<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

National

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RP Data’s statistics revealed four suburbs across Australia where the median price was listed under $100,000. 
Property Observer couldn’t help but ask “Why are they so cheap?”
Digging a little deeper, we decided to discover just why these median recording prices were so suppressed.
Of course, small regional areas – as these tend to be – are usually more volatile in their medians due to the infrequency of transactions, particularly when looking at units. Some of these areas have very few apartment blocks. Investors are always urged to understand what the median price is, and how it is affected by the type of properties that transact over a period. Here are four things to know about the figure before relying on it.
Some areas will be cheap due to their location - far from any employment hubs - while others will have a different makeup that ensures their prices are recorded low. There's a reason that you're unlikely to have heard of some of these four areas - they're not all bustling hubs that property investors are used to looking at. However, this doesn't mean they don't have their opportunities - while re-sale may be a tricky situation and something to consider, the yield figures are strong on paper and at least one listing seems to suggest that rental returns may be attractive.
<ul>
<li><a href="/news">Gin Gin</a>, Queensland: $41,000</li>
</ul>
The tiny rural township Gin Gin, about 48 kilometres inland from Bundaberg, is the cheapest across the country when looking at the area’s median price for units, according to RP Data.
Houses in the area were recorded at $216,000.
Current listings suggest that it may have been a month of cheaper sales for Gin Gin, with apartments on the market for around the $200,000 mark. The cheapest offerings are blocks of land from $33,500 – including some in an eco-park.
According to the 2011 Census, the suburb of Gin Gin had just 157 people, while the state significant area had around 5,000.
It seems that infrequent sales are skewing the median - with just seven recorded by RP Data to calculate their most recent median.
<ul>
<li><a href="/news">Mission Beach</a>, Queensland: $69,000</li>
</ul>
Tourist township Mission beach in the Cassowary Coast Region is the lowest priced beachside apartment currently listed at $150,000.
The median house price is set at $342,000.
Property Observer did find a number of $60,000 sales on Sandy Close and Iluka Close for blocks of land that had been tagged as units over June and July that may have skewed the median. There was also a $50,000 sale on Sandpiper Close. These appear to be part of Oasis Mission Beach – Iluka Close was part of Stage Two.
Again, just five sales were recorded for Mission Beach units. It appears that this figure is highly unusual, and not indicative of what you'd be paying for a unit - with a gross rental yield statistic at 25.34% and rent at $335 per week (which aligns with what is currently seen in rental listings), it was a struggle to find a unit under $100,000 that would return this figure.
As a state suburb, the 2011 Census recorded just 765 people in residence
<ul>
<li><a href="/news">Risdon Park South</a>, South Australia: $84,000</li>
</ul>
It appears that sub-$100,000 options are certainly on the cards for those looking to buy in Risdon Park South’s surrounding suburbs in <a href="/news">Port Pirie</a>.
At present no listings for the immediate Risdon Park South area were found. Current listings include an $89,900 “maisonette home” or three-bedroom, one-bathroom unit in Port Pirie. However, it is under offer at the moment.
Meanwhile, also in Port Pirie, a one-bedroom, one-bathroom offering for $99,000, which markets itself to investors or retirees, is available.
Port Pirie is the larger township, and as of the 2011 Census Risdon Park South was home to 1,975 people.
It seems a number of duplexes, including one on Hutchinson Street for $75,000 and one on Plenty Street for $80,000, may be keeping the median price down. One property listed in the area, for $85,500, is a solid brick maisonette offering.
In total, 12 unit sales were noted by RP Data. They recorded the median house price at $275,000.
<ul>
<li><a href="/news">Hamilton</a>, Victoria: $85,000</li>
</ul>
Currently, in Hamilton, there is one listing under $100,000 – a one bedroom, one bathroom flat asking for $95,000 on Moore Street, currently rented at $120 per week. Two-bedroom units span from $122,000 upwards.
Hamilton’s median house price sits at $197,000.
Located 300 kilometres west of Melbourne, or a three to four hour drive, it’s best known as a sheep grazing and agricultural area, however as a state suburb is recorded as housing 10,104 people in the 2011 Census data.
Just 12 unit sales were recorded. Suggesting a 13.46% gross rental yield, on $220 weekly median advertised rent for units, it appears that while in reality the yield may still be strong - you'd be looking for closer to the $200,000 bracket in a purchase to achieve the $220 rent.
Keen for more data? You can peruse our free suburb data here.
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jduke-EHk3XBmHkn

