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The chairman of the Foreign Investment Review Board (FIRB) says xenophobic attitudes towards Chinese enterprises buying Australian assets will hurt Australia economically.
Speaking at Australian Institute of Company Directors (AICD) function in Perth this week, Brian Wilson beat a familiar drum urging that  foreign investment decisions should be made on a purely standalone commercial basis.
Wilson is a former investment banker, having been appointed to chair the FIRB in April this year.
His comments follow the issue of foreign ownership becoming a political hot potato over the sale of <a target="_blank" href="https://www.propertyobserver.com.au/news/cubbie-station-sale-to-chinese-supported-by-just-13/2012093056888">Cubbie Station</a>, a massive irrigation farm, covering around 1,000 square kilometres of south-western Queensland.
The mooted $300 million sale of Cubbie Station to a syndicate headed by the Chinese textile company Shandong Ruyi has been approved by Federal Treasurer Wayne Swan, following an assessment by the FIRB, which vets sales exceeding a threshold of $244 million.
The property near the Queensland-NSW border was placed into voluntary administration in 2009, with reported debts of more than $320 million.
Among those opposed to the sale is Nationals Senator Barnaby Joyce and independent Senator for South Australia Nick Xenophon.
However, local Nationals MP Bruce Scott, who holds the seat of Maranoa, where Cubbie Station is located, says the FIRB should decide with politics keeping out of the issue.
Federal opposition leader Tony Abbott in a speech in Beijing in August called for tougher rules governing foreign investment, adding that Chinese investment in Australia was more complex due the prevalence of state-owned businesses.
At the AICD function Wilson said Chinese investment into Australia would eventually become as accepted. He pointed to similar concerns when Japanese interests bought up a large number of Queensland tourism assets in the 1990s.
"I've got to say to you, if the Japanese wanted to buy a tourism property in Queensland now, I suspect everybody would get down on their hands and knees and say, 'Thank you'," he said in a speech reported by The Australian and the Australian Financial Review.
“With the nationalistic, xenophobic views of the world, the economic benefit foreign investment brings to our country is lost.
“Over time and with familiarity it will become less of an issue,” he added.
Wilson also highlighted that Chinese investment made up just 2.6% of foreign investment into Australia last year, though it is growing.
“The simple fact is success in trade leads to success in investment, and the current boom we have in investment from Asia says something about Australia’s place in the world.”
Wilson expects that a register of foreign-owned farmland being called for by Nationals and rural Liberal MPs will be created.
The vast majority of around 10,000 offshore real estate investments in Australia are approved every year.
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FIRB chairman Brian Wilson repeats call to keep politics out of Chinese foreign real estate investment decisions

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Australand managing director Bob Johnston and Westfield chief financial officer Peter Allen have been named among a lengthy list of candidates who could replace Stockland’s outgoing managing director and CEO, Matthew Quinn.
Quinn will step down from his 12 years in charge of Stockland in February.
The other candidates named by the Australian Financial Review and The Australian are Rod Leaver, CEO of Lend Lease Asia, former St George Bank CEO Paul Fegan, David Southon, co-founder and joint managing director of Charter Hall, veteran Macquarie banker Matthew Banks and the only internal candidate, John Schroder, current chief executive of commercial property at Stockland.
Stockland is due to make an announcement about Quinn’s replacement before the end of the year.
In terms of experience, Bob Johnston would be viewed by many as the most suitable candidate, with Australand operating a similar business model to Stockland with a diversified mix of residential and commercial property development activities.
Johnston has been managing director of Australand since 2007.
In a statement Stockland chairman Graham Bradley said the process to select and appoint a new managing director was progressing well with the board to “make an announcement in due course”.
The stock market appears unfazed over the uncertainty about leadership of Stockland.
Stockland’s market capitalisation has gained about $540 million since the start of the month to reach $7.9 billion.
It closed up 20¢ yesterday to $3.60.
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Australand’s Bob Johnston and Westfield CFO Peter Allen among possible replacements for Stockland's Matthew Quinn

