitohs star George Burgess recently made a mild adjustment to the price hopes of his <a href="https://www.realestate.com.au/property-house-nsw-chifley-126771326" target="_blank">Chifley offering</a> (above and below).</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/chifley2.jpg" alt=""></p>
<p>Having initially sought $1.8 million, there's now guidance between $1,725,000 to $1,775,000, with Burgess and wife Joanne expecting a second child in August.</p>
<p>But first home buyers should pay extra careful attention to market conditions, not just the incentives on offer.</p>
<p>While the price declines may be minor, first home buyers ought be wary of over paying and potentially going straight into negative equity.</p>
<p>The weekend auction success rates that kicked off unexpectedly well with 70 percent selling, have weakened in the pre-Easter auction period with the clearance rate back in the 50s.</p>
<p>The market does seems set to continue to deteriorate further.</p>
<p>Most analysts tip the decline will be moderate, somewhere in the order of five to 10 percent over the next two or so years.</p>
<p>They don't see any trigger such as high unemployment that would escalate into more substantial price falls across all markets.</p>
<p>Certainly unexpected quick rate rises - rather than possibly a few extended over years - could be devastating for many households. </p>
<p>There are extreme calls such as the US forecaster Harry Dent who forecasts a halving in values.</p>
<p>But demand for property arising from population growth, arising both internally and from migration, is expected to provide a floor.</p>
<p>This article was first published in the Saturday Daily Telegraph.</p>
</body></html>

The Sydney property downturn starts with asking price mismatch

<html><body>
<p>An 1890s Elsternwick home, in 925 sqm of Rick Eckersley-designed gardens, has been sold.</p>
<p>Only recently updated with decor by interior designer Fiona Lynch, the <a href="https://www.realestate.com.au/property-house-vic-elsternwick-127653338" target="_blank">five bedroom Gladstone Street home</a> features soaring ornate ceilings</p>
<p>The 13 Gladstone Parade Elsternwick home sold under the hammer for $4.965 million.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/els2.jpg" alt=""></p>
<p>The residence drew offers from five bidders, selling for around $560,000 above reserve.</p>
<p>There's a refined home office, a lounge and formal dining room all with white marble fireplaces.</p>
<p>"The grand, historic bones of this magnificent Victorian home became our muse," Lynch noted.</p>
<p>The client was encouraging of her exploration of colour, so she took an evolutionary approach from room to room.</p>
<p>Soft, earthy clay in the lounge melds into rusty brown in the adjacent study; through to a dining room swathed in striking blue.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/els3.jpg" alt=""></p>
<p>Marshall White agent Sam Hobbs had a guide of $4 million to $4.4 million.</p>
<p>Last year the south-east Melbourne suburb saw three sales over the $4 million mark.</p>
<p>The classic Victorian home, Payneswick as its was known from the late 19th century, last traded at $3 million in 2014.</p>
<p>The earlier owners had Suzie Forge restored and extended it after it traded at $353,000 in the mid-1980s.</p>
<p>This article was first published in the Weekend Australian.</p>
</body></html>

Elsternwick trophy fetches half a million over reserve

<html><body>
<p>Cogoon Station, the south west Queensland grazing property, has been listed for sale.</p>
<p>It is the district from where the Prussian explorer and naturalist Ludwig Leichhardt set off from on his fateful expedition, never to be seen again.</p>
<p>Leichhardt's disappearance remains a mystery after he went missing in 1848 with his expedition crew of four Europeans, two Aboriginal guides, seven horses, 20 mules and 50 bullocks planning to cross Australia.</p>
<p>Cogoon, located in the Maranoa region around 60 kilometres south of Roma on the Darling Downs, then belonged to politician Allan Macpherson.</p>
<p>The near <a href="https://www.realestate.com.au/property-livestock-qld-roma-7952110%20" target="_blank">6000 hectare grazing property</a> is subdivided into 11 main grazing paddocks.</p>
<p>There's an as new three bedroom Glendale home on the estate, as well as an older homestead, 12 dams, cattle yards, machinery and hay sheds.</p>
<p>Ruralco Property GDL agent John Sims has set an April 20 auction. </p>
<p>Leichhardt's disappearance has been investigated by many, with the latest evidence suggesting the party may have gone missing somewhere in the Great Sandy Desert.</p>
<p>This article was first published in The Weekend Australian property section. </p>
<p> </p>
<p> </p>
<p class="r"> </p>
<p class="r"> </p>
<p> </p>
</body></html>

