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GUEST OBSERVATION
Australia’s electricity sector has begun to transition away from coal, with coal’s contribution to our electricity mix falling from around four-fifths 13 years ago to around three-fifths today.
Twelve coal-fired power stations closed between 2012 and 2017.
There are clear upsides to the transition, among them an ongoing <a href="/news">decline</a> in carbon dioxide emissions from the electricity sector.
For local economies, however, the closure of a coal-fired power station can create economic challenges, including higher unemployment.
We’ve quantified the effects of 12 closures
In a <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/1467-8489.12289" target="_blank">new paper</a> in the Australian Journal of Agricultural and Resource Economics, we use detailed Statistical Area Level 4 (<a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/1270.0.55.001%7EJuly%202016%7EMain%20Features%7EStatistical%20Area%20Level%204%20(SA4)%7E10016" target="_blank">SA4</a>) data to quantify the extent to which local unemployment rates have increased following the closures of twelve coal-fired power stations across Victoria, NSW, Queensland, South Australia and Western Australia.
There are 87 SA4 regions in Australia, each with an average population of around 290,000 people. We found that on average the regional unemployment rate climbs by around 0.7 percentage points after a station closes.
The effect remains observable for year or two, although it varies from region to region.
Clearly, labour mobility and the creation of new jobs do not fully make up for the impact of such closures.
This means there is scope and need for strategies to smooth the labour market transition as we move towards a lower-carbon energy system.
What we found
A simple look at the data indicates that local unemployment rates tend to rise after closures, both in absolute terms and relative to what is happening at the state level.
We find that this effect remains when controlling for the impacts of other key factors, such as macroeconomic shocks and the coal export price.
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<a href="https://images.theconversation.com/files/266292/original/file-20190328-139364-g9g1jv.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/266292/original/file-20190328-139364-g9g1jv.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://onlinelibrary.wiley.com/doi/full/10.1111/1467-8489.12289" target="_blank">Burke, Best, Jotzo, 2019</a>
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Typically the increase in the first year is around 0.7 percentage points – for example, from 6.0% prior to a closure to 6.7% afterwards. It is a sizeable effect. For males the increase is 0.9 percentage points.
The Latrobe Valley in Victoria faces one of the biggest structural adjustment challenges. It has seen two closures of coal-fired power stations in recent years: Morwell in 2014 and Hazelwood in 2017.
As the graph below indicates, the average unemployment rate in the Latrobe-Gippsland SA4 region climbed well above the Victorian average after the first closure, before turning down.
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<a href="https://images.theconversation.com/files/266330/original/file-20190328-139371-9lm7bd.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/266330/original/file-20190328-139371-9lm7bd.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="http://www.abs.gov.au/ausstats/abs@.nsf/PrimaryMainFeatures/6291.0.55.001" target="_blank">ABS Labour Force, detailed</a>
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A multitude of local transition efforts are underway, coordinated by the <a href="https://lva.vic.gov.au/" target="_blank">Latrobe Valley Authority</a>. These have included a <a href="https://lva.vic.gov.au/worker-transfer-scheme/" target="_blank">worker transfer scheme</a> that has found places for displaced employees at other power stations.
At the even finer-grained level SA2 level, the unemployment rate in the town of Morwell remaines stuck at around <a href="https://docs.jobs.gov.au/documents/sa2-data-tables-small-area-labour-markets-september-quarter-2018" target="_blank">17%</a>, one of the highest rates in Victoria, years after the closure. Before the closure it was around 13%.
The region’s remaining power stations – Yallourn W, Loy Yang A and Loy Yang B – are ageing. Yallourn W is the oldest, at 45 years.
We need to prepare
Structural change is an ever-present feature of a healthy economy. But, especially where rapid structural change happens due to closures of large plants in regional areas, it is important to have measures in place to ease the transition.
The Labor party has promised a national <a href="https://theconversation.com/labors-policy-can-smooth-the-energy-transition-but-much-more-will-be-needed-to-tackle-emissions-107565" target="_blank">Just Transition Authority</a> to plan for and manage the transition process as coal-fired power stations close. Whether it can help mitigate rises in local unemployment after plant closures remains to be seen.
Many of Australia’s remaining coal-fired power stations are likely to close over the next decade or two as renewable energy becomes more cost competitive and the pressure increases to meet emissions targets. The next cab off the rank is likely to be the Liddell power station in the NSW Hunter Valley, which is due to cease coal-fired operations <a href="https://www.smh.com.au/business/companies/agl-tells-shareholders-it-will-close-liddell-power-plant-in-2022-20180926-p50633" target="_blank">in 2022</a>.
And then there’s the larger question of the transition away from coal mining. Export demand for coal <a href="https://coaltransitions.files.wordpress.com/2018/09/coaltransitions_finalreport_australia_20181.pdf" target="_blank">is set to fall over time</a>, winding back a large export industry in New South Wales and Queensland.
The <a href="https://theconversation.com/labors-policy-can-smooth-the-energy-transition-but-much-more-will-be-needed-to-tackle-emissions-107565" target="_blank">Just Transition Authority</a> will have its work cut out.
<hr>
This research was supported by the Coal Transitions Project and the Australian-German Energy Transition Hub. An open access version of the research paper is available <a href="https://ccep.crawford.anu.edu.au/publication/ccep-working-paper/12998/closures-coal-fired-power-stations-australia-local-unemployment">here</a>.<img src="https://counter.theconversation.com/content/113369/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;">
Paul Burke, Associate Professor, Crawford School of Public Policy, Australian National University
Frank Jotzo, Director, Centre for Climate Economics and Policy, Crawford School of Public Policy, Australian National University
Rohan Best, Lecturer in Economics, Macquarie University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/bad-news-closing-coal-fired-power-stations-costs-jobs-we-need-to-prepare-113369" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Closing coal-fired power stations costs jobs - we need to prepare

