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The ASX-listed US Masters Residential Property Fund, which invests directly in residential real estate in Hudson County, New Jersey and Brooklyn, will undertake “significant clean-up” operations following damage suffered to its portfolio from Hurricane Sandy.

The worst affected properties were those in low-lying areas of Jersey City, Bayonne and Hoboken, where the fund spent US$1.3 million on a four-bedroom terrace house in September.
The <a target="_blank" href="https://www.propertyobserver.com.au/international/wide-ranging-residential-yields-in-dixon-advisorys-us-housing-fund-as-shares-debut-on-asx/2012072455700">Dixon Advisory-managed fund</a> has acquired 249 rental properties at a cost of $67 million since launching on the small cap National Stock Exchange in June last year.
The fund transferred to the ASX main board in July this year.
In an update following the devastation of the hurricane, <a target="_blank" href="https://www.propertyobserver.com.au/overseas/aussie-property-investors-being-duped-in-us-but-dixon-not-among-them-alan-dixon/2011121452839">managing director Alan Dixon </a>along with head of construction Dan Bailey undertook an inspection of some of the fund’s properties, with other members of the management team also undertaking inspections.
Dixon says there was only minor "wind-based damage" to properties in Weehawken, Union City, West New York, North Bergen and the Heights district of Jersey City, which are all “well above sea level and were not affected by storm surge flooding”.
“These areas contain all the multi-family properties held by the fund as well as a significant number of the fund’s one- to four-family homes,” he says.
Dixon says the lower lying areas of Hudson County were more heavily affected.
“The remainder of Jersey City and Bayonne have had many houses affected by flooding of basements, but this has only on rare occasions affected the living space in any of the properties.
“Many of the properties remain without power, so it is too early to be certain of the extent of damage to mechanical items such as boilers and hot water heaters.”
Dixon says that inspections of a large number of properties in the Downtown section of Jersey City revealed no material damage to the properties, “just loss of some cosmetic walling and flooring materials”.
“The area worst affected was the township of Hoboken. The fund has closed only two properties in this town, and both have experienced some flood damage.
“One property is a future construction site and as such there was not much potential for damage. It is expected that there will be more significant damage to the other property. The fund’s management team has not been able to visit this property yet due to floodwaters.
 
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In its most recent property purchasing update in September, the fund purchased a four-bedroom apartment for $1.3 million, less than half a mile to the nearest ferry stop. It was by far the most expensive property purchased over the month.
 
“There will be significant clean-up work required across the fund’s portfolio,” says Dixon.
“As many tenants of the fund are still without power or mobile phone coverage, it is too early to precisely estimate the final clean-up bill.
“However, given the limited nature of the damage and the insurances carried by the fund, the responsible entity currently estimates that there will be no material effect on the net tangible assets of the fund and that the effect on the profitability of the fund will be relatively limited given the scale of the tropical storm.”
Dixon says management will keep the market informed over coming days as more information comes to hand.
Since launching, the fund has primarily invested in multi-family sub-divided homes in Hudson County, New Jersey directly across the Hudson River from Manhattan.
The fund has since expanded to Kings County New York, more commonly known as Brooklyn.
It has also expanded beyond sub-divided homes to invest in small and medium-sized apartment blocks of between five to 100 units.
In May the fund entered into a joint venture with Urban American LLC to acquire, renovate, manage and lease 13 apartment blocks in Hudson County comprising 398 apartments in total.
In August it entered into another similar joint venture arrangement with Excelsior Equities to acquire and manage two apartment blocks comprising 122 units.
The US Masters Residential Property Fund reported a loss of $2.1 million for the six months to June 30, attributing this to the fund being in a start-up phase.
The directors of the fund say it has the capacity to invest in and manage around 1,000 properties.
It paid Australian shareholders a distribution of five cents per ordinary share for the six month period to June 30.
The fund was last trading at $1.55 per unit at a premium to its net tangible asset value of $1.43 per unit (as of September 30).
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lschlesinger-FZcF9M3vE6

Dixon Advisory to undertake ‘significant clean-up' of New Jersey properties damaged by Hurricane Sandy

