<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
This week, all of the busiest suburbs for auctions are in Victoria, with Preston and Reservoir topping the list.
Each suburb has 14 homes scheduled for auction each.
They are followed closely by Bentleigh East, Cheltenham and Mount Waverley each with 13 scheduled auctions.
Upcoming auctions
There are 1,552 capital city homes set to be auctioned this week, down from the 1,875 auctions held last week. Over the same week one year ago, volumes were significantly higher (3,990) over what was the pre-Easter weekend, which is traditionally one of the busiest weeks for auctions each year.
Both Melbourne and Sydney will see fewer homes taken to auction week-on-week, with Melbourne set to host 754 auctions, down 18 per cent on last week (920). 
In Sydney, 465 auctions are expected to take place; a decrease of 27.1 per cent over the week (638).
<a href="https://www.propertyobserver.com.au/images/2019/3/22/corelogic%20auction%202.jpg" target="_blank">Click here</a> to enlarge:
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<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/2019/3/22/corelogic%20auction%202.jpg" alt="">
 
Source: CoreLogic
<a href="https://www.propertyobserver.com.au/images/2019/3/22/corelogic%20auction%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/2019/3/22/corelogic%20auction%203.jpg" alt="">
Source: CoreLogic
Across the smaller auction markets, volumes are higher over the week in Adelaide (115), Brisbane (112) and Perth (42). While Canberra and Tasmania will see fewer homes auctioned this week.
A one bedroom Preston apartment has been scheduled for auction on March 23 with a price guide of $360,000 to $390,000 (pictured above).
Located on the ground floor of an residential complex, the apartment at<a href="https://www.realestate.com.au/property-apartment-vic-preston-130601886" target="_blank"> 10/105 Dundas Street</a> comes with open plan living, generous-sized robed bedroom, and paved courtyard. 
It's within close proximity to Thornbury train station, Northland Shopping Centre and Melbourne CBD
<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/2019/3/22/corelogic%20auction%201.jpg" alt="">
A 1960s two bedroom house at Reservoir priced between $900,000 to $950,000 is also up for auction on Saturday, March 23 (pictured below). 
Nestled on a 933sqm block, the house at <a href="https://www.realestate.com.au/property-house-vic-reservoir-130577314" target="_blank">11 Hosken Street</a> comprises spacious lounge and dining, kitchen/meals, double bedrooms and single garage.
It's close to schools, parklands, bike trails and cosmopolitan Sydney Road. 
<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/2019/3/22/reservoir%20.jpg" alt="">
Summary of Last Week’s results:
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
Last week, the combined capital cities saw auction volumes rise with a total of 1,875 homes taken to auction, returning a final auction clearance rate of 51.4 per cent; an improvement on the 47.8 per cent clearance rate the week prior when 1,197 auctions took place. One year ago, a significantly higher 3,136 homes were taken to auction across the capital cities with 66 per cent selling.
Melbourne’s final clearance rate came in at 52.1 per cent acrossa higher volume of auctions week on week (920). The week prior saw a very subdued 216 auctions take place when only 49.2 per cent sold. The same week last year saw 1,653 Melbourne homes auctioned, returning a final auction clearance rate of 68.7 per cent.
Sydney’s final auction clearance rate rose to 54.2 per cent acrossa lower 638 auctions last week, after the week prior saw 52.3 per cent of the 701 auctions successful. Over the corresponding week a year ago, 1,093 Sydney auctions took place when a much higher 64.8 per cent cleared.
Across the remaining auction markets, Adelaide was the best performing in terms of clearance rate with 53.3 per cent of homes selling. While only 26.3 per cent of Perth homes sold at auction last week.
<a href="https://www.propertyobserver.com.au/images/2019/3/21/auction%20last%20week%201.jpg" target="_blank">Click here</a> to enlarge:
</div>
</div>
</div>
</div>
<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/2019/3/21/auction%20last%20week%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/3/21/auction%20last%20week%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/2019/3/21/auction%20last%20week%202.jpg" alt="">
Source: CoreLogic
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Preston and Reservoir to be the busiest upcoming auction suburbs: CoreLogic

