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Shopping centre owner and manager Centro Retail Australia will seek shareholder approval to change its name to Federation Centres.
An extraordinary general meeting will be held on January 22 and should the new name be approved, it will be progressively incorporated into the branding of its shopping centres.
The new name features a cone-shaped red ribbon as its logo.
“While the creation of a dynamic new brand is a significant step, pivotal to the new name is the use of the ribbon symbol. The ribbon signifies the delivery of a great centre experience and can be used in many creative ways,” says Centro managing director and CEO, Steven Sewell.
<img src="/images/stories/2012/12/federation.jpg">
The new name follows<a target="_blank" href="https://www.propertyobserver.com.au/retail/woolies-and-k-mart-to-anchor-centro-s-new-property-group/2011102752101"> 12 months after Centro was successfully restructured</a> as Centro Retail Australia with more than 100 hedge funds taking shares in the company as part of a $2.9 billion debt-for-equity swap that prevented the company going into administration.
According to Centro chairman Bob Edgar changing the name of Centro Retail Limited to Federation Limited “marks our many achievements over the past 12 months and our commitment to create long term value for securityholders”.
“Securityholders can have confidence in what Federation Centres stands for and how we go about managing centres for the benefit of all stakeholders.
“The name itself has been selected to reflect our business. A federation respects the individuality of its parts but also has the strength of the wider group. That is what we are - a group of strategically sited individual centres that reflect the local communities to which we provide services - while benefiting from the strength of the parent organisation,” he says.
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Centro seeks clean break with the past with name change to Federation Centres

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The message being pushed by mortgage brokers and consumer advocates that borrowers should maintain their current mortgage repayments when interest rates fall and pay off their home loans sooner has well and truly been absorbed by home owners.
Nearly seven out of 10 mortgage holders (68%) surveyed by Nielsen said their number one financial goal was to pay off their home loans, confirming the view that Australians regard owning their home outright as key for their financial future.
This is despite a home not being able to generate any income in retirement apart from when it is sold, meaning future retirees could find themselves debt-free but cash poor.
In a <a href="/news">Property Observer webinar on property and wealth-creation</a>, WHK financial adviser Peter Handberg advised investors against investing extra income in paying off their mortgages but to consider putting the money into a balanced income-generating retirement portfolio made up of a mix of shares, property, bonds and cash.
“You can’t sell a bedroom,” says Handberg.
Only 13% of the 500 borrowers surveyed by Nielsen said their top goal was to save for retirement, while just 8% said purchasing an investment property was their number one goal, confirming the savings culture in Australia highlighted in a <a href="https://www.rba.gov.au/speeches/2012/sp-dg-051212" target="_blank">recent speech by RBA deputy governor Philip Lowe</a>.
The Nielsen study was commissioned by mortgage lender Crown Lending, with chief executive Scott Parry saying results show that the overwhelming majority of Australians wanted to live debt-free.
The propensity for borrowers to make extra mortgage repayments and reduce their home loans comes as banks earn billions more by not passing on interest rate cuts in full.
Following last week’s 25-basis-point rate cut by the RBA, all the major banks and their subsidiaries passed on 20 basis points, increasing their interest margin buffer by a further five basis points.
Notwithstanding the propensity of making prepayments, Mark Lewis, chairman of Adelaide mortgage broker Bernie Lewis, says that in the last five years borrowers have paid $18 billion extra in interest on their home loans due to banks not passing on the RBA interest rate cuts in full.
The banks say higher funding costs and a need for them to raise more expensive funding from retail deposits mean they cannot afford to pass on rate cuts in full anymore.
Lewis says while he agrees “on a grassroots level” that banks are not obliged to move in lockstep with the RBA, he does not buy their funding excuses, which he calls a “bitter pill” for borrowers to swallow as banks continue to generate record profits.
“The gap between the Reserve Bank cash rate and the average standard variable interest rate of the four major banks has nearly doubled since 2007 [from 1.8 percentage points in 2007 to roughly 3.4 percentage points currently]," he says.
 
