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Australian tourism operators have given a bullish assessment of the industry in the latest TTF-Mastercard Tourism Industry Sentiment Survey, with the sector’s performance in the December quarter at the highest level ever recorded for the survey.
Industry operators have cited the <a href="https://www.smartcompany.com.au/growth/economy/35937-rba-wants-a-lower-aussie-dollar-but-will-this-help-smes">easing value of the Aussie dollar</a> and the <a href="https://www.smartcompany.com.au/leadership/strategy/35935-tourism-industry-set-for-a-boost-as-international-students-granted-transport-concessions">continued increase in tourism numbers</a> from Asia, especially China, as key factors for the upbeat assessment.
The potential for tourism growth from the Indian market was also highlighted in the survey, with visa reforms, tourism marketing and air access identified as critical factors in cracking the emerging pool of Indian middle-class travellers.
Transport Tourism Fund chief executive Ken Morrison said the survey showed the industry was in good shape, with a lower Aussie dollar helping to boost overseas visitor numbers and making Australia a more affordable destination.
“Respondents rated the tourism industry’s performance in the December quarter at record levels, with the international performance index at 139 and domestic performance at 125, both well above the average for this time of year and the highest since the survey’s inception,” Morrison said in a statement.
“The TTF-MasterCard Tourism Industry Sentiment Survey backs up recent tourism data showing that international visitation continues to rise and that domestic overnight visitors are spending $1 billion a week around the country.”
Tourism operators are less worried by currency exchange rates than they were last year, with only 37% of respondents in the new survey saying it was an issue, compared to 53% for last year’s December quarter survey.
However, operators cited increased concerns about a shortage of skilled labour (up 8% from last year), inadequate room supply (also up 8%), and Australia’s reputation as a desirable tourist destination (up 6%).
Morrison said another key concern was the liberalisation of visa requirements for overseas tourists. He said this was especially important if Australia wanted to grow its share of visitors from emerging markets such as India, which was now seen as a huge and largely untapped market for Australian tourism operators.
“Visa reform is seen as the top priority to help grow visitation from India, with tourism marketing and air access the next most critical issues,” Morrison said.
“More broadly, visa reform is also seen as a key issue by the industry, especially moving to online processes in a range of languages, along with the cost of applications and the provision of multi-year visitor visas.”
Australia India Travel and Tourism Council chairman Sandip Hor told SmartCompany making the visa process easier for Indian tourists would bring Australia in line with the Indian government’s recent move to implement a streamlined visa-on-arrival program for Australian tourists.
“If the visa process is streamlined and made easier then it attracts more tourists; the tour operators love that. They say [to potential clients] that going to this country is very easy from getting a visa point of view,” Hor says.
He says Indian tourists often thought getting a tourist visa for travel to Australia was more difficult than for places like the USA, where Indian tourists had traditionally travelled in greater numbers.
“It is perceived in India that getting a visa to Australia is a difficult process – perceived.”
Hor says Australia had much to offer Indian tourists, especially beyond the two biggest cities, Sydney and Melbourne, but this was perhaps not being adequately communicated to potential tourists.
“The image of Australia that is seen overseas is often the Opera House, the Harbour Bridge and the Great Ocean Road, but Australia is a very big country and I think the entire nation has to be exposed. For example, Uluru, I hardly see it [in marketing material].”
Hor says a more evenly spread focus on attractions other than those in New South Wales and Victoria would help Australia appeal to tourists looking for different things from their travel experience, as well as relieve pressure on infrastructure and hotel room supply in Sydney and Melbourne.
This edition of the survey is being launched as Tourism &amp; Transport Forum members gather at Parliament House in Canberra for Leadership 2014, TTF’s dialogue with the federal government and opposition on key issues facing the tourism, transport and aviation sectors.
The top five business impediments cited by survey respondents are:
<ul>
<li>Exchange rate (37%)</li>
<li>Reputable as a desirable tourist destination (30%)</li>
<li>Inadequate room supply (30%)</li>
<li>Shortage of skilled labour (28%)</li>
<li>Taxes and charges on tourists (25%)</li>
</ul>
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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Lower dollar has Australian tourism operators smiling: Tourism industry survey

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Internationally renowned hair stylist Christiaan Georgio is opening his first hair salon in Melbourne.
The Melbourne born stylist has secured 71 square metres of retail space at 123 Collins Street, on a gross rent of $1,408 square metres. The lessor is the Grand Hotel Group and the lease is for eight years, effective from 1 March.
The lease was negotiated by Colliers International's Ben Tremellen.
“This deal is the result of a targeted approach to leasing by Colliers International, focusing on a high end retailer to complement the hotel driveway,” Mr Tremellen said.
The new signature salon is the latest addition to Mr Georgio's international portfolio, which includes a number of luxury hotel groups including The Portman Shangri-La, Grand Hyatt Mumbai, The Peninsula Manila, and the Island Shangri-La Hong Kong.
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Christiaan Georgio likes the cut of Collins Street store lease