<html><body>
EXPERT OBSERVATION
Changes to existing capital gains tax and negative gearing arrangements on residential investment properties proposed by the Federal Opposition will dampen first home buyer capacity to save for their first home.
Rental costs will increase.
While their grandfathering provisions are intended to encourage investors to retain their existing investment properties, decisions about new investments in residential housing will be strongly influenced by the higher taxation grab on investment returns and uncertainty about subsequent sales of new properties and future tax changes.
Research conducted for HIA analyses this impact and shows that rental costs will increase and the supply of rental properties will decrease.
Rental supply is crucial.
The September quarter of 2018 marked the first time since December 2006 that rents in Sydney declined in real terms.  The recent additional supply of rental properties has underpinned the improvement in rental affordability.
Changing the tax treatment on residential investment properties risks undoing the good work, lifting rental prices and dampening the home ownership aspirations of renting households.
For many households, living in a rental property is an interim step towards home ownership. It’s a period of independent living while they save a deposit to purchase their own home.
Any increase in their rental costs will impact their capacity to save a deposit, extend the savings’ period and dampen their home ownership aspirations. 
We already know that more than 90 per cent of renters aspire to own their own home.  Unfortunately, less than half believe they will achieve this dream. 
Australia needs to reverse this trend, renew our national commitment to home ownership and adopt measures that support first home aspirants. That includes support while saving for a deposit,” concluded Mr Wolfe.
GRAHAM WOLFE (pictured) is the Managing Director of HIA
</body></html>

Australia’s home ownership aspirations at risk: HIA's Graham Wolfe

<html><body>
Legislation introduced to the Victorian Parliament will see real estate agents prevented from concealing known facts about a property’s past, including if it had been used as a clandestine drug laboratory.
The new rules include if the property was the site of a murder.
Agents will have to disclose unfavourable facts about a property upfront without being asked by potential buyers.
Current rules require agents and vendors to make those disclosures when asked for that information.
The tougher laws introduced to the Victorian Parliament on Wednesday.
The Sale of Land Amendment Bill 2019 will strengthens the existing requirement for vendors or real estate agents to disclose material facts about a property, and enable guidelines to detail what a material fact is likely to be (for example, a property’s past history as a clandestine drug laboratory or the site of a homicide).
“Families looking to buy also deserve to know whether a property was previously the site of a drug lab or a murder scene, and we’re ensuring that vendors and real estate agents disclose these important facts," Consumer Affairs minister Marlene Kairouz said.
“This is about improving consumer protections and restoring balance so that hard-working families can enter the property market with confidence.”
</body></html>

Clandestine drug laboratory details need to be revealed to Victorian property buyers

How the RBA looks at property, debt and financial stability: RBA's Michele Bullock

<html><body>
Rent-to-buy schemes aimed at low-income Victorians will be banned under new laws introduced to the State Parliament which have potential jail time for vendors and third-party intermediaries.
The schemes - typically offered on properties on Melbourne's outskirts - are marketed as offering a pathway to home ownership for people unable to get a mortgage, by paying rent for a few years and then refinancing on their own. 
But there are typically exorbitant rents and legal fees.
The victims lose their first-home buyers grant.
It is often followed by moving out of their home after being unable to afford the payments.
Developers and financial services groups face fines ranging from $19,000 to $190,000 and or jail time for vendors and third-party intermediaries. 
Under the proposed laws, those who buy residential land under a dodgy rent-to-buy arrangement would be able to get a refund, excluding money paid that represents fair market rent.
Consumer Affairs minister Marlene Kairouz said the new laws would stamp out unscrupulous businesses taking advantage of people who can least afford it.
“Whether it’s putting a stop to so-called rent-to-buy schemes or restricting the terms of contracts for residential property, we’re stamping out the ripping off and exploitation of families by greedy parts of the financial services sector and dodgy developers,” Kairouz said.
The government does recognise that rent-to-buy schemes may emerge in the future, but the arrangement would need to involve the Director of Housing, a registered housing association or a similar organisation as determined by the government.
</body></html>

