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Australia’s long run of “home ownership for all” appears to have ended. 
Smashed avocado aside, young people are now much less likely than their parents to ever own their own home. Almost one-third of the nation rents, mainly from private landlords. 
Governments have gradually shifted the focus of welfare away from public housing and towards subsidising housing in the private rental market. At last count, around 1.3 million households were receiving government rental assistance – that’s around one in five Australian households receiving on average A$128 per fortnight. 
As the private rental sector expands and the cost of housing rises, it is important to acknowledge that the effects of unaffordable housing cascade into other areas of life, in particular, mental health. 
Our research has found unaffordable housing has a negative effect on mental health. And it’s worse for private renters than those with a mortgage. When lower-income private renters’ housing becomes unaffordable, their mental health worsens. This doesn’t seem to happen for people on similar incomes paying a mortgage. 
It’s different in the UK. Our cross-national comparison conducted before austerity measures were taken in the UK suggested more generous benefits and conditions may have protected their lower-income private renters from the mental health effects experienced by their counterparts in Australia. 
While this work highlights the potential protective effect of affordable housing, recent changes in the UK as a result of austerity measures may have taken the Brits backwards. 
<h2>A ‘natural experiment’</h2>
A recently published analysis tracked the effect of a national reduction to government-provided rent assistance in the UK. 
In April 2011, austerity measures in the UK resulted in a reduction of the rental housing assistance payment. This meant that incomes for rent assistance recipients fell, on average, by approximately £1,220 (A$2,000) per year. Some people experienced much smaller declines, but many witnessed much larger reductions in their housing benefit. 
Although not without methodological challenges, the research found reduced government support to meet housing costs has a negative impact on people’s mental health. The policy caused a measureable population-wide increase in depressive symptoms, with around 26,000 people experiencing symptoms for the first time.
<h2>Lessons for Australia</h2>
Affordable housing is an effective health intervention. Australia has some of the world’s least affordable housing, and while we debate the solutions to this (such as removing negative gearing), government assistance to meet housing costs protects many people from poor mental health, and possibly, depression. 
As World Medical Association president Professor Michael Marmot argues, housing is a form of preventative health care. The one in five Australian households relying on government assistance to pay their rent are currently receiving this form of preventative health care. 
Households that receive private rent assistance gain more than just shelter. Rent assistance may allow people to live nearer to good schools, buy healthier food for their kids, and provide some residential stability. It also protects their mental health. 
Cuts to private rent assistance may do the opposite: pushing people away from good schools, leaving them without adequate food, and exposing them to housing insecurity. As the UK work shows, even slight changes to policy can have major (and often unintended) effects, particularly for mental health. The most economically vulnerable are likely to be disproportionately affected. 
As we enter an era of substantial reassessment of the structure of welfare in Australia, this UK research highlights the importance of harnessing natural experiments to systematically test the outcomes of broad policy change, and develop evidence on which to build better health into the future. 
While Australia’s cohort of private renters grows and housing affordability stress escalates, we need to ensure that health, well-being and productivity are supported. We need to address the structural factors that contribute to our housing affordability crisis. We also need to support people who are disadvantaged by it. We shouldn’t underestimate the importance of getting housing right.
Rebecca Bentley is associate professor, Centre for Health Equity, Melbourne School of Population and Global Health, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/rebecca-bentley-173502" target="_blank">here</a>.
Aaron Reeves is associate professorial research fellow in Poverty and Inequality, London School of Economics and Political Science and can be contacted <a href="https://theconversation.com/profiles/aaron-reeves-298453" target="_blank">here</a>.
Emma Baker is associate professor, School of Architecture and Built Environment, University of Adelaide and can be contacted <a href="https://theconversation.com/profiles/emma-baker-172081" target="_blank">here</a>.
All are authors for The Conversation.
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Housing: the hidden health intervention

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The ongoing uncertainty over the future of the Hazelwood power station in Victoria’s Latrobe Valley has raised the prospect that the ageing generator will be shut down in the near future. 
