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Following an ASIC investigation, Max Eung, of Tempe, New South Wales has been charged with two offences of obtaining financial advantage by deception.
ASIC alleges that between March 2016 and December 2016, Mr Eung dishonestly obtained a financial advantage of funds totalling $166,500 from accounts held with MLC Limited and Nulis Nominees (Australia) Limited in circumstances where the account holders did not authorise the withdrawal of those funds from their accounts.
Mr Eung was an authorised representative and financial adviser of NAB from May 2015 to December 2016.
He was permanently banned by ASIC from providing financial services and engaging in credit activities in June 2018.
The offences each carry a maximum penalty of 10 years imprisonment.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
The matter has been adjourned by consent for further mention on 7 May 2019 at the Downing Centre Local Court in Sydney.
<a href="/news/asic-permanently-bans-former-nab-financial-adviser">Last June ASIC permanently banned Max Kiattisak Eung</a> (also known as Kiattisak Eungpongpan) from providing financial services and engaging in credit activities.
While he was a financial adviser with NAB, it was alleged that during this period Mr Eung engaged in conduct including:
<ul>
<li>creating two false bank accounts in the names of his clients;</li>
<li>falsifying documents to open the false bank accounts;</li>
<li>causing withdrawals to be made from client funds to the false bank accounts and misappropriating client funds; and</li>
<li>impersonating his clients to attempt to obtain access to funds in the second false bank account.</li>
</ul>
Subsequently, Mr Eung incorporated a company for the purpose of operating a mortgage broking business and became a Credit Representative to provide credit assistance within that business.
ASIC found that Mr Eung had engaged in dishonest conduct, was likely to contravene a financial services law, and was not of good character. ASIC also found that Mr Eung was likely to contravene credit legislation and was not a fit and proper person to engage in credit activities.
Eung was an authorised representative and financial adviser with NAB from 21 May 2015 to 20 December 2016 and a credit representative of Connective Credit Services Pty Ltd from 14 September 2017 to 23 October 2017.
Eung’s banning will be recorded on ASIC’s Banned and Disqualified Persons Register and the Financial Advisers and Credit Representatives Registers.
The banning of Mr Eung is part of ASIC's Wealth Management Project.
The Wealth Management Project was established in October 2014 to lift the standards of major financial advice providers.
As part of its Wealth Management Project, ASIC has banned 47 advisers and one director from the financial services industry. Four bannings are the subject of appeals, with a further banning stayed pending the outcome of an appeal.
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Former NAB financial planner Max Eung faces jail over client fraud

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A Charter Towers City, Qld mortgagee home has sold for $145,000 after five and a half years.
This marks a price reduction of $35,000 on its 2007 sale price of $180,000.
Gail Hooper of Geaneys Real Estate held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-charters+towers+city-130516218" target="_blank">32 Oxford Street</a> the property is a four bedroom one bathroom house.
Set on a fenced 1008 sqm allotment, it is a timber home with concrete stumps.
First listed in November 2013 it had an asking price of $320,000, however by January 2015 it had been reduced to $215,000.
The most recent recorded asking price back when Raine &amp; Horne held the listing in February 2019 was also $215,000.
It was rented for $270 per week, according to a previous listing from 2015.
<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 home in <a href="/developments/charters-towers-city-qld-4820">Charter Towers City</a> is $124,500 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -5.6%.
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Charters Towers City, Qld mortgagee home sold for loss after 5 years on the market

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A South Morang, Vic home has sold under the mortgagee auction hammer for $5,000, above the price guide.
The three bedroom two bathroom house came with a price guide of $360,000 - $395,000.
Brett Sparks and Brook Patto of Millership and Co held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-south+morang-130766666" target="_blank">4 Pace Circuit</a> the property sold for $400,000. 
The 2010 built property is set across two storey's on 208 sqm.
This is an increase of $44,000 on its 2016 sale price when it traded for $356,000.
Located at the top of the court, it is minutes from Westfield, the train station and local schooling.
<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 home in <a href="/developments/south-morang-vic-3752">South Morang</a> is $643,750, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 6.4%.
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South Morang, Vic mortgagee home sold above price guide

