<html><body>
WA's Consumer Protection agency is seeking an injunction against a brother-and-sister team promoting a rent-to-buy property scheme that accepted wedding rings and various family collectables, including a Real Madrid football jersey signed by David Beckham, in cases where tenant/buyers could not afford the upfront fees.
Commissioner for Consumer Protection Anne Driscoll has lodged a Supreme Court writ and will allege that Patricia and Bryan Susilo of the Perth suburb of Applecross engaged in misleading and deceptive conduct in breach of Australian consumer law.
She will further allege that they breached the Real Estate and Business Agents Act by acting as unlicensed real estate agents or implying that they were licensed real estate agents.
Rent-to-buy schemes are targeted at people who don’t qualify for home loans. Buyers agree to pay rent to the seller in return for being able to purchase the property at a later date.
Driscoll says an investigation into the activities of the Susilos indicates misleading statements have been made in advertisements for several properties. Driscoll also says misleading statements have been made about the nature of Patricia Susilo's interest in the properties.


"The alleged misleading statements in advertisements relate to her ownership of the properties and to the amount of weekly payments, which don't match the payments the proposed tenant/buyer was requested to pay. There is also no indication of the upfront option fee or the final price that is payable," Driscoll alleges.
"I am particularly concerned that, in the cases where the tenant/buyers do not have sufficient resources to pay the upfront option fee, Ms Susilo has taken wedding rings and various family collectables as part of the payment for the deposit. These included a Real Madrid jersey signed by David Beckham and a Franklin Mint edition Monopoly board. In another instance, Ms Susilo brokered the sale of a tenant/buyer's vehicle to raise the required deposit funds.

"The proceeds from the transactions are deposited into a bank account of a real estate agent in the eastern states and then transferred to Ms Susilo's personal bank accounts in WA. I am concerned that the funds do not go into a WA trust account and there is no separate account where money is stored for future deposits in accordance with the ‘option to buy' agreements."
 
<hr class="system-pagebreak">
 
The action against Patricia Mirawati Susilo and Bryan Artawijaya Susilo follows a successful June ruling against another rent-to-buy scheme instigated by Consumer Protection.

In June WA’s Supreme Court ruled that a rent-to-buy scheme operated illegally because the owners were not licensed estate agents and also misled potential clients.

The landmark ruling handed down by Master Craig Sanderson declared that <a target="_blank" href="https://www.propertyobserver.com.au/news/wa-rent-to-buy-scheme-ruled-deceptive-and-illegal-with-other-schemes-facing-investigation/2012060655009">unlicensed promoters of  rent-to-buy scheme No Loan Home Pty Ltd</a>, its sole director Filip (Fil) Butkovic and employee Nikola (Nik) Butkovic, of Nedlands, had engaged in misleading and deceptive conduct.

"Consumer Protection would urge anyone who is considering a rent to buy property proposal to seek further legal and financial advice before committing to a rent to buy contract as there are many reasons to be concerned about the legality of some of these schemes,” says Driscoll.

"We would strongly recommend that consumers only deal with licensed real estate agents in regard to purchasing property in WA. This gives much greater protection as there are laws that are designed to uphold consumer rights and safeguard their financial interests."

</body></html>

lschlesinger-FZcF9M3vE6

WA Consumer Protection targets rent-to-buy property scheme that took David Beckham jersey in lieu of deposit

