<html><body>
<p>The veteran pub family patriarch Arthur Laundy has bought the The Bells Hotel in Woolloomooloo, swooping pre-auction as an acquisitive battle continues between rival Sydney publicans across Sydney.</p>
<p>The price guidance had been around $15 million, highlighting the frothiness in hotel prices over recent years.</p>
<p>The historic 1920s pub was sold before Thursday's scheduled auction to the Laundy family which now owns almost 30 hotels across NSW, including venues such as the Watsons Bay Hotel, the Woolwich Pier near Hunters Hill and the Quarryman's Hotel in Pyrmont.</p>
<p>Laundy recently expressed concern about "silly prices", signalling he'd be steering clear of what he called a "crazy market", but The Bells was irresistible.</p>
<p>Rival hotelier Justin Hemmes had been pinpointed as also having an likely interest in buying the pub.</p>
<p>The Laundy family net worth is put at $500 million while Hemmes' is estimated to preside over a $950 million hospitality and liquor empire.</p>
<p>The 77 year old Laundy is credited as heading the biggest independent hotel operator in New South Wales, which includes the neighbouring Woolloomooloo Bay Hotel which cost $20 million two years ago.</p>
<p>It was the Miles family who called time at The Bells after initially securing the leasehold in 1976.</p>
<p>The family bought Tooth out in 1990.</p>
<p>The pub at 1 Bourke Street was known for legendary matriarch Lil Miles, who worked behind the bar until age 96.</p>
<p>Erin Petersen, from the Miles family, said there had been a number of pre-auction offers.</p>
<p>“The family has loved the 45 years at Bells and while it is the end of an era for us we are happy to sell to Arthur, a long time local publican, who we are sure will only be an asset to further develop the potential of our much-loved pub” said Petersen.</p>
<p>The sale was secured by Andrew Jolliffe who has sold more than $1.75 billion of pubs in the past six years including the Centennial in Woollahra on behalf of the Medich family to Merivale's Justin Hemmes.</p>
<p>The Laundy family company, which has been in pubs since the 1940s, includes scions Stuart, the socialite publican who briefly won Sophie Monk's heart on <em>The Bachelorette</em>, and the politician Craig, who has been the Liberal member of Reid since 2013.</p>
<p>Arthur Laundy typically fronts up every day at the Laundy headquarters in the Twin Willows Hotel, built in 1963 by his late father at Bass Hill in Sydney's south-west after the land cost 38,000 pounds. </p>
<p>The family pub business had began when Arthur's parents Arthur Sr and Veronica took on the Sackville Hotel at Rozelle in 1945.</p>
<p>It was in 1969 when young Arthur and wife-to-be Margaret took the reins of the family business, which was then just two hotels including the Twin Willows.</p>
<p>Jolliffe noted that interest in the Bells, a prominently positioned asset, was drawn from a wide spectrum of well-known hospitality operatives and commercial property specialists.</p>
<p>There have been four other hotel properties in the past few weeks, Jolliffe noted.</p>
<p>Sydney's biggest publicans include the Waugh family, the Ryan family, Peter Calligeros, the De Angelis family, the Arnout brothers, and Pat and Angela Gallgaher.</p>
<p>Hemmes and his family have ownership of 70 hotels, restaurants and venues around Sydney.</p>
<p>The sale comes on the eve of hotel giant Redcape’s billion-dollar stock market listing later this month.</p>
<p>The Bells Hotel, located adjacent to the Woolloomooloo Finger Wharf, features a main bar, bistro, courtyard, accommodation spanning the entire first level, and eight electronic gaming machines.</p>
<p>There had been a pub on the 340 square metre Bourke Street corner address since the 1860s.</p>
<p>The original ale house was called Punches servicing the workers of the wharves.</p>
<p>The Miles family lost a family member at the hotel in 2004 when Shane Miles, died from massive head injuries after being hit in the head with a bar stool during a wild brawl at his family's pub.</p>
<p><em>This article first appeared in </em>The Daily Telegraph.</p>
<p> </p>
</body></html>

jchancellor-FAypfDUnLy

Pub patriarch Arthur Laundy purchases The Bells Hotel in Woolloomooloo

<html><body>
<p>A syndicate of five former students from St Joseph's, Hunters Hill has bought the Lady Hampshire Hotel at Camperdown.</p>
<p><span>The buyers are cellar master, Greg Parker, Chris Traill, former chief concierge of Sydney’s Park Hyatt, Matthew Comensoli, Andrew Rigney and David Vaughan.</span></p>
<p><span>They were at the school in the early to mid 1990s.</span></p>
<p><span><span>“From boarding school to the boardroom this group of mates has enjoyed consistent results, with the Lady Hampshire the next chapter to be written in this success story," Parker told the pub website, </span></span>pubtic.com.au.</p>
<p>The Parramatta Road hotel was sold by hotelier Paddy Coughlan.</p>
<p>Coughlan intends concentrating on his new beverage enterprise, Frank Strongs.</p>
<p>Coughlan retains the Lord Gladstone and Botany View Hotel.</p>
<p><span>Camperdown’s Hampshire Hotel was reopened in 2016 by Coughlan’s Bourke St group, then rebranded the Lady Hampshire to complement nearby sister venue the Lord Gladstone.</span></p>
<p><span><span>Manenti Quinlan’s Nick Butler brokered the introduction of The Lady to the former St Joseph’s students.</span></span></p>
</body></html>