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A Sunshine Coast investor, who was familiar with the Coolum commercial market, has snapped an industrial warehouse for $245,000.
The property at <a id="LPlnk154374" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1MsQ8lDBqOLe+gWUrddmiCFEoTVfSuCLXq+FkE4p1rusvbe7meTHQf0FT1KP5siqkiZ3XYT4UQ6hYdTssQlpCNsY8mJKNBQQzjGzAAeLTRh3pvkzNnsVVmBjRBbxhrwglxTwOImA4bMFb+I4gG26KBMVjOjPsJh8sw==&amp;rh=ff0048223b214747420b0ac7ba40be363f116da1" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">13/25 Quanda Road, Coolum Beach</a> came with a 113 square metre building area, was part of a strata tilted slab block of 19 units with easy access to the Bruce Highway and Sunshine Coast Motorway.
The asset was marketed and sold by Ray White Commercial Noosa and Sunshine Coast North Property Consultant Tracey Ryan.
Ryan said the team had worked on the original development of the unit complex, selling 14 of the original 19, in the first offering.
“The unit featured retail style shop fronts on two sides, allowing two-street access and flow-through from two sides,” she said.
<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/2019/3/7/RWC%20Quanda25_13%209.jpg" alt="">
The Quanda Road development is at the gateway to the Coolum Industrial Estate and has always sold and leased well.
“Unit 13 was a resale for a previous investor,” Ryan said.
“The property had been continuously let for the previous eight years, with some improvements being made in that time, including an open mezzanine office.
“The seller was divesting to consolidate his Brisbane-based investments and the new owner had a prospective tenant secured for post-purchase.
“The price reflected the range for sales rates in the area. The Coolum Beach small industrial unit market continues to be buoyant, with more than 70 units sold in the past two years.”
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Coolum industrial warehouse sells for $245,000

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Australia now has 2,156,319 property investors, according to the ATO.
                     Tax year 2016-17         Tax year 2015-16
One property             1,536,112           1,493,982
Two properties              407,971              395,910
Three properties            125,915              122,654
Four properties                46,460              45,229
Five properties                 19,504              18,872
Six or more                     20,357               20,017
Total                          2,156,319          2,096,664
That's a jump of 59,000 fresh investors in the 2016-17 tax year.
But the number of investors with six or more properties has barely risen with the latest ATO tally putting it at 20,357 investors in the 2016-17 tax year.
It was 20,023 in tax year 2015-16.
It is this six or more investor demographic that has attracted the attention of Opposition Leader Bill Shorten in his pursuit of negative gearing changes.
The Opposition leader Bill Shorten has conceded that Labor's negative gearing/capital gains tax reforms were not “universally loved.”
“I would rather see more young couples buy their first home, than spend billions subsidising investors acquiring multiple properties,” Shorten argues.
“All of the experts know that with scarce taxpayer dollars it’s better to put money into health and aged care than give a tax subsidy to someone buying their sixth or seventh investment property,” Mr Shorten said.
According to ATO statistics a steady 71 per cent of the Australians with rental properties have just the one investment.
That's 1,536,112 individuals with the one property.
There are 1,300,344 individuals who own loss making rental properties.
There are 855,975 individuals who are in a rent neutral/profit situation with their rental investment.
An interest in a property means the property is solely owned, jointly owned or part-year owned – for example, bought or sold a property during the year.
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Australia now has 2,156,319 property investors

