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Oybin, an 1880s Annandale mansion, sold at competitive weekend auction for $3.12 million.
Its sits on Johnston Street's historic Ridge Development, which commands sweeping views of the city and the harbour.
<a href="https://www.realestate.com.au/sold/property-house-nsw-annandale-123643482" target="_blank">Built in the Classical Revival style</a>, the home fell into disrepair but it has been extensively restored over recent decades.
Surrounded by 120-year-old palms, it was listed with $3 million price guidance by the BresicWhitney agent Matthew Carvalho.
There was an opening bid of $2.925 million after a $2.9 million vendor bid began proceedings at the onsite auction beneath planes flying through the cloudy sky.
The enduring existence of Oybin is due entirely to locals who rallied to form the Annandale Association and save local historic homes from 1970s unit developers.
They were just in time as high-rise unit blocks sits on two sides.
It last sold at a suburb price record of $2.1 million in 2007 when the Italianate villa was sold by Dr Dwight Dowda and psychologist Francesco Lo Pizzo.
It had previously traded at $580,000 in 1995 when sold by renovators, Paul and Yvonne Maule. 
Vendor Norma Perry researched the architect C.H.E Blackmann. The mansion was designed by, and built for, Charles Blackmann who quit Australia, so it was researched, with a local barmaid and money embezzled from his partnership with architect John Sulman. 
She published a racy tale of fraud and exile, but records his substantial contribution to architecture in Australia, along with a story of German migration, mining, family life in Victorian times and the consequences of his desertion and flight to California.
This article was first published in the Sunday Telegraph.
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Oybin, the Italianate Annandale villa sold

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Flemington has been recently ranked the Melbourne suburb with the fastest selling houses.
Houses listed by private treaty in Flemington sell in 39 days, according to Investar’s latest market report.
It was followed by Kensington at 40 days and Caulfield South at 42 days.
Houses price growth at Flemington appears to also have some gallop too.
The three bedroom Edwardian home at <a href="https://www.realestate.com.au/sold/property-house-vic-flemington-123684630" target="_blank">17 Sturt Street</a> (above) was offered for weekend auction with initial price guidance between $850,000 to $900,000, which was upped to $860,000 to $940,000 during the marketing campaign.
It fetched $1,237,000 at weekend auction having last sold at $585,000 in 2005.
The Malvern home of the late legendary bookmaker Sid Hill and his widow Marcia sold for $3.15 million on Saturday.
It was declared on the market at $2.95 million as four bidders battled for the home. 
Auction clearances rose to their highest level this year across Australia.
The national average rate clearance hit 80.2 percent, up from 76. 2 percent last week, CoreLogic's preliminary numbers showed.
In Sydney, the success rate rose to 85.6 percent from 81.4 percent last week as the number of spring auctions fell to 866 from 913.
Melbourne clearances increased too from 77.7 percent to 81.8 percent, while its auction numbers rose, to 1378 from 1182 last week given the push forward from the pending spring racing carnival distraction.
While listing numbers typically head higher the deeper into the spring selling season, this year they remain stubbornly weak.
Every capital city except Canberra had less weekend auction stock than a year ago.
Every capital city recorded a preliminary clearance higher than a year ago.
CoreLogic's Kevin Brogan noted the 2641 auctions scheduled for the week to Saturday was 16 percent below the 3143 of the same weekend last October. 
Domain had Reservoir and Richmond, in Melbourne, as the busiest suburbs for auctions across the nation with 21 residential homes set to go under the hammer.
They were followed by St Kilda (20) and Brighton (19) also have a relatively high number of auctions.
In Melbourne, Australia’s largest auction market, 81.8 percent of the 1,229 reported auctions sold this week.
"This is the second time this month the clearance rate for Melbourne has been above 80 per cent," Kevin Brogan said.
The 1,378 auctions held across Melbourne was lower than the 1,690 auctions held one year ago, when there was a notably lower clearance rate of 69.7 percent.
Melbourne's top sale was a Hawthorn house. The double fronted <a href="https://www.realestate.com.au/sold/property-house-vic-hawthorn-123674538" target="_blank">1890s Hawthorn Grove house</a>, (below) Brehon fetched $5.02 million with three bidders. 
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%209.56.04%20AM.png" alt="">
It was listed by Jellis Craig with $4 million plus price guidance, then selling well above the $4.3 million reserve price set for the deceased estate which is one of the last unrenovated properties on the street. 
There was a $5.5 million top bid at Balwyn but it did not sell.
A <a href="https://www.realestate.com.au/property-apartment-vic-west+footscray-123678098" target="_blank">West Footscray apartment</a> (below) scored the nation's cheapest sale when a one bedroom unit sold for $200,000.
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%209.57.06%20AM.png" alt="">
It was just $10,000 higher than its $190,000 sale in 2012. The one bedroom apartment had most recently been a $250 a week rental.
In Sydney, 866 auctions were held this week, down from 913 over the previous week.
"The preliminary clearance rate of 85.6 per cent is the highest recorded for the year to date," Kevin Brogan said.
