<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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The first half of the 2016 calendar year in the Canberra residential property market has seen linear growth and a further shift in demand towards detached established dwellings, says the July residential market report from valuation firm Herron Todd White in its discussion on properties around or below $500,000.
While modern and centrally located unit stock is available in abundance in the sub-$500,000 bracket, numerous changes in lending criteria for investors, poor rental performance and product oversaturation in particular segments are the main drivers leading this shift. When coupled with less than desirable capital growth, the market has been responding accordingly. 
“The lazy half million can still achieve reasonably good value in both the north and south of Canberra,” says the report. 
Two suburbs which highlight this are Ngunnawal (Gungahlin region) and Wanniassa (Tuggeranong region). 
“$500,000 will secure a 1990s, four-bedroom, two-bathroom, two-garage home on a 600 square metre block in Ngunnawal and a similar home in Wanniassa albeit 18 years older and on a larger parcel of land.
“With the median house price in the ACT hovering around the $560,000 mark, the lazy half million doesn’t stretch as far as it used to when chasing solid capital growth. Gone are the days of being able to crack the inner south or even the Woden Valley region, both desired for solid capital performance.” 
This is evidenced by several recent sales of vacant land (remunerated loose fill asbestos blocks) for well over $500,000. 
With the aforementioned regions being prohibitively expensive, focus has transferred to the Weston region (specifically suburbs geographically close to Woden, Waramanga and Weston) with strong growth observed in the past 18 months. The market has realised this potential and sales of three-bedroom, one-bathroom ex-government stock has increased, with new owners electing to renovate and play the waiting game.
As an example, Property Observer found a three-bedroom house at <a href="https://www.realestate.com.au/property-townhouse-act-wanniassa-122450138" target="_blank">4/35 Lansell Circuit, Wanniassa, ACT 2903</a> which recently sold for $410,000.
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jonathanchancellor-7SQnKwU6yx

Canberra's north and south offer property value for $500,000: HTW

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<div class="reported-auctions">
<div class="num">The ACT has a clearance rate of 50 percent from 26 total scheduled auctions for the week ending July 3, according to realestate.com.au.</div>
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Realestate.com.au reported 2 properties sold prior to auction, 7 were passed in, 6 sold at auction and one was withdrawn.
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ACT's clearance rate at 50 percent: Realestate.com.au

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Real estate website onthehouse has compiled a list of Canberra's most affordable suburbs, with Hughes, Curtain and Downer making up the top three affordable suburbs.
The comparison table, below, features median values, capital growth and rental yield.
 
Suburb Postcode Dwelling Region Median Value Capital Growth Last 12 Months Rental Yield Median Rent
Hughes 2605 Units Metro $280,000 9.79% 5.74% $310
Curtin 2605 Units Metro $292,000 -2.98% 5.49% $305
Downer 2602 Units Metro $302,500 4.91% 5.52% $320
Lyons 2606 Units Metro $303,500 4.13% 5.48% $320
Crace 2911 Units Metro $320,500 5.12% 5.72% $350
Fisher 2611 Units Metro $337,500 -3.18% 5.02% $325
Theodore 2905 Units Metro $339,500 -4.28% 5.49% $355
Macgregor 2615 Units Metro $340,500 -1.06% 5.57% $365
Franklin 2913 Units Metro $344,000 2.51% 5.49% $360
Ngunnawal 2913 Units Metro $344,000 -2.28% 5.44% $360
Holt 2615 Units Metro $347,500 4.87% 5.50% $365
Gordon 2906 Units Metro $349,000 -3.93% 5.34% $355
Phillip 2606 Units Metro $350,000 -0.54% 5.35% $360
Palmerston 2913 Units Metro $352,000 -2.64% 5.46% $370
Melba 2615 Units Metro $354,500 -1.40% 5.82% $395
Calwell 2905 Units Metro $357,000 -2.48% 5.41% $370
Isabella Plains 2905 Units Metro $362,000 -3.75% 5.28% $365
Kambah 2902 Units Metro $362,000 -0.11% 5.25% $365
Belconnen 2617 Units Metro $362,500 0.61% 5.26% $365
Watson 2602 Units Metro $369,000 1.95% 5.28% $375
Casey 2913 Units Metro $371,500 4.50% 5.47% $390
Harrison 2914 Units Metro $371,500 0.77% 5.12% $365
Conder 2906 Units Metro $373,000 -0.28% 5.22% $375
Wanniassa 2903 Units Metro $373,500 1.67% 4.98% $355
Page 2614 Units Metro $385,000 1.73% 5.14% $380
Macquarie 2614 Units Metro $386,500 1.64% 5.10% $380
Hackett 2602 Units Metro $388,000 4.42% 4.81% $355  
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jchancellor-FAypfDUnLy