<html><body>
The number of owner-occupier home loan commitments rose by a better than expected 1.8% in August to 45,821 loans, according to the latest seasonally adjusted ABS figures.
That was from an upwardly revised 45,021 loan commitments in July and above economist expectations of a 1.5% monthly rise.
The increase in home loan commitments in August follows RBA cash rate cuts in May and June totalling 75 basis points.
"A modest upward trend in housing finance to owner-occupiers is now apparent. New lending trended 1.2% higher in August, a turnaround from modest trend declines over the first five months of the year," says Westpac. "A greater number of FHBs are likely to enter the market over coming months, in what is the 'spring season', encouraged by improved housing affordability underpinned by lower interest rates.  "With the RBA more concerned about downside risks to economic growth over the year ahead there will be increased focus on the strength of the housing sector upswing and the likely boost to housing construction activity. "
The number of mortgage commitments for the purchase of new dwellings rose by a strong 13.9% to 2,341 in August, according to the ABS.
The number of loan commitments for the purchase of established dwellings rose 1.3% to 38,238.
In value terms owner occupier loans rose 1.3% to $13.65 billion.
Total housing finance by value rose by 0.6%, seasonally adjusted, to $20.3 billion.
On a state-by-state basis, whereas WA was the only state to record a rise for July, strength was more widespread in August, noted Westpac.
"For August, gains were reported for NSW (3.3%), Tasmania (3.3%), Queensland (4.1%), as well as WA (1.2%). Victoria softened for a second month (-1.2% following -1.1%), representing a let down effect in the wake of state government changes to first-home buyer incentives," says  Westpac.
First-home buyers share of finance declined to 18.6% from 19.2% for July, but Westpac says this is likely to be a short-lived dip. 
Loans for investment purposes recorded a 0.8% decline for August.
Housing Industry Association (HIA) chief economist Dr Harley Dale says the 2.6% increase in total housing finance net of refinancing in August 2012 marked the sixth consectutive rise.
"That is encouraging, but the base for the recovery has to date been too narrow.
"A recovery in the number of loans to first time owner occupiers appears to be entrenching itself, but lending to the larger ‘trade-up’ owner-occupier market has been losing momentum since March.”
“On the new home front, lending for the purchase of new dwellings increased strongly in August, which is an encouraging result, although a flat month in terms of loans for construction was disappointing.”
“After posting a strong increase in June, the number of loans for the construction of owner occupied dwellings largely flat-lined in July and again in August.
"Meanwhile, lending for the construction of new investment properties has been trending down since March.
"Hopefully interest rate cuts together with policy initiatives in NSW and Queensland will see a sustained improvement emerge in these key construction lending figures,” says Dale.
</body></html>

Home loan numbers rise 1.8% in August with strong bounce in new home lending: ABS

<html><body>
Harry Triguboff’s Meriton group has acquired a former industrial property in Rosebery in inner south-east Sydney with plans to build 200 apartments.
Meriton paid $21 million for the Rosebery site bringing the number of development sites acquired this year to six and the total amount spent on these sites to $200 million.
Triguboff is also tipping the cash rate to fall 125 basis points to 2%.
“They have to go down,” he says.
This year, Meriton has targeted development site acquistions within a 15 kilometre radius of the  Sydney CBD.
The six sites acquired this year have the potential for 2,000 new apartments worth $1.3 billion.
The biggest site acquired in 2012 is on Thomas Street in Chatswood on Sydney’s north shore, with approval for 547 apartments. Meriton paid $50 million for the Thomas Street car park with plans for two towers of 29 stories each, one of which will be retained by Meriton as serviced apartments – a growing part of the Meriton business.
In July, Meriton spent $48.5 million to buy the controversial Lewisham Estates development site which has amended potential for between 377 and 430 units.
Meriton has also acquired sites in Talavera Road in North Ryde (423 units), South Dowling Street, Zetland (400 units) and McEvoy Street. Waterloo (200 units)
Commenting on the Rosebery acquisition, Triguboff told The Australian it was the only area near the city that can take a large number of apartments.
"In Bondi or North Sydney, you can't get a big site - you are looking at only 100 or even 80 apartments."
Meriton already has a presence in Rosebery with its Valentino Place development on the corner of Epsom Rd and Rothschild Avenue featuring 265 apartments, completed in 2009. A one-bedroom apartment in Valentino Place with city views is available for rent at $510 per week.
Meriton is also reportedly looking at acquiring Brookfield's Sydney CBD site on the corner of Pitt Street and Bathurst Street.
Brookfield paid around $150m for the site four years ago, which has approval for a 65 storey apartment featuring 400 apartments over 65 storeys.
No deal on this acquisition has yet been reached.
</body></html>

Harry Triguboff’s Meriton group plans 200 apartments on newly acquired Rosebery site and tips cash rate to fall to 2%

