<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

<html><body>
EG, the real estate fund manager, has settled on another Canberra asset for their High Income Sustainable Office Trust (HISOT).
It cost $15.6 million for the property set a kilometre from Parliament House, on a prominent corner site in Barton, ACT. 
The 4,054 square metre building has a current NABERS rating of 3.0 with a vacancy rate of 38%. 
The Australian Medical Association will be remaining on site as the primary tenant.  
“EG will deliver a repositioned, sustainable building in the heart of Canberra’s most attractive office markets,” said Michael Noblet Associate Director, Capital Transactions.
“We are targeting to improve the NABERS rating to 4.5 stars or higher through operational improvements and an active capital works program.” 
EG has already planned to align themselves with technology partners to improve energy efficiencies in the building, in line with the HISOT mandate. 
Key investors in the fund include Uniting Financial Services and the Clean Energy Finance Corporation.  
CEFC Investment Funds Lead Rory Lonergan said through upgrading the 30-year-old building, EG will demonstrate how underperformers can be reinvigorated to provide dynamic workspaces that are valued by tenants because they are equipped to handle the demands of a clean energy economy.
The vendor was the Australian Medical Association and the sale was brokered by Tim Mutton of Colliers International.  
Earlier this year, EG settled on the $15.4 million East Block asset in Canberra’s Parliamentary Triangle, which was the first asset in the HISOT fund. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

EG settles on $15.6 million Canberra property

<html><body>
A buoyant Canberra housing market is leading to healthy long-term investment options for savvy home buyers, according to RiskWise Property Research.
While the Sydney market goes flat, many Sydney-based investors and buyers’ agents are looking to Canberra as a solid long-term property market that delivers both capital growth and solid rental return.
Less than 300 kilometres south-west of Sydney, Canberra has enjoyed solid capital growth of 23% over the past five years and 10% in the past 12 months.
<a id="LPlnk756628" href="http://www.riskwiseproperty.com.au/" target="_blank">RiskWise Property Research</a> CEO Doron Peleg believes it is a trend which is set to continue, particularly for houses.
"This will be driven by ongoing population growth due to the strength of the local labour market and its growing status as a city of choice for a growing number of Australians,” Peleg said.
"Canberra is a rapidly expanding city with a stable property market that offers relatively affordable housing (in house-to-income terms). In addition, ongoing infrastructure projects, such as the Canberra Light Rail Network, will bring significant benefits to the area.”
RiskWise assessed the risks and opportunities in the ACT property market to help investors and professionals better understand it.
Peleg said while housing in the ACT was enjoying healthy capital growth, the same could not be said for off-the-plan units which carried a higher degree of risk in the short-term.
However, he said, the impact of the additional supply was likely to be reduced in the medium and long-term which showed capital growth of 4% in the past five years and 5% in the past 12 months.
Detailed report on the property market for both houses and units:
Canberra Property Market Under the Microscope - Strong labour market and population growth the major growth drivers
<ul>
<li>Employment</li>
</ul>
The ACT has a strong labour market. The unemployment rate of 3.9% is low - even below the NSW average. This is unsurprising given the strength of its labour market and that the Federal Government is a major direct and indirect employer. This is also supported by the relatively low underemployment and the low effective unemployment rate across the ACT.
<ul>
<li>Population growth</li>
</ul>
The ACT enjoys consistently strong population growth, particularly over the past six years. It also recorded a population growth rate of 1.7%, the second highest rate growth across the country according the latest ABS data. The attractiveness of the local labour market has been a key driver force behind this population increase and this growth trajectory is likely to continue.
<ul>
<li>Capital growth – houses v units</li>
</ul>
While both houses and units enjoy good demand, the demand for houses is very strong and houses enjoy, consistently solid capital growth of 23% in the past 5 years and 10% in the past 12 months. That has significantly exceeded the capital growth of units that delivered 4% in the past 5 years and 5% in the past 12 months.
<ul>
<li>Median rental return</li>
</ul>
The rental return for houses and units are 4.2% and 5.1%, respectively - these rates of returns are significantly higher than the rental return in Sydney.
<ul>
<li>Units in the pipeline – short term risk</li>
</ul>
The number of units in the pipeline for the next 24 months is 5290, being an addition of 8.1% to the current stock.
Investors who purchase off-the-plan properties are exposed to risk of poor capital growth and lower rental returns than expected in the short to medium-term as the area adjusts to the additional supply level. However, general high demand for units across the area is likely to reduce the impact of the supply increase in the medium and long-term. This is primarily driven by the strong labour market and population growth in the ACT.
In conclusion, the ACT delivered strong property price growth over the past few years and is likely to deliver strong growth, particularly for houses.
This will be driven by ongoing population growth due to the strength of the local labour market and its growing status as a city of choice for a growing number of Australians. While off-the-plan units carry a higher degree of risk in the short term, the impact of the additional supply is likely to be reduced in the medium and long term.
</body></html>

