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<p class="x_mcntintro">The Longueville childhood home of late artist Brett Whiteley sold after negotiations following its weekend auction.</p>
<p class="x_mcntintro">The top bid was $4.14 million, with the sale price to its inner west buyers going undisclosed.</p>
<p class="x_mcntintro">The Sunday Telegraph reported they were one of four parties who registered to bid for the four-bedroom, three-bathroom 1920s-built home.</p>
<p class="x_mcntintro">The <a id="x_mcntLPlnk338256" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-longueville-128817522" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">18 Lucretia Avenue home </a>(pictured below) was the artist's home after his parents paid 2300 pounds in 1944.</p>
<p class="x_mcntintro">Clem and Beryl Whitely had bought the house when their son was five years old.</p>
<p class="x_mcntintro"><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/2018/8/13/LONGUEVILLE%202.jpg" alt=""></p>
<p class="x_mcntintro">It was sold for $33,500 in 1967.</p>
<p class="x_mcntintro">The modernised home last sold in 2012 for $2.55 million.</p>
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<p>There were 459 auctions held in Sydney returning a preliminary auction clearance rate of 59.1 per cent, compared to 51.9 per cent across 462 last week. It was 67.6 per cent across 798 auctions one year ago.</p>
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<p>There was also a 59 per cent national clearance rate among the 1,400 homes taken to auction across the combined capital cities.</p>
<p>Over the same week last year, auction volumes were considerably higher with 2,040 homes going under the hammer across the combined capital cities.</p>
<p>This time last year the clearance rate was a stronger 67.5 per cent.</p>
<p>Melbourne, Australia’s largest auction market, saw a preliminary auction clearance rate of 61.3 per cent across 718 auctions this week.</p>
<p>It was up from 57 per cent across 629 auctions last week. One year ago, Melbourne's clearance rate was a stronger 69.8 per cent across 955 auctions.</p>
<p>Melbourne's top reported sale was $3,105,000 for 5 Currajong Road, Hawthorn East.</p>
<p><a id="x_mcntLPlnk585241" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/5-currajong-road-hawthorn-east-vic/property-details-sold-residential-11988259/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">The modernised four bedroom timber Edwardian home</a> (pictured below) had a price guidance of $2.85 million to $3.1 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/2018/8/13/hawthorn%20east.jpg" alt=""></p>
<p>Perth was the weakest performing with a 43.8 per cent success rate followed by Brisbane's 49.2 percent.</p>
<p>Brisbane had the nation's cheapest result when mortgagees sold at Deception Bay, located 32 kms north of the CBD.</p>
<p><a id="x_mcntLPlnk690694" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-qld-deception+bay-128759214" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">The $305,000 sale</a> (pictured below) was a two storey three bedroom home.</p>
<p>It had last sold in 1994 at $48,000.</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/2018/8/13/deception%20bay.jpg" alt=""></p>
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jchancellor-FAypfDUnLy