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Meriton boss Harry Triguboff says there is room for the Reserve Bank to cut the cash rate by a lot more to help struggling property markets that have not been boosted by recent monetary policy easing.
Triguboff told Business Spectator’s Robert Gottliebsen that rate cuts had boosted the Sydney and Melbourne property markets, but he said markets like Queensland and the NSW central coast are still down around 20%.
“Think of these areas. They must rise. They need to rise desperately. We cannot have a country where only 20% of the properties go up and 60% go down while 20% are static.
“The interest rates have a lot further to go down without any fear of bubble,” said Triguboff.
Triguboff pointed to the example of the UK, where the current cash rate is 0.5% (since March 2009), but the country has not had a housing bubble due to cautious lending practices.
Meriton has no apartment projects on the NSW central coast, but has some of its biggest apartment projects are in Brisbane and on the Gold Coast.
Meriton's biggest project is the 81-storey Infinity residential tower in Brisbane, which is due for completion in late 2013.
According to the latest Midwood Report, <a href="https://www.propertyobserver.com.au/developments/gold-coast-new-apartment-stock-halves-in-two-years-midwood/2012100456971" target="_blank">Meriton has sold 287 of the 548 units at Infinity</a>, with plans to keep 259 as serviced apartments – a growing component of the Meriton business.
Earlier this year Meriton completed the 74-floor Soleil, also in the Brisbane CBD. Of the 414 apartments, only 33 remain unsold.
On the Gold Coast Meriton is building Brighton on Broadwater at Southport, with all 216 apartments in Portia (stage E) sold out, according to the Midwood Report.
However the report also notes that Regatta (stage C) is not proceeding.
The most September RP-Data Rismark index shows Brisbane-Gold Coast apartment prices down 4.6% year-on-year to a median of $370,000.
The August Residex regional report shows Central Coast house prices up 2.19% year-on-year with a median value of $375,500.
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Interest rates can fall 'a lot further' without housing bubble risk: Harry Triguboff

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The housing market is one of the sectors that will benefit from the "boom" in the number of Chinese tourists who visited Australia over the past 12 months as well as permanent migration numbers just off record highs, according to CommSec chief economist Craig James.
The latest ABS overseas arrivals and departure data shows that Chinese tourists were not put off by the high Australian dollar, with a record 56,600 visiting Australia over August – up 15.7% on a year ago for a 12-month total of 607,900.
James calls this "the other boom".
China is now Australia’s second biggest tourist market, having now overtaken the UK (48,700), with New Zealand (96,500) occupying top spot.
Putting this in to context, in 2000 about 100,000 Chinese visited Australia annually.
<img src="/images/stories/2012/10/commsecoct10.gif" width="470">
Overall tourist numbers were up 3.7% in August to 514,100 – also a record for data going back to 1976.
The same ABS data also shows that the number of “permanent arrivals” to Australia in the year to August was just below 160,000 and just off the record highs set in 2009.
“The surge in Chinese tourists to Australia together with the lift in migrant numbers to near-record levels are two key developments,” says James.
“Increased migration means greater demand for houses, cars and consumer durables.
“Rising Asian tourism injects valuable dollars into regional economies. Overall there is good news for housing and tourism-dependent businesses and regions,” he says.
James adds that the latest tourism figures should serve as a “wake-up call to those businesses that claim that they can’t operate with an Australian dollar perched above parity against the greenback”.
ABS figures showing that the number of Aussies travelling overseas for holidays or business fell by 0.2% in August after falling by 1.4% in July – only the second fall in six months.
In seasonally adjusted terms the tourism deficit – the gap between departures and arrivals – eased from a record 188,700 in July to 169,200 in August.
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Chinese tourist 'boom' and high migration numbers bode well for housing demand: CommSec's Craig James