<hr class="system-pagebreak">
 
According to Ratecity.com.au, the average standard variable rate across the lenders on its panel in November was 6.62% compared with a cash rate of 3.25% - a difference of 3.37 percentage points.
Assuming that lenders pass on 20 basis points on average – the average standard variable rate would reduce to 6.42% with the cash rate at 3% - a difference of 3.42 percentage points.
Lewis says that despite the RBA’s “emergency” cash rate setting, the increased margins of the banks means the cash rate would need to fall to 2% to have any impact – a fact acknowledged by Philip Lowe, when he said in the same recent speech, that the cash rate was currently 1.5 percentage points lower than it would otherwise be due to bank mortgage rates no longer moving “in near lock step with the cash rate”.
Despite their being better deals on offer through alternative lenders, Lewis says many borrowers appear apathetic to the fact that they are paying more than the need to on their home loan while banks are more than happy to take the extra cash and add it to their bottom line profits.
“You could argue that they have the right to increase, but the other thing that comes into play is the lack of competition in the market. With reduced competition comes lazy banks and a growth in margin,” Lewis says.
Banks have also been gouging extra interest payments from borrowers by the length of time they are taking to pass on rate cuts.
ANZ and Westpac combined are expected to generate more than $53 million in interest by being the last of the big four to pass on the RBA’s cash rate cut, with economists estimating that the major banks earn around $2 million for each day they withhold passing on the rate cut, according to Australian Broker online.
Westpac will pass on 20 basis points on December 17 – a full 13 days after the RBA announced its rate cut, while ANZ borrowers must wait until Friday to hear how much it will pass on as part of its independent rate review with borrowers likely to have to wait at least a week further for any rate cut to take effect (December 21).
The Commonwealth Bank and NAB passed on their 20 basis point rate cuts on December 10, earning an extra $14 million each by delaying the rate cut reaching borrowers.
Only <a href="https://www.propertyobserver.com.au/news/yellow-brick-road-passes-on-the-full-25-bps-reduction/2012120558313?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">Yellow Brick Road</a> and <a href="/news">ING Direct</a> have passed on the full 25 basis points to borrowers.
Yellow Brick Road’s rate took effect on December 10, but ING Direct borrowers must wait until Christmas Eve (21 days after the RBA decision) to benefit from lower repayments.
 
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Australians focused on paying off home loans, not retirement savings, while banks earns billions more in interest payments

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Eight regional centres scattered across NSW, Victora, Queensland and WA – not all of them tied to the mining boom – will present property investors with the best opportunities for capital growth in 2013, according hotspotting.com.au’s Terry Ryder.
In a <a href="/news">Property Observer</a><a href="/news"> webinar</a>, Ryder said the growth seen over 2012 had been “primarily seen in the regions” with some “good growth” in Darwin and “to a lesser extent” in Perth.
“But the places producing double digit growth are all in the regions,” he says.
Regional locations, Ryder says, give investors the opportunity to buy at more affordable prices and have very good prospects for growth, “as long as you pick the right ones”.
According to Ryder, these are the eight regional locations investors should take a look at:
<a href="/news">Albury </a>/<a href="/news">Wodonga </a>(NSW/Victoria) <img src="/images/stories/2012/12/ryderslide1.jpg">
 
<hr class="system-pagebreak">
 
 
<a href="/news">Dubbo </a>(NSW)
<img src="/images/stories/2012/12/ryderslide2.jpg">
 
<hr class="system-pagebreak">
 
<a href="/news">Toowoomba </a>(Queensland)
<img src="/images/stories/2012/12/ryderslide3.jpg">
 
<hr class="system-pagebreak">
<a href="/news">Mount Isa</a> (Queensland)
<img src="/images/stories/2012/12/ryderslide4.jpg">
 
<hr class="system-pagebreak">
<a href="/news">Bendigo </a>(Victoria)
 
<img src="/images/stories/2012/12/ryderslide5.jpg">
 
<hr class="system-pagebreak">
<a href="/news">Mudgee </a>(NSW)
 
<img src="/images/stories/2012/12/ryderslide6.jpg">
 
<hr class="system-pagebreak">
<a href="/news">Mackay </a>(Queensland)
 
<img src="/images/stories/2012/12/ryderslide7.jpg">
 
<hr class="system-pagebreak">
<a href="/news">Geraldton </a>(WA)
 
<img src="/images/stories/2012/12/ryderslide9.jpg">
Click on the following pages for details on each location. The entire webinar can be listened on  <a href="/news">Property Observer.</a>
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Terry Ryder's eight regional hotspots for 2013: The key webinar slides