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GUEST OBSERVATION
The GFC impacted employment growth in all capital city markets — at the metropolitan level, the rate of employment growth slowed sharply, whilst in all CBD markets with the exception of Melbourne, employment actually fell.
The chart below shows the comparative growth in stand alone office employment amongst Australia’s major capital city markets up to and since the GFC. It highlights the sustained growth in employment that has occurred across Perth over the past 20 years and, most notably, the extraordinary boost to employment in stand alone office workforce — that is, people that work in freestanding office buildings — that occurred across the metropolitan region from mid 2011 to December 2012 associated with the mining investment boom. But, as highlighted in the chart, office employment in Perth has stalled over the last year.
Chart: Metropolitan stand-alone office workforce by city, index 2008=100
<img src="/images/2014/03/19/taylor%20march%2019%20one.jpg" width="460">
The recovery in employment across Australia’s major capital cities since the GFC has varied markedly, with growth to December 2013 ranging from just under 4% in Adelaide to almost 33% in Perth. The next closest rival, Melbourne, has seen growth of close to 17% over the same period, although the past two years have been weak. Brisbane and Sydney have achieved just 7.4% and 8% growth respectively — indeed, we’ve been waiting some time for the long-expected recovery in employment within Sydney.
Over a longer term horizon, after Perth, the strongest growth in stand alone office employment has occurred in Brisbane and Melbourne. Like Perth, Brisbane has benefitted from major phases of mining investment, as well as having a broad-based state economy, underpinned by rapid population growth and expansion in the financial services and government sectors. Whilst employment growth stalled with the advent of the GFC, it was quick to recover—rising by 9% to June 2012. Since then employment has been impacted sharply by a combination of efficiency drives amongst both government and private sectors and the setback to mining investment.
Following the early 1990s setback to employment caused by recession in that State, Melbourne has witnessed sustained growth off the back of a number of ‘structural positives’ that saw the state economy often benefit disproportionately. Rapid population growth and the ready availability of reasonably priced residential land underpinned strong dwelling investment. Indeed the overall construction sector experienced strong, consistent growth. Office and white collar employment were underpinned by competitive office rents and a strong finance and business services sector. Most importantly, Melbourne sustained an office rental cost advantage relative to most other capital city markets through most of the post-2004 period when it was undergoing strong expansion of its office stock — due largely to the availability of low cost sites in Docklands.
By contrast, Sydney’s stand alone office workforce experienced its fastest period of growth during the 1990s and since then growth has lagged most other capital cities. Since the GFC employment accelerated during 2010, with an expectation that it would be sustained ,but stalled again during 2011 as global economic weakness, low levels of business investment and poor business confidence conspired to hold back employment growth. Most impacted was the key finance and insurance sector.
What will happen going forward? Over the next five years, we expect the eastern seaboard cities will witness the strongest growth in stand alone office employment, with Sydney set to lead the way, underpinned by growing momentum in the construction sector, stronger public sector investment and a steady improvement in the state economy.
Beverley Taylor is director of property with <a href="https://www.bis.com.au/" target="_blank">BIS Shrapnel</a>.
 
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All capital cities have seen post-GFC employment recovery

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GUEST OBSERVATION
With businesses and government organisations seeking improved efficiencies, better technologies and more staff mobility, business leaders are recognising that activity based working (ABW) can have a large and positive impact on both cost efficiencies and improved productivity. Currently, approximately 50,000 employees in Australia work in various forms of ABW, including large corporate organisations like JLL, NAB, ANZ, CBA, Macquarie Bank, Microsoft, Cisco and Suncorp. As large leases expire over the next decade and businesses look to move or renew, ABW will be front of mind and new space take-up is likely to be moderated by 15 to 20%.
ABW is a workplace strategy aimed at providing people with the flexibility to undertake workplace activities in a variety of settings that best suit those tasks. It is designed to foster optimum productivity and streamline the workplace for cost and environmental efficiencies. There are various forms of it, and it’s likely that take-up will remain different for companies based on their needs.
ABW is currently still in its infancy, with the proportion of office tenants already committed to an ABW format still very low. Sydney has seen more tenants embrace the concept than other Australian markets, but this still only translates to a small portion of total CBD stock. 
Many industry participants have enthusiastically embraced the concept and believe its importance and impact on the market will only grow over time. However there also remains some scepticism. As much as non-believers recognise elements of ABW will have a lasting impact on the market, they do not believe the concept will survive long term. Instead, they think it will morph into something else as market conditions change.
From a tenant perspective, the evidence suggests that ABW and space utilisation is currently high on the corporate real estate agenda. According to Jones Lang LaSalle’s recent biennial corporate survey Corporate Real Estate at a Cross roads: Cost vs Value, occupiers surveyed both in Australia and globally point to an increased focus on ABW. Of the 52 respondents surveyed, 76% stated they expected an increased focus on utilisation and density over the next three years.
In Australia, Sydney’s CBD is likely to be the most exposed market nationally to the trend, which reflects the prevalence of finance and insurance tenants in the market and of larger tenants more generally. Survey responses suggested that ultimately between 20 and 25% of Sydney CBD tenants would adopt ABW.
Some survey respondents felt that there was a high risk associated with ABW being implemented purely for cost savings. As such, ABW may be unsuccessful and unpopular if implemented without appropriate change management plans, IT investment or provision of enough common space.
Research shows employees who work in ABW environments feel positive about the new way of working. A separate survey conducted by JLL following our adoption of ABW showed 87% of staff believed (strongly agreed or agreed) the new ABW office design provides an attractive environment to work in and contributes to their productivity.
Regardless of the size of the eventual impact of ABW on the property market, the rate of impact will be relatively slow over a period of 10 to 15 years. As such, this slow steady impact will be relative indiscernible from other market factors over the next decade. While ABW can theoretically be undertaken in older existing buildings, the concept is more compatible with some of the benefits new modern office stock offers. 
Rajiv Nagrath is director of corporate solutions with <a href="https://www.jll.com.au/australia/en-au" target="_blank">JLL</a>.
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Activity based working is here to stay