Since the beginning of spring Sydney’s clearance rate has remained above 78 per cent.
The 85.6 per cent success rate sits significantly higher than this time last year, when a clearance rate of 61.3 per cent was recorded across 1,024 auctions.
The Blacktown region recorded the strongest clearance rate of 93.8 per cent across 22 auctions.
Sydney's top sale was a riverfront mansion which sold for <a href="https://www.realestate.com.au/property/72-champion-rd-tennyson-point-nsw-2111" target="_blank">$8.3 million at Tennyson Point</a> (below) smashing its $7 million reserve.
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%209.58.16%20AM.png" alt="">
The selling agent Matthew Ward said four registered bidders competed to own the home which was built eight years ago.
Brisbane was host to 192 auctions this week and so far 118 results have been reported, with 53.4 per cent of successful sales.
Brisbane's top sale was $2.8 million in East Brisbane when the quintessential Queenslander, <a href="https://www.realestate.com.au/property-house-qld-east+brisbane-123695558" target="_blank">Quambathella</a> (below) was sold through Ray White.
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2010.00.24%20AM.png" alt="">
It was listed by the Brisbane hairdresser, Jon LeCourt who founded the hairdressing chain Jon LeCourt Salons in the early 1970s.
He purchased the home in 1987 for $325,000.
Quambathella, built in the early 1900s by real estate agent George Blocksidge, sits on a prime 3644sq m block.
The cheapest Brisbane district sale was $285,000 at Eagleby. 
<img src="/images/2016/10/24/Screen%20Shot%202016-10-24%20at%2010.01.39%20AM.png" alt="">
The f<a href="https://www.realestate.com.au/property-house-qld-eagleby-123711382" target="_blank">our bedroom late 1970s house</a> (above) had traded last in 1984 at $41,650.
Adelaide saw a preliminary clearance rate of 77.4 percent while Perth’s clearance rate was 46.2 percent across 33 auctions.
Canberra had a total of 64 auctions this week, compared to 72 last week and 58 at the same time last year. 
Canberra’s preliminary clearance rate of 74.4 percent was down on the previous week's 82.8 percent.
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Clearance rate gallops to year high, as auction listings stay stubbornly low

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The Office of State Revenue (NSW) are hosting free information sessions on surcharge purchaser duty and surcharge land tax.
These will focus on surcharge purchaser duty which applies to foreign persons who acquire residential land, and surcharge land tax which applies to foreign persons who acquire or already own residential land.
The definitions of foreign persons and residential land will be explained, as well as exemptions, calculations and more.
Session will be run from various locations around New South Wales;
<ul>
<li>Sydney CBD - 2 November</li>
<li>Bondi Junction - 9 November</li>
<li>North Sydney - 14 November</li>
<li>Wollongong - 15 November</li>
<li>Newcastle - 17 November</li>
<li>Parramatta - 21 November</li>
<li>Queanbeyan - 22 November</li>
<li>Wagga Wagga - 23 November</li>
<li>Dubbo - 29 November</li>
<li>Orange - 30 November</li>
<li>Campbelltown - 1 December</li>
<li> </li>
</ul>
You can register online at:
<a href="https://www.osr.nsw.gov.au/info/seminar/online">www.osr.nsw.gov.au/info/seminar/online</a>
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Property 101: Foreign surcharge information sessions for NSW

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Gina Rinehart's desire to secure Australia's largest landholder, cattle company S.Kidman &amp; Co with a Chinese investor, is being challenged.
The rival bid has been confirmed from wealthiest graziers including BRW Richlisters Tom and Pat Brinkworth and Sterling Buntine.
The Kidman's preferred bid, at $365 million, comes via Australian Outback Beef (AOB), a consortium two thirds controlled by mining magnate Gina Rinehart, and a Chinese business partner, Shanghai CRED.
Their bid does not include Anna Creek, a property in South Australia that raised national security concerns when Chinese interests tried to buy the Kidman properties last year.
BBHO has since emerged, comprising four of the nation's wealthiest outback cattle and transport families offering $385 million, for all the properties including Anna Creek.
The local bid would avoid scrutiny by Australia's Foreign Investment Review Board given BBHO's directors, Viv Oldfield, Tom Brinkworth, Sterling Buntine and Malcolm Harris, represent some of the most prominent names in the outback.
The bid has not yet been received, but once it is, AOB has the right to match the offer.
AOB and Kidman have an agreement that triggers a $3.8 million break fee if either party walks away.
A finalised sale is expected early next year. 
Alice Springs businessman Viv Oldfield is most well known as a race horse trainer.
The 58 year old runs cattle on pastoral land in the Northern Territory and South Australia, and has partnered with a fellow pastoralist to sell cattle to China.
East of Alice Spring, Mr Oldfield runs cattle across the jointly managed properties Andado Station, Horseshoe Bend and New Crown.
He owns an outback transport company, Tanami Transport, of which S Kidman and Co is client.