Brett Whiteley's Longueville childhood home sold post auction

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<p>Sydney is not alone in seeing the end of the property boom with mild house price declines now a reality for some vendors.</p>
<p>The end of the ever-upward price cycle is actually happening across the world, from London to Beijing to Sydney.</p>
<p>After a five year boom that saw the median price up 75 percent, Sydney has belatedly joined others among the world's most sought-after cities where prices are coming back at bit.</p>
<p>Each city has their own set of circumstances, though there are some uniting threads too.</p>
<p>Many have had tax changes expressly introduced to dampen demand.</p>
<p>Many cities have prices somewhat out of kilter with housing affordability and the current trend of household income stagnation.</p>
<p>There are also tougher lending standards - and in our case a banking royal commission - that have combined to undermine the prevailing market.</p>
<p>Sydney doesn't have the troubling Brexit issue which has contributed to price falls in the UK capital.</p>
<p>But like Sydney, London sales volumes are down and more properties are being offered for sale as sentiment turns, especially within central London's best districts where prices are down 17.6 percent since the 2014 peak.</p>
<p>Prime London prices have been weakening since the 2014 stamp duty hike, according to research by Savills, with London's housing slowdown now spreading to other prime markets in the commuter belt. At the same time London developers have record numbers of pricey apartments, likely creating a glut.</p>
<p>In New York, the same trend with home sales in New York's most expensive boroughs falling now for three quarters, as inventory rises and sales volumes sits 17 percent lower.</p>
<p>Canadian home price growth has slowed, though its prices are still above their 2017 peak. Canada's frenzied housing market has dissipated in the wake of tightened mortgage lending, a foreign buyers tax, and four interest rate hikes by the Bank of Canada since last July.</p>
<p>Bloomberg noted recently there had been more than 30 restrictions, from buying thresholds to mortgage curbs, that have helped send sales to a historical low across China. New homes in China are now being offered for less than existing homes by some developers who faced heavy financing constraints.</p>
<p>While Hong Kong home prices are still rising, economists claim a cocktail of concerns ranging from the downbeat stock market, to trade war fears, and rising interest rates would soon take their toll on sentiment.</p>
<p>It seems it doesn't matter where you are around the world there's economic uncertainty, financial fragility and housing risk. There's never an all-encompassing sweet spot for everybody.</p>
<p>As the world's wealthy have been increasingly buying homes on multiple continents, legally or or sometimes illegally, the combined downturn could pose an interesting threat to some markets, according to the International Monetary Fund.</p>
<p>Australian home loan lenders are currently not prepared to lend to prior levels, which has dampened buyer enthusiasm.</p>
<p>Ofcourse Sydney is not one market, but rather hundreds across the suburbs, so there will still be bullish prices achieved this spring.</p>
<p>While the bleak headlines cast a pall over Sydney, for many Sydneysiders, it will be still be getting on with their lives.</p>
<p>This article was first published by the Saturday Daily Telegraph.</p>
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Sydney is like other international cities with end of ever rising property boom

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<p>The new owner of Peppermint Grove’s Taj-on-Swan superblock has emerged as businessman John Gillett.</p>
<p>He plans to build a family home to share with his family, The Weekend West reported after the $17 million acquisition.</p>
<p>Mr Gillett is a former Moran Health Care executive who sold WA aged care provider Craigcare last year in a deal worth $50 million to $100 million. </p>
<p>The Nedlands-based businessman bought the business in 2003 for a reported $25 million from the Pix family.</p>
<p>The business was sold to Bain Capital coming with about 900 beds across seven aged care and retirement homes in WA and Victoria.</p>
<p>The Bayview Avenue block, which had a $30 million price tag <a href="/news/taj-on-the-swan-set-for-auction-in-ailing-perth-market">two years ago</a>, failed to sell at auction last month.</p>
<p>It was passed in <a href="/news/taj-on-swan-auction-stops-with-15-6-million-offer">at $15.6 million.</a></p>
<p>Speaking publicly about his purchase for the first time, Mr Gillett told The West as a private person he had “naively” hoped to avoid attention.</p>
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John Gillett emerges Peppermint Grove’s Taj-on-Swan super block

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<p>An Airlie Beach home in the historic Chesapeake Estate has hit the market with $3 million hopes.</p>
<p>The property <a href="https://www.realestate.com.au/property-house-qld-mandalay-128053370" target="_blank">dates back to the 1980s</a> when eccentric Kiwi millionaire Ron McDonald had a vision to create a 76 hectare compound community with a target market apparently of deposed African dictators.</p>
<p>Their welfare was to be ensured by a team of ex-SAS guards.</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/2018/7/16/airlie%20beach%202.jpg" alt=""></p>
<p>McDonald made his money selling air-conditioning units in Saudi Arabia.</p>
<p>His brochures for the community dubbed, Parc Exclusif promised parklands, houses, apartments and a private hospital. </p>
<p>After buying a steep rain-forested hillside just east of town, McDonald began building the infrastructure for the thwarted proposed estate.</p>
<p>The three bedroom Mandalay Road home is listed for $3 million by Robyn Tyson at Professionals Whitsundays agency.</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/2018/7/16/airlie%20home%20.jpg" alt=""></p>
<p>It is being sold by author and investor Bruce Bickerstaff, who bought the home from Hogs Breath Cafe chain founder Don Algie in 2000.</p>
<p><em>This article was first published in the </em>Weekend Australian.</p>
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Airlie Beach home with colourful backstory hits the market

