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The Reserve Bank plans to introduce new reporting requirements for lenders that issue residential mortgage-backed securities (RMBS) to investors as the Australian securitisation market show more positive signs of a gradual recovery.
In his address to Australian Securitisation Forum in Sydney yesterday RBA assistant governor Guy Debelle said RMBS issuance in the year to date had totalled $10 billion.
“By way of comparison, in the second quarter of 2007, at its peak, issuance amounted to $25 billion,” he said.
The RMBS market was heavily used by non-bank lenders and other smaller lenders before the GFC to access cheap mortgage funding, with tranches of mortgages securitised and sold to both local and offshore investors.
But the RMBS market froze following the GFC as offshore investors demanded higher returns to compensate for the perceived higher risk, spooked by sub-prime crisis in the US.
Since then the Australian market has been recovering gradually with the help of the Australian Office of Financial Management, which has acted as a cornerstone investor on many transactions to reassure investors.
The graph below, presented by Debelle, shows how the market slumped from annual RMBS issuance of around $40 billion in 2007 to just over $10 billion in 2008, but has risen since then.
<img src="/images/stories/2012/10/rbaoct231.gif">


<hr class="system-pagebreak">
Under the new draft quarterly reporting requirements, the RBA will require that “issuers provide the Reserve Bank and the broader public with more comprehensive and up-to-date information on the securities”.
The new information requirements cover both transaction-related data as well as information on the underlying assets, such as anonymised loan-level data.
Industry comment on the new requirements is been sought by the RBA until December 28, with a <a href="https://www.rba.gov.au/media-releases/2012/mr-12-31">full breakdown of the draft proposal provided on the RBA website</a>.
“When the templates are finalised, an implementation period will apply for RMBS to give issuers the time to develop the reporting systems necessary to comply with the new reporting requirements,” says the RBA.
Commenting on the initiative and the improvement in the market, Debelle said that in Australia, RMBS issuance in 2012 had recovered to the point “where new issues are replacing maturing issues so the stock outstanding is no longer declining”.
“This year we have seen positive signs in the Australian securitised market, particularly over the past several months," he added.
“First, despite the periodic bouts of turmoil in offshore markets, there has been a steady flow of new issues. Primary spreads have gradually tightened this year and a number of deals have been fully placed with external investors (that is, no tranche has been retained by the issuer), including junior tranches.
“More recently, several issues have been completed with little or no support from the AOFM due to strong private investor demand. And, of course, the collateral underlying Australian asset-backed securities (ABS) continues to be of high quality, with arrears rates on Australian mortgages remaining low,” he said.
Debelle said the new information requirements “should not only benefit the Reserve Bank in assessing the quality of the securities provided to it as collateral, but also be of benefit to the market as a whole”.
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lschlesinger-FZcF9M3vE6

RBA to introduce new reporting requirements for residential mortgage-backed securities 

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The Brisbane residential market slipped further into undersupply in the September quarter as the vacancy rate tightened from 2.1% to 1.7%. according to the latest data from Real Estate Institute of Queensland (REIQ).
A balanced market between landlords and renters is said to exist at a vacancy rate of 3%.
In the Brisbane suburbs, the rental vacancy rate tightened noticeably from 2.4% to 1.9% while in the already tightly held inner Brisbane market (within five kilometres of the CBD), the vacancy rate fell from 1.6% to 1.5%.
<img src="/images/stories/2012/10/reiqoct23.gif">
Property managers attributed the further tightening in the inner-Brisbane market to slower market activity over the three-month period, with tenant interest highest for new properties.
In the suburbs, estate agents attributed the fall in vacancy rates mostly to do with a lack of buying activity from investors as well as some investors opting to sell their properties instead of renting them out.
The tightening of the rental market extended into the outer reaches of the Brisbane market, with the Brisbane surrounds, which includes <a target="_blank" href="/news">Ipswich</a>, <a target="_blank" href="/news">Logan</a>, Moreton Bay and Redland City, posting a vacancy rate of 2.2%  – down from 2.7% at the end of June.
REIQ chief executive Anton Kardash says vacancy rates are continuing to trend into undersupply territory as investor activity slowly swings back into life.
REIQ analysis of ABS data shows there were about 3,900 dwellings financed to Queensland investors in August – up 19% on the same period last year – but still well below the historical figure of 5,000 dwellings financed per month.
‘‘The rental market across Queensland has been constricted for more than two years now,’’ Kardash says.
‘‘The reasons for this have been the low numbers of investors in the marketplace as well as the generally slow property sales market over the period.
‘‘With the reduction in the numbers of properties being added to the rental pool, we are seeing more demand for a much smaller supply of properties.’’
The Gold Coast posted a vacancy rate of 3.5% – an improvement on 4% in June, while on the Sunshine Coast the vacancy rate tightened from 3%to 2.5%.
On the Gold Coast, the REIQ says demand is predominantly for houses over units, while higher-end properties are also doing well.
“The majority of rental properties [on the Sunshine Coast] are taking one to two weeks to relet and are attracting between two and five applicants,” says the REIQ.
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Brisbane vacancy rate tightens to 1.7% as investors hold back or sell: REIQ