<html><body>
BIS Shrapnel has revised up its expectations for new home building in NSW due to increased demand for new homes from first-home buyers following the introduction of the $15,000 state government handout on October 1, which only applies to buyers who buy or build a new home.
BIS Shrapnel is now forecasting around 40,000 homes to be built annually by 2015, up from the current average of around 30,000 homes year.
This jump would also lift the NSW residential building industry out of recession, according to the economic research firm.
August HIA figures revealed that the number of seasonally adjusted new detached house sales fell by 7% in NSW, while nationally, new home sales are at a 15-year low, averaging around 3,000 sales per month compared with more than 8,500 per month three years ago.
Since October 1, the state grant has been lifted from $7,000 to $15,000 for new homes valued up to $650,000, while a maximum stamp duty exemption of $20,240 is also available for homes worth up to $550,000.
Building commencements last peaked in September 2010 with 32,950 homes built over the prior 12 months, but has since dropped back 6% to 29,250 over 2011-12.
BIS Shrapnel associate director Kim Hawtrey says the expectations of a lift in residential building activity is based on what “what happened last time buyers of new homes were given special treatment [in 2008]”.
Then, the government lifted the $7,000 first-home owner grant to $21,000 for new homes purchased between October 2008 and January 2010.
''Before the 2008 boost, around 10% to 15% of Australia's first-home owners bought new homes or units,'' Hawtrey told Fairfax.
This jumped to 39% of all homes purchased by first-home buyers following the tripling of the grant.
According to Hawtrey, if the proportion of first-home buyers buying new homes currently jumps from 17% to 39%, as happened in 2008, this would mean an extra 8,200 first-home buyers would buy new homes. This is based on NSW Office of State Revenue figures, which show 37,500 NSW residents took out first-home owner grants in 2011-12.
In its September 2012 residential building report BIS Shrapnel forecasts lower interest rates and a recent fall in house prices has improved affordability to levels last seen in 2001 (excepting at the height of the GFC).


<hr class="system-pagebreak">
Alongside improved affordability, BIS Shrapnel expects a general strengthening of the NSW economy and improving consumer confidence.
In addition, it says a focus by the NSW government to improve planning processes and a desire to release new greenfield land packages will ease pressures on the supply side.
Prior to this expected recovery, BIS Shrapnel notes that residential building in NSW has been “persistently subdued over much of the last decade, averaging only 30,000 commencements annually since 2006”.
“Over the same period Victoria averaged 46,000 commencements, whilst even Queensland managed 34,000.
“Although residential building slumped over this period, population growth remained strong and consequently a significant stock deficiency has emerged, centred primarily in Sydney,”
This deficiency, says BIS Shrapnel, has “created significant pressure in residential property markets, driving price and rental growth and ensuring Sydney remains the least affordable capital city in Australia.
“Affordability has been a significant contributor to the lack of new dwellings built in NSW, alongside a complex planning framework and lack of suitable land releases.”
</body></html>

First-home buyer $15,000 grant to spark recovery in NSW new home building: BIS Shrapnel

