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Listings have already begun to pick up after the January lull, according to RP Data's Victorian housing market specialist Robert Larocca.
"<a target="_blank" href="https://blog.rpdata.com/2014/02/melbourne-house-values-new-peak-nation-leading-growth-january/">Recent house price data</a> showing very strong growth over January will encourage more vendors into the market as they seek to capitalise on recent market movements," Larocca said.
RP Data expects to see 309 auctions across Melbourne this weekend.
RIEV CEO Enzo Raimondo suggests that auction number projections are indicative of vendor confidence. Raimondo is confident that we may even see the first Super Saturday of the year within the next fortnight.
“Historically, the last two weeks of February before the Labour day weekend usually have high numbers of auctions. Our early projections indicate that this year, volumes are looking higher than what we have seen in recent years which is a sign that some of the momentum from late last year is continuing on to the new year,” Raimondo said.
The REIV expects Preston to see the most auction action this weekend, with six homes set to hit block. Moonee Ponds and Bentleigh East will feature five auctions each.
In somewhat of a surprise, the good early February weather will play host to an unlikely amount of auctions in the Gippsland Lakes town of Metung; an irregular occurrence.
Key data for Melbourne's February 8 weekend auctions
<ul>
<li>
Final clearance rate week ending February 2: 74.7%
</li>
<li>
Melbourne auctions expected week ending February 8: 309
</li>
<li>
Melbourne private sales time on market week ending February 2: 62 days (houses)
</li>
<li>
Melbourne vendor discounting market week ending February 2: -5.7% (houses)
</li>
<li>
Listings being prepared for market are 18.7% higher in month ending February 2
</li>
</ul>
Source: RP Data  
<a href="mailto:jrobinson@propertyobserver.com.au" target="_blank">jrobinson@propertyobserver.com.au</a>
 
<ul></ul>
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jake-cSmGT7VXVf

Auction season to kick-off after January lull: Melbourne February 8 weekend auction preview

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Perceptions of the family home have changed dramatically in recent years.
Once viewed as a tool to ensure low housing costs in old age, a more complex and wide-ranging welfare role for home ownership has emerged. A suite of mortgage products are transforming the family home from “bricks and mortar” into a liquid resource that owners can dip into to meet spending needs when required.
The scale of equity borrowing activity has been immense in Australia, with the total value amounting to over two-thirds of the total flow of funds from housing into the cash economy during 2001-2008.
One in five Australian owners dipped into their housing equity every year over the last decade. Home owners, particularly those in retirement transition years, have continued to withdraw equity despite the global financial crisis.
Policy pressure
Interest in withdrawing home equity has in part been driven by fiscal policy responses to our ageing population. For example, the Productivity Commission recently recommended that home owners release equity to help pay for aged care needs.
But equity borrowing is used by home owners throughout their life, not just in old age. Financial innovations have turned the family home into an “ATM”, with borrowers drawing down their housing equity as and when they choose. And so the family home is being positioned at the centre of an asset based approach to the management of lifetime welfare.
Tapping home equity can bring immense financial benefits to home owners, especially baby boomers who have reaped huge windfall gains from rising house prices across the millennium. Now approaching or in retirement, the majority are home owners. Equity borrowing could prolong their financial independence and promote “ageing in place” despite escalating age related costs such as health bills.
It can also enhance the intergenerational flow of financial benefits. For example, owner parents might roll out housing equity to help finance the education costs of children. What’s more, parents may use equity release to help fund their adult childrens’ first home deposits.
Real risks
But equity borrowing can also expose the owner to uncomfortable levels of risk, especially those who have reached or will shortly reach the end of their working careers.
Firstly, there’s the real danger of inadequate or inappropriate advice, due to the often complex nature of mortgage products.
Because equity borrowing involves additions to mortgage debt that have to be repaid in the future, borrowers also take on repayment risks. These risks are often precipitated by adverse life events such as divorce, ill-health or unemployment
Our research shows that equity borrowers approaching or in retirement (aged 45 years or over) have outstanding mortgages that are roughly 1.5 times the level owed by other similarly aged mortgagors. The drawdown of housing equity by ageing parents will also reduce bequests to adult children. Our research found this to be a source of friction that can fracture relationships between parents and children.
What’s required
Getting policy settings right is critical to help people tap their housing equity in secure ways. Misguided equity borrowing could result in growing numbers of home owners entering retirement with large outstanding mortgage debts.
Consumer understanding of equity borrowing products is essential to financially responsible management of housing wealth. Home owners cashing in housing equity should be made fully aware of the safeguards afforded to them under consumer protection laws. Currently, product disclosure details are invariably technically complex and obscure.
The intergenerational implications of equity borrowing cannot be ignored. The “great Australian dream” of owning a home is increasingly out of reach for young Australians, who have been dubbed “Generation rent”. However, those baby boomer parents that secured home ownership “careers” have reaped large windfall housing gains. A willingness to gift some of their gains to help children secure a foothold in home ownership could be the source of a growing rift among Generation rent. Home ownership prospects could come to depend more and more on parents’ housing wealth and their willingness to use equity borrowing products.
But is this growing reliance on equity borrowing products misplaced? We estimate that 642,000 individuals left home ownership between 2001 and 2010 and did not return by 2010. Many left because of financial difficulties, in part due to crippling mortgage repayments, but also precipitated by separation, divorce, ill-health and redundancy. Might it now be time for innovative mortgage products that help home buyers ride out these threats, by allowing them to swap investment returns on their home for lower housing costs?
There is a growing international interest in such financial products because they help home owners better cope with the risks that changing demographics and insecure employment conditions are inflating.
Rachel Ong is associate professor at Curtin University.
Gavin Wood is professor of housing at RMIT University.
This article was originally published at <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/your-home-as-an-atm-home-equity-a-risky-welfare-tool-22000">original article</a>.
 