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GUEST OBSERVATION
No matter how many investment properties you have or plan to have, assessing your risk profile before you purchase is vital.
Your attitude towards risk may affect what types of properties would better suit you. Everyone will most likely have a different attitude towards risk based on their own situation and future goals. What may be considered a risky property by one may be considered a safe option by another.
However, if you don’t do your research and you’re not 100% sure what your comfort levels are, you may end up purchasing a property that will end up costing you financially and emotionally.
So how can you calculate how much risk you can handle? Firstly, your personality will play a part in establishing your risk tolerance. For example, if you have a more conservative nature and tend to worry more, your risk tolerance may be lower than someone who is more of a go-getter. Although it is important not to let your emotions affect your investing decisions, you should still know how much risk you can handle so you don’t lose sleep over your decisions.  
Some other factors that may affect your attitude towards risk include:
Personal life: Are you single, married or have kids? Do you have a stable career? These factors could affect how much risk you are willing to take on.
For example, if you have a family to provide for, you may opt to purchase a property in an area with a lower rental yield, but a strong occupancy rate, giving you the stability of constant rental income to help pay off the mortgage.
However, if you are single and are able to cover the repayments without the rental income, you may be more willing to choose an area that has a higher rental yield, but a lower occupancy rate.
Money habits: Whether you are a habitual saver or live from pay to pay, your approach towards money may impact your risk tolerance.
For example, your money habits may influence which strategy you choose to build wealth on your investment property. When purchasing a property, investors need to decide whether to focus on capital growth or the rental income.
Some property investors find rental income less risky as the property pays them more than it costs to own it<ins cite="mailto:Melissa%20Urquhart" datetime="2014-01-09T15:39"> </ins>and comes to you in regular instalments rather than a capital gain which can be unpredictable.
Past experiences: Having past investment experience may affect your attitude towards risk.
If you have had bad experiences or big losses, your tolerance for risk may be lower.
However, if you have managed to successfully get through rough times before; riskier investments may not bother you as much.
Income: If you have a solid, stable career with a regular income, you may be more willing to take on extra risk compared to someone who does not have a regular income stream.
For example, areas such as mining towns may be more appealing if you have a regular income as the rental income will be high, but you can still meet repayments if the property is vacant. 
Although it will be hard to find an investment without risk, there are ways to meet your investing goals with being exposed to too much danger. Some strategies include:
<ul>
<li>Choose mainstream property investments: If you are new to the property market, it is best to steer clear of ‘get rich quick’ schemes. It may promise fast returns, but if you don’t know what you are doing, you could get into trouble. Remember, if it sounds too good to be true, it probably is.</li>
<li>Manage your finances: One of the main risks of property investing is relying on the rental income to repay your home loan. Most rental properties will experience vacant periods, so it is important for investors to ensure they have enough surplus funds to cover these vacant periods.</li>
<li>Select an investment that suits your needs and goals. Property experts are regularly releasing information on the up and coming investment hotspots and although an industry expert’s opinion may be valuable, this information is generalised and doesn’t take your own personal circumstances into account. Think carefully about what your needs and goals are and then look at properties that match this.</li>
</ul>
An investment is a serious financial commitment that can be extremely costly if you don’t know what you are doing. Extensive research and speaking with professionals will help you make informed investing decisions and give you a better chance of building a successful portfolio. 
Heidi Armstrong is the CEO for <a href="https://www.statecustodians.com.au/home-loans" target="_blank">State Custodians Mortgage Company</a>. As an expert in personal finance, securitised lending and the mortgage industry, Heidi is passionate about educating borrowers to help them make smart lending decisions.
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How much risk can you handle? Assessing your risk profile

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After eight straight months of increases combined capital city dwelling values paused during February, according to the RP Data-Rismark home value index.
RP Data's national research director, Tim Lawless, said that despite the lax results in February, dwelling values were still up across the past quarter, predominantly due to strong growth in December and January.
<img alt="rismark-march-4-one" height="234" width="470" src="/images/stories/2014/03/04/rismark-march-4-one.gif">
Source: RP Data-Rismark
Lawless said: "The quarterly movement across the capital cities index reflects the stronger readings from January and December where dwelling values were 1.2% and 1.4% higher respectively each month."
"The February market results are in stark contrast to earlier readings where capital city dwelling values moved 2.6% higher over the past three months.
"The likelihood is that the weak reading for February is an adjustment from the strong readings in December and January rather than the beginning of a flat to negative growth phase across the macro level housing market." 
According to Lawless, we may see further months of either contraction or stagnation ahead of us. Despite this, Lawless believes that it will take several consecutive months of these results until a confident assertion of a market slowdown can be delivered. 
“Our view is that housing market conditions will start to wind down later this year as affordability constraints and low rental yields dampen market conditions. Additionally, with a belief that mortgage rates are likely to start tightening later this year, it may help to quell some of the exuberance we have been seeing,” Lawless said.
Chief executive officer of Rismark International, Ben Skilbeck, noted that Sydney continues to be the star performer of the Australian property markets. Sydney dwelling values rose by 0.8% in February, contributing to a quarterly rise of 2.3% and a year on year increase of 14.1%.
“When looking at individual capital cities, the Sydney market has had a surprising run of nine successive month-end increase totalling 14.1%. In keeping with what other capital cities have experienced, we would have expected some dips along the growth trajectory over a nine month period,” said Skilbeck.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2014/03/04/rismark-march-4-two-big.gif" rel="shadowbox"><img src="/images/stories/2014/03/04/rismark-march-4-two-small.gif"></a>
Source: RP Data-Rismark
Despite the stagnant dwelling value growth, auctions continue to rattle along across the country's capital cities.
From the 2,680 auctions over the past week a clearance rate of 72.8% was recorded by RP Data. This represents a substantial increase upon the combined clearance rate of 61% recorded on the same weekend last year.
Commenting upon <a target="_blank" href="/news">the weekend auction action</a>, analyst for RP Data Shana Miller said that: "It will be interesting to see if continuing high clearance rates encourage a further increase in the number of capital city properties taken to auction, given that current volumes are already so much higher than at the same time last year."
<img width="470" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140302-Capital-city.jpg" alt="20140302 Capital city">
Source: RP Data
The top result of the week was at 2 Lodge Road, Cremorne in Sydney, where a waterfront five bedroom house sold for $5.5 million.
Dubbed 'The Cremorne Resort', the property with a swimming pool, boatshed and  meandering gardens leading up to the water's edge, was marketed as "a very tightly held deep waterfront holding on one of Sydney's premier waterfront streets".
{yoogallery src=[images/stories/2014/03/04/cre]}
Despite the excellent result in Cremorne, a Canterbury, Victoria property had <a href="https://www.propertyobserver.com.au/news/patchy-results-along-the-so-called-golden-mile-of-canterbury/2014030367281?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=jonathanchancellor%27spropertyinsights" target="_blank">the chance to take top place on the list</a>.
Silchester, at 106 Mont Albert Road, Canterbury (pictured below), was listed with $6 million plus hopes but was passed in at $6.02 million at weekend auction.
There was just one bidder, according to the <a rel="nofollow" target="_blank" href="https://marketnews.com.au/auction-reviews/30812/106-Mont_Albert-Road-CANTERBURY/">James Buyer Advocates report </a>on Saturday's auction, for the property which last traded for $1.5 million back in 1993.
{yoogallery src=[images/stories/2014/03/04/can1]}
RP Data expeects that over the next week 1,402 auctions will take place in the nation's capital cities.
<img alt="rp_data_chart_2_march_4" height="107" width="470" src="/images/stories/2014/03/04/rp_data_chart_2_march_4.png">
 
