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GUEST OBSERVER
In an Australian first, innovative research from the University of South Australia reveals that strength in numbers could hold the key for people wanting to enter Australia’s property market, with crowdfunding leading the way as an alternative option for new investors.
The groundbreaking study assesses individual investor motivation and appetite for crowdfunding and its potential as an alternative investment vehicle for entering Australia’s tenuous property market.
There’s a lot of debate about the current state of Australia’s housing market, and its inaccessibility, especially first-time homebuyers, who lack foundation capital get their first home.
As crowdfunding works by pooling capital from a large group of people to purchase a property, both the dollar investment and the risk, are spread across multiple players, with people able to make investments as small as $1,000.
This means people of all means and ages can try their hand at property investment, with their return being directly proportionate to their level of investment.
The research conducted by UniSA shows that property crowdfunding is a long-term investment strategy offering low to medium risks, and yielding similar low to medium returns. It attracts a mix of investor types, but has particular appeal to older Australians aged between 55 and 64 years (33 per cent of investors, representing the largest cohort). Only 4 per cent of the respondents were younger than 35 years.
There’s definitely an appetite among older investors for property crowdfunding, but we also know that millennials are using this type of investment vehicle to enter the property market.
While there are fewer millennials using crowdfunding for property investment, those that do, tend to invest greater funds than their older counterparts.
In contrast, older investors make up a greater percentage of the property crowdfunding market, but they tend to diversify their investment portfolios, preferring to hold higher percentages of their portfolios in cash and cash equivalent investment vehicles.
Property crowdfunding forms part of the online alternative finance market which has shown exponential growth over the past few years. According to the Cambridge Centre for Alternative Finance the Asia-Pacific Region alone (excluding mainland China) has shown a 313 per cent  increase to a volume of USD $1.2 billion in 2015 from USD $271.94 raised in 2014. 
Australia is second only to Japan as a participant in the Asia-Pacific alternative finance market.
This strong regional growth is a good indicator that we could expect similar growth patterns in property crowdfunding as alternative investment vehicle in the near future.
Property crowdfunding is still in its infancy in Australia, but as more people become aware and accepting of new digitalised investment platforms, we’re likely to see this market expand.
It is an investment strategy that has the potential to revolutionise the property market.
The results of this research are published in the Property Crowdfunding Australian Investor Perspectives 2016/17 report, developed in partnership with Domacom, one of the largest property crowdfunding platforms in Australia.
 
Dr Braam Lowies is a Senior Lecturer in Property, School of Commerce, University of South Australia and can be contacted <a href="https://www.unisa.edu.au" target="_blank">here</a>.
 
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Crowdfunding opens the door to Australia’s property market: Braam Lowies