Historic Cogoon Station listed on Darling Downs

<html><body>
<p>Tech billionaire Mike Cannon-Brookes is whispered to have secured a very grand Southern Highlands country estate.</p>
<p>The Atlassian founder is tipped to emerge as the $5.35 million buyer of <a href="https://www.realestate.com.au/sold/property-acreage+semi-rural-nsw-kangaloon-127430818" target="_blank">Rosehill Farm, the 45 hectare property in Kangaloon.</a></p>
<p>Complete with Richard Rowe-designed homestead, Rosehill Farm features a designer country farmhouse, complete with interiors styled by Coco Republic. It sits in gardens by landscaped architect Michael Bligh.</p>
<p>The English style walled garden areas feature an orchard, veggie gardens, croquet lawns and outdoor alfresco spaces under wisteria covered pergola complete with fireplace and pizza oven.</p>
<p>The 2005-built Australian homestead with a wrap-around verandah, incorporated elements of New England architecture.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/rosehill2.jpg" alt=""></p>
<p>Spanning 540 sqm of internal living, the five bedrooms home has a gym, study, and a walk-in cool room for catering.</p>
<p>Completing the farm element is a stable complex, barn machinery shed, two horse stalls and a dressage arena. There's also a self-contained studio on the property.</p>
<p>The family already owns in the highlands, Joadja Creek Farm, a 390 hectare farm bought for $3.3 million in 2016. </p>
<p>Rosehill last sold in 2016.</p>
<p>Funds manager Will Liley and his UK born artist wife Janice sold to entreprenuer Rose Deo for $4.8 million through estate agent Deborah Cullen.</p>
<p>This article was first published in the Sunday Telegraph.</p>
<p> </p>
</body></html>

Rosehill Farm, Kangaloon sold by Rose Deo

<html><body><div title="Page 1">
<div>
<div>
<p>COLI Australia, the property development arm of China's China State Construction Engineering, sold 60 of 120 apartments at its first project in Australia, Neue by Coli in Macquarie Park on Saturday.</p>
<p>The 285-apartment project sits on a corner site next to Macquarie University. COLI started in 1979 with its first project in Hong Kong, and in 2016 on Neue, its first Australian project at Macquarie Park.</p>
<p>Neue by Coli comprises two residential towers with DA approval for 285 apartments designed by architects SJB.</p>
<p>Its architectural designs see 85 percent of the apartments being on a corner position.</p>
<p>There were also a number of first time property buyers as well as property investors, due to the close proximity to Macquarie University, shopping centre and the railway station, managing director of Coli Australia, Jason Huang said.</p>
<p>“I believe being part of the world's largest development company puts buyers at ease that Coli will deliver one of the best developments in Sydney.  </p>
<p>"We have already achieved this around the World in London, Hong Kong, China and New York".</p>
<p>Current buyers in the market need the confidence and assurance that any development they buy into has the capacity to deliver, the selling agents suggested.</p>
<p>COLI has had more than 500 residential and commercial projects in over 60 global gateway cities.</p>
</div>
</div>
</div></body></html>