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Melbourne residential developers are for the first time building more multi-unit projects featuring townhouses, apartments and flats than detached houses, according to the October report from property valuers Herron Todd White.
Affordability is the main driver of this shift in development focus as “people are pushed to build smaller more modest, cheaper homes".
“The transitioning mentality of the population in relation to buyer preferences is also another reason as people are developing an interest in terrace housing as it looks appealing and is essentially affordable," says HTW.
This trend was also noted by <a href="https://www.propertyobserver.com.au/victoria/hot-property-investment-opportunities-in-west-north-and-outer-east-melbourne-suburbs-apm/2012100757023">Austr</a><a href="https://www.propertyobserver.com.au/victoria/hot-property-investment-opportunities-in-west-north-and-outer-east-melbourne-suburbs-apm/2012100757023" target="_blank">alian Property Monitor’s (APM) senior research analyst Clinton McNabb </a>at the recent Melbourne Home Buyer and Property Investor show.
McNabb said comparison between the 2006 and 2011 census data shows rising numbers of single person and childless couple housing occupants, indicating an increasing  demand for higher-density living.
McNabb also said more families are now willing to live in apartments and willing to sacrifice space for location.
The HTW October report focuses on the northern suburbs of Melbourne, where many new residential communities are being developed, and where these macro forces have “put pressure on house prices and influenced demand for product".
“Areas such as the northern suburbs are experiencing a slide in demand since the expiry of the $13,000 new home bonus by the state government which was a huge stimulus for growth in the area,” says the report.
The bonus has been replaced by a with a 20% cut on stamp duty with another 10% discount to follow from January 1, building eventually to 50%.
“Developers have over compensated in suburbs such as Mernda and Craigieburn," says HTW.
“There is a large supply of estate houses for sale in these areas along with developments under construction which are experiencing less demand then what was originally planned for.
“In these areas there is little reason to celebrate as property prices have experienced a drop due to the lack of demand for these products ever since the incentives were taken away.
The report notes that developers have introduced their own incentives but “none are on the same scale of the first home owners’ bonus which led the way for demand for development in the area.”
Thinking about buying your dream land package? <a target="_blank" href="/news">Sign up for our free short courses.</a>
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Melbourne developers now building more multi-unit projects than houses: HTW

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Home buying sentiment surged 9.6% in October to its highest level in three years, according to the latest Westpac Melbourne Institute Index of Consumer Sentiment.
Westpac chief economist Bill Evans called this the “most encouraging result” from an overall disappointing reading of consumer sentiment in October.
The overall index increased by just 1 percentage point in October from 98.2 in September to 99.2 in October – the eighth consecutive month it has been below 100, indicating that pessimists outnumber optimists.
However, home-buying sentiment as measured by the "time to buy a dwelling" sub-index is now up 17.9% over the past two months and at its highest level since September 2009 – “the last period when the sentiment overall was surging strongly”.
“This message is consistent with other recent evidence of firming auction clearance rates. The response of the housing market to the recent rate cuts will be very important to watch,” says Evans.
The October survey of 1,200 was conducted in the week from October 1 to October 7, 2012. The RBA cut the cash rate by 25 basis points on October 2.
Evans called the overall result “disappointing”.
“There were a number of reasons to have expected the sentiment index to have increased by more than only 1%.
“Firstly, and most importantly, the Reserve Bank cut its overnight cash rate by 0.25 percentage points from 3.5% to 3.25%.
“Unlike some moves by the Bank which are fully expected by the media and therefore may not have a marked impact on confidence this move was not widely expected and therefore should have registered as a ‘pleasant surprise’ for respondents.
“Instead we saw the sentiment of those folks with a mortgage hardly move with a minuscule 0.6% increase.
“Of course a likely complication was the response of the major banks, most of which only announced their mortgage rate reductions on October 5 – five days into the seven day sample period – with reductions ranging from 0.18% to 0.20%,” says Evans.
He added that it remains of some concern that the index is "still significantly below its level of last November following the first 25-basis-point cut in the overnight cash rate.
"Since that time the Reserve Bank has cut the overnight rate by a further 125 basis points but the index is now 4.1% lower."
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Home buying sentiment surges to highest level in three years: Westpac Melbourne Institute Index

