<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Canberra

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Canberra has recently joined the biggest cities with strong price growth, if you can believe the numbers.
As is the case with all our capital cities, the level of growth in Canberra house prices depends on which research source you favour.
The latest figure from the Australian Bureau of Statistics records annual growth of 6.6 percent, while the Real Estate Institute of Australia says 5.1 percent. But Domain, SQM Research and CoreLogic, using their various mysterious methodologies, all have Canberra house prices (on average) rising by more than 10 percent in the past 12 months.
The uplift in price growth in the national capital is quite recent. Unlike Sydney three hours up the highway, Canberra has not been pumping for the past 3-4 years. It went through a period of malaise when the Federal Government downsized the public service and the market was also impacted by an oversupply of apartments.
Canberra has got those negative symptoms out of its system and appears to be growing again. Certainly that aligns with my analysis of sales activity, which have been elevated in the past two years.
But what really stands out for me is the uplift in activity and prices in New South Wales locations close to Canberra.
The proximity of Queanbeyan (now part of the newly-formed Queanbeyan-Palerang Regional Council area) to the nation’s capital is certainly helping local property markets.
The region has strong population growth, unemployment is low and new housing estates are under construction – helped by Queanbeyan’s affordability relative to Canberra, with median prices for both houses and units generally below those in the national capital.
Canberra prices are kept artificially high by the tight control of land releases and general dwelling supply by the ACT Government. But Queanbeyan, while closer to central Canberra than many ACT suburbs, is in NSW and has cheaper prices. Many of its suburbs have median house prices in the $400,000s while Queanbeyan, Queanbeyan East and Crestwood all have median unit prices in the $200,000s – something that’s difficult to find within the ACT.
Property sales activity in Queanbeyan increased in 2015 and 2016, leading it to become a standout region for growth, as identified in the Autumn edition of the Price Predictor Index published by Hotspotting.
Good rental yields are another attraction, with several suburbs having median yields around 5 percent for houses and 6 percent for units.
Goulburn, about 80km from Canberra, also benefits from being close to the national capital and having much cheaper house prices. It’s a growth market, partly because of local events, partly its proximity to Canberra and partly a Ripple Effect from Sydney’s growth market.
Sales activity has been rising steadily in the past 18 months and this has generated solid growth in Goulburn’s median house price (up 7% to about $350,000 in the past 12 months).
Goulburn (the LGA’s population is around 30,000) has long been a solid regional centre servicing the Southern Tablelands area of NSW near the ACT border.
Long-term, it will benefit from its location in the growth corridor linking Canberra with Sydney – with growing numbers living in affordable Goulburn and working in Canberra.
It would also be a key beneficiary of plans for high-speed rail links between Canberra and Sydney, if that grand plan ever happens.
Goulburn has more diversity to its economy than your standard regional centre, with a big wind farm industry, the presence of the NSW Police College and also the Goulburn Correctional Centre.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
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terryryder-YECXbqmri2

Canberra's strong price growth extends to neighbouring cities: Hotspotting's Terry Ryder

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The performance of house and unit resales across Canberra has continued to diverge over the past quarter, according to CoreLogic’s latest Pain and Gain report.
While only 8 percent of all dwellings resold at a loss over the quarter, this was split by 1 percent of houses and 23 percent of units.
<a href="https://www.propertyobserver.com.au/images/2017/04/21/Screen%20Shot%202017-04-21%20at%201.56.28%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/21/Screen%20Shot%202017-04-21%20at%201.56.28%20pm.jpg" alt="">
The property data firm says that while only 8.6% of all dwellings resold at a loss over the quarter, this was split by 1.1% of houses and 23.2% of units.
<a href="https://www.propertyobserver.com.au/images/2017/04/21/Screen%20Shot%202017-04-21%20at%201.56.39%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/21/Screen%20Shot%202017-04-21%20at%201.56.39%20pm.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

