Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Australia Post is one of the country’s most trusted institutions, powering one of the largest delivery networks in Australia. As online shopping continues to scale, Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online.

That scale of eCommerce activity has fundamentally changed expectations around how and when parcels arrive, and what happens when someone isn't home.

<h3>Problem solved with Parcel Lockers</h3>

The traditional alternatives to home delivery are far from ideal. Buildings can rely on reception teams to manage deliveries, which introduces ongoing staffing costs and liability concerns. Parcels can be left in common areas, which creates security and aesthetic issues. Or residents are redirected to nearby Post Offices for collection, which shifts the inconvenience rather than solving it.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/dVG5ChLHf7E?si=D9hQRGCBuzlSQBqK" title="YouTube video player" width="560"></iframe>

The data behind that frustration is significant. Nationally, around 9 per cent of deliveries are carded, meaning the recipient was not home and must collect the parcel from a Post Office. That figure reflects the national average reported between November 2025 and January 2026. In Melbourne, that figure rises to 20 per cent. In high-density living, it climbs again to 28 per cent. In other words, more than one in four deliveries in Melbourne apartment buildings results in a failed first attempt.

<h3>How Parcel Lockers work</h3>

The mechanics are simple. When a parcel arrives, the resident receives a notification either through the Australia Post app or via SMS. They scan a QR code, use their one-time PIN and the compartment opens. The parcel is secure, accessible and removed from the lobby floor.

Located in thoughtfully chosen, easily accessible areas, including external building interfaces, mixed-use precincts or shared communal zones, Parcel Lockers enhance convenience without requiring internal building access or additional operational oversight.

<h3>The scale of the network</h3>

This expansion represents Australia Post's largest investment in parcel infrastructure to date, building on momentum that began in 2011 when the first 24 Parcel Locker sites were introduced.

Today the Australia Post Parcel Locker network spans over 1,400 locations and more than 105,000 individual compartments, with major investment already underway to significantly expand the network further.

<h3>What it means for developers and building operators</h3>

A Parcel Locker bank is free to install and free for residents to use. That removes one of the primary barriers to adoption and shifts the conversation from cost to integration.

Australia Post's preference is to engage with developers during the design phase. That allows Parcel Lockers to be located in a considered, publicly accessible space that works for residents and the broader community. Retrofit is possible, and existing buildings can be assessed, but the strongest results occur when Parcel Lockers are treated as part of the core services plan rather than a bolt-on solution.

While the iconic Australia Post red is widely recognised, Parcel Lockers can also be delivered in more muted palettes such as beige or green to align with architectural intent.

For developers, they offer a tech-forward amenity that meets modern expectations, a reduction in courier congestion and building-management load supporting lower emissions and better ESG outcomes, and a meaningful marketability advantage in high-density, eCommerce-active areas, all at no cost for installation and maintenance, with Australia Post funding the program aside from power access.

<h3>Who's using them</h3>

Generational shopping behaviours show strong, sustained growth across all cohorts. Millennials (27–43) led online spend in 2024, contributing nearly $25 billion. Baby Boomers (60–78) increased their online spend by 17.6 per cent, becoming the fastest-growing adopters. Gen Z (13–26) and Gen X (44–59) continue to lean on delivery services as part of their everyday shopping habits.

Internationally, uptake is even more pronounced. Overseas markets are seeing rapid adoption by both developers and consumers, positioning Parcel Lockers as standard infrastructure in many new residential projects. For Melbourne's development community, this signals a shift in baseline expectations. Just as secure bike storage and dedicated parcel rooms have become more common, integrated Parcel Locker networks may soon be viewed as part of the essential service mix.

<h3>The bigger picture</h3>

Parcel Lockers aren't just a logistics fix. Developers invest heavily in lobby design, materials, lighting and landscaping to shape first impressions. Yet a stack of unattended parcels can undo that effort in an instant. Embedding parcel infrastructure early allows projects to respond to how people actually live today, supporting resident satisfaction, reducing operational strain and aligning with broader community and ESG outcomes.

As Belinda Quinn, Senior Transaction Manager – Retail &amp; Out of Home at Australia Post, puts it, residents increasingly expect delivery solutions that align with real life, are flexible, secure and available whenever they need them.

