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The film director behind Mad Max and Babe, George Miller, has listed the historic art deco The Metro theatre in Sydney's Potts Point with $20 million plus hopes.
It has been his headquarters for more than three decades, but now redundant given his relocation to Fox Studios.
It was built in 1939 as <a href="https://www.propertyobserver.com.au/https://dictionaryofsydney.org/media/5557" target="_blank">The Minerva Theatre</a> opening with a production of Idiot's Delight. Sam Hood took photos.
Metro-Goldwyn-Mayer purchased the building in 1950 and converted to a movie theatre, renaming it the Metro Cinema with stars such as Elizabeth Taylor and Richard Burton attending premieres.
Then as a theatre it hosted performances including the 1970s musical Hair by Harry M. Miller.
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<div class="cq-article-content-media section">The 2300-square-metre property at 30 Orwell Street is on the market for the first time in 35 years, but has been available for lease.</div>
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<div class="cq-article-content-media section">Miller had struggled with maximising its usage and potential in recent years, with various concepts floated but not implemented.</div>
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<div class="cq-article-content-media section">He was seeking $25 million plus at one stage for its sale.</div>
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<div class="cq-article-content-media section">It is likely to appeal to owner-occupiers, boutique hotel operators, and specialised developers with heritage expertise, Fairfax Media reported.</div>
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George Miller lists Art Deco Metro theatre in Potts Point

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The Benalla district farm of the late cattle industry leader Mike Burston sold at auction last week for $4.95 million to the award winning Wagyu beef producer, David Blackmore.
The property, East Mt Ada spans 610 hectares in the heart of Victoria's Broken River Valley.
Its Ruralco Property Hume agents Luke Marple and Brett Neilson had been expecting around $4.75 million.
Burston received an OAM last year for his services to the industry, having been on the Cattle Council of Australia for seven years.
His East Mount Ada was home to the Yallambee Poll Hereford Stud until its dispersal.
It had been farmed by Burston for about five decades after he moved from the southern Riverina.
Its carrying capacity was put as 6000 dry sheep equivalents (DSE) or 375 cow and calf units range.
Blackmore, whose beef is exported to around 20 countries, had been seeking farmland after abandoning a zoning and land use battle with the Murrindindi Shire Council at his 150-hectare Alexandra farm north of Melbourne.
This article was first published in The Weekend Australian.
 
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Wagyu beef producer David Blackmore buys Benalla district farm 

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Property, just like any other investment class, follows cycles where prices can rise, fall or plateau.
Sydney got a rare taste of a dip in September, according to CoreLogic, when it joined Darwin with values falling.
It was no great surprise, and not by much though.
After getting 80 percent percent higher over an extended five year upswing, Sydney dwelling values slipped 0.1 percent lower over the month to a $909,000 median, it’s first month-on-month decline in 17 months.
Ofcourse the headline figure is accompanied by increasing resale activity at lower prices.
The most recent CoreLogic pain gain report noted 2.6 percent of Sydney houses and 1.8 percent of units had been resold recently at a price lower than their purchase price.
This is a very low volume of resales making a loss as the national figure sits for houses at 8.1 percent and 13.3 percent for units.
Many Sydney council areas recorded no loss over the March quarter including Waverley, Ashfield, Burwood, Hunters Hill and Kogarah.
The council areas with the highest proportion of resales at a loss were Wollondilly (5.9%), Hurstville (5.7%) and Hawkesbury (4.8%).
The ups and downs in pricing can be typically explained through the classic economic theory of supply and demand and exuberance.
The rising volume of new stock on the Sydney market - both auction and private treaty - is likely to place further pressure on the market during spring, as volumes are sitting some 15 per cent higher than last October.
The Sydney property market is more likely to experience an extended plateau rather than any doomsday crash scenario due to the relatively low unemployment rate and heightened population growth.
CoreLogic's head of research Tim Lawless says that prices in Sydney will probably trend lower into 2018, although continued strong demand for housing, along with the likelihood that interest rates will remain low, will help to support a floor under housing prices.
I'd suggest much depends on Sydney investors who appear to have momentarily called time out in part because they are now paying higher interest rates after restrictive lending practices by banks.
The investors' response is an understandable reaction to policy initiatives by APRA, the financial regulator, for market cooling.
Residential investor activity has declined sharply in NSW as the latest data from the ABS reported that approved residential investor loans for buyers totalled $5.7 billion over July which was down 22 percent on June.
Sales data indicates that NSW investors were slightly more likely to incur a loss on the resale of their property than owner occupiers. Over the March quarter, 1.9 percent of investors resold their home at a loss compared to 1.8 percent of owner occupiers. 
Buying when everyone wants to sell increases the chance of quickly profiting from property, not that we've seen much flipping intent among buyers as the typical hold period has been six years. 
The time held is important, especially to sit out selling during downturns.
Sensing and tracking the price cycles can pay dividends for savvy home buyers and investors, as there are times when property purchasing can result in a wonderful early gain.
This article was first published in the Saturday Daily Telegraph.
 