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Collapsed Victorian non-bank lender Banksia Securities Limited may have traded and written new loans whilst insolvent, according to a creditors report from receivers McGrath Nicol, which attributes its collapse in part to high-risk loans secured against rural property and land that had not received development approval.
The report paints a picture of a poorly managed business, which at the time of its collapse had an equity to debt ratio of just 3.5%, around $146 million of loans in arrears, but was still writing new loans up until the end of September.
The non-bank lender was profitable in the past three years – though profits had declined from $2.8 million in 2010 to $881,000 in 2012 - but it had underestimated bad debts by about $34 million.
The receivers have made their first distribution to debenture holders representing 20 cents for every dollar invested and have estimated a total repayment to debenture holders of between 50 and 65 cents in the dollar.
The first distribution was made from cash holdings of around $136 million.
A second distribution of between 5 cents and 10 cents in the dollar is expected to be repaid by June 30.
<a target="_blank" href="https://www.propertyobserver.com.au/industry-news/victorian-non-bank-lender-banksia-securities-collapses/2012102657456">Banksia, incorporated in 1968 collapsed in October</a> putting $660 million of small investor debenture funds at risk.
Over 16,000 small investors invested in Banksia’s fixed interest debenture funds.
The receivers report that due to a current lack of liquid assets they can make no immediate repayments to investors in a smaller Banksia-managed fund, Cherry Fund Limited, which began in 2003 and raised $10 million, but estimate a future return of 55 cents to 70 cents in the dollar.
“From our analysis of Banksia’s loan book…it is clear that the company is insolvent and may have been insolvent for some time prior to our appointment,” report McGrath Nicol joint receivers Tony McGrath, Joseph Hayes, Matthew Caddy and Robert Kirman.
They add that Banksia was “thinly capitalised throughout the period examined with an equity ratio of approximately 3.5%” and was exposed to “immediate solvency concerns in the event of even minor losses on its loan portfolio”.
The report notes that there was a “decrease in cash from 30 June 2012 to 30 September 2012” due to Banksia advancing funds to third party borrowers as loans (increasing its loans receivable)”.
“These loans were made in the ordinary course of business” with the report noting that while Banksia raised much of its money through its nine office regional Victoria branch network, it used mortgage brokers to source borrowers throughout Australia.
At the same time as Banksia was advancing loans, the report notes that “in broad terms if more than 3.5% of total assets were unrealisable as at 30 September 2012, the company would have insufficient resources to meet its total obligations to debenture holders”.
Among the matters being investigated by McGrath Nicol receivers is whether the directors traded the companies at a time when they were insolvent or likely to become insolvent; whether there were any uncommercial transactions entered into with related or unrelated parties; and whether company directors and officers complied with their statutory obligations “to exercise care and diligence, discharge duties in good faith and avoid conflicts of interest”.
The receivers report that at the time of their appointment, Banksia’s main asset was its loan portfolio totalling approximately $527 million.
This consisted of a portfolio of 956 loans made to third party borrowers throughout Australia and being generally secured by first ranking real property mortgages.
The bulk of the lending was done in Victoria ($260 million, 548) followed by NSW ($167 million, 243 loans), South Australia ($50 million, 94 loans) and Queensland ($48 million, 56 loans).
Just over a quarter (28%) of loans in the Banksia portfolio were in arrears with 6% of loans in the Cherry Fund portfolio also arrears.
However, the receivers note that while the remainder of the companies’ loan books are classified as performing, “we understand that a number of loans are subject to capitalised interest (or interest funded with the facility)”.
“Once capitalised facilities are fully expended, this may lead to further loans entering into arrear.”
The receivers attribute the collapse of the non-bank lender as due to relatively high risk lending to borrowers where the underlying security property is “in a rural or regional location (where the general decline in the domestic property market has been most significant)”.
In addition, loans were advanced for vacant land that in some cases had not yet received development approval and so did not generate an income stream to support interest/loan repayments.
Other reasons for its collapse were high levels of loan arrears (around $146 million), a substantial number of mortgagee in possession properties (around $112 million), low equity levels as well as global credit and property market conditions making it harder for borrowers to refinance upon maturity of their loans.
The receivers will hold an information session for debenture holders in Kyabram, Shepparton and Ballarat on Friday (December 14).
Debenture holders need to register their interest in attending by calling 1800 722 079.
The information sessions will also be webcast on the McGrathNicol (www.mcgrathnicol.com) and BSL (www.banksiagroup.com.au) websites.
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Banksia may have traded and written loans while insolvent: receivers

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The federal government appears happy to allow the state governments of NSW and Queensland to break their commitment to offer “universal” first-home owner grants following the two states' decisions earlier this year to only incentivise new home purchases.
Since September 12 in Queensland and October 1 in NSW, first-home owners qualify for a $15,000 state government handout if they buy or build a new home.
First-home buyers who purchase an existing home receive nothing.
These decisions, aimed at stimulating the residential construction sector, are in clear contravention of state government commitments to provide a “universal” first home owner schemes (FHOS) to all buyers".
This looks set to change with the <a href="https://www.gstdistributionreview.gov.au/content/Content.aspx?doc=reports/finaloctober2012/00executivesummary.htm#P130_11433" target="_blank">GST Distribution Review Final Report </a>released at the end of November recommending that the states be relieved of their obligation to offer a universal FHOS grant.
“It should become a matter for States’ own policy decisions as to what financial assistance should be offered for new home buyers,” says recommendation 11.4.
It is now up to federal treasurer Wayne Swan to make consult with the states before making his final decision.
However, the states have not had any kind of reprimand, despite offering an incentive that has been called nothing more than a “builders incentive” and flying in the face of logic, given that a higher proportion of first-home buyers wish to buy an existing home than a new home.
This iss borne out in the latest Mortgage Choice consumer survey, which found that more than 47% of first-home buyers looking to purchase in the next two years are looking to buy an existing property with less than a quarter (22%) considering building or buying a new – the remainder are undecided.
In response to a number of questions from Property Observer a spokesperson for the Federal Treasurer’s office said that “regrettably” there was not much that could be said.
Property Observer had asked what is the Treasury’s position was on NSW and Queensland breaching their obligations by adopting these new grant arrangements and whether the Treasury accepted the view that these have become “builders grants” not a first-home buyers grant?
Instead, Property Observer was directed to the following paragraph in the media release issued following the release of the GST Distribution Review Final Report.
“I look forward to discussing the Panel's recommendations with State and Territory Treasurers at the Standing Council on Federal Financial Relations meeting on 17 December 2012, prior to announcing the Commonwealth's position once the Government has given thorough consideration to the complex issues addressed by the Report,” said Wayne Swan.
Speaking to Property Observer in November, Ray White chairman Brian White said the new grants were distorting the market “and not in a healthy way".
“It’s no longer a first-home buyer’s grant but a builder’s incentive,” said White who labelled it deceitful to describe it as a first-home buyer’s grant.
His comments follows the <a href="https://www.propertyobserver.com.au/news/reia-says-all-first-home-buyers-should-get-the-fhbg-not-just-those-buying-new-homes/2012102557430">Real Estate Institute of Australia (REIA) voicing concern</a> at the decisions by the NSW and Queensland governments as well as plans by South Australian government to end its $7,000 universal first-home owner grant in June 2014.
"Not only is this in breach of the InterGovernmental Agreement (IGA) but it ignores the evidence that 70% of first-home buyers have a clear preference for established houses,” said REIA president Pamela Bennett.
“The IGA clearly states that assistance to first-home buyers will be uniform and that an eligible home will be new or established.
Bennett also claimed that first home buyers of established homes “often embark on a program of home-improvement and renovation, which helps stimulate the building sector”.
WA, Victoria, Tasmania, the ACT and the Northern Territory continue to offer a universal $7,000 first-home owner grant.
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Wayne Swan set to assist NSW and Queensland push towards 'builders' first-home owner grants