jonathanchancellor-7SQnKwU6yx

Sydney's flattening pushes investors to Canberra: RiskWise

<html><body>
Is there a case for revisiting the idea of new cities for Australia in the light of recent population projections and resurgent debate about the implications of a big Australia?
By big we’re talking in the order of <a href="http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3222.0Main%20Features62012%20(base)%20to%202101?opendocument&amp;tabname=Summary&amp;prodno=3222.0&amp;issue=2012%20(base)%20to%202101&amp;num=&amp;view" target="_blank">another 12 million people by mid-century</a>. That’s said to be <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2018-03-12/australia-is-struggling-to-handle-its-swelling-population/9535116" target="_blank">equivalent to adding a Canberra every year</a> for the next 30 years. But, on business-as-usual projections, three-quarters of that growth will be accommodated in our four biggest cities: Sydney, Melbourne, Brisbane and Perth. <a href="http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/3222.0main+features72012%20(base)%20to%202101" target="_blank">According to the Australian Bureau of Statistics</a>, this could mean a Sydney of almost 9 million people and Melbourne of almost 10 million by just after 2050.
The last time the nation seriously confronted the reality of sustained and accelerated population growth was in the early 1970s. And there was a mood to do something decisive. In 1972 an Australian Institute of Urban Studies task force emphatically <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/work/9420956?selectedversion=NBD1633419" target="_blank">recommended</a>:
efficient and humane alternatives to overconcentrated growth … A massive new-cities program needs to be started NOW.
Benjamen Gussen’s proposal for a ‘charter city’ in the Pilbara stimulated this imaginary depiction (above). Justin Bolleter.
The Whitlam government obliged with a <a href="http://www.johncainfoundation.com.au/wp-content/uploads/2015/11/lyndsay-neilson-presentation.pdf" target="_blank">national growth centre program</a>. Undertaken jointly with the states, this produced some positive outcomes. These included an expanded Albury-Wodonga and systematic longer-term planning for Campbelltown in southwest Sydney and eventually Joondalup in northwest Perth. Admittedly there were some duds, such as the tri-city <a href="https://www.propertyobserver.com.au/https://www.smh.com.au/articles/2002/11/29/1038386312281" target="_blank">Bathurst-Vittoria-Orange</a> and Monarto outside Adelaide, now a free-range zoo.
Funding and enthusiasm trailed off. This more or less reflected trends globally, certainly in the UK, <a href="https://www.theguardian.com/society/2002/may/15/communities.guardiansocietysupplement" target="_blank">heartland of new town thinking</a>, where the Commission for New Towns was abolished by 1998.
But <a href="http://www.newtowninstitute.org/spip.php?article420">Paris carried on</a> and even the private sector in the US developed new communities, <a href="http://www.baltimoresun.com/news/maryland/howard/howard-magazine/ph-mg-ho-columbia-planned-cities-20170606-story" target="_blank">bringing innovation to the design process</a>. Other nations with high population growth, such as <a href="https://www.forbes.com/sites/wadeshepard/2017/12/12/why-hundreds-of-completely-new-cities-are-being-built-around-the-world/#4ad64fc514bf" target="_blank">China, maintained engagement</a>. Now even <a href="https://www.nic.org.uk/news/adonis-new-infrastructure-can-bring-first-new-towns-half-century-billions-national-economy/" target="_blank">Britain is returning</a> to <a href="http://researchbriefings.files.parliament.uk/documents/SN06867/SN06867.pdf" target="_blank">new-look garden cities as models of sustainable growth</a>.
<h2>So what’s going on in Australia?</h2>