The power station has a nameplate capacity of 1.6 gigawatts, which represents 22 percent of the coal-fired generation capacity in Victoria, and 6% of the total coal-fired capacity in Victoria, Queensland and New South Wales combined (South Australia no longer has an operating coal-fired power station).
Coal-fired power stations provide the bulk of the “baseload” electricity requirements in the National Electricity Market (NEM). Baseload refers to generation that meets the minimum demand, and from an economic point of view this is best delivered by generation that produces constant, reliable output. Brown coal provides the cheapest baseload power – or at least, it does if we’re prepared to ignore factors such as the long-term costs of climate change.
So if Hazelwood departs the market, as one of the cheapest generators in the NEM, it seems logical that electricity prices will increase. The extent of that increase will depend on what takes up the slack. So what can we expect to happen?
<h2>On the decline</h2>
Until 2007, average electricity demand in the NEM had increased every year since the grid was first built. But after that demand started to fall. The reasons are varied, including increasing takeup of rooftop solar panels, improved efficiency of lighting and appliances, and reductions in industrial demand. 
Looking at July (when baseload electricity demand is typically at its highest), the average demand has fallen from 25.4GW in July 2007 to 22.9GW in July 2016, a reduction of 2.5GW. 
But there has also been significant retirement of coal-fired generation capacity in Australia since 2010, driven partly by the retirement of old power plants, and partly by the costs associated with the carbon price, which ran from 2012 to 2014. 
The retirees include Morwell and Anglesea in Victoria (0.2GW), Playford B and Northern in South Australia (0.8GW), and most significantly Redbank, Wallerawang and Munmorah in New South Wales (2.5 GW). This adds up to a total of 3.5GW of coal-fired capacity shut down this decade.
This means that more capacity has been retired than the baseload demand has decreased. So in theory, the retirement of another baseload power station at Hazelwood would result in even more tightening of the balance between supply and demand. 
But if we look at the current average capacity factors of the remaining coal-fired power stations we can see that many of the larger ones, in NSW in particular, are running at very modest capacities. For example, Liddell has been running at 43% of its total capacity for the past 12 months, and Eraring at 59%. Across the NEM the average is 65%. 
Now, of course some of this generation is used when the demand increases during particularly hot or cold weather, but most of this “peaking” demand is supplied by hydro and gas. So while baseload is not the only way to meet demand in the energy system, there nevertheless seems to be plenty of baseload available.
Why are coal-fired stations running at such low levels? One reason is that while demand has been falling, there has also been an extra 4GW of wind power capacity added to the grid. Meanwhile, several new plants were commissioned in the years leading up to the peak in demand, with the expectation that demand would continue to rise. These plants include Callide C, Millmerran and Kogan Creek, which add up to 2.7GW.
If Hazelwood shuts down, it would be reasonable to expect that the remaining coal-fired generators in the grid will take up the slack. The generators in Victoria are running at relatively high capacity factors, so we might expect that NSW generators will increase their output. The interconnector between Victoria and NSW currently sends Victorian electricity into NSW, but it can reverse that flow if required.
One reason why Victorian power stations are running at higher capacities is because they are cheaper to run. ACIL Tasman figures from 2010 show short-run marginal cost (the cost to run a power station in addition to fixed costs) in Victoria is around A$2-5 per megawatt hour, compared with A$12-17 per MWh in NSW.
Predicting what will happen to electricity prices in the future is harder than picking the winner of the Melbourne Cup, so making an exact price forecast is tricky. But if the hole left by Hazelwood’s retirement is filled by the excess capacity in NSW, then all things being equal the impacts on the overall costs of running the system would be modest.
Still, the NEM is very complex. Generators (especially in Victoria) are privately owned and will adjust their market strategies to take advantage of the tightening of supply. Meanwhile, the growing market share of renewables, the potential for electricity demand to begin rising once again, and the possibility of further coal closures, all mean that the full impact of the retreat of coal-fired power is yet to be seen.
Roger Dargaville is deputy director, Melbourne Energy Institute, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/roger-dargaville-1832" target="_blank">here</a>.