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<img src="/images/stories/2012/12/folkestone.gif">
Greg Paramor is the managing director of property funds manager and developer Folkestone and is the former chief executive of Mirvac. Known for his Midas touch in commercial real estate, he has a long, deep involvement in the sector both as a developer and fund manager dating back to the 1970s. He is currently steering Folkestone into social infrastructure investments and tells Property Observer joining a syndicate investing in a fully let office building with a high yield and a strong tenant would be a good way to spend $750,000.
<img src="/images/stories/2012/12/gregparamor.png" style="margin: 5px; float: left;">
How long have you been in the industry?
My involvement began in 1972 when I joined a company which later became Knight Frank in Perth. I was involved in commercial leasing, but in those days I was more of a generalist than specialist. I was involved in the development of regional shopping centres, offices (a 32-level office was considered large back then) and industrial work.
In 1979, I joined Dick Lester and did development work in retail, commercial, a new development in Karratha, residential, industrial and fast foods.
I started Growth Equities Mutual in 1981 and grew it into one of the largest unlisted property trusts worth around $1.5 billion. I sold out of that and started Paladin Australia with Rod Leaver in 1994, a mainly funds management business, which we built up and sold to Deutsche Bank in 2000. I co-founded the James Fielding Group in 2001, which became Mirvac in 2004. I was CEO of Mirvac until 2008. I became managing director of Folkestone in March last year.
What’s happening in the area you specialise in?
We are always looking for gaps in the market, and areas that interest me include social infrastructure. In October Folkestone won control of Austock’s $555 million property platform, made up primarily of childcare centres, as well as Victoria government police stations and law courts. The amount of infrastructure required right throughout Australia is huge. But there is no money around. There is an opportunity for us able to provide solutions. We are also looking at other areas of healthcare such as aged care. The other focus is on residential sub-divisions and units. We are also involved in syndicating income producing assets.
Describe the most interesting property development or transaction you have been involved in.
That would be the floating of the Paladin Southgate trust (holder of the Southgate centre at South Bank, Melbourne). It was the largest float in 1995. That was a big catalyst for the commercial trust, and we did very good things after that including merging with Dexus. It was very exciting but also very tough as we were at the behest of the capital markets. We completed the deal on December 22, 1995, which proves you can do things in December. It grew to become the 10th largest fund in six years.
 
What are the ingredients to being successful in your job?
I have started many things from scratch, and it feels like a very steep hill at first and you are not sure how you will get there. You put one foot up at a time to get to the summit - if you try to sprint, you will run out of breadth. Be patient and be persistent, wait till investors are comfortable with you and make sure you have the right product.
What aspects of your role do you enjoy the most?
I love creating things. I love the property part and fund management part, dealing with investors. I enjoy watching staff develop and grow into their roles so they are better at what they do than when they walked in. I find it fascinating, interesting and challenging. 
Where would you invest a spare $750,000?
I think investing in a syndicate like our <a href="https://www.folkestone.com.au/folkestone-real-estate-income-fund-at-sydney-olympic-park/" target="_blank">Sydney Olympic Park fund</a>, which is a fully let office building with an 8.1% yield and a strong tenant. I always like to do development work, which is the icing on the cake. I am involved in an apartment development in Melbourne. It’s a tough market, but we are getting there with 94% sold out by value. I also like the social infrastructure space, where yields are very good. 
Which football team do you support?
I am on the board of the Sydney Swans and went to the grand final victory last year.
What’s your favourite app or techno gadget?
I have an iPhone and an iPad, which I guess are essential for life these days. I also chair LJ Hooker, and they <a target="_blank" href="https://itunes.apple.com/au/app/lj-hooker/id380533661?mt=8">have a good app</a>, I like using <a target="_blank" href="https://itunes.apple.com/au/app/tripview-sydney/id294730339?mt=8">Sydney tripview</a> (displays Sydney train/bus/ferry timetable data on your phone). 
How do you use social media?
I don’t really use it except to get my wife to check out the Facebook pages of my sons to see how they are doing if I don’t hear from them in a while – they live overseas.
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In profile: Folkestone managing director Greg Paramor