If Australia had a fair dinkum national urban and population policy, then future patterns of national settlement would be firmly in its sights. But we don’t, and those <a href="https://theconversation.com/hopes-of-a-new-urban-age-survive-ministers-fall-52975" target="_blank">hopes of a new era</a> under Prime Minister Malcolm Turnbull just haven’t ignited. Instead, we mostly have a scattershot of initiatives, incentives and deals on offer within an overall economistic rhetoric of smartness and value capture.
Infrastructure Australia’s recent report, <a href="http://infrastructureaustralia.gov.au/policy-publications/publications/files/future-cities/Future-Cities-Summary-Report-2018.pdf" target="_blank">Future Cities: Planning for our growing population</a>, is not much help. It concentrates on the largest cities only, and reiterates the conventional wisdom of their evolution towards higher-quality, higher-density cities.
It is worth asking why existing – and presumed inevitable – patterns of growth are the equivalent of a new city, but new urban places are not tabled as viable options.
<a href="https://images.theconversation.com/files/210047/original/file-20180313-30983-q1df03.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/210047/original/file-20180313-30983-q1df03.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Australia created a new city for its capital and annual population growth is now being equated to ‘new Canberras’, so why not consider more new cities? <a class="source" href="https://www.shutterstock.com/image-photo/aerial-view-canberra-city-center-1040423728?src=iwImnPPAC2OgKnPtvdHwYg-1-18" target="_blank">Yicai/Shutterstock</a>
There is nothing approaching a coherent vision of national urban system planning. This scale of thinking has largely dropped out of the policy realm. The rise of design-driven planning has brought many benefits in balancing public and private interest, but these are usually played out at the local scale.
Metropolitan planning strategies display more comprehensive thinking but are jurisdictionally constrained. They also inevitably converge on the same suite of aspirations – growth management, housing supply and affordability, employment, density, mixed-use activity centres and transit-oriented development. And, as we see in Melbourne, the progressive liberalisation of urban growth boundaries to allow greater expansion <a href="https://theconversation.com/australian-cities-and-their-metropolitan-plans-still-seem-to-be-parallel-universes-87603" target="_blank">misses opportunities for more radical rethinks</a>.
<a href="https://theconversation.com/all-the-signs-point-to-our-big-cities-need-for-democratic-metro-scale-governance-92417" target="_blank">Metropolitan governance is the order of the day</a>, without doubt, but what spatial framework does that sit in? The <a href="https://www.greater.sydney/" target="_blank">Greater Sydney Commission</a> is proving its worth in this direction and organising local authorities into a co-ordinated assemblage. But its strategy has almost nothing to say about the rest of the state.
There is no spatial state plan. Wollongong, Newcastle, the Central Coast (contributing over 200,000 daily return commuter trips into Sydney) and regional areas lie out of view.
Where state planning strategies do exist (such as Western Australia) these tend to be toothless and lacking in vision.
Since mid-2017 some bigger-picture thinking has surfaced in submissions and presentations to the House Standing Committee on Infrastructure, Transport and Cities, which is conducting a timely <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House/ITC/DevelopmentofCities" target="_blank">inquiry into the Australian government’s role in city development</a>. The message is that there are no quick fixes, single solutions or optimum city sizes. There is also an awareness that the path dependency of growth in metropolitan areas will ensure their continuing primacy.