The South Australian pastoralist Tom Brinkworth owns more than 100 properties spread across more than 400,000 hectares 
Sterling Buntine owns Alroy Downs Station and Dalmore Downs, along with Lissadell, Bedford Downs and Lansdowne stations in the Kimberley in Western Australia.
Malcolm Harris and his family recently gained approval to apply for a freehold lease on WA's Gogo Station at Fitzroy Crossing.
The family owns Benmarra Station in the Northern Territory, and Rockhampton Downs, near Tennant Creek.
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S.Kidman battle between Gina Rinehart and Richlisters

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GUEST OBSERVER
Australia’s immigration system is at risk of losing public confidence, undermining its long running success.
The government needs to make policy changes to put migrant workers and employers back on equal footing.
The successful “Brexit” campaign to leave the European Union illustrates the consequences of failing to properly manage public perception of immigration. Changes to the United Kingdom’s immigration policy were producing economic benefits and helping to plug gaps in the UK labour market. However, opponents successfully blamed the EU’s free movement of labour for increased immigration and various social and economic problems. 
Australia’s situation is different, but there is weak regulation of the employers who hire migrant workers, especially temporary visa holders who are often susceptible to being mistreated. This is serving to marginalise migrants in the labour market and broader society.
Large intakes of economic immigrants have not led to major political upheaval in Australia. Aside from occasional spikes in support for Pauline Hanson’s One Nation, anti-immigration parties have failed to establish ongoing influence. Labor and the Coalition have supported expansive economic immigration policies for much of the post-war era.
The impact of economic immigration on Australia’s population, economy, and labour market is virtually unmatched. Since 1945, immigrants and their immediate descendants have accounted for over half of the nation’s population growth. 
More than one in four workers in Australia were born in another country. The foreign-born population as a share of total population is higher in Australia than in any other OECD country, except for Luxembourg and Switzerland.
Australia’s immigration policies have changed significantly in recent years. They have shifted increasingly towards temporary immigration, focused on skilled, working holiday and international student visas. 
While this marks a departure from Australia’s legacy of encouraging immigrants to settle on a permanent basis, benefits of these changes are evident.
Economic immigrants have offset an ageing population, improved labour productivity, helped businesses to source skills that are difficult to find at short notice and addressed the needs of regional areas and industries. 
Unemployment among skilled immigrants is negligible because they tend to be employed in high-income occupations and contribute more to government revenue through taxation than they take through public services and benefits.
Just as a steady inflow of immigrants has eased Australia’s shift from a manufacturing to a services economy, they will play an important role in helping our businesses to innovate in the face of intensified global competition and technological change.
However reforms are needed to maintain public support for sustained immigration intakes. Most importantly, widespread underpayment and mistreatment of working holidaymakers and international students in the workplace must be addressed urgently. 
Such issues have been exposed internationally. They may negatively impact Australia’s competitive standing in industries such as education and horticulture that rely heavily on temporary migrant workers.
Recent media reports, government inquiries and academic studies show that mistreatment of temporary migrant workers is not limited to 7-Eleven. Policy changes particularly through strong enforcement of regulations are needed to restore level playing fields for business and the workforce.
Some visa arrangements can cause temporary migrant workers to become dependent on their employers. For example, international students are required to work no more than 40 hours per fortnight. 
A small transgression exposes international students to potential visa cancellation and removal. Their resident rights, enrolment in education, and employment are then dependent on employers not sharing any breaches of their visa conditions with the Department of Immigration and Border Protection. Unless these and other arrangements the create dependence on employers are fixed, temporary migrants will remain fearful of seeking redress. 
Weak enforcement of employment laws fails to deter unscrupulous employers from underpaying and mistreating temporary migrants and puts honest employers at a competitive disadvantage. 
The Fair Work Ombudsman has only 250 inspectors for 2.1 million workplaces and 11.6 million workers. It needs more resources to ensure that our employment laws are enforced in industries with large numbers of temporary migrant workers such as food services, hospitality, retail, and horticulture.
Allocation of temporary skilled 457 visas must reflect genuine skills shortages rather than recruitment problems some employers experience, which are often the result of the low wages and poor conditions they offer to prospective employees. 
The policies governing 457 visas must take greater account of objective longer-term labour market needs. This includes providing opportunities for decent employment and attractive career paths for workers, rather than serving subjective short-term employer interests.
Economic immigration in Australia has been managed remarkably successfully. But for the good of the country we must address current challenges that have the potential to undermine public confidence in existing immigration policies.
Chris F. Wright is postdoctoral Research Fellow, University of Sydney and can be contacted <a href="https://theconversation.com/profiles/chris-f-wright-9738" target="_blank">here</a>.
Stephen Clibborn is associate lecturer, The University of Sydney Business School, University of Sydney and can be contacted <a href="https://theconversation.com/profiles/stephen-clibborn-111815" target="_blank">here</a>.
Both are authors for The Conversation.