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The Greater Building Society has cut its standard variable home loan and basic variable home loan rates by 20 basis points to 6.05% p.a (comparison rate of 6.11%) and 5.69% (comparison rate of 5.75%) respectively.
The Newcastle-based mutual lender has passed on the full rate cut to package home loan borrowers with their rate falling to 5.49% (comparison rate 5.85%).
The reduced variable rates take effect from December 15.
The Greater’s standard variable rate is 0.37 percentage points below the average of the rates of the major four banks (assuming ANZ also reduces its rates by 0.20 per cent next Friday).
“Under the new rates, a person taking out a 30 year $300,000 Greater Building Society standard variable home loan would be $82,000 better off than someone taking out the same loan with Westpac,” says Greater CEO Don Magin
“For little effort you can save thousands of dollars off your loan, that is a pretty hefty pay packet,” he says.
“People are throwing their hard earned money away by not switching and switching is easier than most people think.”
Customers on a 30 year standard variable or basic home loan of $300,000 will see their monthly repayments reduce by $39.
The building society is encouraging borrowers to maintain their current payments and use the rate cut to get ahead on their home loan and pay it off sooner.
The Greater recently surveyed 100 of its customers and 98% indicated they were maintaining their repayments when rates were cut.
A Greater borrower who hasn’t changed their payments since rates fell in May has saved themselves approximately $140,000 in interest over the life of their loan and will repay it six years earlier.
Property Observer readers can get great refinancing tips from two free webinars we have run this year: <a href="/news">How smart property buyers and investors should approach refinancing in the current environment</a> and,<a href="/news">The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles</a>.
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Greater Building Society cuts standard variable rates by 20 basis points to 6.05%

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NSW prospective buyers have the greatest appetite for off-the-plan apartments and house and land packages, according to the latest consumer sentiment survey by Mortgage Choice.
Mortgage Choice surveyed 1,025 customers of which around 400 said they would like to buy a property in the next two years.
Of these who intend to make a purchase over this time frame, buying an existing property remains the choice of at least one in two prospective buyers (50.6%) with just over one in 10 looking to buy a newly built home and around one in twenty looking to either buy an apartment off-the-plan or buy land to build their first home. 
A high proportion of prospective buyers (27.8%) remain undecided between existing and new property.
<table border="1" cellspacing="0" cellpadding="0" width="379"><tbody>
<tr>
<td width="95" nowrap valign="top"></td>
<td width="70" nowrap valign="top">
National
</td>
<td width="59" valign="top">
NSW
</td>
<td width="57" valign="top">
VIC
</td>
<td width="56" valign="top">
QLD
</td>
<td width="41" valign="top">
WA
</td>
</tr>
<tr>
<td width="95" valign="top">
Existing property
</td>
<td width="70" nowrap valign="top">
50.6%
</td>
<td width="59" nowrap valign="top">
48.1%
</td>
<td width="57" nowrap valign="top">
53.3%
</td>
<td width="56" nowrap valign="top">
48.1%
</td>
<td width="41" nowrap valign="top">
53.1%
</td>
</tr>
<tr>
<td width="95" valign="top">
Newly built property
</td>
<td width="70" nowrap valign="top">
12.2%
</td>
<td width="59" nowrap valign="top">
12.0%
</td>
<td width="57" nowrap valign="top">
11.5%
</td>
<td width="56" nowrap valign="top">
14.3%
</td>
<td width="41" nowrap valign="top">
12.4%
</td>
</tr>
<tr>
<td width="95" valign="top">
Off the plan property
</td>
<td width="70" nowrap valign="top">
5.5%
</td>
<td width="59" nowrap valign="top">
8.9%
</td>
<td width="57" nowrap valign="top">
3.6%
</td>
<td width="56" nowrap valign="top">
2.6%
</td>
<td width="41" nowrap valign="top">
7.2%
</td>
</tr>
<tr>
<td width="95" valign="top">
Land to build a property on
</td>
<td width="70" nowrap valign="top">
4.0%
</td>
<td width="59" nowrap valign="top">
5.1%
</td>
<td width="57" nowrap valign="top">
2.4%
</td>
<td width="56" nowrap valign="top">
5.2%
</td>
<td width="41" nowrap valign="top">
3.8%
</td>
</tr>
<tr>
<td width="95" valign="top">
Unsure yet
</td>
<td width="70" nowrap valign="top">
27.8%
</td>
<td width="59" nowrap valign="top">
25.9%
</td>
<td width="57" nowrap valign="top">
29.1%
</td>
<td width="56" nowrap valign="top">
29.9%
</td>
<td width="41" nowrap valign="top">
23.4%
</td>
</tr>
<tr>
<td width="95" nowrap valign="top"></td>
<td width="70" nowrap valign="top"></td>
<td width="59" nowrap valign="top"></td>
<td width="57" nowrap valign="top"></td>
<td width="56" nowrap valign="top"></td>
<td width="41" nowrap valign="top"></td>
</tr>
</tbody></table>
 Demand for established homes is highest among prospective buyers from Victoria and WA, the survey shows and lowest in NSW and Queensland – two states where the state government is incentivising first-home buyers to build or buy new homes.
Among those looking buy, nearly one in 10 in NSW (8.9%) are looking to buy off-the-plan, the highest percentage of all the major states followed WA (7.2%), Victoria (3.6%) and Queensland (2.6%).
Around one in 20 prospective buyers in NSW and Queensland are looking to buy land to build a new house on, according to the survey.
Demand for land is weakest Victoria with just 2.4% of Victorian prospective buyers looking to buy residential land on the fringes to build their home.
This result will send further alarm bells ringing among Victorian developers following September quarter findings of the National Land Survey Program, which found that <a target="_blank" href="https://www.propertyobserver.com.au/land/one-in-three-melbourne-residential-lots-being-returned-to-developers-by-building-firms-report/2012112958179">30% of Melbourne land is being returned by builders.</a>
Of those who intend to buy over the next two years, almost one third (30%) will be first homebuyers, 25% are looking to buy their next home and a very proprtion - 45% - will be investors.
“This investor confidence is very good news. With interest rates the lowest they have been for some time and property prices remaining subdued in parts of the country it is clear from the research that many investors feel that this presents a good buying environment in Australia,” says Mortgage Choice spokesperson Belinda Williamson.
 
