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Westpac has reported its IO loans has dipped to 31 percent of its home loan portfolio.
It sat at 46 percent in late 2017.
An overview of <a href="/expert-insights/finance/anzs-home-loan-portfolio-shows-big-drop-in-interest-only-borrowers">ANZ's home loan portfolio</a> from their half year results investor pack also showed a big fall in interest-only loan borrowers.
Just 18 percent of their portfolio is IO compared with 26 percent this time last year and 36 percent in 2017.
NAB's IO loans have dropped to <a href="/news/nab-housing-lending-revenue-continues-to-drop-and-shareholders-pay-the-price">26 percent of their loan book</a>.
Some 84 percent of Westpac's entire portfolio has an 80 pecent or lower LVR.
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Westpac announced a reported profit of $3,173 million for 1H19.
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Cash earnings, the Group’s preferred measure of earnings, was $3,296 million, down 22%. 
The Group’s performance in 1H19 was impacted by major remediation and restructuring items: including provisions for estimated customer refunds, payments and associated costs of $617 million (after tax); and costs associated with the reset of Westpac’s wealth strategy announced on 19 March 2019 ($136 million after tax). Excluding these items cash earnings was down 5%.
Westpac Group CEO, Mr Brian Hartzer said it was "a disappointing result reflecting weaker business conditions and the bank dealing decisively with outstanding issues, including remediation and resetting our wealth strategy.”
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j.ballantyne1990-6AQqhLzZaK

Westpac sees IO loans shink to 31 percent of home loan portfolio

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An oceanfront Coral Cove residence sprawled over 2414 square metre north easterly facing allotment has been listed for sale.
Scott Mackey and Aaron Thompson of RE/MAX Precision have the listing. 
With uninterrupted 180 degree out look over the Pacific Ocean in the forefront, the Feng Shui inspired and designed home at <a href="https://www.domain.com.au/54-barolin-esplanade-coral-cove-qld-4670-2015185721" target="_blank">54 Barolin Esplanade </a>comprises five bedrooms, five bathrooms, three living spaces, three car attached accommodation, huge built in bar, wine cellar and 15 metre long pool.
The guest room at the front of the home on the lower level totally is separated from other bedrooms with ensuite and kitchenette facilities.
The family and games room features carved timber door upon entry, recessed gas fireplace plus a full-size wet bar with built-in seating and huge walk-in cellar with customised shelving.
<img src="https://www.urban.com.au/images/2019/4/26/coral%20cove%202.jpeg" alt="">
All bedrooms, living areas and kitchen (except formal dining) comes with split system reverse cycle air conditioning.
Formal living/lounge room and formal dining room offers ocean views. 
There is a 30 metre ocean frontage with title to high tide water mark.
<img src="https://www.urban.com.au/images/2019/4/26/coral%20cove%203.jpeg" alt="">
Additional features include security system, garden store room, electric front gates, huge laundry, high ceilings and quality window furnishing and pelmets.
It is two minutes away from Coral Cove Golf Club and 15-minute drive to the Bundaberg CBD.
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Oceanfront Coral Cove trophy home listed

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GUEST OBSERVATION
Train riders have to get to stations somehow. This is often referred to as the “first mile” or “last mile” problem. There are many technical solutions to help travellers get from home to the station and back, ranging from cars to electronic scooters, but most people use a much older technology, their feet, to get from A to B. What is seldom considered is access to the train platform itself.
Stations are not points but places. They occupy a large area. A person walking at average speed takes about two minutes to walk from one end of a full-length eight-car train to the other.
Often platforms have a single access point on one side of the station, which makes it more difficult for people on the other side of the station to get to the platform. Passengers may need to almost circumnavigate the station to get to the platform. At an average walking speed, the extra distance they must backtrack adds up to six minutes per trip each way, <a href="https://www.propertyobserver.com.au/http://hdl.handle.net/2123/20286" target="_blank">our research</a> has found.
Imagine being so unlucky to have an extra 12 minutes of travel time every day if you take the train. You might be tempted to drive instead.
<a href="https://images.theconversation.com/files/271648/original/file-20190430-194623-13icbq0.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/271648/original/file-20190430-194623-13icbq0.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
In a worst-case scenario, traveller lives west of the station with an east platform and works east of a station with a west platform, adding six minutes of travel each way, 12 minutes per day. Author provided
The table below shows the extra travel time in minutes depending on platform locations and access points for a traveller’s origin and destination. The average time for such a one-sided configuration of train stations is 3.25 minutes each way.