Rent to buy schemes to be banned in Victoria unless officially approved

<html><body>
ASIC has successfully sought orders from the Federal Court to wind up the highly solvent Melbourne-based company Aviation 3030 Pty Ltd on the basis that there is a justifiable lack of confidence in the management of Aviation by its directors.
Aviation’s primary asset is property located at 756 Aviation Rd, Point Cook, which it purchased for $7.8 million in 2011 with a view to rezoning the property to increase its value.
In ordering that Aviation be wound up, Justice O’Callaghan stated the case that ASIC makes to wind up Aviation is an overwhelming one.
"Directors have issued to themselves and to their associates large numbers of shares at a gross undervalue; they have fabricated correspondence and invoices; they have provided false instructions to the company’s external solicitors; they duped and misled investors; they entered into related party loans; and they made unauthorised and exorbitant expenditures.
"The audacity of the March 2016 share issue alone could well be enough to warrant a winding up order, but it is not necessary to decide the case on that sole basis because of the many and varied ways that the directors have demonstrated that they are unfit to sit on the board of Aviation."
ASIC’s winding up application was opposed at trial by Aviation and its two majority shareholders (which were companies associated with the directors of Aviation) to which 63% of Aviation’s share capital was issued in March 2016.
ASIC’s application was supported, however, by a group of 12 minority investors who were granted leave to intervene in the proceeding.
The Federal Court also ordered the winding up of an unregistered managed investment scheme operated by Aviation through five separate trusts, as well as their trustee companies, which were also used to raise funds for the Aviation scheme.
John Lindholm and George Georges of Ferrier Hodgson were appointed as joint and several liquidators of Aviation, the Aviation scheme and associated entities.
The orders have been stayed for seven days to allow the defendants to consider an appeal.
ASIC Commissioner John Price said the orders made by the Court will allow an orderly and lawful winding up of the companies and the investment scheme they have operated and will place the future process of distribution of funds to investors into independent hands.
To facilitate the purchase and rezoning of the property, Aviation raised around $10.59 million from approximately 73 shareholders and unit holders.
Many investors in the trusts paid significantly less than $500,000 for their units, and were therefore retail clients rather than sophisticated investors.
In 2011 Aviation had entered into an agreement with auDirect Property Group Pty Ltd to provide project management services in relation to the Aviation land, for an annual fee of $120,000, plus reimbursement of costs. 
On 13 September 2012, the Aviation property was rezoned from Green Wedge Zone to Farming and significantly increased in value.
In March 2016, Aviation issued 63% of its share capital to companies associated with the directors of Aviation.
On 25 October 2018, the property at Point Cook was sold to Shanghai-based developer, Dahua for $135 million through Colliers International and Biggin &amp; Scott Land. The purchaser paid Aviation a deposit of $27 million. The balance of $108 million is payable in April 2023.
Following an investigation, ASIC commenced proceedings in September 2018 to wind up Aviation, the trustee companies and the Aviation scheme.
The defendants resisted the making of the winding up orders primarily on several grounds, including the investors were only ever promised 1/240th an interest for every million shares.
ASIC first wrote to Aviation in December 2015 in relation to concerns about Aviation’s fundraising activities, and it commenced its formal investigation back in May 2016.
ASIC recommenced taking active steps in its investigation in August 2017 which included section 19 examinations, in addition to those which ASIC had previously conducted in 2016, including with Hakly Lao, Khay Taing, Huy Taing, Marintha Lao, Terry Grundy, Michael Bishop and Jenny You.
The investor group included the Deva Family Trust; JS Fotia Superfund; Harbourlink Wealth, as trustee for the Zou family; Sergio Valentino and Darryl Williams; Sang Aung; the Yuantong Family Trust; Heng Aung; Yoke Ngoh Wong and Jessie and Colin Luxton.
</body></html>

Federal Court winds up $135 million Point Cook Aviation Road land banking company