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Households in Dutton Park, just south of the Brisbane CBD, are spending more than half (54%) of their income on repaying their mortgage, according to analysis of census 2011 data by Brisbane-based firm Resolution Research.
Borrowers are said to be in mortgage stress and at higher risk of defaulting on their mortgage if they spend more than a third of their household income on making monthly mortgage repayments.
Households in <a target="_blank" href="/news">Dutton Park</a>, about four kilometres south of the Brisbane CBD, earn around $4,500 per month and spend nearly $2,200 of this on servicing their mortgages, according to 2011 census data.
This is a 38% increase on the $1,600 they spent on mortgage repayments, according to the 2006 census.
Over the same period, household income has not kept pace with increasing mortgage repayments – five years ago monthly income was just under $3,950, meaning household income has risen only 14% between 2006 and 2011.
Diana Howes, managing director at Resolution Research, says Dutton Park is an example of residents being willing to make sacrifices on big ticket items to be able to afford to live in the suburb.
"Dutton Park is very unique suburb being just a five minute drive to CBD with both city and river views and full of character housing that can't be redeveloped.
"There have been very few changes in its dwelling typology landscape.
"It's a very constrained supply environment – and one of the most desirable suburbs to live in the city."
Howes says Leighton Properties' development of the master-planned Boggo Road Urban Village alongside the heritage-listed Boggo Road Gaol has stimulated price growth.
The median house price in Dutton Park is $745,000 compared with $548,000 in 2007, an increase of 36%, according to RP Data.
Using the same census data, renters pay around $240 per week ($1,080 per month), suggesting renting in Dutton Park is far less of a burden on household finances.
However,  more recent rental data compiled by RP Data suggests rents have risen rapidly in Dutton Park since the census and have almost doubled to $475 per week.
Across Brisbane, Resolution Research found that nearly one in two (49.2%) Brisbane households under or on the verge of household stress spending between 30 and 39% of their median household incomes on mortgage repayments.
This ratio is matched in the sought-after inner-Brisbane market, currently the focus of dozens of new apartment projects.
Mortgage stress is high in <a target="_blank" href="/news">Woolloongabba </a>(44% of household income goes to repaying the mortgage) followed by <a target="_blank" href="/news">St Lucia</a> (41%).
Other mortgage-stressed inner-city suburbs include <a target="_blank" href="/news">South Brisbane</a>, <a target="_blank" href="/news">Hamilton</a>, <a target="_blank" href="/news">Fortitude Valley</a> and <a target="_blank" href="/news">New Farm</a>.
Howes believes that the current definition of housing stress needs to be adjusted.
"Forty percent of income to service a mortgage would be a better guide," she says.
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;"><tbody>
<tr>
<td width="18%" valign="bottom">
Name
</td>
<td width="10%" valign="bottom">
Household income (w)
</td>
<td width="12%" valign="bottom">
Mortgage repayment (m)
</td>
<td nowrap width="11%" valign="bottom">
Mortgage/
Income
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Dutton  Park
</td>
<td nowrap width="10%" valign="bottom">
$1,004
</td>
<td nowrap width="12%" valign="bottom">
$2,167
</td>
<td nowrap width="11%" valign="bottom">
54%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
West End
</td>
<td nowrap width="10%" valign="bottom">
$1,485
</td>
<td nowrap width="12%" valign="bottom">
$2,597
</td>
<td nowrap width="11%" valign="bottom">
44%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Woolloongabba
</td>
<td nowrap width="10%" valign="bottom">
$1,330
</td>
<td nowrap width="12%" valign="bottom">
$2,200
</td>
<td nowrap width="11%" valign="bottom">
41%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
St Lucia
</td>
<td nowrap width="10%" valign="bottom">
$1,315
</td>
<td nowrap width="12%" valign="bottom">
$2,167
</td>
<td nowrap width="11%" valign="bottom">
41%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Kelvin Grove
</td>
<td nowrap width="10%" valign="bottom">
$1,360
</td>
<td nowrap width="12%" valign="bottom">
$2,123
</td>
<td nowrap width="11%" valign="bottom">
39%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
East Brisbane
</td>
<td nowrap width="10%" valign="bottom">
$1,494
</td>
<td nowrap width="12%" valign="bottom">
$2,167
</td>
<td nowrap width="11%" valign="bottom">
36%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Windsor
</td>
<td nowrap width="10%" valign="bottom">
$1,644
</td>
<td nowrap width="12%" valign="bottom">
$2,383
</td>
<td nowrap width="11%" valign="bottom">
36%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Highgate Hill
</td>
<td nowrap width="10%" valign="bottom">
$1,380
</td>
<td nowrap width="12%" valign="bottom">
$2,000
</td>
<td nowrap width="11%" valign="bottom">
36%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Everton Park
</td>
<td nowrap width="10%" valign="bottom">
$1,346
</td>
<td nowrap width="12%" valign="bottom">
$1,950
</td>
<td nowrap width="11%" valign="bottom">
36%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Annerly
</td>
<td nowrap width="10%" valign="bottom">
$1,385
</td>
<td nowrap width="12%" valign="bottom">
$2,000
</td>
<td nowrap width="11%" valign="bottom">
36%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Bowen Hills
</td>
<td nowrap width="10%" valign="bottom">
$1,458
</td>
<td nowrap width="12%" valign="bottom">
$2,100
</td>
<td nowrap width="11%" valign="bottom">
36%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Coorparoo
</td>
<td nowrap width="10%" valign="bottom">
$1,522
</td>
<td nowrap width="12%" valign="bottom">
$2,151
</td>
<td nowrap width="11%" valign="bottom">