<a href="https://images.theconversation.com/files/271671/original/file-20190430-194616-1d5h24k.PNG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/271671/original/file-20190430-194616-1d5h24k.PNG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Travel times in minutes depending on access to platforms at stations used to get to work and home. Author provided
While this example is hypothetical, it is drawn from experience in Sydney, where 44 of 178 train stations have only a single side entrance.
So what impact will a second entrance have?
We examined those stations and access to their platforms: how many people lived within 5, 10 and 15 minutes of the station platform, considering actual entrance location, and how many jobs were within 5, 10 and 15 minutes of the platform. Using existing ridership data from Opal cards, we estimated a model that related the passenger entry and exit flows at each station to that station’s accessibility.
<a href="https://images.theconversation.com/files/271654/original/file-20190430-194620-1mn9wyq.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/271654/original/file-20190430-194620-1mn9wyq.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Accessibility at train stations across Sydney. Author provided
We sketched a second entrance at those 44 stations and measured accessibility again. It’s now higher, as having two entrances instead of one means more people can reach the platform in the same time. We then estimated the increase in ridership from the model due to the improved accessibility, assuming no change in population or employment.
Over all 44 stations, total morning peak period entries increased by 5%. But some stations benefit a lot, and others not at all, so prioritisation of investments matters.
It will be no surprise to locals that Erskineville station comes out on top with a nearly 35% increase. While many of the new apartment-dwelling residents west of the station make the extra hike every day, even more would catch the train if there were a convenient entrance.
Other top 10 stations include: Bankstown, Newtown, Villawood, Redfern, Burwood, Sydneham, Caringbah, Meadowbank and Penshurst. Planning is already under way to <a href="https://www.smh.com.au/national/nsw/redfern-station-on-track-for-new-lifts-as-part-of-100m-upgrade-20190226-p510ba">improve Redfern station</a>.
While this result considers existing development, adding a second entrance can make new transit-oriented development that much more valuable. This is because it will likely increase activity on the previously less accessible side of the station, as the example of Erskineville shows below.
<a href="https://images.theconversation.com/files/271652/original/file-20190430-194612-17wxfzk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/271652/original/file-20190430-194612-17wxfzk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Author provided
Other considerations include accessibility for people who cannot use staircases, as many of the stations are older and will require lifts. The <a href="https://theconversation.com/500m-for-station-car-parks-other-transport-solutions-could-do-much-more-for-the-money-114908" target="_blank">prospects of park-and-ride lots</a>, the costs of construction, the presence of nearby stations, and site feasibility also play into final decisions.
Our formal findings and detailed methods are written up in this report: <a href="https://www.propertyobserver.com.au/http://hdl.handle.net/2123/20286" target="_blank">Catchment if you can: The effect of station entrance and exit locations on accessibility</a>.<img src="https://counter.theconversation.com/content/115222/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
David Levinson, Professor of Transport, University of Sydney
Bahman Lahoorpoor, PhD Candidate, School of Civil Engineering, University of Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-to-increase-train-use-by-up-to-35-with-one-simple-trick-115222" target="_blank">original article</a>.
Main photo: <a href="https://www.propertyobserver.com.au/https://twitter.com/multimodalism/status/1103401167244017665" target="_blank">Chris Standen, used with permission</a>, <a href="http://creativecommons.org/licenses/by-nc-nd/4.0/" target="_blank">CC BY-NC-ND</a>
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How to increase train use by up to 35% with one simple trick

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Property technology group iBuildNew has announced a recent round of investment of $2 million, with RACV the lead investor taking a strategic stake in the business.
iBuildNew adds to RACV’s portfolio of investments in consumer technology that assists homeowners to make informed decisions, with other ventures including land checked and property safe.
The iBuildNew solution acts as a marketplace for Australians looking to build or invest in a new home and enabling them to search, compare and connect with builders and land developers.
While assisting buyers in their purchasing decisions, iBuildNew offers a service for home builders, land developers and other industry building professionals who can gain online brand exposure and potentially generate new leads and clients.