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<img src="https://counter.theconversation.edu.au/content/80895/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
It’s time to debunk the myth of zero housing costs in retirement if we want to understand why retirees resist downsizing. Retirees have at least five reasons to be wary of the costs of downsizing.
Retirees living in middle-ring suburbs face frequent calls to downsize into apartments to free up larger allotments in these suburbs for redevelopment. Retirees who fail to downsize into smaller units and apartments are viewed as being a greedy, baby-boomer elite, stealing financial security from younger generations. 
It also makes sense to policymakers for retirees to move into less spacious accommodation and make way for high-density housing. Housing think-tank AHURI fosters this view. Yet seniors remain resistant to moving, in part because of the ongoing costs they would face.
The concept of zero housing costs in retirement is based on a 1940s view of a well-maintained, single dwelling on a single allotment of land where the mortgage has been paid off. This concept is incompatible with medium- and high-density housing and refusing to acknowledge ongoing housing costs may cause significant poverty for retirees. 
<h2>Reason 1 – upfront moving costs are high</h2>
When a house is sold the owner receives the sale funds minus the real estate and legal fees. When the same person then buys a different property to live in, they pay legal fees plus stamp duty. 
For cities such as Melbourne and Sydney, these costs are likely to exceed A$70,000. 
These high transfer costs may mean it is not cost-effective for the person to move. 
<h2>Reason 2 – levies are high</h2>
Because apartment owners pay body corporate levies, people often assume this is just the same as periodic payment of rates, water, insurance and other costs. It is not. 
Fees remissions for low-income retirees for rates, power, insurance and water are difficult to apply within a body corporate environment. As a consequence, these are usually not applied to owners of apartments.
The costs of maintaining essential services, such as mandatory fire-alarm testing, yearly engineering certification, lift and air-conditioning inspections, significantly increase ownership costs. 
When additional services are supplied, such as swimming pools, gyms and rooftop gardens, these also require periodic inspections. Garbage collection, cleaning, gardening, concierge and strata management services also must be paid. 
Owners of standard suburban homes choose whether they want these services, with those on fixed incomes going without them. 
Annual levies for apartment buildings vary, but expect to pay between $10,000 and $15,000. They may be more than this.
<h2>Reason 3 – costs of maintenance</h2>
Lift maintenance is one of many costs that suburban home owners needn’t worry about. 
Apartments are often sold as a maintenance-free solution for older people. The maintenance is not free. It needs to be paid for. 
Maintenance costs are higher in an apartment than a standard suburban home because there are more items and services to be maintained and fixed. Lifts and air conditioning need periodic servicing and fixing. This is in addition to the mandatory inspections listed above.
<h2>Reason 4 – loss of financial security</h2>
It is a mistaken belief that the maintenance costs that form part of the body corporate fee include periodic property upgrades. This relates to items that are owned collectively with other apartment owners. 
Major servicing at the ten-year mark and usually each five-to-seven years after that include painting, floor-covering replacement, and lift and air-conditioning repair or replacement. 
Major upgrades may also include garden redesign or other external building enhancement including environmental upgrades. All owners share these upgrade costs. 
Costs of upgrading the inside of an apartment (a bathroom disability upgrade, for example) are additional again. 
Once the body corporate committee members pledge funds towards an upgrade, all owners are required to raise their share of the funds, whether they can afford it or not. Communal choice outweighs an individual owner’s need to delay upgrade costs. 
Owners who buy apartments that are part of a body corporate effectively lose control of their future financial decisions.
<h2>Reason 5 – loss of security of tenure</h2>
Loss of security of tenure is usually associated with renters. However, the recent introduction of termination legislation in New South Wales gives other owners the right to vote to terminate a strata title scheme. When this occurs, all owners, including reluctant owners of apartments within that scheme, are compelled to sell.
There are valid reasons why termination legislation is desirable, as many older apartment complexes are reaching the end of their useful life. 
Even so, as termination legislation is rolled out across the states, owner- occupiers effectively lose control of how long they will own a property for. They no longer have security of tenure, which means retirees may face an uncertain housing future in their old age.
Because current data sets do not adequately take account of ongoing costs associated with apartment living, the effect of downsizing on individual households is masked. 
Downsizing retirees into the apartment sector creates ongoing financial stress for older people. Creating tax incentives to move does not tackle these ongoing costs.
Centrelink payments for of $404 per week are well below the poverty line. Yet we expect retirees to willingly downsize and to be able to cede most of their Centrelink payments to cover high body corporate costs. 
Requiring retirees to downsize for the greater urban good will shift poverty onto retirees who could barely manage in their previously owned standard suburban home. 
Failing to understand the effect of high ongoing costs associated with apartment living and reinforcing the myth of zero housing costs in retirement will continue to lead to poor policy outcomes.
Erika Altmann is Property and Housing Management Researcher, <a href="https://theconversation.com/institutions/university-of-tasmania-888" target="_blank">University of Tasmania</a> and author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Downsizing cost trap awaits retirees – five reasons to be wary

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Two months after the Federal Budget announcement, property investors have received guidance on the Federal Government’s plan to tighten depreciation deductions available for residential properties.
Depreciation is the tax break for investors who own income-producing investment properties. Depreciation is an important, but sometimes overlooked, component of any investment property’s viability among the nation's two million landlords.
In what was described as an “integrity measure", the Government will limit plant and equipment depreciation deductions for investors in residential investment properties to assets not previously used. Plant and equipment items are usually mechanical fixtures or those which can be easily removed from a property such as dishwashers and ceiling fans.
Plant and equipment used or installed in residential investment properties as of the May 9, 2017 Budget night will continue to give rise to deductions for depreciation until either the investor is no longer owns the asset, or the asset reaches the end of its effective life.
Public consultation on the draft legislation will run until August 10.  
The measure is calculated to claw back $260 million over the next four years of the budget.
The key takeout is that if an investor acquires a second-hand residential property after May 10, 2017, which contains “previously used” depreciating assets, they will no longer be able to claim depreciation on those assets in future tax returns.
It address government concerns that some items were being claimed as tax write-offs by successive investors often in excess of their actual value.
The proposed changes only relate to residential property. Commercial, industrial, retail and other non-residential properties are not affected. 
The building allowance or claims on the structure of the residential building has not been changed. Investors will still need a depreciation schedule to calculate these deductions which typically represents between 80 to 85 percent of the construction cost of a property.
If investors renovate a property that is being used as an investment, they will still be able to claim depreciation on it after the renovations.
Perhaps the most interesting point, according to Washington Brown's quantity surveyor Tyron Hyde, is that while investors purchasing second-hand property can now no longer claim depreciation on the existing plant and equipment, they will have the benefit of paying less capital gains tax when they sell the property. 
Hyde noted what investors would have been able to claim in depreciation under the previous legislation, now simply gets taken off the sale price when it comes to capital gains tax calculations.
Finally it should be noted buyers of brand new property will carry on claiming depreciation exactly the way they have done so to date.
"This is great news for the property industry and the way it should be," Hyde said.
This article first appeared in The Daily Telegraph.
 
