<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

Sydney

<html><body>
World-renowned classical ballerina Darcey Bussell and her fund manager husband Angus Forbes have snappily sold their Vaucluse home pre-auction.
Title Tattle gleans as much as $4.9 million was accepted.
The Federation Arts and Crafts property was bought in 2005 for $4.15 million, 18 months before Darcey retired as principal ballerina with the Royal Ballet.
The five bedroom, three bathroom home was<a href="https://www.mcgrath.com.au/buy/house-vaucluse-nsw-2030/225396/?searchID=41540890" target="_blank"> scheduled for 30 August auction with cautious $4 million-plus expectations</a> through McGrath agent Ben Collier, who acknowledged that the views of the harbour from the house had been diminished since its purchase.
It was Guy Strapp, then BT's investment chief, and wife, Pru, who sold have sold in 2005 for $4.15 million having bought it in 2003 from internet entrepreneur Mark Cramer-Roberts for $4 million.
It now only has harbour views from upstairs.
Another Vaucluse house at 47 New South Head Road sold at $7.5 million which was $500,000 over the reserve at Cooley auction.
An overseas-based buyer secured the Tuscan-style, five-bedroom, five-bathroom home sold by James McCowan of Sotheby's International by Monique and Boris Ulis, director of Pacific Union.
However the property had been listed back in mid-2008 with $7 million hopes, suggesting it was a long time waiting the current sales spurt.
</body></html>

jchancellor-FAypfDUnLy

Ballerina Darcey Bussell sells as Vaucluse prestige market takes flight

<html><body>
Sydney’s expensive property market is a source of debate and genuine concern for home buyers and renters.
Using RP Data’s latest statistics, we delved into the house and unit rental markets across New South Wales to discover where the most costly places are to rent.
Across New South Wales, there were 48 suburbs where it cost $1,000 or above to rent a house. We've altered our houses list due to the abundance of holiday rental areas that made their way onto the top ten. <a href="/news">Killcare</a> at $2,600 and <a href="/news">Hardys Bay</a> at $2,000 officially made the grade as the top two costly areas. 
The figures we have listed are the weekly median advertised rent.
TOP 10 NEW SOUTH WALES RENTAL SUBURBS FOR HOUSES
<ol>
<li>
<a href="/news">Dover Heights</a> - $1,850
</li>
<li>
<a href="/news">Bellevue Hill</a> - $1,800
</li>
<li>
<a href="/news">Double Bay</a> - $1,800
</li>
<li>
<a href="/news">Tamarama</a> - $1,800
</li>
<li>
<a href="/news">Vaucluse</a> - $1,800
</li>
<li>
<a href="/news">Northwood</a> - $1,650
</li>
<li>
<a href="/news">Mosman</a> - $1,500
</li>
<li>
<a href="/news">Clontarf</a> - $1,495
</li>
<li><a href="/news">Rose Bay</a> - $1,400 </li>
<li><a href="/news">Burraneer </a>- $1,400 </li>
</ol>
See over page for the top 10 most expensive suburbs in which to rent a unit.
<hr class="system-pagebreak">
TOP 10 NEW SOUTH WALES RENTAL SUBURBS FOR UNITS
<ol>
<li>
<a href="/news">Millers Point</a> - $930
</li>
<li>
<a href="/news">Cabarita</a> - $875
</li>
<li>
<a href="/news">The Rocks</a> - $850
</li>
<li>
<a href="/news">Darling Point</a> - $850
</li>
<li>
<a href="/news">Seaforth</a> - $848
</li>
<li>
<a href="/news">Tamarama</a> - $768
</li>
<li>
<a href="/news">Milsons Point</a> - $750
</li>
<li>
<a href="/news">Birchgrove</a> - $735
</li>
<li>
<a href="/news">Broulee</a> - $725
</li>
<li>
<a href="/news">Haymarket</a> - $720
</li>
</ol>
</body></html>