35%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Albion
</td>
<td nowrap width="10%" valign="bottom">
$1,493
</td>
<td nowrap width="12%" valign="bottom">
$2,104
</td>
<td nowrap width="11%" valign="bottom">
35%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Newmarket
</td>
<td nowrap width="10%" valign="bottom">
$1,565
</td>
<td nowrap width="12%" valign="bottom">
$2,200
</td>
<td nowrap width="11%" valign="bottom">
35%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
South Brisbane
</td>
<td nowrap width="10%" valign="bottom">
$1,588
</td>
<td nowrap width="12%" valign="bottom">
$2,210
</td>
<td nowrap width="11%" valign="bottom">
35%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Hamilton
</td>
<td nowrap width="10%" valign="bottom">
$1,894
</td>
<td nowrap width="12%" valign="bottom">
$2,600
</td>
<td nowrap width="11%" valign="bottom">
34%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Fortitude Valley
</td>
<td nowrap width="10%" valign="bottom">
$1,590
</td>
<td nowrap width="12%" valign="bottom">
$2,179
</td>
<td nowrap width="11%" valign="bottom">
34%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
New Farm
</td>
<td nowrap width="10%" valign="bottom">
$1,620
</td>
<td nowrap width="12%" valign="bottom">
$2,200
</td>
<td nowrap width="11%" valign="bottom">
34%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Toowong
</td>
<td nowrap width="10%" valign="bottom">
$1,601
</td>
<td nowrap width="12%" valign="bottom">
$2,167
</td>
<td nowrap width="11%" valign="bottom">
34%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Milton
</td>
<td nowrap width="10%" valign="bottom">
$1,798
</td>
<td nowrap width="12%" valign="bottom">
$2,400
</td>
<td nowrap width="11%" valign="bottom">
33%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Red Hill
</td>
<td nowrap width="10%" valign="bottom">
$1,909
</td>
<td nowrap width="12%" valign="bottom">
$2,500
</td>
<td nowrap width="11%" valign="bottom">
33%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Kangaroo Point
</td>
<td nowrap width="10%" valign="bottom">
$1,679
</td>
<td nowrap width="12%" valign="bottom">
$2,167
</td>
<td nowrap width="11%" valign="bottom">
32%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Morningside
</td>
<td nowrap width="10%" valign="bottom">
$1,696
</td>
<td nowrap width="12%" valign="bottom">
$2,167
</td>
<td nowrap width="11%" valign="bottom">
32%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Herston
</td>
<td nowrap width="10%" valign="bottom">
$1,698
</td>
<td nowrap width="12%" valign="bottom">
$2,167
</td>
<td nowrap width="11%" valign="bottom">
32%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Spring Hill
</td>
<td nowrap width="10%" valign="bottom">
$1,613
</td>
<td nowrap width="12%" valign="bottom">
$2,058
</td>
<td nowrap width="11%" valign="bottom">
32%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Paddington
</td>
<td nowrap width="10%" valign="bottom">
$2,074
</td>
<td nowrap width="12%" valign="bottom">
$2,557
</td>
<td nowrap width="11%" valign="bottom">
31%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Balmoral
</td>
<td nowrap width="10%" valign="bottom">
$2,044
</td>
<td nowrap width="12%" valign="bottom">
$2,500
</td>
<td nowrap width="11%" valign="bottom">
31%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Fairfield
</td>
<td nowrap width="10%" valign="bottom">
$1,525
</td>
<td nowrap width="12%" valign="bottom">
$1,863
</td>
<td nowrap width="11%" valign="bottom">
31%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Auchenflower
</td>
<td nowrap width="10%" valign="bottom">
$1,795
</td>
<td nowrap width="12%" valign="bottom">
$2,167
</td>
<td nowrap width="11%" valign="bottom">
30%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Hawthorne
</td>
<td nowrap width="10%" valign="bottom">
$2,101
</td>
<td nowrap width="12%" valign="bottom">
$2,500
</td>
<td nowrap width="11%" valign="bottom">
30%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Grange
</td>
<td nowrap width="10%" valign="bottom">
$2,097
</td>
<td nowrap width="12%" valign="bottom">
$2,375
</td>
<td nowrap width="11%" valign="bottom">
28%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Norman Park
</td>
<td nowrap width="10%" valign="bottom">
$2,110
</td>
<td nowrap width="12%" valign="bottom">
$2,383
</td>
<td nowrap width="11%" valign="bottom">
28%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Ashgrove
</td>
<td nowrap width="10%" valign="bottom">
$2,083
</td>
<td nowrap width="12%" valign="bottom">
$2,340
</td>
<td nowrap width="11%" valign="bottom">
28%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Newstead
</td>
<td nowrap width="10%" valign="bottom">
$2,480
</td>
<td nowrap width="12%" valign="bottom">
$2,766
</td>
<td nowrap width="11%" valign="bottom">
28%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Bardon
</td>
<td nowrap width="10%" valign="bottom">
$2,287
</td>
<td nowrap width="12%" valign="bottom">
$2,492
</td>
<td nowrap width="11%" valign="bottom">
27%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
The Gap
</td>
<td nowrap width="10%" valign="bottom">
$1,937
</td>
<td nowrap width="12%" valign="bottom">
$2,100
</td>
<td nowrap width="11%" valign="bottom">
27%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Bulimba
</td>
<td nowrap width="10%" valign="bottom">
$2,410
</td>
<td nowrap width="12%" valign="bottom">
$2,600
</td>
<td nowrap width="11%" valign="bottom">
27%
</td>
</tr>
<tr>
<td nowrap width="18%" valign="bottom">
Wilston
</td>
<td nowrap width="10%" valign="bottom">
$2,049
</td>
<td nowrap width="12%" valign="bottom">
$2,167
</td>
<td nowrap width="11%" valign="bottom">
26%
</td>
</tr>
</tbody></table>
Source: Resolution Research
Dutton Park photograph courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
This article is under dispute, <a target="_blank" href="https://www.propertyobserver.com.au/queensland/dutton-park-mortgage-stress-debate-continues-as-resolution-research-stands-by-figures/2012112157971">as property analyst Michael Matusik has disagreed with its findings.</a>
 