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<p>The Federal Government scheme that aims to incentivise baby boomer home owners aged over 65 to downsize from their largely empty homes began this month.</p>
<p>The spruikers are ready in wait.</p>
<p>The elderly will be able to put the proceeds of the sale of their home into a superannuation fund tax free, up to $300,000 each or $600,000 per couple.</p>
<p>Research suggests the overwhelming majority of retirees own outright, having no mortgage, so their prospect of surplus funds is real. The estimated value of pensioner home equity at $625bn.</p>
<p>The new scheme, announced in the 2017 budget by Federal Treasurer Scott Morrison, means the elderly, including the baby boomers still way off retirement, will need to carefully consider the sale of their home to potentially utilise the opportunity.</p>
<p>Morrison's thinking was to encourage ageing homeowners to downsize to free up more affordable exisiting stock for young families.</p>
<p>The initiative was first floated three years ago by Morrison when he was social services minister with the government having advice from the Productivity Commission that estimated 15 per cent of older Australians wanted to move.</p>
<p>Of course Scott Morrison can't force older Australians to move house, given the emotional and financial investment in family homes, but the incentive offers some encouragement.</p>
<p>It must have been the home for the past decade, and it can only happen the once.</p>
<p>The superannuation break comes with no requirement it is into a smaller home. It could see them entering the rental market or relocating to an aged-care facility.</p>
<p>The downsizer contribution can only come from the sale proceeds, so, if a couple sold their home for $500,000, their combined downsizer contributions would be limited to $500,000.</p>
<p>Those most likely to benefit from the scheme will be self funded retirees who are excluded from receiving a government pension due to exceeding the income and/or assets tests.</p>
<p>There are still big impediments the government has not addressed on why the elderly stay in large homes long after their children have left.</p>
<p>For many the super downsizer contribution will reduce, even eliminate the age pension and associated pensioner cards.<br>Staying put which has come with the prospect of huge gains from property price growth and the maintenance of their pension often outweigh the advantages of moving.</p>
<p>There will likely be many opening a new superannuation account in which to make the downsizer contribution which must be done within 90 days of settlement.</p>
<p>I worry that the elderly will become vulnerable to what will be a new industry spruiking retiree smsfs.<br>After all it's not that the SMSF arena is full of clean skins currently.</p>
<p>Last month Australian Securities and Investments Commission (ASIC) advised around 90 percent of financial advice on setting up smsfs did not comply with relevant laws.</p>
<p>And ASIC identified a growing use of 'one-stop-shops' where there was an increased risk of getting poor advice that did not take account of personal circumstances or was not given in their best interests.</p>
<p>These are among the many factors to consider so professional financial advice should be sought.</p>
<p>This article first appeared in The Saturday Telegraph</p>
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Spruikers will take advantage of retirees in new SMSF downsizing contribution scheme

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<p>Robyn and Peter Clarke, the parents of Sarah-Jane Clarke, founder of the fashion label sass &amp; bide, have listed their historic North Coast NSW cattle farm.</p>
<p>Dyraaba Station has been listed with a $1.8 million asking price. They bought the Casino district farm in 2008.</p>
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<div>Established in 1840 by the Barnes family, the Dyraaba farm comes with 60 hectares along with the original homestead and buildings.</div>
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<div>The homestead, built of hand sawn hardwoods, has verandahs with views over most of the property in the Richmond Valley.</div>
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<div>It's surrounded with gardens of trees and plants, plus tennis court.</div>
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<div>It has been the home to 50 Angus and Wyagu cows and calves during the Clarke's tenure.</div>
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<div>“We immediately fell in love with the beauty and charm of the place," Mr Clarke recalled. <br><br>"We like old buildings and appreciate the quality of the axemanship and the small details that make Dyraaba unique.</div>
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<div>"Dyraaba Station is so significant to the local district.</div>
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<div>"There are many people in the local community that were born here and then went on to work at the station. It has played such an important role in the development of the regional community." </div>
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<div>Ray White Rural agent Peter Douglas described Dyraaba Station as a “significant part of Australia’s rural heritage”.</div>
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<p dir="ltr">“It’s one of the original settler homes, the real people who pioneered the cattle industry in Australia,” Douglas said.</p>
<p dir="ltr">The cattleyards are a reminder of the days when Dyraaba's original 80,000 Hectares was a centre of a vast cattle empire.</p>
<p dir="ltr"><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/2018/7/24/dyraaba%201.jpg" alt=""></p>
<div>While the marketing marketing campaign shows the fertile rolling paddocks looking lush, Robyn Clarke said that July had been the driest month in the past decade.</div>
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<div>"For the year to the end of July 2018, we have had 876mm.</div>
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<div>"The previous 12 months ending July 2017, we had 1198mm."</div>
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<div>Its quiet healthy cattle resting under the historic fig trees after drinking from Dyraaba Creek.</div>
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Historic 1840s Dyraaba Station listed at $1.8 million