jduke-EHk3XBmHkn

New South Wales' 10 priciest suburbs to rent a house or unit

<html><body>
<form id="dateForm" action="https://www.mcgrath.com.au/buying/thisweek/" method="get" name="dateForm">
The most affordable Sydney property reported sold at the weekend was the two bedroom unit at 8/12 Palmerston Street, Kogarah (pictured above) at $415,000 through Raine and Horne.
It last sold at $120,000 in 1994, so over the two decades it went up 6.4% annually.
The agents had given buyer indications at $400,000 plus, so it was fractionally above estimate.
Property Observer checked the pre-spring guidance against 14 weekend sales results.
There was an average 11% difference above the pre-auction indication, with estimates ranging from 3% to 19% above.
The 11% weekend average was well below two weekends ago when <a href="/expert-insights/buying/paying-18-over-auction-estimates-sydneys-pre-spring-price-spurt">the 10 offerings under review averaged 18% above guidance</a>.
</form>
<table style="width: 460px;" border="1" cellpadding="0">
<thead><tr>
<td width="171">
Address
</td>
<td width="206">
Suburb
</td>
<td width="136">
State
</td>
<td width="199">
Price Guide
</td>
</tr></thead>
<tbody>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-petersham-nsw-2049/227011" target="_blank">9A Audley Street</a>
</td>
<td width="206">
PETERSHAM
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,100,000 SOLD $1.236m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-randwick-nsw-2031/233458" target="_blank">1/37 Prince Street</a>
</td>
<td width="206">
RANDWICK
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,150,000 SOLD $1.25m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-surry-hills-nsw-2010/232445" target="_blank">129 Arthur Street</a>
</td>
<td width="206">
SURRY HILLS
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,500,000 SOLD $1.67m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-hurstville-grove-nsw-2220/232536" target="_blank">85 Waitara Parade</a>
</td>
<td width="206">
HURSTVILLE GROVE
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,250,000 SOLD $1.4M
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-bellevue-hill-nsw-2023/225270">9/10 Aston Gardens</a>
</td>
<td width="206">
BELLEVUE HILL
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $725,000 SOLD $865,000
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-randwick-nsw-2031/232988">44 Howard Street</a>
</td>
<td width="206">
RANDWICK
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,700,000 SOLD $1.765m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-beverley-park-nsw-2217/125435">54 Battye Avenue</a>
</td>
<td width="206">
BEVERLEY PARK
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,300,000 SOLD $1.5m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-epping-nsw-2121/230260">106 Midson Road</a>
</td>
<td width="206">
EPPING
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,400,000 SOLD $1.65m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-north-curl-curl-nsw-2099/231760" target="_blank">5 Ian Avenue</a>
</td>
<td width="206">
NORTH CURL CURL
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,700,000 SOLD $1.75m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-woonona-nsw-2517/231444" target="_blank">33 Railway Parade</a>
</td>
<td width="206">
WOONONA
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $700,000 SOLD $780,000
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-balmain-nsw-2041/233342" target="_blank">8/3 Rosebery Place</a>
</td>
<td width="206">
BALMAIN
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $800,000 SOLD $925,000
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-cammeray-nsw-2062/232790" target="_blank">18/20 Warwick Avenue</a>
</td>
<td width="206">
CAMMERAY
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $650,000 SOLD $690,000
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-hornsby-heights-nsw-2077/202677" target="_blank">14 Brett Avenue</a>
</td>
<td width="206">
HORNSBY HEIGHTS
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $750,000 SOLD $815,000
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-marrickville-nsw-2204/233753" target="_blank">7 Park Road</a>
</td>
<td width="206">
MARRICKVILLE
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,150,000 SOLD $1.361m
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Buyers needed to add 11% to weekend Sydney pre-auction price guidance