Why so cheap? The four suburbs with median unit prices sub $100,000

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BIS Shrapnel forecasts that only Brisbane and Sydney will experience house price growth after adjusting for inflation over the next three years.
However Brisbane is tipped to be the boom city, with BIS Shrapnel forecasting 17% nominal growth which would be around 8% after inflation.
Sydney prices are expected to climb over the next two years before declining in 2017, resulting in a 10% nominal gain over the three year period reflecting a 1% real gain. 
The Sydney and Brisbane growth will be underpinned by tight housing supply.
Meanwhile the Melbourne market continues to face challenges, including a subdued manufacturing sector, so BIS says its property prices will rise by just 8% in nominal terms, thereby being a 1% decline in real-terms between now and 2017.
<img src="/images/2014/06/24/bis-june-24-one.jpg" alt="">
Overall the national momentum in price growth that emerged in 2013/14 is expected to continue to support prices in 2014/15 and to a lesser extent in 2015/16, however, rising construction and the potential for oversupply in many markets, together with an eventual tightening in interest rate policy, will potentially create conditions for price declines by 2016/17.
According to BIS Shrapnel’s Residential Property Prospects, 2014 to 2017 report, tight markets and low interest rates have been the catalyst for the strength in the Sydney, Melbourne, Perth and Darwin markets over the past 12 months, as well as an emerging upturn in Brisbane. 
In the other capital cities, low interest rates have been helping to support stronger purchaser activity, if not stronger price growth.
BIS Shrapnel senior manager Angie Zigomanis, says that although prices have been rising in a number of capital cities, affordability at current interest rates are sufficiently attractive to maintain further price growth for now. 
"Rising construction pipelines have not yet worked their way through to completion and therefore supply, so pressures in most markets still remain.
“The current standard variable rate of 5.95% is, outside of the GFC emergency low interest rates in 2009, the lowest level in over 40 years.
 “As a result, affordability in most capital cities remains at early-2000s levels, which should be supportive of price growth.
“The low interest rates have had minimal impact on first home buyer demand, which has weakened considerably as state governments have removed incentives for established dwellings in favour of targeted incentives for new dwellings. 
"However, this weakness has been more than compensated for by the strength of ‘next time buyers’ and investors. 
"Population growth has also experienced a surge as net overseas migration increased from a low of 180,200 in 2010/11 to 244,400 in 2012/13, with the subsequent rise in rental demand also placing pressure on many capital city markets and helping to underpin price growth.”
These conditions are expected to continue to support prices over 2014/15 in light of relatively muted economic conditions as the economy transitions from being driven by resource investment to being driven by consumption and business and residential investment.
But the report warns of rapidly weakening economies in Western Australia and the Northern Territory – as mining investment is wound back – with slowing price growth in Perth and Darwin. 
"With limited dwelling deficiencies, or oversupplies, the markets in South Australia, Tasmania and Australian Capital Territory are expected to remain relatively flat."
Brisbane’s estimated median house price of $475,000 in June 2014 represents an eight% increase for the year.
"From a fundamental perspective, things are improving in the Brisbane market," Angie Zigomanis says.
He noted new dwelling construction had fallen below underlying demand in the Queensland market in recent years and an underlying deficiency of dwellings has emerged, with vacancy rates in Brisbane of 2.3% in March quarter 2014. 
"Brisbane’s median house price at June 2014 is seven% below its June 2010 peak in real terms, which together with the low interest rate environment has resulted in affordability being at early-2000s levels.
"This is all beginning to have an impact on purchaser sentiment, with upgrader and investor demand increasing and encouraging price rises.
“The pieces are falling into place for the Brisbane residential market to continue to strengthen,” said Zigomanis.
 “However, the pace of price growth is likely to be moderate, with economic conditions still relatively subdued and net interstate migration inflows are at low levels.”
BIS Shrapnel forecast single digit price growth of seven to eight% per annum is forecast over 2014/15 and 2015/16 as purchaser activity continues to strengthen. 
A corresponding increase in new dwelling construction should also contribute to stronger economic conditions, particularly with a sizeable underlying dwelling deficiency expected to still be in place. 
The forecast peak in interest rates is expected to slow price growth by 2016/17, although price declines are not expected given the presence of an undersupply of dwellings.
A total rise of 17% in the Brisbane median house price is forecast over the three years to 2017, representing an average rise of 5.3% per annum.
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jchancellor-FAypfDUnLy