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The construction arm of St Hilliers has exited voluntary administration and has been returned to the control of founding company director Tim Casey following creditors voting in favour of a deed of company arrangement (DOCA).
The DOCA will take effect in the next few weeks and was an alternative option to placing the company in liquidation.
St Hilliers Construction was placed in voluntary administration in May – among a number of high-profile builders and construction groups that have run into financial trouble in the last 12 months including Reed Construction and Kell &amp; Rigby.
Trent Hancock and Michael Hird of Moore Stephens Sydney Corporate Recovery Group have been managing the business since their appointment as voluntary administrators in mid-May.
St Hilliers ran into trouble over its involvement in the $350 million expansion of the Ararat Prison in central Victoria.
An associated company, St Hilliers Ararat Pty Ltd, was placed into liquidation in May.
Under the deed of company arrangement a fund of up to $8.1 million will be created and used to pay all former employee their salaries and entitlements in full.
Whatever remains will be used pay to ordinary unsecured creditors, and it is estimated that between $1 million and $4.5 million will remain from the fund for this purpose.
Contractors are expected to make claims of between $10 and $20 million, while St Hilliers is also expected to face legal claims of $30 million relating to already completed projects, according to the Australian Financial Review.
Commenting on the decision, St Hilliers Group executive chairman Tim Casey said he was pleased with decision which would “keep people in work, it will keep projects going and it will put the Company in a position to rebuild”.
The construction arm of St Hilliers employed about 300 people when it collapsed with the St Hilliers group generated annual turnover of around $700 million.
Had the creditors voted to liquidate the construction business, insurance bond providers would have a $45 million exposure.
St Hilliers has continued to trade since being placed in administration with many of its projects operational again protecting insurance providers from making payments to the builder for non-performance by contractors.
St Hilliers projects have resumed in the ACT, Queensland, Victoria and NSW.
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Creditors vote to return St Hilliers Construction to control of director Tim Casey

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<img src="/images/stories/2012/10/lendleaselogo.jpg">
David Rolls is head of urban regeneration and commercial in Lend Lease’s development business in Australia. He tells Property Observer about his involvement in major urban regeneration projects including Melbourne's Docklands and Jacksons Landing and Barangaroo South in Sydney.
<img style="margin: 5px; float: left;" src="/images/stories/2012/10/davidrolls2.png">
How long have you been in the industry?
I have been in the industry for over 25 years. I have worked across the project management, construction, and property development industries. With my initial background in construction engineering and a career at Lend Lease, I have been lucky enough to have experience across most sectors including residential, commercial, retail, for both private and public clients, in both Australia and Europe. I have also had a four-year period outside of Lend Lease gaining a valuable external perspective which involved packaging projects without the balance sheet strength of that enjoyed at Lend Lease.
What’s happening in the area you specialise in?
I am head of urban regeneration and commercial. This is an exciting time in our business, as we have projects such as Jacksons Landing in Sydney that have been in development for 16 years reaching completion, and then across the Harbour we have Barangaroo South just starting. Our Victoria Harbour project in Melbourne’s Docklands is also at an exciting stage, and there is a lot happening in the innovation space, including our delivery of the world’s tallest residential timber building, <a target="_blank" href="/news">Forté</a>. In all major cities in Australia we now have major urban regeneration projects underway. A major focus for me is the importance of never under-estimating how much effort is needed to deliver unique places and communities in their respective local context.
Describe the most interesting property development or transaction you have been involved in?
Definitely Darling Quarter. It was a collaborative effort between Lend Lease and the Sydney Harbour Foreshore Authority (SHFA). A $500 million mixed-use project that includes a low rise campus-style commercial development (Commonwealth Bank Place) with an illuminated façade and a family and leisure precinct with retail and dining options, a new 4,000-square-metre public illuminated playground, a children’s theatre, community green and carpark. Darling Quarter reconnects the south end of Darling Harbour to the city, and Lend Lease has delivered an interactive work and play area for the local community, city workers and tourists. The precinct has greatly improved public activation by bringing together commercial, retail and leisure all within the one area. A new pedestrian link, referred to as the Civic Connector, creates a gateway to Darling Harbour that connects to Town Hall station, Chinatown and the Darling Harbour waterfront. This project has achieved so many firsts across social, economic and financial sustainability that all stakeholders just could not be happier with the result.
What are the ingredients to being successful in your job?
I have a passion for leading teams and having all team members focus on improving the project as it progresses in every aspect rather than accepting the easy option. For example, at Darling Quarter the stakeholders worked together to enable the delivery of the illuminated playground that has become a destination for the people of Sydney.
What aspects of your role do you enjoy the most?
I really enjoy playing with complex urban challenges and seeing the transformation they can make.
Where would you invest a spare $750,000?
I would invest in Brisbane. The growth projections matched with the population growth forecasts would make it seem like a good long-term prospect.
Which football team do you support?
The Manly Sea Eagles, on the northern beaches of Sydney.
What’s your favourite app or techno gadget?
Having only just mastered the iPad, I would have to say my favourite techno piece is the Garmin app where I can view my cycling training history and race against pre-set times on certain local hills.
How do you use social media?
Personally I stay in touch with friends and family via Facebook and professionally use in LinkedIn. We have used Twitter for conferences and training but I am yet to master this one. Via my children and colleagues I am starting to understand the basics of FourSquare, Pinterest and Instagram.
Find David on <a href="https://www.propertyobserver.com.au/https://www.linkedin.com/pub/david-rolls/11/17/725" target="_blank">LinkedIn</a>. 
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In profile: Lend Lease head of urban regeneration David Rolls