The <a href="https://www.economicshelp.org/blog/glossary/agglomeration-economies/" target="_blank">agglomeration economies</a> favouring non-metropolitan locations are admitedly weaker but a strengthening narrative relates to the links between 21st-century transportation and settlement. <a href="https://theconversation.com/high-speed-rail-at-200-billion-wed-better-get-it-right-62541" target="_blank">High-speed rail</a> is not just an inter-city technological marvel but – done well to an integrated spatial plan – becomes a nation-building instrument for expanding key regional centres.
Think longer term, think big
Long-term thinking compels bigger vision. The 2013 book <a href="http://www.publish.csiro.au/book/7215/" target="_blank">Made in Australia</a> by Richard Weller and Julian Bolleter attempts this, by daring to imagine a future beyond the conventional wisdom of low-density spread and urban consolidation. Guided by ABS national population projections – <a href="http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3222.0Main%20Features52012%20(base)%20to%202101?opendocument&amp;tabname=Summary&amp;prodno=3222.0&amp;issue=2012%20(base)%20to%202101&amp;num=&amp;view" target="_blank">70 million by 2101</a> – its sights are firmly <a href="https://www.propertyobserver.com.au/https://www.parksleisure.com.au/documents/item/2693" target="_blank">set on a whole new conception of megaregions and new cities</a>. Northern Australia, in particular, comes into view as a new urban frontier.
There are various scenarios to explore within a new city paradigm:
<ul>
<li>the polycentric city (think: Hunter to the Illawarra in NSW)</li>
<li>integrated planning for regional centres and expanded towns (a more targeted <a href="http://regional.gov.au/regional/programs/regional-growth-fund.aspx" target="_blank">Regional Growth Fund</a>)</li>
<li>regional satellites (network city regions focused on metropolitan cores)</li>
<li>upscaled master plan communities set within a regional vision (<a href="https://www.greaterspringfield.com.au/" target="_blank">Springfield</a>)</li>
<li>“new cities in cities” (<a href="https://theconversation.com/flying-into-uncertainty-western-sydneys-aerotropolis-poses-more-questions-than-answers-73682" target="_blank">Western Sydney aerotropolis</a>).</li>
</ul>
The contemporary new city idea cannot be a tired rerun of town and country planning policies from the past. These elevated post-war welfare-state British new towns as the benchmark and ignored their many shortcomings as urban environments.
The population tap is unlikely to be turned off even if politically leveraged downward. Humanitarian migration is also likely to grow. This means we need to have a debate that is not just about population size but also about its distribution.
<img src="https://counter.theconversation.com/content/92990/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Australia is a post-colonial country built largely through relatively new, planned cities. We have a capital city famously built from scratch. Australians should be able to engage with a more nuanced evaluation of the role of new cities in delivering the desired triple bottom line of urban productivity, liveability and sustainability.
<a href="https://theconversation.com/profiles/robert-freestone-168551" target="_blank">Robert Freestone</a>, Professor of Planning, Faculty of Built Environment, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>; <a href="https://theconversation.com/profiles/elizabeth-taylor-97922" target="_blank">Elizabeth Taylor</a>, Vice Chancellor's Post-Doctoral Research Fellow, <a href="http://theconversation.com/institutions/rmit-university-1063" target="_blank">RMIT University</a>, and <a href="https://theconversation.com/profiles/julian-bolleter-292111" target="_blank">Julian Bolleter</a>, Research Fellow, Australian Urban Design Research Centre, <a href="http://theconversation.com/institutions/university-of-western-australia-1067" target="_blank">University of Western Australia</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/new-cities-its-an-idea-worth-thinking-about-for-australia-92990" target="_blank">original article</a>.
</body></html>

