<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

Edwin Almeida

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GUEST OBSERVATION
Not so long ago it was considered a wise investment to buy an off the plan property.
I’m not sure if this premise stacks up now. As shared in a previous article, overseas investors (OI) are paying premium prices for property and the notion of “buying at a cheaper price point” to assist the builder/developer no longer exists. With the new trend of having guaranteed purchasers predominantly from Asia, purchasers pay future prices for property thus allowing for add-hock construction and for builders to push property out quicker than ever.
This new trend of quick development and guaranteed sales is fuelled by the high commissions payed to real estate marketers and agents that have a reach into the off shore investor markets. Investors that by nature I have come to identify as highly speculative risks takers. Why not, when the current market conditions in Sydney is hot and Sydney is seeing as a safe haven politically and with respect to property?
Ove the last 18 months I have been a witness to properties sold to OI with commissions as high as 8-10% and with these attractive rewards, the agents have made sure the projects are sold in record time. With the high returns developers and builders are achieving, comes (in some but not all cases) the temptation to lodge what is known as a Section 96.
A Section 96 is a variation to the building, primarily to increase the unit lots in the project. With the current property climate, the temptation is for developers and builders to cut corners in the construction phase.
Is it any wonder that when builders lodge the section 96s for variations, major changes to the unit complex come to the point where there are reports of units disappearing to make room for more car spaces, as commented on Radio 2UE a few weeks back.
However, this discussion fails to consider the real estate agent’s duty of care to the purchaser, as well as his client, the vendor.
The key to this is the solicitors acting for the purchasers. They have a duty to be on side of the purchaser and to be thorough and act swiftly when required. Once again in some cases but not all, the solicitors acting for the OI purchasers have the same unique relationships with the agents and developers.
Five tips on how to protect yourself when purchasing off the plan properties:
<ol>
<li>Insist all variation clauses in off the plan purchasing contract are looked at methodically. 
</li>
<li>Check proposed location of unit and car space and storage on proposed strata plan. Have these identified and signed off by vendor. 
</li>
<li>Carefully check that list of inclusions is detailed and very descriptive and not vague; 
</li>
<li>Discuss in detail what the tolerance percentage allowable for variations to unit size will be. Keep it as minimal as possible. Developers typically want a 5% variation. This could be the loss of a laundry or a linen cupboard, or even a bathroom.  
</li>
<li>Don’t accept the unit before completing an independent building inspection, done at your cost. Make the vendor aware this will take place as a condition of purchase. Builders will rely on their own reports and their foremen will not have the eye for detail, particularly when inspecting a hundred units or so. </li>
</ol>
{qtube vid:=m6E1os9ubA0}
YOU MAY ALSO LIKE TO READ:
<a href="/news/what-are-sydney-s-million-dollar-ghettos-and-where-are-they">What are Sydney’s “million dollar ghettos” and where are they?</a>
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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ealmedia-arK4DBYLjS

Five tips for protecting yourself when buying an off the plan property

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Is there a glass ceiling for women in real estate? Some will say yes, others will say no. We encourage you to have your say in the comments section and in the poll at the bottom of this post.
Just Think Real Estate’s Edwin Almeida took this question to Gai Waterhouse, legendary horse trainer and businesswoman, and <a href="/news/gai-waterhouse-springs-into-melbourne-apartment-high-society-title-tattle">purchaser of a Spring Street, Melbourne apartment</a>.
“It is perhaps only when you stand next to celebrated women, iconic celebrities, if I can put it this way, that you truly understand how tenacious and well-grounded such individuals are in their knowledge of the industry,” Almeida explains.
“The question asked of Gai Waterhouse was; is there a glass ceiling that sits above professional women, particularly in regards to the real estate industry?”
The simple answer she provided was that yes, for professional women there is a glass ceiling.
“However, women that want to make it in any industry and be the leaders breaking new grounds, need to approach this obstacle with determination to be the best and to continually chip away until you break through. Notably, Waterhouse’s insights is grounded in experience and as I said, her expert knowledge within the racing industry,” said Almeida.
He explained that observing Waterhouse quickly identified some of the skills behind her successes.
With Waterhouse engaging every guest that visited at the Sunday charity event, including the children, Almeida noted that real estate agents could learn a lot – particularly for their approach at an open home.
She gave this advice: “Know your market, know your product, know your industry,” Almeida explains.
You can see the full interview, or read it in the transcript, below.
{qtube vid:=2aoWKaAiQWg}
Transcript:
ALMEIDA: Welcome, my name is Edwin from Oz Real Estate TV and I am delighted to have Gai Waterhouse with us today. Thank you.
WATERHOUSE: Lovely to be with you. I’m very excited.
ALMEIDA: Gai has made a huge contribution to our inaugural competition to raise funds for Westmead medical research foundation. Gai, your prize on the night raised just over $3,000. Thank you.
WATERHOUSE: I’m glad you’ve come out today as it’s very important, firstly to raise money for charity. It’s such a worthwhile charity that you’ve personally had so much involvement with.
ALMEIDA: Gai, there’s a perception out in the real estate world that there’s a glass ceiling for female real estate professionals. I’m sure you have a lot to say about that. Is there a glass ceiling for any female professional?
WATERHOUSE: There is a glass ceiling, and I just say you keep on chipping away and you crack it and you make sure you get to the top. You’ve got to be very focused, you’ve got to be very determined in life and you’ve got to know what you’re doing and do it well. Every Sunday at the stables I open the yard for my owners and friends and people from charities, like you Edwin, to be here and to see exactly what we do behind the shutter door here on Kensington Street in Bowral, Sydney.
ALMEIDA: So, you’ve heard it from Gai, there’s the perception that there is a glass ceiling but you’ve got to chip away at it. Gai, I’ve written a couple of articles about the real estate industry being poised for female agents to take over the industry. The platform, the springboard is there, I’ve seen you do it in the racing industry, and I’m hoping that somebody of your calibre actually takes that platform on and takes on John McGrath.
WATERHOUSE: [Laughs] Well, John is a personal friend of mine. All I know is that if you know your product, you know it well and, importantly, you have the right product to sell – you’ve got to have the credibility, you’ve got to have the determination not to allow the sale to walk out the door. That’s the most important thing.
ALMEIDA: And the question I’m sure all the viewers are waiting for me to ask – what’s your tip for the weekend?
WATERHOUSE: My tip for the weekend… well, horses you should follow is a horse called Access Knowledge, which is a horse bought in England by Bruce Slade, a very exciting horse. I also like a horse called Almaha, he races in Queensland. He’s really exciting. A filly called Bay Rock runs at Randwick, she’s delightful and the cutest horse called PJ, we call it PJ like Pyjamas, Pajero, who runs on Monday over the long weekend – a very nice horse.
ALMEIDA: Well, I’m putting my money on PJ. Gai, thank you very much for your time. Thank you once again for your charitable heart and you’re an absolutely gorgeous woman. Thank you very much.
{module Do you think there is a glass ceiling for female real estate agents?}
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jduke-EHk3XBmHkn