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Hazelwood’s closure won’t affect power prices as much as you might think

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The solution to Sydney’s affordable housing problems is contained in the existing legislation and recommendations of the Affordable Housing Taskforce as outlined on the Department of Planning’s website.
The Affordable Housing Taskforce report to the Coalition Government in 2012 clearly stated that the private sector will not enter the affordable housing market without incentives (Action 5).
The Affordable Housing Taskforce report said ‘These incentives have been particularly attractive where the bonus represents significant value’(Cl 4.12). 
The Taskforce report supported the principle of the Affordable Rental Housing State Environmental Planning Policy (SEPP) as a good way to generate affordable housing.
The Urban Taskforce, representing property developers, has presented to the NSW Government a clear strategy to produce 40,000 affordable homes over a 10 year period by slightly changing the NSW Government’s current incentive in the Affordable Rental Housing SEPP.
The current Affordable Rental Housing SEPP is based on rental housing being for a period of 10 years through ‘a restriction on the occupation certificate against the title of the property’ (Cl17) and the Urban Taskforce proposal uses exactly the same definition.
Since the Affordable Rental Housing SEPP was introduced a relatively small number of affordable homes have been produced because the incentives have been too low. With a lifting in the incentives thousands of affordable housing homes can be built in metropolitan Sydney.
The Coalition Government’s Taskforce raised concerns that inclusionary zoning would only work where land value was high. ‘Inclusionary zone policies have been shown to work most effectively in high value land locations and have limited application in lower cost markets.’ (Cl 4.14). The Urban Taskforce approach is an incentive that is adjusted to all suburbs irrespective of land value.
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It seems that the approach now preferred by the Greater Sydney Commission is to force inclusionary zoning as a tax on new housing development. While this may work where land value is high, like Vaucluse, it is unlikely that the suburbs that really need affordable housing will benefit.
The Urban Taskforce is keen to work with the NSW Government to generate thousands of new affordable homes across Sydney. To simply force a new tax on the development industry in Sydney will act as a disincentive on the private sector to provide homes. By default it will be the NSW Government who will need to provide massive numbers of affordable homes.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Affordable housing solution for Sydney is contained in Planning Department Policies: Chris Johnson

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GUEST OBSERVER
The ABS quarterly survey “Building Activity” provides detail on the non-residential building sector. Here we reassess conditions and prospects for the sector.
Hereafter ‘building’ refers to ‘non-residential building’.
<a href="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%201.52.08%20PM.png" target="_blank">Click to enlarge</a> <img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%201.52.08%20PM.png" alt="">
In summary, private building activity weakened over the first half of 2016, puncturing a five year upswing. Our assessment remains that the near-term decline in private activity will be relatively modest, a view supported by the recent improvement in approvals and commencements.
By contrast, total building activity (which includes public works) is likely to be resilient. Notably, the public sector has loosened the purse strings, committing to much needed social infrastructure. Public building approvals and commencements have lifted sharply from their lows.
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State by state, conditions are varied and more nuanced than a mining / non-mining divide, as discussed below.
Activity: Real private building activity has weakened in 2016, falling by 4.2% in Q1, followed by a flat Q2. That follows a 31% expansion in the five years to end 2015, including a 7.8% increase in 2015. The level of activity in the Q4 2015 was 4.6% above the previous peak of end 2008, ahead of the GFC impacts.
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Public works in 2016 are in the beginnings of an upswing. Activity rebounded by 6.1% in Q1 and rose a further 11.9% in Q2. Prior to this, activity declined through 2011 to 2015, unwinding the 2009 fiscal stimulus package.
Total real building work was flat over the first half of 2016, with a 2.2% fall in March reversed by a 2.4% June, to be broadly unchanged from a year ago (+0.6%).
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Total commencements strengthened in 2015/16, increasing by 14% to $33.6bn, a rise of $4.1bn, largely reversing the 16% decline in 2014/15. In the June quarter, commencements were $8.5bn, in line with the annual pace.