How Australia Post is solving the parcel problem for apartment living

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Investors need to know when they will be liable for land tax – and how much it will cost them.
Thresholds differ around the country and are typically changed in state budgets, so all eyes will be on tomorrow’s NSW state budget.
In October land tax reform will be on the agenda at the government’s Canberra tax summit.
According to government figures, land tax contributes 11% to state coffers.
In general property investors are required to pay land tax on the value of their properties above a certain value, except in the Northern Territory, where there is no land tax. Thresholds range from $25,000 to $600,000
The tax can add a significant amount to your investment bill, so knowing when the tax kicks in is crucial.
To help investors Property Observer has compiled this guide of must-know numbers:
 
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<img src="/images/stories/0dollars.jpg">
No land tax is payable in the Northern Territory.
 
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<img src="/images/stories/600k.jpg">  
The upper limit for a land tax-exempt property in Queensland, the state where investors can spend the most without having to pay land tax. However for companies, trustees or absentees, the threshold kicks in at $350,000 Click <a href="https://www.osr.qld.gov.au/land-tax/index.shtml" title="Queensland government land tax" target="_blank">here </a>for more information.
 
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<img src="/images/stories/387k.jpg">  
The land tax threshold in NSW. Click <a href="https://www.osr.nsw.gov.au/taxes/land/" title="Land tax threshold in New South Wales" target="_blank">here </a>for more information.
 
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<img src="/images/stories/316.jpg">  
The land tax threshold in South Australia. Click <a href="https://www.revenuesa.sa.gov.au/landtax/index" title="Land tax threshold" target="_blank">here </a>for more information.
 
<hr>
<img src="/images/stories/300k.jpg"> 
The land tax threshold in Western Australia. Click <a href="https://www.finance.wa.gov.au/cms/content.aspx?id=174" title="Western Australia" target="_blank">here </a>for more information.
 
<hr>
<img src="/images/stories/247k.jpg"> 
The land tax threshold in Victoria. Click <a href="https://www.sro.vic.gov.au/sro/SROnav.nsf/LinkView/DF4424845447E2EDCA2575A1004453B6A6FAB6BE64979127CA2575A100441FA4" title="Victoria land tax" target="_blank">here </a>for more information.
 
<hr>
<img src="/images/stories/75k.jpg"> 
The threshold for land tax in the Australian Capital Territory. Click <a href="https://www.revenue.act.gov.au/land_tax" title="ACT land tax" target="_blank">here </a>for more information.
 
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<img src="/images/stories/25thous.jpg"> 
Property is cheapest in Tasmania, but it also has the lowest threshold for land tax. Click <a href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/41E02F84487BB0F3CA25764D00072C26?OpenDocument&amp;menuitem=Land%20Tax" title="Tasmania land tax" target="_blank">here </a>for more information. 
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Land tax by the numbers: What investors must know

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Until the Sydney market returns to very strong conditions, the CIC Australia development company expect its South Coast sales to remain slow.
The company’s Bay Ridge development, a 142-block housing estate at the intersection of the Kings Highway and the Princes Highway about a kilometre north from Batemans Bay, has been slow to sell.
CIC was resigned to delivering the project over a number of years at a slow rate in response to market conditions, its shareholders were recently advised.
“Until such time as the Sydney market returns to very strong conditions we expect Bay Ridge to remain slow,” it says.
The Canberra-based property developer CIC Australia is part of Sir Ron Brierley’s Guinness Peat Group and is listed on the Australian Stock Exchange.
Bay Ridge was aimed at both locals and sea-changers relocating from Canberra and Sydney.
The lot sizes start at 2,500 square metres, offering the opportunity to build a large home without the constraints of a small block. With a 3,800-square-metre average size, the development seeks to combine a rural character with the convenience of town services including water, sewerage and communications.
The blocks of land start at $199,000, and house-and-land packages start with Masterton Homes at $582,000.
Notwithstanding the fact that the NSW South Coast market remains very slow, the company did recently sell the last of its lots at CIC’s Glen Mia development at Bega.
Competition was strong at the final auction in early February, and all lots were sold above the reserve.
CIC Australia commenced operations in Canberra in 1986 then under the name Jerrabomberra Estates Limited.
CIC has reported a profit after tax of $6.2 million for the six-month period based on strong presales in Canberra and Adelaide.
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Residential building block sales very slow on NSW South Coast