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Sydney dips in current property cycle

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The Agency has expanded its national operation into Queensland with veteran local agent John Natoli holding a key role in the brand’s soon-to-be-opened Broadbeach, Gold Coast office.
John Natoli is a highly awarded agent, including the REIQ’s Gold Coast Salesperson of the Year from the mid-1990s.
<a href="https://propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/76198-shark-loving-estate-agent-john-natoli-calls-time-at-mcgrath-surfers-paradise" target="_blank">The local paper</a> had recently advised that the veteran Surfers Paradise agent John Natoli had told clients on his departure from McGrath that he intended to pursue his passion for underwater photography. He didn't rule out a return to property sales.
His clients include the founders of Smorgon Steel, the Smorgon family and motorcycle legend Mick Doohan. “John Natoli brings a wealth of knowledge to The Agency’s Gold Coast operation, he is the foremost authority on the Gold Coast’s prestige market,” says Matt Lahood, CEO The Agency. John Natoli has previously worked closely at McGrath with The Agency’s CEO Matt Lahood and its now the director of sales/chief auctioneer Thomas McGlynn and The Agency’s James Ledgerwood.
"The re-unification of this record-breaking team is incredibly exciting for The Agency," Matt Lahood said.
John Natoli will be joining agents Paul and Charmaine Ledgerwood and The Agency’s Projects team in the Broadbeach office, located in the The Wave building. “I’m very excited about embarking on the same process that we began seven years ago launching McGrath," Natoli said.
"But this time, we benefit from all the learnings and will streamline the process. It was an amazing period of growth and I look forward to this new opportunity with The Agency,” explains John Natoli.
“Watching The Agency in the market, I have been impressed and like what I see – the growth, the ethos and the new way The Agency is doing business.”
Along with sales, John Natoli will be focusing on the mentoring and training of the next generation of agents joining the The Agency team, a challenge John highly anticipates, “I am now in a position where I can share my experience and knowledge with others, another exciting step!”.  With a high proportion of properties on the Gold Coast sold to Melbourne and Sydney-based purchasers, The Agency’s national referral network will assist Natoli.
The McGrath agency pointed out to The Australian that it has over 2300 people in its network with 936 in its sales team.
“All businesses see movement within management and staff and the real estate sector is no different," a spokeswoman said.
“In recent times, McGrath has been fortunate to not only attract key management to positions within the company, but has also seen many return to us, which is reflective of our culture.”
 
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John Natoli joins The Agency on the Gold Coast