$20,000 losses in Canberra's unit resale market: CoreLogic

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The median Canberra house price has gone past $700,000 for the first time, following a 5.3% rise during the March quarter –  the sharpest increase in the country.
But Canberra unit prices fell by 0.6% to around $401,000, according to the Domain data.
Annual median house rents are up 7.5% and units by 8.2%.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-act-crace-125208470" target="_blank">62 Narden Street</a>, Crace (above) has been listed for $720,000 plus.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-farrer-125092154" target="_blank">27 Gluyas Street</a>, Farrer (below) was recently sold for $700,000.
<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/2017/04/20/27%20Gluyas%20Street.jpg" alt="">
A three bedroom unit at <a href="https://www.realestate.com.au/property-unit-act-bruce-125228542" target="_blank">91/31 Thynne Street</a>, Bruce (below) has been listed for $425,000 plus.
<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/2017/04/20/91_31%20Thynne%20Street.jpg" alt="">
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-act-wright-125115010" target="_blank">79/40 </a><a href="https://www.realestate.com.au/property-apartment-act-wright-125115010" target="_blank">Philip Hodgins Street</a>, Wright (below) has been listed for $395,000.
<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/2017/04/20/79_40%20Philip%20Hodgins%20Street.jpg" alt="">
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Canberra median prices goes to $700,000 for the first time

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A Forrest house designed by Canberra’s first residential architect, Kenneth Oliphant, was one of Canberra's biggest weekend sales.
It sold for $2.57 million, having last traded when Ken bought the home for $415,000 in 1995.
The four-bedroom 1940s home at <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/24-arthur-circle-forrest-canberra/1317360801611" target="_blank">24 Arthur Circle</a> attracted seven registered bidders and five parties placed a bid.
Set on 1,350 sqm, the single level home has been reinvented by Ken into a family entertainer.
Separate formal living areas each lead to outdoor areas and an entertainment patio overlooks a swimming pool and spa.
 
 
 
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Kenneth Oliphant Canberra designed home sold

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Canberra has seen a significant growth in house sale prices over the past 12 months, according to Herron Todd White’s latest report.
The property valuation firm says that this is partly due to low interest rates and a limited supply of houses coming onto the market.
Yarralumla has been one of the strongest performing suburbs in Canberra over the past 12 months.
"Several recent sales have broken the Canberra auction record, the most notable being 12 Hunter Street, Yarralumla, selling at auction for $5.475 million," the report advised.
Other recent sales show high prices in Canberra’s inner suburbs have forced buyers to look to the outer suburbs to find a family home.
"Some other areas that have seen considerable growth over the past year are Woden Valley, Weston Creek and the southern suburbs of Belconnen.
This trend is also confirmed by some recent vacant land sales from the Mr Fluffy scheme.
Recent sales have shown houses are proving more popular than apartments," the report stated.
This is probably due to an oversupply of apartments in the Canberra market and a continued number of apartment developments beginning construction.
Currently buyers seem to be attracted to 4- or 5-bedroom houses in established suburbs, according to HTW.
The valuation firm pinpointed a 4-bedroom home at 37 Flanagan Street, Garran (pictured above) recently sold for $1.38 million.
There was also a 5-bedroom home at 60 Barada Crescent, Aranda recently sold for $1.25 million.
The majority of the higher sale prices were for renovated or new dwellings.
"It could be assumed the buyers are families looking to settle into a long term family home.
"This trend looks set to continue as properties in established suburbs remain tightly held and highly sought after," the report stated.
As the Mr Fluffy vacant land blocks are now being brought to market there may be a number of new houses in established suburbs come onto the market.
This increased supply may reduce prices but is likely to take effect in the longer term as the blocks are still in the process of being cleared and sold.
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Significant price growth experienced in Canberra's residential market: HTW

