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EXPERT OBSERVATION
Victoria continues to be the State of choice for Australian property investors, backed by strong levels of government infrastructure spending, robust population growth and an enviable performance record.
According to CoreLogic’s recently released Home Value Index tracking property price movements over the last 20 years, Melbourne has outperformed other Australian cities.
Over the past 20 years Melbourne has witnessed a 274.6% increase in property prices, the highest growth of any Australian capital city. This is also significantly higher than the average national dwelling increase of only 197.4%.
Sydney saw only a 201.9% change during the same 20 yea But it also stacks up as a star performer over the shorter term. Zooming in on the last five years, Melbourne remains a strong performer with 29.6% growth in property prices according to CoreLogic.
<img src="https://www.urban.com.au/images/2019/3/11/Nihill%201.JPG" alt="">
Melbourne will continue to remain a prime investment location supported by strong population growth, stable political leadership and a high level of government investment in infrastructure.
2018 saw a boom in population growth with Victoria taking out the number one in CommSec's "State of the States" economic rankings, outranking New South Wales for the very first time.
In fact, Victoria experienced Australia’s largest population growth between 2016 and 2017 with Melbourne experiencing the largest and fastest growth of all capital cities.
According to the Australian Bureau of Statistics, Melbourne grew by approximately 144,400 people at a growth rate of 2.7%. This record population growth continues to fuel demand for housing maintaining an overall undersupply in the market.
It is predicted that Melbourne could become Australia’s largest city as early as 2030 with its population expecting to reach 6.1 million.
<img src="https://www.urban.com.au/images/2019/3/11/Nihill%202.JPG" alt="">
The Victorian economy has arguably been the best managed State across both sides of government for decades providing a resilience unseen in other states. The Victorian Government is committed to ongoing investment in world-class transport infrastructure including the $11 billion Metro Tunnel Metro Tunnel and the $1.75 billion Regional Rail Revival program.
It is undeniable that the housing market slowdown will dominate the headlines for the foreseeable future, but the reality is that the property market is dynamic and there are always opportunities if you know where to look.
As always, investors need to do their homework and seek professional advice and ensure decisions are backed by strong fundamentals before leaping into any investment opportunity.
JAMES NIHILL is the Managing Director of Patrick Leo, a Sydney based property advice and services company
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j.ballantyne1990-6AQqhLzZaK

Melbourne a surefire bet for long-term gains: James Nihill

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The NSW Central Tablelands market appears to be tracking as it did throughout most of 2018, where the number of properties being offered to the market appears to have eased and the volume of sales is less than 2017, according to the latest Herron Todd White (HTW) rural report. 
The report suggest whilst the supply of properties has eased, demand for rural holdings remains reasonably strong at present. This demand has been evident at recent auctions where there are still a good number of active bidders contesting.
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"This balance of supply and demand for rural property has buoyed value levels somewhat, despite the present poor seasonal conditions.
"The (fewer) rural holdings that have sold recently indicate that value levels remain strong and the general levels we saw the market climb to in 2017 and 2018 remain in place," says the HTW valuer. 
A 500 acre farm in Gulgong has been recently sold for $440,000 (pictured above).
Situated at <a href="https://www.realestate.com.au/sold/property-lifestyle-nsw-gulgong-7982670" target="_blank">1036 Dunrridgerie Road</a>, the property comprises of 100 acres suitable for cultivation and the rest for graing or lifestyle.
The accomodation comes with three bedrooms, power, phone and satellite TV.
Other features include equipped bore, 6 dams and sheds.
<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/2019/3/5/kanimbla%20.jpg" alt="">
Kanimbla Grange, a 25 acre property with views over the Kanimbla Valley is currently on the market with $750,000 hopes (pictured above).
Located at <a href="https://www.realestate.com.au/property-other-nsw-kanimbla-700022126" target="_blank">186 Kanimbla Drive, Kanimbla</a>, the cabin style home comes with wood heating and country kitchen.
Kanimbla Grange also features camping, fishing and picnicking spots and frontage to the Cox's River.
A notable Central Tablelands sale in 2018 was that of <a href="https://www.raywhite.com/nsw/blayney/1851346/?lang=en" target="_blank">Farrentoureen, Barry</a>, selling for $4.5 million in July 2018. Farrentoureen is a 407-hectare high rainfall grazing property located 16 kilometres south of Blayney.
This sale analyses to show a strong $9,525 per hectare (excluding buildings) for open arable grazing country. 
"We are aware of several following sales nearby to the south in the Woodstock achieving a price per hectare rate (excluding buildings) of between $7,500 and $8,250 for their typical open arable grazing country components," says the HTW report.
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The most active buyer group throughout 2018 in the Central Tablelands appears still to be local farmers seeking nearby and neighbouring land to expand their existing enterprises, along with out-of-district farmers relocating into the area.
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Another recent sale was Clearview, a 41 acre property at Mudgee for $1.26 million (pictured above).
Located at<a href="https://www.realestate.com.au/sold/property-lifestyle-nsw-mudgee-7988822" target="_blank"> 446 Rocky Waterhole Road</a>, it comes with elevated four-bedroom house, established orchard and quality infrastructure including three large machinery sheds.
The homestead features master bedroom with ensuite, two large living areas, chef style kitchen, and entertaining deck with views. 
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Farm values remain strong in Central Tablelands' rural market: HTW rural 