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Guidance on the Federal Government’s plan to tighten depreciation deductions

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GUEST OBSERVER
A knowledge city has several characteristics, including diverse knowledge industries, key knowledge-producing infrastructure (such as universities and science parks), and a quality of life that enhances the city’s social and cultural milieu. 
To understand the impacts of these elements we have built a new Knowledge City Index for Australia. The index, released today, enables us to compare the strengths and weaknesses of 25 Australian cities. 
The idea of a knowledge city is not new. But, until now, few have gone further in assessing knowledge cities than definitions to create measures for comparing cities and their knowledge intensiveness. 
While many espouse the achievements of specific cities, few offer a systematic analysis of the factors that drive a knowledge city’s success, or develop a methodology for benchmarking them. 
<h2>Geography still matters</h2>
In a digital age, there’s a tendency to consider knowledge exchange as freed from geographical constraints. The argument goes that barriers of linguistic and cultural differences or legal restrictions imposed by countries no longer constrain knowledge. It can be produced or acquired anywhere and, equally, can be shared globally. 
Though some may proclaim geography irrelevant, we do not share this view. Rather, we argue that propinquity is vital to the development and transmission of knowledge.
One of the fundamental features of knowledge cities and precincts is the proximity of individuals in generating and sharing knowledge, ideas and innovations. 
This proximity generates a culture and conviviality of enquiry. It also allows for the chance acquaintances that supplement formal structures of co-operation. 
This capacity to generate incidental enhancement of knowledge delivers on the expectation that cities are the places where knowledge can best be developed and exchanged.
<h2>The changing nature of work</h2>
And then there are the workers themselves. For workers in knowledge-intensive industries it may be the best of times, as their knowledge, skills, and creativity become increasingly valuable and combine to make them more prosperous. 
For other workers, it could be the worst of times, as their hard-won skills and occupational practice become increasingly irrelevant or obsolete. In many sectors, automation, artificial intelligence (AI), big data and machine learning will make more and more jobs redundant, or at least change them fundamentally. 
It isn’t only unskilled or semi-skilled workers who face these threats in the changing landscape of work. Technological change and associated economic and social transformations will continue to affect many skilled and professional occupations.
This has led some to question the very future of many professions. It is predicted that close to half of the current jobs in developed economies could be automated or otherwise made redundant by 2030. 
<h2>The Knowledge City Index</h2>
How will all of this play out in Australia? 
We know which types of jobs are most likely to decline. We also have some sense of what types of jobs, or at least which sectors, are likely to be most resilient. But this dichotomy of decline and resilience is not equally distributed across the geography of Australian cities. 
To create our index, we examined a total of 25 cities and analysed each of them according to its knowledge capital (the underlying knowledge infrastructure) and knowledge economy (the knowledge activation). We combined six different measures, using a data-standardisation process that controls for the size of cities, to compare all 25 significant urban areas. 
The framework underpinning the index can be used for comparative analysis of cities in other countries. It’s also repeatable over time, so we can understand how cities are changing.
<a href="https://www.propertyobserver.com.au/images/2017/07/27/file-20170719-14138-1viid9u.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/27/file-20170719-14138-1viid9u.jpg" alt="">
<div class="enlarge_hint"> </div>
How 25 Australian cities rate on the six key measures of the Knowledge City Index.
The Knowledge City Index results are mixed.
Five cities in Australia appear to be well prepared for the technological revolution and knowledge transition that are already taking place. Sydney, Melbourne, Canberra, Brisbane and Perth qualify as knowledge cities. The remaining 20 cities have observable knowledge limitations to various degrees. 
Canberra stands out as one of Australia’s leading knowledge cities, despite its comparatively small population and employment bases. Higher proportions of its population have both knowledge capacity and actually work in the knowledge economy than in any other city. 
Cities that have traditionally relied on the manufacturing and mining industries for their employment base lack sufficient knowledge capital and have significant shortfalls in their knowledge economy. 
<h2>A tale of two cities</h2>
The index also provides city portraits that highlight differences between cities. Compare the two largest cities: Sydney and Melbourne:
Click to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/27/file-20170724-11666-d9fqvi.jpg" alt="">
How Sydney and Melbourne compare on the key Knowledge City Index measures.
Despite being nearly identical overall, Sydney and Melbourne do demonstrate nuances in individual indicators that reveal their relative knowledge strengths and weakness. Our analysis produces portraits for all 25 Australian cities. 
For cities such as Sydney, Melbourne, Canberra, Brisbane and Perth, the shift to a knowledge economy promises to be “the best of times”. For the other 20 cities, it could well be “the worst of times” if they are unable to adapt to the knowledge economy. 
Understanding the underlying components of these changes and exploring the social, political and economic implications that stem from them is fundamental. Only then can we know which cities are likely to be most and least susceptible to the uneven technological advancements underway.
<a href="https://theconversation.com/profiles/lawrence-pratchett-208187" target="_blank">Lawrence Pratchett</a> is Dean of Business, Government and Law, University of Canberra.
<a href="https://theconversation.com/profiles/michael-walsh-147733" target="_blank">Michael Walsh</a> is Assistant Professor of Social Science, University of Canberra.
<a href="https://theconversation.com/profiles/richard-hu-7319" target="_blank">Richard Hu</a> is Professor, Faculty of Arts and Design, University of Canberra.
<a href="https://theconversation.com/profiles/sajeda-tuli-390943" target="_blank">Sajeda Tuli</a> is PhD Candidate, Institute for Governance and Policy Analysis, University of Canberra.
All are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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The Knowledge City Index: Sydney takes top spot but Canberra punches above its weight