<html><body>
Online lender loans.com.au has cut the variable rate of its ‘Dream Catcher’ home loan by 19 basis points to 5.46% and says it is offering the lowest standard variable rate home loan since July 1968.
The lender references the <a target="_blank" href="https://www.loansense.com.au/historical-rates">loansense.com.au</a>, a website that tracks the movement of home loan rates dating back to 1959.
In July 1968, the average standard variable interest rate was 5.38%.
According to mortgage comparison website Ratecity.com.au, another online lender eMoney is offering a variable rate of 5.40% on its pro pack 75 loan. The lender cut the interest rate on this product by 20 basis points.
A spokesperson for loans.com.au maintains that its offering is the lowest genuine standard variable rate home loan in Australia.
He says the real story is not the loans.com.au offering, but that variable rates on average are at their lowest level since 1968.
Loans.com.au managing director Marie Mortimer says borrowers would have to go travel back in time to the Mexico Olympics to find a cheaper variable home loan interest rate.
“The last time we saw rates this low, the number one record in Australia was Sadie by Johnny Farnham, Rod Laver had just beaten Tony Roche to win Wimbledon and Lionel Rose beat Fighting Harada in Tokyo to become the world bantamweight boxing champion,” she says.
Firstmac is an Australian lender based in Brisbane that has been involved in providing home loans for 30 years. It was founded by Kim Cannon. Firstmac obtains its funding from residential mortgage-backed securities (RMBS) market, also known as securitisation.
Loans.com.au also announced it has cut its three-year fixed home loan rate to 5.35% (comparison rate 5.74%).
On Friday, ANZ cut its standard variable by 20 basis points to 6.6%
Here’s a guide to the lowest standard variable home loan offerings:
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="134" valign="top">
Provider
</td>
<td width="124" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="116" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="134" valign="top">
eMoney
</td>
<td width="124" valign="top">
Pro Pack 75
</td>
<td width="97" valign="top">
5.40%
</td>
<td width="116" valign="top">
5.73%
</td>
</tr>
<tr>
<td width="134" valign="top">
Loans.com.au
</td>
<td width="124" valign="top">
Dream Catcher
</td>
<td width="97" valign="top">
5.46%
</td>
<td width="116" valign="top">
5.74%
</td>
</tr>
<tr>
<td width="134" valign="top">
State Custodians
</td>
<td width="124" valign="top">
Standard variable offset
</td>
<td width="97" valign="top">
5.64%
</td>
<td width="116" valign="top">
5.81%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="123" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
Greater Building Society
</td>
<td width="123" valign="top">
Ultimate Home  Loan Package Standard Fixed 1 year
</td>
<td width="95" valign="top">
5.29%
</td>
<td width="114" valign="top">
6.04%
</td>
</tr>
<tr>
<td width="137" valign="top">
Greater Building Society
</td>
<td width="123" valign="top">
Great Rate Fixed 1 year
</td>
<td width="95" valign="top">
5.34%
</td>
<td width="114" valign="top">
5.89%
</td>
</tr>
<tr>
<td width="137" valign="top">
Newcastle Permanent
</td>
<td width="123" valign="top">
Residential Fixed 1 year
</td>
<td width="95" valign="top">
5.38%
</td>
<td width="114" valign="top">
6.2%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="133" valign="top">
Provider
</td>
<td width="133" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="108" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="133" valign="top">
Loans.com.au
</td>
<td width="133" valign="top">
Three-year fixed home loan
</td>
<td width="97" valign="top">
5.35%
</td>
<td width="108" valign="top">
5.74%
</td>
</tr>
<tr>
<td width="133" valign="top">
Newcastle Permanent
</td>
<td width="133" valign="top">
Residential Fixed 3 year
</td>
<td width="97" valign="top">
5.38%
</td>
<td width="108" valign="top">
6.04%
</td>
</tr>
<tr>
<td width="133" valign="top">
ME Bank
</td>
<td width="133" valign="top">
Super Member Fixed Three years
</td>
<td width="97" valign="top">
5.39%
</td>
<td width="108" valign="top">
6.05%
</td>
</tr>
</tbody></table>
Source: Ratecity.com.au
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar <a target="_blank" href="/news">Refinancing and the Interest Rates Riddle</a>
</body></html>

Loans.com.au cuts standard variable offering to 5.46%: A guide to the lowest home loans in 44 years

<html><body>
The Adelaide detached housing market may be about to turn the corner but the unit market outlook is weaker with take up of new apartments remaining sluggish, according to the WBP Property Group.
The valuation and advisory firm places Adelaide houses at six o’clock on the property clock, indicating that the market has just bottomed out.
However, it says the unit market is still at five o’clock indicating that supply still exceeds demand.
<img src="/images/stories/2012/10/clock-generic.jpg">
<ul>
<li>At 12 o’clock the market is at its peak (demand exceeds supply)</li>
<li>At 3 o’clock the downswing has set in (an evenly supplied market)</li>
<li>By 6 o’clock it has bottomed out (an oversupplied market)</li>
<li>At 9 o’clock the market is rebounding (supply tightening)</li>
</ul>
WBP says the Adelaide residential market is showing “some signs of recovery, in particular well located stock that has realistic market expectations”.
"Property values appear to have stabilised in most parts of metropolitan Adelaide," says WBP.
However, it adds that recent announcements regarding BHP Billiton’s shelving of the Olympic Dam mining project expansion “may have a negative effect on the state economy and confidence”.
WPB says the Adelaide unit market is relatively flat “with a number of new unit apartment projects struggling to get off the ground as a result of lack of pre-sales and other funding issues”.
“Existing stock remains slow to move, with significant price reductions being experienced,” says WBP.
One of the biggest Adelaide apartment projects is the recently announced Mayfield mix-used urban regeneration project in the heart of the CBD, which will feature 427 apartments – including one-, two- and three-bedroom residences.
“Ongoing stamp duty incentives will only help projects like this succeed,” says WBP.
Under a two-year trial, stamp duty has been abolished for people who buy an apartment off the plan for under $500,000, but only in the Adelaide CBD and North Adelaide.
The $240 million Mayfield project covers the 7,377-square-metre site of the former Mayfield Electrics factory bordered by Sturt, Gilbert, Norman and Myers streets and is being developed by Sturt Land, having been designed by architects Woods Bagot.
In her departing speech as presiding member Adelaide City Council Development Assessment Panel (DAP) earlier this month, Shanti Ditter said developers needed to build a variety of dwellings including those that cater for families.
"DAP has expressed its concern that if that were to continue, the city will see lots of one and two bedroom apartments which will drive a particular sector of the market or demographic and potentially leave out another sector of the demographic that might be interested in living in the city,” said Ditter in a speech reported in The Australian.
According to the latest RP Data-Rismark monthly index, Adelaide house prices are up 1.1% to $385,000 for the three months to September 30 while unit prices have risen 3.4% over the same time frame to a median value of $315,000.
Adelaide first-home buyers can access the $7,000 first-home owner grant as well as up to $8,000 under a bonus grant that will cease from July 1, 2013.
</body></html>