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Australia is at risk of losing migrants who are vital to the health of our economy

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GUEST OBSERVER
Why is it that despite how much and how often we use toponyms (place names) linguists, geographers, cartographers, and historians know so little about how they actually work? 
Why is it that place names are less prone to change than other aspects of language like accents and pronunciations? And how is it that regardless of how well furnished a map or smartphone may be with place names and directions, we still bloody well get lost? And why are so many Australian places named after knobs?
Eamon Evans’s 280-page Mount Buggery to Nowhere Else: the stories behind Australia’s weird and wonderful place names lists hundreds of place names — colonial, Aboriginal, German, and other — that adorn our country. It is an entertaining, non-academic read with a playful manner, which charts place names from the serious – the many names for Australia, for example – to the jocular, like Australia’s many rude and dirty topographic monikers.
Many of Evans’s humorous stories go a way to responding to some of the scientific inadequacies and toponymic foibles so common in place naming studies. And after I’ve spent almost a decade inundated with often sterile and uninspirational place name theory and how it may fit within more general research in onomastics, the study of proper names, Evans’s tongue-in-cheek take is more than welcome.
The book begins with a reasonable and justified dis of Lucky Starr and his 1962 claim “I’ve been everywhere.” Evans doubts this claim—fair enough, Lucky lists at least 94 places – and estimates this large country of ours has around four million place names. Visiting all of these sites would take yonks, around half a lifetime tells Evans, and would involve using lots of petrol, shoes, and time travelling beyond the Black Stump and back o’ Bourke. He claims the observations and offbeat remarks in this companion save us from doing all this legwork and allows us to sit back and enjoy the often-bumpy yet comical toponymic ride.
I grew up in Adelaide, surrounded by road and place names honouring rich and powerful, dead white men (plus a minuscule number of women). I mean, how many William Streets, Edward Streets, Victoria Everythings, and Queen Elizabeth Otherthings does Australia need? 
Naming is power, which Evans obviously understands. Furthermore, he takes the piss. And he bloody well should. Our eponymous (of a person) place name landscape is largely boring as bat turd and as stodgy and starchy as badly cooked porridge.
In telling us about the histories and etymologies (origins) of places, the colonial makeup of our pre-European toponymically terra-annuled joint is made real. Take Lake Alexandrina in South Australia:
"named after Her Royal Highness Princess Alexandrina of Kent, the then heir to the British throne. A nice gesture, but perhaps a wasted one, as the princess much preferred her middle name. We now call her Queen Victoria."
We get quirky introductions to each of the nine chapters – one for Australia and one each for every state and territory – plus more toponymic toilet humour than one could poke a dirty toilet brush at in an outback dunny. The knob gets quite a mention, which we are told is a prominent rounded hill, mountain, or elevation on a ridge, with Chinamans Knob, Governors Knob, Iron Knob, Nimbin’s Blue Knob, Spanker Knob, and Yorkeys Knob. I think you get the picture. 
We’re told about Mount Little Dick in Victoria, which Evans hopes is named after a small man named Richard who used to live there and nothing else, Lake Fanny near Mossy Nipple Bend in Tasmania, and a few perky hills also in Tasmania called The Nipples.
This feminal place name reminds me of a topographical name on Kangaroo Island I documented back in 2009. The Tits is a place with undulating landscape similar to a woman’s corporeal scenery on the left side of Hog Bay Road near Pelican Lagoon. Between the Tits is a fishing ground off Kangaroo Head, which uses the space between The Tits in lining up the ground. 
Apart from the colonial propensity for double entendres, some of these places are simply the victim of time: Cockburn (pronounced “ko-burn”) was named after the prominent sailor Sir George Cockburn. Intercourse Island, 1,500 kilometres north of Perth, was the site of a productive conversation between Captain Philip Parker King and some local Indigenous people. 
The listing of the town Verdun in South Australia gives excellent information about the cleansing-cum-sanitisation of German place names in South Australia during the Great War. Friedrichstadt became Tangari, Neudorf became Mamburdi, and Hahndorf became Ambleside to become Hahndorf again in 1935. “About the only German place name that wasn’t changed,” Evans tells us, “was Adelaide – a city named after a German princess”.
Let’s not forget those place names which are mistakes. For example, Bundle Bundle was bungled to become Bungle Bungle; Mount Kokeby, named after Baron Rokeby, was misspelled as “Kokeby” after a spelling error in one of the town’s first train timetables. Place names are filled with specimens of our laziness and folly.
One can always quibble about what was not given. Regarding the contemporary issue of dual naming, something which could be taken from both a humorous and serious perspective, it was a shame not to have seen a little more beyond the Uluru-Ayers Rock example. For example, Nobbys Head in Newcastle is officially known as Whibayganba. What was formerly known as Grampians National Park in Victoria is now officially called Grampians / Gariwerd. The area contains the dual name Halls Gap / Budja Budja.
Dual place naming is a weighty and contentious affair in modern Australian politics and the social cartography of this once unnamed land is dependent on best representing all levels of place naming: Indigenous, British, German, and others. Perhaps this is something for the second edition of Evans’s book, if he’s not too buggered.