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Aspirational Dutton Park tops list of 19 mortgage-stressed inner-Brisbane suburbs 

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The Perth median house price was unchanged over the September quarter at $482,000, following revisions to the June median house price, with sales volumes falling marginally, according to the Real Estate Institute of Western Australia (REIWA).
The institute had previously reported an unrevised June quarter median of $475,000.
The number of properties listed for sale fell 14% during the quarter to just 10,400 listings, well below normal levels of around 12,000 properties and down by 30% over the last year.
Rents remained unchanged at a median of $450 per week, but are up more than 10% over the past 12 months.
The combination of higher rents, a low rental vacancy rate of 1.8% (and unlikely to return to a balanced market level of 3%) as well as a “surging” population continues to build pressure on prices, according to REIWA president David Airey.
Airey said that while house prices were stable, turnover had been declining with the sales volume dipping by around 4% in the September quarter.
“Turnover is still around 25% higher than the same time last year, but the trend over the last few months shows this to be slowing. It might be a seasonal dip given that the winter months are sluggish, or it might be part a longer pattern we need to monitor.
“Interestingly, sales turnover for units, apartments and villas grew by around 3% in the September quarter, but with no movement in the median price in the multi-residential segment of the market.”
According to Airey, growth in the market for units valued under $350,000 is probably a reflection of the very strong first-home buyer activity.
“First-home buyer grants for the September quarter were at their highest level since 2009, before the first-home owner grant boost ended, and now account for around 30% sales,” he says.
“These listings include some 2,100 blocks of land, many of which are in the regions of Rockingham-Kwinana, Armadale-Serpentine, Gosnells, Swan and Cockburn,” says Airey.
Land in Rockingham starts from around $180,000 for a 442-square-metre block, while a 420-square-metre block in Armadale can be picked up under $100,000.
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Perth house prices unchanged in September quarter with first-home buyer numbers rising: REIWA