Canberra's most affordable suburbs: Onthehouse

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Belconnen’s Wayfarer development is 90 percent sold, with a mix of one, two and three-bedroom apartments still available.
One-bedroom units range from $332,900 to $418,900, two-bedroom are priced from $452,400 to $622,400 and three-bedrooms are priced from $503,900 to $701,400.
Completion is expected before the end of the year on the 27-storey building.
<img src="/images/2016/06/16/Screen%20Shot%202016-06-16%20at%2011.52.57%20AM.png" alt="">
The Wayfarer apartment kitchens were designed by renowned chef Tetsuya Wakuda who was engaged by Geocon managing director Nick Georgalis.
The complex was designed by Cox Architecture, with the top two levels of the 88-metre tall building including an infinity pool.
<img src="/images/2016/06/16/Screen%20Shot%202016-06-16%20at%2011.53.13%20AM.png" alt="">
Level 25 will feature a sky lounge entertaining area with 360-degree views across Canberra.
For more information, <a href="https://geocon.com.au/project/wayfarer-apartments/" target="_blank">click here</a>.
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Belconnen's Wayfarer is 90 percent sold with Tetsua designed kitchens

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Casino Canberra’s $14 million makeover is complete and the gaming floor is open to public, with construction company Hindmarsh finishing the project on time. 
The refurbishment of around 1,500 square metres included a new high rollers’ lounge and is expected to provide a new lease of life for the casino owned by Hong Kong-based Aquis Entertainment.  
Hindmarsh’s contract was valued at nearly $6 million.
The company’s ACT manager-construction David Colbertaldo said it worked with local suppliers on the project.
Hindmarsh says it has delivered more than 4,000 residential units and undertaken construction work, including commercial, hotel, health and education projects, worth $3.5 billion. 
 
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Casino Canberra’s makeover complete

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Heritage properties around Canberra and Queanbeyan, typically Federation and the Californian bungalow, can range between $600,000 to just under $1 million given location according to analyst firm Herron Todd White.
In their latest heritage property report, HTW note Canberra and Queanbeyan have several heritage sites in local suburbs Ainslie, Griffith, Reid, Campbell and Kingston and in the Queanbeyan Town Centre.
"Heritage properties in Queanbeyan can range from $600,000 to $900,000. In Canberra’s inner north, examples include Ainslie at $700,000 plus and Reid at $900,000 plus and inner south, Kingston at $950,000 plus (if in a good location)," it said.
"What makes these dwellings desirable is that they are centrally located and in desirable locations and neighbourhoods (usually close to the city). Renovations of good quality on these heritage dwellings are proving to be quite valuable and naturally command strong prices as they have a unique aspect and a unique building construction (simply, everything old is new again).
"As always, heritage sites have particular restrictions on what owners looking to renovate can do to the property and will most likely experience higher construction costs to achieve renovations that reflect a mixture of the dwelling’s period character and the inclusions of modern features. Over-capitalisation is not much of an issue for these dwellings as the locations of the heritage areas usually already command strong price points."
According to HTW, heritage properties are typically a bit more difficult to value than your stock standard dwellings due to the unique nature of the property, restrictions on potential improvements and the general lack of heritage dwelling sales and advised potential investors historical data for these unique sales and knowledge of the locale are important when finding values. 
 