Household debt high, rising faster than the unusually slow growth in incomes: RBA's Philip Lowe

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SPONSORED POST
DPN has launched a range of architecturally designed investment homes, including a dual income property, to be built to a standard that rivals or surpasses owner-occupied homes. 
One of the common issues property investors have when purchasing is that they end up buying a property they don’t actually like.
In an ideal world, investors would buy properties they want to live in. However, more often than not, investors buy houses that are ageing mutton dressed as lamb. This is not through choice but what’s on the market. Perhaps the house has a hideously outdated kitchen, thin layers of paint hiding decades of mould or poorly designed living spaces. Or, as is often the case, they’re project homes, quickly knocked out without thought to form or function.
Investors see these far too often.
Yet it has clearly shown that a high quality, highly livable property will always be a better investment bet for attracting renters. There are a few simple reasons for this. If you love and enjoy the space you live in, you’ll stay there for the long term. This means rental stability. The better the quality home means a better quality renter. Renters who are happy living in a property are more likely to take care of it.
"Renters who are happy living in a property are more likely to take good care of it and stay longer."
Introducing DPN's architecturally designed investment properties
This may sound obvious, yet what has long been missing is a product that can weave together a good liveable environment with one that maximises capital returns. But this has all changed. DPN has created an innovative property that pulls off the rare trick of pleasing both the investor and the renter. It’s called the DPN Casa series. DPN Casa is a range of investment homes that are architecturally designed to a standard that rivals and even surpasses owner-occupied homes. Included in the DPN range is a Designer Series 5 bedroom home and a <a href="https://www.dpn.com.au/promo/dual" target="_blank">Dual Income</a> home.
DPN Casa also has owner-occupiers interested offering a boutique alternative to a project home at an affordable price. Owner-occupiers can build DPN Casa properties on their own land.
"What makes these properties stand out is the meticulous thought that has gone into the design. Over two years of careful research and work was spent with architects to come up with a designed home that is universally attractive."
What differentiates them from other project homes on the market?
DPN’s Director of Property, Sean Blattman, explains: “Clean lines, efficient use of space and loads of natural light. Large stacking glazed doors and an excellent interface between indoors and outdoors make them very distinctive from what you find out there. The form and functions of the designs are second to none.”
<img src="https://www.urban.com.au/images/2017/06/30/Screen%20Shot%202017-06-30%20at%201.51.19%20PM.png" alt=""> 
<a href="https://www.directpropertynetwork.com.au/casa/dual-income" target="_blank">DPN Casa: Dual Income.  One Property.Two Rents™</a>
DPN Casa includes within its range a dual income home.
It’s a sophisticated architectural design that allows for two self-contained residences on the same block of land.  They function as two entirely separate and private dwellings and use the space superbly. These homes are often cash-flow positive by a significant amount from day one of tenancy.
The key point to remember is the painstaking time and effort that has gone into creating these designs. It has also been thought out in terms of a holistic journey for both the renter and the investor. Blattman explains:
“The finished home should complete the property investment journey for a DPN customer. It’s the culmination of a customer experience that begins from the first contact they have with DPN to arranging finance, construction of the home, having it tenanted, then looking forward to the next purchase.”
The homes all come with the usual building guarantees and warranties that are important for project homes. However, this product goes even further to ensure peace of mind. Blattman points out: “We also provide a fixed priced guarantee - that the price will not increase during construction and that everything included is ready for rental, with no surprise costs. DPN also work with builders that provide a fixed build time with liquidated damages if the home is not delivered on time. This varies from 16 - 26 weeks.”
The DPN Dual Income homes can be built in New South Wales and Queensland at this stage, although our coverage is expanding. DPN Dual Income homes are available as a house and land package or as a build on your own land subject to meeting site survey requirements.
<img src="https://www.urban.com.au/images/2017/06/30/Screen%20Shot%202017-06-30%20at%201.52.29%20PM.png" alt="">
<a href="https://www.directpropertynetwork.com.au" target="_blank">DPN Casa: Designer Series 5 bedroom home</a>
Visually, the home looks stunning. It has a beautiful flow, uses natural light to its absolute best effect and has an exquisite design that remains efficient in terms of its size. A clever use of space means that although the home is technically using the blueprint of a 4 bedroom house, you end up with a five bedroom home and an additional living area - for a similar price. 
A recent Domain survey found that 71% of Australian renters identify the number of bedrooms in a rental property as one of the most important factors in selecting a home. Ample storage also ranked ninth on the must-have list. The DPN Designer 5 bedroom home has all this and more.
You can read the original article <a href="https://www.dpn.com.au/learn/market-updates/an-investment-property-you-ll-want-to-live-in" target="_blank">here</a>.
For more information from <a href="https://www.directpropertynetwork.com.au" target="_blank">DPN</a>. 
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An investment property you’ll want to live in