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With some 704,000 bonds amounting to $1.043 billion in its care, the NSW Rental Bond Board’s annual report shows some interesting trends that investors I think will find interesting.
Let's look at some of the facts from the 2012-13 annual report.
The raw numbers firstly show that bonds held increased by 3.4% over the number held at 30 June 2012, new bonds increased by 2.8% but the number of refunds was far less at only 0.8%. This shows how tight the rental market was in NSW; the average bond paid was $1,483. Investors in residential property might also be interested to know that February appears to be the month when most tenancies change over after a slump in demand in January. As might be expected most tenants move out of their accommodation in December and February.
It also appears that the majority of investors use a managing agent, as real estate agents lodged 89% of bonds.
The Board’s annual report also gives a very clear picture about the relative size and growth in demand as new bonds paid are examined by postcode groupings. Across metropolitan Sydney the biggest rental markets are the Eastern Suburbs with 50,513 bonds, followed by Western Sydney (41,432) and St George (36,071). However the Board’s figures show that the three areas with the biggest increases in bonds, and hence tenancies (available supply) where: South Sydney 8.7%, Western Sydney 6.6% and Parramatta Hills 5.0%. The areas with the highest median rentals were Inner Sydney and South Sydney with growth rates of 5.4%.
An interesting observation from these figures is what appears to be an even spread of growth south, east, west and south, although in combination the west is dominate with 119,252 tenancies.
Outside of the metro area the three biggest rental markets, as measured by the number of bonds paid were: the North Coast 55,401, Greater Newcastle 35,949 and Penrith/Windsor 32,009. It was somewhat surprising to see the Central Coast in fourth spot with 29,255 tenancies. The areas with the biggest increase in supply were: Penrith/Windsor with 5.9%, Dubbo &amp; North West 5.2% and Campbelltown 5.1%.
Between 2011/12 and 2012/13 the population growth for NSW was approximately between 1.2 and 1.4%, but over the same period the Board’s figures indicate that tenancies grew at a much bigger rate of 2.7 and 3.3%. While by no means conclusive, this contrast does clearly show that many people have relied upon rental accommodation and would indicate continued demand into the immediate future.
This is a very noteworthy annual report, it points to strong demand for rental accommodation, a trend towards longer lease terms, a well-managed private rental market with quality and stable tenancies. All of which are factors that given the extent of the Board’s activities underline the appeal of residential property investments.
The Board invests tenant bonds and the income is used to fund a number of programs including Tenant’s Advice and Advocacy ($4.63 million, this is a program jointly funded by the Board and Fair Trading), Credit Counselling, No Interest Loans Schemes and Aged-care Rights Services – many of these programs are of wider community benefit, but they along with the functions of the Board itself, helps to create a stable and transparent rental market. I think this is a positive and important function for investors, as it helps create very stable administration within a large rental market of some 704,000 individual tenancies.
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Sydney rental market continues to tighten with trend towards longer leases

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Offering VIP access for those registering in their “first time offered” marketing, North Sydney’s Lucent offers 211 apartments spanning 17 levels.
The $200 million <a href="https://lucentnorthsydney.com.au/" target="_blank">Lucent</a> development from Greenland Holding Group, marketed by CBRE, includes one, two and three bedroom apartments are available from $528,000, many of which have parking.
It has city and harbour views and has interiors from architectural firm Turner Studio.
Facilities include a rooftop infinity pool, a rooftop garden and an outdoor barbecue area. It also has a fully equipped gym and deck.
In April, Greenland <a href="/expert-insights/buying/greenland-centre-launches-second-sales-stage">launched the second sales stage of their Greenland Centre development</a> after all 300 apartments offered in the first sales release have been sold.
It was the <a href="/news/nsw/chinese-breathing-competitive-life-into-sydney-high-rise-scene">Chinese company's first development in Australia</a>, with Lucent representing their second Sydney offering.
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Lucent, North Sydney apartments "first time offered" marketing