Adelaide detached housing market has bottomed out but sluggish unit market still in a downswing: WBP

<html><body>
Finance broker Darren Moffatt has launched a beta-version of his social networking property site Housenet.com.au
The website bills itself as Facebook and Twitter for the property industry and is aimed at linking property owners, vendors and estate agents in an online community.
Moffatt says his aim is to get 20,000 members signed onto <a href="https://www.housenet.com.au/" target="_blank">Housenet.com.au</a> by January.
He said the estate agent response has been strong, but consumers and investors are now the fastest-growing sector of the user base.
“The number of listings has exceeded expectations at this early stage,” he says.
Housenet's features include a "property people" page where estate agents, mortgage brokers, developers and anyone involved in the industry can create a profile of themselves, connect with "friends" in the industry and link through to their property listings in the "marketplace".
<a href="https://www.housenet.com.au/" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/10/housenet2.jpg"></a>
Other features include an industry directory, blogging platform, forums and industry discussions groups.
Current users include property commentator, author and investor Jane Slack-Smith, McGrath agent for Ballina and Byron Bay Daniel Parker and regular Property Observer contributor and Richardson &amp; Wrench agent Robert Simeon. 
The website, which is based on a year of development and talking with people in the property industry, allows members to control their Facebook, Twitter and LinkedIn profiles from their Housenet account.
All content created on a user's Housenet profile can be distributed to their various social networking presences simultaneously.
Moffatt says this aspect of the website is revolutionary and cannot be done anywhere else.
Housenet also includes a marketplace, which provides an opportunity for Housenet.com.au members – be they consumers or estate agents – to list property for sale, rent or available as share accommodation as well as the opportunity to sell household goods.
Businesses and organisations can also create a profile on the website, and there is also an events calendar for open for inspections, open houses, industry events or social drinks.
 
<hr class="system-pagebreak">
 
Century 21 Australia, eChoice Home Loans and a number of Elders Real Estate branches have pages on Housenet.
Estate agents can upload statistics about their sales – prices, clearance rates, types of properties sold – which are then turned into charts on profile pages.
The site provides for the ability for others to rate and comment on listings, but also for the ability to switch off this function.
A basic subscription is free for both industry participants and consumers.
A free subscription includes the ability to join via Facebook, Twitter or LinkedIn, list property for sale with up to four images and create a profile page for a house or rental property.
Add-on features for consumers are charged at $20 per month and include the ability to create a featured listing with more photos and video content and send emails to others Housenet members.
A full industry sign-up is $79 per month or $49 for more restricted features.
Agents can also create their own ads and purchase traditional banner advertising on the site.
The site includes property news and hotspots features provided by Property Observer, industry news from SOLD magazine, mortgage news from Australian Broker and property information and trends provided by Residex.
In an interview with Greg Vincent of real estate technology site Business2, Moffatt said the aim of the site is to empower real estate agents and other property industry professionals and consumers and bring them all together in a way that has not happened before.
“We are trying to create a new category of social real estate…and bridge the gap between property portals and social media,” says Moffatt.
For estate agents, Moffatt says it’s a way for agents to brand themselves and tell their story online.
He says on the big property portals “everybody looks the same” and it’s very hard to get your own personal brand out there.
“It creates more depth for your digital identity and expands your digital footprint, which will help drive business your way,” he says.
</body></html>