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The Sydney suburb of Vaucluse is set to be the busiest place for auctions this Easter week with 7 homes expected to go under the hammer, according to CoreLogic
Next busiest is Sydney’s Rose bay, which has 6 auctions scheduled, followed by Cronulla, Leichhardt and Randwick, also in Sydney, which will be hosting 5 auctions each.
The Easter long weekend is expected to see a very low number of homes taken to auction, with only 386 scheduled auctions this week across the combined capital cities.
Easter is one of the quietest weeks of the year in terms of auction volumes.
<img src="https://www.urban.com.au/images/2019/4/18/Upcoming%20auctions%20APR%2018%202.JPG" alt="">
Over the Easter weekend last year there were 670 homes taken to auction.
Almost 60 per cent of all capital city auction activity is scheduled to take place in Sydney this week (220 auctions), while in Melbourne, just 48 auctions will be held.
118 auctions are scheduled to take place across the remaining capital cities, with 21 of those scheduled to take place in Brisbane and 46 in Adelaide.
Canberra is set to host 35 auctions this week, while Perth is expecting 16 auctions. There are currently no scheduled auctions in Tasmania this week.
<img src="https://www.urban.com.au/images/2019/4/18/Upcoming%20auctions%20APR%2018%201.JPG" alt="">
One example of the auctions taking place in Rose Bay this week is <a href="https://www.realestate.com.au/property-apartment-nsw-rose+bay-130752534" target="_blank">6/696 Old South Head Road, Rose Bay</a> (pictured in title).
In the suburb adjacent to Vaucluse, this penthouse style two-level apartment atop Kingsview is for sale without a price guide.
The three bedroom two bathroom apartment features 180° district views to the ocean and across Rose Bay golf courses to Bellevue Hill. 
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Vaucluse set to be busiest Easter week auction suburb

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Oxfam has announced it will close its Australian retail arm, closing all 13 stores.
The not-for-profit, part of the international Oxfam confederation, has a 50-plus-year retail history in Australia.
It began with Community Aid Abroad shops, later rebranded to Oxfam.
The sale of fair and ethical products has helped fund its charitable operations.
It opened two new format stores in Sydney back in 2016, but the SmartCompany website noted the organisation had been unable to beat the retail blues.
“We know this will be very difficult news for our staff and volunteers — and our customers — given how highly regarded Oxfam Trading has been over many years,” Oxfam Australia chief operating officer Tony McKimmie said.
“We sincerely thank them all for their dedication and significant contribution to our core mission of tackling poverty.”
McKimmie cited declining revenue in retail and wholesale channels, including flat online sales growth, as the financial factors behind the shutdown.
It reported the big players — Vinnies and Salvos — have been disrupted but are working quickly to revise their retail strategies. 
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Oxfam shuts its retail doors in Australia after 50 years 

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The relocation of a Brookvale Holden car dealership will pave the way for Chemist Warehouse’s fourth outlet on Sydney’s northern beaches.  
Chemist Warehouse has signed a five-year lease (with five-year option) on the freehold property at 2-4 Roger Street.
It housed Col Crawford Holden for several decades.
Chemist Warehouse will occupy the corner section of the property, with the remaining 410 square metres of space still available for lease.  
The property is located in a prime corner position adjacent to established marine operator Whitworths, with excellent exposure to Pittwater Road and Cross Street.
The property provides onsite parking for 18 vehicles.  
CBRE’s Amy Pfeiffer negotiated the lease on behalf of Col Crawford Pty Ltd for an annual net rental of approximately $500 per square metre.  
“Previously home to one of the northern beaches’ most well-known car dealerships, the site is arguably one of the best retail locations in Brookvale,” Pfeiffer said.
"The proximity of the premises to both Warringah Mall and Pittwater Road was a major drawcard for the national chemist retailer.”
This fit's into Chemist Warehouse’s current and ongoing plans for expansion, which include the intention to open around 30 new pharmacies each year.
Including the recent opening of their 400th outlet at the Kingston Central Plaza on a 500 sqm site in Moorabbin.
Chemist Warehouse has recently expanded into New Zealand with its first New Zealand store opening it's doors in St Lukes, Auckland, in late 2017.
They now have 5 CWH locations in Auckland alone.
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Col Crawford Holden's relocation allows Chemist Warehouse to open fourth Northern Beaches outlet

