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The Australian Bankers’ Association (ABA) has defended the past decisions by its banking members not to pass on cash rate cuts in full in a seemingly pre-emptive advisement ahead today’s forecast 25 basis point rate cut by the RBA.
Banks are expected to pass on around 20 basis points to borrowers with a now familiar consumer, media and political backlash likely to follow.
Ahead of today's announcement, Steven Münchenberg, chief executive of ABA, says the Reserve Bank has ttself acknowledged that funding costs have increased by 50 basis points over the past year, with banks absorbing some of this increase themselves.
“The Reserve Bank understands the cash rate is just one component of the true cost of banks’ funding and therefore does not expect banks and other lenders to exactly match every cash rate movement,” says Münchenberg.
“The Reserve Bank Board takes into account what borrowers are actually paying in the marketplace for loans and what they are receiving on deposits when making their decision.”
“Banks are facing higher funding costs mainly due to the competitive rates being paid on deposits.”
Münchenberg says customers should shop around for the best home loan deal, pointing out that banks routinely offering discounts of around 70 basis points off the advertised standard variable rate to approved customers.
However, he failed to explain how banks can offer these discounts in a higher funding-cost environment.
Münchenberg said that prior to the GFC, term deposits were priced on average 200 basis points below the cash rate. Now, they are 20 basis points above the cash rate.”
“While interest rates on deposits remain attractive and competitive for savers, when combined with the cost of wholesale funding, deposits continue to put pressure on the overall cost of funds for banks.”
He pointed to the most recent Statement on Monetary Policy, where the Reserve Bank noted that “bank funding costs – relative to the cash rate – have risen by about 50 basis points over the past year…[which] largely reflects the increased cost of deposits.”
“The Reserve Bank cash rate has reduced 150 basis points since November last year, but with banks, credit unions and building societies facing real funding cost pressures, not all of that has been passed on. The Reserve Bank calculates that the major banks have cut standard variable home loan rates by an average of 115 basis points.”
“For small business lending backed by residential security, banks have passed on more of the cash rate cuts, reducing the average loan by up to 120 basis points.”
“While the Reserve Bank has identified that average funding costs have increased by 50 basis points, banks have only passed on 30 – 35 basis points to most home and small business borrowers.”
“At the same time, banks have only passed on about half the cash rate cuts to savers with term deposits.”
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Australian Bankers' Association says banks justified in not passing on rate cuts in full

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Liquidity-strapped mining magnate Nathan Tinkler is reportedly looking to dispose of a commercial property asset in Brisbane.
Boardwalk Investments, of which Tinkler is a director, intends listing a three storey office building at 366 Queen Street for sale, according to an report in the Australian Financial Review.
The report does not say which commercial agency has the listing.
It was purchased in February last year for $7.7 million having previously traded for $2.2 million in 2000 when Elizabeth and Gregory Nunn bought it from Macarthur Capital.
The property sits on a 379 square metre block and has 1,200 square metres of office space at the quieter end of Queen Street.
Local commercial agents do not expect the property to sell for more than $5 million.
In October, Tinkler reportedly let a <a href="https://www.propertyobserver.com.au/commercial/nathan-tinkler-lets-another-property-purchase-lapse/2012100957061">$37?million low-rise Brisbane office acquisition lapse</a> with the the 5,500-square-metre building overlooking the Brisbane River put back on the market through Jones Lang LaSalle agents Seb Turnbull and Geoff McIntyre.
The billionaire's finances – especially the Tinker-aligned developer Buildev Group – have been under scrutiny since his attempted $5.25 billion bid for Whitehaven Coal collapsed due to a lack of funding.
Tinkler reached a settlement with Mirvac’s Domaine Steel after it successfully sued Ocean Street Holdings and Tinkler’s Buildev Group, after an earlier agreement to buy industrial land for a new coal terminal in Newcastle. 
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Nathan Tinkler puts Brisbane CBD office on the market: report