Most expensive sales of the week ending March 2, 2014
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2_lodge_road_cremorne_nsw_2090/2000245">2 Lodge Road, Cremorne, NSW, 2090</a>, five-bedroom house, sold prior to auction on March 1 by Belle Property Mosman for $5.5 million  
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/27_denning_street_south_coogee_nsw_2034/6254652">27 Denning Street, South Coogee, NSW, 2034,</a> five-bedroom house, sold at auction on March 1 by McGrath Estate Agents for $4.301 million  
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/14_beach_street_blakehurst_nsw_2221/1477641">14 Beach Street, Blakehurst, NSW, 2221,</a> six-bedroom house, sold at auction on March 1 by McGrath Estate Agents for $4.15 million  
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/67_beaver_street_malvern_east_vic_3145/11585614">67 Beaver Street, Malvern East, VIC, 3145,</a> five-bedroom house, sold at auction on March 1 by Abercromby's Real Estate for $3.9625 million  
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/35_darling_point_road_darling_point_nsw_2027/2062430">35 Darling Point Road, Darling Point, NSW, 2027,</a> six-bedroom house, sold at auction on February 26 by Richardson &amp; Wrench Double Bay for $3.8 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/32_sargood_street_toorak_vic_3142/13588638">32 Sargood Street, Toorak, VIC, 3142,</a> four-bedroom house, sold at auction on March 1 by Marshall White Armadale for $3.675 million  
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2/18_carlotta_road_double_bay_nsw_2028/15989267">2/18 Carlotta Road, Double Bay, NSW, 2028,</a> four-bedroom house, sold at auction on February 25 by Laing + Simmons Woollahra for $3.54 million  
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/37_howitt_road_caulfield_north_vic_3161/10381144">37 Howitt Road, Caulfield North, VIC, 3161,</a> five-bedroom house, sold at auction on March 2 by Rodney Morley Persichetti Caulfield North for $3.5 million  
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/33_coppin_street_malvern_east_vic_3145/11588550">33 Coppin Street, Malvern East, VIC, 3145,</a> four-bedroom house, sold at auction on March 1 by Marshall White Armadale for $3.012 million  
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_wyoming_road_dural_nsw_2158/2164704">28 Wyoming Road, Dural, NSW, 2158,</a> five-bedroom house, sold on February 28 by Guardian Realty Dural for $2.9 million
jrobinson@propertyobserver.com.au
                 
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Despite auction heat dwelling values were tepid in February: RP Data-Rismark