Designed to be the destination for people looking to build, it matches buyers to a range of options online while also supporting consumers with their offline phone advisory service.
CEO of iBuildNew.com.au, Daniel Peterson, said the recent investment in the platform will propel them to the next phase and enable further expansion.
"iBuildNew is an easy to use, convenient and accessible platform that solves a genuine need in the property market, especially for those in the new home construction market," he said.
"It can be a stressful journey for buyers, so iBuildNew is here to simplify the process, with builders, land developers and all their property offerings at the click of the button.
"Support from a business such as RACV, which is one of Victoria’s most trusted organisations, will be instrumental in iBuildNew’s growth.
"We expect to see continued traffic growth to the platform to access trusted advice for their homes, investment properties or just search and review what new home property is available."
RACV Home Executive General Manager, Nicole Brasz, said the organisation’s partnership with iBuildNew is another way RACV continues to assist and provide its members solutions at home.
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RACV invests in property technology group iBuildNew

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GUEST OBSERVATION
There are some anecdotes just so good that almost every story about a particular economic principle begins the same. So too this article begins with cake mix.
In the 1950, the story goes, US food company General Mills wanted ideas on how to sell more of its Betty Crocker brand of instant cake mixes. It put psychologist Ernest Dichter – the “father of motivational research” – on the case.
Dichter ran focus groups. Change the recipe, he then advised the company. Replace powdered eggs in the cake mix with the requirement to add fresh eggs. All-instant cake mix makes baking too easy. It undervalues the labour and skill of the cake maker. Give the baker more ownership in the final result.
And the rest is history.
<iframe src="https://www.youtube.com/embed/_ts9HLWh2qI?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Add eggs! Betty Crocker cake mix advertisement.
It’s likely this story is <a href="https://www.snopes.com/fact-check/something-eggstra/" target="_blank">extremely overegged</a>. Inconvenient facts include another company, <a href="https://www.mashed.com/66243/untold-truth-duncan-hines/?utm_campaign=clip" target="_blank">Duncan Hines</a> having a cake mix recipe using fresh eggs (developed by food chemist <a href="https://daily.jstor.org/duncan-hines-cake-mix-maker-extraordinaire/" target="_blank">Arlee Andre</a>) as early as 1951. And in 1935, the company P. Duff and Sons <a href="https://www.bonappetit.com/entertaining-style/pop-culture/article/cake-mix-history" target="_blank">was granted a patent</a> for a cake mix using fresh eggs.
<a href="https://images.theconversation.com/files/269739/original/file-20190417-139110-34pk5x.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/269739/original/file-20190417-139110-34pk5x.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
The P. Duff and Sons in 1935 patent. US Patent and Trademark Office
“The housewife and the purchasing public in general seem to prefer fresh eggs,” <a href="https://pdfpiw.uspto.gov/.piw?Docid=02016320&amp;homeurl=http%3A%2F%2Fpatft.uspto.gov%2Fnetacgi%2Fnph-Parser%3FSect1%3DPTO1%2526Sect2%3DHITOFF%2526d%3DPALL%2526p%3D1%2526u%3D%25252Fnetahtml%25252FPTO%25252Fsrchnum.htm%2526r%3D1%2526f%3DG%2526l%3D50%2526s1%3D2016320.PN.%2526OS%3DPN%2F2016320%2526RS%3DPN%2F2016320&amp;PageNum=&amp;Rtype=&amp;SectionNum=&amp;idkey=NONE&amp;Input=View+first+page" target="_blank">the patent reads</a>, “and hence the use of dried or powdered eggs is somewhat of a handicap from a psychological standpoint.”
Even the book sometimes credited as the source of the Dichter anecdote, Something from the Oven: Reinventing Dinner in 1950s America, by Laura Shapiro, says that “if adding eggs persuaded some women to overcome their aversion to cake mixes, it was at least partly because fresh eggs made for better cakes”.
Nonetheless it is the story of Dichter making a profound psychological insight into consumer behaviour that has passed into legend.
Almost seven decades later, the idea of making things more laborious to get consumers to value them more is an established marketing tactic.
We now know it as the “IKEA effect”.