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Harry Triguboff’s Meriton Group has bought the DEXUS Property Group business park in Rosebery spending $190 million for the 4.9-hectare offering.
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DEXUS Property Group sold <a href="https://www.realcommercial.com.au/property-offices-nsw-rosebery-5497126" target="_blank">5-13 Rosebery Avenue</a> (pictured above) and 25-55 Rothschild Avenue in Rosebery, Sydney, with trading profits to be realised in FY15 and FY16. 
It is expected that the sale will contribute approximately $17 million to FY15 trading profits and materially increase trading profits in FY16 contributing approximately $74 million pre-tax. 
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The business park which had a book value of about $100 million was sold through JLL’s Michael Fenton, Sam Brewer and Blair Peterken.
Meriton now has 14,000 units in its pipeline as more than 1000 apartments will be built at the 4.9-hectare site.
There are eight mature Hills Fig trees on the boundary of 5-13 Rosebery Avenue with City of Sydney studies having identified these trees as a local landmark and as a defining feature of the precinct. 
5-13 Rosebery Avenue is a recently refurbished, 10 level office building within close proximity to Southern Cross Drive, the Eastern Distributor and Sydney Kingsford Smith airport.
During the year DEXUS undertook a total of $5.4 billion transactions across the group, including the joint acquisition of the $3.4 billion CPA portfolio with CPPIB. 
The CPA transaction, completed in April 2014, increased the value of the office portfolio to $7.6 billion.
DEXUS today announced its 30 June 2014 results. 
Dexus Property Group said its full-year net profit fell to $406 million. Revenue in the year rose 7.2% to $700 million.
In FY15, DEXUS has a trading profit target of $40 million.
DEXUS chief Darren Steinberg said it had progressed the sale of 40 Market Street, Melbourne which is expected to contribute to FY15 trading profits.
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Amid heritage fig trees Meriton spends $190 million on DEXUS Rosebery business park

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The Roche family has secured $58 million plus for its Balmain waterfront industrial site, the former headquarters of their former Nutrimetics cosmetics business.
Toga Group is believed to be the buyer of <a href="https://www.propertyobserver.com.au/https://search.knightfrank.com.au/1634869" target="_blank">100 Elliott Street</a>, according to the Australia Financial Review.
It is a 12,375 square metre site - with development approval for 121 apartments - on the banks of the Parramatta River.
<a href="https://www.propertyobserver.com.au/https://search.knightfrank.com.au/1634869" target="_blank">Knight Frank agents Peter Krieg and Domenic Ong</a> marketed the property which had a 30 July expressions of interest deadline.
Bill and Imelda Roche sold Nutrimetics to the Sara Lee Corporation in 1997.
 
{qtube vid:=dP0MxvqrwsE}
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Roche family secures $58 million plus for former Balmain Nutrimetics HQ