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It’s ironic that fantasy home shows are the latest genre in reality TV, at a time when affordable housing is the real fantasy for many. The format is strangely addictive – photogenic twenty somethings compete for renovation profit on The Block; community hero gets surprise home makeover on Domestic Blitz; or charismatic real estate agents lead fussy house hunters around town on Location Location.
I’ve thought of a new show. Called Revolving Doors, it follows international students as they time share a bunk bed in a Sydney high rise sub-let; ageing parents wonder whether their thirty somethings will ever leave home; and a frantic family of five try to find an inner city rental.
We’ll hear real housing horror with a new Senate Estimates Committee <a target="_blank" href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Affordable_housing_2013/Terms_of_Reference">inquiry into affordable housing</a> due to report in June. The terms of reference span the roles of government and community housing providers, the effects of taxes and levies on home ownership and housing supply, and issues around sustainable design, innovative construction, and alternative funding mechanisms for affordable housing.
While the inquiry is welcome, cynicism has already set in. Economist Saul Eslake, former member of the axed National Housing Supply Council, has lodged a damning submission titled “<a target="_blank" href="https://www.prosper.org.au/2013/09/03/saul-eslake-50-years-of-housing-failure/">50 years of housing failure</a>”. He argues that tax benefits and grants for home ownership have inflated housing demand, while withdrawal of funding for public housing and infrastructure, have exacerbated supply pressures over time. This has meant housing preferences for established suburbs which have high accessibility to jobs and transport, but inherent supply constraints.
Consequently, numbers of new homes built has remained static over the past thirty years, rather than increasing in response to high housing prices. Nationwide, there is an estimated shortage of nearly 500,000 homes available and affordable for low and moderate income earners to rent or buy.
While around 51% of homes sold in Australia in 2003-04 were affordable to moderate income earners, this <a target="_blank" href="https://www.pc.gov.au/gsp/national-agreements/affordable-housing">slipped</a> to 34% in 2007–08 and 28% in 2011-12. Low income groups and those with complex needs – single parents, people with a disability, face particular housing stress and discrimination, while numbers of homeless have grown to over 100,000 people.
Still, some question the need for another government inquiry. The last Senate investigation on housing in 2008, generated over 100 submissions and comprehensive recommendations for taxation and planning system reform, affordable housing targets, adjustments to infrastructure funding, and wider efforts towards regional decentralisation.
What has happened since? Putting aside the major proposals around taxation reform, which continue to generate much talk and little action, there have been some successful policy experiments by all levels of government.
Just build it
Governments serious about housing supply in general and affordable housing in particular, know what to do. Nationally, the social housing initiative under the economic stimulus plan funded 19,700 new affordable homes between 2009-2012, sustaining construction activity during the GFC and providing a much needed boost to the sector.
The National Rental Affordability Scheme (NRAS) is another important supply initiative. With an initial budget commitment for 50,000 dwellings, the scheme subsidises new affordable housing construction, often within larger mixed tenure projects, through tax credits of A$10,000 per year over 10 years, provided the units are leased to eligible households at 20% below market rent. As market familiarity grows, the scheme has gained traction, supporting new collaborations between community and private sector housing providers.
Western Australia has committed to generating 20,000 affordable homes by 2020, partnering with industry and landholders to produce quality dwellings at a price point below A$300,000. For those low and moderate income earners needing finance or struggling to meet the “deposit gap”, its “Keystart” loan programs also allow purchasers to partner with the government in a shared equity scheme.
There is also a special program to deliver affordable homes for service workers in regional communities like the <a target="_blank" href="https://www.dhw.wa.gov.au/investorsandpartners/swa/Pages/default.aspx">Pilbara</a>, with 293 units about to be released in Port Hedland.
The ACT government supports affordable housing development through a number of products. A land rent <a target="_blank" href="https://www.economicdevelopment.act.gov.au/affordable_housing/land_rent">scheme</a> allows eligible buyers to build a house but pay only a percentage of land value, reducing the entry costs to home ownership. Design innovation and flexible planning for small lots is delivering affordable house and land packages for sale without additional subsidy.
With land in the ACT remaining in government ownership, the territory has committed to ambitious affordable housing targets. 20% of greenfield housing in the ACT must be affordable to low and moderate income earners, <a target="_blank" href="https://www.economicdevelopment.act.gov.au/affordable_housing/affordable_housing_action_plan">determined</a> with reference to size and price thresholds, to a maximum of A$374,000 for homes larger than 105 square metres.
In South Australia, smart use of government land has also enabled affordable housing within well located areas. Rather than maximising revenue from real estate windfall, the state actively supports affordable housing delivery on its own land.
Combined with planning design concessions, and National Rental Affordability Scheme funds, affordable rental is being delivered in urban renewal areas and home purchase in greenfield areas. Eligible low and moderate income earners (up to A$95,000 per year for couples) can search for a home on the affordable property locator.
Faster, simpler, cheaper planning?
Of all the recommendations arising from the 2008 Senate Inquiry, planning system reform has probably received the greatest attention.
Spurred by claims that urban consolidation policies have created an artificial shortage of land, and inefficient and parochial local councils have blocked housing development, many of the states have embarked on exuberant programs of red tape reduction, competing for the title of fastest, simplest, and indeed, cheapest, planning system.
Common measures have included standardisation and often reduction of land use zones, codification of development types (meaning automatic approval), and “panelisation” (referring development applications to expert panels rather than local councils). More reforms are underway in Victoria, NSW, and Queensland, but it’s hard to see benefits for affordable housing.
Perhaps the exception are reforms designed specifically to support affordable housing supply. The NSW state policy for affordable rental housing (introduced in 2009) enables diverse housing types, and makes granny flats permissible on most blocks, adding much needed flexibility. It also permits additional density for projects including affordable rental housing. While aspects of the current scheme have been problematic, a clearer mechanism for including affordable housing in major developments is proposed in new draft planning legislation.
Supporting the community and affordable housing sector
Despite a reputation for NIMBYism, many local councils have been strong innovators and supporters of affordable housing. The Cities of Sydney, Brisbane, Adelaide, and Port Phillip in Melbourne have long dedicated significant parcels of council land to enable affordable and mixed housing developments and support local affordable housing providers. If anything, local government efforts to address affordable housing through their planning powers have been curtailed by state governments, often influenced by industry lobby groups.
More widely, growing a dedicated affordable housing sector is critical. With funding a central issue, proposals for leveraging new investment through affordable housing bonds, supported by a special purpose affordable housing finance corporation offer important <a target="_blank" href="https://www.ahuri.edu.au/publications/projects/p53019.">models</a> for the future.
A national housing plan?
The terms of reference for the Senate inquiry foreshadow a national housing plan. This would provide a basis for aligning housing and urban policy at national, state and local levels, and for extending and implementing the range of measures identified above.
But there is not a lot of evidence to suggest that governments are capable of a national housing plan to tackle affordable housing:
<ul>
<li>
The politics don’t work – two thirds of the households who are home owners/purchasers want prices to go up;
</li>
<li>
The profitability of the four “too big to fail banks” depends on rising house prices to minimise risks to the banks
</li>
<li>
State governments are addicted to the stamp duties they receive from rising house prices; and
</li>
<li>
Powerful real estate lobby groups white ant the many sensible affordable housing policy initiatives.
</li>
</ul>
Still, maybe they will surprise us. Public submissions to the inquiry close on March 24.
Nicole Gurran is associate professor at the <a href="https://sydney.edu.au/" target="_blank" rel="nofollow">University of Sydney</a>. Nicole receives funding from the Australian Research Council and has received funding from the Australian Housing and Research Institute (AHURI).
Peter Phibbs is chair of urban planning and policy at the <a href="https://sydney.edu.au/" target="_blank" rel="nofollow">University of Sydney</a>. Peter receives funding from the Australian Housing and Urban Research Institute.
This article was originally published at <a href="https://theconversation.com/" rel="nofollow">The Conversation</a>. 
            