'Facebook' for housing market launched by mortgage broker Darren Moffatt

<html><body>
The Melbourne property market tread water over July, August and September with house prices rising 1% and unit prices falling 0.7%, according to the latest data from the Real Estate Institute of Victoria (REIV).
In the September quarter, the Melbourne median house price increased from a revised June quarter median of $525,000 to $530,000 while unit prices fell from a median $445,000 to $442,000.
The previous unrevised June quarter median was $535,000.
REIV CEO Enzo Raimondo says once consumer confidence returns, capital growth will return.
Currently though, he says, prices remain stable as home buyers and sellers continue to act cautiously.
“The pattern this year has been low transactions and prices at the level they were in early 2010,” says Raimondo.
“A combination of lower interest rates, lower prices, an improving clearance rate and small improvements in consumer confidence should sow the seeds of a recovery in the residential housing market.”
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;">
<colgroup>
<col width="373">
<col>
<col width="102">
<col>
<col width="119">
<col>
<col width="96">
<col>
<col width="113">
<col>
</colgroup>
<tbody>
<tr height="21">
<td width="373" height="21">Inner Melbourne Median Prices</td>
<td width="102"></td>
<td width="119"></td>
<td width="96"></td>
<td width="113"></td>
</tr>
<tr height="64">
<td height="64">House Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$830,000</td>
<td>-3.3%</td>
<td>$858,250</td>
<td>-2.4%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$832,089</td>
<td>-1.0%</td>
<td>$840,196</td>
<td>-3.7%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$834,211</td>
<td>-0.4%</td>
<td>$837,646</td>
<td>-3.6%</td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="21">
<td height="21"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="64">
<td height="64">Unit and Apartment Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$486,000</td>
<td>-1.8%</td>
<td>$495,000</td>
<td>-2.8%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$487,631</td>
<td>0.0%</td>
<td>$487,533</td>
<td>-2.8%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$487,248</td>
<td>-0.2%</td>
<td>$488,157</td>
<td>-2.9%</td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="21">
<td height="21">Middle Melbourne Median Prices</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="64">
<td height="64">House Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$585,250</td>
<td>0.0%</td>
<td>$585,000</td>
<td>-1.6%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$590,535</td>
<td>1.5%</td>
<td>$581,986</td>
<td>-1.7%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$589,705</td>
<td>1.0%</td>
<td>$583,673</td>
<td>-1.8%</td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="21">
<td height="21"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="64">
<td height="64">Unit and Apartment Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$465,000</td>
<td>1.1%</td>
<td>$460,000</td>
<td>-1.4%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$461,335</td>
<td>0.1%</td>
<td>$460,653</td>
<td>-2.3%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$461,874</td>
<td>0.6%</td>
<td>$459,161</td>
<td>-1.9%</td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="21">
<td height="21">Outer Melbourne Median Prices</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="64">
<td height="64">House Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$422,000</td>
<td>0.0%</td>
<td>$422,000</td>
<td>-1.9%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$426,617</td>
<td>1.3%</td>
<td>$421,162</td>
<td>-1.0%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$426,289</td>
<td>0.9%</td>
<td>$422,649</td>
<td>-1.0%</td>
</tr>
<tr height="20">
<td height="20"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="21">
<td height="21"></td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="64">
<td height="64">Unit and Apartment Prices</td>
<td width="102">Sep-12 Quarter</td>
<td width="119">% chg to last q</td>
<td width="96">Jun-12 Quarter</td>
<td width="113">% chg to quarter last year</td>
</tr>
<tr height="21">
<td height="21">Original</td>
<td>$346,500</td>
<td>-2.4%</td>
<td>$355,000</td>
<td>-1.0%</td>
</tr>
<tr height="20">
<td height="20">Seasonally adjusted</td>
<td>$347,861</td>
<td>-1.8%</td>
<td>$354,205</td>
<td>-0.8%</td>
</tr>
<tr height="20">
<td height="20">Trend</td>
<td>$350,475</td>
<td>-0.3%</td>
<td>$351,365</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
The REIV has also, for the first time, introduced seasonally adjusted and trend quarterly data.
Seasonally-adjusted data takes into account seasonal, calendar-related movements while trend data reflects the long term movement of the median price and is considered as the underlying direction of the median price.
REIV spokesperson Robert Larocca says the seasonal data is more applicable to the December and March quarter data, when it will reflect seasonal variations.
“We have a lot more auctions in the December quarter and a lot fewer in March, which means that movement in the median price, in original terms, tends to be overstated in December and understated in March.
“It gives an additional level of analysis."
On a trend basis Melbourne house prices rose 1.8% while unit prices rose 0.8% with the more affordable middle and outer suburbs trending up and the more expensive inner city properties trending marginally down.
“REIV analysis of the market shows prices are beginning to trend upwards, particularly in the middle and outer suburbs. In trend terms the inner city median has dropped by 0.4% this quarter compared to an increase of 1% in the middle suburbs and 0.9% in the outer suburbs,” says Raimondo.
The highest growth was recorded in Thornbury where the median has increased by 11.4% to $750,000, in Yarraville with an 8.8% increase to $615,000 and Preston which recorded an 8.2% increase to $598,000.
The fringe suburbs of Mitcham, Cranbourne, Croydon, Greensborough and Rowville also recorded strong growth in demand and median prices over the quarter.
“Improvements in the middle and affordable price segments are also reflected in the fact that the median price of a house sold at auction dropped by 1.3% to $691,000 whilst one sold by private sale increased by 0.2% to $461,000.
In regional Victoria the median house price rose by a marginal 0.7% to $307,000 but are trending flat (-0.1%) while regional unit prices fell 1.7% in original terms to a median of $242,000 with prices trending down (-0.8%).
The three main regional recorded mixed results with the median price of a house in Ballarat increasing by 1.8% to $285,000, in Bendigo it dropped by 2% in the quarter to $301,000 and in Geelong there was a 6.1% to $362,000.
</body></html>