Neue, Macquarie Park secures strong weekend OTP sales

<html><body>
<p>Macquarie, the oldest farm and oldest continuing residence west of the Great Divide, is set for an open day after its recent restoration.</p>
<p>The 1820s convict barracks and the homestead, built a few years later, have been restored and the formal rooms will be <a href="https://www.nationaltrust.org.au/event/macquarie-open-day/" target="_blank">open for viewing</a>.</p>
<p>A plaque will be unveiled by former Governor of New South Wales, Dame Marie Bashir, patron of the Macquarie Society this weekend. </p>
<p>Circumstantial evidence supports the assertion Macquarie is the oldest farm and oldest continuing residence west of the Great Divide.</p>
<p>It contains the original 1000 acre land grant to Lieutenant William Lawson by Governor Lachlan Macquarie as Lawson’s reward for his contribution in finding a way across the Blue Mountains.</p>
<p>Lawson was to become fond of Lachlan Macquarie, and in his honour renamed Discovery Farm as Macquarie, apparently in honour of a Vice-Regal visit during one of Macquarie's tours of inspection.</p>
<p>Macquarie, in it’s  200 years of European history, has only had two owners prior to the Hennessey’s, namely, the Lawson and McKibbin families.   </p>
<div>
<p>Macquarie remained in the Lawson family until 1918 when it was sold to the McKibbin family.</p>
<p>One of the McKibbin's was Tom McKibbin who lived at Macquarie with his wife, Edith. A colourful character, Tom in the 1890s was an Australian Test cricketer whose 1896 tour of England saw Tom's bowling action the subject of some controversy.</p>
</div>
<div>
<p>Paul and Bonny Hennessy became just the third owners of the property in 2012 when they bought it with a commitment to restore it to its former glory.</p>
</div>
<div>
<p>Since then they have employed more than 250 tradespeople and labourers.</p>
<p>Macquarie is situated 12 kilometres south east of Bathurst at 3397 O’Connell Road, The Lagoon around eight kilometres from the Great Western Highway.</p>
</div>
<p dir="ltr">For the past five years Paul and Bonny Hennessy have been working to save for posterity the most historic curtilage west of the Great Divide in particular, the early Colonial/Georgian homestead.</p>
<p dir="ltr">When they secured the property, the homestead was uninhabitable.</p>
<p dir="ltr">The two storey convict barracks were falling down.</p>
<p dir="ltr">It was the first farm over the mountains when 100 head of cattle moved on to the property in 1815.</p>
<p class="m_6842253918190024729x_MsoNormal"><em><span> <img src="https://www.urban.com.au/images/2018/3/16/MQ%202.JPG" alt=""></span></em></p>
</body></html>