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The Reserve Bank has cut the cash rate to 3%, which is its lowest setting since the GFC.
NAB, among those lenders to tip a December rate cut, now also expects a further 25 basis point rate cut next year, probably around May.
Lenders are expected to once again hold off passing on the full rate cut to borrowers, with about 20 out of the 25 basis points expected to be shaved from variable rates.
NAB and Bank of Queensland have already announced they will pass on 20 basis points to borrowers on December 10 and December 21 respectively, while ING Direct will pass on <a target="_blank" href="/news">all 25 basis points </a>from December 24. 
Fixed rates are likely to continue to fall as lenders seek to lock in borrowers and circumvent the government’s ban on mortgage exit fees.
These are the lowest advertised mortgage rates based on listings by <a target="_blank" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" href="https://mozo.com.au/">Mozo.com.au</a> and <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> as of December 5:
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="134" valign="top">
Provider
</td>
<td width="124" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="116" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="134" valign="top">Mortgage View</td>
<td width="124" valign="top">Pro pack</td>
<td width="97" valign="top">5.42%</td>
<td width="116" valign="top">5.44%</td>
</tr>
<tr>
<td width="134" valign="top">
Loans.com.au
</td>
<td width="124" valign="top">
Blackboard special
</td>
<td width="97" valign="top">
5.42%
</td>
<td width="116" valign="top">
5.45%
</td>
</tr>
<tr>
<td width="134" valign="top">
My mortgage freedom.com.au
</td>
<td width="124" valign="top">
Low rate (LVR up to 75%)
</td>
<td width="97" valign="top">
5.43%
</td>
<td width="116" valign="top">
5.74%
</td>
</tr>
<tr>
<td width="134" valign="top">
UBank
</td>
<td width="124" valign="top">
UHome loan for refinancing
</td>
<td width="97" valign="top">
5.47%
</td>
<td width="116" valign="top">
5.47%
</td>
</tr>
<tr>
<td width="134" valign="top">
Nationwide Mortgage
</td>
<td width="124" valign="top">
True Saver home loan
</td>
<td width="97" valign="top">
5.47%
</td>
<td width="116" valign="top">
5.47%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="123" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
My mortgage freedom.com.au
</td>
<td width="123" valign="top">
Fixed rate (LVR up to 75%)
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
5.78%
</td>
</tr>
<tr>
<td width="137" valign="top">
Community First Credit Union
</td>
<td width="123" valign="top">
Honeymoon
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
6.46%
</td>
</tr>
<tr>
<td width="137" valign="top">
UBank
</td>
<td width="123" valign="top">
UHome loan for refinancing – fixed rate
</td>
<td width="95" valign="top">
5.03%
</td>
<td width="114" valign="top">
5.54%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="132" valign="top">
Provider
</td>
<td width="131" valign="top">
Loan name
</td>
<td width="96" valign="top">
Rate
</td>
<td width="111" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="132" valign="top">Resi</td>
<td width="131" valign="top">Flexi Fixed Plus 75</td>
<td width="96" valign="top">5.09%</td>
<td width="111" valign="top">5.99%</td>
</tr>
<tr>
<td width="132" valign="top">
UBank
</td>
<td width="131" valign="top">
UHome loan for refinancing – fixed rate
</td>
<td width="96" valign="top">
5.13%
</td>
<td width="111" valign="top">
5.40%
</td>
</tr>
<tr>
<td width="132" valign="top">
Pacific Mortgage Group
</td>
<td width="131" valign="top">
PMG Fixed
</td>
<td width="96" valign="top">
5.19%
</td>
<td width="111" valign="top">
5.43%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar <a target="_blank" href="/news">Refinancing and the Interest Rates Riddle</a>
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A guide to the lowest rate home loan offerings fixed and variable as of December 5 as RBA cuts cash rate to 3%

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GPT has opened the first of three buildings in its 5 Murray Rose development at Sydney’s Olympic Park.
The A-grade campus-style building, which has 12,000 square metres of office space, will be tenanted by beer maker and food company Lion, which has committed to a 12-year lease and will relocate 800 people to the Olympic Park business precinct.
Among the beers Lion produces are Tooheys, XXXX, Hahn and James Boag.
The building, the first of three GPT is building as part of a $200 million development, has received a six-star green star rating from the Green Building Council (GBC) and is targeting a five-star NABERS energy and water rating.
A rooftop solar farm, which generates more solar energy per square metre than any other commercial building of it scale in NSW, produces 25% of the base building’s electricity requirements.
GPT Group chief executive and managing director Michael Cameron says building is exemplified GPT’s commitment to sustainability.
“The best practice sustainable design on show in this building is what people have come to expect from GPT,” he says.
It includes a bar serving Lion’s famous brews and beverages.
GPT is the largest private land owner of commercial space in Sydney Olympic Park, with an additional 200,000 square metres of commercial, retail and residential space secured for future development within the precinct.
The Sydney Olympic Park Master Plan for 2030 aims to grow the precinct daily population to 50,000, which includes up to 20,000 visitors.
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GPT commits to sustainability with six-star office building opening at Sydney’s Olympic Park