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The rapidly growing Sydney, that has forecasts numbering more than 1.6 million additional people by 2031 and 664,000 new homes needed, has seen numerous plans for its future and growth.
Growth Infrastructure Plans and the Precinct Support Scheme are among the initiatives being used to support expected growth. Another of these is the Urban Activation Precincts – essentially, 11 different areas with the aim of providing more properties that can easily access infrastructure, transport, services and jobs.
A frequent mantra in property investing is to <a href="/expert-insights/investing/follow-the-infrastructure-trail-to-find-future-growth-suburbs">follow government spending and upcoming infrastructure projects</a>, as well as strong population growth, to get in early to the hotspots.
According to the NSW state government, the choice behind the 11 areas was based on locations they could provide affordable and diverse housing with “good access to infrastructure, particularly transport”. It applies to both greenfield and infill locations.
“Precincts are envisaged as being larger areas, usually made up of multiple land-holdings. They will be capable of delivering significant additional growth and require coordination from State and local government to realise their potential,” explains the guideline to why these areas are selected.
The first eight announced in March 2013, with the final three on this list announced this month. There have been varying levels of progress in each, with some left uncertain as other planning projects and community consultation are explored. We have detailed some of the more prominent factors below.
North Ryde Station
<ul>
<li>12.5 hectares of land rezoned 
</li>
<li>Maximum building heights around the station (reduced from initial plan of 108 metres) set at 92 metres 
</li>
<li>More than 2.4 hectares of parks and open space expected 
</li>
<li>An estimated 3,000 homes and 1,500 jobs within 10 minutes of the station 
</li>
<li>More than $17 million worth of transport upgrades</li>
</ul>
Epping Town Centre
<ul>
<li>Rezoning is complete, as from March 2014 
</li>
<li>Funding arrangements being worked through with Parramatta City Council and Hornsby Shire Council 
</li>
<li>Strong demand for residential development currently 
</li>
<li>Expected increase in demand for retail development</li>
</ul>
Herring Road, Macquarie Park
<ul>
<li>Changes to land use zonings, building heights and densities are proposed 
</li>
<li>Expectation for increased housing, commercial, retail, education and recreation development 
</li>
<li>New connecting streets, footpaths and cycleways proposed 
</li>
<li>Existing market demand for new housing and employment identified 
</li>
<li>Around 54 hectares of the 247 hectares rezoned to provide 3,750 new homes 
</li>
<li>Rezoning allows buildings of between eight and 22 storeys within 400 metre radius of the railway station (for residential and commercial mixed uses) 
</li>
<li>Up to five storeys allowed in selected residential areas</li>
</ul>
Randwick
<ul>
<li>The current process was on hold for three months after December 2013 community consultation 
</li>
<li>Feedback to again be sought 
</li>
<li>Precinct spans parts of Randwick, Kensington and Kingsford, and includes UNSW, Prince of Wales Hospital, Randwick Children’s Hospital, Randwick Racecourse and NIDA</li>
</ul>
Anzac Parade South
<ul>
<li>The current process was on hold for three months after December 2013 community consultation 
</li>
<li>Feedback to again be sought 
</li>
<li>Precinct includes corridor around Anzac Parade from south of Kingsford to La Perouse</li>
</ul>
The list of Urban Activation Precincts continues on the next page. Please click below. 
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Carter Street, Lidcombe
<ul>
<li>Strong connections to Sydney Olympic Park suggest it will benefit from government infrastructure investment 
</li>
<li>Currently under consideration after a public exhibition period</li>
</ul>
Proposals:
<ul>
<li>More than 5,500 new homes, including townhouses and apartments 
</li>
<li>Buildings of primarily four to six storeys along east-west streets, six to eight stories along main streets and parks, and up to 20 storeys on five specified sites 
</li>
<li>Retail centre with up to 12,000 square metres of shops and services along Uhrig Road 
</li>
<li>Corporate offices and a business and technology park on 11.4 hectares along the M4 corridor</li>
</ul>
Wentworth Point
<ul>
<li>Rezoning completed in June 2014 
</li>
<li>Two residential neighbourhoods, with a total of 2,300 apartments in buildings spanning up to seven storeys and six buildings of up to 25 storeys 
</li>
<li>New primary school with 18 classrooms 
</li>
<li>Marine facilities may be possible 
</li>
<li>Funding arrangements being discussed with Auburn Council</li>
</ul>
Mascot Station
<ul>
<li>Plan is currently on hold pending details of the WestConnex project 
</li>
<li>Higher density housing demand has been identified 
</li>
<li>Residential redevelopment is currently well-advanced in the area surrounding the station, which was formerly industrial land 
</li>
<li>Scope to expand the redevelopment area</li>
</ul>
Kellyville Station
<ul>
<li>Investigation over potential land uses in the precinct being undertaken 
</li>
<li>Precinct includes the area around the future station, part of the North West Rail Link 
</li>
<li>Boundary is based on nearest road boundary – within 800 metres of the station or a 10 minute walk</li>
</ul>
Showground Station
<ul>
<li>Investigation over potential land uses in the precinct being undertaken 
</li>
<li>Precinct includes the area around the future station, part of the North West Rail Link 
</li>
<li>Boundary is based on nearest road boundary – within 800 metres of the station or a 10 minute walk</li>
</ul>
Bella Vista Station
<ul>
<li>Investigation over potential land uses in the precinct being undertaken 
</li>
<li>Precinct includes the area around the future station, part of the North West Rail Link 
</li>
<li>Boundary is based on nearest road boundary – within 800 metres of the station or a 10 minute walk</li>
</ul>
The Property Council of Australia (PCA) has said that the latest three additions to the list are sensible decisions. However, they've noted that to deliver on housing targets, the state government will need to reject a claim from the local council to increase apartment sizes, explained PCA NSW executive director Glenn Byres.
"The scale of investment in the new rail line is unprecedented so it makes sense to leverage off it with new hot spots for growth," said Byres.
"Escalating population growth in our west means we need to hasten investment in new housing and employment opportunities," he said, noting that lifting densities will improve housing yield in the targeted sites.
“But we also need councils to play their part and ensure local planning controls reflect the objective of adding to the vibrancy of key centres," he said, pointing to the Hills Shire Council's consideration of planning controls that may increase apartment sizes by as much as 50%, limiting availability of one-bedroom apartments.
“The state will need to reject the claim because the changes risk increasing construction costs by up to $65,000 per apartment and limit the ability of developers to meet market demand," he said.
The PCA are also encouraging a fast-tracked approach to these three areas.
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The 11 Sydney areas every property investor should know: Urban Activation Precincts