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Low rental vacancy rates, rising rents and eventually rising rental yields are expected to draw property investors back to the housing market and increase the supply of new housing, RBA deputy governor Philip Lowe has said following a speech in Hobart this week.
Lowe also said that the need for stronger housing and non-resource investment suggested the bias remains for interest rates to be lower to support ongoing jobs growth.
He acknowledged that construction remained one of the weakest sectors in the economy, particularly the residential construction sector, with an estimated 70,000 jobs lost in the past year.
Lowe made this observation while answering questions during a Q&amp;A session following a speech on structural changes in the labour market as part of a Financial Services Institute of Australaisa (FINSIA) event.
In its wrap of the Q&amp;A session, ANZ reported that Lowe “did not appear overly worried about relatively low interest rates reigniting a housing boom given household appetite for debt is relatively low, although the RBA will continue to monitor the housing market closely”.
Lowe said that despite the unemployment rate remaining between 5% and 5.25% over the last two years the labour market had weakened in the past months, with only modest aggregate employment growth, a decline in average hours worked, and a decline in the employment-to-population ratio.
He said the softer global outlook and this weaker labour market, combined with a contained inflation outlook, was behind the RBA’s October decision to set monetary policy to be “a little more accommodative than it had been”.
In his speech Lowe acknowledged that the RBA has to focus on “aggregate outcomes” but said the bank also tried to understand “what is going on beneath these aggregates, and how people's lives are being affected”.
In this regard he noted that the construction sector is one two industries (the other being public administration) that stand out as having “particularly weak employment growth over recent times.
“According to the ABS, there has been a net decline in [construction] employment of 70,000 over the past 12 months.
<img src="/images/stories/2012/10/absoct10.gif">
“Activity in important parts of the industry – including in house building and commercial construction – remains subdued, as does the immediate outlook, and this has led to a fair amount of job shedding,’” he said.
Lowe also said there was a possible link between the decline in employment participation and recent fall in demand for construction workers.
“There has been a large decline in the number of people who identify themselves as being self-employed and many of these worked in the construction industry.
“This weakness in the construction sector, particularly of new homes, has been one of the bigger surprises in the economic outcomes over recent times. Looking forward, a pick-up in construction activity is one of the factors that could provide an offset to the eventual moderation in the current very high level of investment in the resources sector. A pick-up in other forms of investment could also play this role.”
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Rising rental yields to draw investors back into housing market: RBA deputy governor Philip Lowe

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Damien Cooley, founder of Cooley Auctions, talks about starting his company nine years ago and how to be a great auctioneer. Just today he auctioned off a St Marys industrial offering for $730,000 , with six interested parties competing for the 3,700-square-metre Bent Street warehouse property at its Colliers International auction carried out in conjunction with PRD Nationwide Commercial Penrith.
<img src="/images/stories/2012/10/cooley.jpg">
How long have you been in the industry? I started in real estate in 1999 as a leasing clerk and property manager, and in 2003 I launched Cooley Auctions.
<img src="/images/stories/2012/10/damiencooley.jpg">
What’s happening in the area you specialise in? Auction activity has most definitely increased since the beginning of the 2012-13 financial year. There is an increase in the level of buyer activity, and vendors are being a lot more realistic on values and yields. Buyers are quick to rule out properties that have unrealistic price expectations or do not meet their purchasing criteria. Quality assets in quality locations are still performing well, and auction is creating the urgency to sell in a shorter period of time than any other method of sale.
Describe the most interesting property you have sold. A portfolio sale in Victoria for Colliers International. We auctioned a number of properties leased to Tobin Brothers funeral parlour. Interesting and exciting for me because it was the first time that I was rewarded by a seller for achieving a terrific result. Auctioneers are remunerated per auction without incentive, and in this case the seller doubled my fee. I was thrilled.
What are the ingredients to being successful in your job? Being a great auctioneer is about understanding people. I love being able to look at sale without emotion and advise the best way to attack it. My role is to get the best result for the seller. Auction creates urgency and potentially a competitive environment. My advice on auction day to a seller and agent is critical in achieving the best result. I achieve these results by creating an environment where buyers feel comfortable with open and transparent communication.
What aspects of your role do you enjoy the most? I love the excitement of chasing a deal and getting the best out of someone.
Where would invest a spare $750,000? I don’t think $750,000 gets you far in commercial real estate in Sydney. I’d be looking to leverage off that $750,000 as much as possible. I’d be looking close to Sydney CBD for something with a strong tenancy and an 8% + yield. Alternatively something around the inner west with potential re-zoning to residential.
Which football team do you support? The greatest rugby league team in the history of the game, South Sydney Rabbitohs.
What’s your favourite app or techno gadget? Twitter App and Emma, my in car sat nav that is so polite to me every single day
Follow Damien on Twitter: <a href="https://twitter.com/damiencooley" target="_blank">@damiencooley</a>; <a href="https://twitter.com/CooleyAuctions" target="_blank">@CooleyAuctions</a>
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In profile: Auctioneer Damien Cooley