Paddy Coughlan sells the Lady Hampshire Hotel, Camperdown to Joey's syndicate

<html><body>
<p>Big taxation reforms are rare.</p>
<p>The stamp duty bracket creep changes announced this week by the NSW State Government were heralded as the biggest overhaul to stamp duty in three decades.</p>
<p>That was true because for 32 years our state treasurers have simply taken billions in stamp duty, securing around $1 out of every $5 the state government receives as revenue.</p>
<p>I recall writing the median stamp duty would rise to $1500 after Premier Barry Unsworth's 1986 budget, as the Labor government increased stamp duty on properties sold for more than $300,000 and $1 million to the new rates of 4.5% and 5.5% respectively.</p>
<p>The typical Sydney buyer now pays $42,000 duty for their acquisition.</p>
<p>NSW residents currently pay almost $7 billion annually in taxes to shift home - some $134 million in St Leonards, $88 million in Waterloo; Kellyville buyers paid $119 million, some $109 million paid in Mosman; Riverstone $94 million and $86 million in Parramatta.</p>
<p>The tax reform will cost the state budget about $185 million in the three years after the changes slowly take effect from July 1 next year.</p>
<p>The announcement by NSW Treasurer Dominic Perrottet that the rate of increase in stamp duty will be reduced was a headline opportunity rather than leadership, being a very small step towards greater reform, rather than seriously addressing the cost of housing.</p>
<p>The government noted the changes will cut the average amount of stamp duty per property transaction by around $500 by 2021, but the savings will rise over time, presumably especially when inflation gets into a gallop again.</p>
<p>Stamp duty is levied on residential property purchases using price brackets and rates that rise from 1.25% under $30,000 to 5.02% over $3 million. The brackets have remained largely unchanged since 1986 despite the increase in Sydney property prices since then from $80,000 to its current near $1 million median dwelling price.</p>
<p>Stamp duty has become a tax regime that holds up housing turnover and impedes employment mobility. </p>
<p>It is especially an issue as the tax discourages the ageing population nearing retirement from leaving large family homes occupied by only one or two people.</p>
<p>The announcement was noteworthy as NSW will be the first state to index stamp duty brackets to the CPI. </p>
<p>It is a small signal recognising that reform is needed.</p>
<p>An audit, by former NSW treasury secretary Michael Lambert, described stamp duty as the most inefficient of NSW state taxes.</p>
<p>It recommended a ‘stamp duty replacement tax’ be phased in to replace all property transfer duties.</p>
<p>The proposed replacement tax would be based on land values rather than market values of properties and would be payable annually instead of when properties change hands. </p>
<p data-gtm-vis-recent-on-screen-6236702_632="335145" data-gtm-vis-first-on-screen-6236702_632="335145" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">Treasurer Perrottet is open to further reform but emphasises any change would require the co-operation of the Commonwealth government and all the other states, given issues involving GST funds distribution.</p>
<p>The ACT government is phasing out stamp duty and replacing this with a land tax. </p>
<p>The Australian Capital Territory has Australia’s most efficient tax base – every dollar of revenue raised costs the economy just 21.9 cents.</p>
<p>New South Wales has the least efficient – every dollar of revenue raised costs the economy 29.7 cents.</p>
<p>It's time for the Federal Treasurer and Prime Minister to take up the issue at Council of Australian Governments and bang heads, just as Peter Costello and John Howard did with the GST some two decades ago.</p>
<p><em>This article first appeared in </em>The Daily Telegraph. </p>
</body></html>