<img alt="The Conversation" height="1" src="https://counter.theconversation.edu.au/content/22000/count.gif" width="1">
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Home equity is not just an "ATM", it's an uncomfortable risk

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A four bedroom house on prestigious Coolong Road in Vaucluse was the week's most expensive sale, according to RP Data.
The sale at $6,550,000 was comfortably the highest fee brought in over the week, topping a five bedroom house in Kyle Bay and a a four bedroom house in Gordon by a margin of just under $4 million.
This week saw the <a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/auction-season-kicks-off-melbourne-and-sydney-still-strong-but-brisbanes-got-buzz/2014020367496?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">2014 property market season kick-off</a> after Melbourne and Sydney reached record-breaking heights in spring last year.
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/apm-s-sydney-76-auction-results-show-a-803-clearance-rate/2014020267479?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">Sydney recorded a clearance rate of 80.3%</a>, while <a target="_blank" href="https://www.propertyobserver.com.au/victoria/apm-s-melbourne-auction-results-for-february-1-weekend/2014020267478?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">73.6% of houses in Melbourne sold</a>, according to Australian Property Monitors.
The house at <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-vaucluse-nsw-2030/194332">6 Coolong Road, Vaucluse</a> (pictured below) was marketed as the perfect modern family home, in reference to its close proximity to public and private schools as well as nearby Vaucluse Village.
{yoogallery src=[images/stories/2014/02/03/vau]}
Inspired by Toorak architecture and set on a 835 square metre block the property features expansive terraces, a gourmet kitchen and a gas heated swimming pool.
The listing was handled by Hamish Robertson of McGrath Estate Agents.
The top five sales of the week according to RP Data
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/6_coolong_road_vaucluse_nsw_2030/7138499">6 Coolong Road, Vaucluse, NSW, 2030,</a> four-bedroom house, sold on January 29 by McGrath Estate Agents for $6.55 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/139_kyle_parade_kyle_bay_nsw_2221/3507027">139 Kyle Parade, Kyle Bay, NSW, 2221,</a> five-bedroom house, sold on January 29 by McGrath Estate Agents for $2.71 million  (pictured below)
{yoogallery src=[images/stories/2014/02/03/kyle]}
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/37a_cecil_street_gordon_nsw_2072/2522689">37a Cecil Street, Gordon, NSW, 2072,</a> four-bedroom house, sold at auction on February 1 by Century 21 Cordeau Marshall for $2.6 million  (pictured below)
{yoogallery src=[images/stories/2014/02/03/gor]}
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/32_knightsbridge_parade_west_paradise_point_qld_4216/6753069">32 Knightsbridge Parade West, Paradise Point, QLD, 4216,</a> five-bedroom house, sold at auction on January 28 by Ray White Sovereign Islands for $2.535 million (pictured below)
{yoogallery src=[images/stories/2014/02/03/par]}
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4_wren_court_portsea_vic_3944/12601985">4 Wren Court, Portsea, VIC, 3944,</a> five-bedroom house, sold at auction on February 1 by Melbourne Sotheby’s International Realty for $2.275 million  (pictured below)
{yoogallery src=[images/stories/2014/02/03/por]}
<a target="_blank" href="https://mce_host/news%20@propertyobserver.com.au">news @propertyobserver.com.au</a>
 
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Vaucluse mansion sells for $6,550,000 the week's most expensive sale: RP Data

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Median house values in the ritzy Melbourne suburb of Toorak jumped by 55.4% in a year, according to the latest data from the Real Estate Institute of Victoria (REIV).
This included a rise of 19.8% in the December 2013 quarter, to ensure its place as the top growth suburb for houses over 2013.
Of the top 20 growth suburbs listed by the <a rel="nofollow" target="_blank" href="https://www.reiv.com.au/~/link.aspx?_id=4FF20028A7DB491F9728F6DB37B82EFD&amp;_z=z" style="font-size: 14px;">REIV</a>, eleven recorded annual price growth for houses of over 25%; with Toorak, Donvale, Balwyn North, Hawthorn East and Wantrina South making up the top five.
The south-east Melbourne suburb of Prahran recorded the highest quarterly growth in house prices, with a median sales price of $1,155,000, up 25.7% over the December 2013 quarter.
Houses in Toorak sell in a wide price range and hence the median price can fluctuate depending on which end of the scale the sales data is predominately drawn from. For example a three bedroom house at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/19-ruabon-road-toorak/Property-Details-buy-residential-6604097">19 Ruabon Road</a> (pictured below) is currently on the market with price expectations between $820,000 to $900,000.
{yoogallery src=[images/stories/2014/02/10/too1]}
 
By comparison a five bedroom, four bathroom house at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/12-albany-road-toorak/Property-Details-buy-residential-2741329">12 Albany Road</a> (pictured below) is currently available for $11.5 million.
{yoogallery src=[images/stories/2014/02/10/too2]}
 
Top 10 growth suburbs (annual)
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top"></td>
<td width="204" valign="top">
Suburb
</td>
<td width="92" valign="top">
Dec-13 Median
</td>
<td width="92" valign="top">
Dec-12 Median
</td>
<td width="80" valign="top">
Annual Change
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
1
</td>
<td valign="top">
TOORAK
</td>
<td valign="top">
$2,875,000
</td>
<td valign="top">
$1,850,000
</td>
<td valign="top">
55.4%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
2
</td>
<td valign="top">
DONVALE
</td>
<td valign="top">
$960,500
</td>
<td valign="top">
$691,500
</td>
<td valign="top">
38.9%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
3
</td>
<td valign="top">
BALWYN NORTH
</td>
<td valign="top">
$1,355,000
</td>
<td valign="top">
$980,000
</td>
<td valign="top">
38.3%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
4
</td>
<td valign="top">
HAWTHORN EAST
</td>
<td valign="top">
$1,555,000
</td>
<td valign="top">
$1,132,500
</td>
<td valign="top">
37.3%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
5
</td>
<td valign="top">
WANTIRNA SOUTH
</td>
<td valign="top">
$690,000
</td>
<td valign="top">
$515,000
</td>
<td valign="top">
34.0%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
6
</td>
<td valign="top">
SURREY HILLS
</td>
<td valign="top">
$1,392,000
</td>
<td valign="top">
$1,049,000
</td>
<td valign="top">
32.7%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
7
</td>
<td valign="top">
ST KILDA EAST
</td>
<td valign="top">
$1,071,750
</td>
<td valign="top">
$822,500
</td>
<td valign="top">
30.3%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
8
</td>
<td valign="top">
WERRIBEE
</td>
<td valign="top">
$350,000
</td>
<td valign="top">
$273,500
</td>
<td valign="top">
28.0%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
9
</td>
<td valign="top">
PRAHRAN
</td>
<td valign="top">
$1,155,000
</td>
<td valign="top">
$908,000
</td>
<td valign="top">
27.2%
</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top">
10
</td>
<td valign="top">
RINGWOOD
</td>
<td valign="top">
$600,000
</td>
<td valign="top">
$477,000
</td>
<td valign="top">
25.8%
</td>
<td valign="top"></td>
</tr>
</tbody></table>
Top 10 growth suburbs quarterly on next page. Please click below.
 
