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Nine registered bidders competed for two Varsity Lakes commercial units in-one-line.
The lots at <a id="LPlnk234390" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGK6vkMsBwZNMqWOFQ/7Sa7CpOXKAS3WXZm4Yx57VCcQKi9iO3luO3Ng==&amp;rh=ff0049020f47ab20a33a1389084da3826c16d801" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">10 and 11/15 John Duncan Court</a> sold under the hammer for $1.275 million.   Lot 10 came with 295 sqm GFA + 33 sqm approved office mezzanine, two industrial height roller doors, two undercover car parks, exclusive amenities, kitchenette/lunch room and truck access.   Lot 11 came with 320 sqm GFA + 222 sqm approved office mezzanine with office fit-out, multiple executive offices and meeting rooms, air-conditioning throughout, two industrial height roller doors and two undercover car parks   The properties were marketed and sold by Ray White Commercial Gold Coast duo Jared Johnson and Lachlan Marshall.   Mr Johnson said “there was a real buzz throughout, and with 43 enquiries during the campaign, you could tell the potential buyers really appreciated the opportunity on offer,” he said.   “Competition was fierce between the nine registered bidders, and after a starting bid of $800,000, the price went all the way up to the winning bid of $1.275M.”   Mr Marshall said the location of the properties alone was a real drawcard to buyers, being just 2km* from the M1 Pacific Motorway.   “It’s also just 5km from famous Burleigh Heads beach and takes advantage of surrounding major operators such as Bunnings Warehouse, Trade Tools, Treetops Shopping Centre and Varsity Lakes station."   “The asset was purchased by a local buyer and they'll be using the properties for storage space and an office,” he concluded.
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j.ballantyne1990-6AQqhLzZaK

Two Gold Coast commercial units in-one-line sell for $1.275 million

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Scarcity in industrial land in NSW, coupled with continuous demand has seen land values in certain areas soar over the past 12 months, according to Colliers International.
Colliers claim this may herald a new influx of strata purchases. 
The Valuer General’s report released in July 2018 backs up this statement, it reported that industrial land values in NSW grew on average by 17.5%.
Standout areas were Willoughby Council at 55.1%, followed by Cumberland at 53.9%, Blacktown at 33.1% and City of Parramatta at 32.2%. 
Kellie Tattersall, Director, Industrial at Colliers International says that while some of these increases have been brought upon from residential rezoning, the majority are not, which could ultimately influence investors decisions to buy a freehold industrial building or an industrial strata unit. 
"We are at an equalising point in time where the holding costs for a freehold industrial asset are nearly the same as an Industrial strata unit in the Inner and Central West industrial areas." 
“Traditionally, investors find freehold industrial assets more appealing for various reasons, including cost efficiencies, but we could see this trend change as land values increase.” 
“With minimal developable industrial land left in Sydney’s Inner and Central West areas, we may see an increasing demand for strata units over the coming years for a variety of reasons.” 
“This includes land tax, which is due to increase over the next couple years; the need to supply desirable amenities with a sense community to attract staff. Plus, the fact that strata units are easier to manage and maintain, with the aid of a body corporation, which is important to keep the property’s overall value,” she concluded. 
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NSW industrial properties see increased land values