The story of Adaminaby, a mining town in New South Wales Evans says was supposedly named in honour of the line, “Ada’s mine it be,” makes one wonder about the credibility of some bush toponymic lore. But Evans happily acknowledges the hazier areas of his research, and ultimately, who cares?
Place names are fun and their study should be the same. What Evans offers is an amusing take on a potentially very dry topic. It’s not a weighty book and is minus a conclusion to pull it all together, but it would make a grouse Chrissie present. 
If wit and quips can be used to good effect to get people thinking about important matters like place naming from a humorous and lively perspective, then Evans’s account is a noble achievement.
Joshua Nash is postdoctoral research fellow, School of Behavioural, Cognitive and Social Sciences, University of New England and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/joshua-nash-307771" target="_blank">here</a>.
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Buggered if I know where I am: the stories behind Australia’s weird and wonderful place names

Housing finance above decade averages in six states and territories: CommSec's Craig James

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GUEST OBSERVER
The Financial Stability Review usually is a straight-forward document with few controversial issues raised.
But in the latest report the Reserve Bank has been uncharacteristically forthright, warning banks for the need to be vigilant and continue to maintain tighter lending standards.
The RBA notes that the “risks to the banking system have somewhat increased over the past six months” but “tighter lending practices will, over time, leave the industry better placed to cope with any future deterioration in the housing market and the broader economy”.
In effect this time round the Financial Stability Review reads a bit like a report card on the banking sector and in that context Aussie banks have been given a pat on the back for the efforts to ensure higher quality loan books. However there is no doubt there is a much more concerned tone from policymakers about the outlook. In effect the report highlighted potential future concerns and stressed that the right measures are put in play now to avoid instability. The key is to ensure that lending standards are not being compromised.
The RBA did provide a further warning to banks on the commercial property sector and even more so on international exposure – “especially housing and agricultural lending in New Zealand where the risks have continued to grow”. 
Interestingly the last time policymakers provided a warning of this sort was on the Aussie dollar and the likelihood that it was overvalued and would fall at some point in the future – a result that has played out over the past year.
Encouragingly the Financial Stability Review highlighted the low levels of financial stress being faced by household. Confirming that “labour market conditions, which strongly influence the extent of household financial stress, have improved so far this year”. And importantly there is more comfort within the report with the RBA noting that 16 percent of borrowers are ahead in repayments by two years or more.  
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According to the latest housing occupancy data, 61 percent of households have at least one spare bedroom. The data confirms recent trends showing that there is plenty of spare capacity in our existing homes, even though we have been utilising some of this extra capacity in the past five years. The latest figures have clear implications for the housing industry. If Australians are keen to utilise their homes more efficiently then construction will be more constrained in coming years. 
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What does the report say?
On Australian Banks, the RBA noted: “As noted, most banks have now strengthened the serviceability metrics used in their mortgage lending and taken steps to slow the pace of growth in investor lending towards APRA’s expectations. Banks also report that they are becoming increasingly wary of lending to property developers in markets that look oversupplied. The large banks have enhanced their resilience recently by raising substantial amounts of fresh capital in advance of new prudential requirements.”
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  On Australian businesses the RBA noted “Outside the property sector, risks to the financial system from non- financial businesses remain low and the sector’s finances are generally in good shape. Business failure rates have fallen significantly across most industries and states over recent years and, in aggregate, are close to decade lows, although business failures have picked up a little in recent month”.
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 On Australian households the RBA noted “Many households have likewise been bolstering their resilience in a number of ways, including paying down their debt faster than contractually required and increasing their offset account balances.” .. “Aggregate mortgage buffers – as measured by balances in offset and redraw facilities – remain around 16 per cent of outstanding loan balances, equivalent to more than two years of scheduled”.
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 Further, the RBA noted “Moreover, price competition for new and lower-risk owner-occupier borrowers remains strong, despite the forthcoming increase in the indicator rate announced by Westpac”.
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 On housing, the RBA said “Large data resubmissions by several banks also indicate that the level of investor lending over recent years has been higher than had initially been reported. Over recent months, lenders have announced changes to a range of price and non-price lending terms and conditions to strengthen lending practices and respond to supervisory expectations (for details, see ‘The Australian Financial System’ chapter). Since then, there have been tentative signs that investor demand has started to cool..”
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 On commercial property the RBA noted “So far, the near-term risks to the domestic financial system from the commercial property sector appear modest, but they are rising. Although banks’ commercial property exposures declined as a share of their total assets after the financial crisis, growth in this type of lending has picked up in recent years, driven by the major Australian banks and by Asian-owned banks.”
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 The RBA has provided special sections in the report dealing with Australia’s shadow banking system. At present “The shadow banking sector represents only around 5 percent of financial system assets in Australia. This share is down from over 10 percent in 2007 and well below that for a number of large economies”. “Because of its small size and minimal credit and funding links to the regulated banking system, the shadow banking sector in Australia is judged to pose limited systemic risk. Nonetheless, the Reserve Bank and other Australian financial regulators continue to monitor shadow banking activity for signs of risk”.