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A “distracted” Rudy Giuliani, the former high-profile New York mayor, has told attendees at the Property Council of Australia annual congress in Sydney today of the role cities play as public relations ambassadors for their country.
Guiliani was the keynote speaker at the conference, with delegates paying up to $3,000 to hear him speak.
"Our cities are the public relations for our country," Guiliani said, according to tweets from those who heard him speak at the congress.
Guiliani was addressing the congress on how policy develoment and leadership can transform cities.
He said he had transformed New York City through long-term planning and decision making.
He added that the homelessness was a reflection of how a city respected its people.
Guiliani was mayor of New York from 1994 to 2001 and said at a press conference ahead of his address that he was “somewhat distracted” by what was going in his home country, his city and region following the devastation of Hurricane Sandy.
He also said that while it would be expensive to rebuild areas devastated by the storm, it would help the local economy.
“The devastation of the storm has been catastrophic,” he told Channel 10.
“Whenever I was mayor or just a private citizen the real loss was human life.
“Unfortunately there was significant loss of human life.”
Guiliani says property damage and the loss of profit because business and the stock exchange has closed can all be made up, but not human life.
But he stressed that New Yorkers are resilient and had already “been through so much” – referring to the September 11 tragedy.
“Twice as many people live in Lower Manhattan today then did before September 11,” Guiliani said, citing a statistic mentioned often by current New York mayor Michael Bloomberg.
This has been the case, he says, despite there being 15 known threats to attack New York since September 11, including a recent plot to blow up the Federal Reserve building in Lower Manhattan.
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Our cities do the PR work for our country: Former New York mayor Rudy Giuliani

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Listed property trust Charter Hall has received development approval to build a 12-storey office tower in Docklands in the last available office development site in the Etihad Stadium precinct.
The 685 La Trobe Street project is a joint venture with Flagship Property Holdings, with marketing of the office and retail space commencing in May this year.
Charter Hall paid $5 million to acquire a 50% interest in the development as part of an agreement with Flagship to jointly undertake the development of the project once a substantial leasing pre-commitment has been secured.
The 37,000-square-metre A-grade office building will feature 3,300 square metre floor plates, the largest of any readily available office building in Docklands.
Around 1,100 square metres of ground floor space has been designated for retail use.
The office building, which will feature a textured glass facade, has been designed by architects Bates Smart, the firm behind Fairfax’s Media House headquarters on Spencer Street in <a target="_blank" href="/news">Docklands</a>.
The building has been designed to meet five-star Green Star and five- star NABERS energy ratings and comprises 137 car spaces and a dedicated mezzanine for 250 bicycles.
It will link up with Southern Cross train station via the Etihad Stadium Concourse, as well as having a tram stop at its doorstep on La Trobe Street.
Its signature feature is its butterfly-shaped design, which creates two landscaped plazas, two wings of office space and a large central hub space that unites the building.
A double-height entrance lobby on La Trobe Street will have a sculpted blackbutt timber ceiling, flanked on either side by a vaulted ceiling that leads to the terrazzo tiled lift lobbies.
Construction of the project is due to begin mid-next year once a substantial leasing pre-commitment has been secured with a completion date of 2015 pencilled in.
The leasing of space in the building is being marketed by Nicholas Farley, head of Victorian leasing for Savills. 
"As the last office development to be built in the Stadium Precinct, it offers the best northern light, the best transport access and it’s close to everything,” says Chris Chapple, head of development services at Charter Hall.
Steve Wise, director of Flagship Property Holdings says 685 La Trobe Street reflects the “very best of commercial design that creates flexible work environments with great amenity for the people that will work there”.
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 Charter Hall’s Docklands office tower near Etihad Stadium wins development approval