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<p>There's still debate among economists over just whether there's a deepening credit crunch that could further adversely impact on housing markets.</p>
<p>We are now well into attempts begun in late 2014 by the regulator, the Australian Prudential Regulation Authority, to curb over zealous lending, along with house price escalation and ballooning household debt.</p>
<p>Last August, I wrote that one of the key reasons that spring 2017 would see easing price growth was that the banks wouldn't lend as much.</p>
<p>It has extended right through the 2018 autumn market too, yet Macquarie’s latest survey of bank lending for property loans has found credit availability actually hadn’t changed too much over the past year.</p>
<p>Maybe the bank's bark is worse than their bite. If correct that's a relief, but that doesn't mean home loans will get any easier to obtain or that house price growth will return.</p>
<p>Macquarie undertakes its annual mortgage “mystery shopping” exercise where Macquarie analysts pose as potential customers at ANZ, Commonwealth Bank, NAB, Westpac, Bankwest, Bendigo and Adelaide Bank, Bank of Queensland, Suncorp and St George.</p>
<p>They found that banks had tightened their credit standards by a further 5% over the past year as a result of policy changes.</p>
<p>From the peak of mortgage activity in 2015, borrower capacity has fallen by 13% for owner-occupiers and 22% for investors.</p>
<p>The survey found some banks were willing to lend up to $1 million to a property investor earning $105,000 a year, but typically less than $600,000 to an owner-occupier on the same income.</p>
<p>The average loan capacity for owner-occupiers fell from $700,000 in 2015 to $600,000 presently, while average loan capacity for investors has fallen from $1 million to $800,000.</p>
<p>The anonymous mortgage shopping study conducted by Macquarie analyst Victor German tell the bank officers they were earning $105,000, had general living expenses of $1200 a month, were spending $1300 a month on rent, and had no dependents and a clear credit history with an $11,000 credit card limit.</p>
<p>UBS have an alternative view which is that the credit tightening process was only going to get tighter.</p>
<p>It argues regulatory pressure to tighten lending standards has so far primarily hit the investor market.</p>
<p>UBS banking analyst Jonathan Mott says owner-occupiers have only been hit with a higher household living expenditure benchmark.</p>
<p>“We estimate owner-occupier maximum borrowing capacity has been reduced 7-10% since 2015 and investor maximum borrowing capacity has reduced by 10-30% depending on the borrower’s existing debts,” Mott said in a research note.</p>
<p>Interestingly the boss of Australia's banking regulator, Wayne Byres, recently claimed "the heavy lifting on lending standards has largely been done".</p>
<p>Byres added that "any tightening from here on is expected to be at the margin as banks seek to get a better handle on borrower expenses, and better visibility of borrower debt commitments".</p>
<p>Of course since 2014 APRA has also required banks to assess borrowers' repayment capacity using a minimum 7% interest rate, which is well above prevailing home loan interest rates.</p>
<p><em>This article first appeared in </em>The Daily Telegraph. </p>
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Australia's housing credit crunch impact remains the big unknown