<img alt="The Conversation" height="1" src="https://counter.theconversation.edu.au/content/23252/count.gif" width="1">
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Living on The Block and other housing fantasies

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A five bedroom stunner in Vaucluse was the week's most expensive sale, according to RP Data.
The property at 10 Kings Road boasts stunning views across Sydney Harbour towards the bridge and these views no doubt contributed towards its selling price of $5.475 million.
It was marketed as "an executive family home of understated luxury and effortless style...over three spacious levels with immaculate presentation and premium finishes throughout."
Elliot Placks and Gavin Rubenstien of Ray White Double Bay handled the listing.
The past week saw the property market well and truly click into gear and both Melbourne and Sydney had over 1,000 auctions in the past week with Sydney recording a preliminary clearance rate of 87.5%, according to RP Data.
<img alt="rp-data-feb-25-three" height="246" width="470" src="/images/stories/2014/02/25/rp/rp-data-feb-25-three.gif">
Source: RP Data.
Despite the number of fresh listings over the past 28 rising in Sydney by 7,953, there are still 15.5% less properties in total on the market than there was this time 12 months ago.
<img src="/images/stories/2014/02/25/rp/rp-data-feb-25-five.gif" width="470" height="276" alt="rp-data-feb-25-five">
Source: RP Data
"The first two weeks of auctions for the year suggest that the improvements recorded over the course of 2013 will be lasting," <a target="_blank" href="https://www.propertyobserver.com.au/victoria/the-first-super-saturday-of-the-year-rp-data-s-melbourne-weekend-auction-preview/2014022167944">wrote RP Data's Victorian housing specialist, Robert Larocca</a>.
"The next two weeks are significant, as they will see a return to auction volumes last seen in the fourth quarter of 2013 and the next update of the RP Data Rismark Home Value Index."
The preliminary clearance rate in Melbourne was 79%, according to RP Data.
<img src="/images/stories/2014/02/25/rp/rp-data-feb-25-four.gif" width="470" height="201" alt="rp-data-feb-25-four">
Source: RP Data.
The highest selling property in Victoria was at 29 Sussex Street, Brighton (pictured below), where a five bedroom Victorian-style house sold for $3.6 million.
David Hart and Stefan Whiting of Buxton - Brighton were the agents.
{yoogallery src=[images/stories/2014/02/25/bri]}
Top 10 most expensive sales of the week ending February 23
 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/10_kings_road_vaucluse_nsw_2030/7141960">10 Kings Road, Vaucluse, NSW, 2030,</a> five-bedroom house, sold on February 21 by Ray White Double Bay for $5.475 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/9/17_waruda_street_kirribilli_nsw_2061/3436766">9/17 Waruda Street, Kirribilli, NSW, 2061</a>, three-bedroom unit, sold at auction on February 22 by Laing + Simmons North Sydney for $4.325 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/29_sussex_street_brighton_vic_3186/10023671">29 Sussex Street, Brighton, VIC, 3186</a>, five-bedroom house, sold prior to auction on February 22 by Buxton Real Estate Brighton for $3.6 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/5_alan_street_cammeray_nsw_2062/1692053">5 Alan Street, Cammeray, NSW, 2062</a>, four-bedroom house, sold prior to auction on February 22 by Belle Property Neutral Bay for $3.39 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/88_park_street_moonee_ponds_vic_3039/11913054">88 Park Street, Moonee Ponds, VIC, 3039</a>, five-bedroom house, sold at auction on February 22 by Nelson Alexander Real Estate for $3.362 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/37_bonnefin_road_hunters_hill_nsw_2110/3003471">37 Bonnefin Road, Hunters Hill, NSW, 2110</a>, four-bedroom house, sold prior to auction on February 22 by BresicWhitney Darlinghurst for $3.155 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/79_balfour_road_bellevue_hill_nsw_2023/1366603">79 Balfour Road, Bellevue Hill, NSW, 2023</a>, three-bedroom house, sold on February 21 by Ray White Double Bay for $3.01 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/127_buckland_street_alexandria_nsw_2015/16667290">127 Buckland Street, Alexandria, NSW, 2015</a>, three-bedroom house, sold on February 18 by BresicWhitney Darlinghurst for $3 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_gahan_court_toorak_vic_3142/13581538">1 Gahan Court, Toorak, VIC, 3142,</a> four-bedroom house, sold at auction on February 22 by Williams Batters Real Estate South Yarra for $2.72 million  
<a href="https://www.myrp.com.au/property/13_hall_street_brighton_vic_3186">13 Hall Street, Brighton, VIC, 3186,</a> four-bedroom house, sold at auction on February 22 by Nick Johnstone Real Estate Brighton for $2.66 million
<a href="mailto:jrobinson@propertyobserver.com.au" target="_blank">jrobinson@propertyobserver.com.au</a> 
              
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Vaucluse stunner with harbour views the most expensive sale of the week: RP Data