Testing the IKEA effect
The IKEA effect – “that labour alone can be sufficient to induce greater liking for the fruits of one’s labour” – was named in a <a href="https://dash.harvard.edu/bitstream/handle/1/12136084/norton%20mochon%20ariely%20third%20round%5b1%5d.pdf?sequence=3&amp;isAllowed=y" target="_blank">2011 paper</a> in the Journal of Consumer Psychology by Michael Norton, Daniel Mochon and Dan Ariely. They chose the name because products from the Swedish manufacturer typically require some assembly.
Their paper also begins with the cake-mix story. It concedes there might have been other reasons General Mills increased its sales – an alternate view is that the icing on the cake was, in fact, <a href="https://www.bonappetit.com/entertaining-style/pop-culture/article/cake-mix-history" target="_blank">the icing on the cake</a> – but the authors were still enthused by the idea that “infusing the task with labour” was a crucial ingredient.
To empirically confirm this phenomenon, and its limits, they conducted experiments that involved assembling IKEA boxes, folding origami and building with Lego. The results showed participants valued items they assembled themselves more than items assembled by someone else.
The following graph shows the results from one of the experiments, in which participants were asked to fold origami cranes or frogs and then bid to buy the creations. The bidding phase also included origami made by expert folders. They tended to see their own creations as much more valuable than those made by other participants, and almost equal in value to the expert origami.
<a href="https://images.theconversation.com/files/269703/original/file-20190417-147487-1glzp2u.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/269703/original/file-20190417-147487-1glzp2u.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 Results show participants’ willingness to pay (WTP) for origami frogs and cranes made by themselves or others. Participants saw their amateurish creations as similar in value to experts’ creations, <a class="source" href="https://www.hbs.edu/faculty/Publication%20Files/11-091.pdf" target="_blank">Harvard Business School</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
The experiments also showed the effect had limits.
When participants spent too much time building or deconstructing their creations, or failed to complete the task, their willingness to pay for the item declined.
The following graph shows the results of the experiment in which some participants built an IKEA box, while others were allowed to complete only half the steps required to build the box.
<a href="https://images.theconversation.com/files/269717/original/file-20190417-139107-1sng0vr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/269717/original/file-20190417-139107-1sng0vr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Results shows participants’ willingness to pay (WTP) for assembled IKEA boxes. Those who built their boxes bid more for their creations than did incomplete builders. <a class="source" href="https://www.hbs.edu/faculty/Publication%20Files/11-091.pdf" target="_blank">Harvard Business School</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
Those who got to complete their box valued it much more, shown by their willingness to pay to keep it. “Most importantly,” the paper notes, “this increase in valuation was not limited to only participants who considered themselves DIYers.”
Related, but different, concepts
The IKEA effect is connected to, but not quite the same as, a number of other important economic behaviours.
First, there is the <a href="https://www.behavioraleconomics.com/resources/mini-encyclopedia-of-be/endowment-effect/" target="_blank">endowment effect</a>, in which simply owning a product increases its perceived value. Though this effect has long been recognised, it was formally named by economist Richard Thaler in a <a href="http://www.eief.it/butler/files/2009/11/thaler80.pdf" target="_blank">1980 paper</a>. Since then many studies have demonstrated that individuals usually want more money to give up something they own than they are willing to pay to acquire a similar item from someone else.
Second is the psychological idea of <a href="https://psychology.iresearchnet.com/social-psychology/attitudes/effort-justification/" target="_blank">effort justification</a>. This goes back to studies in the 1950s. The idea is that an individual who makes a sacrifice to achieve a goal rationalises the effort by attributing greater value to the achievement. In one celebrated study, for example, women made to undergo an embarrassing initiative to join a social group subsequently rated membership of that group higher than those who did not.
Third is personal preference, which is expressed in consumers <a href="http://www.acrwebsite.org/web/acr-content/640/emotional-attachment-to-brands-the-implications-for-marketers.aspx" target="_blank">being attached</a> to particular brands. Being involved in the creative process might be regarded as an extension of this attachment to individual tastes, something companies seek to leverage through customisation options.
In their experiments Norton, Mochon and Ariely were very careful to control for these effects. For example, none of the items they had participants assemble entailed customisation.
Their findings have been supported by subsequent studies that <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/j.1540-5885.2010.00768.x" target="_blank">disentangle ownership and personal preference</a> from valuing the fruits of one’s labour.
Convenience isn’t everything
Having customers do most of the work, feel great about it, and at the same time perceive they have attained “greater value for money’” is the Holy Grail for marketers.