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September RBA housing credit figures have emphasised the point made by both Commonwealth Bank chief Ian Narev and RBA deputy governor Philip Lowe that lower interest rates are not encouraging borrowers to take on more housing debt.
Housing credit increased by just 0.4% over September, following an increase of 0.3% over August to be up  4.7% over the year to September.
This set new low for annual mortgage growth for RBA records going back to 1976.
The previous low was an annual growth rate of 4.8% in August 2012.
Since the RBA started cutting the cash rate in November last year annualised mortgage lending growth has fallen from 5.6% to 4.7%.
Putting this into context, between 2000 and 2004 – during the last housing boom – annual mortgage lending growth averaged between 15% and 22%.
The RBA figures show low credit growth in other sectors as well indicating business and consumer caution and an unwillingness to take on more debt.
Other personal credit (such as credit cards and personal loans) increased by 0.2% over September, after decreasing by 0.3% over August.
Over the year to September, other personal credit decreased by 0.9%.
Business credit increased by 0.3% over September, after decreasing by 0.1% over August.
Speaking at the Commonwealth Bank AGM yesterday, <a href="https://www.propertyobserver.com.au/news/rate-cuts-wont-stimulate-housing-market-whether-passed-on-in-full-or-not-cba-chief-executive-ian-narev/2012103057535" target="_blank">Ian Narev</a> said interest rate reductions were being used to “accelerate repayment of debt”.
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Mortgage growth falls to new historic lows as borrower caution rules over lower interest rates: RBA figures

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A second consecutive monthly rise in dwelling approvals in September has further dampened expectations of a rate cut on Melbourne Cup day.
The number of dwellings approved for construction rose 7.8% to 13,338 in September 2012 in seasonally adjusted terms, according to the latest ABS data. This was the second consecutive month they have risen following a 6.4% rise in August. Dwelling approvals fell 21.2% in July.
Dwelling approvals are a leading future indicator of housing activity and the increases in August and September will raise RBA concerns about low interest rates creating a housing bubble.
Approvals for private sector houses rose 1.2% in September to 7,484 led by Western Australia (4.7%), Victoria (3.3%), South Australia (1.7%) and New South Wales (1.3%).
However they fell in Queensland (-3.6%).
Over the year to September, approvals for houses are down 1.8%.
Unit approvals increased by 17.9% in September to 5,772.
The value of total building approved rose 3.2% in September, in seasonally adjusted terms, and has risen for 2 months.
The value of residential building rose 12.5% while non-residential building fell 12.3%.
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Dwelling approvals rise 7.8% in September and dampen Melbourne Cup cash rate cut prospects

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Big four bank NAB has reported a 22% drop in full year profits but very strong growth in mortgage lending despite soft metropolitan housing markets and low demand for housing credit.
Statutory net profits for the year to September decreased by $1.1 billion or 21.8% to $4.1 billion while cash earnings fell by $27 million or 0.5% to $5.4 billion reflecting “ongoing challenges” in the restructuring of its UK banking business.
However, mortgage lending increased by 9.9% over the financial year – 1.6% higher than system growth - with NAB picking up 30 basis points in mortgage market share (up from 14.5% to 14.8%) as its Australian mortgage book increased from $130 billion to $143 billion over the course of the financial year.
Cash earnings from NAB’s personal banking division increased by $113 million or 12.1% to $1.0 billion with the bank reporting that its “differentiated customer proposition continued to deliver market share gains in both housing lending and household deposits in a highly competitive market”.
NAB has maintained its promise of having the lowest standard variable home loan rate of the Big Four banks over the past three years.
NAB group chief executive Cameron Clyne says personal banking had a “particularly strong year delivering increased returns, higher market share in mortgages and household deposits, and the highest bank customer satisfaction score of the four major Australian banks ever recorded in the Roy Morgan survey”.
However mortgage lending has become less profitable with NAB’s net interest margin decreasing by 16 basis points compared to September 2011 due to "funding and deposit cost pressures and changes in product mix".
The bank regained two basis points on its net interest margins in the second half of the financial year (March to September) “reflecting mortgage repricing”.
The report notes the ongoing subdued lending environment and cautious behaviour of households, who remain focused on repaying down debt.
“The slowing in housing credit to a record low reflects the easing in lending to owner occupiers,” says NAB in its full year results release.
“Loan approval numbers have recently stabilised at a low level as the volume of lending has been held back by the weakness in key metropolitan housing markets.
NAB expects mortgage lending to accelerate further over the next two years to “around 8% year-on-year by late 2014”.
In its review of group performance, NAB reports that “Australia has been one of the best performing advanced economies over the last five years”.
However, it notes that challenges remain including the impact of the stronger Australian dollar due to the mining boom on employment and activity in the manufacturing and tourism industries and in the regions reliant on those sectors.
“Caution in the household sector, reflected in the higher savings ratio and weak credit appetite, is the other major challenge.
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NAB full year profits slump but mortgage growth up 10% despite soft metro housing markets