Should Australia be thinking about a new city?

<html><body>
The Canberra office market has been historically characterised as having one of the strongest supply pipelines nationally.
Over the past few years it has delivered high levels of stock, against a background of strong net absorption.
In the 12 months to December 2017, Savills Research identified approximately $571.7 million worth of office transactions (greater than $5 million) in the Canberra office market.
However, as a result of falling leasing demand from the Commonwealth leading up to, and following from, the election of the Coalition to Government in 2013, the speculative development phase that had been experienced in Canberra ended in 2015-2016, Savills said.
Over 2015/2016, developers were largely reluctant to build speculatively, following weaker economic conditions and moderating leasing demand driven by cost cutting measures initiated by Commonwealth tenants.
But following two years of negative net supply, 2017 saw new additions amounting to 51,364 square metres. Improving market conditions and a strengthening economy are providing the impetus for an increase in developments.
According to the latest research report from Savills Australia, the commencement of two new speculative developments in the CBD will add approximately 35,000 square metres of new accommodation in the 2019/20 period.
A further 20,000 square metres of space in the CBD and 15,000 square metres in Dickson have been pre-committed by the ACT Government and are due to be completed over the same period.
Anecdotal evidence from current leasing campaigns on these developments suggest a significant upward revision of rents.
Andrew Stewart, managing director of Savills ACT said this level of activity is well beyond the 10 year average of $416 million and can be traced to a single transaction; the sale of 50 Marcus Clarke Street, City. 
“The asset was sold for $321 million to South Korean asset management firm, Mirae Asset Global Investments at an equated yield of 5.75% by Malaysian vendor CIMB Trust &amp; Malaysian Employees Provident Fund. It is important to note that traditionally, these larger assets are tightly held with only four trading in the past five years," said Stewart.
“Demand for Canberra assets are being driven by domestic and foreign investors focused on secure income streams and long Weighted Average Lease Expiry’s (WALEs) owing to the majority of office space being leased by Government tenants.” 
Stewart said that large funds and trusts that rely on both income growth as well as capital growth are certainly attracted to the Canberra market. 
“We are also seeing a trend towards more privatisation which has led to a greater diversity in tenant base as more consulting firms relocate to Canberra for jobs that are being outsourced by the Federal government off the back of cost cutting measures implemented by the Liberal government.”
There was a notable increase in local institutional funds and private investors purchasing office assets in Canberra.
One noteworthy transaction was the sale of 44 Sydney, Forrest in November 2017 for $64.70 million on an equivalent yield of 6.24%, purchased by Australian based fund manager Charter Hall.
Anecdotal evidence is suggestive of increasing demand for new or new-near buildings with long-WALE’s, with current owners of such properties reluctant to divest themselves of their properties.
According to Shrabastee Mallik, Senior Analyst - Capital Strategy at Savills Australia, market yields in Canberra Civic, as at December 2017, are estimated to range between 5.50% and 7.25% for A grade, and between 7.50% and 10.50% for B grade buildings.
“The average yield for A grade office buildings in the quarter to December 2017 is 6.40%, representing a 35 basis point firming over the year.
“Capital values in the Civic precinct in Canberra, as at December 2017, are estimated to range from $5,265 per square metre to $8,350 per square metre for A grade buildings, and between $3,500 per square metre and $5,400 per square metre for B grade buildings” she said.
Ms Mallik believes that fewer projected public service job cuts and a more relaxed budget looks likely to lead to a resurgence in office leasing demand and an increase in developments.
“Rents for new and near-new ‘A’ Grade stock have been maintained at a stable level, with a small level of face rent growth at the top end of the market” she said. 
Pip Doogan, Director of Office Leasing at Savills ACT said the level of incentives on offer for this class of property have stabilised, and are trending down gradually in those areas with low vacancy rates, which should result in a rise in effective gross rents in this market sector.  
“Net face rents in the Canberra Civic precinct range from $340 to $400 per square metre per annum for A Grade and from $290 to $325 per square metre per annum for B Grade, as of Dec 2017”.
 
 <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/2018/3/14/canberra%202.jpg" alt="">
 
 
 
</body></html>

Investors looking to Canberra office market for long-WALE's: Savills

<html><body>
Many homes nowadays have a cinema room, but fresh on the market is an award-winning Canberra home complete with a fully fledged theatre.
It has been the passion of Steven Gerakedis.
The <a href="https://www.realestate.com.au/property-house-act-reid-127739702" target="_blank">art deco Reid home </a> with classic cottage facade reflects 1920s heritage, all the way down to the sub-ground cinema. 
Bring the popcorn! The theatre has tiered leather recliner seating, a curved wide screen projector, dedicated projector room and a separate lounge area for pre and post-movie socializing.
The walls are filled with classic movie posters.
The home set in Dirrawan Gardens on 1,300 square metres was awarded the Master Builders Association House of the Year.
"You have to see it to believe it," the judges noted.
It has three bedrooms, three bathrooms, a glass reception gallery and a climate-controlled cellar.
Peter Blackshaw Manuka agents Alec Brown and Andrew Chamberlain are marketing the home until March 28.
This article first appeared in The Weekend Australian. 
</body></html>

