<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

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Country Garden Australia secured 296 sales today when the Ryde Garden development went on sale.
The six hour purchasing spree for the project in Sydney’s North Ryde secured around $186 million in sales.
Buyers secured one, two and three bedroom apartments starting at $488,000. The two bedders were priced from $688,000, and three bedroom apartments priced from $888,000.
There were five sales of the project’s three bedroom sky-homes, boasting views across Sydney, for between $1.3 million and $1.7 million.
"These sales were a record for the area," agents advised. 
<a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3626&amp;wlid=5ad6e8b1-b411-435b-a832-4cc784d50cce" target="_blank" style="line-height: 1.3em;">They are for sale through CPM Realty agent Sam Elbanna</a> and JLL with a 2017 completion date, subject to final council approval.
JLL and CPM said that the results had exceeded expectations. 
Bates Smart Architects designed 830 apartments for Country Garden’s first Australian project, over three buildings on a site 50 metres from North Ryde train station. There will be a 2,100 square metre central park. Each tower is set to have its own rooftop garden.
The Hong Kong-listed development company, Country Garden bought their first Australian development site in late 2013 at North Ryde.
Wanting to become a major developer in Australia for the long term, the group has a preference for suburban sites which could sustain large garden areas.
“Up to 20% of the buyers were former Country Garden customers,” the company’s general manager, sales and marketing, Nicholas Hum, told the Australian Financial Review.
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jchancellor-FAypfDUnLy

Strong off the plan sales at Country Garden's Ryde Garden project

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News Limited's Lachlan Murdoch and wife Sarah sold their Bronte trophy property yesterday afternoon, ahead of today's 12.30pm scheduled auction.
The contemporary Bronte Road house was initially listed in 2009 with hopes of $13.5 million.
But Fairfax Media report it sold for a little over $10 million.
There has been no official sale price indication on Lachlan Murdoch's website, <a href="https://www.realestate.com.au/property-house-nsw-bronte-117070459" target="_blank">realestate.com.au</a>. Title Tattle recalls it was an unsolicited bid in April 2005 that secured the $7.75 million house above Bronte Beach as the Murdochs’ base for their return to Australia from New York.
It was bought from Graham Ford, the Bronte Surf Club president, who built it in 2001.
Lachlan Murdoch, the co-chair of News Corp and 21st Century Fox, and his wife Sarah first listed it in 2009 and then 2011.
Agents Ken Jacobs and Darren Curtis of Christie's International had the prestige listing for June 28 auction.
Le Manoir, Lachlan and Sarah Murdoch's $23 million Georgian estate in Bellevue Hill, will soon become the couple's permanent base. 
In the meantime the Murdoch couple continue their lease on Coolong, the Vaucluse beachfront residence of expats Ivan and Marina Ritossa.
The last big Bronte property play was in 2012 when Seumas Dawes, the London-based Australian merchant banker, who sits on the latest Sunday Times Richest 1000 list, and is the chairman of the investment committee at Pepper Investment Management, bought the neighbouring Bronte property.
<a href="/news/a-cut-above-the-rest-the-era-of-sydney-mega-mansions-far-from-over-title-tattle">Title Tattle reported</a> at the time that Dawes had poured some of his then £90 net worth into a serious Bronte acquisition. He now sits in equal 739th place with a £124 million net worth on the recent Sunday Times Richest 1000 list. 
The funds manager and his wife Rosemary had initially spent $12.3 million for a large, modern three-storey residence in 2006. It was a modern five-bedroom residence on the ocean side of Bronte Road overlooking the beach and ocean.
<img src="/images/stories/2013/02/bronte1.jpg" alt="bronte1">
Then in 2012, the Dawes couple splashed out with the $16.5 million purchase of the neighbouring house, which they've bulldozed to expand their garden and garaging in grounds prepared by Formed Gardens.
The new works, which include gym and cabana, improve the neighbouring contemporary houses's north eastern aspect in unquestionably one of the most expensive coastal suburbs on the exclusive <a href="/news"></a>strip known as The Cutting.
Rosemary Seaton, the wife of merchant banker Seumas Dawes, recently sold her <a href="https://www.mcgrath.com.au/buy/house-waverley-nsw-2024/202047/?searchID=40389687" target="_blank">Luigi Rosselli-designed Waverley</a> house for $3.8 million which settled earlier this month.
Seaton had paid $3.9 million in 2009 for the five-bedroom residence which was bought by Fiona Ford, who recently sold her nearby semi.
Luigi Rosselli had designed the property for the Yong family who sold it to Seaton in 2009.
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Lachlan and Sarah Murdoch secure pre-auction Bronte trophy house sale