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GUEST OBSERVER
European cultural and creative cities have stronger economic output and more jobs than their Australian counterparts. So why is our urban creative vibrancy associated with city size, not economic performance?
"Culture nurtures our souls and binds our communities together, while creativity helps reveal new answers to our challenges and anxieties. Industries that build on creativity and culture are also a source of great economic value and social well-being."
So opens the latest European Union report, The Cultural and Creative Cities Monitor 2017 Edition. The report and supporting data represent an effort to measure something we all know is important – the creative vibe of cities. 
Creativity is making its way more and more into policy discussions. Note the European policy announced last year, Towards an EU Strategy for International Cultural Resolutions, and the European Parliament’s resolution to deliver “coherent EU policy for cultural and creative industries”. 
Australia lacks a current national cultural and creative industries policy. There are clear parallels, though, with the national Global Innovation Strategy. Other innovation and creative programs are happening at state level, such as Innovate Queensland.
The European work shows that having cultural and creative cities can deliver significant economic benefits. The positive associations between cultural and creative cities and annual GDP per capita and jobs per capita are clear and strong.
Overall, they also found city size isn’t everything: smaller cities perform just as well as big cities. 
<h2>How do the biggest 36 Australian cities compare?</h2>
We don’t have the data to construct the same metrics as the EU. However, based on the publicly available data from the Regional Australia Institute, we use the Bohemian Index as a proxy indicator for creative economy. 
This index, devised by Richard Florida, measures “the concentration of working artists, musicians, writers, designers, and entertainers across metropolitan areas”.
Australian findings show no association between creatives and city output, measured as gross value added (GVA) per capita. There is only a slight positive relationship between jobs and creativity, as shown below. In contrast, the European Creative and Cultural Cities Index is highly and positively correlated to both GDP and jobs per capita.
<a href="https://www.propertyobserver.com.au/images/2017/07/25/file-20170717-14267-w1hvkb.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/25/file-20170717-14267-w1hvkb.png" alt="">
Figure 1. Bohemian Index of Australia’s 36 largest cities and output (GVA) per capita and jobs per capita.
As we can see, there is a positive relationship between Australian city size and creative employment. This is the opposite of what the Europeans found. 
So what do Australia cities share with European cities in the way of creative economy and economic performance? Basically, there is a positive and strong correlation between a city’s Bohemian Index and new business start-up rate, trademark rate (see Figure 2) and rate of business owners.
<a href="https://www.propertyobserver.com.au/images/2017/07/25/file-20170717-30889-1v3042m.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/25/file-20170717-30889-1v3042m.png" alt=""> Figure 2. Bohemian Index of Australia’s 36 largest cities and trademark applications.
Creativity also has significant positive associations with higher rates of bachelor degree qualifications or higher, housing affordability and commute time. 
Disturbingly for Australia, creativity is positively associated with income inequality (measured as 80:20 ratio) as well. Does this mean that our cities with more creative jobs also have more rich patrons and poor arts students?
Importantly, not all cities perform the same. Our 31 regional cities show a significant and negative relationship between unemployment rates and Bohemian Index. Maybe the metro “Big 5” can learn from our regional city strengths in delivering stronger creativity and lower unemployment. 
<h2>What can Australia learn from Europe?</h2>
Creative and cultural cities are obviously valued as important for global society, but European research clearly shows that these cities are also capable of delivering jobs and strong economic output. 
Do we want all Australian cities to resemble Gladstone, with its high jobs and output, or Hobart, with its strong creative occupations? The Europeans have shown us we can have both in the one city – and not just in the big cities.
Importantly, if Australia follows a policy-transfer approach to creative and cultural cities, we should be cautious. These policies are also promoting economic performance in Europe, but what will they do here when we don’t see the same relationships?
While the latest EU work shows you can measure the cultural and creative aspects of a city, it does stipulate that this is not a be-all-and-end-all metric. It’s more the start of the discussion: how can we better measure our cities’ creativity and cultural values?
Europe uses three metrics (combining quantitative and qualitative data) to gauge a city’s cultural vibrancy, creative economy and enabling culture environment. The work is long and involved. Cities are required to provide information on 29 indicators – number of seats in a theatre, for instance. 
We have just used one metric here, perhaps highlighting that poor data hinders good decision-making. A better measure of creative and cultural Australian cities could have provided different associations. 
Australia is the “lucky country”, so why can’t we have it all – jobs and creativity in all our cities?
<a href="https://theconversation.com/profiles/leonie-pearson-151626" target="_blank">Leonie Pearson</a> is Adjunct Associate, University of Canberra and author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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How can our cities match Europe's for finding value in their creative vibe?