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A retail buyer has fended off competition from architects, fashion and advertising businesses and residential developers to acquire a former Chippendale post office built in 1931 for $1,477,000 at auction.
The single storey red-brick brick corner building at <a href="https://www.realcommercial.com.au/property-offices-nsw-chippendale-500482743" target="_blank">2-4 Shepherd Street</a> in inner Sydney offers 300 square metres of space and has two car spaces.
It was offered for sale the first time in 60 years as a creative/studio space, with interest also coming from the arts community.
The building is just 25 metres from Broadway in Sydney, a short walk from University of Technology Sydney (UTS) and the Frasers-Sekisui House $2 billion Central Park mixed-use development.
"The property benefits from flexibility of use, from a retail-commercial mix to work-live options, in a location convenient to shopping facilities, universities and the CBD. As such the price achieved was above expectations," says Cushman and Wakefield director Lindsay Sturrock, who marketed the building.
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Former 1930s Chippendale post office sells for $1.48 million

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Bank of Queensland (BoQ) has pre-committed to lease 56% of the office space in FKP’s ‘Gasometer 2’ office development within the Gasworks site on the banks of the Brisbane River.
BoQ has committed to lease 13,100 square metres of space in the A-grade office building over 12 years with renewal options for a further 10 years.
The office building forms past of the mixed-used urban renewal project at the 6.4-hectare site, which will also include a Mirvac master-planned community and a retail component.
The leasing deal is good news for FKP, which recorded a fall in profits of 22% in the 2012 financial year, with Peter Brown to step down as managing director by February.
Goldman Sachs analyst Peter Zuk labelled the leasing commitment from BoQ as “positive” and revised its earnings estimates upwards.
In terms of potential profits, Zuk says FKP has not yet confirmed if it will take full development risk during the construction phase and look to sell the asset on completion or sell it on a "fund-through" basis like it has done on other office developments in the past, “whereby its potential realised profit will be lower, but at the same time reducing its development risk”.
Construction of the office tower is due commence this month, with completion expected in "late 2014", with an anticipated end value of $180 million.
The Gasworks project is bounded by the Brisbane River, Longland and Wyandra streets, Breakfast Creek Road and Waterloo, Gordon and Evelyn streets.
It will feature apartments, upmarket retail and leisure outlets, A-grade office space and a plaza with the iconic gasometer frame as its focal point.
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Bank of Queensland to anchor-tenant FKP office building at Gasworks development