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It takes around eight years to save to buy an apartment in Manly, often referred to as seven miles from Sydney and 1000 miles from care.
Now the northern beaches suburb has become the priciest entry point for first time apartment buyers.
It takes the average person eight years and five months to save for a deposit, according to Domain's latest data.
Manly's $890,000 entry point is the highest across the country. 
It's overtaken the pricey northern part of the Eastern suburbs, having seen its YoY deposit saving time get shorter by four months, compared to the Northern Eastern Suburbs area which has sped up seven months.
 <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/2019/3/29/Sydney-Top10.jpg" alt="">
In Melbourne, Bayside ranks as the area where it takes the longest to save for an apartment.
Its $570,000 entry price is the only area in the state where the entry price is over $500,000.
It takes around five years and nine months to save for an apartment, down from its six year time estimate last year. 
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Eight years to save a deposit for a Manly apartment

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Australia has a new richest postcode, Palm Beach the pricey peninsula playground.
It the first time in seven years that the Sydney Northern Beaches location has dethroned the Point Piper, Edgecliff, Darling Point postcode, according to Australian Taxation Office statistics released late on Thursday.
The 1,279 tax filers in Palm Beach's 2108 postcode reported an average income of $230,330 for 2016/17, while the 6,089 tax filers in Edgecliff's 2027 postcode made an average of $187,769.
<div class="widget widget-ad ">
<div class="advert" data-module="article.ad" data-ad-type="MEDIUM" data-loc="MOBILE" data-max-width="727" data-sticky-class="" data-sticky-offset="0">Postcode 2027 had ranked as Sydney's highest earning postcode since 2009/10.</div>
<div class="advert" data-module="article.ad" data-ad-type="MEDIUM" data-loc="MOBILE" data-max-width="727" data-sticky-class="" data-sticky-offset="0"> </div>
<div class="advert" data-module="article.ad" data-ad-type="MEDIUM" data-loc="MOBILE" data-max-width="727" data-sticky-class="" data-sticky-offset="0">Although in 2016/17 it also ranked behind Melbourne's 3142, where the 10,044 filers in Toorak made an average of $193,904.</div>
</div>
Palm Beach's 2108 postcode also includes Scotland Island, Coasters Retreat, Great Mackerel Beach and Currawong Beach.
The rankings reflects the trend in the past few years of owners turning Palm Beach holiday homes into principal residences.
It is not the first time a beach retreat location has ranked at the top of the ATO list as in 2008/09 the postcode 3944 - the Mornington Peninsula suburb of Portsea - was the top-earning postcode, with an average income of $197,987.
WA's 6011 was the richest postcode in Western Australia, with the 6,431 tax filers living in Cottesloe and Peppermint Grove on Perth's western suburbs made an average of $155,264.
In ACT, the 2603 was richest, with 6,650 tax-filers in Forrest, Griffith, Manuka and Red Hill earned an average of $110,394.
In Queensland, 4007 took the top spot, with 9,278 residents of Ascot, Hamilton and Hamilton Central in northeast Brisbane earning an average of $107,478.
South Australia's top postcode was 5061, where 6,587 residents of Hyde Park, Malvern and Unley in inner-southern Adelaide made an average of $93,871.
In the Northern Territory, 885 residents in the mining town of Alyangula - postcode 885 - made an average of $83,343.
Tasmania's top postcode was 7258, where the 571 residents of the Launceston suburbs of Breadalbane, Relbia and White Hills made an average of $68,621.
The lowest-earning postcode was 2308, covering Newcastle University and Callaghan, with an average taxable income of $20,589.
The second-lowest was 4611 in Queensland, where Marshlands and Mondure residents earned an average of $23,225.
Queensland had five of the bottom 10 postcodes, with 4611 recording the second lowest average income nationally of $23,225.
The report also showed that surgeons were once again the top-earning profession, making an average of $394,866.
Anaesthetists came second, earning $367,343 on average.
Out of 1,100 occupations recorded, there were 72 where women made more than men, including authors, future traders, magistrates, pro surfers and illustrators, the ATO statistics showed in 2016/17.
The Herald Sun reported female futures traders in Australia earn nearly 4 per cent more than their male counterparts, with an average income of $315,197.
This year’s stats present an overview of 16.5 million 2017 income tax returns for 13.9 million individuals, 970,000 companies, as well as super funds, partnerships and trusts. 
Australians reported donating $3.5 billion in charitable donations with an average gift size for those who did donate of $770.
The most generous state was Western Australia, with 30 per cent of residents claiming an average deduction of $1190. 
Northern Territory residents recorded the lowest charitable donations, with 34 per cent of residents claiming an average deduction of $405.
 