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Now boasting one of the lowest vacancies in the country, the Newcastle CBD was set to continue an upward trajectory of employment growth to keep absorption positive and vacancies down, according to Ray White’s latest <a id="LPlnk553254" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39TeBE+PJIXQEQIMSnTrWz0TmO1dfR40f4SWaoO3QxM8H3Q+khB+l1qzeMb8gNN6Ua1vvrnjkjC2i3AHZbZ3OaE9&amp;rh=ff0049c528c38664c4da5114824383adad9e5c8a" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Between the Lines</a> report.
“The investment into the Newcastle CBD by local government is starting to bear fruit,” said Ray White Commercial Newcastle Director Lee Follington.   “The initiatives to activate this market and make Newcastle a vibrant CBD has come to fruition, with new development and revitalisation of older stock out of the market, which has resulted in the vacancy declining.   “The upshot for investors in the market is the first signs of significant rental growth for prime assets, with the secondary market still lagging.   “But, yields have slightly risen given the increased difficulty in financing, reducing the pool of buyers of smaller commercial holdings.”
<a href="https://www.propertyobserver.com.au/images/2019/4/11/newcastle%20office%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/2019/4/11/newcastle%20office%201.jpg" alt="">   Mr Follington said demand for Newcastle CBD office stock continued, recording its third consecutive year of positive net absorption   “Take up during the 2018 calendar year has totaled 2,065sq m, resulting in the continuation of vacancy decline,” he said.   “This period, downward vacancy was further assisted by the reduction in stock levels with net supply of just -2,818sq m, due to the withdrawal of several smaller properties for residential conversion.   “This continual reduction in stock levels has seen the Newcastle CBD office market record just 251,138sq m of stock, its lowest level since 2014.”
<a href="https://www.propertyobserver.com.au/images/2019/4/11/newcastle%20office%202.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/2019/4/11/newcastle%20office%202.jpg" alt="">   Mr Follington said the demand for prime stock had been high this last year, resulting in large contractions in vacancies, this had a positive effect on the rental market which had shown a sizeable increase after a long-term period of stability.   “Net face rents currently average $355/sq m which represents a 5.97 per cent increase over the last 12 months, the limited supply of A grade stock has aided in this increase, with some smaller tenancies achieving rents in the $400/sq m to $450/sq m range,” he said.   “Currently, the average net face rent has recorded $250/sq m, which is up 2.04 per cent over the last year. That’s well ahead of the growth achieved in the prior five years.”   Ray White Head of Research Vanessa Rader said the Newcastle market was currently enjoying long-term lows with direct vacancy recorded at just seven per cent, well below most Australian CBD and suburban markets.
<a href="https://www.propertyobserver.com.au/images/2019/4/11/newcastle%20office%203.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/2019/4/11/newcastle%20office%203.jpg" alt="">   “While this reduction in vacancy over the last few years was heavily due to stock contractions, the ongoing positive take up highlights the improvement in the local economy,” Ms Rader said.   “Demand is high for A grade stock with vacancy in this category falling from 6.4 per cent last year to just 2.8 per cent, sub-lease vacancy is also at a record low of just 0.1 per cent, this further emphasising the requirement for quality stock in the market.   “B grade absorption levels have also been elevated with vacancy now 8.3 per cent, down from 11.2 per cent 12 months ago, and this has been aided by the relocation of C and D grade tenants.   “While C and D grade stock have both enjoyed stock withdrawals, the loss of tenants has seen negative take-up levels and vacancy increasing in both quality grades, to 13.4 per cent and 12.2 per cent respectively.” 
<a href="https://www.propertyobserver.com.au/images/2019/4/11/newcastle%20office%204.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/2019/4/11/newcastle%20office%204.jpg" alt="">
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Newcastle CBD has one of the lowest office vacancies in Australia: Ray White

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Two Gold Coast commercial properties have settled for a combined $4 million in a week.
Both properties sold above their reserve.
AMP Ltd paid $2.35 million under the hammer for a 600 sqm retail building at 10 Harvest Court, Southport (pictured above). The price was $300,000 above the reserve. 
The Harvest Court property, which drew 11 bidders, is located next to the Ferry Road Markets precinct and adjacent to a property acquired by AMP two years ago. 
The property has a site area of 1500 sqm with development approval for a three-storey medical-office building. 
<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/2019/4/11/7-8-84%20Brisbane%20Rd1.jpg" alt="">
The second property, an office-retail holding at 7-8/84 Brisbane Road, Labrador (pictured above), sold to a Gold Coast investor for $1.65 million.
It has a net lettable area of 376sqm with an A-grade tenant on a long-term lease. The sale was struck on a yield of 8.65 per cent. 
Ray White Commercial’s Michael Willems, who negotiated both sales, said the Labrador property drew six registered bidders and was highly sought after. 
“The vendors of both properties were determined to sell at or prior to auction, and we’re pleased to have achieved a very strong result from the campaign,” said Mr Willems. 
Ray White Commercial Gold Coast director Greg Bell said “There’s been a general rise in capital flowing into commercial property nationally, and the Gold Coast is shaping up as a prime target market to capture some of this investment,” said Mr Bell. 
“These auction sales, both of which were well above the reserves set by the vendors, affirm the underlying appeal of the Gold Coast commercial market to both large and small investors.” 
Ray White Commercial is expecting the sales momentum to continue for its upcoming mini-auction next month which will bring eight properties to the market. 
The program is being held from on May 2 at the Gold Coast Turf Club in Bundall.
Properties on the program include: 
<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/2019/4/11/Yarrabilba%20hero3.jpg" alt="">
· Six prime retail shops at 9-13 Waldron Street, Yarrabilba (pictured above), to be sold as individual lots
<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/2019/4/11/11-13%20Olympic1.jpg" alt="">
· An industrial property at 11-13 Olympic Circuit, Southport (pictured above), on a 2002 sqm site
· A site tenanted by Mitre 10 at 9 Stewart Road, Currumbin Waters.
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Commercial sales set the tone for Gold coast commercial property in 2019: Ray White