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The pressure of Australia’s ageing population and growing desire for affordability calls for an investigation into the diversity of housing options such as Manufactured Home Estates (MHEs), according to PRD Nationwide.
Aged care and retirement villages are the two more common accommodation choices, whilst Manufactured Home Estates (MHEs) are less recognised.
PRD Nationwide define MHEs as a house like structure that are traditionally designed to be moved, not permanently attached to land (pictured).
However, in recent years there has been a move towards more luxurious and permanent structures.
MHEs are found in purpose-built parks, made up of manufactured homes exclusively, and are often targeted to the over-50s age group.
These homes are managed/owned by a park owner. A resident can purchase the house structure but not the land.
MHEs may offer a more affordable alternative with remarkable investment benefits in a highly demand driven market. However, there is a lack of industry information available.
As a result PRD Nationwide is launching a research project of which the primary aim is to determine the affordability of MHEs, the possible benefits, and potential problems of MHEs for both residents, developers and operators.
The secondary aim is to establish avenues for future research to encourage more exposure on this alternative accommodation solution.
The average listing price of MHEs in the South East Queensland (SEQ) region was $338,178, which is lower than the median house prices in Queensland metro areas such as Brisbane, Gold Coast and Sunshine Coast.
This suggests that MHEs can address some affordability issues and accommodate certain demographics of the retired population. The lower to middle wealth retirees can achieve this by selling their home and purchasing a MHE.
This will allow them to have sufficient cash left over to afford a comfortable lifestyle. However PRD found some major challenges in the MHE industry relating to:
<ul>
<li>The availability of suitable and affordable land</li>
<li>Determining what to provide and for who</li>
<li>Keeping up with demand</li>
<li>Providing a higher level of care</li>
</ul>
Based on MHE property listings in SEQ (Table 1), a buyer of an older MHE could pay as little as $110,000, yet newer MHEs are being sold for as much as $650,000 or up to $1,050,000.
They found, "the change in pricing can be explained through the introduction of recreation facilities around the MHE, as well as more luxurious fit-out within the MHE itself."
"Furthermore there is a higher tendency from the 50+ aged group to downsize from their current homes to a more lifestyle orientated MHE, as opposed to choosing a traditional aged care home with limited options."
"This suggests that MHEs are moving away from their traditional purpose as an affordable option for retirees and are now becoming a highly sought-after product for wealthier buyers and part-time workers."
"Premium MHEs are typically located in well serviced areas, have pleasant scenery, and modern facilities."
"That said, the average price of MHEs remain relatively low when compared to houses within their locality, indicating that there are still affordable MHE options available in SEQ," PRD stated.
PRD argues there are a number of reasons to pursue MHE's as an avenue for retirees ranging from:
Retirees not having to ‘break the bank’ or sacrificing their wealth.
Architects, designers, developers and sales agents will have a new line of products to create and sell.
The construction of new and/or improved MHEs will increase labour demand for builders.
Investors and MHE site/park owners will benefit from a high yielding market that has solid and consistent cash flows.
MHE’s could soften pressures on governments as their need for funding the ageing populations’ needs relaxes, allowing them to re-direct their budget into other sectors such as education, infrastructure development, and others.
"The progression of this industry can be accomplished by wielding all the valuable stakeholders with a deeper understanding of the benefits of MHEs as a retirement housing option. This will improve the decision-making practices for buyers and investors; and help to maintain sufficient, appropriate and adequate housing solutions for the ageing and retired," PRD concluded.
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Are manufactured home estates an affordable retirement housing option?