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Three mixed use / residential development sites have been listed in the newly developed residential precinct of Woden Green Estate, Canberra.
The precinct is located within Woden town centre, 8 kilometres south of Canberra’s CBD.
The three sites, totalling 14,996 square metres, are being marketed by CBRE’s Andrew Stewart and Mark Nicholls on behalf of Hindmarsh with the option to purchase individually or in one-line.
The first development site for sale totals 1,712 square metres and has a Medium Density Residential zoning.
The second and third sites are both located in Business zoning and are 6,063 square metres and 7,221 square metres respectively.
Stewart said the three development sites represented an investment opportunity considering the state government’s commitment to reviving Woden and preparing the town for anticipated population growth.
The expression of interest campaign closes Thursday April 20 at 4pm.
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Triple development offering in Woden, ACT

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Canberra has the highest number of fresh properties being listed compared with 12 months ago, according to CoreLogic’s latest report.
The property data firm says that Canberra’s number of new listing rose by 48.8 percent, to a total of 903.
However it only has an increase of 4.6 percent for the number of total listings compared with a year ago.
<a href="https://www.propertyobserver.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2012.39.34%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/13/Screen%20Shot%202017-03-13%20at%2012.39.34%20pm.jpg" alt="">
Hobart’s total listing declined 18.1 percent to a total of 1,868 despite an increase of 35.1 percent in the number of Hobart’s new listings.
However Melbourne has the highest increase of new properties in the last 12 months with a rise of 22.7 percent.
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Canberra fresh listings spike by 48 percent: CoreLogic

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There is a wide variety of property types available to first home buyers in the Canberra region,  according to HTW’s Month in Review: March 2017.  
The valuation firm says there are affordable detached housing options in the outer suburbs of Belconnen, Gungahlin and Tuggeranong while the outer areas of Gungahlin also provide newer detached housing options on mostly smaller blocks.
Affordable new unit options are available throughout the Canberra region a large supply of older units close to the city and in the suburbs that would be suitably priced for first home buyers, HTW says.
The firm points to the Land Development Agency, which allocates a number of new releases to be sold through the Land Rent Scheme, as an affordable housing option.
For people who meet the requirements, buyers only need to raise the capital for the building costs, the land is rented and there is an option to purchase the land in the future.
HTW says that the most recent land rent release was in the Gungahlin suburb of Taylor where there were 126 blocks available ranging in size from 250 to 587 square metres.
New developments in the Canberra region have a large number of one-bedroom units that are priced suitably for first home buyers, HTW says.
“Some developers are offering deals that require lower upfront costs to secure a dwelling,” the report says.
“This has made new units popular for first home buyers and has reduced demand for older existing units.”
However, the firm cautions first home buyers to beware the number of financial considerations to be aware of before committing to a purchase.
“Firstly, while interest rates are low at the moment, buyers should be aware that interest rates may increase which would increase their finance costs.
“Secondly, the additional costs to purchase a property, for example legal fees, stamp duty costs and mortgage application fees, are not included in the purchase price of the property.
“Thirdly, the additional running costs of owning a property also need to be considered.
“These include the maintenance costs of the building, property management fees if it is an investment property, government taxes and body corporate fees on units.
“Particularly with new units in the Canberra region, buyers need to be aware that Body Corporate Fees can increase significantly over time.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-act-gungahlin-124879186" target="_blank">2/14 Maria Smith Lane</a>, Gungahlin (above) has been listed for $510,000 plus.
Similarly a one bedroom unit at <a href="https://www.realestate.com.au/property-house-act-belconnen-120529281" target="_blank">11/57 Benjamin Way</a>, Belconnen (below) has been listed for over $300,000.
<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/2017/03/09/11_57%20Benjamin%20Way.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Belconnen and Gungahlin top first home buyer targets in Canberra: HTW