jchancellor-FAypfDUnLy

The award goes to... Canberra trophy home with full theatre listed

<html><body>
The former Mr Fluffy, ACT asbestos land blocks that went under the hammer last Thursday in the first mass auction of the year, mostly failed to sell.
Allhomes reported at least 100 people attended the auction of the blocks remediated by the ACT government.
The auction came two days after a Canberra family revealed they'd uncovered bricks that tested positive for loose-fill asbestos on a $1.6 million block they'd bought at auction last year which has since had delayed work costs.
The first 21 blocks auctioned off saw more than 80% passed in, The Canberra Times reported.
Properties included a 2099 square metre block in Arthur Circle, Forrest which was passed in at $2.2 million.
Colliers International auctioneer Dan McAlpine read disclaimers that preceded the auction including a clause that stated: "By participating in the auction, registrants warrant that they have made their own inquiries regarding the land, its value and its suitability for development and have not bid on reliance on the material included in the auction documentation."
But there was no mention of the risk of residual contamination.
Suburban Land ACT auctions hosted by Colliers International are scheduled for March, April and May, which will see about 200 parcels of land offered.
</body></html>

Canberra auction clearance rate down as Mr Fluffy blocks still possibly contaminated 

<html><body>
The National Capital Authority is seeking expressions of interest for the sale of The Lobby restaurant.
The Canberra landmark has been closed for more than a year.
The authority said it would ensure that its heritage values are protected after the sale, NCA chief planner Andrew Smith said.
"Once sold, the NCA and the Commonwealth will remain committed to protecting and preserving the heritage values of The Lobby as well as the Commonwealth Heritage listed landscape which it forms part of," the authority's chief planner, Andrew Smith, said in a statement.
<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/2018/2/21/lobby2.jpg" alt="">
Development of The Lobby would need parliamentary approval.
Smith expects that The Lobby be a hospitality venue, remaining as a restaurant or possibly becoming a bar or cafe.
The restaurant opened in 1968, mostly for politicians who wanted somewhere to dine near Old Parliament House.
The tender process is through Civium Property Group until March 15.
</body></html>

The Lobby, Canberra for sale

<html><body>
EG, one of Australia’s leading real estate fund managers, has acquired the first asset for the High Income Sustainable Office Trust (HISOT). 
The East Block asset is a strategically located heritage asset in the Parliamentary Triangle, Canberra. 
EG will improve the energy efficiency of the building by leveraging technological advances and active asset management under the HISOT mandate. It will form a key part of the future revitalisation of the Canberra precinct.
“EG are pleased to see the compelling sustainable investment fund launch with a strongly placed asset that will benefit from the uplift in energy savings and active asset management strategy,” say EG's Aurelio di Napoli.
The property has a net lettable area of approximately 4,958 sqm and has an eight year WALE following the completion of Lessor works. The current tenant is the National Archives of Australia.
EG’s HISOT fund had its first close in 2016. The fund mandate is to target assets that will benefit from raising the NABERS rating. It is underpinned by a strong ethical and environmental commitment by the unit holders that will reduce the overall impact of a building while driving a significant increase in the asset value.
The Clean Energy Finance Corporation was a cornerstone equity investor in HISOT.
 CEFC Investment Funds Lead Rory Lonergan said the CEFC is delighted to see their investment in HISOT contributing to energy efficiency improvements in this iconic precinct.
"This is another demonstration of the flexibility and suitability of clean energy across our built environment.
"It’s absolutely vital that new buildings are built to the highest energy standards as we move to zero carbon emissions.
"It’s equally important that we make these improvements to existing buildings, extending their life as well as ensuring they benefit from latest technologies which reduce energy costs and lower their carbon footprint.
“Through our investment in the HISOT, the CEFC is keen to see the development and refurbishment of older buildings. 
"Energy efficient buildings have lower operating costs and have the potential to provide higher net operating income with lower vacancy rates, providing clear benefits to building owners, investors and tenants.”
The vendor was Commonwealth of Australia and the deal was brokered by Tony Massaro and the PwC Real Estate Advisory Team in Sydney.
 