Restoration of historic Macquarie farm at Bathurst

<html><body>
<p>A Fitzroy residential conversion that was once home the Victorian Movie Makers' Society fetched $3.7 million at weekend auction.</p>
<p>The <a href="https://www.realestate.com.au/property-house-vic-fitzroy-127659062" target="_blank">clean-edged 1950s building</a> - where 8mm amateur film sessions was all the rage - had been converted many years ago into a contemporary three bedroom home.</p>
<p>The Victorian Movie Makers signage is still etched on to the facade, despite the group selling the property for $571,000 in 2002.</p>
<p>Set near the Gertrude Street design precinct, there was a $3.5 million to $3.7 million price guide through Nelson Alexander Fitzroy agents Arch Staver and Luke Chisholm.</p>
<p>Centred around an open plan living room with soaring nine metre ceilings, the home features a master bedroom retreat with ensuite. The second living room flows to a landscaped alfresco entertaining terrace.</p>
<p>It last traded for $2.85 million in 2014.</p>
<p>The cheapest weekend sale across the country's capitals was nearby in Melbourne's Brunswick.</p>
<p>The one bedroom <a href="https://www.realestate.com.au/sold/property-unit-vic-brunswick-127594466" target="_blank">14/38 Canberra St, Brunswick</a> villa fetched $282,000. There had been $245,000 to $270,000 pre-auction price guidance.</p>
<p>It last sold at $20,000 in 1982, having sold at $24,000 in 1981.</p>
<p>The top Melbourne sale was $6.3 million in Malvern through RT Edgar.</p>
<p>The pre-auction guidance had been <a href="https://www.realestate.com.au/property-house-vic-malvern-127574522" target="_blank">$5.5 million to $6 million for 13 Wilks Avenue</a>.</p>
<p>The renovated 1930’s family residence sits on a 913 sqm block in the coveted Stonington Estate.</p>
<p>It last sold at $2.15 million in 2004.</p>
<p>Elsewhere in Melbourne Carlton recruit Aaron Mullett secured $1.011 million on Friday night (photo above) after three pre-auction offers for his Flemington home of three and a half years. </p>
<p>Mullett has shared the Princes Street<a href="https://www.realestate.com.au/sold/property-house-vic-flemington-127637514" target="_blank"> two-bedroom, one-bathroom home</a>, with his fiancee Elle.</p>
<p>The property, which sold in 2014 for $760,000, hit the market with a $890,000-$979,000 price guide through Alexkarbon Real Estate.</p>
<div>Mullett landscaped the back and front yards of the single storey red brick house which came with high ceilings, polished hardwood floors.</div>
<div> </div>
<div>
<div>Corelogic's preliminary auction clearance count indicated the success rates had soften as the number of auctions surged to the second busiest week so far this year.</div>
<div> </div>
<div>Click here <a href="https://www.propertyobserver.com.au/images/2018/3/19/clearance.jpg" target="_blank">to enlarge.</a>
</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/clearance.jpg" alt=""></div>
<div> </div>
<div>
<div>There were 3,097 homes taken to auction across the combined capital cities this week, showing a 67.5 per cent success rate.</div>
<div> </div>
<div>In comparison, 1,764 auctions were held last week and the final clearance rate came in at 63.3 per cent.</div>
<div> </div>
<div>Over the same week last year, auction volumes were lower with 2,916 homes going under the hammer across the combined capital cities, although the clearance rate was a stronger 74.1 per cent, CoreLogic auction analyst Kevin Brogan advised.</div>
<div> </div>
<div>"Looking at auction volumes, Perth was the only city to see a slight fall in the number of homes taken to auction this week, while all other cities increased," he noted.</div>
<div> </div>
<div>In Melbourne, a preliminary auction clearance rate of 68.9 per cent was recorded across 1,656 auctions, down from 70.8 per cent across just 453 auctions on the prior holiday weekend. </div>
<div> </div>
<div>Sydney was host to 1,055 auctions this week, with preliminary results showing a 67.8 per cent success rate, up from 62.2 per cent across 974 auctions last week.</div>
<div>
<p>"Buyers certainly feel like the tides have changed," Cooley Auctions' auctioneer Damien Cooley told the Australian Financial Review, adding he won't call it a buyers' markets unless clearance rates are less than 50 per cent.</p>
</div>
<div>This time last year, the clearance rate was a stronger 76.8 per cent across 1,001 auctions.</div>
<div> </div>
<div>Sydney's top house sale was $5 million on Kogarah Bay through McGrath Estate Agents (below).</div>
<div> </div>
<div>The five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-kogarah+bay-127686046" target="_blank">78 Carlton Crescent</a> came with boast shed on its 500 sqm holding which last sold four decades ago.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/kog1.jpg" alt=""></div>
<div> </div>
<div>Adelaide recorded the highest mainland preliminary clearance rate at 69.7 per cent.</div>
</div>
</div>
<div> </div>
<div>But Saturday's South Australian election prompted estate agent Charles Booth to delay the auction of a five-bedroom Prospect house until next Thursday night, sensing some people were delaying decisions until after the result.</div>
<div> </div>
<div>The <a href="https://www.realestate.com.au/property-house-sa-prospect-127678286" target="_blank">31 Alpha Road offering</a> was a 1926 Tudor style house on 2,100 square metres with a price guide between $2.9 million and $3.1 million.</div>
<div> </div>
<div>CoreLogic calculated the number of scheduled auctions in the SA capital on the weekend was 99, up from 94 last weekend but down from 115 the weekend prior.</div>
<div> </div>
<div>
<div>Canberra's top sale was <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/90-dominion-circuit-deakin-canberra/1317497374611" target="_blank">90 Dominion Circuit, Deakin</a> which fetched $3.75 million through Luton Properties.</div>
<div> </div>
<div>The five bedroom house last sold in 1996 at $725,000.</div>
<div> </div>
<div>Canberra's cheapest sale was <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/9-2-covington-crescent-charnwood-canberra/1317497168611" target="_blank">9/2 Covington Crescent, Charnwood</a> which fetched $322,000.</div>
<div> </div>
<div>The single level two bedroom courtyard home was marketed as "in need of attention."</div>
<div> </div>
<div>Brisbane's cheapest was $466,000 for a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-algester-127593562" target="_blank">15 Stonewood Street, Algester</a>.</div>
<div> </div>
<div>It last sold at $108,000 in 1999.</div>
<div> </div>
<div>The dearest Brisbane sale was <a href="https://www.realestate.com.au/property-house-qld-stretton-127680786" target="_blank">an acreage further south</a> at 115 Frizzell Street, Stretton.</div>
<div> </div>
<div>The three bedroom house sat on a 4047 sqm holding just 18 kms out of the CBD.</div>
<div> </div>
<div>Brisbane's auction clearance rate was 55.8 percent.</div>
</div>
<div class="wp-caption"><span><span> </span></span></div>
</body></html>