<html><body>
SQM Research believes there is a "very high risk" based on Labor’s proposed negative gearing policy, that investors purchasing new property may experience losses on a resale in the first three years of the property’s life.
"Investors seeking to benefit from the new concession by buying new properties are exposed to a substantial risk of their property being valued below purchase price, especially if the buyer is seeking to sell their investment within the first three years," SQM director Louis Christopher said.
While the SQM director Louis Christopher says there is no solid data to prove this point, it was in SQM'S experience that over the course of a cycle:
<ul>
<li>Off-the-plan developments will be sold between a 15-30% premium to the existing market.</li>
<li>30% of off-the-plan developments will sell at a loss to the initial purchase price if sold within the first three years if the dwelling’s life.</li>
</ul>
A premium paid over and above the existing market is often justified as one is effectively buying ‘new’ and the best quality fixtures and fittings compared to the existing market. 
Christopher predicts dwelling prices to fall.
<img src="https://www.urban.com.au/images/2019/3/22/JPEG%20-%202020%202022%20Dwelling%20Price%20Forecasts.JPG" alt="">
"Given the forecast of initial negligible rental growth, SQM Research forecasts an additional correction in the housing market of between 4% to 8% over a three year period (2020 to 2022) with most of the falls occurring in years one and two."
This assumes an interest rate cut of 50 basis points by early January 2020.
He sees yields as rising.
<img src="https://www.urban.com.au/images/2019/3/22/JPEG%20-%20Yields%20to%20Rise%20International%20Comparisons%20table.JPG" alt="">
International comparisons as well as historical precedents indicate that acquisition rental yields are likely to rise between 0.85% and 1.2% (85-120 basis points) over a two to three year period post the implementation of the new policy.
"If interest rates are cut by 50 basis points, the rise in yields will be smaller at between 60 and 95 basis points."
He tips rents to rise 7-12% over 2020 to 2022.
<img src="https://www.urban.com.au/images/2019/3/22/JPEG%20-%202020%202022%20Dwelling%20Rent%20Forecasts.JPG" alt="">
<img src="https://www.urban.com.au/images/2019/3/22/JPEG%20-%20Change%20in%20National%20CPI%20and%20Rent%20Index.JPG" alt="">
"Rental changes are initially likely to be negligible due in part to a current oversupply in Sydney and some other cities.
"However, there may be an acceleration from year 2021 due to an expected sharp fall in dwelling completions.
"Brisbane and Perth are forecasted to record the largest rises."
The report envisages housing construction and completions will fall further.
<img src="https://www.urban.com.au/images/2019/3/22/JPEG%20-%20Aust%20Dwelling%20Commencements.JPG" alt="">
SQM Research forecasts the total fall in housing construction activity will amount to a 25% to 30% decline from 2019 levels.
"Given the existing falls in construction and the anticipated peak in infrastructure spend in 2021 this could have a large impact on GDP and employment in the economy," Christopher said.
"The total adjustment in the market housing market is forecasted to last for approximately three years, with most of the adjustment phase occurring within two years.
"Thereafter the market would likely return to equilibrium, having ‘priced-in’ the loss of the tax concessions."
He forsees sales turnover to fall by another 12% to 15% with most of the declines in sales to occur in the first year (FY2021).
This would result in a fall in state stamp duty revenue of approximately $2.3 billion.
The report represents an update on his 2016 research to cover the potential price, rent and turnover impact of the Labor Party’s negative gearing policy initially released February 2016.
Labor will limit negative gearing to new housing from a yet-to-be-determined date after the next election.
All investments made before this date will not be affected by this change and will be grandfathered which means that taxpayers will continue to be able to deduct net rental losses against their wage income, providing the losses come from newly constructed housing.
From a yet-to-be-determined date after the next election losses from new investments in shares and existing properties can still be used to offset investment income tax liabilities. These losses can also continue to be carried forward to offset the final capital gain on the investment.
The report presents several scenarios.
<ul>
<li>Scenario 1 - Negative Gearing cut 1 July 2020 and interest rates cut by 50 basis point</li>
</ul>
In the first scenario, The Reserve Bank of Australia cuts interest rates starting from late 2019 by half a percent (50bp). Negative Gearing is changed and CGT increases are passed and enacted on 1 July 2020.
SQM take the view there would be an overall gross yield increase of some 65 basis points after taking into account the rate cut; 25 basis points of which is passed on. Prices would still considerably fall in Sydney and Melbourne but other cities would be less affected.
There is a likelihood the housing market could rally post the interest rate cuts and leading into 1 July 2020 as investors take advantage of grandfathering. The earlier the rate cuts, the greater the likelihood of a rally. Most of the price falls would happen over later 2020 and 2021 with a potential market bottom in 2022.
Rents in Sydney and Melbourne do not lift initially on the back of some existing oversupply of rental stock. But that stock is quickly absorbed in 2021/2022 leading to an acceleration in rents.
<ul>
<li>Scenario 2 – No Interest Rate cut</li>
</ul>
In this scenario, the market takes the full brunt of the Negative Gearing change and CGT lift. Prices fall sharply with a minimal pick up in demand prior to passing of the bill (assumed 1 July 2020).
Average capital city gross rental yields lift by 85 to 120 basis points with the yield increase being shared between price falls and rent increases.
With prices falling sharply over 2020/21, housing commencements fall greater than scenario one therefore creating a larger shortage of housing relative to underlying demand in 2021/2022.
<ul>
<li>Scenario 2 assumes no recession but there would have to be serious questions on the state of the economy.</li>
<li>Scenario 3 – No Negative Gearing change and 50 basis point rate cut</li>
</ul>
This scenario assumes either the Labor Party defers the tax changes or the Liberal Government wins the 2019 Federal Election. This assumes therefore, a likely recovery in the housing market as confidence returns due to a rate cut, no Negative Gearing change and no Capital Gains Tax increases. Bank lending is less restrictive.
</body></html>

Rents to rise under Labor, negative gearing/CGT policy risky to economy: SQM's Louis Christopher