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Home alterations and additions have escaped the fiscal consumer tightening, with a 4.5% annual jump in spending during the June quarter.
With an Easter and onwards fillip in alteration work around the home, some $1.72 billion was spent during the June quarter.
It was the highest June quarter outlay since 2008.
With spring in the air, and in the lead up to Christmas, the December quarter has always rated as the busiest quarter since ABS records began in 1987.
The only exception was in 2000 when – with the GST looming – the June quarter topped that year's quarterly outlay with $1.64 billion on alterations and additions.
In the 2010-11 financial year Australians spent $6.8 billion on alterations and additions.
It was $6.52 billion in 2009-10 and $6.64 billion in 2008-09.
The details were in the ABS preliminary statistics for the value of work done in Australia during the June quarter.
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Spike in renos undeterred by property gloom

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In <a href="https://www.propertyobserver.com.au/residential/land/understanding-land-valuation/2011080851071" title="Understanding land valuation" target="_blank">part one </a>of a two-part series on land valuation, we examined the nuts and bolts of what you need to know. In part two, we talk about the people who are part of the process: valuers and real estate agents.
VALUERS 
Valuations are ordered when a definitive value for a property where finance, settling a dispute, or establishing the value of a deceased estate is required. 
There are many valuation firms that are hired both by buyers and buyers’ agents, vendors and developers and lending institutions, bringing an independent eye that can provide essential knowledge to ensure that all parties can make an informed decision about a particular property on the market and its deemed market value.  The valuation of residential property is a diverse field and includes suburban residential, prestige homes, beachfront dwellings, thousand-lot multi-stage residential subdivisions to smaller scale unit developments and commercial/retail. 
A certified practising valuer will conduct a full inspection of the nominated property, carry out research and analysis into the local market with comparisons to recent sales and submit a detailed report providing information and commentary on issues affecting the current market value of the property. 
Typically reports include:
<ul>
<li>An executive summary detailing the property and business.</li>
<li>A site appraisal specifying;</li>
<li>Land particulars </li>
<li>Improvements </li>
<li>Market comments </li>
<li>Income analysis </li>
<li>Sales evidence </li>
<li>Rationale </li>
<li>A valuation reporting summing up the analysis. </li>
</ul>
There are three ways a valuer may value the subject property:
<ol>
<li>Full value – this involves the valuer undertaking a full inspection of the property, including an internal inspection.</li>
<li>Kerbside – the valuer literally stops outside the property and does not undertake an internal inspection.</li>
<li>Desktop – this involves the valuer collecting comparable sales data based on the description of the property and where no physical site inspection takes place. 
</li>
</ol>
Depending upon who has ordered the valuation determines how they will use it.
For buyers who are not sure if they are paying too much or how much to offer, <a title="Property Checks" href="https://htw.com.au/services/researchcentre.aspx"></a>a pre-purchase valuation will give reassurance about the price and many other aspects of the property before an offer is made.  As a buyer, you can use the valuation to your advantage as a bargaining tool if the valuation comes in lower than the vendor is asking.  You may also be able to do your own research and provide the valuer with comparable sales that are favourable to you.  The valuation may also confirm that what you intend to offer or what the vendor is asking is market value – but it doesn’t hurt to always put in a lower offer – you just never know if the vendor will accept or not. 
When ordering your independent valuation, you may ask for it to be formatted so that it can also be submitted to the bank in their formatted criteria and ask for it to be assigned to say in two bank names, therefore when the time comes for the bank to order a valuation, you have one on file that hopefully matches what you are trying to achieve – lower than market value or at least on contract price.  You may also be able to ask the bank to provide you finance based on the higher valuation, rather than contract price, therefore providing you with a higher loan-to-valuation ratio. 
When selling, present the valuer with information including recent comparable sales and points about your property that presents it in the best light.  Ensure the presentation reflects the price you are trying to achieve, e.g. gardens are manicured, cleaned fixtures and fittings throughout the property, declutter or accessorise fashionably. 
On the flipside, if you want a new valuation on your existing asset base so you can draw upon the equity to further your portfolio, this is when it would be in your interest to get the valuation as high as possible.  
<ul>
<li>For developers and vendors, the report will give them an idea of how to market their property and at what price point.  Too high a price and they won’t get the buyers they require, too low a price and they won’t make the profit margin they projected.  Again, an independent valuation is a tool they can use to provide buyers proof that what they are asking is fair market price.</li>
<li>Lending institutions will always order a valuation when you are taking out a loan for a new purchase or if you want to draw equity from your existing portfolio.  They need to know that the money they are lending you is financially secured by that asset and this will form the basis of their LVR (loan to value ratio) and will also provide them with a realistic sale price should they need to sell the property quickly (normally referred to as a fire sale).</li>
</ul>
Find out which valuers sit on particular banks panels by either asking the bank, broker or asking the valuer themselves.  Also find out which areas they usually value and what types of properties they value.  A bank won’t accept a valuation if the valuation firm is not on their panel.  
REAL ESTATE AGENTS 
A real estate agent has the obligation to get the best price for the vendor and will use databases and their knowledge of the local market and recent sales to provide a “market appraisal” when you wish to sell your property.  These appraisals are intended as a guide only and are not the definitive price which may be achieved for that property. 
Appoint an agent who is acutely familiar with your suburb and who does not work outside the area.  An agent who works outside of the area may result in an appraisal that is too high and not achievable, or too low essentially providing a property below market value. 
Be wary of agents who quote an extremely high price and therefore providing you with an unrealistic expectation of the final sale value.  They may be doing this just to get your business and you may wonder why you do not have any viewings.  Vendors are soon conditioned to lower their asking price to meet the market feedback.  Again, conduct your own due diligence on pricing in your local area. 
On the other hand, agents who value too low not only hurt the vendor with the end result, but can ultimately bring down values of an area if the sale is then used as comparable data with professional valuation firms and professional property databases, such as RP Data. 
As a buyer, using the services of professional database firms and independent valuers as a tool for your negotiation with the vendor and agent, plus finding out the true motivation for that sale (e.g. bought elsewhere, divorce, financial stress) and using it to your advantage, may assist you in saving thousands of dollars and purchasing that property under market value. 
If your offer has been accepted at a particular price and the valuation comes in very low after the initial offer period, I would ask for strong evidence as to why you would continue with the purchase at original agreed price based on the valuation you have received. 
At the end of the day, true market value is achieved when both parties agree on the final sale price and a settlement occurs. 
Although investing can be fun, exhilarating, scary and heart-stopping, it’s still a business and should be treated as such because that investing business could be worth millions.  I myself have called our investing “B’dearys Vision”.  It gives it a name and therefore is treated as a business entity.  Just because you like the tiles in the bathroom or the swimming pool or the colour of the walls does not necessarily make it a great investment, and it may cost you dearly investing with your heart.
While every effort has been made to ensure accuracy of this article, please refer to your state or territory’s Valuer General’s Office or Office of State Revenue for more detailed information and seek independent advice pertaining to a particular purchase.
Swarnie Condon is passionate about property investment with a total of nine properties in her portfolio.  Swarnie is co-author of the book Journeys Along the Property Path and founding partner of<a href="https://www.ipip.com.au" title="Inspirational People in Property" target="_blank"> Inspirational People in Property</a>.  Swarnie provides free mentoring services.
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The people involved in land valuation