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The Reserve Bank has cut the cash rate to 3% today, as tipped by most economists.
The new setting is the lowest the cash rate has been since a period from April to September 2009, following the GFC.
Traditionally, the RBA is <a href="/news">reluctant to cut rates in December</a>, doing so at fewer than a third of December monetary policy meetings going back to 1990.
A 25-basis-point rate cut, if passed on in full by lenders, will save a borrower with a 25-year mortgage of $300,000 about $48 per month.
“The Reserve Bank has boosted consumer confidence in time for what is traditionally the most expensive season of the year. Even though rate cuts won’t be filtered through to most variable mortgage holders until January, borrowers are likely to feel more positive about spending money this Christmas," says Michelle Hutchison, spokesperson for financial comparison website RateCity.com.au. 
“Borrowers with a typical $300,000 mortgage can expect to save about $40 in monthly repayments from next month, as most lenders are likely to pass on 20 basis points. But there’s a significant difference between what lenders will pass on and the interest rates they offer.
“For instance, following the last rate cut in October, lenders passed on between 4 and 25 basis points according to RateCity. Variable interest rates range from 5.4% up to 7.2%, which is worth about $352 in extra monthly repayments for a $300,000 home loan (over 30 years).
“If you have time off over Christmas, borrowers should take advantage of their spare time by finding out how much your lender passed on, what your interest rate is and how it measures up to the rest of the home loan market.”
The RBA would have taken into account a benign inflation rate, house prices flat and manufacturing sector continuing to contract at a sharp pace and flat retail sales in October.
Earlier today, the ABS reported that <a target="_blank" href="https://www.propertyobserver.com.au/residential/dwelling-approvals-fall-by-greater-than-expected-76-in-october-abs/2012120458278?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">building approvals fell 7.8%</a> in October, greater than expectations of a 1.6% fall. Mortgage holders must now wait to hear over the next few days how much of the rate cut will be passed on by lenders to borrowers.
ANZ mortgage holders have a long wait - until Friday, December 14, - to hear if the bank will reduce its variable rates as part of its independent interest rate decision on the second Friday of every month.
Speaking to David Koch on Sunrise last week, Aussie Home Loans boss John Symond said he did not expect the banks to pass on the full rate cut, but probably 20 out of 25 basis points.
The Reserve Bank’s monetary policy committee will next meet in February – there is no meeting in January.
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RBA delivers some Christmas cheer to home borrowers with December rate cut

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Jailed former mortgage broker Mark Booty has been permanently banned by ASIC from providing financial services and engaging in any credit activities following his conviction for defrauding seven clients involving more than $1.1 million.  Booty, 41, formerly of Rockingham, Western Australia, was licensed by the WA Department of Commerce as a finance broker when the offences occurred between 2007 and 2009.
He was the director of Prime Property Investment Perth Pty Ltd, a mortgage broking business based in Perth. Mr Booty provided mortgage broking and financial advice to clients of this busines
Following an investigation by WA Police, a District Court of Western Australia jury found him guilty on eight counts of gaining a benefit by fraud. In April 2012 he was sentenced to five and a half years in prison with a non-parole period of three and a half years. Booty set up an investment scheme into which seven clients invested money over an 18-month period that they had accessed by borrowing against their homes. One investor put $250,000 into the scheme reported the ABC at Booty's trial in April.
Rather than being invested and secured in the manner he had promised, Booty misappropriated the funds for his own purposes in his business and for personal expenses.
Booty became bankrupt in 2009 and the investors in his scheme lost their capital. ASIC commissioner, Peter Kell said the decision to permanently remove Booty from the financial services and credit industries was done to protect the public.  ‘While Mr Booty is currently in prison, it is important that he is prevented from working in the credit and finance industry in the future,’ Kell said. Booty has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.  
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ASIC permanently bans former Perth mortgage broker Mark Booty following fraud convictions

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The prices of Brisbane apartments increased by 2.3% over November to a median of $360,000, in contrast to a flat capital city housing market, according to the latest monthly update by RP Data-Rismark.
The gain over November means that Brisbane unit prices are now down just 0.8% year-on-year, delivering investors a total year-on-year return of 4.9%.
Brisbane unit investors are getting the second best rental return (alongside investors in Canberra units) across the eight capital cities, with a yield of 5.5%, with only Darwin higher at 6.6%.
The Brisbane detached housing market did not match unit price growth over the quarter, managing just 0.3% to a median of $435,000 to be up 0.4% year-on-year.
The RP Data-Rismark November index shows the eight capital city dwelling prices unchanged at a median of $472,500 – following 1% decline in October – with Canberra (1.3%), Darwin (1.1%) and Darwin (1%) the only capital city markets to record dwelling prices rises of 1% or more.
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On a quarterly basis, most capital cities recorded a rise in dwelling values.
The largest capital gains were found in Darwin (3.1%), Perth (3.0%), Brisbane (0.8%) and Sydney (0.6%).
The only cities where values were down over the three months ending November were Canberra and Melbourne (both -0.7%) and Hobart (-4.5%). 
“Home values in Brisbane and Perth remain below where they were five years ago whereas the other mainland cities have all increased over this period," says RP Data senior research analyst Cameron Kusher.
“This has meant that relative to the other capital cities, Brisbane and Perth have experienced affordability improvements, and subsequently we may see them become more popular from both an owner-occupation and investment perspective."
Melbourne was the weakest capital city housing market over the month and the only to register a decline in its median prices, which fell 1% to a median of $486,000 while dwelling prices were unchanged in Sydney at $555,000.
Click to enlarge
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Year-on-year, dwelling prices are virtually unchanged, indicating a housing market that continues to tread water, but with notable diversion in performance at an individual city level.
Darwin has been the strongest performer with total returns (capital growth plus rental returns) of 20%, followed by Perth (8%), Sydney (5.9%), Brisbane (5.1%) and Canberra (4.9%).
The soft Melbourne is delivering total returns of just 1.2%, compared with a capital city average of 4.2%, while Hobart is the only capital city delivering negative total returns of -2% due to dwelling prices down 7% over the past 12 months.
Kusher says the November market conditions highlight that the road to a market recovery will not be without pauses, and those cities that performed very strongly in 2009 and 2010, like Melbourne, may show continued weakness.
“Capital city home values remain -5.6% lower than their historic highs of 15 November 2010, but, up 2% from their low of late May 2012," he says.
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Brisbane unit prices up 2.3% over November as capital city markets remain flat: RP Data-Rismark