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Peter Bond, the chief executive of gas company Linc Energy, withdrew the Redfern post office premises from its scheduled auction last night.
The Business Review Weekly rich lister <a href="/news/nsw/redfern-proving-magnetic-for-coal-executives">bought it in mid-2011</a> when <a href="/expert-insights/investing/linc-energys-peter-bond-lists-redfern-post-office-premises">the former post office commercial premises</a> at <a href="https://www.propertyobserver.com.au/new-south-wales/redfern-proving-magnetic-for-coal-execs/2011062250564" target="_blank">113-119 Redfern Street were sold by spruiker Max Markson</a> for $2,125,000.
The building, which has a clock tower and bell, last sold through agents Paul Ephron and Ben Forsyth. Markson had bought it from Sorin Dascalu &amp; Associates in 2006 for $1.9 million.
The former Redfern Post Office, in Redfern, NSW, was built in 1882. It has a two-storey Victorian Italianate building plus a dominant four-and-half-storey corner clock tower. The post office included a telegraph office, parlour, drawing room, three bedrooms, kitchen, a servant’s room, bathroom, scullery, washhouse, fuel shed and two stall stables.
In 1880, £3000 was provided for the erection of the Redfern post office, and then the Public Works added a clock tower for an estimated extra £700.
The building has 480 square metres of internal space on its 330-square-metre Redfern Street block. 
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-redfern-nsw-2016/227755" target="_blank">It was listed</a> through McGrath agents James Dack and Chris Chung.
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No sale for Linc's Peter Bond Redfern post office offering

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The Sydney Morning Herald <a href="http://www.smh.com.au/nsw/melbourne-train-operator-metro-to-run-sydneys-northwest-rail-link-20140624-zsjyr" target="_blank">reported yesterday</a> that the Baird Government in New South Wales has selected <a href="http://www.metrotrains.com.au/who-we-are/" target="_blank">Metro Trains Melbourne</a> - the consortium made up of MTR Corporation, John Holland and UGL which operates and maintains the entire Melbourne metropolitan network - to operate the <a href="http://nwrail.transport.nsw.gov.au/" target="_blank">North West Rail Link</a>.

The North West Rail Link project consists of twin 15 kilometre tunnels and four kilometres of elevated track from Epping on the city's main northern trainline to Sydney's North West outskirts at Rouse Hill. The project in a way winds back the clock for Sydney (albeit not necessarily in a bad way), as the new tunnels will only cater for single deck trains, and the Chatswood-Epping link will be retrofitted to allow North West Rail Link trains to run all the way from Rouse Hill to Chatswood.

Trains running on the new line and through the retrofitted Chatswood-Epping corridor will be fully automated being centrally controlled with no train drivers. This will be a first for Australia.

The New South Wales Government also outlined plans to <a href="http://www.smh.com.au/nsw/planned-new-rail-line-would-cut-direct-trains-from-inner-west-to-redfern-sydney-university-20140624-zsjnd" target="_blank">convert the existing Bankstown line</a> and build a <a href="http://www.smh.com.au/nsw/nsw-electricity-sale-to-pay-for-new-harbour-crossing-rail-roads-20140610-39uyu" target="_blank">second Sydney Harbour crossing</a> to allow the new North West Link to form a part of a complete rapid transit line.

The ultimate goal of having one long rapid transit line from Sydney's North West through the Central Business District and out to South West is very similar to the goal in Melbourne, of running Pakenham and Cranbourne trains in the South East through the Melbourne Rail Link to Sunbury (and when electrified) Melton. And as various documentation released by the Victorian Government and Public Transport Victoria has alluded to, the new high-capacity signalling system - to be rolled out as part of the <a href="http://www.transport.vic.gov.au/projects/cranbourne-pakenham-rail-corridor-project" target="_blank">Dandenong corridor project</a> - will be a precursor to allowing Melbourne trains to head down the automated path as well.

Given the same consortium will be building both the North West Rail Link and the Dandenong Corridor project in and around the same timeframes, it will be interesting to see how much of the same technology will be applied in both cities.