Brisbane houses have best prospect over next three years: BIS Shrapnel 

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Some of Australia’s top business people will sleep out tomorrow night to raise awareness and funds to combat homelessness at the <a href="https://www.ceosleepout.org.au/" target="_blank">Vinnies CEO Sleepout</a>.
Since the first Vinnies CEO Sleepout in 2006, the event has raised over $13 million in funds for Vinnies Homelessness Services. Fundraisers are encouraged to wear warm clothing, a sleeping bag and pillow. Vinnies will provide cardboard for them to sleep on or to construct a shelter, and a basic meal of soup, bread rolls, tea and coffee.
Some of the highest fund raisers this year include:
<ul>
<li>Holly Kramer of Best &amp; Less, who has so far raised $150,093</li>
<li>George Frazis of St George Banking Group, who has so far raised $98,650</li>
<li>Dale Alcock of ABN Group, who has so far raised $95,590</li>
<li>Barry Falstead of Crown Perth, who has so far raised $74,595</li>
<li>Malcolm Turnbull, Minister for Communications, who has so far raised $58,127</li>
</ul>
Education Minister Christopher Pyne will also be sleeping out tomorrow night, in South Australia. So far, he’s raised $2,631 of his $5,000 donation goal.
Fundraisers in the Australian Capital Territory, who include Defence Housing Australia boss Peter Howman, will be contending with the coldest conditions. The ACT is expecting a low of 2 degrees Celsius for the night.
This year, fundraisers in Sydney will be sleeping at Everleigh Market at Carriageworks. There will also be a Sleepout event in Newcastle and Wollongong.  Last year, $2.1 million was raised by New South Wales fundraisers. Participants in Victoria will be staying at Etihad Stadium.
Western Australian CEOs will be attempting to sleep rough for one night at WACA.
Northern Territory bosses will be staying at the Fannie Point Gaol in Darwin and the OLSH College in Alice Springs. St Vincent de Paul National chief John Falzon, who will be sleeping in Darwin, says that hosting the event at the Fannie Point Gaol will draw attention to structural inequality.
“This venue holds many stories of dispossession and exclusion. Holding the CEO sleepout at the Gaol highlights the tragic link between homelessness and the prison system,” says Falzon.
“People experiencing homelessness and disadvantage are often more likely to end up in prison and people released from prison are more likely to end up homeless.”
Fundraisers from Queensland are set for the Courier Mail Piazza in Brisbane, with South Australian participants at Government House. Tasmanian bosses will be at the Hobart Showgrounds.
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jrichardson-uRX5hFdKfN

Some of Australia's top CEOs set to camp out for Vinnies Sleepout

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Sydney’s inner and beachside suburbs, along with Darwin and Bunbury in Western Australia, boast the country’s lowest unemployment rates, <a href="https://www.theage.com.au/business/the-economy/sydneys-inner-city-joins-darwin-and-bunbury-with-lowest-unemployment-rates-20140612-3a0dg">Fairfax</a> reports.
While the national unemployment rate remained steady in May at 5.8%, rates for individual cities, suburbs and towns differ markedly.
The Sydney CDB, along with its eastern and inner-southern suburbs, hold the nation’s lowest unemployment rate at 2%, followed by Sydney’s northern beaches, Darwin and Bunbury at 2.3%.
Meanwhile, Ipswich in Queensland, south-eastern Tasmania and western NSW rank among the toughest places to find work.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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po-LsXgBTHBmX