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Housing Occupancy &amp; costs 
In 2007/08, the number of people, on average, in Australian homes lifted for the first time since records were first maintained in 1910. The number of people per home rose from 2.51 to 2.56; lifted further to 2.57 in 2009/10 and has lifted further to 2.59 in 2013/14. The number of people per home lifted to the highest levels in 14 years.
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 The number of bedrooms per home hit a record high of 3.14 in 2013/14, up from 3.11 bedrooms in 2011/12. Almost 61 percent of households indicated that they had one or more spare bedrooms in the 2013/14 survey, down from 61.7 percent in the 2011/12 survey.
The proportion of households that owned their homes outright rose from 30.9 percent to 31.4 percent in 2013/14. Owners with a mortgage fell from 36.6 percent while renters lifted from 30.3 percent to a record high of 31.0 percent.
What is the importance of the economic data?
The Financial Stability Review is published by the Reserve Bank every six months. The report is basically a health check on the financial sector but it also assesses the state of household and business balance sheets.
The Bureau of Statistics releases estimates of Housing Occupancy &amp; Costs every two years. The data shows whether people are buying or renting and how efficiently people are utilising their homes.
What are the implications for interest rates and investors?
The Reserve Bank has highlighted an array of potential risks for the financial system and in essence given further credence of the need to maintain tighter bank lending standards. Overall the report suggests a slightly dovish tone to the broader economic landscape.
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<div class="column">There is significant spare capacity in Aussie homes and there has been a greater willingness in recent years for younger people to share accommodation with others or stay longer in the family home. The trends in housing occupancy have clear implications for builders, developers and building material companies. If the trend to greater utilisation of homes continues then there will be less need to build more homes.</div>
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 CommSec expects interest rates to stay on hold over the next few months although the risks lie with another rate cut. 
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<div class="column">Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a></div>
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RBA warning to banking sector: CommSec's Savanth Sebastian

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GUEST OBSERVER
Westpac’s forecast for the headline CPI is 0.9 percent qtr which lifts the annual pace to 1.5 percent/yr from 1.0 percent/yr. 
September is traditionally a stronger quarter (mostly due to the annual price resetting for administrated prices) with the ABS seasonal factor worth 0.3ppts. This results in the seasonally adjusted CPI rising a smaller 0.6 percent/qtr.
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Key to the solid rise is the strong price gains for food, housing (mostly via utilities) and recreation. Helping to hold the gains down in the quarter were falling prices for auto fuel, communication and clothing &amp; footwear. 
Overall, traded prices are forecast to rise 0.9 percent, despite the 3.4 percent fall in auto fuel prices, which boosts the annual pace from 0.0 percent/yr to 0.6 percent/yr. Excluding fruit, vegetables, fuel and tobacco, traded goods prices are forecast to rise 0.3 percent/0.6 percent/yr in Q3 highlighting just how modest imported inflationary pressures are.
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Housing costs remain key to core and non-traded inflation. September quarter saw a significant jump in electricity bills lifting utility costs 5.7 percent/qtr. In 2015Q3 utility prices fell 0.5 percent. Other housing costs remain benign with rents falling in Perth, Darwin and Canberra while dwelling purchase prices have moderated in Sydney, Melbourne &amp; Brisbane while the declines are gathering pace in Perth.
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Core inflation (average) is forecast to print 0.4 percent/qtr (0.39 percent at two decimal places) which will see annual core inflation lift to 1.6 percent/yr from 1.5 percent/yr. The trimmed mean is forecast to rise 0.38 percent while the weighted median forecast is 0.40 percent. The six month annualised pace of the average of the core measures is forecast to lift to 1.7 percent/yr from 1.3 percent/yr in Q2 which remains a modest inflationary pulse.
 
The pass through from the early weakness in the AUD did not provide the normal boost you would expect and so we doubt the recent appreciation of the currency will act as a further brake on prices. Outside of housing, where we are forecasting a modest gain following a statistical bounce in Q2, the risks to our forecast are balanced. 
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A quick recap on the June quarter CPI 
The headline CPI came in as expected rising 0.4 percent in Q2. The annual rate is now just 1.0 percent/yr compared to 1.3 percent/yr in Q1, which is the lowest rate of annual inflation since June 1999. 
The core measures, which are seasonally adjusted and exclude extreme moves, rose 0.48 percent compared to the market’s expectation of 0.4 percent rise; Westpac was slightly lower at 0.35 percent. The annual pace of the average of the core inflation measures is now 1.5 percent, the lowest print we have yet seen for this measure. 
The key observations from the June quarter CPI was some recovery in housing costs, a lift in health costs and some sign of AUD pass-through with a 2.0 percent lift in clothing &amp; footwear prices. Given the core print in Q2, and our expectations for Q3, we do think we have seen the low in the annual pace of core inflation. 
Some solid ‘knowns’ but, as always, many ‘unknowns’!