Even if the Dichter cake-mix story is more legend than history, food and grocery brands are using the IKEA effect to attract new “value-seeking” customers.
Consider the “ready-to-create” meal kit – prepackaged raw ingredients you prepare and cook yourself. These meals seek to balance the desire for convenience with concerns about about healthy eating and the pleasure of cooking.
<img src="https://images.theconversation.com/files/269735/original/file-20190417-139110-4q1u95.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
A typical meal kit. Blue Apron
Brands getting in on the action include YouFoodz (known for its convenient “ready-made” meals) launching “<a href="http://www.foodanddrinkbusiness.com.au/news/youfoodz-expands-into-meal-kits" target="_blank">ready-to-create</a>” options, and Pataks (known for its “pre-made” curries in a jar) offering “<a href="https://www.pataks.com.au/products/pataks-curry-kits-2/%5D" target="_blank">curry kits</a>”.
Market research company Nielsen estimates more than <a href="https://www.nielsen.com/au/en/insights/news/2018/unlocking-growth-in-meal-kits" target="_blank">one million Australian households</a> will buy meal kits by the end of 2019.
While many retailers focus their efforts on <a href="https://theconversation.com/aussie-retailers-need-to-adapt-to-a-world-built-on-speed-78184" target="_blank">speedy deliveries</a> and ready-made, convenient solutions, the IKEA effect suggests the secret to success may be to make things a little more challenging.<img src="https://counter.theconversation.com/content/113647/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Gary Mortimer, Associate Professor in Marketing and Consumer Behaviour, Queensland University of Technology
Frank Mathmann, Lecturer (Assistant Professor), Queensland University of Technology
Louise Grimmer, Lecturer in Retail Marketing, Tasmanian School of Business and Economics, University of Tasmania
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-ikea-effect-how-we-value-the-fruits-of-our-labour-over-instant-gratification-113647" target="_blank">original article</a>.
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The IKEA effect: how we value the fruits of our labour over instant gratification

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A two bedroom Golden Square, Vic mortgagee home has sold for $290,000.
The two bedroom one bathroom house was sold on April 29.
Martin Skahill of Elders Real Estate held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-golden+square-130412838" target="_blank">1 Symonds Street</a>, the property was previously approved for a 3 lot subdivision (now expired).
Set on 652 sqm the current home only occupies a third of the holding. 
The property was unsuccessful when taken to Auction is September 2018 with a price guide of $299,000.
Last sold in 1986, the house traded for $66,000.
<a href="https://www.propertyobserver.com.au/subscribe" 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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/developments/golden-square-vic-3555">Golden Square</a> is $334,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 4.3%. 
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Two bedroom Golden Square, Vic mortgagee home sold for $290,000

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In Brisbane the permanent plantings and viticulture sectors are the stand out performers in Australian agribusiness industry, with large transactions occurring in 2018 across macadamias, citrus, avocados, almonds and vineyard sectors, according to Colliers International.
The latest Colliers International Agribusiness Research and Forecast Report found, water pricing and water tradability is enabling these sectors to continue to be developed even during the severe drought event.
Rawdon Briggs, Head of Agribusiness, Transaction Services at Colliers International said, “looking forward, agribusiness property values will hold firm in well recognised regions, despite the climatic challenges impacting on cashflows and cash reserves. This drought event has had higher commodity prices than we have seen in previous events over the past four decades."
“It shows in the resilience of the market data. The weaker AUD and free trade agreements are supporting export activity, partially offsetting the downside risks. Australian agricultural trade surplus has grown sharply for the past decade and will continue trending upwards. Agribusinesses is now a standalone asset class and will continue to attract investment from offshore and high net worth groups adding capital."
“Colliers International track completed land deals above $5 million across Australia, with this data showing increased sales numbers YoY to 2018, as the neighbour to neighbour market kicked into gear fuelled by lower cost of debt and higher commodity prices resulting in 254 deals and $3.34 billion in sales in 2018."
Mr Briggs added, "this calculation does not include three large deals executed in 2018, which have now settled in Q1 2019. If these had settled as planned in 2018, Australia would’ve surpassed the peak capital investment high of $3.45 billion and 242 deals completed in 2016.”
The report found that one of the best performers over the last year has been the Macadamia sector with land prices increasing and a steady nut supply. 