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Clarence Property is seeking to raise $20 million capital for its Westlawn Property Trust (WPT).
Its previous offering returned 22.1% last financial year and closed oversubscribed at $22 million.
Clarence is forecasting a gross distribution of 8.8% per annum for new investors, backed by the Trust's average annual return of 14.5% over the past three years and 13.8% since its inception in 1994.
WPT recently acquired a 136-lot Yamba Quays development for $70 million.
It is the last canal-front community in New South Wales, following the 1996 State Government legislation to ban further canal development.
WPT portfolio now exceeds $300 million with assets from Yamba to Brisbane.
These include master-planned communities, shopping centres and industrial and commercial buildings.
Clarence Property Managing Director Peter Fahey says the new capital raising will allow WPT to maintain its low loan to value ratio (LVR).
"This past year has been one of our most active yet, with the acquisition of a total $60 million of new assets for WPT, and the continued development of existing projects including our 500-lot Epiq Lennox masterplanned community, which is now home to dozens of families," he said.
"Part of our strategy with WPT is to maintain close to a 50% LVR, so we don't over-borrow to acquire new assets.
"We have just commenced a $5 million renovation program to improve yields and WALE at a number of our regional shopping centres, which have become the backbone of WPT.
"Looking ahead, 2019 should be a fruitful year for WPT as we build on our 1,000-strong investor base and our excellent track record of delivering returns above our forecast distribution."
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Clarence Property raising more capital for Westlawn Property Trust