Gai Waterhouse answers the question of the day: Is there a glass ceiling in real estate?

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GUEST OBSERVATION
A lot is being said about the standard rate of commissions dropping in recent months, where the average fees have dropped by up to 30%. This from an industry average of 2% rates over the sale price of the property to 1.7%. Is it a case of too many “agents spoiling the industry” or simply basic mathematics?
Property Prices
We have seen over the last 12 months double digit figures in the percentile rate of properties increasing in values across major capital cities.
Almost three years of capital growth with alarming figures in prices achieved another bench mark of what is happening in the property market. Some areas such as the outer western suburbs of Sydney ( such as <a href="/news">Mount Druitt</a>, <a href="/news">Hebersham</a>, <a href="/news">Lethbridge Park</a>, <a href="/news">Whalan</a> and <a href="/news">Bidwil</a>), have witnessed property values increase from $210,000 to $290,000. Valuations and prices sourced from our landlords. 
Now let’s look at the affluent areas making headlines such as; the Inner Western suburbs, Redfern and the North Shore Corridors. These areas that have been exposed to 20% to 35% capital growth in pricing.
Let’s do the maths
Lower priced properties last three years: Three bedroom home 
<ul>
<li>$210,000 x 2% = $4,200</li>
<li>$290,000 x 1.7% = $4930</li>
</ul>
Higher valued properties sample <a href="/news">Dulwich Hill</a> last three years: Two bedroom apartment
<ul>
<li>$530,000 x 2% = $10,600</li>
<li>$640,000 x 1.7% = $10,880</li>
</ul>
And if we look at median prices:
<ul>
<li>2010 median home values Sydney $633,200 x 2% = $12,664</li>
<li>Current median figures Sydney $781,000 x 1.7% = $13,277</li>
</ul>
What does a Vendor get for their commission?
The average time properties currently spend on the market is notably less. There is a push toward auction campaigns that run three to four weeks and the banter from industry 'specialists' is that if the home is on the market for longer than four weeks, the advertising is stale.
Summary
There is an incorrect assumption that agents deserve more for the work they do, and real estate agents need to pull their heads in. In fact, agents are being paid more although the commission rate may reflect a lower figure. Are agents giving any more for their want to earn more in fees? I believe not. If anything the push for vendor paid advertising throughout most major industry training seminars is actually costing vendors more.
There are approximately 53,000 registered real estate agents in NSW alone; an overcrowded industry with fewer experienced agents staying in.
We now have direct competition from mortgage brokers, financial planners and accountants as well as marketing companies assuming the role of the real estate agent when selling new properties.
Most of the industry is bidding for the custom of a reduced footprint of sales in the “secondary stock” space, the mum and dad homes.
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
Note: Edwin happily takes 1.5% commission on properties for certain clients as a commercial decision. Some use both his property management services and sell multiple properties through his business.
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Agents: Pull your heads in about commissions, you’re getting more, not less

<html><body>
GUEST OBSERVATION
It didn’t really hit me how many consumers take advantage of your non-traditional shopping institutions on a Sunday, until I just walked past a bank that’s open for trading.
I have been saying for a while now that Sundays has become the norm for some real estate offices to remain open. I have on many occasions held open home inspections on a Sunday both to: cater for the possible buyers that work on a Saturday and also due to the level of interest in the property.
At all times trying to achieve the most for the vendor, by allowing and accommodating for the “dream buyer” to come through.
Sundays is my new Monday I banter around the office and share with industry colleagues, as more and more of them seem to also have open house inspections on Sundays. This I believe to be truer with the independent offices rather than the franchise groups.
I do, however, recall working Sundays many years ago, with a RE/MAX office where I was employed. Different market conditions, in fact it was very flat.
The reason was not dissimilar to this hot property market, it was simply trying to accommodate for the ideal buyer. The buyer that would pay more but needed more time to inspect.
My surprise today, was nonetheless to see a bank open on a Sunday, and full for that matter; I counted at least five tellers serving and all busy.
Is this the changing landscape for commercial institutions that are predominantly centred in and around property?
What next, will we see conveyancing offices and law firms also opening up on a Sunday? 
On the one hand it does make sense if you want to maintain market share. On the other hand, make hay whilst the sun shines and get in early, especially with the record sales presently being reported.  
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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Edwin Almeida

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