NSW's stamp duty changes a good step, but further reform needed

<html><body>
<p>Big names, big losses. Imagine taking a $500,000 hit on your house resale.</p>
<p>That's the largest loss yet taken by Sydney sellers in the property market downturn now taking hold.</p>
<p>The $500,000 price woes are shared equally on a sale at Warrawee and Castle Cove.</p>
<p>Jerry Ren, the now bankrupt former oil and gas entrepreneur Jerry Ren took a $500,000 loss when <a href="https://chiltonrealestate.com.au/m290/27-29-chilton-parade-warrawee" target="_blank">Bremon, the Warrawee trophy home</a> (top) sold recently for $11 million. The vast home, once dubbed the Chilton Hilton, had been bought by Ren, described as the Northern Territory's first billionaire, for $11.5 million eight years ago.</p>
<p class="first-para">It was the Waitan Restaurant, Haymarket restauranteur Kai Meng who took a $500,000 loss on his Castle Cove home resale, selling off-market for $5.5 million (below).</p>
<p class="first-para"><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/2018/11/12/neerim1.jpg" alt=""></p>
<p class="first-para">The property had cost $6,006,666 in 2011. Ofcourse after other costs including $360,000 stamp duty on purchase and around $115,000 on estate agent commissions the total loss would have neared $1 million.</p>
<p class="first-para">The grand six-bedroom residence, built in the late 1990s, is set on 2500 square metres of Neerim Road waterfront reserve. The Waitan Group’s windup has seen debts owed to the Australian Tax Office.</p>
<p class="first-para">The property pain is emerging amid vendors across Sydney, although CoreLogic stress it is hitting the top end the most.</p>
<p class="first-para">Values are down<span> 8.6 percent amid <span>the top percent of the market compared to a 4.6 percent drop amid the cheapest quartile.</span></span></p>
<p class="first-para"><span><span>The top nine known losses have seen prices fall by between 8.3 percent and 0.5 percent.</span></span></p>
<p class="first-para"><span><span>But lesser losses are emerging among the suburbs. Cricketer Nathan Lyon recently stumbled with a $15,000 Vaucluse apartment price drop. </span></span></p>
<p class="first-para">Around 3 percent of Sydney house sales have been at a loss, in the last quarter survey by CoreLogic, and 3.5 percent of apartments.</p>
<p class="first-para">CoreLogic first calculated Sydney prices were falling in September last year, with actual losses quickly following.</p>
<p class="first-para">The downturn followed a five year period when prices peaked with some 78 percent growth.</p>
<p>In Sydney the declines over the past year has seen median home prices fall by around $70,000.</p>
<p>In percentage terms, the 7.4 percent annual dwelling decline in Sydney was the largest since February 1990.</p>
<p class="x_xmsonormal"><span>"Sellers who are motivated and willing to meet the market essentially reset price points, so even if you’re a little stubborn as a seller and want to hold onto your price, unfortunately you are now at the mercy of others who are dropping prices to meet buyer demand," inner west agent Matt Hayson said.</span></p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"The market has certainly slipped faster than most forecast," agent Matt Hayson said, noting the recent 7.4 percent Sydney price decline data.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"It hasn’t been just the speed of the decline but also how far it has moved too.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I think a few articles suggested we are back to 2016 prices but I’d suggest it’s 2015 prices already and continuing to drop," he said.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"Auctions are largely not working. </p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I’m seeing more and more auction delays given the incredibly tough restrictions on pretty safe bet home loan applicants.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"If you place your property on the market, you’d want to prepare yourself mentally for a roller coaster and in most cases very weak feedback with the likelihood of one or maybe two buyers willing to make an offer."</p>
<p>Matt Hayson said homeowners who were selling recently purchased properties were in a vastly different position from those selling homes owned for decades.</p>
<p>“And for people who don’t own a home, it is a good chance to get into the market.” </p>
<div>The pricey Palm Beach saw its second resale at a loss last month.</div>
<div> </div>
<div>Christian Ainsworth, of the aristocrat pokie machine family, took a <a href="https://www.realestate.com.au/sold/property-house-nsw-palm+beach-129620950" target="_blank">$400,000 loss on his Palm Beach retreat</a> (below).</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/2018/11/12/ocean.jpg" alt=""></div>
<div> </div>
<div>He paid $3,425,000 for the four bedroom dress circle Ocean Road property in 2013 and sold for $3,025,000 through BresicWhitney agent Adrian Oddi.</div>
<div> </div>
<div>"The vendor <span><span>was very happy with the price achieved and the timeframe," Oddi said. </span></span>
<p>“Remember 50 percent of Sydney properties have no buyers. The other 50 percent might have one buyer. That’s the reality,” Oddi said.</p>
</div>
<div>Indeed Ainsworth had been conditioned to expect an even bigger loss having a $2.9 million price guide for the 1960s home.</div>
<div> </div>
<div>There was a $2.5 million sale recently of a hillside Palm Beach weekender that previously sold at $2.55 million in 2005.</div>
<div> </div>
<div>There had been a foreboding big loss at neighbouring Whale Beach late last year when the retiring Dow Chemicals chief Andrew Liveris sold his ’70s-style beach house for $3.33 million to his neighbour.</div>