</body></html>

jrobinson-rf4aSBido9

EG pays $15.4 million for central Canberra office asset

<html><body>
More than 100 registered bidders attended an auction event in Canberra last week.
There were 29 properties for auction with 22 selling under the hammer, reflecting a 76% clearance rate.
Out of the offering only one came without a registered bidder.
Five of the homes had more than seven registered bidders after more than 1000 inspections of the auctioned Ray White homes were undertaken.
Prices ranged from $430,000 to $1,452,500 including 15 Hakea Crescent, O’Connor (pictured above) with the four-bedroom 2009 home the highest result.
The $430,000 sale was a 150 sqm three bedroom Narrabundah apartment that had previously sold in 2003 at $285,000.
It was sold as a $420 a week rental until September. It had been initially listed with $475,000 hopes last year.
</body></html>

Canberra auctions off to a flier

<html><body>
House prices growth in Canberra is expected to top other capital cities between now and 2020, according to property expert John McGrath’s recent article in Switzer.
This growth will be drive by a 16% rise in population growth, continuing high incomes and a shortage of detached housing stock, said McGrath, citing data from economic forecaster BIS Oxford Economics.
Canberra also recorded its highest Winter auction clearance rate since 2009 and the fourth highest clearance on record at 69.2%, according to Domain.  
It was the best performing capital last weekend.
However, the capital’s two-tier marketplace: a rise in detached home prices and stagnation in apartment prices, is highlighted by the recent McGrath Report 2018 which says the national oversupply of apartments will see Canberra become one of only two capital cities with any apartment price growth by 2020.
<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/2017/12/15/capitals.jpg" alt="">
Median house prices in Canberra grew a solid 6.6% to $650,000 over the year to June 2017, according to CoreLogic, meanwhile apartment price growth was sluggish at just 2.9% to a median $442,500.  
 “Restricted house stock is attributable to a decline in new construction and the ongoing impact of more than 1,000 asbestos affected ‘Mr Fluffy’ blocks being removed from the market under compulsory acquisition by the ACT Government in 2014,” says McGrath in Switzer.
So far, only 400 remediated blocks have been released back into the market.
“Lack of stock is also contributing to a projected pick up in the renovations sector after a contraction of 6.1% in FY17. A lack of choice in the marketplace is driving some home buyers to stay put and renovate instead, with the Housing Industry Association forecasting renovations activity to increase by 5.1% during 2017-18.”   
Apartments and other non-detached housing make up 80% of dwelling approvals in Canberra, according to the HIA, while real estate firm JLL estimates a pipeline of 7,000 new apartments for the city by 2021.  
The apartment market is already in oversupply but a low vacancy rate of 1.7%, coupled with strong yields, is keeping apartment prices in slightly positive growth territory, he adds. 
Canberra’s median rent of $420 per week and median yield of 4.9% is expected to continue rising in the short term due to population growth, low numbers of first home buyers and an underlying shortage of rental accommodation.  
Population grew 11% in the ACT between 2011-2016, the largest of all states and territories and equivalent to more than 40,000 new residents, according to the Australian Bureau of Statistics (ABS).
 The ACT government expects further strong population growth of 6% in Canberra by 2020. About 60% of this growth will be driven by natural increase (births minus deaths) and around 40% through net overseas and interstate migration.    This growth is being supported by major new public projects like the $700 million citywide light rail network, with the first stage connecting the CBD and Gungahlin next year; and a revitalisation of the city precinct.
A big ticket housing project for 2017-18 will be the replacement of the Red Hill public housing units in the prized inner south. The new residential development will include 108 single dwelling sites, four multi-unit sites and six green spaces. Another 92 townhouses and apartments are planned for three blocks in Holder, Chapman and Wright.  
 With its selection of art galleries and vibrant restaurant scene, Canberra is shedding its stuffy reputation and becoming an attractive lifestyle and cultural destination, says McGrath, predicting better times ahead for the capital city.
 
</body></html>

Canberra

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Canberra

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News