The public sector led the way in 2015/16, with commencements up 41% to $8.8bn, (+$2.6bn), with rebounds in health, education and strength in social buildings more generally. This has public commencements at their highest level since 2011/12.
Private commencements also rose in 2015/16, +7%, following a 16% fall the year prior, centred on: retail; entertainment &amp;recreation; and accommodation.
The pipeline of work outstanding peaked at a relatively high level in mid-2014, at $27bn in total ($21bn for the private sector). The pipeline was progressively reduced, moderating to $19bn by the end of 2015 ($14bn private). Over the past half year, the overall pipeline of work stabilised, edging up to $20bn, while that for private projects edged lower, down to $13bn. 
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Commencements and approvals 
Private sector commencements were valued at $24.9bn in 2015/16, an increase of 7% on the year prior, +$1.6bn, partially reversing the 16% decline in 2014/15. The rebound was centred on: retail, +$0.9bn; entertainment &amp; recreation, +$0.7bn; and accommodation, $0.6bn.
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Private commercial building commencements (centred on retail and offices) have improved following a sharp fall in 2014/15. In 2015/16, commencements for the segment were valued at $11.0bn, +10% on the year before. That is below the 2013/14 outcome of $13.0bn and the earlier peak of $15.7bn in 2007/08. 
For retail, while consumer spending has been lacklustre at the national level, commencements are elevated supported by increased competition. In the office segment, commencements have stabilised at a low level, +6% in 2015/16, after falling sharply in 2014/15, down 39%. The outlook for offices is heavily influenced by the mining / non-mining growth divide.
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An area of strength is ‘social infrastructure’. Within this segment upswings are evident in accommodation (including hotels and student apartments) and aged care facilities, as well as strength in entertainment &amp; recreation, and a rebound in education. In 2015/16, commencements for social infrastructure rebounded by 9%, to $9.8bn, only 5% below the historic high of 2013/14 and up from $5.8bn in 2007/08. The segment now accounts for 40% of total private commencements. 
The more timely building approvals data, which is available to August, confirm that we are likely past the low point in this cycle. 
Private building approvals for the 12 months to August are 3% above those for the year before, reflecting gains in social infrastructure, +8%, and industrial, +17%. However, private building approvals remain 10% below the recent peak, which was for the year to February 2014.
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State-by-state 
Building conditions across the states are quite varied and the outlook is more divergent than is implied by a simple mining / non-mining growth divide. 
As at the national level, the importance of social infrastructure projects, a lift in public investment, and resilience in the retail sector add nuances to the state-by-state picture.
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The value of building work nationally grew by 2.3% over the year to the June quarter 2016, +$0.2bn (although in real terms, work was broadly flat, up 0.6%). By state, the value of building work made solid gains in NSW and Qld, as well as Tasmania, with largely offsetting falls in Victoria, WA and South Australia. 
Commencements strengthened in 2015/16, up $4.2bn nationally, a move that was centred on gains in Qld , as well as a strengthening of public works in the smaller states.
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In Qld, commencements rebounded partially in 2015/16, up $1.9bn, following a sharp fall in 2014/15. It was private social infrastructure, as well as public works, that led Qld commencements higher in 2015/16, including: accommodation, aged care facilities, education, and entertainment &amp; recreation. 
Public building commencements in the smaller states and in the territories jumped to $2.7bn in 2015/16, up $1.6bn on 2014/15. A partial rebound in NSW public commencements, +$0.7bn, was another mover in 2015/16. 
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On a state by state basis, current conditions and the near-term building outlook are, in summary: 
In NSW: real building work grew by 7% over the past year. This lift in activity was supported by reducing what was a sizeable pipeline of work outstanding. Near-term, the value of activity is vulnerable to a pull-back from current elevated levels, which are around 20% above commencements. Beyond that, the outlook is positive, reflecting the sound fundamentals for the state and expansionary state fiscal policy. 
In Victoria: real building work declined by 6% over the past year, partially reversing the upswing of the previous couple of years. An emerging stabilisation in activity is likely in coming quarters, ahead of an improvement, supported by the recent strengthening of commencements and approvals, and underpinned by positive fundamentals. 