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The federal government remains on track to deliver a budget surplus this financial year, giving the Reserve Bank “maximum flexibility to cut interest rates” says Federal Treasurer Wayne Swan following the release of the 2012-13 Mid-Year Economic and Fiscal Outlook (MYEFO).
He also pointed out that mortgage holders are $4,500 a year better off due to cash rate cuts by the RBA while the current Labor government has been in power.
The cash rate was at 6.75% when Kevin Rudd was sworn in as prime minister in December 2007 and is now 350 basis points lower at 3.25%.
However, the MYEFO forecasts dwelling  investment  to be flat in 2012-13, before  growing 4% in 2013-14.
“Dwelling investment declined 3.3% in 2011-12 on the back of continued weakness in the detached housing market.
“Conditions across the sector are expected to improve gradually over the remainder of 2012, consistent with the solid growth in dwelling approvals and commencements seen in the June quarter.
“The recovery is expected to gather momentum into 2013-14, driven by a pickup in homebuyer demand, improved affordability following declines in house prices over the past two years and the assumption that interest rates will remain below average across the forecast period," says the MYEFO.
Announcing the release of the MYEFO, Swan emphasised the government’s efforts to return the budget to surplus “despite worsening global conditions cutting almost $22 billion from tax receipts”.
“Returning the budget to surplus also gives the Reserve Bank maximum flexibility to cut interest rates, as it has several times in the past year.
“Interest rate cuts since the government was elected in 2007 are saving a household with a $300,000 mortgage around $4,500 every year,” said Swan.
The government is forecasting real GDP growth at around trend of 3% in 2012-13 and 2013-14, a downgrade of 0.25 percentage point in 2012-13 compared with what was in the federal budget, but follows stronger than expected growth in 2011-12.
“While global headwinds, a high dollar and changing consumer behaviour are weighing on some sectors, the Australian economy is expected to outperform every major advanced economy this year and next, with growth underpinned by strong investment, strong growth in export volumes and solid growth in consumption.
“The unemployment rate is forecast to remain low at 5.5 per cent in 2012-13 and 2013-14, in stark contrast to the stubbornly high rates of unemployment seen across the developed world.
“Both headline and underlying inflation are expected to remain well contained over the forecast period, sitting within the RBA's target band,” says Swan.
Swan also pointed out Australia remains on track to return the budget to surplus “ahead of all major advanced economies”.
“The average net debt position of the major advanced economies (G7) is projected to peak at 95%t of GDP in 2016, almost 10 times higher than the peak in Australia's net debt of 10% of GDP in 2011-12.”
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Budget surplus gives RBA 'maximum flexibility' to cut rates but dwelling investment recovery a year off