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GUEST OBSERVER
Considering all the aspects of life in Australia that are affected by population, it's remarkable that the nation doesn't have a national policy on it.
Population growth has profound impacts on Australian life, and sorting myths from facts can be difficult. This is the first article in our series, Is Australia Full?, which aims to help inform a wide-ranging and often emotive debate.
Australia lacks an overarching population policy or strategy. Over the years, multiple inquiries have recommended such a policy. Population policies the world over typically focus on births and migration.
As part of post-war reconstruction, Australia adopted a 2% population growth target. Mass immigration was a defining feature, and couples were called on to populate or perish. Immigration was successful, but women were big losers in the push for births.
The 1975 National Population Inquiry proved a significant moment in Australian demography. The inquiry found that Australia should not seek to influence population, but should anticipate and respond.
Population policy was revisited in the 1990s with the National Population Council. Its 1994 report found no optimal population size for Australia, but again called for a responsive population policy of preparedness.
Interest in sustainable population policy was renewed in 2010 following Kevin Rudd’s infamous endorsement of a “big Australia”. We even had a minister for population, Tony Burke, for about six months until the portfolio was expanded. Population was subsequently dropped from any ministerial title.
After an exhaustive inquiry, A Sustainable Population Strategy for Australia was released in 2011. This stopped short of recommending a population policy but removed any option of population limits. Change felt possible in shifting the narrative to a proactive endeavour concerning population matters, particularly evident in the National Urban Policy.
Despite such inquiries and recommendations to adopt a population policy, governments have so far resisted. Unsuccessful attempts at population policy can be understood in terms of difficulties in gaining political support and concerns about coercion.
But national population policy need not be coercive – unlike, for example, in India or China. Instead, it can be a series of targets and connected policy domains with oversight.
Presently, the policy landscape is disjointed. Parenting leave, family and childcare payments, and immigration are each somewhat responsive to population changes, but not prepared. Family payments have been shown not to increase birth rates.
<h2>Births, deaths, migration – and taxes</h2>
The intergenerational reports have been our only glimpse of responsiveness and preparedness. But these have increasingly been criticised for their political tone. Who could forget the Challenge of Change campaign?
What we know is that Australia’s population continues to age, so among the nation’s pressing issues is fewer taxpayers. The total age-related dependency ratio, of people aged over and under working age relative to the working-aged population, was 52 per 100 people in 2016.
While the child-dependency rate (0-14 year olds) is higher than the aged-dependency rate (people 65 and over), the rate of people aged less than 15 has steadily declined as the population aged 65 and over has driven increases in the so-called dependency burden.
<a href="https://www.propertyobserver.com.au/images/2017/07/05/fedwrefedde.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/05/fedwrefedde.jpg" width="700" height="455">
The relative increase in people older than working age is increasing pressure on the economy and government budgets. While government spending on young people is substantial, the highest per person spending is among people aged 65 and over.
A robust workforce contributing income tax and services is essential to ensure current lifestyles are afforded to the young while also sustaining the public spending necessary for people over 65 years who have over their lives contributed to the nation.
With birth rates low and deaths increasing, natural increase is no longer driving Australia’s population. Immigration is increasingly relied on to offset the ageing of the workforce. Over half (54%) of Australia’s population growth is from net overseas migration.
<a href="https://www.propertyobserver.com.au/images/2017/07/05/xdgfchgjhjn.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/05/xdgfchgjhjn.jpg" width="700" height="473">
<h2>Preparing for an older population</h2>
In a 2013 United Nations survey, the Australian government reported concerns about population ageing, a desire to increase the “too low” birth rate, but satisfaction with the level of net overseas migration. Interestingly, a preference for migration away from cities was also cited.
From current policy and discourse, you would not know these views were held. Most Australians also report a preference for the level of immigration to remain the same or be increased, contrary to sentiments we often hear.
Australia has time to prepare for, and make opportunities of, the challenges of an ageing population. Some countries are facing tough decisions now and it is interesting to watch the politics play out. What Japan, China and Germany show is that we need to take action now.
Insightful guides are in place already. South Australia has had a population strategy since 2004. Tasmania recently adopted one.
These state strategies focus on growth to curb economic downturn. What is important in these two cases is that both emphasise policy portfolio linkages, as well as evidence and reporting against targets without coercive measures.
<h2>What is a sensible approach to population policy?</h2>
A renewed, earnest and transparent population conversation is needed. With ever more reliance on immigration, we must go beyond the unhelpful pro-immigration versus pro-nationalism debate to consider our population prospects.
The key question is: how can Australia make opportunities of its demographic challenges?
Australia has the potential to be a global leader in innovative markets and research and development. An ageing population provides an interesting market opening; we just need to be smart about it. Without careful consideration, Australia will be merely a bystander in the increasingly competitive global market.
Policy connectedness should exist between portfolios. These include: health; housing; education, skills and training; employment; infrastructure; regional development; water and energy; environment; and migrant settlement.
We can invest more effectively in young people – our future workforce and economic lifeblood – if we consider a life-course approach to population dynamics. Family friendly, gender-equal workplaces will go a long way to ease the pressures of having children. Integral to this is affordable and accessible child care.
And establishing a ministerial portfolio overseeing population strategy would be a good start.
Liz Allen is a Demographer, ANU Centre for Social Research and Methods, Australian National University and author for The Conversation. she can be contacted <a href="https://theconversation.com/profiles/liz-allen-10193" target="_blank">here</a>.
 