In Qld: real building work rebounded over the past year, up 12%, following the softer tone evident since 2011 which was associated with the winding down of the mining investment boom. As noted above, commencements bounced back in 2015/16, up on private social infrastructure and public works. The modest lift in the work pipeline will be supportive of activity near-term. Further out, key will be whether some sizeable tourism projects receive the go ahead in response to rising demand, including from international visitors. 
In WA: real building work trended lower over the past year, down 7%, extending the downturn which emerged from the start of 2012 associated with the turning of the mining investment cycle. Conditions are likely to remain subdued as the state continues to feel the impacts from the mining investment downturn, notwithstanding stronger commencements in the June quarter, centred on retail.
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In South Australia: building work weakened over the past two years, including a 9% fall in the year to June 2016, as work on the Royal Adelaide Hospital was progressively completed. Conditions are set to turnaround in coming quarters, led by the public sector, with work progressing on the $0.23bn University of South Australia’s Health Innovation centre and the $0.2bn Adelaide University Medical and Nursing school. 
In Tasmania: building work has begun to recover, led by the public sector. This follows four years of subdued conditions which emerged after the impacts of the Federal government’s fiscal stimulus package of 2009/10. The value of building work for the 2015/16 financial year as a whole was 14% above the level of the year prior. There is further upside, supported by the now relatively sizeable work pipeline, which stands at $0.68bn currently, up from around $0.25bn a year earlier. The $0.7bn Royal Hobart hospital redevelopment is the largest project under construction and work on this has a good deal to run. 
Andrew Hanlan is senior economist for Westpac and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/andrew-hanlan/3/222/430" target="_blank">here</a>. 
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Private building activity weakened over first half of 2016: Westpac's Andrew Hanlan

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Housing credit growth firm but business credit growth is slowing.
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The 5.4 percent rise in total credit over the year is low by historic standards. But Australia’s stock of private debt is still growing faster than nominal GDP which means overall leverage in the economy is rising. 
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The increase in leverage is being driven mainly by the household sector. And the debt is going into bricks and mortar. 
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Housing credit has been expanding by around 0.5 percent a month over the past six months. But the annual growth rate has been falling over that period. The stock of housing credit was growing at 6.4 percent/pa in September. It looks like it will stabilise around this level over the near term.  
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Despite the annual growth rate of housing credit cooling, the pace of growth is still well above national income growth. This means that the household debt- to-income ratio is rising. It is currently at a record high and puts Australia in the top tier of household indebtedness globally. As the RBA noted in its October Financial Stability Review, “household indebtedness continues to drift up and, with incomes growing more slowly than in the previous decade, households may not be able to rely on income growth to make their debt easier to service.” 
Credit to owner-occupiers grew by 0.5 percent in September and is up 7.3 percent through the year. The stock of debt to investors rose by a slightly higher 0.6 percent over the month and annual growth lifted a little to 4.8 percent. Investor credit growth 55 has been accelerating month on month for the past six months which is consistent with other indicators of activity in the housing market. The lift in investor-related credit shows that the May and August rate cuts had a stimulatory impact on the housing market.
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Business credit growth has been limp over the past five months after accelerating earlier in the year. The trend in business credit is a little concerning because it suggests that non-mining private capex is likely to be soft over the near term. Fortunately public capex is starting to lift after falling as a share of GDP for most of the past six years. This will need to continue to support aggregate demand if private investment is going to remain soft.
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The “deleveraging” in other personal credit continues. Personal credit is down 1.3 percent over the year and reflects the lack of appetite for consumer debt outside of housing. 
Broad money was flat over September and stands 5.8 percent higher through the year. 
Gareth Aird is economist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905" target="_blank">here</a>.
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Housing credit growth firm, business credit growth slowing: Gareth Aird

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Standard &amp; Poor's has placed 25 second tier Australian banks, insurers and buildings societies on negative watch as it becomes concerned about rising household debt and property values.