Sydney’s inner and beachside suburbs have the lowest unemployment rates

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<div class="section">
The proportion of loss making real estate re-sales has peaked, according to the latest RP Data report covering 64,518 residential property resales nationally over the first quarter of 2014. <div class="layoutArea">
<div class="column">
Nationally 9.8% of all homes which sold over the three months to March 2013 incurred a gross loss, just a tweak above the 9.7% in the December 2013 quarter.
It compared with a recent peak of 13.1% of re-sales over the three months ending January 2013.
With around 6.5% of all capital city re-sales recording a gross loss, capital city have had a lower proportion of loss making re-sales than the national average since early 2009.
The report coincides with record lows for subprime RMBS housing loans, as measured by Standard &amp; Poor's Performance Index (SPIN).
<img src="/images/2014/06/16/pain-june-16-one.gif" alt="">
Source: RP Data
The lowest proportion of loss making re-sales were in Sydney at around 3%.
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Over the three months ending March 2014, 6.5% of all capital city re-sales recorded a gross loss compared to 16.0% of sales at a loss across the combined regional areas. Loss-making re-sales are down from 9.4% a year ago across capital cities and down from 18.2% in regional markets. 
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Huge loss making re-sales are being recorded within the regional Queensland marketplace and in Tasmania.
Queensland’s Wide Bay region has recorded the largest proportion of loss making resales, with 30.6% of all March 2014 quarter re-sales transacting at a price lower than what the home was purchased.
The weakness in these two regions is mostly reflective of the conditions across the lifestyle markets where the correction in home values has been more significant, Tim Lawless at RP Data has previously advised.
Of those homes sold at a loss across Australia, those held for a short period of time have been more susceptible to loss despite home values having risen over the past year.
<img src="/images/2014/06/16/pain-june-16-two.gif" alt="">
Source: RP Data
Around 12% of owners who purchased and sold in the same year, sold at a gross loss, the RP Data Pain/Gain report noted.
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"Keep in mind that the actual number of homes re-sold in less than a year is very small," Tim Lawless noted earlier this year.
But a greater proportion of loss making sales has occurred across those homes re-sold after three to five years (19.4%). 
"If an owner wishes to double their initial outlay upon re-sale they generally need to hold the home for at least a decade," Tim Lawless advised earlier this year.
The December quarter report showed 55.1% of homes re-sold between 10 and 15 years after purchase sold for double the purchase price and 95.1% of resales after 15 years were for more than double the initial purchase price.
The gross value of losses on homes re-sold over the March quarter was recorded at $381.1 million and the average gross loss per loss making transaction was $60,544.
Some 90.2% of all re-sales over the March quarter of 2013 transacted at a gross profit, with 30.6% of all re-sales at least doubling their money compared with their original purchase price.
The gross profit on these re-sales was $12.2 billion and the average gross profit per profit making transaction was $225,088.
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Sydney at record low loss takers, with Queensland's Wide Bay the worst: RP Data