<div> </div>
<div>The home, neglected by its absentee owner, had cost $3.675 million in pre-GFC 2006, highlighting how the luxury second home market was hot hard and long after the global financial crisis. Liveris took a $345,000 loss on the 1,110 sqm Whale Beach Road property which slopes down to the ocean.</div>
<div>
<div> </div>
<div>Boom time off the plan exuberance has emerged as a weak spot for prices.</div>
<div> </div>
<div>Last month the online publisher Jackie Maxted lost $200,000 in the resale of a penthouse in the warehouse conversion of the iconic Griffiths Tea building in Surry Hills.</div>
</div>
<div class="in-content-ad">
<div> </div>
<div>Maxted, who founded the Beauty Heaven website, paid $4 million off the plan in 2015 for New York-style Federation warehouse apartment. She rquietly sold the two level, three bedroom penthouse for $3.8 million.</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">The Block judge Neale Whitaker lost $170,000 on his stylish Alexandria apartment when selling for $1,535,000 earlier this year. He bought on completion in the SJB Architects &amp; Interiors designed Birmingham Street block for $1,705,000 in 2016.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">"Disappointed of course but market forces and market forces," Neale tweeted after its unsuccessful auction.</div>
<div class="in-content-ad">
<div>  </div>
</div>
<div class="in-content-ad">Flipping is now a tricky tactic in property. The art collector John Scheaffer took a direct $100,000 loss on Bonnignton, the Tudor, English-style manor in Bellevue Hill that he bought for $20.5 million in February.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">After a quick makeover, where he <span>removed old carpet, restored timber floors and replaced electric switchboards and lighting during his very brief ownership.</span> Schaeffer could only secure $20.4 million at its recent auction.</div>
<div class="in-content-ad">
<p>Charles Tarbey, chairman of Century 21 Australasia noted people taking losses in the current property market might be forced sellers, or parties looking to downsize or upsize.</p>
<p>"Taking a loss may not be a huge concern for some so long as they are buying in a market that has also experienced comparative declines in property prices.</p>
<p>"However, many markets are still experiencing property price growth so these groups should be conscious of that and look to do their research," Tarbey stressed.</p>
<div>
<div>
<p class="first-para">Jade Guven, the wife of the property developer Savas Guven, sold her Bayview abode for a $450,000 loss.</p>
<p class="first-para">Having paid $3.7 million, the luxury four bedroom home sold seven months later for $3.25 million.</p>
At Clovelly fitness entrepreneur Jacinta McDonell, who co-founded Anytime Fitness in Australia, sold her <a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank">Clovelly project for a $350,000 loss</a> last month (below).</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/2018/11/12/seaview-clov.jpg" alt=""></div>
<div> </div>
<div class="in-content-ad">She didn't get round to developing the duplex-style Federation that was made up of two two bedroom apartments. She just sold for $3.12 million, having paid $3.47 million last November.<a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank"></a>
</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">BresicWhitney director Shannan Whitney says the idea of ‘list it and they will come’ has evolved into a new dynamic.</div>
</div>
<div class="in-content-ad">
<div>
<p>“Pricing ethos has been mainly focused on finding a price in line with comparable sales. </p>
<p>"Now it’s about finding a price that ensured you will engage a reluctant buying market.”</p>
</div>
<div>Whitney recently advised clients "the current property climate is testing emotions all over Sydney."</div>
<div> </div>
<div>"At the heart of it, plenty of people have been, mostly unintentionally, set up for failure," he noted.</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">Hardly off a cliff, but Nathan Lyon had to revise his price hopes on his Vaucluse investment apartment.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">
<div>Local agent Brad Pillinger sought more than $1.2 million initially, but the three bedroom apartment would later see it passed in on an $1.1 million vendor bid.</div>
<div> </div>
<div>Lyon ended up selling for $1,085,000, having paid $1.1 million in 2015.</div>
<div> </div>
<div>Even vacant land blocks are heading backwards.</div>
<div>
<p>A vacant block of land at Menai in the Sutherland Shire has sold for $955,000, going backwards on its sale last year.</p>
<p>The 818 sqm building block in Anderson Ridge, one of the Shire's new estates, fetched $980,000 in 2017.It took 111 days to sell, with the price revision to $1.02 million prompting a sale.</p>
<p>The block at 39 Anderson Place first sold for $640,000 in 2015 when bought from the developer.</p>
</div>
<div>
<p>Sydney's largest losses were in the 1990 recession when one Point Piper harbour front house fell from its record $11.5 million peak in 1987 back to $6.1 million and then $5.25 million over a five year period.</p>
<p>Terry Ryder at Hotspotting website says a<span>nyone who has owned for a few years will still be selling for a decent profit in Sydney.</span></p>
<p><span>"<span>The only people taking losses in Sydney should be people who bought recently and, for whatever reason, need to sell in a hurry," Ryder advised.</span></span></p>
<p>This article was first published in the Saturday Daily Telegraph. </p>
</div>
</div>
</body></html>