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Property fund, Barwon Investment Partners, has acquired a new strata medical centre in the heart of Cedar Woods’ Williams Landing.
The site at 111 Overton Road was purchased for $8.2 million.
It features 1,520 sqm of net lettable ground floor area and is fully leased to Cornerstone Health, a national medical operator.
Still under construction, the property is slated for completion in April 2019.
CBRE’s specialist healthcare team, Josh Twelftree, Sandro Peluso and Jimmy Tat, negotiated the transaction.
Mr Twelftree said, “Healthcare investment yields have recorded continued compression over the past few years and, as a result, we’re seeing strong interest translate into demand for high quality strata assets.”
“The security associated with the healthcare investment class, coupled with its tightly held nature, means buyers are being increasingly selective between freehold and strata assets."
Mr Peluso said “forecasted growth within the wider city of Wyndham has been well received by investors, who have also been surprised by the significant number of white-collar professionals re-locating to the are."
“The asset attracted multiple offers with Barwon beating out both domestic and international investors.”
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Barwon Investment Partners acquires $8.2 million Williams Landing medical centre

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An architectural South Coogee residence with 270-degree panoramas over the coastline and beaches has been listed with suburb record hopes.
Last traded for $7.12 million in 2010, the four level home with views over Lurline Bay has undergone a full renovation.
It has five bedrooms, two kitchens, a sauna and a home theatre room.
An outdoor barbecue entertaining terrace features a heated swimming pool. 
No price guide has been offered by Nader Hotait and Phillip Elmowy from Ray White, but their comparable sales in the area range from $10.5 million to $12.5 million.
Even at the lower end of that price range it would beat out the suburb record holder, a four bedroom Alexandria Parade home that sold for $8.5 million in 2015.
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South Coogee record to be broken with Seaside Parade trophy home