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Shift to residency sees Sydney's Palm Beach top ATO tax payers list

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Investors will have just over six months to secure established property acquisitions to negatively gear if Labor wins the anticipated May election, it will be confirmed today.
Shadow treasurer Chris Bowen will use a speech to the Financial Services Council to announce January 1, 2020 as the start date for the policy, The Australian Financial Review indicated. 
The date also applies to the grandfathered capital gains tax policy.
The policy will need to pass through the Senate to take effect should Labor win government.
The timing announcement is likely to take any urgent imperative out of investors seeking to secure a negatively geared acquisition before the upcoming Federal election.
The six months following could see a spike in investor interest in securing established properties to negatively gear.
However this week The Urban Development Institute of Australia warned that the policy after implementation would see investors likely rely only on owner-occupiers to buy any listed investment properties which could be a "tough landscape" for investors.
The Real Estate Institute of Australia (REIA) has reiterated its strong opposition to the Labor Party’s negative gearing and capital gains tax policy following the announcment that the 1 January 2020 would be the start date for their negative gearing and capital gains tax increases if they were to win the Federal election. 
“The REIA has always been concerned with the impact the policy would have on housing markets, buyers, renters and economic activity,” REIA President Adrian Kelly said.  “This concern is magnified in the current market. 
“There is almost truck loads of analysis and reports showing the adverse impacts of the policy on mum and dad investors, home owners, renters, the construction industry, state governments and the economy.
“The latest was last week when SQM Research showed that:  house prices would drop between 5% to 12% on a weighted average for the capital cities for 2020 to 2022 over and above any other falls being experienced; rents are expected to increase by between 8% and 15% on a weighted average for the capital cities for 2020 to 2022; housing construction activity will fall by 25% to 30% from 2019 levels, which; will have employment and GDP impacts; property sales turnover is forecast to fall by a further 12% to 15%, resulting in; a drop in state stamp duty revenue of approximately $2.3 billion.
“For first home buyers, who according to Labor, should see improved housing affordability by a “levelling of the playing field” will now face a faltering economy, lower employment prospects, the possibility of higher interest rates under a Labor Government* and higher rents whilst they save for a deposit,” Mr Kelly said.  
 
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Labor sets January 1, 2020 start date for its CGT and negative gearing policy implementation 

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Mosaic Property Group’s new boutique luxury development Bela in Mermaid Beach has secured $43 million in since its launch in mid-December 2018.
46 apartments have sold at the 25-level residential development on Peerless Avenue.
Bela is Mosaic Property Group’s first foray into the Gold Coast apartment 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/2019/3/28/1.06_Exterior_Pool.jpg" alt="">
Amenities at the development include a pool, spa, steam and sauna, gym and dedicated yoga space, bike storage, residents’ deck, executive lounge, and concierge services.
Other features include a Resident’s Club on level 25 with wine cellar, private dining rooms, kitchen, library, lounge and media room. 
<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/2019/3/28/2.04_Interior_Sub-Penthouse_Kitchen.jpg" alt="">
Mosaic Property Group’s Managing Director Brook Monahan said the group wanted to create something unique for an iconic, historically significant part of the Gold Coast.
“The incredible team at Rothelowman in collaboration with Mosaic’s design team have helped translate our vision of meshing nostalgic coastal architecture with an unsurpassed residential experience that elevates the emotional connection to the water we know coastal buyers really value,” said Monahan.  
“The apartments have been designed for the discerning owner-occupier, with large open plan layouts and carefully considered details that come together to create spaces that we genuinely think people will love living in.
“And then there is the amenity, which is so far beyond anything else on offer on the Coast, particularly for a boutique building of this size.
“In fact, it's more akin to what you would see reserved for five- and six-star hotels and or buildings with far greater scale than Bela.”
Apartments at the project range from 98 square metres to 298 square metres and prices starting at $560,000 for two bedrooms, $1,015,000 for three bedrooms, and $2,450,000 for four-bedroom penthouses.
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Bela by Mosaic secures $43 million in sales in 12 weeks