<html><body>
Public House Management Group (PHMG), CEO and founder Mitchell Waugh has sold the Woollahra Hotel and Bistro Moncur.
It has been bought by other members of the Waugh hotelier family headed by his brother Ashton.
An Australian Financial Review report that the Ryan family had paid $50 million was not the case 
Mitchell Waugh and wife Harriet will be stepping away from the Woollahra venues next month to focus on the rest of their portfolio.
Mitchell Waugh has been at the helm of Bistro Moncur and the Woollahra Hotel since the Waugh family purchased the venues in 2015.
Waugh will retain his position at the head of PHMG, owning in entirety the Royal Hotel Paddington, the Marrickville Ritz and The Toxteth.
The reopening of the Toxteth Hotel in Glebe last August followed an extensive six-month refurbishment of the interiors, exterior and an overhaul of the food and beverage offering.
Affectionately known as ‘The Tocky,’ the venue was purchased by PHMG for $22 million-dollars in February 2017 from Geoff Dixon and John Singleton’s Riversdale Group.
“Saying goodbye to Bistro Moncur is bitter-sweet for us, this was our first venture in the restaurant business, and we have thoroughly enjoyed growing in this space," Mitchell said.
"We took some great learnings from restaurant ambassadors Guillaume Brahimi and Damien Pignolet and there is a vision to increase the food offering of the group in the near future."
The Woollahra Hotel, one of the eastern suburbs' iconic celebratory watering holes, has been regarded as one the jewels of the Sydney pub market, having been associated over past decades with the likes of Alan Bond and even Abe Saffron.
It was a depressed market back in 2011 when the White family sold the hotel with rival interest reportedly came from Leon Fink and John Singleton.
On its purchase from the White family, its co-owner Damien Pignolet's services were briefly retained as executive chef at Bistro Moncur.
The rumoured $30 million acquisition in 2015 of The Woollahra by Public House Management Group - fronted by brothers Mitchell &amp; Ashton Waugh - followed other recent acquisitions.
PHMG is now focused on a complete renovation of The Royal Paddington, which Micthell says will involve a “complete overhaul.
Waugh sat down with the Wentworth Courier to reveal he had offloaded his share to two other investors who were part of the original purchase. 
“It feels like a new chapter for me.
"All family companies have problems when they go generational, they come to a point where different personalities, kids, might be the second or third generation, they have to go their own way so I’m very proud that we’ve been able to find a way to do it amicably and move on.
"But now I have my two daughters, who are very stubborn, very strong willed and I need to start thinking about them and establishing.”
</body></html>

Waugh family reshuffle with Woollahra Hotel ownership

<html><body>
A beach box on Mount Martha's South Beach has sold for $342,500.
Recently painted, <a href="https://www.realestate.com.au/sold/property-house-vic-mount+martha-129536402" target="_blank">box 90</a> is located in prime position, directly across from the village shops and restaurants.
 <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/2019/3/20/Mt-Martha1.jpg" alt="">
The nearby <a href="/news/vic/recently-restored-mount-martha-beach-box-listed">beach box 98</a> has been listed with a guide of $310,000 to $340,000.
It's been restored since trading for $215,000 in 2014.
 
 
 
 
 
</body></html>

Mount Martha beach box fetches $342,500

<html><body>
The RBA's recent discussion around housing was "quite understated," according to the Westpac chief economist Bill Evans.
He noted the latest minutes indicated “the process of adjustment in the housing market had continued.”
Evans said there was some recognition by the RBA board members of the spill-over of housing prices to activity, “some part of the slowdown in retail and motor vehicle spending in NSW was likely to have been related to declines in housing prices”.
Evans also said he was "disappointed" to note that the RBA was persisting with a view that “the pipeline of work to be done remained large and was expected to support dwelling investment through 2019”.
Evans said that dwelling investment peaked in mid-2018 with around a six per cent fall in the second half of 2018.
He supports the RBA’s expectation for a “marked slowing in dwelling investment”, but expects that this has come earlier than their expectation of “in 1-2 years’ time”.
<div>
Evans noted the RBA has raised the importance of data releases over the next few months and left open the possibility to cut rates should those releases disappoint.
"Certainly, the December quarter national accounts would have fitted into that category, although the emphasis remains on the labour market data.
"Westpac does expect that consistent with the slowdown in spending and deterioration in both business and consumer confidence, we will see emerging evidence of a slowing labour market over the course of the next six months.
"Westpac’s timetable for policy action remains a 25bps cut in August to be followed by a second 25bps cut in November.
"These dates will give the RBA appropriate scope to explain their decisions in the context of weaker growth, employment and inflation forecasts in an orderly fashion, rather than be seen to overreact to any particular data report," Evans said.
</div>
</body></html>

Bill Evans says the RBA's view on dwelling pipeline was disappointing

<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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News