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Median prices rose overall over the March quarter, according to the Real Estate Institute of Australia (REIA) and the Bendigo Bank’s quarterly review.
The weighted average capital city median price rose by 1.9% for houses and 1.7% for other dwellings, including units and apartments. According to the REIA and Bendigo Bank’s figures, the weighted average median price for houses in Australia’s capital cities is now $606,517.
The price growth was much less acute than that seen in the first quarter of last year, where the weighted average median price for houses increased by 13.1%.
For the year to March 2014, Median house prices rose across all capital cities but Brisbane and Perth. Hobart saw the biggest price rise, with its median house price up 4.1%. It maintained the lowest median house price across the capitals at $385,000. Brisbane’s median  house price dropped 1.1% over the quarter; Perth’s dropped by 1.6%.
Sydney’s median house price remains the highest among all eight capitals at $782,973, up 3.1% for the quarter. Melbourne’s median house price rose by 3.7% over the same period to $652,500.
Non-house dwellings like apartments and units in the capital cities sat at a median price of $483,320.  Darwin saw an 18.0% increase in the median price of its non-house residences for the quarter to $525,000. Sydney and Melbourne’s median non-house residence prices also increased in the same period. Median prices for similar properties were down for the quarter in Canberra, Adelaide, Hobart and Perth.
Median rents for two bedroom units and other non-house residences increased in Sydney, Melbourne and Brisbane over the quarter to March, while they decreased in Perth and Darwin. Rental rates for Adelaide, Hobart and Canberra remained static. However, the median rent for a “two bedroom other dwelling” in Canberra was down by 6.8% from the same time last year. 
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Residential prices up overall in March quarter: REIA

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First home buyer grants aren't available for every first time buyer and there are many hoops that need to be jumped through. One of these hoops is buying a property that fits under a certain dollar value threshold.
Here are those cut off points across the country.
For more information as to which properties are eligible for a grant (the majority of offered grants are now for new builds only) you can <a href="/expert-insights/buying/the-national-guide-to-first-home-buyer-grants">see our state-by-state round up here</a>.
For those who aren't first time buyers, here are <a href="/expert-insights/investing/grants-for-non-first-time-buyers-a-state-by-state-guide">the other grants on offer around the country</a>.
AUSTRALIAN CAPITAL TERRITORY
Total value of eligible properties (home and land): $750,000 cap
Has applied since 1 September 2013.
Note: The new Over 60s Home Bonus Scheme has a cap of $764,999
NEW SOUTH WALES
At present, the cap for homes is $650,000.
For land, the cap is $450,000.
However, pre-budget announcements have <a href="/expert-insights/building/nsw-first-home-buyers-can-buy-up-to-750-000-under-extended-fhog">confirmed that this will now be increased to $750,000</a>.
NORTHERN TERRITORY
$600,000​ (established homes only)
QUEENSLAND
$750,000
SOUTH AUSTRALIA
$575,000
Note: The housing construction grant has a $450,000 cap.
TASMANIA
No limit.
VICTORIA
$750,000
WESTERN AUSTRALIA
$750,000
Or, if the home is north of the 26th parallel, then $1,000,000 or less.
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First home buyer price thresholds: The cut offs you need to know

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A preliminary weighted average clearance rate of 59.9% was recorded this week across capital cities compared to 66.4% last week and 61.4% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Capital-city.jpg" target="_blank"><img class="aligncenter size-large wp-image-3346" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Capital-city-580x436.jpg" alt="RP Data National Auction Comment - Capital City" width="580" height="436"></a>
This is well below the year’s high of 76.2% recorded in late February, however comparatively low volumes this week reduce its value as an indicator to the state of the market.
In the Sydney market a preliminary clearance rate of 65.7% was recorded compared to 73% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Sydney.jpg" target="_blank"><img class="aligncenter size-large wp-image-3347" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Sydney-580x391.jpg" alt="RP Data auction comment - Sydney" width="580" height="391"></a>
In Melbourne there was a preliminary clearance rate of 61% recorded compared to 65.4% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Melbourne.jpg" target="_blank"><img class="aligncenter size-large wp-image-3348" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Melbourne-580x386.jpg" alt="RP Data auction comment - Melbourne" width="580" height="386"></a>
In Brisbane a preliminary clearance rate of 42.9% was recorded compared to 42.5% last week. Adelaide recorded a clearance rate of 63% compared to 55.3% last week. In Canberra a clearance rate of 50% was recorded and in Perth there was a clearance rate of 33.3%. In Tasmania four homes sold from 17 auctions.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Brisbane.jpg" target="_blank"><img class="aligncenter size-large wp-image-3349" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Brisbane-580x386.jpg" alt="RP Data auction comment - Brisbane" width="580" height="386"></a>
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Adelaide.jpg" target="_blank"><img class="aligncenter size-large wp-image-3350" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Adelaide-580x393.jpg" alt="RP Data auction comment - Adelaide" width="580" height="393"></a>
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Low auction volumes across capital cities: RP Data's national auction wrap