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mick.cee-iDmgDDAmu8

Strong prices in Canberra's old made new heritage market

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Canberra was at the bottom of the market position in April, but in the latest Herron Todd White's property clock for units -- a simple broad brush means of indicating where property prices are in May 2016 - the capital city was back to a market in decline.
<a href="/images/2016/05/13/Screen%20Shot%202016-05-16%20at%208.12.37%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/13/Screen%20Shot%202016-05-16%20at%208.12.37%20AM.png" alt="">
 
Meanwhile, NSW's Coffs Harbour was the only one to drop out from the peak of market position in April. Melbourne, Dubbo, Horsham and Newcastle are still rooted there in May.
Other notable changes included Queensland's Toowoomba improving from approaching the bottom of market cycle in April to a starting to decline position.
The maximum number of cities/towns in the May property clock for units, numbering 16, were again at the start of recovery cycle, much like April's property clock, which had 17. Only Tamworth had dropped out from the list and made its way into the rising market cycle. 
May's property clock also deals with heritage properties. 
Property Observer had covered Canberra's fringe property market from HTW's April property clock, mentioning it has undergone much development within the past 24 months. The once greenfield sites on the fringes of the city are now being developed into well planned and flourishing suburbs providing opportunity for owner-occupiers, investors and government housing alike.
<a href="/images/2016/05/18/Screen%20Shot%202016-05-19%20at%2010.35.53%20AM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2016/05/18/Screen%20Shot%202016-05-19%20at%2010.35.53%20AM.png" alt="" width="765" height="592">
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Canberra springs back from bottom of market for units: HTW property clock

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GUEST OBSERVER
The front-page headlines generated this week by Prime Minister Malcolm Turnbull’s promise to link Australia’s major eastern cities by fast rail may be seen by many voters as yet another major infrastructure pledge made hurriedly in the run-up to a federal election that is likely to evaporate just as quickly afterwards.
Fast intercity rail certainly has form when it comes to being put on the table only to be whipped away again. Linking Australia’s two biggest cities by rail would be in the same nation-building category as the Snowy Mountains Scheme, yet we have been talking about it for decades without actually doing it.
How different might things be now if Australia had built the Very Fast Train (VFT), first proposed in 1984 by the then CSIRO chairman, Paul Wild. The plan (on which I worked) attracted the support of leading companies of the day, including BHP and Elders IXL, but was bogged down in taxation issues and eventually scrapped in 1991.
If it had gone ahead, we would have had an infrastructure capable of shaping the new century for Australia’s densely populated east coast, instead of still waiting for it today.
<h2>The route</h2>
The first choice was a coastal route running from Melbourne through the Latrobe Valley (and what a boost that would have been to a region that even then was struggling with its over-reliance on brown coal), the Gippsland lakes (with a branch line to the mountain resorts), the southern New South Wales coastal towns and into Sydney via Wollongong (a rust-belt city at that time that would also have benefited from this investment).
This was later replaced by an inland route identified by the CSIRO and the VFT consortium, after a series of localised environmental protests. Canberra became one of the designated stations on the inland route and the rest is history – there has never been a return to the original route, despite the fact that more than 90 percent of Australians live near the coast.
<h4><a href="/images/2016/04/19/image-20160413-18122-w2r2vx.png" target="_blank">Click to enlarge</a></h4>
<img src="/images/2016/04/19/image-20160413-18122-w2r2vx.png" alt="">
<h4>
Fast rail route proposed in 1987, after being diverted inland via Canberra. <a class="source" href="https://www.repositoryofideas.com/resources/VFT-route-map-from-June-1987-pre-feasibility-report.pdf" target="_blank">VFT consortium</a>, Author provided
</h4>
<h2>The funding</h2>
Perhaps unsurprisingly, finance was the original project’s downfall. It became a private-sector joint venture in 1987 but collapsed in 1991 when the federal government decided against easing the tax burden on the project’s initial major outlays in return for higher tax overall.
Australian governments have struggled ever since to find ways for public-private partnerships to fund big projects. Until now, perhaps.
This time around, Turnbull has touted the prospect of “value capture”: the financial benefit that the private sector could gain from the boost to urban development around stations – as seen, for example, near Japan’s Shinkansen (bullet train) stations.
In tax increment financing (TIF) schemes, which are more common in the United States for financing infrastructure projects, value capture by governments via increased property rates and taxes has provided a basis for public sector funding. But this has not proved popular in Australia.
<h2>The challenge</h2>
We have even more urban and regional challenges than we did three decades ago. Sydney and Melbourne are each facing rapid population growth and will need to avoid the damaging consequences of urban sprawl and car dependence. Both cities will need to redirect growth inwards, to brownfield and greyfield sites.
Another consideration is how to disperse the population into regional cities, so these areas can also benefit from improved economic activity. Fast rail can potentially help regional cities become part of a “mega-metropolitan” economic region.
For example, a 350 km per hour service connecting Melbourne with Geelong, Ballarat, Bendigo and Warragul would transform these provincial centres into the equivalent of Melbourne’s middle-ring suburbs, where 30-minute commutes are the norm.
<h4><a href="/images/2016/04/19/image-20160413-15868-hprsf4.png" target="_blank">Click to enlarge</a></h4>
<img src="/images/2016/04/19/image-20160413-15868-hprsf4.png" alt="">
<h4>
Travel times in minutes from Melbourne. CSIRO/Australia State of the Environment Report, 1997, Author provided
</h4>
This route would also be the beginning of an inter-capital fast rail route, from Melbourne to Canberra (possibly via Shepparton), and then running through various population centres, via Badgery’s Creek (Sydney’s proposed second international airport) to the Sydney CBD.
<h2>The carbon case… and a bump in the track</h2>
Almost 8 million passengers flew between Melbourne and Sydney in 2015, making this route the world’s fourth busiest (ahead of Beijing-Shanghai). The carbon savings from a Melbourne-Sydney fast rail link therefore represent a major potential reduction in greenhouse emissions, especially if it is powered significantly by renewable energy.
This obviously wasn’t part of the business case back in the 1980s. But in 2016 it is surely a candidate for the federal government’s Emissions Reduction Fund.
The government’s proposed value capture funding model has a sting in the tail. Privately held land near the rail link and its stations will need to be rezoned and handed to private firms to build facilities (and surrounding developments) that they would then own and operate.
Land acquisition, even with compensation at market value, is generally not welcome in Australian cities. This is just one example of what makes transformational urban change so hard. But this kind of transformation will be critical to the creation of 21st-century cities that are productive, competitive, sustainable and liveable.
 