Carlton recruit Aaron Mullett secures $1.011 million after pre-auction offers for Flemington home

<html><body>
<p>Opera singer and society photographer Mark Bradley, who set up the corporate entertaining company Three Waiters, has listed the Thirroul acreage he shares with wife Monique.</p>
<p>The <a href="https://www.realestate.com.au/property-house-nsw-thirroul-127735178" target="_blank">seven hectare estate</a> features its own valley and forest not far from Thirroul Beach.</p>
<p>The Bradley's paid $1.45 million in 2004.</p>
<p>Set over three levels, the country style home has high ceilings, timber floors and expansive outdoor decking.</p>
<p>There's five bedrooms, two kitchens, a dedicated study and a bar in the third living areas.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/15/thirroul2.jpg" alt=""></p>
<p>A swimming pool and jacuzzi are accessed through French Doors off the open plan living and dining area.</p>
<p>Belle Property Wollongong agents Darren and Nicole Kay have a March 27 auction.</p>
<p>Nearly 20 years ago Bradley created The Three Waiters, a surprise singing waiters act.</p>
<p>Bradley, who has over 25 years of experience in the events industry, had attended over 2,500 events before coming up with the idea.</p>
<p>Bradley then asked opera singers David Haydon and singer and actor Darryl Lovegrove to join him to make up the original trio.</p>
<p>They have gone on to perform nearly 11,000 shows in 85 countries. </p>
<p>They have won 11 international event entertainment awards and is the only act to win 'Entertainer of the Year' twice at the USA Event Solution Awards.</p>
<p>Bradley has developed a number of high end acts including String Angels, Tenors Undercover, HypnoTWIST, Figaro and Voice of the King. </p>
<p><em>This article was first published in the</em> Sunday Telegraph.</p>
</body></html>

Thirroul estate listed by Three Waiters opera singer 

<html><body>
<p>After just 20 months ownership, the test cricket legend Shane Warne seems to have profited handsomely from flipping his Melbourne home.</p>
<p>It was the heritage Brighton trophy home he bought in August 2016 for $14.2 million and sold last month for a reputed $20 million.</p>
<p>The spin king's off market sale was flipping at its best.</p>
<p>Flipping is a popular term used to describe short term property trading.</p>
<p>Perhaps Warne didn't have the intent of reselling the property in a short time frame for a profit, but he certainly knew how to ride the capital growth curve.</p>
<p>Without any marketing photos it's not possible to confirm the before and after, but it doesn't appear he spent much adding value to the property second time around.</p>
<p>That was done when he owned Melville the first time, paying $3.6 million in 2000, then spending that amount again on a major renovation and extension, and selling the matrimonial home in 2007 for $8.8 million.</p>
<p>Property analysts, CoreLogic which now produce a flipping report, found flipping most prevalent in Sydney and Melbourne.</p>
<p>Across Sydney 6.8 per cent of all property re-sales over the past year were flips between one and two years of property ownership.</p>
<div>Regional Queensland (6.6 per cent) and Melbourne (6.4 per cent) also recorded a higher percentage of property sales as flips.</div>
<div> </div>
<div>Although values have been rising there had not been an accompanying substantial increase in flipping behaviour.</div>
<div> </div>
<div>Certainly not like the rise witnessed during the early 2000s housing boom.</div>
<div> </div>
<div>But when Sydney vendors do flip, they are in most instances flipping for a profit. </div>
<div> </div>
<div><span>In Sydney, only 5.7 per cent of flips within one to two years of purchase were at a loss, compared to 37 per cent a decade or so ago. </span></div>
<div> </div>
<div><span>At close to 95 percent, regional NSW last year recorded the highest percentage of flips at a profit within one to two years of purchase, followed by Sydney (94 percent) and Melbourne (93 percent).</span></div>
<div><span> </span></div>
<div>The national average was 89 percent.</div>
<div> </div>
<div>Interestingly it was the Illawarra region that experienced the highest level of flips in NSW - 8.7 per cent of resales - along with the highest annual increase in flipping - and Illawarra was among the most profitable regions in NSW, with only around two per cent of properties flipped at a loss.</div>
<div> </div>
<div><span>The NSW Southern Highlands and Shoalhaven regions also saw profits, actually recording no losses for flips less than a year, and just 0.9 per cent from one to two years.</span></div>
<div> </div>
<div>In order to make a profit, flippers need to recoup their transactional costs including stamp duty, conveyancing, the marketing and real estate agent commission.</div>
<div> </div>
<div>Vendors in Perth, Hobart, Darwin, and the regions of SA, WA, Tasmania and the NT were the most likely to flip their properties for a loss, given value growth has been sluggish for a number of years.</div>
<div> </div>
<div>This article was first published in the Saturday Daily Telegraph.</div>
<div>
<p> </p>
</div>
<div> </div>
</body></html>