 
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Australia doesn’t have a population policy – why? Liz Allen

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SPONSORED POST
The winds of change are sweeping through Australian lending. It’s making some property investors nervous; but they shouldn’t be. Here’s how to make the current market work for you. 
Bank loans are tightening but still workable 
The banks are changing their loan policies week to week at the moment. Right now we’re seeing an increase in rates for interest only loans by all the major banks. 
Banks have also dropped interest only loans down to 80% for investment loans. That means, if investors want to borrow 90% of the property value they will be forced to pay principal and interest repayments. It’s certainly harder for investors to maximise cash flow and leverage on loans.
This may make you think that now isn’t the time to dip into property investment. You may feel the demand for cash flow is too great. However, you have to adjust your expectations. 
It’s good to step back and take a broader, more holistic view. If it’s hard for you to get into the market then it will be harder for everyone. This makes it a good time to buy. It means there’ll be fewer investment properties and rental yields will go up. So finding a positively geared property is easier in this scenario. That means you’re more likely to find a property where the rental income covers the mortgage and associated costs.  
It’s all about the bottom line 
The main perception is the affordability. Take a trip back to ten years ago to the crunch time of the GFC. Interest rates were a lot higher and you still had to pay a deposit out of your pocket. Right now interest rates are at near record lows.  
So now competition will be reduced, increasing the prospect of getting a bargain when you buy, plus it’s easier to find the sweet spot of getting a positively geared property. 
But what about the extra cash you have to find out of pocket to cover principal repayments with the new shift in investment loans? Yes, you may have to find extra cash, depending on your capital and your loan, but that means you’re paying down debt. Paying down debt is a good thing.  
We may well see interest rates go up in the future. In fact, it’s highly likely this will happen sooner than we think. In which case, if you’ve got in early with a low interest rate loan and a positively geared property you’ll be able to reap the rewards deep into the future. 
So the new frontier is to adjust your expectations when shopping around for a loan. If it does mean paying a bit more out of pocket, remember your ultimate goal is to build wealth. 
Remember loans are flexible. You can adjust them and tweak them to suit your needs at the time. You might want to make it interest only, or make them fixed or a mixture of the two. They’re like levers of a money machine that you should always think about adjusting depending on where you are. 
Depreciation changes 
From the new Federal budget we know that the Government is going to change how depreciation can be claimed on older residential properties. We don’t yet know the full details. We do know “plant and equipment” items will be affected: this includes dishwashers, ceiling fans and other fixtures.  
What does this mean for the investor? Unless you paid and bought the fixtures yourself and have remembered to keep the receipts, or bought the property brand new, you can’t claim these back. Therefore I strongly recommend looking at buying newly build properties. These allow you to claim depreciation and, being new, their immediate value is always greater, plus they are very attractive to renters. 
Finally, remember that there’s not just one property market in Australia, but as many markets as there are suburbs. There will always be a opportunity in one of those markets. The demand for property in this country hasn’t cooled and, if you can navigate through the new financial waters you’ll be able to harvest excellent long term rewards.
For more information from <a href="https://www.dpn.com.au" target="_blank">DPN</a>.
David Khalil is DPN’s Director of Finance and can be contacted <a href="https://www.dpn.com.au/" target="_blank">here</a>.
David has over 19 years experience within the finance and banking industry. With positions ranging from NSW State Manager at Refund Home Loans, Senior Account Manager at National Mortgage Company to Business Development Manager at Home Loan Centre Australia, he has played an integral part in establishing the mortgage management company Domain Home Loans. David has acquired essential skills and capabilities to design and streamline mortgage process systems, manage employee relations and improve both internal affairs and dealings with clients.
David has a variety of interests including writing his book, “When All Else Fails, Succeed”. He enjoys travelling and spending time on the beach, soaking up the sand, surf and sun while reading biographies. This is a great way to relax before he heads off to play a game of basketball. 
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How to get your property investment loan in the current financial climate 