Melbourne property market treads water in September quarter but seeds sown for recovery: REIV

<html><body>
ANZ has cut its variable mortgage rates by 20 basis points today following its monthly interest rate review.
The bank's new standard variable mortgage rate will be 6.0% per annum (6.7% per annum comparison rate). but borrowers must wait until October 19 for the reduced rate to kick in - that's 17 days after the RBA cut the cash rate and the longest wait of all for big four mortgage holders.
It is also five days longer than ANZ usually takes to pass on cash rate cuts, according to recent research by the<a href="/news"> Economic Record</a>. 
The 0.2 percentage point decrease will save customers about $10.75 per week or $560 per year for the average home loan of $280,000.
NAB (new standard variable rate of 6.58%) and Commonwealth Bank (6.6%) have already passed on their rate cuts, with Westpac borrowers having to wait until Monday for the new SVR of 6.71% to take effect.
“Recent stability in wholesale funding markets has been offset by the impact of intense competition for retail deposits as banks seek to improve their funding mix in response to market and regulatory pressures," explanied ANZ Australia chief executive Philip Chronican.
“While this increase in competition is benefiting the majority of our customers through historically high deposit rates relative to the cash rate, last week’s decision from the RBA has provided some scope to once again reduce our variable lending rates."
Variable rates for small business lending will decrease by 20 basis points from October 19.
</body></html>

ANZ cuts variable rates by 20 basis points but borrowers must wait until October 19

<html><body>
Giddy-up punters, short odds are now on a Melbourne Cup Day rate cut on November 6, according to both economists polled by Bloomberg and interest rate futures markets.
The latest Bloomberg poll shows that 21 out of 26 economists polled expect the RBA to cut the cash rate in November.
In addition, swaps traders are pricing in an 80% chance of a cut on November 6.
They’re certainly a lot better odds than Dare to Dream, the three-year-old filly priced at 61 to 1. Mount Athos is the favourite at 8 to 1.
Last year French horse Dunaden won by a nostril from Red Cadeaux. Punters might also remember that the RBA cut the cash rate by 25 basis points to 4.5% on Melbourne Cup Day last yer, the first rate cut since April 2009, when the cash rate fell to 3%.
A rate cut on Melbourne Cup Day this year would bring the cash rate to that historic low, and who knows, perhaps Glenn Stevens, who has been under scrutiny on several fronts, might pick the winning horse as well.
Of the five economists not tipping a rate cut in November – three are well-known foreign-based institutions – Moody’s, JP Morgan and Goldman Sachs and another is also a global entity, Capital Economics, a macro-economic research firm.
The only Australian institution tipping rates to remain on hold is Ausbil Dexia, a boutique fund manager.
</body></html>

Punters can more than ‘Dare to Dream’ about a Melbourne Cup Day cash rate cut: Bloomberg

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

<section data-scroll-anchor="false" data-testid="conversation-turn-150" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-74" dir="auto">
Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
</section>

[smartcode_project_cta:default project_id=4896]

Joel Robinson

Above Zero launches Camberwell House in undersupplied Camberwell Junction precinct

<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]

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.

Larry Schlesinger

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News