New South Wales showing strong flipping figures

<p><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.</p>

<p>VIP buyers are now being engaged, with a full public sales launch coming later this year.</p>

<p>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;</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=371113]</p>

<p>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;</p>

<p>CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=150489 project_image_fid=371114]</p>

<p>“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;</p>

<p>The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;</p>

<p>Construction is scheduled to commence in September 2026.</p>

<p>[smartcode_project_cta:default project_id=150489]</p>


Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

<p>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.</p>

<p>Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.</p>

<p>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.</p>

<p>The appeal is relatively straightforward: flexibility.</p>

<p>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.</p>

<p>For apartment residents in particular, the system has become increasingly valuable.</p>

<p>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.</p>

<p>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.</p>

<p>That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.</p>

<p>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.</p>

<p>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.</p>

<p>Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.</p>

<p>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.</p>

<p>The timing of that expansion aligns with broader changes in Australian shopping behaviour.</p>

<p>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.</p>

<p>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.</p>

<p>Parcel Locker systems have increasingly been viewed as part of the long-term solution.</p>

<p>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.</p>

<p>Now, however, the convenience factor is driving mainstream usage.</p>

<p>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.</p>

<p>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.</p>

<p>The Parcel Locker model is also beginning to influence property development itself.</p>

<p>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.</p>

<p>For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.</p>

<p>That reflects a wider evolution in how residential buildings are designed.</p>

<p>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.</p>

<p>Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.</p>

<p>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.</p>

<p>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.</p>


How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

<p>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.</p>

<p>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;</p>

<p>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;</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=110291 project_image_fid=302785]</p>

<h2>Affordable product leads, premium demand remains resilient</h2>

<p>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;</p>

<p>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;</p>

<p>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.</p>

<p>Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.</p>

<p>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;</p>

<p>[smartcode_project:default project_id=148957 project_image_fid=364102]</p>

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

<p>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.</p>

<p>David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.</p>

<p>“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;</p>

<p>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.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=317905]</p>

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

<p>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;</p>

<p>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;</p>

<p>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”.</p>

<p>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;</p>


Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<p><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.</p>

<p>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.</p>

<p>Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.</p>

<p>“Brisbane was the right step for Sammut,” Sammut said.</p>

<p>“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.”</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>“We are DA approved now which is very exciting,” Sammut said.</p>

<p>“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.”</p>

<p><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" /></p>

<p>Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.</p>

<p>“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.</p>

<p>The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.</p>

<p>“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.”</p>

<p>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.</p>

<p>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.</p>


Sammut secures approval for debut Brisbane apartment development in Toowong

<p>Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.</p>

<p>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.</p>

<p>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.</p>

<p>“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.</p>

<p>“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.</p>

<p>“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.”</p>

<p>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.</p>

<p>“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.”</p>

<p>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.</p>

<p>“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.”</p>

<p>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.</p>

<p>“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.</p>

<p>Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.</p>

<p>“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.</p>

<p>“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”</p>

<p>The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.</p>

<p>“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.</p>

<p>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.</p>

<p>&nbsp;</p>


Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News