Peter Newton is research professor in Sustainable Urbanism, Swinburne University of Technology and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/peter-newton-2278" target="_blank">here</a>.
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Why Australia should have built fast rail decades ago

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The first five Mr Fluffy blocks in Canberra have been put to auction.
Around 30 interested parties registered to bid for the remediated blocks. The majority came from residents within their neighbourhood.
The blocks, which range from 694 to 1059 square metres, sold for between $476,000 and $610,000 through Ray White Phillip.
A 1459 square metre block in Chapman was passed in at $660,000.
Th ACT minister for planning and land management Mick Gentleman said the sales were a “significant milestone."
Mr Gentleman said the government had committed more than $740 million to the Mr Fluffy asbestos issue.
Even after the resales, the cost to the Canberra community would still be $400 million.
Some 1022 homes across 56 Canberra suburbs have been identified as Mr Fluffy homes.
The demolitions will take place over the next few years.
The resale phase includes a first right of refusal which allows the owner to return and rebuild on their remediated block.
Owners of around 690 houses are seeking to return to their blocks. 
Fairfax Media reported under the Mr Fluffy planning rules, blocks over 700 square metres can be divided in two and used for two houses.
52 Collings Street Pearce (729 sqm) – $605,000
40 Serpentine Street Duffy (694 sqm) – $480,000
14 Nangor Street Waramanga (694 sqm) – $476,000
83 Doyle Terrace Chapman (1459 sqm) – passed in
74 Darwinia Terrace Chapman (1059 sqm) – $610,000
 
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Remediated Mr Fluffy, ACT blocks sell at auction

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Over the three months to December 2015, 7.6 percent of Canberra homes re-sold at a loss compared to 11.2 percent over the previous quarter and 10.9 percent a year earlier, according to the latest Pain &amp; Gain report from Core Logic RP Data.
It was Canberra's lowest proportion of loss-making resales since February 2014.
<a href="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%203.38.54%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%203.38.54%20PM.png" alt="" width="813" height="236">
Across Canberra 69 auctions were held this week with a 64 percent sales success including the $1,515,000 sale of the former bolthole of the former Federal Treasurer Joe Hockey.
The fringe property market of Canberra has undergone significant development within the past 24 months, say valuation firm Herron Todd White in their April 2016 property clock.
The median price for a house in Forrest is $2,150,000, according to CoreLogic RP Data.
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