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Australia's skyline is changing, with residential and mixed-use (including residential) highrises being built at a significant rate. While in some cities this is more prominent than others, some records are being broken and others are being tiptoed around.
Here are the current tallest towers that include some aspect of residential, and those set to take their titles, across Australia.
ACT
In Belconnen, Geocon’s 88 metre tall <a href="https://geocon.com.au/property/847-belconnen/%20" target="_blank">Wayfarer Apartments</a> (pictured below), a new 27-storey offering, hit the market earlier this year.
<img src="/images/2014/06/10/wayfarer%20jun%2010%20one.jpg" alt="">
Bringing 235 apartments to the market, it was revised down in height in 2013 after community concern. The new development will be located at 120 Eastern Valley Way.
It has over 150 apartments sold, with two-bedrooms and study/media room properties from $564,900, and three-bedroom apartments from $569,900.
Completion is due in late-2016.
It will take the title from nearby Sentinel Apartments, a 62 metre 2013-built offering of 20 storeys. Also in Belconnen, it is a creation of developer Morris Property Group and finished late last year.
NEW SOUTH WALES
Today, a $25 million state of the art creative hub – which is said to feature dance, theatre, music, film and visual arts facilities – has been launched on Bathurst Street. According to official information, the building is “set to be” the tallest residential tower on the street, called Greenland Centre. As reported yesterday, an offshore buyer is looking to <a href="/news/offshore-25-million-greenland-centre-sydney-penthouse-sale-prospect">snap up and combine three of the upper-level penthouses for $25 million</a>.
<img src="/images/2014/06/10/greenland_0003_Greenland%20creative%20hub%20windows.jpg.jpg" alt="">
The soon-to-be-built 115 Bathurst Street is set to be the tallest tower on the skyline, with Kannfinch explaining that it is a 4,000 square metre site with a retail and commercial podium. It will offer 70 residential levels, or 420 apartments, and will integrate with 339 Pitt Street.
Kannfinch, on behalf of Brookfield, organised the stage one development approval.
Pedestrian laneways have been introduced at ground level.
<img src="/images/2014/06/10/greenland_0002_Greenland%20creative%20hub%20exterior.jpg.jpg" alt="">
The building will sit at 240 metres in height, and will be “Australia’s most slender tower”.
It just about takes the title from <a href="/expert-insights/building/brookfield-secure-approval-for-slimline-sydney-tower-development-to-be-city-s-tallest-residential-high-rise">Meriton’s 230 metre tall 2004-built World Towe</a>r.
Western Sydney will also soon see themselves with a new tallest structure – <a href="/news/the-tallest-residential-tower-in-western-sydney-one-australia-avenue">One Australia Avenue</a> (pictured below)– at 30 storeys high or 106 metres tall. It will include 300 apartments and expects mid-2015 completion.
<img src="/images/stories/2013/01/oneaust2.jpg" alt="oneaust2">
<img src="/images/stories/2013/01/oneaust.jpg" alt="oneaust">
And Parramatta is also eyeing up the trend, with developers vying for the title for some time. In April, Property Observer noted that a new development application for the <a href="/expert-insights/buying/development-application-submitted-for-one-of-parramattas-tallest-towers">$250 million Riverside Tower at 53 levels</a> (pictured below) may surpass V by Crown, which currently holds the tallest title.
<img src="/images/2014/04/10/parramatta-april-10-one.jpg" alt="Development application submitted for one of Parramatta's tallest towers">
Article continues on next page. Please click below. 
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QUEENSLAND
In Brisbane, a 90-storey CBD tower (pictured below) has been approved by the council with <a href="/expert-insights/investing/brisbane-tower-set-to-be-third-tallest-in-australia-and-loom-over-harry-triguboff-s-soleil">expectations for completion next year</a>.
<img src="/images/stories/flexicontent/l_111.jpg" alt="Brisbane tower set to be third tallest in Australia and loom over Harry Triguboff’s Soleil">
Billbergia is behind the 274 metre tower, and it will be 31 metres above Meriton’s Soleil tower.