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In the June quarter, while there was still no broad based acceleration in prices, there were some promising signs that we may have found a base in the disinflationary cycle. For the September quarter, we expect a number of one off positive factors will boost the headline measure well above the underlying momentum of core inflation.
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There is a known boost (partly seasonally) from fresh fruit &amp; vegetables plus the usual seasonal rise in utilities and domestic holiday travel. Partially offsetting these gains is a fall in automotive fuels, the seasonal fall in pharmaceuticals, domestic holidays and further declines in communication prices. 
However, as always, a large number of unknowns remain. In particular, while we expect house purchase prices will return to a more modest pace than we saw through 2015Q4 and 2016Q1 we wonder if the 0.9 percent/qtr bump in Q2 the start of a new stronger trend. 
We also don’t have access to a lot of the data the ABS uses and, in many cases, it is not possible to replicate the survey process the ABS uses causing many small errors along the way. We use many alternative sources and surveys as a guide but our forecasts are, in the end, subject to a significant amount of personal judgement. 
Automotive fuels are a meaningful drag this quarter. 
One of the most obvious events in the last few quarters has been the extreme volatility in the pump price of automotive fuels. Starting the quarter at $1.22/l the pump price then fell to a low of $1.10/l around mid-August before rallying to a high of $1.18/l at the end of the quarter. In terms of the quarterly averages, we forecast that the price of automotive fuels will fall around 3.4 percent contributing –0.12ppts to the CPI. Fuel is the most significant negative we have identified for the September quarter CPI. 
Fruit &amp; vegetables set for strong bounce. 
For the September quarter we forecast an 8 percent rise in vegetable prices plus a very robust 14 percent rise in fruit prices. All up, the 11.3 percent rise in fruit &amp; vegetable prices will add 0.33ppt to the CPI. 
Running into the spring flush we are looking for softer meat &amp; seafood prices (–0.4 percent) but rising wholesale price late in the quarter means the decline is less than you would usually expect. We are also very aware of the ongoing price discounting in the very competitive groceries space and what appears to be a lack of pass through from the weaker AUD to imported foodstuffs. Our forecasts see food &amp; non-alcoholic beverages contribute 0.35ppt to the CPI. 
Partial re-index of the tobacco excise. 
Tobacco excise is re-indexed to the CPI in the month of September so we incorporate 1/3 of this increase in the September quarter average and the other 2/3 will appear the in December quarter. We are looking for the usual modest gains in alcoholic beverages but note we should be past the greatest pressure from the weaker AUD for imported beverages. 
Seasonal rise for domestic holiday travel costs. 
The BITRE (Bureau of Infrastructure, Transport &amp; Regional Economics) data on best price economy airfares is pointing to the usual seasonal bump for domestic airfares in Q3. So for the September quarter we are forecasting a 1% rise in domestic holiday costs, while the previous weaker AUD will help boost international holiday travel, at the margin (remembering that prices are applied to when the travel is taken not when it was booked). As such we are looking for a 2.6%qtr rise in holiday travel &amp; accommodation. 
Dwelling prices to moderate from Q2 bump. 
The June quarter saw a bump up in dwelling costs (0.9 percent/qtr on average, prices lifting by this much in Melbourne and Brisbane thus supporting the 1.5 percent bounce in Sydney). We are looking for the gains to fall back to around their three quarter average for the cities (0.6 percent/qtr of Sydney and Melbourne, 0.4 percent in Brisbane, 0.3 percent in Adelaide while prices continue to fall in Perth) resulting in a modest 0.4%qtr the price of dwellings purchased.
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Housing overall makes a solid contribution of 0.31ppts. 
Rents are expected to remain on a very benign path with a gain of just 0.2 percent. This follows a 0.2 percent in Q2, 0.1 percent in Q1 and a 0.2 percent in Q4. While rents are clearly under pressure in WA and easing in other capital cities, in aggregate they tend to be relatively sticky given the way they are measured in the CPI and so we would expect any downside risk to this forecast to be very modest.
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However, electricity prices surged in the September quarter and power companies adjusted prices in the face of rising wholesale prices. All up, electricity prices are expected to rise 8.4 percent. In total utilities are forecast to rise 5.7 percent as the usual Q3 price rising in other utilities is somewhat less than that for electricity. 
Ex-housing, the CPI is forecast to rise 0.6 percent. 
The impact of the AUD is shifting to appreciation without the earlier depreciation having any meaningful impact. 
We also expect that we are nearing the end of the inflationary impact, if there has been much impact, of the earlier AUD depreciation. In Q2 and again in Q3 the AUD has strengthened a little. As such, we are making a very small allowance for a bit more pass-through in clothing &amp; footwear and household contents &amp; services. The September quarter normally experiences post-June sales discounting for clothing &amp; footwear and this year we expect the discounting to be a bit less usual. Westpac is forecasting a 0.1 percent fall in clothing and footwear and a 0.8 percent rise (0.07ppt) in household contents &amp; services. 