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Let’s face it, we don’t have expensive housing in Australia, we have expensive land.  The average cost of residential land overtook the median cost of constructing a dwelling, across all Australian capitals, about five years ago.  The difference between the two is now considerable and growing.  Volume builders in Queensland are constructing quality new detached homes for well under $1,000 per square metre. 
The proof is readily available.  Across the south-east corner of Queensland, for example, the price of vacant land per metre is now 2.3 times (230%) what is was a decade ago.  Established house prices (which include the price of land) also increased, but at a lower rate – they are 1.5 times (150%) the price a decade ago.  The cost of new project homes, which exclude the cost of land, are just 0.65 times (65% higher) what they were a decade earlier. 
Land is expensive because we have a shortage of it.  To the rest of the world, such a statement would be bordering on lunacy. Australia is one of the most spacious countries – based on total land area per capita – in the western world, after all.  And yet, ironically, we are one of the most urbanized places on the planet. 
Over-governance, green politics and town planning tomfoolery are corralling us into a handful of already crowded places.  This has created a shortage of land, driving up its price and resulting in fewer economically feasible developable sites.  Land now accounts for about two-thirds of the cost of a new home in our major capitals and close to half in our regional centres. 
There is no better place to illustrate how out of whack the system is than on the Gold Coast.  The Queensland Government and the local council are doing everything they can to make housing on the Gold Coast unaffordable, and in turn, undermining employment. 
Despite what we read in the daily press, the Gold Coast market – in terms of total stock – isn’t oversupplied.  There is just way too much of the wrong stock and too little of that which is in demand. 
The oversupplied stock consists largely of apartments, mostly in high-rise towers and priced over $800,000.  By default, this targets a short-term tourist market, which for the most part cannot afford to pay the tariffs.  In contrast, apartments under $600,000 are undersupplied but are suffering collateral damage, so to speak, given the negative commentary about the apartment market in general on the Gold Coast. 
There isn’t enough new detached housing or new townhouse development on the Coast.  The SEQ Regional Plan (which covers a time period from 2008 to 2031), expects 77% of new development on the Gold Coast to be “infill” i.e. medium and high-rise dwellings.  However, just three years into the plan, only half of the new starts are in “infill” areas.  The demand for detached housing is rising and is currently about 70% of the overall demand.  It can only be provided, and at an affordable price, on “greenfield” sites.  There are plenty of these sites available on the Gold Coast. 
There is little government can, or should, do about the price of “infill” real estate.  But there’s a lot they can and should do about affordable housing in “greenfield” areas.  This is where there’s an infinite supply of land available and a housing industry ready, willing and able to build top-quality houses at unbelievably low prices. 
The Gold Coast doesn’t just need a new police helicopter, the Commonwealth Games or even a light rail system; what it needs is jobs.  Close to 25% of the region’s economic growth comes from new construction, with over 30% of its workforce employed (directly and indirectly) in the building trade.  It needs much more new detached housing. 
It also needs to open up its industrial land bank to new business.  It must incentivize new operations to move to the Coast.  It should be all about permanent jobs and industries which have higher employment multipliers, rather than one-off feel-good events, white elephants and election stunts. 
Thousands of people are being denied the opportunity to replicate what those now running the show were able to do, i.e. to get a start in the housing market.  This is not only socially and economically unsound, but morally wrong!
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
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Residential land is overpriced