<hr class="system-pagebreak">
Top 20 growth suburbs (quarterly)
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top"></td>
<td width="204" valign="top">
Suburb
</td>
<td width="92" valign="top">
Dec-13 Median
</td>
<td width="92" valign="top">
Sep-13 Median
</td>
<td width="80" valign="top">
Quarterly Change
</td>
</tr>
<tr>
<td valign="top">
1
</td>
<td valign="top">
PRAHRAN
</td>
<td valign="top">
$1,155,000
</td>
<td valign="top">
$918,500
</td>
<td valign="top">
25.7%
</td>
</tr>
<tr>
<td valign="top">
2
</td>
<td valign="top">
DONVALE
</td>
<td valign="top">
$960,500
</td>
<td valign="top">
$770,500
</td>
<td valign="top">
24.7%
</td>
</tr>
<tr>
<td valign="top">
3
</td>
<td valign="top">
FITZROY NORTH
</td>
<td valign="top">
$1,177,000
</td>
<td valign="top">
$952,500
</td>
<td valign="top">
23.6%
</td>
</tr>
<tr>
<td valign="top">
4
</td>
<td valign="top">
TOORAK
</td>
<td valign="top">
$2,875,000
</td>
<td valign="top">
$2,400,000
</td>
<td valign="top">
19.8%
</td>
</tr>
<tr>
<td valign="top">
5
</td>
<td valign="top">
WILLIAMSTOWN
</td>
<td valign="top">
$1,000,000
</td>
<td valign="top">
$840,000
</td>
<td valign="top">
19.0%
</td>
</tr>
<tr>
<td valign="top">
6
</td>
<td valign="top">
WANTIRNA SOUTH
</td>
<td valign="top">
$690,000
</td>
<td valign="top">
$580,000
</td>
<td valign="top">
19.0%
</td>
</tr>
<tr>
<td valign="top">
7
</td>
<td valign="top">
NORTHCOTE
</td>
<td valign="top">
$971,500
</td>
<td valign="top">
$841,000
</td>
<td valign="top">
15.5%
</td>
</tr>
<tr>
<td valign="top">
8
</td>
<td valign="top">
HAMPTON
</td>
<td valign="top">
$1,400,000
</td>
<td valign="top">
$1,227,500
</td>
<td valign="top">
14.1%
</td>
</tr>
<tr>
<td valign="top">
9
</td>
<td valign="top">
HAWTHORN
</td>
<td valign="top">
$1,686,000
</td>
<td valign="top">
$1,480,000
</td>
<td valign="top">
13.9%
</td>
</tr>
<tr>
<td valign="top">
10
</td>
<td valign="top">
MOUNT MARTHA
</td>
<td valign="top">
$688,000
</td>
<td valign="top">
$605,000
</td>
<td valign="top">
13.7%
</td>
</tr>
</tbody></table>
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Toorak median house price up a whopping 55.4% over 2013, tops Melbourne growth suburbs: REIV

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A red brick Cronulla cottage with stunning views across Gunnamatta Bay was last week’s most expensive sale at $3.8 million, according to RP Data.
The 1,056 square metre property features a brand new, self-contained granny flat in addition to the main home’s updated bathrooms and modern kitchen.
Highland Property Agents Cronulla carried the listing.
{qtube vid:=UkgxMUb5LXE}
The median price for houses in <a href="/news">Cronulla</a> is $1,257,500, a drop of -2.9% over the past 12 months according to RP Data.
RP Data recorded five sales above the $2 million mark after<a href="/news"> last week’s top sale fetched $1.7 million in Sandy Bay</a>, Tasmania.
Top five most expensive sales week ending 26 January
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/11_darook_park_road_cronulla_nsw_2230/2011724">11 Darook Park Road, Cronulla, NSW, 2230,</a> three-bedroom house, sold on January 23 by Highland Property Agents Cronulla for $3.8 million.
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/63/100_old_burleigh_road_broadbeach_qld_4218/3320033">63/100 Old Burleigh Road, Broadbeach, QLD, 4218,</a> four-bedroom unit, sold prior to auction on January 23 by Ray White Broadbeach for $2.85 million (pictured below). 
{yoogallery src=[images/stories/2014/01/28/bro]}
 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3005/68_market_street_sydney_nsw_2000/16696915">3005/68 Market Street, Sydney, NSW, 2000,</a> three-bedroom unit, sold on January 21 by McGrath Estate Agents for $2.425 million (pictured below).
{yoogallery src=[images/stories/2014/01/28/syd]}
 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/14/5_broadbeach_boulevard_broadbeach_qld_4218/3314588">14/5 Broadbeach Boulevard, Broadbeach, QLD, 4218,</a> four-bedroom unit, sold prior to auction on January 21 by Ray White Mermaid Beach for $2.3 million (pictured below).
{yoogallery src=[images/stories/2014/01/28/bro2]}
 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/10_helena_street_randwick_nsw_2031/5754677">10 Helena Street, Randwick, NSW, 2031,</a> four-bedroom house, sold on January 22 by Ray White Randwick for $2.12 million (pictured below).
{yoogallery src=[images/stories/2014/01/28/rand]}
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
 
 
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The most expensive sales of the week, including a Cronulla red brick cottage stunner

<html><body>
From inflationary figures, a Prahran office Block, and prestige listings; here are the most important property investment numbers of the week:
<img src="/images/stories/flagtitletat.jpg" width="25" height="34" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">
<a href="/news"><img width="400" height="59" alt="0.8" src="/images/stories/2014/01/23/0.8.jpg"></a>
The 0.8% quarterly rise in the consumer price index surprised the nation’s markets on the upside – most had been factoring in a 0.5% rise.
It puts <a target="_blank" href="/news">a stop to speculation that the RBA could cut interest rates</a> – already at record lows – to stimulate the economy and ease its transition away from the mining boom.
 