Colliers predict that established macadamia orchard demand will remain strong in 2019 and 2020. 
According to Colliers experts the Australian wine industry is approaching a point where demand will outstrip supply. This has translated into significantly higher volumes of property transactions.
Tim Altschwager, National Director, Agribusiness, Transaction Services at Colliers International said buyer enquiry has focussed on vineyards offering scale and efficiency or premium quality fruit. “Larger producers are also offering three and five-year grape supply agreements to secure supply and mitigate rising fruit prices.
“We observe continuing interest from overseas investors in Australian wine industry assets, particularly for premium assets, on the back of continued growth in the value of wine exports. Proven domestic industry operators are increasingly active.
“We expect this will increase competition for credentialed assets. Generally, less favourable growing conditions in South Eastern Australia will lead to a smaller 2019 wine grape crop compared to 2018. This will increase demand for wine grapes and place upward pressure on fruit prices and vineyard values,” stated Mr Altschwager.
Over the last 12 months, ground water prices in the Lower Murray (NSW), Murrumbidgee (NSW) and Katunga (VIC) have seen a sharp appreciation nearly doubling in market value.
Mr Nick Cranna, National Director, Agribusiness, Valuation &amp; Advisory Services said, "we anticipate that water entitlement prices will gradually rise in 2019 although it is difficult to see another year of strong capital appreciation as was experienced in 2018."
“In the unlikely scenario we receive normal inflows into the Southern Murray Darling Basin over the winter months we still believe this will have little bearing on water investors buy mandates into 2019 and 2020,” concluded Mr Cranna.
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Australian agribusinesses remain resilient: Colliers International

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Dexus, Australia's biggest office landlord, has purchased 80 Collins precinct, a commercial and hotel development for $1.5 billion.
The 80 Collins precinct is a large-scale site located in the Eastern Core of Melbourne’s CBD.
The precinct comprises 105,000 square metres of Net Lettable Area across an existing 47 level A-grade office tower, a new 35 level premium office tower, a new retail podium with 21 tenancies and a new 255 room boutique hotel.
New components of the 80 Collins precinct are currently being developed, with completion slated for 2020.
Dexus chief executive Darren Steinberg said the sale was completed on a passing yield of about 5.3 per cent and will be accretive to the 2020 financial year results.
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"This is right on our strategy and will provide an excellent return to Dexus shareholders in the future," Mr Steinberg said.
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"We are playing to our strengths and we see strong demand in the Melbourne office market."
With this acquisition Dexus will own or manage circa 20% of the total office stock (by area) in the Eastern Core post the acquisition of the 80 Collins precinct and the development of the neighbouring Dexus owned 52 and 60 Collins Street.
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Dexus purchase 80 Collins precinct in Melbourne

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GUEST OBSERVATION
The announcement that President Joko Widodo’s government will <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-04-29/jakarta-to-no-longer-be-capital-of-indonesia-planning-minister/11056306" target="_blank">move Indonesia’s capital</a> to another location, due to the severity of <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-04-29/jakarta,-a-city-under-pressure-from-a-growing-population/8480226" target="_blank">human-induced degradation in Jakarta</a>, highlights a key tension for cities today. In the face of increasingly unsustainable urban environments, do we retrofit existing cities, or relocate and build new cities to achieve greater sustainability?
The answer is both. But each has its challenges.
Creating new cities
The goal of turning cities from sustainability problems to solutions is driving a suite of “future city” innovations. These include the planning and development of whole new cities.
An <a href="https://www.weforum.org/agenda/2018/08/smart-cities-forest-city-belmont/" target="_blank">increasing number of countries</a> are planning to build cities from scratch using technological innovation to achieve more sustainable urban development. <a href="https://www.nst.com.my/property/2018/09/411211/forest-city-%E2%80%94-model-other-cities" target="_blank">Forest City in Malaysia</a>, <a href="http://smartcityaz.com/" target="_blank">Belmont smart city</a> in the United States and the <a href="https://www.theguardian.com/cities/2018/aug/06/five-years-ago-there-was-nothing-inside-duqm-the-city-rising-from-the-sand-oman-city-sand-luxury-hotels-housing" target="_blank">Sino-Oman Industrial City</a> are just some of the examples.
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Forest City is Malaysia’s biggest development project.