Other key statistics to emerge from the survey include: 
 
<ul>
<li>
Rental squeeze: 39% of consumers feel tighter rental vacancy rates and/or rising rents is having an effect on property prices in their state and on them personally. </li>
</ul>
<ul>
<li>
Property prices: 34% of those surveyed believe Australian property prices will increase over the next 12 months, 16% believe they will decrease, 34% believe prices will remain stable and 16% don’t know. </li>
</ul>
 
<ul>
<li>
The property purchase process: When asked how well informed respondents were about the property purchase process, 19% were well informed, 33% know the essentials, 35% have some idea and 14% have no idea.  
</li>
</ul>
 
<ul>
<li>
The switch to fixed: 45% of mortgage holders will consider switching to a fixed term loan when lenders’ fixed rates fall below 5%.</li>
<li> Using a mortgage broker: 65% of respondents will consider using a mortgage broker in the future.</li>
</ul>
</body></html>

Appetite for new properties strongest in NSW: Mortgage Choice survey

<html><body>
The struggling prestige end of the residential market is expected to be boosted by the federal government’s new fast-track investor visa aimed at bringing in capital from wealthy Asian immigrants.
The new Significant Investor Stream Visa requires an investment of at least $5 million in state/territory bonds; an ASIC regulated managed investment fund; or, a direct investment in an Australian company, which would include investments in commercial property backing a business such as a hotel, lodge or other tourism business.
The visa allows immigrants to skip over skilled migration requirements such as being proficient in English while requiring that immigrants only spend a minimum of 40 days a year in Australia over the four-year visa period.
There is also no upper age limit and the main applicant does not have to meet the business points test.
Such investors are also likely to require somewhere to live and may have further funds to invest in both the residential and commercial property market.
According to Sandie Dunne, who runs prestige property specialist Dunne Mosman on the Sydney lower North shore, the new legislation is already having an impact with “several local top end sales under negotiation”.
“There has been a rise in enquiry for high priced properties which have languished on the market for a while," she says.
According to Dunne, even a handful of new buyers from this source will make a difference and bring back confidence in the sector.
“Hopefully we will see sellers listing their properties in the New Year,” she says.
Rob Forde, CEO of Harcourts NSW, sees benefits not just to the top end market but the economy in general, with flow on effect across a number of markets.
“High net worth investors will generally have sound entrepreneurial and business experience which will help to further drive the economy. There are requirements for the investors after their purchase to spend at least 40 days per year in Australia for the time they hold the visa, helping to contribute to local economy.
“Regardless, if the investors stay in Australia they will continue to pay taxes on their Australian property (stamp duty, rates and land tax), which will help in the continued development of infrastructure and contribute towards state budgets which are in need of increased revenue,” Forde says.
The launch of the visas late last month has triggered interest from Asian-based commercial property investors.
CBRE Hotels’ Wayne Bunz and Mullins Lawyers’ Curt Schatz and Tony Hogarth have been advising numerous Asian based investors who have shown keen interest in the hotel market since the introduction of the visas was mooted earlier this year.
They expect further movement by a number of those parties in the hotel investment sphere in 2013.
“The purchase of a hotel, hotel resort or an island with tourist facilities, for example, would be a qualifying business, whereas an investment in vacant land to be held for long term capital gain or rental property might not comply,” says Bunz
“A number of Chinese groups have inspected assets we have had on the market in recent months, many of whom have watched with keen interest to see the final form of the Significant Investor Visa. We are expecting significant interest in this visa from investors considering the Day Dream Island Resort and Spa.”
Foreign investment review board (FIRB) requirements must still be met. However, most commercial enterprises have a substantial financial threshold (currently $244 million) before requiring FIRB approval.
The extent of the threshold varies in some instances, depending upon the specific nature of the proposed investment and the nationality of the investor. Americans have a higher threshold than other nationalities (currently $1.062 billion for most investments).
Tony Hogarth, who is also a registered migration agent say it is significant that English language is not a requirement for these visas
“This is likely to open up the Australian market to Chinese investors in particular, where language skills may have been a prohibitive factor in the past.”
Further information on the visa can be found at the Department of Immigration, which provides <a href="https://www.immi.gov.au/skilled/business/_pdf/significant-investor.pdf" target="_blank">this summary.</a>
</body></html>