The one area we do expect to see some pass-through from the weaker AUD is in car prices as the fall in the AUD against the Japanese Yen has been much greater than other currencies given the significant appreciation in the Yen to the US dollar. We are forecasting a 0.2% rise in car prices contributing 0.01ppt to the CPI. Car prices fell 1.4 percent in Q2 and our Q3 forecast is very modest compared to the 1.1 percent gain in 2015Q3. 
Overall seasonality tends to be significant positive in Q3. 
With seasonal re-pricing for administrated goods (ie. rates, utilities, public transport etc), the ABS reports Q3 with a seasonal positive. That is, our seasonally adjusted estimate is 0.3ppt weaker at 0.6% than our headline CPI forecast. There is a caveat however: the ABS conducts concurrent seasonal re-analysis and the revisions to the seasonal factors can be quite significant. 
Core inflation to remain well below the bottom of the band. 
Westpac is forecasting the average of the core measures to rise by 0.39 percent in Q3 with the annual pace lifting to 1.6 percent/yr from 1.5 percent/yr. Traded goods &amp; services are forecast to rise 0.9 percent/qtr with the annual pace accelerating to 0.6 percent/yr from 0.0 percent/yr; non-traded prices are also forecast to rise 0.9%qtr for an annual pace of 2.1 percent/yr from 1.6 percent/yr. The six month annualised pace of the average of the core measures is forecast to lift to 1.7 percent/yr from 1.3 percent/yr in Q2. 
Risks balanced for headline. 
We expect that the pass through from the earlier AUD weakness has all but passed and the fall in petrol prices more than offset by rising housing costs. But core inflation remains well contained. There may be some upside risk for housing, particularly if Sydney is on a new stronger trend, but we are cautious that traded goods in particular may be softer than what we are expecting. 
Justin Smirk is ‎senior economist, Westpac Group and can be contacted <a href="https://www.westpac.com.au/about-westpac/westpac-group/" target="_blank">here</a>.
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June quarter saw a bump up in dwelling costs: Westpac's Justin Smirk

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GUEST OBSERVER
The Property Council of Australia has welcomed the release of the government’s draft revision of the South East Queensland Regional Plan. 
The refresh of the State Government’s seven year old regional land-use plan is an important moment for industry, councils and the broader community alike. 
The goal of the regional plan is to outline how future growth can be accommodated in a manner which maintains the enviable way of life for South East Queenslanders.
While it’s certainly not everything the property industry feels is required, it does appear the State has taken onboard a number of the recommendations we have made during the consultation process. 
These included a commitment to greater monitoring and reporting against the plan, a strategic assessment of environmental values and focus on delivering employment as well as housing across the region. 
The property industry will now be sifting through the detail of the draft to test the underlying assumptions and determine if the Government’s approach is realistic.
The Government has proposed a shift towards more infill development to meet future housing demand, with a new target of 60 percent infill and 40 percent greenfield over the next 25 years. 
What the industry wants to deliver is a wide range of housing choice for South East Queenslanders.
South East Queensland will need considerably more of every type of housing over the next 25 years, whether it is apartments, new homes, retirement villages or student accommodation. 
We will be analysing this nominal infill target to ensure that it doesn’t create any artificial constraint on the delivery of new houses, and have a corresponding impact on affordability. 
The proposed modest expansion of the urban footprint isn’t anything revolutionary, but it acknowledges that growth is inevitable and Government’s role is to appropriately cater for it in a sustainable manner. 
As industry pours over the detail, we will be looking to ensure that each community in SEQ has its own adequate supply of future housing and employment lands.
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A strategic region-wide assessment of environmental considerations has been flagged by the Government in the plan as the way forward to achieve an evidence-based approach to ecological protection. 
Industry strongly supports the push to identify with certainty those areas that should be protected from urban uses, and those areas where urban uses are agreed to be the highest and best use of the land.
This will not only reduce red tape, but also achieve far better environmental outcomes.
Public consultation on the draft plan will run until 3 March 2017. It is expected that the final plan will come into effect in mid-2017. 
Once the document is finalised, the Government must take the leadership role in ensuring that their plan doesn’t gather dust, but is implemented on the ground.
This will mean sitting down with local governments to understand what impediments exist to ensuring this land is delivered to market as quickly as possible. 
Given the plan’s emphasis on infill development, this leadership role will also mean offering greater support to local governments over contentious infill projects.” 
The Property Council has called on the Queensland Government to establish a $200 million Regional Project Fund to assist local governments in financing key infrastructure that will enable them to translate the new South East Queensland Regional Plan (SEQRP) into their local planning schemes. 
As our population grows, so too will the demand for housing. If we want to ensure South East Queensland is an affordable place to live into the future, we need to unlock new housing supply to match this demand.
Chris Mountford is Queensland executive director of the Property Council and can be contacted <a href="https://www.propertycouncil.com.au" target="_blank">here</a>.
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South East Queensland Regional Plan refresh moves towards infill housing development

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.

&nbsp;

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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