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<p>Quiz champion Honza Mikula has listed his 37 hectare Captains Flat property. </p>
<p>Mikulov, set south of Queanbeyan, NSW, come with an 1890s mines office residence dating back to its time as the bustling copper mining site of the Lake George Mining Co.</p>
<p>The property (pictured above and below) comes with a landscape of concrete ramparts and relics of the bygone era surrounded by native forest.</p>
<p><img src="https://www.urban.com.au/images/2018/7/23/Miney.JPG" alt=""></p>
<p>John Buckley at RE/MAX Capital is taking it to <a href="https://www.realestate.com.au/property-house-nsw-captains+flat-128768402" target="_blank">September 1 auction</a>. Buckley expects the property to fetch somewhere between $600,000 and $650,000.</p>
<p>The holding, which is located on Old Mines Road, last traded in the 1960s after the liquidation of the London-based mining company.</p>
<p>Mikula has been on Rockwiz as well as Who Wants to be a Millionaire? in his pursuit of recognition as an Australian quiz champion.</p>
<p><img src="https://www.urban.com.au/images/2018/7/23/Miney%202.JPG" alt=""></p>
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Former Captains Flat mining site to go under the hammer

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<p>Perth's weak auction market continued with its weekend clearance rate stuck in the 30s.</p>
<p>Its ailing auction market has rarely captured much national attention, but next weekend sees the notorious and prestigious Peppermint Grove super block of Pankaj and Radhika Oswal go to auction.</p>
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<p>The <a id="LPlnk998012" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-residential+land-wa-peppermint+grove-202042586" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2 Bay View Road site</a> has been listed through Ray White agent Vivien Yap <a id="LPlnk350139" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-residential+land-wa-peppermint+grove-202144098" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">inconjuction with Sotheby's agent Graham Bowie</a>.</p>
<p>The partially built so-called Taj on Swan mansion was demolished under council orders in 2016.</p>
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<p>The mansion with Swan River views had sat unfinished after the Oswals quit Australia in 2010.</p>
<p>It is now being marketed as "the most famous block in Australia."</p>
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<p>Initially there was a $30 million asking price for the super block, which over the years has been subject of international media attention.</p>
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<p>The 6582 sqm site, which could fit six homes, then came with reduced $19.5 million hopes last year.</p>
<p>The Oswals bought the consolidated block for $22.7 million in 2007 and started construction a year later.</p>
<p>The Oswal family, who controlled the $700 million Burrup Fertilisers gas-processing plant on the Burrup Peninsula, planned to build a "two- storey, Indian-infused luxury residence" on the eight lots they bought from property tycoon Warren Anderson in the heart of Peppermint Grove.</p>
<p>Anderson's super block sat vacant for many years. He created it in 1986 when his company bought 11 houses and demolished most of them. It was subdivided into 22 blocks of which the Oswal bought eight for $22.7 million</p>
<p>Sydney had the dearest weekend auction result when <a id="LPlnk837609" class="x_OWAAutoLink" href="https://www.realestate.com.au/sold/property-house-nsw-burraneer-128589450" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">18 Rutherford Av, Burraneer</a> fetched $4.75 million pre-auction through estate agent David Highland. </p>
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<p>The deep waterfront 1150 sqm parcel of land came with house set over three substantial levels with expansive views over Gunnamatta Bay.</p>
<p><img src="https://www.urban.com.au/images/2018/7/23/CL%20Taj%201.JPG" alt=""></p>
<p>There were 400 auctions held in Sydney returning a preliminary auction clearance rate of 61.3 per cent. </p>
<p>Sydney's prior week saw 408 auctions held with a final clearance rate of just 46.9 per cent, the lowest clearance rate the city has seen since December 2012. </p>
<p>This time last year, 70.3 per cent of the 625 Sydney auctions held were successful.</p>
<p><img src="https://www.urban.com.au/images/2018/7/23/CL%20Taj%202.JPG" alt=""></p>
<p>Melbourne was the busiest capital city for auctions, with 612 homes going under the hammer, returning a preliminary clearance rate of 62.3 per cent, compared to last week when 56.2 per cent of the 559 auctions were successful. </p>
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<p>Over the same week last year, there were 833 auctions held in Melbourne, returning a clearance rate of 73.8 per cent.</p>
<p>Melbourne's dearest reported sale was $2.74 million in Albert Park for a three bedroom, two level modernised terrace at 18 Page Street. There had been <a id="LPlnk98320" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-vic-albert+park-128683478" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">$2.5 million to $2.7 million price guidance</a> through Greg Hocking Holdsworth. </p>
<p>The highest preliminary clearance rate was recorded in Adelaide where 75 percent of the 48 reported auctions were successful.</p>
<p><img src="https://www.urban.com.au/images/2018/7/23/CL%20Taj%203.JPG" alt=""></p>
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<p>The nation's cheapest weekend sale was in Perth where a three bedroom brick and tile home sold for <a id="LPlnk909481" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-wa-armadale-128592790" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">$165,000 at Armadale</a>, located on the south-eastern edge of Perth's metropolitan area.</p>
<p>The 1970s house has a renovated kitchen, new carpet in the bedrooms and a fresh coat of paint, Professionals Armadale selling agent Shane Denniston noted.</p>
<p>It had last sold at $270,000 in 2007 and at $185,000 in 2005.</p>
<p><img src="https://www.urban.com.au/images/2018/7/23/CL%20Taj%204.JPG" alt=""></p>
<p>Perth's 38.5 percent success rate was the weakest auction market sitting behind Brisbane's 44 percent.</p>
<p>Perth's best auction clearance rates saw a 60 percent plus peak in 2013 and before that in the 50s in 2010.</p>
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<p>Perth dwelling values were 0.7 percent over the three months to June 2018 and 2.1 percent lower over the past year. </p>
<p>Dwelling values in Perth are now 11.4% lower than they were at their peak in June 2014, CoreLogic advise.</p>
<p>The national weekend auction volumes increased slightly over the week with 1,246 homes taken to auction across the combined capital cities, up from the 1,178 in the prior week, according to CoreLogic.</p>
<p>The preliminary clearance rate was recorded at 60.6 per cent this week, after finalised clearance rates have held around 52 per cent for the last three weeks.</p>
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Taj on the Swan set for auction in ailing Perth market