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A new digital marketing tool is helping to put historic colonial-era towns on the radars of Sydney buyers according to a leading local real estate expert.
Amplify is an automated marketing for social media and search function developed by CCT and is exclusive to Raine &amp; Horne.
Chas Groom, Co-Principal Raine &amp; Horne, claims that with the help of Amplify, more than 4 million consumers viewing properties marketed by the Raine &amp; Horne group over the last year.
The technology also combines with social media platforms such as Facebook and LinkedIn to drive more traffic to properties listed on the traditional real estate portals.
“Amplify is paying dividends for us as we can now target buyers in parts of Sydney that appear to have an interest in buying the bigger properties and old school country feel that townships such as Wilberforce and Ebenezer offer,” Groom said.
“We have a lot of younger families moving to this region, and we have much affordable housing with median three-bedroom houses selling for about $660,000 in towns such as Webbs Creek, Ebenezer, Wilberforce, and Sackville.”
Groom says the rise in interest is attributable to the technology.
“We are finding that many buyers are seeing our properties on the social media platforms thanks to Amplify and are then going to the property portals for more information before making contact with our office,” he said.
“It’s for this reason that I know that Amplify is working for our business. For example, we know that buyers are spending an average of one minute 35 seconds every time they click on one of our properties via Amplify. This compares to an industry average of about nine seconds.”
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New digital marketing tool putting historic towns on Sydney buyers' radars

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A three-storey, A-grade commercial office building at Yeerongpilly has been listed by the City of Brisbane Investment Corporation (CBIC).
The purpose-built site at 665 Fairfield Road was constructed in 2012 for the Brisbane City Council.
The site has 4,198 square metres of net lettable areas across three levels and 71 car spaces.
It is being sold fully leased with a WALE of eight years, and a further two x five-year options to extend.
Cushman &amp; Wakefield’s Joint Heads of Middle Markets QLD, Mike Walsh and Peter Court along with Nick Spiro, and Savills’ Peter Chapple and Gregory Woods will manage the on-market expressions of interest campaign, due to commence on 1 April, 2019.
It is significant opportunity for investors to secure a high-quality office building, said Mike Walsh, Joint Head of Middle Markets QLD, Cushman &amp; Wakefield.
“Located in an affluent and growing inner-city area, the property is also poised to benefit from major surrounding development activity,” Walsh said.
“This includes Consolidated Properties’ $850 million Yeerongpilly Green project which will include a Woolworths-anchored shopping hub and more than 55,000 square metres of commercial space.”
Strong demand from local and offshore investors is expected, said Peter Court, Joint Head of Middle Markets QLD, Cushman &amp; Wakefield. 
“Overall, the fundamentals of the Brisbane market remain positive and we continue to see aggressive appetite for well positioned commercial building with yields continuing to compress in testing cyclical lows.”
Peter Chapple, State Director, Capital Transaction, Savills, said: “With the site 100% leased to the Brisbane City Council it will attract interest from all interest from all investor types active in the Australian market.”
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City of Brisbane list commercial office building at Yeerongpilly

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Stone Real Estate have opened a branch in the Albury Wodonga region.
Agents Craig and Kelly Huckel initially intended to become an independent agency before joining Stone.
“When we saw the way in which Stone carried out its marketing plus all the technology and strategy that goes along with presenting properties we couldn’t go past this,” said Craig Huckel (pictured above), principal of the new office. 
“We were looking to be independent but could see immediately that the way they presented themselves and as well as their properties was next level. 
“It’s a very city looking brand and we’re very excited to deliver this type of marketing into Albury Wodonga.” 
Kelly, who will serve as manager of the new office, said reactions to Stone’s website technology during their first opens during the week had been hugely favourable.
“Stone’s technology improves the customer experience enormously,” Kelly (pictured below) said. 
<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/2019/3/28/HIRES%20Kelly%20Huckel%20Stone%20Albury.jpg" alt="">
 Stone franchise director Luke Cameron said the Huckels are the ideal candidates to introduce Stone to Albury’s real estate market.
“They’re both excellent leaders and business people as proven by their track records in both real estate and their past careers,” Cameron said.
“We couldn’t be happier they’ve chosen to join Stone.”
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Stone Real Estate open branch in Albury Wodonga 

<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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