<a target="_blank" href="/news"><img alt="flagtitletat" height="34" width="25" src="/images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;"><img width="400" height="59" alt="10.75-m" src="/images/stories/2014/01/23/10.75-m.jpg"></a>
<a target="_blank" href="/news">The Block is coming to Prahran</a>. The production company of the hit Channel 9 show, Watercress, has spent $8.25 million on the 1980s office building (pictured below) with $2.5 million Brenchley Architects infill works scheduled.
<img width="470" height="286" src="/images/stories/2014/01/23/prahran_jan_23_one.jpg" alt="prahran_jan_23_one">
 
<a target="_blank" href="/news"><img alt="flagtitletat" height="34" width="25" src="/images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;"><img width="400" height="59" alt="5.44" src="/images/stories/2014/01/23/5.44.jpg"></a>
The <a target="_blank" href="/news">National Australia Bank has lowered its four-year fixed home loan</a> package rate by 0.2% to the lowest point since September 1993, as the battle between the banks intensifies. The bank so cut its three-year fixed home loan by 0.05% to 5.14%.    
 
<a target="_blank" href="https://www.propertyobserver.com.au/hotspots/regional-hotspot-toowoomba-shows-great-investor-potential/2014012267307?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=upperright"><img alt="flagtitletat" height="34" width="25" src="/images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;"><img width="400" height="59" alt="1.5" src="/images/stories/2014/01/23/1.5.jpg"></a>
Toowoomba’s unemployment rate is about 1.5 percentage points below the national average, one factor which <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/regional-hotspot-toowoomba-shows-great-investor-potential/2014012267307?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=upperright">Terry Ryder believes shows its great potential for investors</a>.
 
<a target="_blank" href="/news"><img alt="flagtitletat" height="34" width="25" src="/images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;"><img width="400" height="59" src="/images/stories/2014/01/23/1.7-MILLION.jpg" alt="1.7-MILLION"></a>
Situated in the affluent suburb of <a href="/news">Sandy Bay</a>, this chateau inspired house (pictured below) was the <a href="/news">most expensive sale of the week at .7 million</a>, according to RP Data.
{yoogallery src=[images/stories/2014/01/23/sand]}
 
 
<a target="_blank" href="https://www.propertyobserver.com.au/finance/proportion-of-first-home-buyer-loans-down-finders/2014011967232?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news&amp;utm_source=Property+Observer+List&amp;utm_campaign=affb0303e2-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-affb0303e2-245386345"><img alt="flagtitletat" height="34" width="25" src="/images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;"><img width="400" height="59" alt="12.5" src="/images/stories/2014/01/23/12.5.jpg"></a>
According to the latest report released by financial comparison website finder.com.au, the <a target="_blank" href="https://www.propertyobserver.com.au/finance/proportion-of-first-home-buyer-loans-down-finders/2014011967232?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news&amp;utm_source=Property+Observer+List&amp;utm_campaign=affb0303e2-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-affb0303e2-245386345">proportion of first home buyer loans are at an all-time low</a>.
Drawing on data from the ABS, the report notes that first home buyer loans now make up just 12.5% of all loans financed in November 2013, down 3% from the same month in 2012. 
 
 
<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/tenant-fined-%241000-for-ruining-rental-with-pet-faeces-and-urine-midland-magistrates-court/2014012167296?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news&amp;utm_source=Property+Observer+List&amp;utm_campaign=7db808fac5-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-7db808fac5-245386345"><img alt="flagtitletat" height="34" width="25" src="/images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;"><img width="400" height="59" alt="1000" src="/images/stories/2014/01/23/1000.jpg"></a>
A tenant in Western Australia has been <a href="https://www.propertyobserver.com.au/western-australia/tenant-fined-%241000-for-ruining-rental-with-pet-faeces-and-urine-midland-magistrates-court/2014012167296?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news&amp;utm_source=Property+Observer+List&amp;utm_campaign=7db808fac5-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-7db808fac5-245386345" target="_self">fined $1,000 after leaving a rental property in disarray</a>. Apparently, the carpets were wrecked by pet faeces and urine and no forwarding address was left.
 
<a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/point-piper-harbourfront-bound-angela-fleming-lists-bellevue-hill-mansion/2014012167239?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=upperright&amp;utm_source=Property+Observer+List&amp;utm_campaign=7db808fac5-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-7db808fac5-245386345"><img alt="flagtitletat" height="34" width="25" src="/images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;"><img width="400" height="59" alt="30-million" src="/images/stories/2014/01/23/30-million.jpg"></a>
<a href="https://www.propertyobserver.com.au/trophy-homes/point-piper-harbourfront-bound-angela-fleming-lists-bellevue-hill-mansion/2014012167239?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=upperright&amp;utm_source=Property+Observer+List&amp;utm_campaign=7db808fac5-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-7db808fac5-245386345" target="_self">Sydney's prestige eastern suburbs listings are well underway</a>. For instance, a $30 million plus offering on <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-vaucluse-nsw-2030/204612" rel="nofollow" style="font-size: 14px;">Coolong Road, Vaucluse</a> (pictured below) with tennis court, slipway and marina berth.
{yoogallery src=[images/stories/2014/01/22/vau]}
jrobinson@propertyobserver.com.au
 
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The most important property investment numbers of the week