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GUEST OBSERVATION
New Zealand’s Tax Working Group (<a href="https://taxworkinggroup.govt.nz/" target="_blank">TWG</a>) released its <a href="https://taxworkinggroup.govt.nz/resources/future-tax-final-report" target="_blank">final report</a> last month, with the most significant recommendation to introduce a capital gains tax.
The key motivation for the Labour-led government in establishing the TWG was to investigate a fairer tax system. For reasons of simplicity, the TWG proposes broad exclusions from a capital gains tax, including a taxpayer’s primary home and all personal assets such as collectables and artworks.
I argue that this exclusion could nudge taxpayers towards investing in art.
Taxing works of art
My research explores how the tax system can promote the arts and fair reward for artists. But I am concerned by the lack of principle or clear purpose underpinning the TWG’s collectables recommendation.
Few countries specifically privilege artworks for capital gains tax purposes. But in the United States, artworks have long qualified for roll-over relief, whereby a taxpayer can sell an artwork but not pay tax on any gain <a href="https://www.propertyobserver.com.au/https://www.congress.gov/bill/115th-congress/house-bill/1" target="_blank">if they reinvest in art</a>. This roll-over relief has been eliminated by Donald Trump’s tax reforms, but <a href="https://www.theartnewspaper.com/news/trump-s-tax-act-offers-potential-tax-havens-for-art" target="_blank">investments in special economic development areas</a> offer similar deferral opportunities or even elimination of capital gains tax liability.
A more common approach internationally is to include <a href="https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/financial-services/artandfinance/lu-en-artfinance-taxmatrix-16092013.pdf" target="_blank">artworks in a general category of personal assets</a> that are excluded, provided they are held for at least a year. France excludes sales of artworks or other collectables from a capital gains tax if the sale price does not exceed €5000 (about A$8,000). Similarly, the United Kingdom only taxes collectables sold for more than £6,000 (about A$11,000) <a href="https://www.gov.uk/capital-gains-tax-personal-possessions" target="_blank">but excludes other personal assets</a>. In contrast, <a href="https://www.ato.gov.au/general/capital-gains-tax/cgt-assets-and-exemptions/#Personal_use_assets" target="_blank">Australia taxes the gains on collectables</a> bought for more than A$500 but excludes gains on personal-use assets bought for no more than A$10,000.
The problem of categories
Once policymakers draw distinctions between types of assets for capital gains purposes, anomalies inevitably arise. The United Kingdom distinguishes between personal assets deemed to have a <a href="https://www.gov.uk/capital-gains-tax-personal-possessions" target="_blank">lifespan shorter or longer than 50 years</a>. Stamps, for example, are deemed to have a lifespan of more than 50 years and therefore potentially attract capital gains tax, whereas antique clocks or watches are deemed to last fewer than 50 years and are not taxed.
<img src="https://images.theconversation.com/files/262266/original/file-20190305-48435-1ufz3sg.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
Portrait of Omai, by Joshua Reynolds, depicts Omai, a Pacific Islander who travelled to England with the second expedition of Captain James Cook. <a class="source" href="https://commons.wikimedia.org/wiki/File:Joshua_Reynolds_-_Portrait_of_Omai.jpg" target="_blank">From Wikimedia Commons</a>, <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a>
But since plant or machinery used in a business is deemed to have a lifespan of fewer than 50 years, the <a href="https://www.pumptax.com/wp-content/uploads/old/documents/HMRC%20v%20%20Lord%20Howards%20Executors%20approvedl.pdf" target="_blank">Court of Appeal famously ruled</a> that Omai, a 250-year-old painting by Sir Joshua Reynolds, was plant that did not attract capital gains tax on disposal.
In Australia, personal-use assets include boats, furniture, electrical goods and household items. Collectables include paintings, sculptures, drawings, engravings and photographs. Disputably, personal-use assets are presumed to be wasting assets, whereas collectables are not.
Different types of assets may not fit neatly into either category: for example, furniture has a utilitarian function and eventually deteriorates but is commonly collected. It is a troubling thought that such policy distinctions may lead to a (presumably unintended) preference for the utilitarian over the aesthetic.
For the sake of simplicity, New Zealand’s TWG recommends excluding all personal assets, including collectables, from its proposed capital gains tax. Artists may incidentally benefit from such an exclusion. A wealthy person might choose to invest in artworks to hang on the walls of their tax-free principal residence. In Australia, the tax nudge is in favour of non-collectable personal-use assets.
An investor might even choose to invest in artworks rather than, say, listed shares. These investment decisions could have a beneficial trickle-down effect for living domestic artists, although purchasing works by internationally recognised artists with established track records may be a more attractive investment option.
Proposed exclusion for artworks
Capital gains tax is an inherently complex tax. The complexities are exacerbated once politically necessary exemptions are introduced. Every deviation from the fundamental principle that all receipts should be taxed diminishes equity. But equity is not the only generally accepted tax principle. Efficiency, neutrality, sustainability and simplicity, among other criteria, should also be considered.
With regard to personal assets, the TWG has elevated simplicity above other pertinent considerations. Consequently, wealthy people might continue to receive tax-free capital gains by investing in their principal residence and collectables. This possibility would be unfair, inefficient, non-neutral and unsustainable.
Promoting the arts in the public sphere and the economic well-being of artists is most effectively pursued through direct grants and subsidies, but a proportionate capital gains tax exclusion might also assist. For example, while roll-over relief in the United States generally benefited the art market, it may have been a disproportionate way of promoting public access to the arts or helping artists most in need.
A painting by an old master stored in a bank vault has no immediate social benefit.
So how might a tax exclusion benefit the arts and artists?
First, no distinction should be drawn, as Australia does, between personal-use and collectable assets, because a nudge towards personal-use assets may discourage investment in artworks.
Second, a cap on the value of excluded collectables, say NZ$10,000, might encourage purchases of less expensive artworks created by emerging local artists.
Third, for more valuable artworks a rebate might apply for public display. For example, if an owner lends an artwork to a public gallery for half the period they own it, a 50% rebate could apply. If the New Zealand government takes up the TWG recommendation for a capital gains tax, proposed exclusions could be modified to benefit the arts and artists. Australia might also usefully reconsider how it treats artworks for tax purposes.<img src="https://counter.theconversation.com/content/112765/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;">
Jonathan Barrett, Lecturer, Victoria University of Wellington
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/new-zealands-proposed-capital-gains-tax-could-nudge-taxpayers-to-invest-in-art-instead-of-property-112765" target="_blank">original article</a>.
Main photo;  For more valuable artworks, a tax rebate could apply if an owner lends an artwork to a public gallery. from www.shutterstock.com, <a href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a>
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New Zealand’s proposed capital gains tax could nudge taxpayers to invest in art instead of property