Lead image credit: <a href="http://nwrail.transport.nsw.gov.au/The-Project/Project-Overview" target="_blank">nwrail.transport.nsw.gov.au</a>
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Alastair Taylor

Metro Trains Melbourne to operate Sydney's North West Rail Link

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The Sydney Antique Centre, at 517-543 South Dowling Street, Surry Hills, has been sold. It is Australia's oldest, and one of the largest, antique centres with over 50 antiques and art dealers.
Property Observer gleans it fetched about $9.2 million <a href="https://www.realcommercial.com.au/property-offices-nsw-surry+hills-501108211" target="_blank">through DB Property agent Eric Lundberg</a> who was seeking offers over $9.25 million for the landlord, Neil Burley.
The purchaser is the Karageorge family's Stasia Holdings. 
The 1,308 square metre holding had been marketed with vacant possession as suitable for residential redevelopment with its B4 mixed use zoning.
It comes with 2,600 square metre space, plus car parking for 10 cars. 
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South Dowling Street is predominantly Victorian in character with some later Federation and Inter-War development. 
Long known as Kings Cross landlords, the Karageorge family most recently spent $7.95 million on a Foveaux Street, Surry Hills office in late 2012.
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Sydney Antique Centre sold for $9.2 million in Surry Hills

jduke-EHk3XBmHkn

Infrastructure development the factor to watch in Sydney: Knight Frank

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A new Hunters Hill riverfront record has been secured at $12.5 million for a six-bedroom Chevalier Crescent residence.
The buyer is upgrading mining executive Yong Zhang from the Australian uranium explorer Zeus Resources.
The 1,690 square metre property within the Pulpit Point precinct was sold by the Tran family who bought it in 2002 for $5.35 million
The prior <a href="/news">Hunters Hill</a> record stood at $10.68 million just next door when a home on 1,300 square metres was sold in 2007 by the Panzarino family, according to RP Data.
The sale took place May 22 through Trisha Guo of First National Gladesville.
Zhang and his wife Chun Feng Wu have owned another Hunters Hill waterfront home, five bedrooms on 784 square metres, which they bought on Mount Street for $4.19 million in 2007.
<a href="https://www.zeusresources.com/board-of-directors.asp" target="_blank">The mining company website </a>shows Yong Zhang holds a Bachelor of Engineering from Shandong Construction College and has an extensive career in property development, real estate sales and investment. Mr Zhang has extensive property interests in China with over 1,600 employees.
Mr Zhang was instrumental in securing the cornerstone investment in Zeus by China Metallurgical Geological Bureau, via its subsidiary Zhengyuan International Mining Company Limited.
 
Image courtesy of Google Maps. 
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Hunters Hill's record $12.5 million riverfront sale

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Lend Lease secured the off the plan sellout of all 357 Sydney apartments in the first stage of its Darling Square<a href="https://www.darlingsq.com" target="_blank"></a> residences, totalling at least $500 million, with revenue estimates as high as $650 million.
Set on the doorstep of Darling Harbour, Haymarket, Chinatown and Ultimo, the entire <a href="https://www.darlingsq.com" target="_blank">Darling Square</a> project will comprise 1,400 apartments, 20,000 square metres of campus-style offices and retail around a new town square. There will be an estimated 3,200 new residents, plus 1,000 students in student accommodation and 2,000 workers in the mixed-use precinct which will be part of the Darling Quarter redevelopment by Lend Lease on the edge of Darling Harbour. 
Marketed as "Sydney's newest Darling," prices ranged from $700,000 for a 50-square-metre, one-bedroom ­apartment to $3.5 million for a 130-square-metre sky home through CBRE in Darling Square which will have apartments on which SJB and DCM have collaborated.
About 25% of apartments were sold to offshore ­buyers.
The proximity to UTS encouraged purchasing by Chinese families.
Construction of the 40-storey apartment block and seven-storey block will be completed in 2017.
It is among the three towers to be built on the site of the Sydney Entertainment Centre and car park at Haymarket.
The entire precinct is due for completion in 2020. 
The Lend Lease executive project director, Rob Deck reported more than 5,000 inquiries before Saturday's public launch.
Last August, Lend Lease secured the same day sellout of the first stage of Barangaroo - 159 apartments - which secured some $300 million worth of sales.
Meanwhile Grocon and Markham Corporation have approval for their $700 million redevelopment of the Imax theatre in Darling Harbour, Sydney, into the proposed office/retail and entertainment complex, The Ribbon. It will involve the demolition of the Imax tower replaced by a 20-storey building.
 