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Sydney estate agents will be seeking out buyers who'll be here from China this week on potential fly'n'buy visits.
The National Day Golden Week is China's big holiday when 760 million Chinese workers are able to take a week off every October.
For China’s rich and wealthy, the Golden Week provides the perfect time to head overseas for holidays, shopping, university visits along with the pursuit of property.
The Chinese strongly believe in generational investments, and property is deemed a safe and lasting asset to pass down for generations, especially if it’s with freehold ownership rights like Australia.
Ctrip, the online travel portal, is predicting more than six million Chinese travellers to head overseas during the break which runs through to October 8.
Australia sits fifth most popular destination for these Chinese holidayers behind Thailand, Japan, the US and Singapore.
New air routes help our popularity, the property website Juwai suggested, combined with easier and cheaper visas for outbound Chinese travellers to achieve their travel dreams.
Chinese incomes have seen sustained growth in recent times with an estimated 135 million travellers through this year.
Sun, sea, sand, blue skies, stunning natural environment and wildlife – think whale-watching, swimming with dolphins, and hugging koalas – are some of the draw cards behind the steady growth in tourist arrivals.
The number of Chinese visitors to Australia has hit around 1.4 million annually, so although we only receive a very small percentage of all Chinese visitors, the numbers are sufficient to have more than a ripple effect on the property market.
Some October's more than others.
Golden Week 2015 saw a Maroubra home sold for $10.5 million to a Chinese couple, who flew in to seal the deal. There was a $39 million Point Piper sale in 2014.
Golden Week holidays are important but less than they were in the past, suggests Carrie Law, the CEO of Juwai.com.
High prices in China often make our cities a better value proposition. 
These Chinese buyers are faced with their own domestic restrictions limiting buyer’s opportunities, so many mainland property buyers will be looking overseas for investment opportunities, although there are restrictions on getting their money out too.
This didn't stop Chinese real estate investors spend a record $101 billion last year globally on both residential and commercial properties – up 845 percent over the past five years, and a 25 percent up on 2015.
The US is considered top spot by most property investors from China, which explains the $50 billion spent by Chinese buyers on American real estate.
Australia comes in at second, followed by Hong Kong, Canada, and the UK, Juwai recently noted. 
Face matters in China, in a society ever conscious of reputation and hierarchy. There is no better way to do that than buy a home to show off their wealth and investment acumen to family and friends, and owning international property gains even further prestige.
These potential Chinese buyers have been looking online for options ahead of their travels next week.
China’s next Golden Week opportunity is happening next February, which is during Chinese New Year celebrations for the year of the dog.
 
 
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Agents seeking out buyers for Chinese Golden Week 

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The RBA cash rate decision came out at 2.30pm today - and rates were held again.
The bank's last move saw it go to 1.5 percent at the August 2016 meeting, so rates have been held steady for 14 meetings.
It is not the longest run of steady rates as there were 16 meetings (inclusive) between their August 2013 meeting and December 2014 where they held at 2.5 percent. There was another run of 16 meetings between July 2002 and October 2003 where rates were held at 4.75 percent.
The board noted easing Sydney house prices.
The board noted growth in housing debt has been outpacing the slow growth in household incomes for some time.
"To address the medium-term risks associated with high and rising household indebtedness, APRA has introduced a number of supervisory measures.
"Following some tightening in credit conditions, growth in borrowing by investors has slowed a little recently," the board noted.
In the housing market, conditions continue to vary considerably around the country.
Housing prices have been rising briskly in some markets, while in others they have been declining.
In Sydney, where prices have increased significantly, there have been further signs that conditions are easing.
In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years.
Rent increases remain low in most cities.
 
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Sydney housing price easing noted as RBA holds at September 2017 meeting

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The Brookfield Maze, in Central Victoria, has been listed for sale.
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<div>Avid gardener Eryl Neil and husband Jeffrey began building the maze, in 2010 on the 2.3 hectare parcel.</div>
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<div>The four-bedroom homestead at <a href="https://www.realestate.com.au/property-lifestyle-vic-myrrhee-7921606" target="_blank">1121 Benalla-Whitfield Road</a>, comes with 60-seat cafe and two bedroom guest house comes.</div>
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<div>The property is listed through Garry Nash &amp; Co agent Garry Nash.</div>
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<div>He is asking for $1 million plus.</div>
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<div>Since Eryl and Jeffrey opened the maze, which was designed to be somewhat of a challenge, in 2014 some 14,000 customers tackled the challenge.</div>
<div>It takes on average between 20 and 30 minutes to complete.</div>
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Brookfield Maze in central Victoria listed with $1 million hopes