The change in ratings comes as the agency adjusted its assessment of Australia's economic risk trends from stable to negative. 
While S&amp;P said that growth in debt and property prices would likely moderate, there was a one in three chance that the strong growth would continue, leading to increased risks of a sharp correction that would hurt lenders. 
Among the largest institutions impacted are AMP Bank, Bank of Queensland, Bendigo and Adelaide Bank, Macquarie whose current ratings were placed on negative outlook.
Several other building societies and regional lenders such as Cuscal and CUA also had their ratings outlook revised to negative.  
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<div>The ratings outlooks of the major banks had already been placed on negative outlook because of the action taken on the AAA Australian sovereign rating.</div>
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<div>S&amp;P said that private sector debt as a percentage of GDP had grown to 139 per cent  to 118 per cent in 2012, an average increase of 5.2 per cent while property prices had increased by 5.3 per cent, after adjusting for inflation.   </div>
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"Strong growth in private sector debt (to about 139 per cent of GDP in June 2016 from 118 per cent in 2012, or an annual average increase of 5.2 percentage points) coupled with an increase in property prices nationally (average inflation-adjusted increase for the past four years was 5.3 per cent nationally) are driving the potential increase in imbalances in the economy, in our view.
"Consequently, we believe the risks of a sharp correction in property prices could increase and if that were to occur, credit losses incurred by all financial institutions operating in Australia are likely to be significantly greater; with about two-thirds of banks' lending assets secured by residential home loans--the impact of such a scenario on financial institutions would be amplified by the Australian economy's external weaknesses, in particular its persistent current account deficits and high level of external debt."
The impact of any sharp drop in property prices would be greater on banks, because more than 60 per cent of their loans were for residential property, it said.
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One in three chance of strong growth triggering sharp correction in property: S&P

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Sydney's Paddington had its own dilapidated terrace auction offering. 
The <a href="https://www.realestate.com.au/property-terrace-nsw-paddington-123733818" target="_blank">45 Iris Street</a> offering sold for $1.19 million - $190,000 more than it was purchased for just eight months ago.
The uninhabitable two bedroom terrace had three bidders with it sold to an investor who will implement the recently obtained $600,000 development approval.
The terrace had been the home of the late artist Christina Coombes who had bought it in 1965 for £3200.
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Derelict Paddington terrace fetches $190,000 more

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<img src="https://counter.theconversation.edu.au/content/67053/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Many of the iconic coastal villages of Australia have a close association with professional fishing. In New South Wales, towns up and down the coast historically supported fishing fleets which supplied the seafood needs of locals, Sydney and the broader state community. 
But the NSW fishing industry has changed significantly in the past 30 years, in response to a range of environmental and community concerns. People are more worried about the number of fish, habitat impacts, and how access to fish should be allocated.
There have been changes and restrictions on licences and fishing gear, quotas for some species and fisheries, and a substantial reduction in fishing areas through the expansion of marine parks and the creation of recreational fishing havens (where all professional fishing is banned). The number of current fishing licences in NSW is just a quarter of what it was during the industry’s peak in the 1970s and ‘80s. 
<a href="/images/2016/10/31/image-20161018-12416-tqff2c.png" target="_blank">Click to enlarge</a>
<h2><img src="/images/2016/10/31/image-20161018-12416-tqff2c.png" alt=""></h2>
Estimated NSW fishing licence holders 1881-2016 Wilkinson, 2013, Wilkinson, 1997 and NSW Department of Primary Industries
The industry is currently going through more management changes and an expansion of existing marine reserves into Commonwealth waters.
There will be more challenges in the future. As populations grow, there will be more competition for resources, and pressure from recreational fishers to close more of the ocean to professional fishing. Similar campaigns in Queensland and Victoria have prompted changes to the professional fishing industry, with unknown impacts on local communities. This has led to serious concerns about the ongoing viability of the industry in some regional centres. 