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Darling Square first stage sellout by Lend Lease

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If Sydney’s growth continued at the high levels being seen before, then it could have been the beginning of bubble conditions and price drops, according to Residex’s John Edwards.
Discussing new research from Onthehouse that noted residential capital growth rates for May were at lower levels that expected, Edwards expressed his relief.
“With any luck, the statistics will continue on this new trend of lower rates of growth over the next few months. Housing markets, particularly Sydney, were moving to a “boom” like performance,” said Edwards.
“This was dangerous and could have led to a “bubble” and a severe correction if it continued. The slowing of the market at this point in time suggests that we are going to avoid this outcome. Having said this, the Sydney market is still overvalued and in reality too expensive,” he said.
In many areas across Australia, <a href="/news/brisbane-catching-up-but-overvalued-sydney-still-strongest-of-the-capital-cities-onthehouses-john-edwards">houses and units experienced negative growth rates for the month</a> – although overall national house growth was recorded at 0.36% in May. This compares to 1.71% in the last quarter. Units dropped nationally by 0.23%, compared to 1.17% growth over the quarter.
In Sydney, house growth was subdued at 0.24%, but remains 17.42% up over the last 12 months. House values in Melbourne dropped 0.03%, although still clocked in 9.45% growth over 12 months.
In fact, over the month, Country Western Australia recorded the highest house price growth rate with a 2.38% result. Perth, however, had the biggest house price decline, with a 1.9% fall.
In the Northern Territory, units grew the most by 1.53%, with unit values falling the most in Country Tasmania, by 2.73%.
These figures have Edwards a little more comfortable that growth rates will be subdued in the future.
“The data from May is not sufficient on its own to confirm that this lower rate of growth is about to be a new feature, but my best guess is that this will in fact be the case,” he said.
He also notes the Sydney unit market is likely passed its peak, with 2.81% growth for the quarter ending May.
House and land may not be quite at this point.
However, it is not as clear that the house and land market has arrived at the same position. 
“The Sydney house and land assets are more often traded via the auction market and hence clearance rates are potentially a lead indicator for this sector. In recent weeks, auction clearance rates in Sydney have been softer – our calculations indicate that the Sydney clearance rate was 68% for the week ending 14 June. This figure suggests a market that is now slowing.”
Turn the page for the full details of house and unit price movements across Australia.
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<img src="/images/2014/06/19/residex-june-19-one.jpg" alt="">
Source: Onthehouse.com.au
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Sydney market overvalued, with “bubble” potential: John Edwards

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Sydney's price growth this year will be between 5% to 8%, estate agent John McGrath forecasts.
"That would give us a collective 20% growth for the first couple of years of this cycle and that’s a significant – yet sustainable, rise in property values," he told the readers of <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert" target="_blank">his Switzer blog</a>.
He still expects further price growth in 2014 but says it will inevitably slow. 
John McGrath had earlier this year forecast up to 10% growth this year, so the upper range of his forecast has been adjusted slightly downwards.
"In Sydney, I think we will see 5% to 8% growth this year off the back of almost 15% last year," he said this week.
McGrath says the past year in Sydney real estate had been a "really exciting time."
"The market has been in full recovery mode and the hottest I’ve seen it in many years. 
"However, people are now starting to talk about it being all over," he recently noted. 
"I’ve been doing this for over 30 years and I can tell you recoveries never occur in a straight line. 
"We often have a bull run at the start; then after a period of great growth, it eases off. 
"Buyers become concerned they’re going to pay too much, others get sick of missing out and take a break. 
"Demand comes off the boil and price growth slows.  And that’s the key. It slows, it doesn’t stop or go into reverse.   It’s very healthy for markets to take a breather now and then during a new growth cycle. 
"That’s how price bubbles are prevented. 
"We saw 14.5% growth in 2013. At the start of this year, I was tipping 5 to 10% growth with an inevitable decline in the frenzied activity of 2013.  Sydney achieved 4.1% in the first quarter.  If we have just 0.5% growth every month for the remaining nine, we’ll end up with 8.6% for the year. That’s good, steady growth."  John McGrath said last year, the strongest segment in Sydney was inner city and beachside markets between $750,000 and $2 million. 
"Now, we’re seeing more activity in the higher price brackets and RP Data’s research confirms this trend." He said that as with most market recoveries in Australia, what happens in Sydney eventually happens everywhere else. 
"If Sydney is starting to slow down overall, other markets are probably about to heat up."
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