Orderly downturn sees $500,000 losses taken at Sydney top end residential

<html><body>
<p>There were 2,384 auctions held across the capital cities, returning a preliminary auction clearance rate of 46.8 per cent.</p>
<p>The average national clearance rate continued to track below 50 per cent for the seventh consecutive weekend.</p>
<p>"Given this week’s preliminary result is the lowest we’ve seen yet, it’s likely that as final results are collected, this week’s final clearance rate could come in lower again, potentially nudging the low 40 per cent range," CoreLogic auction analyst Kevin Brogan said.</p>
<p><img src="https://www.urban.com.au/images/2018/11/12/CL%2012-11%20table.JPG" alt=""></p>
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"This is a considerably softer trend to what was seen over the same period last year when clearance rates were tracking around the low-mid 60 per cent range," he said.</span></p>
<p><span>The national weakening saw every capital cities sit below 50 percent, lead by</span> Melbourne and Sydney who have accounted for 83 per cent of all auctions held so far this year.</p>
<p>Volumes were relatively steady across Sydney week-on-week with 830 auctions held, up on the 813 held last week.</p>
</div>
<div class="column">
<p>The nation's top auction sale was Lakonia at Chiswick where <a href="https://www.realestate.com.au/property-house-nsw-chiswick-129465038" target="_blank">29 Hezlet Street </a>(below) sold through <span>Fayez Yammine at </span>Devine Real Estate for $5.95 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/2018/11/12/chis.jpg" alt=""></p>
<p><span>The price guide for the five bedroom home set on the Parramatta River had been $5.5 million.</span></p>
<p>The property which attracted six registered bidders was passed in at $5.7 million who then shortly after lifted their offer by $250,000.</p>
<p>Sydney's auction clearance rate is heading toward a 30-year low, according to Domain, which had its preliminary clearance rate at 41 percent.</p>
<div class="column">
<p>Melbourne had a preliminary clearance rate of 48 percent, with 1,141 auctions held across the city.</p>
</div>
<p>It's top sale was at Glen Iris.</p>
<p>Koonwarra (below), at <a href="https://www.realestate.com.au/sold/property-house-vic-glen+iris-129602270" target="_blank">29 Dorrington Avenue</a>, fetched $3.85 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/2018/11/12/glen1.jpg" alt=""></p>
<p><span><span>The single level residence was available for sale for the first time since it was built in 1921.</span></span></p>
<p>The price guidance had been $3.5 million to $3.75 million. </p>
<p>There was just the one bidder when a vacated timber Port Melbourne cottage (top) offering sold for $860,000, which reflected a loss on its prior sale.</p>
<p>A builder made an $810,000 bid and secured its post-auction.</p>
<p>The price guidance had been $800,000 to $880,000 for the property marketed as a blank canvas.</p>
<p>There had been a $964,000 sale of the one-bedroom cottage at <a href="https://www.realestateview.com.au/real-estate/58-station-street-port-melbourne-vic-3207/property-details-buy-residential-12175455/" target="_blank">58 Station Street</a> in June last year.</p>
<p> </p>
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr id="x_rpMostExpensive_trMostExpensiveRow_0">
<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">29 Hezlet St, Chiswick NSW 2046, 5 br House, Devine Real Estate Drummoyne</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$5,950,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_1">
<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">29 Dorrington Av, Glen Iris VIC 3146, 4 br House, Jellis Craig Stonnington</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$3,850,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_2">
<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">56 William St, Norwood SA 5067, 3 br House, Klemich Real Estate - RLA174424</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,088,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_3">
<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">24 Garema St, Indooroopilly QLD 4068, 4 br House, Plum Property</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,805,000</td>
</tr>
<tr id="x_rpMostExpensive_trMostExpensiveRow_4">
<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">47 Barrallier St, Griffith ACT 2603, 4 br House, Peter Blackshaw Real Estate Manuka</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$2,650,000</td>
</tr>
<tr>
<td colspan="2">
<p>Most affordable</p>
</td>
<td colspan="2"> </td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_0">
<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">28 Bancroft St, Oakhurst NSW 2761, 3 br House, Ben Price Estate Agents</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$440,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_1">
<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">3/414 Blackshaws Rd, Altona North VIC 3025, 2 br Villa, Jas Stephens</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$259,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_2">
<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">16 Atlanta Av, Ingle Farm SA 5098, 3 br House, LJH Walkerville | Modbury</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$370,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_3">
<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">31 Arrakune Cr, Kallangur QLD 4503, 3 br House, LJH Kallangur</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$396,000</td>
</tr>
<tr id="x_rpMostAffordable_trMostAffordableRow_4">
<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">48 Boult Pl, Melba ACT 2615, 2 br House, Luton Properties - Kippax</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$392,500</td>
</tr>
</tbody></table>
<p><span> Source: Domain</span></p>
<p><span> </span></p>
<p>Adelaide recorded a preliminary auction clearance rate of 47.5 per cent, while in Perth only 20 per cent of auctions cleared.</p>
<p>Canberra, which had a 45 percent success rate, had its top sale in Griffith at $2.65 million.</p>
<p>The <a href="https://www.realestate.com.au/property-house-act-griffith-129623922" target="_blank">47 Barrallier Street offering</a> was a two-level modern home with three metre high ceilings.</p>
<p>The nation's cheapest weekend sale was a two bedroom villa at <a href="https://www.realestate.com.au/property-villa-vic-altona+north-129591898" target="_blank">3/414 Blackshaws Road, Altona North</a>.</p>
<p>The Melbourne offering fetched $259,000 having been listed with $240,000 to $260,000 hopes.</p>
<p>It last sold at $70,000 in 1990.</p>
<p>It was a $210 a week rental in 2013.</p>
<p> </p>
<p><span> </span></p>
</div>
</div>
</div>
</div>
</body></html>