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GUEST OBSERVATION
With the re-election of the Berejiklian government, New South Wales now has a minister for public spaces, Rob Stokes. This portfolio was <a href="https://www.nsw.gov.au/your-government/the-premier/media-releases-from-the-premier/new-minister-for-public-spaces-protections-for-public-land-150-million-for-new-parks/" target="_blank">first mooted in February</a>, when the premier announced one of the new minister’s tasks would be to identify and protect publicly owned land for use as parks or public spaces.
As important as this task is, we need even more ambition in this portfolio. Public space is crucial to the social, economic, political and environmental life of our towns and cities. As well as increasing the quantity of public spaces, we need to improve their quality.
Here are ten priorities for government action to make our public spaces more plentiful and more accessible to all.
1. Rein in privately owned public spaces
From Barangaroo to Bonnyrigg, public spaces in new urban developments are often owned and controlled by private developers. The public has little say over the rules that govern these spaces and how those rules are enforced. Restrictions are often excessive, and private security guards are <a href="https://www.smh.com.au/national/nsw/security-company-apologises-after-reporter-accosted-at-malcolm-turnbull-event-20181118-p50gqi" target="_blank">known to overstep their powers</a>.
The minister for public space should <a href="https://www.theguardian.com/cities/2017/jul/24/revealed-pseudo-public-space-pops-london-investigation-map" target="_blank">map the extent of privately owned public spaces</a> and ensure these are governed by the same, democratically determined laws that cover publicly owned public spaces.
2. Strategic purchases of private land
As well as identifying publicly owned land that could be used for parks or public spaces, the minister should identify privately owned land that could be acquired for the same purpose. The <a href="https://www.glebesociety.org.au/?socialhistory=glebes-waterfront-history-the-last-40-years" target="_blank">gradual purchase of harbour foreshore property in Glebe</a> has resulted in a wonderful and well-used foreshore walk. Similar opportunities to create public space networks should be identified and planned.
3. Unlock the gates
Too much publicly owned public space is under-utilised because it is locked up. Across the city, ovals and public school playgrounds are fenced off from the public for much of the year when they are not in use. We own these spaces – when they’re not in use for sport or school, we should have access to them.
As minister for education, Stokes recently trialled a program of <a href="https://education.nsw.gov.au/news/announcements/schools-to-throw-open-gates-for-community-use" target="_blank">opening some school playgrounds during school holidays</a>. This should be done across the city. And councils should be required to show cause if they want to restrict access to any public spaces they own.
4. Stop the temporary enclosures
A growing number of park authorities and local governments are doing deals with private companies to <a href="https://theconversation.com/private-events-help-fund-public-parks-but-theres-a-cost-too-21343" target="_blank">temporarily fence off public spaces for commercial activities</a>. Sometimes they do this for days, <a href="https://www.smh.com.au/national/nsw/paul-keating-to-peter-garrett-dont-dance-on-sydneys-sacred-land-20171110-gzizzy" target="_blank">sometimes for weeks</a> and even months. They do it because they’re short of funds and need the revenue.
While programming events in public spaces can help attract crowds, we must halt the creeping logic of commercialisation, which results in us being charged money for access to our own spaces. The minister for public space should ensure park authorities do not need to depend on commercial funding for survival.
5. Maintain footpaths
The quality of footpaths makes a world of difference for many people. Think of parents with prams, little kids, people with mobility issues, and <a href="https://theconversation.com/eight-simple-changes-to-our-neighbourhoods-can-help-us-age-well-83962" target="_blank">older people</a> for whom falls are a big health risk. Our footpaths need to be wide and their surfaces even. They also need to incorporate places to rest.
The capacity of local governments to maintain footpaths is <a href="https://www.smh.com.au/national/nsw/australias-richest-suburb-theyre-swimming-in-it-20140103-309o8" target="_blank">highly uneven</a>. Public spaces in wealthy areas are gold-plated, while in other parts of the city footpaths are too often in poor condition or non-existent. The minister must think about the role that state government can play in evening things out, assisting local governments where required.