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Unless you have been living under a rock, you couldn’t help but hear the dying wail of manufacturing here in Australia. Car manufacturing and food manufacturing being the most recent victims. There’s no shortage of potential contributors: the high Australian dollar, the natural resources sector, the unions, cheap foreign imports, etc.
Although it would seem that these types of manufacturing are bowing out from the Australian economy, there could be a good news story for manufacturing in the wings: the prefabricated building sector.
And it could provide a much needed employment bridge for workers within industries such as automotive.
Growth trends in building manufacturing
In 2012, output from the prefabricated building industry globally is <a href="https://www.businesswire.com/news/home/20140123005885/en/Research-Markets-Global-Prefabricated-Buildings-Market--#.UvyjnkKSx40" target="_blank">estimated</a> to be more than US$90 billion, up from $60 billion in 2011.
Australia’s share of this is still comparatively small, representing just 3% of the global number. Prefabricated buildings in Australia also represent 3% of the domestic residential housing market. In Scandinavian countries they use substantially more, with 50% of residential housing in Finland and 74% in Sweden being prefabricated.
But the Australian industry is growing, with an ambition to achieve 10% of the residential market by 2020.
While many of the Australian modular builders are focused on single and two storey dwellings, one company has setup a factory in Melbourne which is making multi-storey dwellings: <a href="https://www.hickory.com.au/unitised-building" target="_blank">Hickory Group</a>. Although the company has been building using conventional methods for generations, five years ago it established a modular factory which now employs more than 150 people and is producing more than 500 apartments every year. Many of the employees are drawn from the depleted Victorian automotive manufacturing sector. Since inception, the factory has produced multi-storey modular residential and hotel projects across the country, and engineered a system that can achieve architecturally diverse high-rise buildings.
Although Hickory is building apartments and hotels, its factory more resembles an auto manufacturing plant. The plant uses <a href="https://www.leanconstruction.org.au/" target="_blank">lean construction</a> techniques, building multiple parts of a building in parallel; as well as using <a href="https://www.innovation.gov.au/industry/buildingandconstruction/BEIIC/Pages/BuiltEnvironmentDigitalModelling.aspx" target="_blank">Building Information Modelling</a> (BIM), and Enterprise Resource Planning (ERP). In doing so, they <a href="https://www.hickory.com.au/unitised-building/benefits/#faster-construction" target="_blank">halve construction times</a> compared against conventional building methods in Australia. The product is also much more sustainable in terms of energy, carbon and building waste.
It’s not just the numbers that look good for manufactured buildings, the aesthetics are looking good too. <a href="https://www.completehome.com.au/be-inspired/tips-and-trends/15-fabulous-prefabricated-homes" target="_blank">Beautiful modular buildings</a> are popping up all over the country. Melbourne has the world’s tallest wood building: with Lendleases’s <a href="https://www.forteliving.com.au/" target="_blank">Forte</a> apartments. Even the <a href="https://www.afr.com/p/lifestyle/life_leisure/prefab_homes_moving_into_millionaires_8WOcz1UTTT0jNUYoH6KpvK" target="_blank">rich</a> are embracing modular construction.
In 2013, a modular peak industry body was established in Australia. <a href="https://www.prefabaus.org.au/" target="_blank">Prefabaus</a> already has 36 industry members.
Labour opportunity
The workforce for modular building requires skills that are usually associated with auto manufacturing, rather than traditional building skills. This includes factors such as design upfront, proactive rather than reactive thinking, procuring materials upfront and warehousing components. There is a clear opportunity to up-skill the auto manufacturing industry to building manufacturing.
Similar factories are operating and popping up in other parts of the world including China, Thailand, Malaysia.
Does this mean the end for manufactured buildings here in Australia? Not necessarily.
Although some might argue the Chinese quality isn’t on par with Australia, if that is the case, without a doubt, in time it will be.
Does that spell trouble for Australian industry? Maybe not.
Although labour costs in China are much lower than those in Australia, there are other factors which impact the savings perceived in buying modular products offshore.
One advantage that Australian factories have over their foreign competitors is that the modules can get to site quicker and transportation costs are less. Post project defect rectification and complying with builders warranty regulations becomes much more complicated when purchasing imported products from offshore suppliers. Having an Australian manufacturer and installer allows for greater certainty of any potential issues being resolved promptly and properly.
So while the construction costs, due to labour, may make overall costs more expensive, when compared against lesser transport costs, and potentially escalated costs to rectify defects and quality, these labour gains may be less relevant.
A trend we can benefit, or lose from
Modular will never completely replace conventional building approaches, but it will take a much greater share in the market, particularly for multi-storey buildings. This 21st century innovation offers a much more sustainable option for the construction sector.
Australian manufacturing has a window of opportunity here - to turn around the manufacturing industry from ailing to growing. If we don’t seize the day in building manufacturing, foreign companies will certainly fill the gap in the market, which could lead to job losses in traditional building.
So as the trend towards modular construction continues, Australia should embrace this opportunity and give domestic building manufacturing a fighting chance. The opportunity is there for transition assistance to help move auto jobs to modular building jobs that will ensure a much longer and more sustainable outcome than the millions used in supporting the auto manufacturers. We could use more of this kind of thinking in Australia.
Peter Newman is the professor of sustainability at Curtin University and director of CUSP which has 60 PhD students working on all aspects of the green economy.
 <img style="margin: 20px -294px 20px 20px; padding: 0px; border: 1px solid #cccccc; outline-width: 0px; font-size: 14px; font-family: Arial, Helvetica, sans-serif; vertical-align: baseline; background-color: transparent; float: right; top: 4px; position: relative; clear: right; color: #444444;" class="figure" alt="Ms Jemma Green" src="https://oasisapps.curtin.edu.au/staff/profile/local/images/profile/Jemma.Green">Jemma Green is senior research fellow and doctoral candidate at Curtin University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
<img alt="The Conversation" height="1" src="https://counter.theconversation.edu.au/content/23195/count.gif" width="1">
  