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<p>In the July meeting minutes, the RBA discussed the Sydney and Melbourne housing markets decline.</p>
<p>The minutes suggested house prices had fallen by almost five percent in Sydney over the preceding year after its significant increases in previous years.</p>
<p>"Members observed that prices in Sydney and Melbourne had fallen the most for more expensive properties, while prices of lower-priced properties had been little changed, consistent with the typical pattern of larger fluctuations in prices at the higher end of the market," the minutes read.</p>
<p>"In the other state capitals, housing prices had been fairly steady, with the exception of Hobart, where prices had picked up markedly given strong demand and supply constraints."</p>
<p>The members noted that data from the national accounts suggested dwelling investment had peaked in late 2016, although residential construction cycles had differed significantly across the states.</p>
<p>"In New South Wales, dwelling investment in higher-density projects had remained at a high level since the beginning of 2016," the minutes read.</p>
<p>They said liaison contacts had suggested there were capacity constraints in Sydney, which meant that, given the large amount of work in the pipeline in New South Wales, construction activity was likely to remain at a high level for some time.</p>
<p>The minutes noted that dwelling investment in Victoria was also likely to remain at a high level for some time.</p>
<p>"Members noted that more of this activity had been in detached dwellings and that ‘greenfield’ land sites had generally been more readily available in Victoria.</p>
<p>"By contrast, the construction cycle for apartments had clearly passed its peak in Queensland, while detached housing construction in Western Australia might have reached a trough.</p>
<p>Growth in household income had remained low compared with the average of the preceding 20 years, the members suggested, with household income remaining subdued over the most recent couple of years.</p>
<p>Growth in labour income had increased to its highest rate since 2012, in line with solid growth in employment.</p>
<p>Wages growth remained low, consistent with ongoing spare capacity in the labour market and some structural forces that had also been evident in other economies.</p>
<p>To read the <a href="/expert-insights/finance/minutes-of-july-2018-monetary-policy-meeting-of-the-reserve-bank-board">full minutes click here.</a></p>
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Top end prices in Sydney and Melbourne fall the most, while little change for lower-priced properties: RBA minutes

<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

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