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ANZ has acquired the realAs website which exposes under-quoting among estate agents.
ANZ advised its purchase was to help home buyers access better information about the Australian property market.
RealAs was incubated in 2011 with an algorithm to predict property prices ahead of auction by the Melbourne buyer’s advocate David Morell, who claimed underquoting was “endemic."
"It’s grubby, it’s misleading and deceptive and it’s a fraud on purchasers," he said at the time.
RealAs says not all agents under­quote, but its chief executive since its 2014 launch, Josh Rowe said realAs aimed to "restore honesty" to pricing with its estimates.
The Collin Street based boss, who has been involved in the recent .au Domain Administration fracas, has long-viewed Victoria as "the underquoting capital of Australia."
In one expose he noted the hockingstuart Richmond agency was inaccurately quoting properties by 22 percent on average, ie a $1,000,000 agent quoted house would typically sell for $1,228,000, with Rowe subsequently advising the agency property price guidance had improved to 11 percent on average.
The website claims to have predicted prices within 5 percent of the eventual sale price over the 12 month period beginning September 2016 to August 17.
It recently advised the Sydney suburb of Eastwood topped the list for misquoting of property prices with underquoting being a way estate agents ­attracted bidders to an auction who assumed the price is within reach.
Melbourne’s Tullamarine was a close second.
Balwyn North ranked as the top suburb for accurate property price quoting in Melbourne and it was Blacktown in Sydney.
The REALas price prediction is calculated using the algorithm developed with RMIT University along with buyer feedback.
REALas.com will continue to operate independently as a wholly-owned subsidiary of ANZ.
The business was founded by David Morrell, who started the first buyers’ advocacy in Australia. He said the power was significantly stacked in the selling agent’s court and wanted to give buyers the ability to pay a fair price for their homes.
Morrell co-founded it with then Hawthorn Football Club president Andrew Newbold and former DDB creative director Jeremy Press.
It quickly upset agents and in 2015 Stockdale &amp; Leggo, a large Melbourne-based group of agencies, accused the property start-up of defamation.
The agency threatened legal action with lawyer John Gdanski, saying a televised report “had serious, reputational, commercial and legal repercussions for our client”.
“For the record, our client does not engage in the practice of underquoting property prices. Our client vehemently rejects this allegation,” it says.
RealAs chief executive Josh Rowe reportedly shrugged off the legal threat, saying it was baseless and symptomatic of an industry that was unaccustomed to scrutiny.
He noted he had not mentioned the firm in comments made for the report.
“Through our lawyers, we have rejected Stockdale &amp; Leggo’s allegations that we conveyed false, misleading and defamatory imputations about them,’’ he said.
“Stockdale &amp; Leggo’s attempt to mute a new voice for home-buyers will only reduce the trust home-buyers place in real estate agents.”
The site has 2900 followers on twitter, 4500 followers on Facebook and 150 followers on Instagram.
Commenting on the acquisition, ANZ Managing Director Customer Experience and Digital Channels, Peter Dalton said it was an important acquisition for ANZ's digital transformation.
"We know customers are increasingly turning to online resources for help as they navigate the Australian property market.
“It’s also a great success story of an Australian start-up, so we’re really pleased to be working with them and looking at how we might incorporate some of their features into ANZ’s products and services in the future.”
RealAs CEO Josh Rowe said he was thrilled that ANZ has recognised the value in what was built over the past six years.
Rowe said the deal had been in the works for a year as in mid-2016 they were looking for further investment from investors outside of the original group.
In 2014 when realAs won the Westpac Innovation Challenge it advised the site was getting about 10,000 unique monthly visitors, with half downloading the app.
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ANZ buys real estate honesty agitator, realAs

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The mooted departure of McGrath agent Bethwyn Richards to The Agency is expected to be formally announced today.
Specialising in Sydney’s beachside suburbs from Bondi to Coogee, Bethwyn Richards, who has a who's who client list, had some loose ends to tidy up which meant her much delayed exist.
She takes with her a client book built up over the decades that includes Deb Hutton, Anthony Bell, Peter Overton and Jessica Rowe, Mark Carnegie, cricketers Shane Watson and David Warner and the former Swans coach, Paul Roos.
One of her recent sales was when the Footy Show's Erin Molan bought.
One of her most celebrated sales was the Bronte home of the late Heath Ledger. She sold the Bayview Street home overlooking the beach for $7 million after it traded for $4.45 million just two years before.
With the backing of mortgage broker John Kolenda, and Ausnet Financial Services, she joins other veteran McGrath agents who've launch as The Agency including Matt Lahood and Ben Collier.
The McGrath rebels teamed together last month selling their combined near 15 per cent stake for 65¢ a share to institutional investors.
Beth­wyn Richards joined the sell-off.
The group, which was headed by the former chief operating officer Geoff Lucas who had a 4.3 per cent stake, had hoped their block trade would attract a premium offering, but instead settled for deal struck at a discount below the 73 cent closing price.
The sale was less than one-third of the $2.10 a share the company was floated at in December 2015. Stock worth $42.8 million at the time of the float changed hands at $13.2 million.
The block was held by well-known agents including Ben Collier, Shad Hassen, Matt Lahood and Brad Gillespie, former McGrath agents who now work for The Agency.
The escrow condition had prevented the former McGrath insiders from offloading their shares since it listed in December 2015 at $2.10 a share.
This article was first published in the Sunday Telegraph.
 