New ‘golden ticket’ visas to help recovery in prestige Australian residential markets

<html><body>
The dust is starting to settle on the Reserve Bank’s decision to cut the cash rate by 25 basis points this week to 3% – the lowest it has been since September 2009.
Most lenders have announced their decisions, with cuts ranging from 20 basis points to the full 25 and with these new rate cuts kicking in between December 10 and December 24.
Unlike previous decisions, the three major banks that still take their cue from the RBA – NAB, Commonwealth Bank and Westpac – have been relatively quick in announcing decisions to pass on 20 basis points to variable rate mortgage holders, all doing so by Wednesday afternoon.
As a result, NAB continues to offer the lowest standard variable of the big four at 6.38%, followed by Commonwealth Bank at 6.40% and Westpac at 6.51%.
<table border="1" cellspacing="0" cellpadding="0" style="width: 470px;"><tbody>
<tr>
<td width="139" valign="top">
 
</td>
<td width="107" valign="top">
Date new rate kicks in
</td>
<td width="125" valign="top">
Standard variable rate
</td>
<td width="118" valign="top">
Three-year fixed rate
</td>
</tr>
<tr>
<td width="139" valign="top">
NAB
</td>
<td width="107" valign="top">
Dec 10
</td>
<td width="125" valign="top">
6.38%
</td>
<td width="118" valign="top">
5.49%
</td>
</tr>
<tr>
<td width="139" valign="top">
CBA
</td>
<td width="107" valign="top">
Dec 10
</td>
<td width="125" valign="top">
6.40%
</td>
<td width="118" valign="top">
5.54%
</td>
</tr>
<tr>
<td width="139" valign="top">
Westpac
</td>
<td width="107" valign="top">
Dec 17
</td>
<td width="125" valign="top">
6.51%
</td>
<td width="118" valign="top">
5.59%
</td>
</tr>
<tr>
<td width="139" valign="top">
ANZ
</td>
<td width="107" valign="top">
??
</td>
<td width="125" valign="top">
6.60%
</td>
<td width="118" valign="top">
5.54%
</td>
</tr>
</tbody></table>
Source: bank websites
The only difference is the timing of the rate cuts, with NAB and the Commonwealth bank’s new variable rates kicking in on December 10 and Westpac borrowers having to wait an extra week.
Bank-bashers will argue Westpac is cashing in at the expense of borrowers by delaying passing on the rate cuts – the big four banks earn an estimated extra $50 million collectively for every day they don't pass on a rate cut.
ANZ borrowers have a longer wait, with the bank making its independent rate review decision on Friday, December 14 – and most likely also passing on 20 basis points to borrowers, meaning a standard variable rate of 6.4%.
Rate cuts are catalysts for many borrowers to reassess their current mortgage and consider refinancing with a more suitable lender, often offering a lower interest rate – a 25-basis-point reduction on a $300,000 home loan over 25 years equals monthly repayment savings of around $50.
The federal government’s ban on exit fees also makes it cheaper to switch lenders, but borrowers should bear in mind that it only applies to variable mortgages dating from July 1, 2011 and does not apply to fixed rate home loans, which still carry hefty exit fees in most cases in the thousands of dollars.
Nevertheless, around one in five borrowers (according to Mortgage Choice figures) are still choosing to refinance into a fixed-rate loan, with one-year fixed rates currently starting from below 5% and three-year fixed rates just over 5%. There is also the option to split your loan between fixed and variable mortgages.
 
<hr class="system-pagebreak">
 
Borrowers should bear in mind that while a fixed rate loan can provide some peace of mind if rates start rising, they can prove a major headache if they continue fall, as <a href="/news">happened  around September 2008</a>, when the average three-year fixed rates was 8.75% but then followed a period of steep variable rate cuts, leaving fixed-rate borrowers paying an enormous premium, while variable borrowers enjoyed rates as low as 5.75%.
Mortgage comparison websites such as <a target="_blank" href="https://www.ratecity.com.au">ratecity.com.au,</a> <a target="_blank" href="https://www.mozo.com.au">mozo.com.au</a> and <a target="_blank" href="https://www.infochoice.com.au">infochoice.com.au</a> are a good way to get a sense of the range of rates being offered in the market place by a variety of lenders, but bear in mind that they may not compare all the advertised rates available and always consider the comparison rate, which is the rate inclusive of fees and charges.
Average standard variable rate vs three-year fixed rates over 2012
<table width="200" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td valign="bottom" nowrap width="64">
 
</td>
<td valign="bottom" nowrap width="64">
SVR
</td>
<td valign="bottom" nowrap width="16">
 