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Building a housing industry from the relics of a car industry

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Toyota has announced it will close its Australian manufacturing division by the end of 2017, signalling the end of car manufacturing in the country.
The move follows similar announcements from GM Holden and Ford last year, with economists now tipping the total job loses to be in the tens of thousands.
Toyota also said it’s considering scaling down its development and technical operations in Australia and around 2,500 jobs will be lost from its Altona plant alone.
The car company’s Australia chief executive, Max Yasuda, said in a statement Toyota had done everything to try and keep its operations in Australia.
“We did everything that we could to transform our business, but the reality is that there are too many factors beyond our control that make it unviable to build cars in Australia,” he says.
“Although the company has made profits in the past, our manufacturing operations have continued to be loss-making despite our best efforts.”
The move will have a drastic impact on local suppliers, which will be forced to close, start exporting or diversify into other industries.
There has been talk of up to 50,000 jobs being lost and the potential for Victoria to be pushed into a recession, but JP Morgan chief economist Stephen Walters told SmartCompany this is too “alarmist”.
“The closure isn’t for three-and-a-half to four years, so like the other carmakers it’s not immediate, but if you’re not making cars there are direct losses of those jobs. There is a debate going about how many jobs will be lost, I’d say it’s likely to be tens of thousands,” he says.
“With retraining and some assistance, the jobs will end up elsewhere. Component manufacturers are also able to reposition and even export their components, so just because car manufacturing is ending, it doesn’t necessarily mean these smaller companies will shut down.”
A Federal Chamber of Automotive Industries study released in November last year tipped by 2018, if automotive manufacturing ended the <a href="https://www.smartcompany.com.au/finance/cashflow/34848-if-holden-leaves-toyota-follows-the-disastrous-impact-on-small-business" target="_blank">Australian economy would be $7.3 billion smaller</a>.
To what degree the economy is affected will be influenced by what policies are created to support manufacturing in the next three years, Roy Green, the dean of the Business School at the University of Technology, Sydney, told SmartCompany.
“It would be reasonable to say with the combined impact of the three assembly makers exiting the market between 30,000-50,000 people will be affected in the immediate companies, the car component suppliers and related services in engineering and design.
“It’s contingent on what the government does next in terms of policy in respect to manufacturing. It may not be as many jobs if there is a strategy developed around the diversification of the components manufacturing sector to let it participate more in global chains or to diversify into other industries.”
Green says the government needs to provide SMEs in the car components sector with an understanding of their opportunities and with new skills and management expertise to allow them to transition.
“It isn’t a question of throwing money at the remaining SMEs... Some will make it, many will not.”
In an article in <a href="https://www.smh.com.au/federal-politics/political-news/road-to-recession-end-of-car-industry-may-cost-50000-jobs-20140210-32d3g" target="_blank">The Sydney Morning Herald</a>, Adelaide University economics and workplace expert John Spoehr said Victoria and South Australia could be pushed into a recession.
He also speculated the closure of Holden alone could cause 50,000 jobs to go.
Green says a recession is possible, but unlikely.
“Whether it’s a recession or not depends on what else is happening in the economy – whether the component suppliers are transitioning and if other industries absorb the job losses, but if nothing happens and we sleepwalk into the next three years a recession is likely,” he says.
“But it’s hard to imagine policymakers being so short-sighted or businesses not taking advantage of other opportunities.”
Dr Philip Toner from Sydney University’s department of political economy toldSmartCompany research suggests a third of the jobs in the car industry will be lost, with the people either retiring or going on the dole.
“Another third will get jobs with lower wages and conditions in things like hospitality or aged care, and another third will get jobs with equivalent wages and conditions,” he says.
“Ironically, the effect of that is a reduction in Australia’s productivity. A rather startling statistic that emerged from some analysis I did was that something like 90% of jobs created over the past four decades were in industries with below-average productivity and low-wage jobs in things like aged care, retail, cleaning and security services.”
The FCAI study predicted the closure of Holden and Toyota in Australia would see the loss of 33,000 jobs in Melbourne by 2018 and 6000 in Adelaide.
Australian Chamber of Commerce and Industry acting chief economist Burchall Wilson told SmartCompany the alarmist commentary will harm the state economies.
“The job losses will be relatively small compared to the broader labour market and it’s still very unclear the extent to which there will be losses further up the supply chain,” he says.
“There is some quite dangerous and alarmist commentary which will only undermine business confidence in these states. It’s doing the states a disservice.”
Wilson says the closure of the car manufacturers shows the billions of dollars spent on propping up the sector has been “wasted”.
“In terms of support to the industry, it’s been costly to the community. There is no justification for propping up private sector businesses in relation to the automotive industry, as the Productivity Commission told us just two weeks ago,” he says.
“The first solution for any business which is struggling is to do what it can to contain costs and put itself on sustainable footing. It’s not the government’s responsibility.”
AMP chief economist Shane Oliver told SmartCompany the real danger in these situations is overstating the economic impact of an industry’s closure.
“I grew up in Newcastle and saw the closure of the steel industry. I remember going back in the 1990s when it looked fairly dismal. Today, however, the place is buzzing. They moved on. The regions here will also move on,” he says.
“I think there’s a real danger in overstating the economic impact. We’ll get by – there won’t be a recession. The longer-term impact is probably a positive one.
“All the money that taxpayers have been pumping into the car industry will probably come to an end. It can be reallocated to more useful areas, like infrastructure spending.”
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany.</a>
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Will Toyota’s move to end car manufacturing by 2017 in Australia cause a recession?

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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[smartcode_project_cta:default project_id=152737]

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Jacob Robinson

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