Port Melbourne time capsule cottage goes back in price

<html><body>
<p>Macquarie Group now forecasts the current downturn in Sydney's housing market will be larger than it first anticipated, with price declines of between 15 per cent to 20 per cent likely.</p>
<p>The decline will wipe out price gains secured since 2015, putting buyers over the last three years into negative equity.</p>
<p class="_1665V undefined">The report suggests the falls to date have so far "been orderly with little evidence of distressed selling." But it suggests the fear of buying too early by buyers waiting in the wings will send the market into deeper decline.</p>
<p class="_1665V undefined">The report, headed Healthy Correction or Bruising Bust? says without any significant economic downturn the medium term, most likely scenario was several years of flat prices after the fall.</p>
<div class="_1665V undefined">“In June, we revised our expectations to be for a 4 to 6 per cent peak-to-trough fall in national housing prices and for a decline of around 10 per cent in Sydney,” wrote Justin Fabo and Ric Deverell, members of Macquarie Research’s economics team.</div>
<div class="_1665V undefined"> </div>
<div class="_1665V undefined">“Fast forward to now and it’s becoming clear that the extent of price declines is likely to be even larger."</div>
<div class="_1665V undefined"> </div>
<div class="_1lC_G"><img src="https://www.urban.com.au/images/2018/11/8/Graph%202.JPG" alt=""></div>
<div class="_1lC_G"> </div>
<div class="_1lC_G">“The overall decline is now likely to approach 10 per cent… the largest peak-to-trough decline in nominal housing prices in almost 40 years.”</div>
<div class="_1lC_G"> </div>
<div class="_1665V undefined">
<div class="_1lwW_"><source media="(min-width: 1024px)" srcset="https://static.ffx.io/images/$zoom_0.43%2C$multiply_1%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_0/t_crop_custom/w_780/t_sharpen%2Cq_auto%2Cf_auto/663c0ff658bef82614c27caf69134bce6106e9e9"></source></div>
The report noted Sydney average dwelling prices had fallen 9 per cent already and were "currently falling at annualised monthly rates of roughly 10 per cent."</div>
<div class="_1665V undefined"> </div>
<div class="_1ysFk">
<div class="_1665V undefined">“This suggests that Sydney and Melbourne housing prices are now more likely to fall by 15 to 20 per cent from the peak."It acknowledged the fall in Sydney prices "is already one of the largest on record.”</div>
<div class="_1665V undefined"> </div>
<div class="_1lC_G">“Because of the extent of the rise in Sydney and Melbourne housing prices in recent years, even a 20 per cent peak-to-trough decline would merely take prices back to April/May 2015 levels,” they say.</div>
<div class="_1lC_G"> </div>
<div class="_1lC_G"><img src="https://www.urban.com.au/images/2018/11/8/Graph%203.JPG" alt=""></div>
</div>
<div class="_1lC_G"> </div>
<div class="_1lC_G">"With the benefit of hindsight it is now clear that the housing price correction will be deeper. </div>
<div class="_1lC_G"> </div>
<div class="_1lC_G">"Investor demand has moderated significantly amid price falls, and negative sentiment is weighing on both owner-occupier demand for housing (fear of buying too early) and the availability of credit as banks more rigorously apply lending criteria in the face of the risks associated with the Royal Commission (fear of being accused of irresponsible lending)," Fabo and Deverell noted.</div>
<p>They argued recent concerns over a potential credit crunch and Labor's negative gearing potential impact are overblown.</p>
<p>"A significant curtailment of the availability of credit should see declining average loan sizes in addition to weak aggregate lending. We are seeing neither of those." they say.</p>
<p>It also suggest the risk posed by the proposed changes to negative gearing and capital gains tax from any Labor Government "will likely be small"</p>
<p>This article was first published in the Daily Telegraph.</p>
</body></html>

Fear of buying too early will send property downturn deeper: Macquarie

<html><body>
<p>It was hard not to miss the unflappable buyers' agents lining the front (and or back) row when<em> The Block </em>Gatwick apartments went to auction last month.</p>
<p>All five of the renovated St Kilda apartments sold in the televised finale were purchased through buyers’ agents this year, just like last time at Elsternwick. </p>
<p>Buyers’ agents are licensed professionals who specialise in searching, locating, evaluating and negotiating the purchase of property on behalf of buyers.</p>
<p>They do not sell real estate, although many buyers’ agents were previously real estate agents.</p>
<p>They are engaged independently and paid for by the buyer to act on their behalf perhaps because they don't have the time for the required research, calculation, and consideration.</p>
<p>There were times during the auctions when there was an obvious tense showdown between the auctioneer and the buyers' agents.</p>
<p>Both were doing their job, adding to the televised excitement. There was even a brief suggestion of collusive bidding.</p>
<p>Egos were there on display, as auctioneer and buyers’ agents battled to triumph. </p>
<p>There was the strategic decision by one auctioneer not to accept opening bids which were above reserve because he thought the apartment was worth much more.</p>
<p>The auctioneer then aggressively declined, at certain stages, to take small incremental bids despite having confirmed the apartment was on the market.</p>
<p>All those threatening "final" bid calls didn't have the normal impact because the auctioneer was dealing with hardened professionals, not susceptible emotional buyers.</p>
<p>The virtual absence of genuine buyers from the crowd from <em>Block</em> auctions meant the typical auction anxiety was limited to the contestants on the couch.</p>
<p>The buyers' agents were mostly playing it deadpan.</p>
<p>Buyers’ agents typically represent buyers, although <em>The Block </em>has roped them into helping the contestant understand buyer desire.</p>
<p>When the buyer's advocates joined the series, many speculated that the move was intended to help prevent a repeat of the Richmond season's dismal auction results.</p>
<p>These buyers' agents enjoy huge publicity during the series and then again on auction day.</p>
<p>One of the key aspects of using an independent buyers’ agent ought to be their ability to evaluate a property’s pros and cons objectively.</p>
<p>They’re not supposed to get emotional about the purchase like buyers do.</p>
<p>They can assist buyers retain their privacy.</p>
<p>Buyers’ agents can be a good idea for the simple fact that most people don’t buy a home or investment property on a regular basis.</p>
<p>A buyers’ agent is in the market every day, so their skills are well-honed and well placed to advise clients on how to buy the right property at the right price.</p>
<p>They also can source off-market properties before the public marketing campaigns.</p>
<p>When it comes to fees, there is no industry standard however the general rule of thumb is a around 2% commission plus GST on the purchase price. </p>
<p>Some buyers’ agents choose to charge a fixed fee. </p>
<p>It can depend how much of the service buyers seek. </p>
<p>Word of mouth recommendation is a good way to start the selection. And in the same way vendors would interview a few estate agents before engaging one to sell their home, buyers should interview a few buyers’ agents.</p>
<p>This enables buyers to compare their services, knowledge and fees and find the right one.</p>
<p><em>This article first appeared in </em>The Daily Telegraph. </p>
</body></html>

What do buyer's agents do for real estate buyers?