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An individual property can be viewed from different perspectives such as home owner, investment or development and therefore the value of that property will be determined accordingly from that perspective. Knowing how and who values your property will assist you in making an informed decision about the buying, selling and holding process. 

There are three main types of valuations: 

<ol start="1">
<li>Valuer-General / Council Valuations</li>
	<li>Certified Valuers / Bank Valuations</li>
	<li>Real Estate Agent Appraisals / Market Value 
</li>
</ol>
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Valuer General/ Council Valuations 

Dependent upon which state or territory you live in, it is usually the role of the Valuer-General to oversee and provide updated land valuations for all properties in a local government area and to maintain complete, accurate and as current as possible valuation rolls for that State or Territory. Valuations are conducted annually in SA, Queensland and ACT, every two years for Victoria, every three years for NSW, WA and NT, every six years in Tasmania with a third of councils every two years. 

The Valuer-General is responsible for:

<ul>
<li>the provision of fair, accurate and consistent land values for rating and taxing purposes</li>
	<li>the determination of compensation following the compulsory acquisition of land</li>
	<li>providing leadership to the valuation industry and profession</li>
	<li>providing statutory valuations as required under the Land Act for that state or territory </li>
</ul>
The results of these valuations are provided to:

<ul>
<li>the Office of State Revenue annually, which manages and determines a landowner's land tax liability. Your principal place of residence is generally exempt from land tax.</li>
	<li>councils and other authorities such as water boards and emergency services as a basis for the levying of rates and taxes.</li>
	<li>departments to determine state land lease rent</li>
	<li>landowners via their notice of valuation, which is issued when their local government area is revalued.</li>
</ul>
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The Register of Land Values contains the following information:

<ol>
<li>the ownership of the land</li>
	<li>the occupation of the land</li>
	<li>the value of the land</li>
	<li>reference to the title of the land</li>
	<li>the location or description of the land</li>
	<li>the area of the land, and</li>
	<li>any other information as required by Valuation of Land Act for that particular state or territory. 
</li>
</ol>
Land values and council rating

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Councils use these land values to assist in the calculation of rates for local residents in one of three ways.

<ul>
<li>A combination of the land value of the property and a fixed amount per property.</li>
	<li>Entirely on the land value of the property.</li>
	<li>Entirely on the land value but subject to a minimum amount. </li>
</ul>
Fluctuations in land values don't necessarily lead to similar changes in rates. Rates depend on each councils rating structure and the limits to increases set by the various state and territory governments. The land value does not generally reflect the full sale price that could be obtained for the property. 