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Real estate agent industry turmoil continues

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GUEST OBSERVER
Slowly and calmly the RBA appears to be setting the scene for the possibility of cash rate rises.
There is clearly no urgency, but the central bank will want to keep its options open. Keep in mind, unlike many other central banks, the RBA does not give explicit forward guidance (that is, it does not indicate cash rate movements ahead of time). Instead, the commentary will just gradually shift to greater optimism about growth and inflation before the first hike is delivered.
Two speeches by RBA officials this month both suggested a mild shift in tone. Assistant Governor, Luci Ellis, gave a speech making it clear that global growth is picking up and that the recovery was expected to persist.
A day later, Governor Phil Lowe, gave a speech entitled, ‘The Next Chapter’, in which he explained that the mining cycle, which has dominated the local growth story in recent years, is almost done. Although Dr. Lowe was cautious, he was generally positive about the outlook, with Australia set to benefit from rising Asian middle class incomes.
At the same time, the timely local growth indicators remain strong. Surveyed business conditions are around decade highs and job creation has accelerated to its fastest pace since 2000 over the past six months. The fast pace of job creation is expected to continue, given the marked improvement in job advertisements, job vacancies, and surveyed employment intentions.
Exports are also set to be strong in H2, partly reflecting a bounce-back in coal shipments after weather-related disruptions in H1. In addition, infrastructure investment is ramping up. We are sticking by our call that GDP growth will pick-up to 3.3% y-o-y by the Q3 print, which is due in early December.
The challenge remains as to whether this lift in growth and employment will deliver a pick-up in wages growth and inflation. The next CPI print, which is due to be published on 25 October, will be the next key number on this front. We expect the RBA to be firmly on hold next week as it awaits the next inflation print.
On fixed income strategy, the risk that the RBA hikes sooner argues for elevated money market risk premium but curves should flatten, especially beyond 10 years. 
Rising activity and strong jobs growth 
Growth is picking up pace, driven by a collection of factors. First, the sharp decline in mining investment is coming to its end: less drag from this source is net positive for growth. Second, growth in services exports remains solid, LNG exports are ramping up, as new capacity comes on-line and coal exports are bouncing back after weather-related disruptions in H1.
Third, infrastructure investment is ramping up, led by urban road and rail projects, mainly in the south- eastern states. Finally, corporate profitability has improved, partly due to higher commodity prices, which is supporting a lift in surveyed business investment intentions.
The pick-up in growth is being reflected in strong surveyed business conditions, which have been around decade-highs in recent months (Chart 1). The lift in growth is also driving a strong pick-up in hiring, with job creation running at its fastest pace in 17 years over the past six months. Most of the jobs that have been created have also been full-time positions (Chart 2).
<a href="https://www.propertyobserver.com.au/images/2017/09/29/Screen%20Shot%202017-09-29%20at%2011.03.44%20AM.png" target="_blank">Click to enlarge</a>
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The timely indicators, such as job advertisements and employment intentions, suggest jobs growth should continue in the coming months.
Wages growth is subdued, but for how long?
The challenge has been that, as yet, the improvement in the labour market has not driven a rise in wages growth (Chart 3). However, the wage price index has started to stabilise. Part of the explanation for weak wages growth may be factors that are also affecting other economies, such as: the changing nature of work due to technology; the continued effect of globalisation and offshoring; increased casualization of the workforce, and decreased unionisation (for more on these factors see Global Economics Quarterly: The Wage Conundrum, 22 June 2017). Much like in other countries, Australia’s Phillips curve – which suggests an inverse relationship between wages and unemployment – appears to have flattened (Chart 4).
<a href="https://www.propertyobserver.com.au/images/2017/09/29/Screen%20Shot%202017-09-29%20at%2011.04.52%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/29/Screen%20Shot%202017-09-29%20at%2011.04.52%20AM.png" alt="">