The urban ambition includes creating carless and walkable cities, green cities able to produce oxygen through eco-skyscrapers, high-speed internet embedded in the urban fabric, the capacity to convert waste into energy, and reclaiming land to create new strategic trade opportunities.
However, striking the right balance between innovative ideas and democratic expectations, including the public right to the city, remains a challenge.
<a href="http://www.mxcfilm.com/" target="_blank">The Minnesota Experimental City</a> offers a cautionary tale. The aim was to solve urban problems by creating a new city. It would use the latest technology including nuclear energy, automated cars and a domed roof enclosure.
Despite significant government and financial backing, including its own state agency, the Minnesota project failed due to a lack of public understanding and local support for a top-down futuristic project.
Who gets left behind?
In 1960, Brazil moved its capital from Rio de Janeiro to the futuristic city of <a href="https://brasilialifeafterdesign.com/" target="_blank">Brasilia</a>. While the city was designed to accommodate both rich and poor, it quickly became unaffordable for the average family. Half a century on, it was <a href="https://www.bbc.com/news/magazine-20632277" target="_blank">reported</a>: "The poor have been shunted out to satellite cities, which range from proper well-built cities to something more like a shanty town."
In Indonesia, more than 30 million people – <a href="https://www.thejakartapost.com/news/2014/09/20/the-need-a-national-urban-development-policy-indonesia" target="_blank">a fifth of the nation’s urban residents</a> and more than a tenth of the <a href="http://worldpopulationreview.com/countries/indonesia-population/" target="_blank">269 million population</a> – live in Greater Jakarta. The capital city Jakarta is just one part of a larger mega-city agglomeration, the world’s <a href="https://en.wikipedia.org/wiki/Jakarta" target="_blank">second-largest after Greater Tokyo</a>. This vast connected urban meta-region is known as <a href="https://en.wikipedia.org/wiki/Jabodetabek" target="_blank">Jabodetabek</a>, from the initials of the cities within it: Jakarta (with a population of 10 million), Bogor (1 million), Depok (2.1 million), Tangerang (2 million), South Tangerang (1.5 million) and Bekasi (2.7 million).
A key reason for moving the capital is that Jakarta is prone to serious flooding and is <a href="https://www.deltares.nl/app/uploads/2015/09/Sinking-cities.pdf" target="_blank">rapidly sinking</a>. Jakarta also suffers <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-04-29/jakarta,-a-city-under-pressure-from-a-growing-population/8480226" target="_blank">overpopulation, severe traffic gridlock, slums</a> and a lack of critical urban infrastructure such as drainage and sanitation.
Relocating the capital away from the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-04-29/jakarta-to-no-longer-be-capital-of-indonesia-planning-minister/11056306" target="_blank">crowded main island of Java</a> offers the opportunity to better plan the political and administrative centre using the latest urban design features and technology.
Two key questions arise. If environmental degradation and overpopulation are the key issues, what will become of the largely remaining population of Greater Jakarta? At a national scale, how will this relocation help overcome the <a href="https://theconversation.com/two-decades-of-economic-growth-benefited-only-the-richest-20-how-severe-is-inequality-in-indonesia-101138" target="_blank">socio-economic and spatial disparities</a> that exist in Indonesia?
Egypt, for example, is <a href="https://theconversation.com/egypt-is-building-a-new-capital-city-from-scratch-heres-how-to-avoid-inequality-and-segregation-103402" target="_blank">building a new capital city</a> to overcome severe urban congestion and overcrowding in Greater Cairo. But there is no guarantee the new capital will resolve these issues if the emphasis is solely on technological innovation, without adequate attention to urban equity and fairness.
More of the same in Australia
The Australian population is <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/3222.0" target="_blank">projected to grow to 36 million in the next 30 years</a>. This is focusing political, policy and public attention on what this means for the future of the nation’s cities.
Despite all the advances that have occurred in technology, the arts, architecture, design and the sciences, there is surprisingly little innovation or public discussion about what might be possible for 21st-century Australian settlements beyond the capital cities.
Future Australian city planning and development focuses largely on enlarging and intensifying the footprints of existing major cities. The current urban policy trajectory is in-fill development and expansion of the existing state capital mega-city regions, where <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3218.0Main%20Features12017-18?opendocument&amp;tabname=Summary&amp;prodno=3218.0&amp;issue=2017-18&amp;num=&amp;view=" target="_blank">two-thirds of the population live</a>. But what is lost through this approach?