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ANZ’s mobile lending division has relocated to a 95.85-square-metre office in the Sydney CBD at a gross rental of $450 per square metre per annum plus GST.
The five-year lease at level 4, 36 Carrington Street, was negotiated by Ray White Commercial office leasing director John Skufris.
ANZ mobile lenders travel to borrowers homes to provide information about the bank’s home loans and packages and help borrowers with their mortgage applications.
The building, formerly known as Korean Air House, is a 10-storey office block with ground-floor retail and basement parking for 12 cars.
<img src="/images/stories/2012/10/anzlend.jpg">
It is located near the Menzies Hotel above Wynyard train station and is directly opposite Wynyard Park.
Skufris says the new office offers "genuine convenience to major bus and rail interchanges, the Met Centre and Martin Place".
Other tenants in the building include wine retailer Vintage Cellars, Tourism Ireland and Godfrey Pembroke financial consultants.
There is now only one remaining whole floor measuring 257.5 square metres available for lease at 36 Carrington Street.
Level 8 at 36 Carrington St is undergoing refurbishment and will soon be offer for lease.
“The asking rent will be $475 per sqm per annum,” says Skufris.
According to the Savills third-quarter Sydney office report, B-grade gross office rents range from $550 to $730 per square metre, with A-grade rents between $680 and $1,005 and premium CBD office space available at $900 to $1,470 per square metre.
Recent Sydney CBD leasing deals include the Energy and Water Ombudsman leasing 1,436 square metres of office space at 133 Castlereagh Street at net rent of $550 per square metre.
The University of Sydney leased 1,714 square metres of space in the same building at net rent of $580 per square metre.
Sydney CBD vacancy rates contracted by 1.5 percentage point contraction from 9.7% in January to 8.2% in July – the largest decline of all CBD markets over this period, according to the most recent Property Council of Australia office  report.
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ANZ Mobile Lending relocates in Sydney CBD

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An investor has paid $340,000 at auction for a two-level brick retail building on three titles on Ryrie Street, a Geelong café and speciality retail strip surrounded by medical and professional services premises.
The price was exclusive of GST.
The investor, who hails from Rosebud on the Mornington Peninsula, will acquire some of the property via his self-managed super fund.
The property measures 184 square metres with two shops on the ground floor, one of which is occupied by tea leaf retailer Leaf Tea, with the other ground-floor shop currently vacant and a pedestrian thoroughfare running to a public car park at the rear.
<img src="/images/stories/2012/10/leaftea.jpg">
The second-floor premises run across the two shops and thoroughfare and is also vacant. It was previously tenanted by a dental surgery.
Leaf Tea pays $12,469 per year and is on a four-year lease, which commenced in January, with renewal options.
Fully leased, it is estimated the premises would return a gross yield of around 8%.
The property was marketed by Tim Darcy and Simon Jarman of Darcy Jarman real estate in Geelong.
Tim Darcy tells Property Observer there was “solid enquiry during the marketing campaign”, with most interested parties being investors looking to value add.
“The retail investment market in Geelong is currently strong. Well leased and located properties can produce yields in the range of 6% to 7.5%,” he says.
The site was marketed with development potential, with the investment report indicating that concept plans and sketches have been prepared relating to a potential upgrade of the property.
They propose turning the first floor into student accommodation and turning the vacant ground-floor shop into a café.
The investor memorandum says the City of Greater Geelong is supportive of the proposed upgrade and proposed uses.
Ryrie Street is the major east west link through central Geelong providing connection to the Bellarine Peninsula to the east and Geelong Bypass Road to the west.
It is surrounded by strong service, medical, and office related businesses, including St John of God Hospital, many real estate offices, Harwood Andrews Lawyers, City of Greater Geelong, Barwon Water and many other private medicos, solicitors and accountants.
The pedestrian-friendly area also includes plenty of cafes complemented with specialty retailers.
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Rosebud SMSF investor reads tea leaves to snap up Geelong retail spot for $340,000

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

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