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Australian households are at their highest levels of financial confidence since May 2011, with more than three-quarters (75.8%) expecting that house prices will grow or remain stable to the end of the year, according to the latest Commonwealth Bank/Mortgage &amp; Finance Association of Australia Home Finance Index.
This is up from 67.3% in March and 53.6% in the third quarter of 2011.
The number of respondents who believe that house prices will fall in the next quarter has dropped to just one-quarter (24.2%), from 32.7% in March and 46.4% in the third quarter of 2011.
Property market sentiment is highest in Western Australia, with 42.7% of WA respondents expecting prices to be higher over the next 12 months, followed by NSW, with 31.1% expecting higher prices over this time frame, although some 22.4% of NSW respondents expect lower prices.
<img src="/images/stories/2012/10/cba.gif">Victoria is polarised, with a fairly similar proportion expecting an increase (26.8%) and a decrease (29.0%).
The weakest expectations are in South Australia, where 18.9% of South Australian respondents expect property prices to  rise in the next 12 months and nearly a third (32.9%) expecting them to fall.
The overall sentiment index increased to 90.6, up from 84.0 in March 2012 and well above a September 2011 low of 73.5 suggesting continued growth in property prices in the coming quarter.
According to the survey, the uptick in home buyers' optimism is being driven by flat property prices and continuing falls in interest rates, creating a "buyer's market".
The results are based on a survey of 1,423 people carried out by CoreData between August 9 and August 31.
“All of the signs are for a recovery of the property market, with Western Australians the most optimistic of the states, followed by people in NSW. The property market is all about confidence and the survey confirms that good times are ahead, especially as interest rates continue to fall,” says MFAA chief executive officer Phil Naylor.
The survey also found that the proportion of first-time buyer respondents who believe it is a good time to buy a new home fell from 51.7% in March to 42.4% in September, with anxiety regarding servicing a large debt if a property were purchased the primary concern of first-time buyer respondents rising to 71%, up from 69.2% in the last quarter.
Slightly more first-time buyers are placing buying a home on hold due to the payments and level of borrowing required (56.2% vs. 54%), and delaying their first-home purchase due to economic uncertainty (43.4% vs. 40.0%).
Of those first-time buyers who say it is a good time to buy, they are encouraged because prices are low and rates are down.
WA first-time buyers are the most convinced it is a good time to buy (54.3%), followed by those in Queensland (50.0%). This is a reversal on March, when WA respondents were least convinced it was a good time to buy, suggesting that they may perceive that affordability has improved.
Only around 40% of first-time buyers in NSW, Victoria and South Australia believe it is a good time to buy their first home.
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Home buyer confidence at 18-month high but first-home buyers retreat: CBA/MFAA 

<html><body>
South Australian first-home buyers have the chance to secure $23,500 from the state government, provided they build a new home.
The $23,500 handout comprises a doubled first-home owner grant of $15,000 for contracts entered into on or after October 15 and up to a value of $575,000, plus a further $8,500 housing construction grant (HCG). The housing construction grant replaces the $8,000 first-home bonus grant.
The HCG is available to all builders of new homes for properties valued up to $400,000, phasing out for properties valued up to $450,000 where contracts are entered into between October 15, 2012, and June 30, 2013, inclusive.
Concessions could rise by $21, 330 if first-home buyers buy an apartment off the plan in the Adelaide CBD. This part of a new stamp duty concession scheme available on the transfer of a new CBD apartment or a "substantially refurbished apartment" for a contract entered into from May 31, 2012, to June 30, 2014, capped at stamp duty payable on a $500,000 apartment.
The reforms were announced by South Australian Premier Jay Weatherill and Treasurer Jack Snelling, who said they were “unashamedly about trying to kick start investment in new-built homes”.
In the last financial year, 8545 new homes were approved in SA, down from 12,560 in 2009-10.
Here’s a run-down of what’s available in each state:
NSW
A first-home buyer who purchases a $550,000 new home will get $35,240 in assistance.
This comprises a $15,000 grant for first-home owners who purchase or build a new home valued at up to $650,000. The grant is available until December 31, 2013, reducing to $10,000 from January 1, 2014.
Non-first-home buyers who buy a new home are eligible for $5,000 whether the new home is off the plan or newly built with a value up to $650,000, The $5,000 grant is also available to buyers of vacant land that is intended to be the site of a new home valued up to $450,000.
First-home owners are also eligible for a maximum stamp duty saving of $20,240 for homes up to a value of $550,000 with duty concessions for new homes valued between $550,000 and $650,000. The transfer duty exemption cap on vacant land is $350,000, with duty concessions for vacant land valued between $350,000 and $450,000.
 