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GUEST OBSERVATION
What happens if you decide to jump in, <a href="https://www.bbc.co.uk/programmes/b006vb2f" target="_blank">Escape to the Country</a>-style, and flee the city rat race?
Well, for a start, <a href="https://theconversation.com/how-moving-house-changes-you-109225" target="_blank">your identity begins to change</a> in response to the new place around you. This change happens inside you, but is also reflected in the objects you surround and clothe yourself with.
My recent research looked at the stories of two women who moved from the city to the country and published books about their experiences. Hilary Burden moved from London to rural Tasmania and wrote about it in <a href="https://www.allenandunwin.com/browse/books/general-books/biography-autobiography/A-Story-of-Seven-Summers-Hilary-Burden-9781742376844" target="_blank">A Story of Seven Summers</a>. Margaret Roach, author of <a href="https://www.goodreads.com/book/show/8218719-and-i-shall-have-some-peace-there" target="_blank">And I Shall Have Some Peace There</a>, moved from New York City to rural upstate New York. The two women tell the story of their moves, but at the same time, they narrate a journey of changing identity that is shared with others through the clothes they wear.
In memoirs such as these, the authors interpret the events they write about, but so does the reader, who brings their own understandings to their imagined experience. This allows readers to imagine a new way of living too, through the pages of the book. Through this, they might <a href="https://theconversation.com/imagining-your-own-seachange-how-media-inspire-our-great-escapes-105207">imagine their own SeaChange</a>.
Clothes are part of our identity
When people get dressed each day, they let others know who they are, or who they think they are, in an identity-sharing performance. The clothes the authors discuss in the pages of their memoirs effectively map how their identity changed and how they shared this change with the people around them by wearing different styles of clothes from the ones they wore before. These items combine to produce a narrative that lets others understand those around them more clearly.
Most of the time people are not even aware that they are doing this. They just pick and choose the things they like from the vast array of options open to them.
Sometimes, however, it becomes clear that the clothes that once worked for a person just do not “fit” any more. This can happen in the process of life transformation, including moving from the city to the country the way these women did.
Roach had experienced a long and successful career at Martha Stewart Omnimedia. She knew how to dress for her professional role and had confidence in sharing her wealth and status through the expensive suits she bought. When she moved to the country, however, she could not dress in the same way. With her career behind her, she asked herself: “Who am I if I am not mroach@marthastewart dot com any longer?”
Unsure, and in pyjamas
This lack of clarity about her evolving identity is shown in the pyjamas she starts to wear during the day. Far from familiar terrain, and experiencing a state of flux and transition, Roach finds it simpler just to remain in her nightclothes and not have to figure out her new identity via the clothes she wears. Understanding this dilemma, Roach describes how her old way of living no longer fits her new self: 
"…like the wardrobe hanging in my closet, a vestige of a life left behind, it just doesn’t resemble me any longer."
She talks about how her clothes no longer fit, mentally or visually, with her new life in the country. With real insight, she writes: 
"The outside packaging … has to match what’s going on inside of me."
This understanding enables her to finally reconcile who she is to where she now lives. Once she negotiates this process, she is able to manage the transition of her clothing and visual identity to what works in her new country home.
Burden’s move across oceans starts a similar journey. She writes:
"I knew I wanted to shed the stuff I associated with cities: suits … dressing up, being very important or busy or loud."
These had once enabled her to present and perform her class identity and status to others, but they no longer suited her work outside at a farmers’ market in rural Tasmania. Her clothes needed to fit the time and place she lived in, but she found they did not. These old clothes end up in garbage bags on a journey to the op shop, and Burden adapts to share her new identity through her clothes.
These memoirs offer a glimpse into lives and identities within the imaginative space they create, permitting identity to be shared through language and text. They show how moving to the country impacts identity, and how these people need to work through this process of change to adapt to their new life and feel comfortable in their new location.
Next time you contemplate moving to the country, just be sure to factor in the cost of a whole new wardrobe!<img src="https://counter.theconversation.com/content/112137/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;">
Rachael Wallis, Lecturer and Research Fellow, University of Southern Queensland
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/new-home-new-clothes-the-old-ones-no-longer-fit-once-you-move-to-the-country-112137" target="_blank">original article</a>.
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New home, new clothes: the old ones no longer fit once you move to the country