If you want to find out how your rates are calculated, contact your council. 

Land valuation process 

While states and territories differ in their approach and methodology, the general basis is that values are calculated using either the “unimproved land value” or the more common “site value” method. For the purpose of this article, I’ll use the NSW and Queensland methodologies for the explanation of each: 

NSW

<ol>
<li>Values refer to land value only, which does not include the value of your home or other improvements.</li>
	<li>Most land in NSW is valued using mass valuation, where properties are placed together and valued in groups called components. The properties in each component are similar or are likely to change in value in a similar way.</li>
	<li>Within each component, at least one representative property is valued individually each year to measure how much the value has changed from the previous year. The change in value is then applied to all properties within the component to determine their new value.</li>
	<li>Before undertaking valuations, valuers will inspect and analyse a large number of sales in a locality to gain in-depth understanding of what is happening in the real estate market. This information and the valuer’s expertise are then used to value the representative property.</li>
	<li>Where mass valuation is not appropriate, valuers will individually value the property.</li>
	<li>The most direct evidence for assessing land value is to compare the property being valued with the sale price of comparable vacant land sold around the time of the valuation date.</li>
	<li>During the valuation process, the valuer will examine the breadth of the real estate market including both vacant land and improved property sales. Valuers make allowance for the added value of any buildings or other structures on the land.</li>
	<li>Unsuitable sales, for example those between related parties, are not used to determine land values.</li>
	<li>When comparing property sales to the land being valued, the valuer may take a number of factors into consideration, including:</li>
</ol>
<ul>
<li>The location of the land, size and shape</li>
	<li>Soil type and land surface, such as slope</li>
	<li>Town planning controls and constraints on use, such as heritage restrictions</li>
	<li>Nearby development and amenities, such as parks, views, public transport and busy roads.</li>
	<li>Valuations are based on certain assumptions, including the property being vacant. The value of a home or other structures and improvements is not included. However, land improvements remain part of the land value, for example clearing, draining and filling of land. </li>
</ul>
Strata site land values 

<ol>
<li>The Valuer-General is responsible for determining the land value for the whole site of a strata scheme. The valuation will take into consideration the most valuable possible use for the whole site. This may exceed the current level of development on the site.</li>
	<li>The land value for individual strata units for council rating and land tax purposes is calculated using the land value for the whole site of the strata scheme and apportioned based on the unit entitlement listed in the strata plan.</li>
	<li>The Valuer General issues the secretary of the strata plan or the owners’ corporation with a Notice of Valuation showing the land value for the whole site of a strata scheme that will be used for rating purposes.</li>
</ol>
 

Queensland

From May 3 2011, the 58 rateable municipalities in Queensland have used the new site value methodology to value non-rural land and the unimproved value methodology to value rural land. 

Most landowners have seen very little difference in their new valuation as a result of the introduction of site value. Where there have been substantial site works made to land, landowners may see an increase in the value of the land. Approximately 95% of residential land in Queensland has not been significantly affected by the change in valuation methodology. However, the valuation of some residential land may have increased, such as land with water frontage. Other types of land also changed in value to reflect the difference in value between the land in its natural state (unimproved value) and its current state (site value).

For example, industrial estates that have been heavily filled, retained or levelled have seen the value of these improvements included in the land’s value. 

The new site value methodology has resulted in some properties, mainly commercial properties with significant leasing arrangements, having a reduction in their statutory land valuation as a result of the intangible elements no longer being considered in their valuation.

Swarnie Condon is an author of <a href="https://www.ipip.com.au/" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" target="_blank" title="Journeys Along the Property Path">Journeys Along the Property Path: 12 real life stories of 12 property investors</a>, published by Inspirational People in Property.

 
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Understanding land valuation

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The Ten Network registered a comfortable win in Sunday night's ratings with the MasterChef Australia finale securing an audience of 2.568 million.
While Ten's decision to sandwich The Renovators between the two-part MasterChef finale was criticised by viewers, the move paid off, with the struggling renovation series attracting its highest audience to date at 1.269 million.
But Nine’s The Block remained super competitive, with its extended 90-minute episode averaging 1.433 million. Some 509,000 of the audience came from Melbourne, which is lapping up the series, being presented from Melbourne.
The room reveal component netted 1.82 million viewers for The Block.
On Sunday night 951,000 watched Grand Designs on the ABC
Nine’s head of programming and production Andrew Backwell has confirmed The Block finale will be a two-hour auction show to air Sunday, August 21 from 6.30pm.
The auction will be an invite-only event on the preceding Saturday night.
Backwell expects viewing to peak at 2 million or more viewers ahead of the Sunday night premiere of new drama Underbelly: Razor.
"It will be the highest-rating night of television on Channel Nine this year," Backwell says.
"The Block finale will get a huge response.”
Nine had high hopes for The Block this year, with Backwell saying it has performed above expectations.
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Hammer and whisk battle won by MasterChef