6. Provide public toilets
As with footpaths, the provision of public toilets can make the difference between going out or staying at home for many people. The minister should <a href="https://toiletmap.gov.au/find/New%20South%20Wales/Sydney" target="_blank">use existing data</a> to audit the provision and accessibility of public toilets in public spaces across the city, identify gaps and fund improvements where required.
7. Less private advertising, more public expression
While <a href="https://theconversation.com/view-from-the-hill-the-uncivil-mr-jones-104549" target="_blank">advertising on the Opera House generated controversy</a>, the <a href="https://www.smh.com.au/politics/nsw/why-the-creeping-sell-off-of-public-space-for-private-ads-is-so-wrong-20181008-p508el" target="_blank">creeping spread of commercial advertising in public space</a> is also of concern. All this advertising is commercialising our public spaces and crowding out other forms of public expression – from neighbourhood notices about community events and lost cats to murals and street art.
The minister should work with local governments to limit the amount of advertising in public space, and extract more public good from any advertising revenues raised in public space.
8. No more sniffer dogs and strip searches
The policing of public spaces makes a huge difference to its accessibility. Exclusionary policing strategies – especially the use of drug sniffer dogs and <a href="https://www.smh.com.au/national/nsw/rise-in-strip-searches-in-nsw-damaging-the-credibility-of-police-20190213-p50xew" target="_blank">rising use of strip searches</a> – should be stopped.
These tactics are not only put to work at festivals, but also around train stations and entertainment precincts. They are <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-12-03/fact-check-are-drug-dogs-incorrect-75-pc-of-the-time/10568410" target="_blank">ineffective in leading to prosecutions</a> and are too often used to shame, intimidate and harass people without basis.
The minister for public space needs to challenge the minister for police about this form of policing.
9. Care not control
This is not say that safety is unimportant. We know that <a href="https://theconversation.com/to-create-safer-cities-for-everyone-we-need-to-avoid-security-that-threatens-93421" target="_blank">fear of harassment and assault stops some people using public space</a>, not least women who often experience this.
However, we must not equate “feeling safe” with “more police” and “more surveillance cameras”. Indeed, sometimes these can have the perverse effect of making people feel less safe, by producing atmospheres of threat.
We feel safer when there are others around caring for the space. So, the minister should investigate ways to encourage these forms of care. Simple measures like later opening hours for neighbourhood shops, or staff on railway platforms and train carriages, can make a big difference.
10. Plant more trees
We need <a href="https://www.domain.com.au/news/one-million-urban-trees-808352/" target="_blank">more trees in our public spaces</a> – not just in parks, but on residential and commercial streets too. This is especially important in parts of the city where summer temperatures are already extreme for weeks at a time. Not only do trees help to cool these spaces, they also encourage more biodiversity and combat carbon emissions.
The minister should establish, and fund, a meaningful target for tree planting in public spaces.
This list of suggestions is far from exhaustive. But these reforms and others ought to be on the drawing board as the minister for public space sets about his new work.
It must be hoped this new portfolio is more than a tokenistic attempt to create the appearance of action on public space, in the face of criticism of this <a href="https://www.parliament.nsw.gov.au/researchpapers/Documents/Privatisation%20in%20NSW%20-%20a%20timeline%20and%20key%20sources.pdf" target="_blank">government’s record on privatisation of public assets</a>.<img src="https://counter.theconversation.com/content/115152/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;">
Kurt Iveson, Associate Professor of Urban Geography, 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/new-minister-for-public-spaces-is-welcome-now-here-are-ten-priorities-for-action-115152" target="_blank">original article</a>.
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New minister for public spaces is welcome – now here are 10 priorities for action