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Office vacancies in Canberra’s Parliamentary precinct have hit a 10-year low of 1.2 percent, owing to strong leasing activity over the past six months, according to real estate firm Colliers International.
The tightening of the A-grade office market contrasts with the slight drop in Canberra CBD vacancy, largely due to the withdrawal of a number of C and D-Grade buildings.
Michael Ceacis, director of Office Leasing at Colliers, said the uptake of A-Grade office space is due to tenants seeking quality office accommodation.
“Landlords are now offering reduced incentives. Early last year 25 percent incentives were being offered and now we are seeing 15 percent or lower. Face rents in Barton are increasing and A-Grade office space is being leased for more than $440 per square metre,” said Ceacis.
“We’re finding that tenants currently occupying C and D-Grade office space in the Parliamentary precinct are looking to stay within the area but in better quality accommodation. This year we’ve already spoken to a number of tenants with a total requirement of over 10,000sq m of office space in A-Grade buildings and there isn’t enough supply to meet this demand.” 
Tenants looking to upgrade are seeking office space with a minimum of 4.5-star NABERS Energy rating with good natural light, end-of-trip facilities, good car parking ratio and close to amenities. 
The office market is expected to tighten further with no new A-Grade stock planned in the short-term. 
According to the latest PCA data, there is 3,348 sqm of A-Grade office space available for lease in the Parliamentary precinct. 
Colliers says tenants’ flight to quality and the limited supply will lead to a further tightening of A-Grade stock, driving incentives down even further and an increase in rental rates. 
According to Colliers International research, there are only a handful of buildings that could potentially be repositioned to meet A-Grade standards in the area.
Landlords willing to spend the capital expenditure needed to upgrade their buildings are securing tenants. As an example, a refurbished office building at 44 Sydney Avenue, Barton is now fully occupied.
“In the past five years we’ve seen several key sites in Barton developed into residential and hotel accommodation, such as Little National Hotel and the Governor Place precinct,” Colliers executive Aaron Bruce said.
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Vacancy in Canberra’s Parliamentary precinct hits 10-year low: Colliers

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A further 157 former Mr Fluffy blocks in Canberra are to be sold via auction in March, adding to the 153 remediated blocks already been offered for sale.
The ACT government had in 2015 marked more than 1,000 Canberra homes contaminated by Mr Fluffy asbestos. The list included blocks where potentially hazardous loose-fill asbestos was installed as insulation by the Canberra-based Mr Fluffy company in the 1960s and 1970s.
The first blocks were released in April 2016, and as of February 3, 129 blocks out of the 153 had sold, according to a post in Domain.com.au. 
The 24 remaining blocks are available over the counter at the valuation price.
The blocks to be auctioned in March range from 562 sqm to 2,143 sqm and will be sold through partner agents <a href="https://www.realestate.com.au/agency/civium-property-group-ETPKYK" target="_blank">Civium Property Group</a> and <a href="https://www.independent.com.au" target="_blank">Independent Property Group</a>.
Auctions will take place every week throughout March. The first properties will be auctioned on Tuesday, March 7, when 27 Weston Creek blocks go under the hammer.
Civium Property Group chief executive Doug O’Mara was cited by Domain as saying that there was a high demand from families, downsizers and builders.
“The blocks are in Canberra’s established suburbs and there are some large parcels of land available,” O’Mara said. 
About 100 of these blocks are in Woden and Weston Creek, with the rest spread throughout the inner north, inner south and Belconnen.
Blue ribbon addresses in Griffith, Red Hill, Campbell and Reid are among the properties on offer.
At least 10 former Mr Fluffy blocks have sold for more than $1 million. Three of these were in Griffith and two were in Red Hill.
Large blocks in Campbell, Garran, Hawker and Hughes have also sold for more than $1 million.
Under the Mr Fluffy planning rules, blocks more than 700 sqm can be divided in two and used for two houses. A majority are more than 700 sqm.
Demolitions of the 1,022 houses across 56 Canberra suburbs have been identified as Mr Fluffy homes and demolitions will continue over the next few years.
The resale phase includes a first right of refusal process, which allows the owner to return and rebuild on their remediated block.
An ACT Asbestos Response Taskforce spokeswoman said the public sales would help minimise the overall cost of the scheme and the new homes would help reinvigorate communities.
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