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Australia’s most well-known property bear, the University of Western Sydney's Professor Steve Keen, is set to quit academic life in Australia and is mulling a move to London as his economic models and analysis gain a wider global following.
Speaking to Property Observer from Mexico City, Keen expressed frustration at a decision by his alma mater to cut economics entirely from its curriculum.
“So we'll soon have a university with no economics courses at all, which I think would be a very dubious first in Australia – and maybe the world,” he says.
Keen has been at the University of Western Sydney for 20 years, where he is professor of economics and finance. He is most famous for his unscripted 2007 prediction on the ABC that Australian house prices could fall 40% – a prediction he remains adamant will still happen, but over the next 10 to 15 years.
Keen has also been blogging about his frustration at securing funding for his economic research, which is based around how high private sector debt levels can fuel housing crashes and financial collapses.
His research has given him an international audience and invitations to speak all over the world including the opportunity to address Britain's Keynes Society at Eton, as well as appear on the BBC's Question Time to discuss the impact of debt on economies.
“Given how much I'm in demand in the public sphere in Europe, my best bet would be to move to London. I'm appearing BBC Question Time, so there's plenty of room to let it be known that I'm happy to shift over there," he says.
Keen recently blogged:
 “Australia and the University of Western Sydney (UWS) have been very good to me for the last 20 years. I have been able to develop a unique monetary dynamic approach to economics 'under the radar' out here, with the support of four consecutive Heads of School who have favoured a pluralist approach to economics.
“But it may be time for a change…” he says before going on to write about a likely funding freeze in place at the Australian Research Council (ARC).
The ARC has provided funding to the UWS research unit (including to Steve Keen's department) and other universities, but last week ARC chief Aidan Byrne told a Senate hearing he didn't know whether or when hundreds of millions of dollars of grants with preliminary approval would be announced and paid following efforts by the government to achieve a budget surplus, as reported by the <a target="_blank" href="https://www.smh.com.au/national/funding-freeze-halts-research-20121017-27ri3#ixzz2ApVMphzv">Sydney Morning Herald</a>.


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Keen says he will probably take voluntary redundancy and then expand what he is doing for income in the private sector.
He earns income for the columns he writes for Business Spectator combined with “minor ad revenue” from his<a href="https://www.debtdeflation.com/blogs/" target="_blank"> Debtwatch website </a>as well as from paid subscribers to his recently launched <a href="https://debunkingeconomics.com/" target="_blank">DebunkingEconomics.com</a> website, which he says is now past breaking even “and improving at a reasonable clip”.
“That plus super could give me a reasonable income, and losing my academic post – though for a ridiculous reason – would at least make my workload more manageable.”
His most recent Australian appearance was as a panellist at a Citi Australian Investment conference in Sydney last week, where he gave a surprisingly bullish short-term forecast for the property market.
Keen said he expected a “suckers' rally” in the housing market over the next year due to lower interest rates in a speech reported by the Australian Financial Review.
However, due to high mortgage debt levels, Keen said he expected the rally would fizzle out with the housing market not responding to interest rate cuts because consumers already carried too much debt.
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Steve Keen contemplates quitting Australian academia for possible private sector role in London

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Overseas investors, especially those from Singapore, have developed a healthy appetite for Australian hotels, the graph below prepared by Colliers International shows.
From 2003 through to 2007 domestic institutional investors were the main purchasers of hotel assets in Australia.
However, over the past five years, this trend has reversed, with Australian domestic institutions being the main vendors, and overseas investors dominating purchasing activity.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/colliersoct31.gif"><img src="/images/stories/2012/10/colliersoct31thumb.gif"></a>
Recent sales to offshore investors include the four-star Rendezvous Hotel on Flinders Street in the Melbourne CBD for $61 million to a Singaporean property group the Straits Trading Company. The group also owns two other Rendezvous-branded hotels located in Perth and leases and manages others in Melbourne, Sydney, Brisbane, Adelaide and Port Douglas.
The largest transaction of the quarter was the sale of the five-star <a href="https://www.propertyobserver.com.au/leisure/chinese-buyers-await-firb-approval-to-secure-palazzo-versace/2012092056727" target="_blank">Palazzo Versace hotel on the Gold Coast</a> to mainland Chinese investors by the Sunland Group for $68.5 million. The sale is subject to approval by the Foreign Investment Review Board and the House of Versace, which still owns the brand name.
Local investor purchases includ the Sydney-based Barana Group, which bought the Novotel St Kilda in Melbourne for $55 million.
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How overseas investors have stormed the Australian hotel market

<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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