However, in Australia’s case there may also be some idiosyncratic factors at play. In particular, the large fall in commodity prices from 2011 to 2016 weighed on national incomes, which, in turn, flowed through to weak growth in unit labour costs (Chart 5). If this explains even some part of the slowdown in wages growth then the recent lift in commodity prices and boost to mining sector profitability should flow through to some lift in wages growth. The rise in profitability has also moved beyond the mining industry, which should also imply a pick-up in wages growth over time (see Downunder Digest; Show me the money, 20 April 2017).
<a href="https://www.propertyobserver.com.au/images/2017/09/29/Screen%20Shot%202017-09-29%20at%2011.08.07%20AM.png" target="_blank">Click to enlarge</a>
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Next focus will be on the quarterly CPI print, as always
As is often the case, the October board meeting is expected to be rather dull, as it is only three weeks until we receive the all-important quarterly CPI print. The RBA is likely to flag that it is awaiting more information of prices to help firm up its view on how the economy is travelling.
The key will be the underlying measures of inflation – the trimmed mean and weighted median. These have already been showing a modest lift from the very low levels reached in mid-2016, when the RBA was forced to cut the cash rate to its current record low (Charts 7 and 8). Even a repeat of a modest print for the trimmed mean, of 0.5% q-o-q, would see underlying inflation back in the RBA’s 2-3% target band on a y-o-y basis. 
<a href="https://www.propertyobserver.com.au/images/2017/09/29/Screen%20Shot%202017-09-29%20at%2011.09.31%20AM.png" target="_blank">Click to enlarge</a>
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RBA speeches and commentary 
As we reported last month, Governor Phil Lowe explicitly stated at a parliamentary testimony in August that it would be reasonable to assume that the ‘next rate move will be up rather than down’. This month brought another mild shift in tone from the RBA. Assistant Governor Luci Ellis gave a speech making it clear that the RBA expects the current recovery in global growth to continue. Governor Lowe then gave a speech suggest that Australia’s growth story is moving on to its ‘next chapter’, most of which was upbeat about Australia’s growth prospects while still acknowledging risks, such as Australia’s high household debt levels.
Governor Lowe has also been cautious about giving any indications on timing of any cash rate rise. He has noted repeatedly that it will be ‘some time’ before rates rise. We see this as typical RBA style. The RBA does not give explicit forward guidance. Instead it shifts the tone of its discussion about the outlook for growth and inflation and leaves it to the market to determine what it might mean for the cash rate setting.
Fixed income strategy: Earlier hikes equal flatter curves
We hold on to our flattening bias. Recent upbeat communication from the RBA implies a bold reaction function. As a result, and assuming the data holds up as our economists expect, investors should consider February and May meetings as ‘live’ (currently just 6bp and 16bp of cumulative hikes priced, respectively). The sticky pricing of a risk premium into the money market should keep 3yr government bond yields elevated with the potential to re-test the top of the 1.92-2.22% Q3 range (Chart 9).
<a href="https://www.propertyobserver.com.au/images/2017/09/29/Screen%20Shot%202017-09-29%20at%2011.11.17%20AM.png" target="_blank">Click to enlarge</a>
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Yet, we are less concerned about a breakout at the long-end. In our view, 10yr yields close to the recent high of c.2.9% present a bullish signal given that level is consistent with 5yr5yr peaking around 3.5%, equal to neutral rate estimates. Also, the historic tendency for the curve to flatten sharply as the RBA hikes should be expected to repeat, especially given the rise in household’s leverage (see Little to fear for the long-end, 30 August). The potential for the curve to flatten is greatest beyond 10 years, where supply is supportive and the curve is steep, particularly vs. those markets that have already hiked rates (Chart 10). 
<a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">PAUL BLOXHAM</a> IS CHIEF ECONOMIST (AUSTRALIA AND NEW ZEALAND) FOR HSBC.
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RBA on hold this month, waiting for Q3 CPI: Paul Bloxham

<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;

Jonathan Chancellor

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