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Sustained population and employment growth on the Gold Coast will underpin the city’s continued maturation as a service centre and business hub, which will in turn strengthen its office market, according to recent research from Knight Frank.
Tania Moore, Knight Frank Partner and Joint Head of Gold Coast, said tenant demand in the region’s office market was steadily improving following the first half of 2018 where business was interrupted by the Commonwealth Games.
“The second half of 2018 and into 2019 has seen stronger levels of tenant enquiry, and we forecast this will only get stronger as the city’s population continues to grow, along with employment growth, which is underscoring office demand,” she said.
The report found, the number of workers on the Gold Coast grew by 24% in the five years to November 2018, with the two fastest growing white collar sectors being Finance &amp; Insurance (up 58%) and Education &amp; Training (up 45%).
Moore said tenant demand in the Gold Coast’s office market had remained dominated by local businesses, but there was a growing core of larger corporates with branch or head offices located in the region, including National Disability Insurance Agency, Mantra Group (Accor) and Wyndham Vacation Resorts and Asia Pacific, creating competition between the two tenant groups for limited stock.
“With only 37,500 square metres of supply added to the Gold Coast market over the past 10 years, equating to a 9% growth in the stock base, there is a relatively small pool of modern assets which can handle the higher employee densities required for major corporate branch offices, processing centres and call centres,” Moore said. 
“This concentrates demand into these relatively few assets and can require tenants to compromise on location or efficiency.
“This disconnect between the wish lists of tenants and the available stock on the ground is likely to only widen in the coming years with limited supply anticipated.”
The Knight Frank research found supply in the Gold Coast office market remained low but pre-committed new construction was beginning to flow through with Acuity Business Park to start construction in Robina.
“The supply of new office space across the core Gold Coast precincts remained stalled during 2018 with only 2,744 square metres of refurbished space returning to the market,” said Jennelle Wilson, Knight Frank Partner, Research and Consulting.
“Supply is expected to remain small, sporadic and pre-commitment driven in the medium term.”
The Knight Frank report commented that total vacancy in the Gold Coast office market was 11.6% after hitting 12% in mid 2018, and up from the 10-year lows of 10.6% in January 2018, according to Property Council of Australia figures.
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Population and employment growth to boost Gold Coast office market: Knight Frank

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A development site in the heart of the Redcliffe Peninsula has sold for $2.05M following a strong expressions of interest campaign at <a id="LPlnk88021" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGO7DMGnvuLN24WgKnl++U0/tpzw7tJTb+1xE4KjbPfKc=&amp;rh=ff00470b970cbdd99f26a9b6eb429b12c49c684e" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">8-10 Duffield Road, Margate.</a>
The asset came with a 2,430 sqm land area and was a flat, cleared site, that stretched over three allotments.
The site was marketed and sold by Ray White Special Projects Queensland Directors Matthew Fritzsche and Andrew Burke.
Mr Fritzsche said the asset was sold on behalf of a syndicate and was purchased by a local private group.
<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/2019/2/14/Aerial_018.jpg" alt="">   “We had a strong level of enquiry throughout the campaign, and the fact the process ended with multiple offers, highlights just how good the opportunity was,” he said.
“The purchaser’s intention is to develop the site into an apartment project, taking advantage of the proximity to the ocean and sea views stretching to Moreton Island.”   Mr Burke said the location of the site was a real drawcard with potential buyers, with plenty of amenities on the doorstep.
<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/2019/2/14/Aerial_038.jpg" alt="">   “Being in the heart of the Redcliffe Peninsula means key facilities like schools, shops, medical, education and recreation are all in close proximity,” he said.   “To complement, you’ll only be 60* metres away from the Woolworths-anchored Margate Village shopping centre, and just 4km* to Kippa-Ring train station, offering a direct link to Brisbane CBD.”
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Margate development site sells for over $2 million