<html><body>
<p>Mystery surrounds the sale of Double Bay retail and office premises that sold for $12.5 million at auction tonight.</p>
<p><span>The top bidder was Eduard Litver</span><span> who owns the retail component of the Cosmopolitan Centre on the opposite side of Knox Street.</span></p>
<p>But there are whispers Litver was bidding for the Ma family who own adjoining premises. </p>
<p><span>The family of Hong Kong press baron Ching-Kwan Ma has been buying up Double Bay in recent times.</span></p>
<p>Auctioneer James Keenan announced the 31-33 Knox Street premises on the market at $10.2 million.</p>
<p>There were just the two bidders.</p>
<p>It is sandwiched between the Savoy Hotel and the newly located ANZ Bank, which replaced the long running D'Bees Restaurant.</p>
<p>The property also comes with an additional rear access to Knox Lane.</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/2018/11/5/jacobs2.jpg" alt=""></p>
<p>The lower ground space is tenanted by Sportscraft, which has recently been renovated throughout with a lease that expires September 2022.</p>
<p>Christie's occupy the top floor of the <a href="https://www.realcommercial.com.au/property-retail-nsw-double+bay-503006830" target="_blank">two level Knox Street building</a>. The executive office floor spans 250 sqm.</p>
<p>The modern double storey asset with plate glass and concrete facade has a net passing income of around $435,000 per annum.</p>
<p>There's 485 sqm of total lettable area on its 300 sqm parcel which is zoned flexible B2 local centre.</p>
<p>Ray White Commercial agents Jacob Fahd and Grant Whiteman marketed the property.</p>
<div class="page" title="Page 3">
<div class="layoutArea">
<div class="column">
<p><span>The outgoings total $64,000 including $11,000 council rates and $42,000 land tax. </span></p>
</div>
</div>
</div>
<p>The Ma family's last Double Bay purchase was $14.7 million on <a href="/expert-insights/investing/ma-family-buys-in-double-bay-for-14-7-million">Cross Street</a>.</p>
<p>There was a $12.5 million purchase by the Ma family in 2016 on Bay Street from the Perth socialite Rose Porteous.</p>
<p> </p>
<p> </p>
</body></html>