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Planning policy changes have allowed 2,500 Western Sydney home sites to be instantly brought online, according to Minister for Planning Pru Goward.
Yesterday, Property Observer wrote that <a href="/expert-insights/building/numerous-sydney-areas-rezoned-to-allow-for-higher-density-developments">multi-storey residential towers are expected to be built in many parts of Sydney as numerous areas undergo a rezoning</a>. Community pushback to development applications are likely.
The changes to the Growth Centres State Environmental Planning Policy are expected to bring greater diversity, affordability and meet the needs of the growing population in the area, said Goward.
“The changes mean a Western Sydney home buyer will have more choice of home type, and may also save up to 10% on the cost of their new home,” she said.
“The NSW government has accelerated the release of land to keep up with demand, and now we are providing more choices and allowing for more affordable options for Western Sydney families.”
The amendment allows smaller lot sizes, and medium density builds, that Goward believes will keep house and land packages under $400,000.
Growth Centres will now face the same planning controls, as well as a faster subdivision and home building approval process.
The changes will permit townhouse and villa-style housing, detached homes on a number of lot sizes, detached dwellings on small lots in medium density zones and studio dwellings to be strata subdivided from the main house so they can be sold as a separate dwelling.
Standardised minimum lot sizes, new approval pathways, standards for subdivision and house design and more opportunities to use the 10 day approval process for new homes on smaller lots have also been introduced.
“New suburbs in Western Sydney are expected to be home to half a million people over the next 25 years so it’s crucial for us to get the planning right now,” Goward said.
“This good future planning is supported by the NSW government’s record investment in transport infrastructure servicing these areas through the North West and South West Rail Links and work to complete Sydney’s motorway network.”  
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Planning changes instantly unlocks 2,500 Western Sydney homes

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Sydney’s residential vacancy rates are on the rise, with July recording a 0.2% increase to 2.0%, according to the Real Estate Institute of New South Wales (REINSW) Vacancy Rate Survey.
REINSW president Malcolm Gunning notes that more apartment stock entered the marketplace, which may be behind some of this increase.
“Inner Sydney vacancy rates led the way with an increase of 0.1% to 2.0%, while the outer suburbs increased 0.4% to 1.9%. The middle suburbs bucked the trend with a fall of 0.2%, but remain at the neutral level of 1.9%,” said Gunning.
“We expect this growth in rental accommodation to continue as even more new stock enters the marketplace.”
This has come at a time when ANZ Research’s David Cannington is seeing Sydney growth moderating, as Melbourne takes out top spot when looking at growth on a trend basis. Price growth year on year is sitting at 15.1% for Sydney, and 11.3% for Melbourne.
“Housing market sales continued to reflect positive housing market sentiment in the past week, particularly in Sydney where elevated auction levels for this time of year have cleared at greater than 75% for the fifth consecutive week,” noted Cannington.
He notes that elevated auction clearance rates, for both Sydney and Melbourne, are foreshadowing strong sales demand and further house price gains in the remaining 2014 months.
Outside of the Sydney area, vacancy rates have been recorded as a mixed picture. In the Hunter, a 0.5% increase was recorded, despite a 0.3% decline in Newcastle. Illawarra increased by 0.3%, while Wollongong remained steady at 2.1%.
New England, however, has hit an 11 year high, up to 4.2% with a 0.2% increase recorded. In October 2003, the last time it was this high, it recorded 4.8% vacancy. The South Coast is up 1.4%, with Central West has dropped 0.5%.
Murrumbidgee’s vacancy rate was up 0.5%, while Albury increased by 0.7%.
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