</td>
<td valign="bottom" colspan="2" width="56">
3yr Fixed
</td>
</tr>
<tr>
<td nowrap width="64">
1-Jan
</td>
<td nowrap width="64">
7.30%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
6.38%
</td>
</tr>
<tr>
<td nowrap width="64">
1-Feb
</td>
<td nowrap width="64">
7.30%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
6.38%
</td>
</tr>
<tr>
<td nowrap width="64">
1-Mar
</td>
<td nowrap width="64">
7.39%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
6.34%
</td>
</tr>
<tr>
<td nowrap width="64">
1-Apr
</td>
<td nowrap width="64">
7.39%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
6.48%
</td>
</tr>
<tr>
<td nowrap width="64">
1-May
</td>
<td nowrap width="64">
7.40%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
6.45%
</td>
</tr>
<tr>
<td nowrap width="64">
1-Jun
</td>
<td nowrap width="64">
7.04%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
6.14%
</td>
</tr>
<tr>
<td nowrap width="64">
1-Jul
</td>
<td nowrap width="64">
6.82%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
6.12%
</td>
</tr>
<tr>
<td nowrap width="64">
1-Aug
</td>
<td nowrap width="64">
6.82%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
5.94%
</td>
</tr>
<tr>
<td nowrap width="64">
1-Sep-
</td>
<td nowrap width="64">
6.82%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
5.92%
</td>
</tr>
<tr>
<td nowrap width="64">
1-Oct
</td>
<td nowrap width="64">
6.82%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
5.73%
</td>
</tr>
<tr>
<td nowrap width="64">
1-Nov
</td>
<td nowrap width="64">
6.62%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
5.54%
</td>
</tr>
<tr>
<td nowrap width="64">
1-Dec
</td>
<td nowrap width="64">
6.62%
</td>
<td nowrap width="16"></td>
<td colspan="2" width="56">
5.54%
</td>
</tr>
<tr>
<td valign="top" colspan="4" width="192">
 Source: Ratecity.com.au
</td>
</tr>
</tbody></table>
Borrowers should also bear in mind that standard variable rate offerings of the major banks are only headline rates with all the banks offering rate discounts to borrowers who qualify or for their packaged home loan offerings, which can include things like a credit card, an offset account and a transaction account.
Westpac pointed out in its rates announcement that packaged home loan borrowers get a 70-basis-point discount of the standard variable rate mean – a rate of 5.81% from December 17.
Borrowers may also be able to negotiate individual discounts with their bank manager or lender, particularly if they are borrowers of good standing and can present the research showing the cheaper alternatives available in the market place.
Borrowers happy to refinance outside the major banks or their subsidiaries may qualify for variable rate as low as 5.22% offered by loans.com.au, the online offering of non-bank lender FirstMac.
Alternatively UBank, the online home loan and savings arm of NAB, is offering a refinancing variable rate of 5.47%, meaning borrowers can take comfort that they still have the backing of a major bank.
Of course a lower interest rate should not be the soul consideration when refinancing though it can be a good starting point.
Rather refinancing into a loan suited to your financial needs and goals is much more important and speaking to a reputable ASIC-licensed mortgage broker may help in wading through the various fixed and variable offerings in the market.
Credit laws require that mortgage brokers recommend loans that are “not unsuitable”, must provide explanations for their recommendations and disclose all commissions they receive.
 
<hr class="system-pagebreak">
The major bank subsidiary brands have also passed on 20 basis points leaving their standard variable rates as follows: BankWest (6.39% from December 18); St.George Bank (6.49% from December 17) and Bank of Melbourne (6.40% from December 17).
Bank of Melbourne is also promising to beat the variable home loan rate offerings of the big four banks – including its banking parent Westpac – in an effort to separate out the challenger bank brands from the big four in the minds of consumers.
Online bank ING Direct is the only major banking brand to pass on the full rate cut, offering an eye-catching 5.72% on its most popular Mortgage Simplifier variable rate product, but with the caveat that the new rate only kicks in on December 24 while recent APRA banking figures show the Dutch-based lender slowing down its provision of new mortgage considerably in the past year.
Other lenders to have passed on the full rate cut include Yellow Brick Road – with funding from Macquarie group – offering a rate at 5.25% per annum for the first year and as low as 5.54% over the remaining life of its Empower loan.
Credit unions and building societies also offer low rate home loans and a different customer proposition, given they are mutual lenders and are not driven by a need to maximise shareholder returns.
CUA, one of the biggest mutual lenders cut its variable rates by 20 basis points and is offering a new standard variable rate of 5.85% from December 13, which is 62 basis points lower on average than what the major banks are offering.
Another of the bigger mutual lenders, Heritage Bank (formerly Heritage Building Society) has cut variable home loan interest rates by 20 basis points to offer a standard variable interest rate of 6.14%, effective from December 14.
Property Observer readers can get great refinancing tips from two free webinars we have run this year: <a href="/news">How smart property buyers and investors should approach refinancing in the current environment</a> and, <a href="/news">The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles</a>.
 
</body></html>

Getting through the mortgage maze: Chasing the lowest rates as most lenders pass on partial cash rate cut

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

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

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

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Larry Schlesinger

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