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Adelaide’s tiniest inner-city development site – at just 90 square metres – has been sold for $205,000.
Marketed as Adelaide's smallest block, the Hamilton Place holding had been hoped to fetch $240,000 plus.
Its sale price represented 2.6% annual growth since last traded in 2007 at $184,000. It reflects 4.2% growth since it sold in 2004 for $155,000, based on RP Data’s sales history.
It was sold by Phillis Real Estate Adelaide agent Jim Phillis. The buyer intends to build on the land, Phillis says.
Hamilton Place is located between Whitmore Square and South Terrace. 
The official land value for the site in early 2010 was $125,000 and in 2006 at $89,000.
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Adelaide's smallest block sells for $205,000

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The Renovators got hammered last night, with the latest property reality show debuting with a mediocre 858,000 viewers nationally.
TV viewers preferred watching renovations earlier in the evening on Nine’s The Block, which was Sunday’s number one program, with a season best 1.828 million viewers, including 708,000 in its home city of Melbourne.
The Renovators, which screened at 8.40 pm, had less than half the audience of lead-in program MasterChef Australia, which averaged 1.734 million viewers.
The Renovators set last night in a Rosebery warehouse was beaten by the ABC’s Midsomer Murders (1.154 million) and Seven’s Bones (1.071 million).
The poor ratings for The Renovators is a big blow to Ten, which has reportedly spent more than $20 million on the show.
Ten is set to screen The Renovators six nights per week for the next three months.
The Renovators sits in a temporary timeslot, with the show set to move into Masterchef's 7.30pm timeslot once the cooking competition finishes next month.
A Channel 10 spokesperson says The Renovators achieved clear wins in its target demographics.
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The Renovators hammered on first night

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Economists have called for government action to address a long-running decline in residential land sales.
The calls follow the release of data showing residential land sales fell for a sixth consecutive quarter in March 2011, according to the latest HIA-RP Data Residential Land Report.
The volume of land sales fell to a record low in early 2011 – down 6% over the March 2011 quarter and 43% lower than the March 2010 quarter.
This is the lowest point land sales has reached since 2001, when accurate figures were first recorded.
As a result of the decline, residential construction is expected to weaken until at least the December quarter this year.
The depressed outlook follows official ABS figures which show building approvals for private sector houses fell 14% for the year to May 2011.
It also follows the Australian Industry Group (AIG) Performance of Construction Index falling to an eight-month low in June 2011, with housing and overall construction activity contracting for the 13th straight month.
HIA chief economist Harley Daley says while softer demand and over-speculation by developers in anticipation of a “fictitious” housing bubble are part of the picture, a big barrier remains the cost of serviceable land.
“Clearly this cost is excessive in a great number of areas around Australia. Governments need to address this substantial constraint on residential building which is generated by costs they impose,” Mr Dale says.
RP Data’s national research director, Tim Lawless, agreed with Dale, and placed much of the blame for low transactions volumes on an “excessive cash grab by state and local governments” on new developments which had resulted in affordability being eroded.
“On a rate per square metre basis, the cost of vacant land has exploded in recent years across most cities. Between March 2003 and March 2011 the rate per square metre price for vacant land has increased by at least 140% in each capital city analysed except for Sydney,” Mr Lawless says.
Land prices continue to rise despite the fall in the volume of sales.
The weighted median land value in Australia increased by 0.8% in the March 2011 quarter to $193,980, driven by growth of 2.7% in the median value for regional Australia (to $159,611), according to HIA and RP Data.
Over the year to March 2011, the median land value was up by 4.4% for capital cities and by 3.8% for regional Australia.
Mr Dale says the fall in demand for residential land indicates that new home starts could reach one of their lowest levels seen since the mid-1990s.
AIG director of public policy, Peter Burn, expects the difficult construction conditions experienced during 2010-11 to continue into the opening months of the new financial year.
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