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Cushman &amp; Wakefield announced the acquisition of one of South Australia’s largest trade services businesses, the Smith Brothers Group (Smith Brothers).
Comprising 200 people the Smiths Brothers team will join Cushman &amp; Wakefield’s Australian occupier services platform and be part of the company’s Global Occupier Services network.
The acquisition of Smith Brothers, one of the largest private services groups in South Australia with a national portfolio of 6,000 customers adds to Cushman &amp; Wakefield’s existing national team of more than 1,800 property professionals.
As part of the acquisition, Smith Brothers founder, Chris Smith, will lead Cushman &amp; Wakefield’s trade services business in Australia and New Zealand.
Matthew Bouw, Chief Executive Officer, Asia Pacific, Cushman &amp; Wakefield, said, “I am thrilled to welcome Chris Smith and the team to Cushman &amp; Wakefield. This acquisition combined with our 27,000+ facilities management associates globally, advances our ability to deliver the highest quality, globally integrated services to major occupier clients in any market across the world.”
James Patterson, Chief Executive, Australia and New Zealand, Cushman &amp; Wakefield, commented, “this acquisition not only expands occupier services with an additional 200 staff in South Australia, it also adds to the current depth of experience and capability in education, government and health.
Chris Smith, Smith Brothers founder and newly appointed Head of Trade Services, Cushman &amp; Wakefield said, "we see tremendous value for Smith Brothers clients and staff in joining Cushman &amp; Wakefield. 
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Cushman & Wakefield acquires South Australian trade services business Smith Brothers

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Three registered bidders competed for a dual-level warehouse sold after successful post-auction negotiations for $635,000.
Situated at <a id="LPlnk547633" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGwRIY/y58u2KAA1eFDlkOjV7G+jvj3+NpRSjpD4TpjqQ=&amp;rh=ff00470effe117c9e85679cec8428ffade37974d" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">5/8 Samantha Court, Knoxville, Melbourne</a>, the asset came with a 368 sqm building area, comprised of 193 sqm warehouse and 175 sqm office
It was bought by an owner-occupier.   The asset was marketed and sold by Ray White Commercial Glen Waverley Managing Director Ryan Trickey.   Mr Trickey said being in the industrial heart of Knoxville, with its strong road links, made the property particularly appealing to potential buyers.
<img src="https://www.urban.com.au/images/2019/2/14/5_8%20Samantha%20Court%20-%202.JPG" alt="">
“The industrial precinct of Knoxfield has served generations of industrial businesses because of its ability to meet all of their core needs; broad access roads, proximity to major arterials, and uninterrupted working space,” he said.   “Knoxfield’s reputation and perceived capital value is on the rise with the addition of the new business centre just up the road with Home Consortium joining McDonald’s and Bunning’s Warehouse, along with an 88-unit development.   “The City of Knox is seeing huge growth, with residential developments planned at Stamford Park and Waterlea, as well as extensions to Westfield Knox in the pipeline.   “Road access is great as the property is within a five-minute drive to Eastlink, Stud Road, Ferntree Gully Road, Scoresby Road, Burwood Highway and Dorset Road.
“The office has been constructed to a high standard to ensure longevity and suitability for future use, and has a ‘warm shell’ on entrance.
<img src="https://www.urban.com.au/images/2019/2/14/5_8%20Samantha%20Court%20-%203.JPG" alt="">   “The warehouse is a clean, open-plan concrete floor space with high clearance and clear roller door access, along with a more-closed area behind the office construction, which could easily be converted to storage/office.   “The three registered bidders appreciated the opportunity on offer and we successfully reached an outcome the vendor and one of the parties was happy with post-auction.”
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Knoxville warehouse sells post-auction for $635,000

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

Joel Robinson

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

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Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
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[smartcode_project_cta:default project_id=4896]

Above Zero launches Camberwell House in undersupplied Camberwell Junction precinct

<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, <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, 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]

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;

Staff reporter

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