In Australia only two ambitious “new city” plans have been put forward in the last 50 years: <a href="https://crawford.anu.edu.au/pdf/pep/pep-283.pdf" target="_blank">the Multifunction Polis</a> (MFP) and <a href="http://www.clara.com.au/index" target="_blank">the CLARA Plan</a>.
In the late 1980s the MFP was envisaged as a high-tech city of the future with nuclear power, modern communication and Asian investment. It failed to gain the necessary political, investment and public support and was never built.
The current CLARA Plan proposes building up to eight new regional smart cities connected by a high-speed rail system linking Sydney and Melbourne via Canberra. Each of these cities is designed to be compact, environmentally sustainable and just a quick train trip away from the capital cities.
CLARA has outlined a “<a href="https://theconversation.com/explainer-what-is-value-capture-and-what-does-it-mean-for-cities-58776" target="_blank">value capture</a>” business model based on private city land development, not “government coffer” funding. How these new cities propose to function within the constitutional framework of Australia is as yet unclear and untested.
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The privately funded CLARA plan is to build up to eight compact, sustainable, smart cities connected via high-speed rail.
A bipartisan challenge
Are we thinking too narrowly when we talk about future Australian cities?
The “future city” prompts us to rethink and re-imagine the complex nature and make-up of our urban settlements, and the role of critical infrastructure and planning within them.
The future of Australian cities will require creativity, vision (even courage) to respond effectively to the challenges and opportunities of sustainable development.
This will not be the remit of any one political party, but a bipartisan national urban settlement agenda that affects and involves all Australians.<img src="https://counter.theconversation.com/content/116266/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Wendy Steele, Associate Professor, Centre of Urban Research and Urban Futures Enabling Capability Platform, RMIT University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/indonesia-isnt-the-only-country-planning-new-cities-why-not-australia-116266" target="_blank">original article</a>.
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Indonesia isn’t the only country planning new cities. Why not Australia?

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The Melbourne suburb of Reservoir is host to the highest volume of auctions this weekend, with 16 homes set to go under the hammer, according to CoreLogic.
Next busiest are Coburg and Epping, also in Melbourne, with 12 scheduled auctions each.
This week, the number of auctions scheduled to take place across the combined capital cities is expected to rise, with 1,384 currently being tracked by CoreLogic, increasing from the 1,026 auctions held last week at final results.
Over the same week, last year a much higher 2,311 auctions took place across the capital cities.
Both Melbourne and Sydney are expected to see an increase in activity this week, with 632 homes scheduled for auction across Melbourne, while Sydney is set to host 503 auctions, increasing on the 498 and 332 auctions held last week respectively.
The smaller auction markets will also see a higher volume of homes auctioned week on week with the exception of Brisbane where fewer auctions are scheduled.
<img src="https://www.urban.com.au/images/2019/5/2/May%205%20Auction%20stats.JPG" alt="">
The busy auction weekend in Reservoir sees <a href="https://www.realestate.com.au/property-house-vic-reservoir-130896838" target="_blank">22 Knox Street</a> (pictured in title) offered.
The property going under the hammer is a three bedroom one bathroom house.
It comes with a price guide of $780,000 - $850,000.
<img src="https://www.urban.com.au/images/2019/5/2/Reservoir%20May%205%20Auction%202.JPG" alt="">
Another example of the breadth of auctions taking place in Reservoir is <a href="https://www.realestate.com.au/property-unit-vic-reservoir-130951802" target="_blank">3/8 Duffy Street</a> (pictured above).
The property going under the hammer is a two bedroom one bathroom villa.
It comes with a price guide of $510,000 - $550,000.
<img src="https://www.urban.com.au/images/2019/5/2/Reservoir%20May%205%20Auction%203.JPG" alt="">
A third property going to auction in Reservoir this week is <a href="https://www.realestate.com.au/property-house-vic-reservoir-129112970" target="_blank">85 Barry Street</a> (pictured above).
The property going under the hammer is a three bedroom one bathroom house.
It comes with a price guide of $550,000 - $600,000.
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Reservoir set to be busiest weekend auction hotspot

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

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

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

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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