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Towns and rural villages within an hour’s drive of Newcastle present first-home buyers and investors with many opportunities to acquire property priced under $300,000, though in some cases, employment, shopping and transport options may be limited.
Valuers Herron Todd White pick Cessnock, the fringe suburbs of Lake Macquarie and range of small rural towns to the north, south and west of Newcastle, where houses can be picked up below this benchmark.
“At Cessnock in the west, very basic and dated housing can be acquired for $150,000 to $200,000 as well as in fringe villages like Aberdare and Millfield.
“Further west in the town of Singleton, the coal mining boom is impacting on housing, seeing basic prices again rising to the $250,000 to $300,000 range.
“Singleton can further expect to benefit from the M15 expressway due to open in September 2013 making the region more accessible,” says HTW.
Outer-suburb buyers are being spurred on due to a tight rental market in Newcastle with the Real Estate Institute of NSW reported a 1.6% vacancy rate in October.
The median price of a Newcastle house is $655,000 and $430,000 for units, according to RP Data with BIS Shrapnel tipping <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/hotspot-newcastle-tipped-for-strong-growh/2011062950648">strong capital growth of around 6% per annum </a>over the next two years.
Apart from being Australia’s sixth biggest city with a population of 550,000, Newcastle is also a beneficiary of coal mining investment activity and is well connected to Sydney plane, train and by car via the Newcastle Freeway and the Pacific Highway.
Herron Todd White notes that affordable houses are “typically in areas with limited employment opportunities, shopping, education, and public transport.
“The typical purchaser of affordable housing is quite varied and includes a wide range of owner-occupiers, first home buyers and investors.
“In the current economic climate we are finding the most remote of locations experiencing greater sales periods than their more centralised counterparts.
South of Newcastle, first-home buyer and investor opportunities can be found on the southern fringes of Lake Macquarie, with cheaper housing is priced from around $250,000 to $300,000 in areas such as Doyalson and Wyee.
“Similar pricing occurs in the small villages near the Pacific Highway like Morisset, Dora Creek and Awaba.
Buyers with a penchant for rural living might consider the more remote areas of the upper north and north-west, around towns such Dungog, Stroud, Gloucester and  Buladelah, suggests HTW, with houses priced from as low as $150,000 to $200,000, but where “services and facilities are more limited”.
“Finally in the coastal areas of the north-east, lower end property around Hawks Nest and Tea Gardens can be acquired for around $250,000 to $300,000.
“Just to the south around Nelson Bay, older houses can sell for as low as $300,000.
“Over the last few years these coastal areas have experienced a significantly weakened market with the typical purchaser – an investor or holiday house purchaser having departed the market and sales periods have noticeably increased,” says HTW.
For Terry Ryder's outlook on the state of the regions sign up for the free webinar on Thursday, December 6 at 12.30pm on <a target="_blank" href="/news">Regions versus capital cities - where to invest in 2013?</a>
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Newcastle fringe suburbs attracting first-home buyers and investors with many options under $300,000: HTW

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

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

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

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

Larry Schlesinger

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