Mystery after Knox Street, Double Bay premises sell for $12.5 million

<html><body>
<p>Actress Claudia Karvan and longtime partner Jeremy “Jez” Sparks sold their inner Sydney warehouse on the eve of its scheduled weekend auction.</p>
<p>The undisclosed price was above its $2.7 million guidance for the East Redfern warehouse.</p>
<p>The four-level laneway residence sold to purchasers who lived in the neighbourhood.</p>
<p>Karvan, currently on a film shoot in the Middle East, and Sparks, an ­engineer, had owned the four bedrooms, three bathrooms space with a garage, for 15 years.</p>
<p>The 280 sqm property comes north-facing rooftop terrace with city skyline views,</p>
<p>“I can’t imagine ever leaving Redfern,” she told The Sunday Telegraph as they own elsewhere nearby.</p>
<p><a href="https://www.realestate.com.au/property-house-nsw-redfern-129470602" target="_blank">The Charles St warehouse residence</a> (above) comes with a door from a Clovelly petrol station; railway ceiling lights from Carriageworks; teak doors from Bali and a steel staircase from a 1960s factory.</p>
<p>It’s among five residences in the former clothing factory purchased by Sparks’s family in 1994.</p>
<p>The focus was on the Sydney auction market this week as Melbourne has had low auction activity due to the Spring Racing Carnival. </p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/11/5/CL-Nov5.jpg" target="_blank">to enlarge.</a></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/2018/11/5/CL-Nov5.jpg" alt=""></p>
<p>The 801 Sydney auctions secured a preliminary 47 percent clearance rate, which is about three percent lower than last week.</p>
<p><span>The most expensive house reported sold was a five-bedroom, mid-century house at </span>2 Coolawin Road, Northbridge (below)<span>. The property with a deep-water jetty was sold for $4.81 million.</span></p>
<p><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/2018/11/5/north.jpg" alt=""></span></p>
<p>Sales included five-bedroom hoarders' estate at Roseville Chase.</p>
<p>Items dating back more than half a century saw both the home and its yard full of rubbish.</p>
<p>Four of the 12 registered parties took the sale price to $1.763 million, some $263,000 above reserve for the 1100sqm holding at <a href="https://www.realestateview.com.au/real-estate/17-lockley-parade-roseville-chase-nsw/property-details-buy-residential-12168233/" target="_blank">17 Lockley Pd</a> which was was described as a “worst house, best street opportunity."</p>
<p>The buyers’ plan to rebuild.</p>
<p>In Melbourne's Fitzroy North a house vacated years ago after being gutted by fire sold for $970,000.</p>
<p>A young couple from the Fitzroy area won the keys, The Herald Sun reported.</p>
<p>There was heritage facade, but the rest of the 200 sqm space would require a full rebuild costing  another $400,000 to $800,000.</p>
<p>There were just the two bidders on the <a href="https://www.realestateview.com.au/real-estate/106-queens-parade-fitzroy-north-vic/property-details-buy-residential-12166608/" target="_blank">106 Queens Pde offering</a> (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/2018/11/5/fitz.jpg" alt=""></p>
<p>The house was announced on the market at $910,000 by the Sydney-based vendor.</p>
<p>Melbourne's top sale was the so-called White House at Wheelers Hill which fetched $2.02 million, well above the $1,690,000 to $1,859,000 price guidance.</p>
<p>It was built by the Temelli family on the 832sq m block at <a href="https://www.realestate.com.au/property-house-vic-wheelers+hill-129499326" target="_blank">110 Grandview Rd</a> (below) bought in 1986 for $78,000.</p>
<p>They finished the grand residence about eight years later.</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/2018/11/5/Wheelers1.jpg" alt=""></p>
<p>Harcourts Judd White auctioneer Andrew Dimashki saw it sold to a family moving to Melbourne from China.</p>
<div class="column">
<p>Melbourne saw the most notable dip in volumes coming off the back of the second busiest week for auctions this year last week (1,709).</p>
<p> </p>
<p>There were only 264 Melbourne homes taken to auction this week, returning a preliminary clearance rate of 50.5 per cent. Last week, a final clearance rate of 48.6 per cent was recorded across the higher volumes.</p>
</div>
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The first week of November saw fewer homes taken to auction across all the combined capital cities, after last week recorded the fifth busiest week for auctions this year with 2,928 offerings.</span></p>
<p><span> There were a total of 1,529 auctions held returning a preliminary auction clearance rate of 47.4 per</span><span>cent, increasing only slightly on last week’s final </span><span>clearance rate of 47 per cent. </span></p>
<p><span>"As the remaining results are collected, the final clearance rate will see its usual downward revision and likely come in lower than last week," CoreLogic auction analyst Kevin Brogan noted.</span></p>
<p><span> Over the corresponding week last year, a much higher 61.5 per cent of auctions were successful from 2,046 listings.</span></p>
</div>
<div class="column">
<p><span>Across the smaller auction markets, Adelaide was the best performing in terms of clearance rates with 57 per cent of auctions successful, while only 33.3 per cent of homes sold across Brisbane this week.</span></p>
<p><span>The Brisbane sales included a </span>two bedroom apartment in a leafy pocket of Taringa that fetched $380,000.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-qld-taringa-129446218" target="_blank">1/22 Union Street listing</a> was last sold in 1997 at $397,000.</p>
</div>
</div>
</div>
</div>
<p> </p>
</body></html>

Claudia Karvan sells East Redfern warehouse pre-auction

<html><body>
<p>No-one envisaged the Sydney property boom would continue with similar gusto into 2018, which would have been its sixth year.</p>
<p>But the accelerated price reversal has caught many sellers by surprise after an extended period of double digit annual price growth.</p>
<p>Prices haven't yet fallen back by a prior year's growth, but negative equity does now loom.</p>
<p>This concern, along with not knowing just how much further there will be in falls, is creating uncertainty.</p>
<p>And property markets don't like uncertainty.</p>
<p>Falling prices are not the only factor hitting the feel good wealth effect. </p>
<p>There are the recent sharemarket wobbles, the royal commission-induced <span>tighter lending conditions, low wage growth, </span>apartment oversupply fears, high household debt and the erratic political leadership.</p>
<p>The potential implementation of Labor Government policy hitting negative gearing incentives and hiking capital gains tax also has the markets worried as the Coalition government finally gets traction on raising the contextual consequences in a falling property market.</p>
<p>We are only starting to see the shocks of uncertainty in the property market.</p>
<p>And if it continues we will see it start being a drag on the wider economy too as fears about job security could see demand for goods fall, at least temporarily.</p>
<p>The RBA has modelling that found increases in uncertainty can trigger a downturn characterised by lower employment growth, weaker retail sales growth, and a fall in consumer confidence.</p>
<p>Olivier Blanchard, former chief economist of the International Monetary Fund, wrote in 2009 after the collapse of the US financial markets that there was “(nearly) nothing to fear but the fear itself.”</p>
<p>That was obvious at weekend auctions.</p>
<p>There's enduring purchasing interest, with extreme caution.</p>
<p>Some 18 contracts were issued to potential buyers during the marketing of <a href="https://www.realestate.com.au/property-house-nsw-north+balgowlah-129409278" target="_blank">a North Balgowlah brick home </a>(pictured above) in a great bushland location with renovation upside.</p>
<p>But not one bid came at its onsite auction.</p>
<p><span>Buyers and sellers are gaining insights that real estate goes up, down and or plateaus in cycles.</span></p>
<p><em>This article first appeared in </em>The Daily Telegraph.</p>
</body></html>

Property markets don't like uncertainty

<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