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The Queensland-based co-working space and business incubator Little Tokyo Two has been placed into voluntary liquidation.
Its founder and entrepreneur Jock Fairweather sending a message saying the business had become “unsustainable”.
Founded four years ago, Little Tokyo Two (LT2) had five locations across Brisbane and the Gold Coast.
The business was primarily offering a co-working space service to startup founders and aspiring entrepreneurs. However, the business had also recently expanded into offering incubation services and ‘growth plans’ for startups.
In the message, Fairweather said while the incubation offerings had performed well, the co-working model had become unprofitable and criticised new market entrants for “undercutting” prices.
“The business of running a co-working space has been struggling, with increased competition in the market and new entrants, who undercut prices to attract new members,” Fairweather said.
“After stress testing our future financial model and the financial difficulty we have recently faced we have concluded that the viability of the LT2 as a co-working space is an unsustainable option for our future.”
The Courier-Mail reports Brisbane City Council had invested $5 million in innovation hub The Capital, which Little Tokyo Two was a “foundation tenant” of.
The council told The Courier-Mail it was trying to find a new operator to “provide certainty for tenants”.
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Brisbane co-working space Little Tokyo Two collapses into voluntary liquidation

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Data released by SQM Research has revealed the national residential vacancy rate fell further to a low of 2.1% in March 2019, with the total number of vacancies Australia-wide now at 70,877.
Canberra is the only capital city to increase its vacancy rate from 0.8% in February to 0.9% in March 2019, reporting only 575 properties available for rent.
Sydney, Melbourne, Brisbane, Perth and Adelaide all experienced a 0.1% decrease in vacancy rates.
Darwin and Hobart have remained steady at 3.7% and 0.4% respectively.
Hobart continues to record the lowest vacancy rate in the country since September 2014.
Darwin’s vacancy rate is now 3.7% as the city continues to rank the highest of all capital cities since it overtook Perth in September 2018. Sydney currently has the second highest vacancy rate at 3.1%.
<a href="https://www.propertyobserver.com.au/images/2019/4/16/sqm%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/4/16/sqm%201.jpg" alt="">
Although there have been some marginal decreases in vacancies in most states over the month, Perth was the only city to record increases in asking rents for both houses and units.
Hobart’s near double digit growth in asking rents for units reflects the ongoing strong demand in a city where rental supply has been pushed to its limits and experiencing shortages in accommodation.
For the major east coast capital cities, although the latest results show a tightening of vacancies and steady rents over the month and the near term, the expected influx of new construction completions and the uncertainty around the Federal election are likely to contribute to increased vacancies and downward pressure on rents, SQM said. 
Australia’s national vacancy rate has not exceeded 3% since SQM Research began collating vacancy rate data in 2005.
With Sydney’s vacancy rate already hovering at 3.1%, Darwin at 3.7%, Brisbane and Perth not too far behind this mark and with new construction completions set to rise over 2019, this may well become a reality towards the end of the year.
Asking Rents
Capital city asking rents increased 0.2% for units but declined 0.7% for houses over March 2019 to record asking rents of $556 per week for houses and $442 per week for units.
In comparison, over the 12 months, asking rents for units declined by 0.2% and rents for houses declined by 1.2%.
Hobart’s weekly asking rents for units surged ahead with a 9.9% increase over the month and 12.3% over the 12 months. House weekly rents however, have decreased 2.2% over the month but improved 4.9% over the year.
Sydney has managed a steady asking rent for units but house rents have marginally declined by 0.8% over the month.
Perth’s rental market increased for both houses and units at 1.2% and 0.9% respectively. In contrast, Adelaide has recorded rental decreases for houses and units at 0.5% for both.
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Vacancy rates fall in March, but election likely to lead to uptick: SQM Research

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Australia’s rapid property market downturn is beginning to have a severe impact on residential real estate agencies around Australia.
And it could force some out of business, says insolvency and turnaround specialist Jirsch Sutherland. 
“We are already noticing the first signs of financial distress,” says Jirsch Sutherland partner Sule Arnautovic.
“We understand that some agencies are struggling to meet their fixed overheads, with the likelihood of staff redundancies, consolidation, mergers or insolvency now firmly on the horizon. 
“With property values having dropped by as much as 15 per cent over the past 12 months, some agencies located in former powerhouse markets are considering mergers or insolvency as their incoming revenue declines rapidly. 
“We’ve heard from industry insiders saying that the drop in house prices is being exacerbated by longer marketing periods, lower-commission competitors, difficult credit access for buyers, and the fact that many younger sales agents, who found success easy during boom times, are now finding they lack the skills to cope in a far more challenging marketplace.”
Arnautovic says the future of numerous agencies around the country is likely to come into question, with declining revenues set to bite hard. 
“The housing market continues to tighten in many parts of the country and it’s already increasingly clear that many agencies will feel the pinch in terms of reduced and deferred revenue,” he says.
“With house prices tipped to drop much further in certain key markets over the coming months, we believe we may only be looking at the tip of the iceberg in terms of the challenges faced by real estate agencies.”
Rent rolls may not be the saviour 
Adding to potential difficulty is the fact that many agencies have not invested adequately in their property management divisions, preferring instead to focus most of their resources on sales.
As a result, few property management teams have been allowed to adopt new technologies that would make rental processes more efficient and easier for both landlords and tenants, thus allowing companies to better capitalise on the revenue potential of their rent rolls. 
“In previous downturns, and indeed the recession in the late 80s/early 90s, rent rolls helped keep many agencies afloat,” Arnautovic says.
“But today, as rents fall in some parts of the country, some agents will find they no longer have the income to service the loans they arranged to originally buy the rent roll. It could be a perfect storm: decreasing property management fees and lower volume of sales, which would make it difficult for some agencies to cope with their own property and asset leases, not to mention wages and entitlements. 
“With these new realities in mind, it’s vital for stressed agencies to consider action early if they find themselves in financial difficulty. The key thing to remember is that early action is vital. By deciding to adopt an appropriate strategy as soon as possible, highly adverse outcomes can most likely be avoided.”
Seeking Safe Harbour
The 2017 changes to Safe Harbour laws are one example of how worst-case scenarios can be avoided.  
“Safe Harbour laws give Directors breathing space, providing them time to consider the position of the company early in the piece, without the potential threat of insolvent trading,” says Arnautovic.
“In turn, this may improve the position for creditors, enabling them to explore the possibility of restructure or sale, which may subsequently lead to more of the company’s value being preserved.”
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Housing downturn could send real estate agents to the brink: Jirsch Sutherland

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

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

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

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

Staff reporter

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