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A chateau-style Hobart residence was the most expensive sale of the week at $1.7 million, according to RP Data.
Situated in the affluent suburb of <a href="/news">Sandy Bay</a>, the imposing six-bedroom European-inspired abode Greystanes includes open fire places in every bedroom, six bathrooms, a butler’s pantry and an eat-in kitchen.
Located at <a href="https://www.realestateview.com.au/Real-Estate/melrose-court-sandy-bay/Property-Details-sold-residential-5470773" target="_blank">3 Melrose Court</a> the spacious C1910 house features gorgeous timber panneling and French doors.
The 2,500 square metre block features a sprawling English garden, private courtyard and pool.
The sale was handled by Phil King of Harcourts Northern Suburbs Glenorchy.
Last week Property Observer reported  on a fellow Sandy Bay offering called<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/tasmania/sandy-bay-s-most-significant-waterfront-property-offered-in-a-decade-listed/2014011567208" target="_blank"> the most significant waterfront property for sale in the Hobart market for a decade</a>.
The weekend's 10 most expensive sales according to RP Data:
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3_melrose_court_sandy_bay_tas_7005/14092555">3 Melrose Court, Sandy Bay, TAS, 7005,</a> six-bedroom house, sold on January 17 by Harcourts Northern Suburbs Glenorchy for $1.7 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_kingfisher_drive_peregian_beach_qld_4573/6818334">28 Kingfisher Drive, Peregian Beach, QLD, 4573,</a> four-bedroom house, sold prior to auction on January 18 by Tom Offermann Real Estate for $1.435 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/27_watson_street_camp_hill_qld_4152/3675906">27 Watson Street, Camp Hill, QLD, 4152,</a> four-bedroom house, sold on January 15 by Harcourts Coorparoo for $1.4323 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2/14_moss_street_kingscliff_nsw_2487/16272912">2/14 Moss Street, Kingscliff, NSW, 2487,</a> three-bedroom unit, sold on January 16 by Ray White Coolangatta/Tweed Heads for $1.4 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2/5-7_victoria_parade_manly_nsw_2095/3989691">2/5 Victoria Parade, Manly, NSW, 2095,</a> two-bedroom unit, sold on January 14 by Brian Pentecost Property for $1.38 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/44_johnson_street_kiama_downs_nsw_2533/3315692">44 Johnson Street, Kiama Downs, NSW, 2533,</a> three-bedroom house, sold on January 15 by Harcourts Real Estate Kiama for $1.325 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/76_dunloe_avenue_mont_albert_north_vic_3129/11884841">76 Dunloe Avenue, Mont Albert North, VIC, 3129,</a> three-bedroom house, sold at auction on January 18 by Ray White Box Hill for $1.233 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/721_forest_road_bexley_nsw_2207/1424852">721 Forest Road, Bexley, NSW, 2207,</a> six-bedroom house, sold on January 15 by CoStar Real Estate Hurstville for $1.23 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/30_buccaneer_way_coomera_qld_4209/4072930">30 Buccaneer Way, Coomera, QLD, 4209,</a> four-bedroom house, sold on January 17 by Hope Island Resort Realty Hope Island for $1.065 million  
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/8_westminster_drive_castle_hill_nsw_2154/1788398">8 Westminster Drive, Castle Hill, NSW, 2154,</a> four-bedroom house, sold on January 16 by Murdoch Lee Estate Agents for $1.05 million
<a href="mailto:jrobinson@propertyobserver.com.au" target="_parent">jrobinson@propertyobserver.com.au</a>
 
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Sandy Bay chateau inspired house last week's most expensive sale: RP Data

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Metropolitan planning is an enormous undertaking, and no Australian government has yet appeared up to the task. That includes the strategy for Melbourne that the Victorian government has been preparing for over a year now.

<a href="https://www.planmelbourne.vic.gov.au/Plan-Melbourne">Plan Melbourne</a> is more ambitious than its predecessor, <a href="https://www.dpcd.vic.gov.au/planning/plansandpolicies/planningformelbourne/planninghistory/melbourne2030">Melbourne 2030</a>, but it is not clear why the 30-year plan is being fully replaced just 10 years in.
Governments routinely reject the plans of the previous regime, but larger forces are at play too. Few strategic plans achieve their intents.
As the extensive consultation on Plan Melbourne ended this week, it is worth considering what lessons the discussions around the process and content provide for other Australian cities.
Plan Melbourne
Plan Melbourne is the latest in a series of reviews.
In May 2012 a review was announced of development contributions – the developer levies that fund community facilities and infrastructure. Then came a review of land-use zones – the most powerful mechanism available to councils for controlling what goes where. Before either review was completed, Fishermans Bend was rezoned to become Australia’s largest urban renewal project. Only then was Melbourne’s strategic plan released for consultation.
Thousands of submissions have been made by people dutifully participating in a process in which the key strategic decisions have already been made. Unfortunately, most enable the worst objectives of the plan. The best objectives lack any mechanisms for implementation.
The east-west road tunnel features prominently in Plan Melbourne and there can be no doubt about that particular decision, notwithstanding that it will consume the infrastructure budget of a generation. The commitment to new public transport infrastructure is just as clear: the plan suggests “moving towards a metro-style rail system” in the long term.
The 20-minute city
One of the better objects of Plan Melbourne is to create “20-minute neighbourhoods” in which jobs, schools, shops and community services within a 20-minute walk, bike or public transport ride from home.
Matching employment with residential location is difficult at the best of times. Proximity can be encouraged via a good distribution of affordable housing and job types, with multiple transport links so people have choices about where they live and work.
Housing affordability and availability
Plan Melbourne recognises the need to increase housing affordability – a national issue of huge importance. It makes no requirement for a percentage of social housing in new developments, however, nor effort to regulate the market housing provided. It offers no strategy other than the old chestnut of building more housing – mainly in areas zoned industrial and commercial and identified for urban renewal.
Let’s settle this matter once and for all. Affordability cannot be delivered in Australian capital cities simply by increasing supply.
This is a presumption propagated by housing and development industry associations such as the HIA and the UDIA in the interests of their members, with no more evidence than there is for the argument that inadequate land supply is driving up housing prices. Plan Melbourne states that there is “at least 30 years' supply of urban-zoned land” within the urban growth boundary.
The housing market in all Australian cities is made up of submarkets in price, type and location. The 16,000 new dwellings in central Melbourne in the last decade and 4800 at Docklands have had no impact on prices on the urban fringe.
Increasing the supply of high-end apartments does not increase affordability for people on low to moderate incomes. It may affect prices in the high-end apartment submarket, but even then, the industry cries “glut” whenever there is anything approaching an oversupply. There is no reason to believe developers will not continue to stage their building programs to keep prices steady or increasing.
Simple supply-demand economics also neglect the global investment market for Australian city housing. This potentially infinite demand is for high-end apartments in the central and inner cities, which is where most urban renewal sites are located. There is no reason to believe that developers will not continue to provide directly for this submarket. The industry needs considerably more regulation to achieve affordability, because the key issues are what the industry is building, and for whom.
 
<figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/37123/width668/nkj4xpgx-1386305387.jpg" width="400"><figcaption>New dwellings in the Melbourne CBD have had no impact on house prices on the urban fringe. AAP/David Crosling</figcaption></figure> 
Urban renewal
The areas identified for urban renewal create a problem for the 20-minute city. These are, not surprisingly, where the industrial and commercial jobs are. They are close to railway lines and in well-serviced inner areas, and allow workers to commute by public transport.
But these areas are to be redeveloped for well-located housing for which there is a growing, global market. The jobs will be relocated to the urban fringe where land is cheaper and there is no public transport.
It is true the industrial base in these areas is declining, but in Melbourne the vacancies are being filled by a new range of productive activities. These include creative uses, not-for-profits, start-ups and all sorts of other low-cost enterprises. Melbourne’s industrial areas contain a very wide range of job types.
The new uses for land co-exist with the remaining light industrial not only because they are compatible, but because the zones prohibit residential use. That keeps land prices down and means there are no residents to disturb.
The mixed-use intent in urban renewal has two fatal flaws. First, noisy and messy productive uses don’t fit well in residential environments. Second, because residential is the “highest and best” economic use of land, any other use becomes unviable. That puts the mixed-use zone on a one-way trajectory to residential.
The objective of the 20-minute neighbourhood is compromised by inability to deliver a good distribution of affordable housing, and by the identification of industrial and commercial land for urban renewal. Plan Melbourne looks set to increase concentrations of high-end housing and reduce the range of job types.
What now?
Urban planning can address these problems to a point. Housing affordability, in particular, requires the involvement of state departments for housing (of which Plan Melbourne makes no mention) as well as planning and transport. Federal government and taxation laws must also come into play. A new metropolitan planning strategy is the single best opportunity to engage with state and national policies and grapple with controlling the market.
Wider distribution of a range of jobs is comparatively straight-forward. This requires not rezoning industrial and commercial areas, and where possible creating more. It is unfortunate that the Victorian government has just redefined these zones to enable more residential use.
A more constructive act – and more in line with the intent of Plan Melbourne – would have been to redefine them to keep residences out, and to make manufacturing spaces, small businesses and places for cultural production with and without audiences as-of-right. A review of the zones after the idea of the 20-minute city might have done that.
Some areas will always be rezoned upwards, and revenue from land use will continue to grow. Value capture – the mechanism by which some of these profits are distributed for community benefit – is best enabled through development contributions. These are routinely used in other jurisdictions to fund schools, libraries, social enterprises and cultural facilities, and to provide affordable housing.
The Victorian review of the development contributions system didn’t countenance any of these possibilities. A review of that system after the release of Plan Melbourne might have done so. Perhaps other cities can learn from these mistakes.
 
<hr>
 Kate Shaw is from the University of Melbourne and does not work for, consult to, own shares in or receive funding from any company or organisation that would benefit from this article, and has no relevant affiliations.
 
This article was originally published at <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/back-to-front-decision-making-bedevils-melbournes-city-planning-21170">original article</a>.
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Back-to-front decision-making bedevils Melbourne’s city planning

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What makes one space adorable and engaging? What makes another unfriendly and inhospitable?

You might think that after two millennia of architectural discourse, we’d have ready answers. And not just answers but plenty of beautiful and adorable spaces to match.
Sadly, I struggle to think of Australian examples of inspiring contemporary architecture that create a beautiful space for conversation. For instance, there are few, if any, in Canberra.
But I have no difficulty thinking of examples from the past – almost anywhere in the world – whereby gorgeous ceremonial spaces have been created by handsome façades in streets with a processional rhythm, as if the architecture figuratively accompanies us as pedestrians and magically stops when we pause.
 
<figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/33964/width668/vbrh2w8f-1383011608.jpg" width="400"><figcaption>The Queen Victoria Building in Sydney. Craig Cullum</figcaption></figure><figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/33961/width668/8gddk33r-1383011090.jpg" width="400"><figcaption>The interior of the Queen Victoria Building, Sydney. AAP Image/Mick Tsikas</figcaption></figure>Old buildings, from the façades of Rome to the Queen Victoria Building in Sydney, have a quality of public engagement that comes from their design.
I think of this conviviality as the social presence of architecture. The architecture not only communicates its joy in occupying space by flamboyant ornament but makes a concerted gesture to pedestrians that proposes some form of reciprocation.
The buildings look as if they want to be on the street – not as if they want to withdraw from the concourse or launch into space – and they also seem to signal that people could come together in front of or inside the building.
 
<figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/33646/width668/xzb2hcr8-1382580056.jpg" width="400"><figcaption>A New York City building on a corner that says: I want to be here. Robert Nelson</figcaption></figure>How, you might ask, does any building send out these magic signals? And if there’s a formula, why don’t more architects employ it today?
<figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/34080/width668/cs9jc32z-1383105611.jpg" width="400"><figcaption>395 Collins Street, Melbourne. Wikimedia</figcaption></figure> 
The standard method for 2,500 years was to build the façade in a system of agreements, sometimes described as <a href="https://knorrarchitecture.blogspot.com.au/2010/03/articulation">articulation</a>.
Think of a post, which is more or less a cylinder. Ancient architects hit upon the idea that the post could be articulated in three meaningful moments which somewhat express its function: a base, a body and a head. The cylindrical shaft sits on a base, which provides the bearing upon a platform.
The same is true of the head (the column capital) which would cap off the post and prepare it for another function, propping up an <a href="https://en.wikipedia.org/wiki/Entablature">entablature</a>.
The triple agency of putting pressure on the earth, soaring upward and having a purchase on a load-bearing <a href="https://en.wikipedia.org/wiki/Lintel_(architecture)">lintel</a> above are all spelt out by the form. Often, the base would itself be split up into three parts; and so would the shaft and so would the capital.
All of these stages of articulation bolster one another and the whole column takes on a robust presence, where every level corroborates the muscular thrust and pressure of every other level.
Happily, the configuration of base-body-head also relates to human proportions. So the column has great presence in itself which simultaneously flatters human presence.
 
<figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/33661/width668/29bpkss8-1382582274.jpg" width="400"><figcaption>Any number of columns support any number of levels on this New York City building. Robert Nelson</figcaption></figure> 
By the same logic, a whole building composed of such columns, brackets, lintels and arches, takes on a marvellous conversational air, because each articulated member seems to have something to say in supporting another.
The architecture acquires social presence because it first socialises itself. Its members actively participate in one another’s business. Each part, by the great metaphor of articulation, is socially connected to every other part.
 
<figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/33662/width668/6jmmc8d5-1382582424.jpg" width="400"><figcaption>Talkative New York architecture – almost garrulous. Robert Nelson</figcaption></figure> 
I’m grafting the term “social presence” from common language, where it’s used to describe people with an outgoing disposition who signal an interest in others. This genius of reciprocation is installed in the very fabric of old architecture, where you feel looked at or psychologically acknowledged by the building that would equally address itself to every other person sharing the space.
 
<figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/33663/width668/t45q392p-1382582552.jpg" width="400"><figcaption>Buildings talk to the street when they talk to themselves. Robert Nelson</figcaption></figure> 
Summing up the ingredients that used to make for social presence, old architecture often:
<ul>
<li>narrates and celebrates function in discretely articulated parts</li>
<li>makes correspondences between all elements and human proportion and</li>
<li>metaphorically talks to itself, with a conversational engagement in its very fabric.</li>
</ul>
These principles largely disappeared from architecture after the second world war, from which time many buildings acquired a weak social presence if any at all.
 
<figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/33665/width668/fmk7hx2v-1382583252.jpg" width="400"><figcaption>A New York building managing its mass: a visual formula for lightening the carriage of weight. Robert Nelson</figcaption></figure> 
<figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/34081/width668/6p9dk2s5-1383105612.jpg" width="400"><figcaption>Collins Street, Melbourne.  </figcaption></figure> 
There’s no reason contemporary materials and modes of construction cannot economically accommodate the three principles of social presence.
It’s only a case of whether we can still identify the charms of architecture with social presence and then whether we want it or not.


<hr>
Robert Nelson receives funding from the OLT.
This article was originally published at <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/modern-australian-buildings-are-unfriendly-and-heres-why-19432">original article</a>.
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Modern Australian buildings are unfriendly – and here’s why

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The new Federal Government has <a href="https://www.liberal.org.au/latest-news/2013/10/16/one-stop-shop-approved-government">approved</a> a broad <a href="https://www.environment.gov.au/topics/about-us/legislation/environment-protection-and-biodiversity-conservation-act-1999/one-stop">framework</a> for achieving a “one-stop-shop” that will delegate to state and territory governments the final decisions on projects assessed under Australia’s <a href="https://www.environment.gov.au/topics/about-us/legislation/environment-protection-and-biodiversity-conservation-act-1999/about-epbc">main national environmental laws</a>. The states agreed in principle to the proposed changes at COAG.

Federal Environment Minister Greg Hunt <a href="https://www.liberal.org.au/latest-news/2013/10/16/one-stop-shop-approved-government">says</a> that the “one-stop-shop will slash red tape and increase jobs and investment, whilst maintaining environmental standards.”
The Business Council of Australia <a href="https://www.bca.com.au/newsroom/statement-on-the-council-of-australian-governments-meeting">claims</a> rather breathlessly that the agreement at today’s COAG meeting “is a long overdue breakthrough, which will begin the process of securing Australia’s massive investment pipeline, without lowering environmental standards”.
Whether the claimed benefits are achievable is an open question and there are serious potential problems with the proposed system.
In 2012 the former Gillard Government <a href="https://theconversation.com/commonwealth-should-keep-final-say-on-environment-protection-11047">proposed</a> a similar system but ultimately placed it on hold due to <a href="https://www.smh.com.au/federal-politics/political-news/environmental-powers-to-be-kept-by-canberra-20121205-2avw7">concerns</a> it would create uncertainty and a patchwork regime across Australia.
Possibly reflecting similar problems of creating a patchwork system, at this stage only <a href="https://www.environment.gov.au/system/files/pages/71679b88-a037-420d-966f-1f5b7047ea83/files/onestopshop-mou-qld.pdf">Queensland</a> and <a href="https://www.environment.gov.au/system/files/pages/71679b88-a037-420d-966f-1f5b7047ea83/files/one-stop-shop-mou-nsw.pdf">NSW</a> have signed memorandums of understanding to work with the new Commonwealth Government for its “one-stop-shop”.
Few details have yet been released, but what do we know about how the new process will work and how much more efficient will it be than the current system?
How does the current system work?
One of the major obstacles to creating a one-stop-shop for environmental approvals is that Australia’s federal system of government is more like a <a href="https://theconversation.com/australias-scrambled-egg-of-government-who-has-the-environmental-power-9582">scrambled egg</a> than a neatly layered cake.
Within this scrambled egg relatively few day-to-day decisions about development that will affect the environment are made by the Commonwealth government. The vast bulk of decisions are made by local, state and territory governments.
 
<figure class="align-right zoomable"><a href="https://c479107.ssl.cf2.rackcdn.com/files/37769/area14mp/54gfnfpy-1386917487.jpg"><img src="https://c479107.ssl.cf2.rackcdn.com/files/37769/width237/54gfnfpy-1386917487.jpg"></a> <figcaption>Where does this guy stand under a one-stop shop? Carol Booth</figcaption></figure> 
For instance, there are <a href="https://www.coag.gov.au/sites/default/files/brcwg_report_card_progress_deregulation_priorities_attach_A.pdf">around 250,000</a> applications a year under state and territory planning laws, most of which are decided by local governments.
In contrast, the main Commonwealth environmental law, the Environment Protection and Biodiversity Conservation Act 1999 (<a href="https://www.environment.gov.au/topics/about-us/legislation/environment-protection-and-biodiversity-conservation-act-1999/about-epbc">EPBC Act</a>), deals with only around <a href="https://www.environment.gov.au/topics/about-us/accountability-reporting/environmental-performance">400 referrals</a> each year.
The EPBC Act mainly regulates actions affecting World Heritage properties, listed threatened species, and other “<a href="https://www.environment.gov.au/topics/about-us/legislation/environment-protection-and-biodiversity-conservation-act-1999/what">matters of national environmental significance</a>”. The projects that it regulates closely tend to be big projects.
The EPBC Act approval process has three stages: referral, assessment and approval.
At the referral stage the Commonwealth decides whether a proposed action triggers the Act and requires approval under it. This has proved to be a very efficient process of screening out many projects and providing certainty to proponents that their projects do not trigger the Act. On very <a href="https://www.envlaw.com.au/waratah">rare occasions</a>, projects have been refused as “clearly unacceptable” at this first stage, thereby avoiding further costs and delay in carrying out an assessment.
<a href="https://www.environment.gov.au/system/files/resources/5d70283b-3777-442e-b395-b0a22ba1b273/files/04-eia.pdf">Experience</a> over the first decade of the Act’s operation showed that over 75% of projects referred under it were decided within weeks and dropped out under this first stage. This fact is normally omitted by individuals and organisations such as the Business Council of Australia, who rail against the costs and delays caused by EPBC Act.
Only around 22% of referrals are determined to be controlled actions that proceed through the assessment and approval stages. For these actions the EPBC Act has mechanisms to avoid duplication with state and territory assessments known as “bilateral agreements”. There are two types of bilateral agreements.
Assessment bilaterals allow state and territory assessment processes to be used under the EPBC Act but the final decision on whether to approve a project remains with the Federal Environment Minister. Assessment bilaterals have been <a href="https://www.environment.gov.au/topics/environment-protection/environment-assessments/bilateral-agreements">in place</a> with all states and territories for years and have proved to be effective in reducing unnecessary duplication and delay.
In contrast, approval bilaterals delegate the final decision on a project to the state and territory government. While this mechanism has existed in the Act from the outset, it has been virtually unused.
An example of how efficiently the existing assessment bilateral system works to avoid duplication or delay due to the EPBC Act is the <a href="https://gvkhancockcoal.com/index.php/assets/thermal-coal-developments/alpha">Alpha Coal Mine</a>. That project began its assessment under Queensland law in 2008 and has not yet been approved, despite <a href="https://theconversation.com/on-alpha-coal-approval-burke-clearly-right-in-battle-with-newman-9061">claims to the contrary</a> in 2012 by the Queensland Premier. The project was referred under the EPBC Act in 2009, assessed under the bilateral agreement and approved by the Commonwealth in 2012. The state approvals are unlikely to be granted before early to mid-2014. That is, state approval may come some 18 months after the Commonwealth approval.
 