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<img src="https://counter.theconversation.edu.au/content/81261/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Some franchisees of hardware chain Mitre 10 are calling for an end to “company-owned” stores. These are stores owned and run by Metcash, which owns the Mitre 10 brand and is a supplier to the franchisees.
But research shows that brands with a mixture of franchised and company-owned stores are not only more profitable but also more valuable than brands that are purely franchised. Company-owned stores are a win-win for franchisees and franchisors.
As we have seen with the likes of McDonald’s and Bob Jane T-Marts, company-owned stores have various functions. They may be “flagship” stores in prominent locations, making them a marketing tool. They can also be places for experimentation with new products, technologies, store concepts, and prices.
Some franchisors have also used company-owned stores as mini-warehouses to supply other stores within a trade area. Finally, company-owned stores expand the network, lowering costs for the whole franchise and acting as a barrier to entry for competitors.
The benefits of all these measures are not always obvious or measurable by franchisees. For example, the average franchisee won’t appreciate the research and development costs incurred by a company store for a new training program or product. Franchisees only see the final result.
Tensions between franchisees and franchisors
There can be a legitimate tension between franchised and company-owned stores. For instance, company-owned stores may have greater access to resources such as local area advertising and staff training, preferential pricing and access to stock, and even favourable trading terms.
This can be unsettling for franchisees who feel they are not only competing against other brands but also their own. This is called “encroachment” and can damage the brand in the long run.
In a case between McDonald’s and a franchisee, the Victorian Supreme Court found that McDonald’s could open new stores even if they potentially impact the existing franchisee. Opening new stores creates a barrier to entry for competitors, increases sales, and thereby lowers the costs of products for both franchisees and company-owned stores. This shows that even an action that may appear harmful can have wider benefits.
The huge difference in business models between franchisors and franchisees can also be a source of tension.
Franchisees are retailers. They need to buy the products they are selling as cheaply as possible while incurring the least amount of cost. In doing so they will maximise their retail profit. On the other hand, franchisors are like a wholesaler. They rely on the profit they make from selling products to franchisees. So franchisors can afford to lose money in company-owned stores, making up the difference by selling products wholesale to franchisees.
A happy medium
But as the research clearly shows, for franchisees the benefit from company-owned stores - from marketing, research and development, and training - outweighs the negatives. Nevertheless, some things should change to keep the peace.
For starters, every company-owned store should operate like a franchise. Franchisees have been found to perform better than company-owned stores. Franchisees have skin in the game and are motivated by the bottom line of their stores.
What this means in practice is that all stores should make the same contributions to a marketing fund, buy products at the same price, and observe the same retail pricing structure. Company stores should have the same relative local advertising budget as franchisees, have the same stock-holding requirement (quantity and range), and company store managers should face the same performance criteria as franchisees.
Company stores might not perform as well at the bottom line, but overall they add value to both franchisors and franchisees.
<a href="https://theconversation.com/profiles/lorelle-frazer-189491" target="_blank">Lorelle Frazer </a>is Professor and Director, Franchising Centre, Griffith University.
<a href="https://theconversation.com/profiles/maurice-roussety-320016" target="_blank">Maurice Roussety </a>is Lecturer- Franchising and Marketing, Griffith University.
Both are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Both franchisees and franchisors benefit from company-owned stores

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Jonathan Chancellor

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