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EXPERT OBSERVATION
Despite the recent easing, auction clearance rates are actually consistent with long term averages and still outweigh the private treaty sales clearance on any given day.
I'm concerned the consistent negative commentary on auction clearance rates could lead to fewer vendors supporting the proven method of sales success.
This negative commentary is not supported by empirical research, not compared with other sale methods or, apart from the auction clearance rate, never supported by underlying auction metrics.
Just as the market sets the property value, the market should also choose the appropriate sale method and not be turned off by this negative commentary.
Some analysts had formed the view that auctions don’t work in today’s market using only the "one dimensional auction clearance" numbers reported by the data providers.  
The auction day clearance rate is only one part of the equation. In reality, you are three times more likely to get a sale by auction than by private treaty on any given Saturday in some cities.
Ray White sells one in every 10 houses in Australia, including more houses in every single price bracket than any other agency group - from affordable stock to harbourfront luxury.
The group also sells more property via the auction method, being the listing agent for one in four auction properties across Australasia.
As the largest auction house we do not look at clearance rates in isolation, metrics such as properties withdrawn from auction and the market, properties sold prior to auction day, properties sold post auction day are all factored in.
Passed In status (ie highest bid), registered and active bidders, number of bids per property and crowd sizes are essential to understanding why auctions are a crucial method of sale and achieve exceptional results.
Data providers and analysts do not have the capability to collect these underlying metrics to form a holistic view.
Added to this once the Saturday auction and news cycle is completed data providers do not take into consideration properties sold post auction which are still under auction conditions.
Many of the group's most successful auction businesses also only auction mid-week and not on Saturdays at all. Many of these large offices regularly clear 70 - 80 per cent of their stock on a Thursday night and will therefore not be counted by the portals on the weekend. 
Our auction data is robust, rich and importantly complete, and shows us a lot more about buyer sentiment and market conditions than what the third party data collectors announce each Saturday afternoon.
While analysts are quick to give their opinions on such limited data, perhaps to meet the demands of the news cycle, it’s unclear on what basis they form extrapolated market views.
More concerning is when large institutions, including the Reserve Bank, quote this one dimensional data when explaining interest rate settings. Added to this concern is, data providers collect auction results via antiquated manual collection methods and can be inflated or understated depending on those who choose to respond and response rates. Many choose not to report to third party data providers.
While the market has softened, persistent commentary regarding auction results is largely unhelpful to both sellers and buyers based on such thin, unsubstantiated data.
In addition to commentators passing judgement on auctions based solely on clearance rate, auction naysayers forget the benefits auctions provide to sellers and buyers being, transparency, timely, immediate feedback, committed buyers and sellers and ultimately an immediate understanding regarding the market value.
Certainly there has been a reduction in auction day clearance rates compared to 2017 and early 2018 but auction results are in line with long-term trends despite the negative publicity.
Even more importantly, transaction rates at 30, 60 and 90 days for properties marketed under the auction method over the past three months have jumped significantly in all regions in comparison to those marketed any other way.
For example, in Sydney over the past 90 days, the Ray White auction clearance rate at 30 days is 48.1 per cent, while the private treaty sale rate is just 16.5 per cent.
In Melbourne, the Ray White auction clearance rate at 30 days is currently 46 per cent, while the private treaty sale rate is just 20 per cent.
This data is consistent across our residential, commercial and rural property.
Market conditions will always fluctuate but the best outcomes for homeowners looking to sell are created by agents maximising competition through auction campaigns.
This is just as true and relevant today as it was when the man himself, Ray White, started auctioning in 1902. And that will never change.
DAN WHITE (pictured in title) is the Managing Director of the Ray White Group
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Auctions clearance rates consistently beat private treaty: Dan White

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Westpac is cutting fixed rates on owner occupier and investor home loans by up to 0.20 percent, effective tomorrow.
Westpac’s decision comes after the nation’s largest bank, CBA, who cuts rates on Tuesday.
It is the second time this year that Westpac has cut some of its fixed home loans, after cutting some of its 2-year fixed rates in February.
<img src="https://www.urban.com.au/images/2019/4/11/Westpac%20Rate%20Cuts.JPG" alt="">
(Source: RateCity.com.au)
RateCity.com.au research shows 40 lenders have cut fixed rates on around 450 products since the beginning of the year. 
ANZ is the only big bank to have not cut its fixed rates this year.
The Commonwealth Bank has cut interest rates on its fixed-rate loans for home owners and investors.
Lenders to cut their fixed rates since the start of the year include Macquarie, St George Bank, Adelaide Bank, AMP, Bankwest and, from this Friday, Bendigo Bank.
<div class="_1665V undefined">
<p data-gtm-vis-recent-on-screen-6236702_632="1554930972862" data-gtm-vis-first-on-screen-6236702_632="1554930972862" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">CBA has also cut 0.1 percentage points off its three-year and four-year fixed-rate loans for owner-occupiers, to take the new rates to 3.79 per cent and 4.09 per cent respectively.
The bank has also sliced 0.1 per cent off its investment loans, with its two-year loan now sitting at 3.89 per cent, its three-year fixed at 3.99 per cent and five years at 4.39 per cent.
The cuts apply to principal and interest loans and are "packaged" rates, where those applying for the loans have other products with the bank, and apply to those taking out a new fixed-rate loan.
</div>
<div class="_1lC_G">As demand for home loans slows, the cuts apply to a range of fixed-rate home loans, with the biggest cut of 0.3 percentage points to its five-year owner-occupied loan to a new rate of 4.09 per cent.</div>
Figures from comparison site Mozo show that a home buyer with a $400,000 loan would save $4260 over the five-year fixed period.
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Westpac joins other big two to cut fixed home loan interest rates