With two towers, the larger will be a mix of commercial and residential, including a 380-room five-star hotel, and 800 apartments.
<img src="/images/stories/111inside.jpg">
However, the top title is still with 322.5 metre tall Q1 on the Gold Coast (pictured below). It remains notable for a $9 million apartment sale, which was resold at a later date for $7.7 million.
<img src="/images/stories/flexicontent/l_q12.jpg" alt="The taller they are, the harder they fall: Q1 prices falling steeply from boom-time Surfers Paradise highs">
VICTORIA
The 297 metre Eureka tower in Southbank (pictured below), built in 2006, remains unsurpassed. The 91 storey building pushed 120 Collins Street off the list at the time of creation.
<img src="/images/2014/06/10/eureka%20june%2010.jpg" alt="">
At present, there remain no contenders looking to take the crown.
WESTERN AUSTRALIA
The upcoming <a href="/news/wa/finbar-announces-tallest-tower-in-western-australia-as-east-perth-abc-site-redevelopment">Concerto building, as part of Finbar’s Symphony City redevelopment</a> at 193 Adelaide Terrace in East Perth, will become the tallest building.
<img src="/images/stories/2014/03/05/east-perth-march-5-one.jpg" alt="east-perth-march-5-one">
It will include 226 apartments and 38 levels, and is expected for 2017 completion.
It now has development approval and is expected to launch mid-2014.
TASMANIA
While the tallest Tasmania building is Wrest Point Casino, it appears the tallest residential title is Empress Towers, also known as “Battery Square Apartments”. It’s 42 metres high and covers 12 floors, and was built in the 1960s.
<img src="/images/2014/06/10/battery-point-june-10-one.jpg" alt="">
Property Observer hasn’t yet heard of any taller developments planned.
SOUTH AUSTRALIA
In late-2012, plans were being created for the potential next tallest residential building in Adelaide from developer Datong.
Located on the corner of both Flinders Street and Pulteney Street, the plans were initially for a 39-storey 135 metre tall tower. Now the tower is slated to be 110 metres tall and is expected to be mixed-use, including residential apartments. The Development Assessment Commission has now approved the ‘Palumbo Building’ as it is to be called.
It was initially expected that this would become the tallest in Adelaide of any type, a title currently held by Westpac House, however it appears that it will just miss this title. At present, King William Tower at 70 metres is the tallest residential opportunity.
NORTHERN TERRITORY
The 2008-built Evolution on Gardiner (pictured below) is a 99 metre 33-floor creation from Sunbuild. It initially had 2006 stated as their completion expectation.
<img src="/images/2014/06/10/darwin-june-10-one.jpg" alt="">
At 8 Gardiner Street, prices ranged from $840,000 to $1.52 million.
While it appears some tall residential towers are under construction, none are looking to take the title from Evolution quite yet.
Other areas are slowly opening up for development, with height restrictions becoming higher in Alice Springs under 2010 changes.
What upcoming tallest-in-their-area residential creations have you heard about? Share your most and least favourites in the comments below.
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The tallest residential towers changing Australia’s city skylines

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Do you know what the median house price is for your capital? The results are in.
<ul>
<li>
$678,500 - Sydney</li>
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<li>
$560,000 - Darwin</li>
</ul>
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<li>
$555,000 - Melbourne</li>
</ul>
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$525,000 - Perth</li>
</ul>
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$520,000 - Canberra</li>
</ul>
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<li>
$448,000 - Brisbane</li>
</ul>
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<li>
$395,000 - Adelaide</li>
</ul>
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<li>
$345,000 - Hobart</li>
</ul>
<ul>
<li>
$545,000 - Combined capitals</li>
</ul>
Source: RP Data May index 2014 results
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