<h2>How much is fishing worth?</h2>
We recently carried out a two-year assessment of the ways professional fishing contributes to the social and economic lives of NSW coastal communities. We assessed how the industry contributes to seven key dimensions of community well-being. 
We traversed the NSW coast speaking to the breadth of the community, through interviews and surveys. We found that the industry remains a vital ingredient for maintaining the economic, social and cultural richness of coastal communities. 
In particular our approach highlighted the importance of considering both social and economic factors, and the interdependence between sectors, when judging the value of professional fishing to communities. 
The economic assessment revealed that the industry contributes more than A$436 million in revenue annually to the NSW economy and accounts for about 3,290 full-time jobs. This includes the fishers, service industries, sales and marketing.
This is a significant increase over previous estimates of the industry’s value, which did not include the “flow on” economic impacts to other businesses that rely on the fishing industry. These contributions are especially valued in smaller, regional communities where fishing still plays a central role in local economies.
For instance, Kari Esplin, secretary of the Eden Chamber of Commerce and a local business owner, told us:
Economically I see the fishing industry as a baseline in our community … it’s something that’s been there for a hundred years providing a steady economic benefit to the town and the region … It also has the benefit of being a sustainable fishery, not only from the point of view of its fishing practices, but also from a family point of view. So it’s the type of business that can be handed down through families if they choose, which builds a sense of tradition in the town, and also gives those families a feeling of self-worth that they’re a second, third or even fifth generation family business.
Looking beyond economic data gave us an insight into role the industry plays in other areas of community life. Professional fishers, for example, regularly participate in search and rescue. 
Seafood is central to many cultural celebrations such as Christmas and the Lunar New Year. And fishing and long standing fishing families are part of the cultural heritage of many communities.
<h2>Seafood tourism</h2>
The research also revealed sometimes hidden or unrecognised relationships between different sectors. In particular, professional fishing and tourism support and sustain each other in NSW coastal communities. 
We found that 89% of NSW residents expect to eat local seafood when they visit the coast and 64 percent indicated they would be interested in watching professional fishers at work while on holidays. 
Grahame Lewis, the Nelson Bay Co-Op manager, told us:
People love watching – they come down and watch the boats unload, they see what sort of fish are coming in, they see it getting wheeled over to the shops and they know there’s stuff going in there from the local fishermen. It’s a drawcard really. People love going to seaside ports and just watching – not only here but everywhere along the coast.
Recreational fishers were much more likely to be interested in both buying fish from local professional fishers and watching professional fishing. This seems at odds with the messages of conflict between recreational and professional fishers commonly seen in public debate. Likewise 78% of recreational fishers across the state prefer bait caught by NSW professional fishers.
Professional fishing is also economically and culturally important in many coastal Indigenous communities. Indigenous fishers have a long history in the industry. Fishing still plays an important role in providing income, employment, a nutritious food source, independence and pride. This extends into the broader Indigenous community with fishers sharing a proportion of the catch and important cultural knowledge with kin. 
Efforts to improve the environmental sustainability of the industry have been largely successful, and this is continuing to improve. Studies like ours give us an insight into how we can also ensure the economic and social sustainability of the industry, given its integral role in many coastal communities. 
Nearly all (94 percent) of NSW coastal residents believe the fishing industry should be maintained in NSW. Our research gives us insights into how we can achieve this. And what we stand to lose if we don’t get it right.
Michelle Voyer is postdoctoral research fellow, University of Wollongong and can be contacted <a href="https://theconversation.com/profiles/michelle-voyer-81106" target="_blank">here</a>.
Alistair McIlgorm is professor of Marine Economics, University of Wollongong and can be contacted <a href="https://theconversation.com/profiles/alistair-mcilgorm-121881" target="_blank">here</a>.
Kate Barclay is associate professor, University of Technology Sydney and can be contacted <a href="https://theconversation.com/profiles/kate-barclay-3530" target="_blank">here</a>.
All are authors for The Conversation.
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Fishing is worth more than jobs and profits to Australia’s coastal towns

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The most expensive house to sell at weekend auction in Melbourne was a derelict four bedroom heritage home in Hawthorn for $2.815 million.