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It is now more expensive to rent a house in Hobart than in Canberra, according to Domain's Q1 2019 Rent Report.
House rents in Hobart continued to increase over the quarter, up over 7% to $450, while Melbourne's held firm, showing no increase and remaining at $440.
It's the first time in recorded history house rentals in Hobart have been higher than Melbourne.
Hobart's rental market
<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/2019/4/11/hobart%20.jpg" alt=""> Source: Domain
"Rental stock has hit an all time high," Domain's Nicola Powell said.
In two years, house rents in the Tasmanian capital have gone from the most affordable to surpassing Adelaide, Perth, Brisbane and Melbourne.
The drive in rising rents is likely attributed to the bigger rental pool, with house prices in Hobart soaring over the last few years and pricing many out of the buyer market.
The median price for Melbourne units closed to gap to houses, now just $20 between the two.
Melbourne's rental market.
<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/2019/4/11/melbourne%20.jpg" alt="">
Source: Domain
Melbourne's investor activity has retreated, which could tighten the rental market further.
Comparing the two capital's, a Victorian cottage in Hobart (below) is up for rent seeking tenants at $485 a week, just above the median rental price.
The cottage at <a href="https://www.realestate.com.au/property-house-tas-hobart-426194354" target="_blank">99 Warwick Street </a>has two bedrooms and a living room with original period features.
<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/2019/4/10/hobart%20example.jpg" alt="">
In Melbourne an Abbotsford house (below) is asking $410 a week.
The one bedroom bluestone house at <a href="https://www.realestate.com.au/property-house-vic-abbotsford-426289890" target="_blank">11 William Street</a> has its own private courtyard. 
<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/2019/4/11/abbotsford.jpg" alt=""> 
Canberra remains the most expensive city to rent a house, having overtaken Sydney last quarter.
The gap has widened, with Canberra's median house rental price seeing nearly 2% growth in Q1 2019, compared to Sydney's stagnant prices.
Canberra's median house rent is now $570 a week, compared to Sydney's $540 a week. 
Sydney defied the national trend of rising rents and became the only capital city to record annual falls for houses and units. 
House rents are now back to late-2016 prices, and unit prices back to early-2017.
 
 
 
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Hobart more expensive to rent a house than Melbourne: Domain

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EXPERT OBSERVATION
Access to finance continues to constrain lending for the purchase of a new home.
The ABS has released Lending to Households and Businesses for February 2019. This publication presents statistics on housing finance commitments including for the purchase or construction of new dwellings.
Overall housing finance commitments for construction and purchase of new homes are now 14.1 per cent lower than they were in February 2018.
Despite the trend of the last year lending to households rose by 2.6 per cent in the month of February.
This increase is consistent with the small rise we saw in new home sales in February.
After five years of a sustained building boom, market confidence fell away in the later part of 2018 as dwelling prices corrected, adversely impacting all segments of the market.
Investors and owner occupiers are delaying purchase decisions and foreign investment has also fallen dramatically for numerous reasons.
Our expectation is that the credit squeeze will ease over the course of 2019 and we are hopeful that this is an early sign that the fall in lending will be modest by historical standards.
Click <a href="https://www.propertyobserver.com.au/images/2019/4/11/HIA%20Graph.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/4/11/HIA%20Graph.JPG" alt="">
The pipeline of building work which had expanded over recent years has shrunk over the past 6 months as the volume of work entering the pipeline fell away.
The home building industry has driven economic growth in Australia since the end of the resources boom. As the housing boom cools the industry will be reliant on a strong national economy to ensure that this is a relatively shallow downturn.
Lending to owner-occupiers building and purchasing new homes in the three months to February 2019 compared with the previous quarter were down in all states.
NSW down by 21.0 per cent, Victoria down by 17.6 per cent, Queensland down by 20.5 per cent, South Australia down by 10.8 per cent, Western Australia down by 17.8 per cent and Tasmania down by 17.0 per cent.
TIM REARDON is the Chief Economist of HIA
 
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Pipeline of building work continues to shrink: HIA's Tim Reardon

<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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