<hr class="system-pagebreak">
 
Queensland
A $15,000 first-home owner construction grant (FHOCG) is available. The FHOCG applies to new property bought or built at a value under $750,000.
First-home buyers also pay no duty on purchases up to $500,000, with a phasing-out rebate applicable for values up to $600,000. 
For non-first-home buyers, the Queensland government offers a concessional stamp duty rate of 1% up to a value of $350,000, with stamp duty charged at normal rates for the remaining value of the home purchase. The buyer must occupy the home for a period of 12 months – an applicant may lose the concession if he sells or leases part or all of the home before moving in or within a year of moving in.
Victoria
A $7,000 first-home owner grant remains in place for both existing and new homes where the price of the property or construction of the home does not exceed $750,000.
From January 1, 2013 the <a href="https://www.sro.vic.gov.au/sro/sronav.nsf/LinkView/C88211C9E07486F0CA2578B70001025018E490D796850F8ECA2575C1008187C7">existing 20% stamp duty discount first-home buyers spending less than $600,000 on a house purchase will be increased to 30%.</a>
The stamp duty discount will rise to 40% on January 1 2014 and to 50% on September 1, 2014.
To qualify for the stamp duty discount, first-home buyers must also qualify for the federal $7,000 first-home owners’ grant.
WA
A $7,000 first-home owner grant remains in place for a newly constructed or established home. It does not apply to vacant land purchased to build a new home. The total value of the home must not exceed $750,000 if the property is located south of the 26th parallel of South Latitude, or $1 million if located north of the 26th parallel of South Latitude. First-home buyers eligible for the $7,000 grant pay no stamp duty on homes valued up to $500,000 and up to $300,000 for vacant land.
ACT
A $7,000 first-home owner grant remains in place for both existing and new homes where the price of the property or construction of the home does not exceed $750,000.
Tasmania
A $7,000 first-home owner grant remains in place for both existing and new homes, with no cap on the value.
Northern Territory
A $12,000 first home owner grant is available up to a maximum of $600,000 if the home is an established home in the urban area.
An urban area means all land located wholly within the boundaries of:
<ul>
<li>the Darwin, Palmerston or Litchfield municipalities;</li>
<li>Wagait Shire;</li>
<li>the Darwin Waterfront Precinct;</li>
<li>the “prescribed area” for the Darwin Rates Act.</li>
</ul>
Outside of urban areas, the grant amount is $25,000.
South Australia
South Australian first-home buy­ers buying off the plan have the chance to secure up to $23,500 from the state govern­ment, provided they buy or build a new home.
The $23,500 handout comprises a doubled first-home owner grant of $15,000 for contracts entered into up to a value of $575,000, plus a further $8,500 housing construction grant (HCG) available until June 30 2013.  
The HCG is available to all builders of new homes for properties valued up to $400,000, phasing out for properties val­ued up to $450,000 where contracts are entered into between October 15, 2012, and June 30, 2013, inclusive.
If you are purchasing a new or substantially refurbished apartment:
<ul>
<li>within the area of the Corporation of the City of Adelaide;</li>
<li>on any land within the area where the Bowden Redevelopment project (Bowden Village); or</li>
<li>on any land located within the area known as 45 Park, Gilberton;</li>
</ul>
you may be eligible for an off the plan stamp duty concession of up to $21 330 (capped at stamp duty payable on a $500 000 apartment), if your contract to purchase was entered into between 31 May 2012 and 30 June 2014. This concession is in addition to the first home owners grant.
If eligible, no stamp duty will be payable where the apartment has a market value of $500 000 or less. Where an apartment purchased has a market value greater than $500 000, you will be entitled to a stamp duty concession of $21 330. A calculator is available on the RevenueSA.sa.gov.ua website to determine the stamp duty payable and concession that could be applicable.
A partial concession will be available for contracts entered into between 1 July 2014 and 30 June 2016.
South Australian first-home buyers of established homes are entitled to a $5,000 first home owner grant expiring on June 30 2014.
</body></html>

State-by-state guide to first-home buyer grants as SA offers $23,500 new home carrot