It was roofless! Decaying over the past decade, then nearly <a href="https://www.realestate.com.au/sold/property-house-vic-hawthorn-123697414" target="_blank">destroyed by fire two years ago</a>.
Most Melbourne agents - and their vendors and buyers - took the weekend off for the spring racing carnival.
But Marshall White agent Duane Wolowiec saw the opportunity to run a lengthier five week marketing campaign for his tricky listing that gave prospective buyers extra time to become convinced it was a punt they'd be prepared to take on.
The top sale at Hawthorn was a 1000 sq m offering on the Lisson Grove estate which since the 1870s had been regarded as one Hawthorn's most fashionable avenues given the lovely Victorian homes set in large gardens.
Number 65 was one of four single storey villas built between 1884 and 1886 by the Troon family featuring a symmetrical façade with double bay windows.
"We have five young families bidding" Duane Wolowiec said. 
"There are strict heritage restoration conditions including the need to install slate roofing," he said.
Most buyers thought the restoration would cost at least $1.5 million, he added. Hawthorn's median house price currently sits at a record $1.85 million, according to CoreLogic.
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Roofless house fetches $2.8 million

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<img src="https://counter.theconversation.edu.au/content/67834/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
In it’s latest report, the Australian Securities &amp; Investments Commission (ASIC) found the big four banks sold products to some customers through their adviser network, with a fee for ongoing advice, but the advice was never given. 
None of this came to light until the banks were asked by ASIC to look at adviser compensation, following the introduction of the Future of Financial Advice (FOFA) legislation in 2013. 
No wonder the banks were wary of their practices being investigated. Not only has it come to light that many customers (176,000 at the last count) were being charged for services they were not receiving but, in many cases, the banks didn’t have the data they needed to find out whether customers had been dudded or not. 
And ASIC is pretty sure why such systemic issues emerge at regular intervals, stating:
Cultural factors in the banking and financial services institutions covered by this report may have contributed to the systemic failures we observed. 
The ASIC report details the reason for the cultural failings it observed in the wealth management businesses of the major banks:
Some advice licensees prioritised advice revenue and fee generation over ensuring that they delivered the required services.
ASIC found that the IT systems in wealth management in the major banks were stone-aged at best. The banks appear to have no idea what they don’t know, but are all working to identify how many more customers need to be compensated. 
ASIC also found that some banks failed to keep complete or accurate records to enable compliance to be analysed. And in some cases, authorised representatives had taken customers’ files with them when they left the firms, making it impossible to check whether or not advice was given.
It appears that every time a question is asked of the big banks, another example of bad behaviour is unearthed.
In the recent questioning of bank CEOs by the House Economics Committee, questions were raised with all CEOs about systemic issues. The answers were generally evasive and short on specifics. 
For example, when talking about a different but related, financial planning scandal, Andrew Thorburn, NAB CEO, said:
“We did a review and we had an independent party come and do that review with us, and we concluded and we stand by that, that it was not a systemic issue.”
What Mr Thorburn and other CEOs neglected to mention was that the banks had, as revealed in ASIC’s report, all already been in the middle of deep discussions about so-called “fee-for-services failures” . The regulator wrote:
Of particular concern is that many of the banking and financial services institutions covered by this review publicly state that their core values include being customer focused, “doing what is right” for customers, and acting with integrity. We encourage the institutions reviewed in this report to consider how their culture may have supported these systemic failures, and why their stated commitment to providing excellent service to customers is not translating into good outcomes for customers in the many instances we identified in this report.
At long last, ASIC has highlighted cultural issues across the industry that the boards and management of the largest banks have long refused to acknowledge. 
The regulator has done its job and found compelling evidence that the culture of the banks is rotten. 
It’s over to the politicians now.
Pat McConnell is honorary fellow, Macquarie University Applied Finance Centre, Macquarie University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/pat-mcconnell-13137" target="_blank">here</a>.
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ASIC report highlights a deep culture problem in Australia’s banks

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Jonathan Chancellor

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