<figure class="align-centre zoomable"><a href="https://c479107.ssl.cf2.rackcdn.com/files/37692/area14mp/mrwqqktz-1386904663.jpg"><img src="https://c479107.ssl.cf2.rackcdn.com/files/37692/width668/mrwqqktz-1386904663.jpg" width="400"></a> <figcaption>  </figcaption></figure>Read more over page
 


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 A rarely used but important safety net for the environment 
Under the existing system the EPBC Act has rarely stopped or significantly delayed a project. Yet some important decisions have been made under it, stopping highly damaging activities such as <a href="https://www.envlaw.com.au/ffox">mass killing of flying foxes</a> adjacent to the Wet Tropics World Heritage Area.
One example where the EPBC Act has stopped a major project was the <a href="https://en.wikipedia.org/wiki/Traveston_Crossing_Dam">Traveston Crossing Dam</a> in Queensland. This project also illustrates the <a href="https://theconversation.com/commonwealth-should-keep-final-say-on-environment-protection-11047">most important role</a> of the EPBC Act in practice – to provide an appropriate level of oversight on state government-sponsored projects.
The Queensland Government proposed the dam in 2006 at the height of a major drought gripping the state. It assessed the project under state laws and concluded that the environmental impacts were acceptable.
 
<figure class="align-left"><img src="https://c479107.ssl.cf2.rackcdn.com/files/37765/width237/87d34yyz-1386915629.jpg"><figcaption>The old system worked well when Traveston was being considered. Patrick McCully</figcaption></figure> 
The Federal Environment Minister at the time, Peter Garrett, requested independent experts to review the state assessment and they <a href="https://www.propertyobserver.com.au/https://www.environment.gov.au/node/18584">found</a> major deficiencies in it regarding impacts on threatened species. His subsequent decision to <a href="https://www.smh.com.au/environment/unacceptable-garrett-rejects-blighs-traveston-dam-20091111-i91e">refuse</a> the dam based on that independent expert advice was an example of good decision-making under the EPBC Act, which prevented a project that would have caused serious damage to several threatened species.
Had an approval bilateral been in place at the time when the dam was proposed, delegating the final EPBC Act decision on it to the state government, it is certain that the state would have approved the dam being built and severe impacts on threatened species would have occurred.
What changes are proposed?
The “one-stop-shop” policy proposes to enter approval bilateral agreements under the EPBC Act with all state and territory governments, thereby delegating final approval powers over projects to them.
While the <a href="https://www.environment.gov.au/topics/about-us/legislation/environment-protection-and-biodiversity-conservation-act-1999/one-stop">framework</a> so far released to the public reads like a complete handover of all Commonwealth decisions to the states, the Federal Environment Minister qualified the Coalition’s policy before the election when he was the Coalition’s environment spokesperson. He <a href="https://theconversation.com/opposition-plan-to-surrender-environmental-approvals-a-messy-backward-step-15585">said</a> in an interview reported in the Weekend Australian in May 2013 that: “some matters would be reserved where the Commonwealth would be the one-stop-shop but overwhelmingly it would be the states."
The Minister <a href="https://theconversation.com/commonwealth-will-keep-environmental-power-over-state-projects-18688">confirmed</a> in a radio <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/radionational/programs/bushtelegraph/environmental-laws/4978050">interview</a> after the election that the Commonwealth will retain control over decisions involving offshore Commonwealth waters, nuclear actions, and projects for which state governments are “likely to have a significant conflict of interest” as the proponent.
Assuming these promises are fulfilled, they alleviate the <a href="https://theconversation.com/opposition-plan-to-surrender-environmental-approvals-a-messy-backward-step-15585">most significant concern</a> about the one-stop-shop policy: where the state is the proponent they’ll have difficulty making an independent assessment.
 
<figure class="align-centre"><img src="https://c479107.ssl.cf2.rackcdn.com/files/37763/width668/6fcs7y64-1386915087.jpg" width="400"><figcaption>The Saraji coal mine in Queensland Lock the Gate Alliance/Flickr</figcaption></figure> 
What are the likely savings in time and money?
Peering behind the political rhetoric, it is difficult to see how the “one-stop-shop” policy <a href="https://www.liberal.org.au/latest-news/2013/10/16/one-stop-shop-approved-government">will</a> “slash red tape and increase jobs and investment, whilst maintaining environmental standards”.
Under the policy there is no intention to repeal the EPBC Act or reduce the range of projects to which it applies. Only the final decision-maker will change.
For proponents, most of the costs and delay comes in the environmental impact stage. There are already assessment bilaterals avoiding duplication of state and federal governments this stage. Given this, it is difficult to see where significant time and costs savings will be achieved by the policy.
Another reality check for the “one-stop-shop” slogan is that it will only apply to projects that require both federal and state approval. There is no intention to apply federal laws to all projects.
This means that even after the policy is implemented there will still be at least two “shops”: one for the relatively few projects assessed at federal and state levels, and another for the vast bulk of projects assessed only at a state or local government level.
The claims made of the benefits of the “one-stop-shop” therefore appear to be largely political hyperbole.
 
 
<hr>
 Chris McGrath has acted as a barrister in litigation under the laws discussed in this article. He has provided advice to the Commonwealth on aspects of its implementation.
 
 
This article was originally published at <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/explainer-one-stop-shop-for-environmental-approvals-19515">original article</a>.
 
 
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Explainer with Chris McGrath: one-stop-shop for environmental approvals

<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.

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“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.

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[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.

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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.

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[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.

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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.

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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.

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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.

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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.

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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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Jacob Robinson

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