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Nine out of 27 economists polled by Bloomberg expect the cash rate to fall to 2.75% in the first three months of 2012, the lowest it would be for RBA data going back to June 1959.
The RBA does not meet in January, so this would mean a further RBA cash rate cut in either February or March, assuming the RBA, as expected, cuts the cash rate on Melbourne Cup Day to 3%.
For data going back to January 1990, the lowest the cash rate has been 3%, from April 2009 to October 2009, following big cuts by the RBA to temper the emergency effects of the GFC.
Prior to 1990 the Reserve Bank did not publish an official cash rate setting,  but historical proxy data going back to June 1959 shows the cash rate fell to its previous lowest point of 2.89% in January 1960.
The expectation of the cash rate reaching a 52-year low was pointed out by <a href="/news">Business Spectator columnist and economist Stephen Koukoulas last week</a>.
Among the economists tipping the cash rate to fall to 2.75% in the first quarter of 2013 is Westpac chief economist Bill Evans, who is the first economist to correctly tip the RBA to begin cutting the cash rate in November last year.
In an economic update published last week following the release of the October RBA minutes, Evans indicated there was still scope for at least another 50 basis points of rate cuts, starting with one in November.
He said Westpac assesses that "the current policy stance while clearly in the stimulatory zone is still only around 70 basis points below neutral.
"Previous easing cycles have bottomed out in the 125-150 basis point range below neutral," said Evans.
Aside from Evans and Koukoulas,  the seven other economist tipping the cash rate to fall to 2.75% in either February or March are economists from London-based research consultancy 4Cast Ltd, French bank BNP Paribas, Citi, investment banks J.P. Morgan, Merrill Lynch and RBC Capital Markets and RBS  Equities (Royal Bank of Scotland).
Photograph courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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With 50-basis-point cut expectations, nine economists expect lowest cash rate since late 1950s

<html><body>
Boutique fund manager Ausbil Dexia has fallen into line and is now among 23 out of 27 economists tipping the RBA to cut the cash rate to 3% on Melbourne Cup Day, November 6.
In Bloomberg's October 12 survey of econ0mists, Ausbil Dexia was the only Australian-based financial institution tipping the RBA to leave the cash rate on hold at 3.25% in November, along with overseas-based institutions Capital Economics, Goldman Sachs, J.P. Morgan and Moody's Economy.com.
In the latest survey (October 19) Moody's has joined Ausbil Dexia in changing its expectation from a rate hold to a rate cut on Melbourne Cup Day, with Capital Economics, Goldman Sachs, J.P. Morgan and now also Deutsche Bank tipping the RBA to leave the cash rate unchanged on November 6.
According to its website Ausbil Dexia is an "Australian equities specialist with approximately $11 billion in funds under management".
The firm was established in April 1997.
It's core business is the management of "Australian equities and emerging leader investment portfolios for major superannuation funds, institutional investors and master trust clients".
The firm is headed by chief executive Paul Xiradis, who has 30 years of experience in funds management including roles at Westpac, Delfin and Mercantile &amp; General Reinsurance Group.
Ausbil's chief economist is John Honan who has worked for the Federal Treasury in Canberra and also held the position of chief economist for the NSW Treasury Corp.
Attempts to contact the fund were not successful, however in its most recent October Economic Observer, the firm remarks that the recent fall in commodity prices will continue to result in a deterioration in the terms of trade and "translate into an income shock to Australia, the expected impact of which we have already seen manifest in the October RBA rate cut".  
"In addition to this reduction, futures markets are pricing in another 0.75% worth of cuts over the next six months," Ausbil Dexia notes.
"The benefits of a lower official rate and Australian dollar should however be felt across the non-resources sectors of the economy; in particular the likes of tourism, housing and retail spending.  
"This signals the beginning of an inflection point where we expect the two-speed economy to converge into a more balanced one speed economy – resources contracting from high levels of growth whilst non-resources to improve from moderate levels of growth."
</body></html>

Odd one out, fund manager Ausbil Dexia joins Australian economists tipping Melbourne Cup Day rate cut: Bloomberg

<html><body>
The Sunshine Coast is the most expensive regional market to buy residential land, according to the latest HIA-RP Data Residential Land Report.
The median lot price on the Sunshine Coast is just under $250,000, around $25,000 more expensive than buying it on the Gold Coast.
Overall, sales of residential land picked over the June Quarter.
“The June 2012 quarter saw residential land sales rise by 23.3% to be up by 29.7% when compared to the same period in 2011,” said HIA chief economist, Harley Dale.
“Growth is from a low base and the result is exaggerated by a policy-induced pull-forward in land sales in New South Wales and Victoria. Nevertheless, land sales did rise in all six state capitals and in a majority of regional areas and that is an encouraging result.”
<img src="/images/stories/2012/10/exxyland.gif">
 
 
 
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Sunshine Coast most expensive regional market to buy land: HIA-RP Data

<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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