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GUEST OBSERVER
With the widespread adoption of in-house apps, instant messaging and even robots, hotels are on the cusp of a chatbot revolution.
Chatbots are already working hard in the hospitality industry, from taking fast food orders to helping travellers plan their trips. While conversational AI is very much in its infancy in the hotel sector, it certainly has plenty of potential, says Nigel Symonds, hospitality consultant at Avenue9. So how could chatbots change the hotel industry?
1. A new reservation channel
Earlier in August, Icelandair launched a booking bot, leveraging Facebook’s new chatbot development toolkit. Modelled on a text conversation with a real travel agent, the bot not only offers and takes reservations for flights, it also suggests a layover in Reykjavik.
Elsewhere in the travel industry, Expedia, again taking advantage of Facebook’s technology, launched a basic bot to help travellers book hotels. According to Symonds, in order to stave off fierce competition from online travel agencies (OTAs) and encourage direct booking, hotels should be looking to follow suit. “From our perspective, hotels definitely want to start integrating this technology,” he says. Indeed, Hyatt Hotels, which began using Facebook Messenger in late 2015, told Skift that “creating and deploying a Facebook Messenger bot is something that we will explore in the future.”
2. Enriching the pre-arrival experience
“Booking additional services is where the power is,” says Symonds. At the moment, hotels usually send out an automated email several days in advance of a guest’s arrival, suggesting amenities like spa treatments, airport transfers, and dinner reservations. “It would be great to have chatbots doing this,” he adds. “The benefit of a bot is that it can interact with the guest, asking questions such as whether it’s a special occasion, for instance, and responding with relevant offerings.”
3. On-resort interaction
London’s Edwardian Hotels were among the first to launch what they call a virtual assistant. Designed for those who prefer to engage with the brand digitally, the interface allows guests to order room service or get local recommendations from Edward the bot.
“It’s all about enhancing the guest experience,” says Symonds. “When integrated into the property management system (PMS), chatbots could be used to alert guests of real-time spa and restaurant availability, and offer last-minute rates.” Challenges include ensuring the offers are relevant to the recipient— including that your guest wants to get involved with the technology in the first place. “Certain generations will feel excluded if hotels abandon the more traditional routes of engagement,” Symonds adds.
4. Supplementing and supporting staff
With conversational AI able to answer straightforward questions, front-of-house staff are freed up to provide the kind of service only humans can. At the same time, “we’re seeing a shift in the desired skill set of hotel marketing and customer service personnel towards digital specialization” says Symonds. Chatbots aid guest interaction, but when a human needs to step in, that person needs to be both tech-savvy and able to embody the voice of the brand in a spontaneous and textually interactive way.
5. Leveraging data
A PMS-integrated bot that interacts with guests at all stages of the customer journey can gather valuable data, which can then be used by algorithms and hotel staff alike to provide personalized services. Unlike localized human interactions, entire chatbot conversations and outcomes can be stored and recalled for relevant future exchanges.
However, there’s a fine line between the impressive and the downright creepy. “If suggestions are too intuitive, you can risk alienating your guest,” says Symonds. As public perceptions catch up to the capabilities of technology, the solution, concludes Symonds, is a thorough and transparent permissions process.
This article by Natalie Holmes appeared in jllrealviews.com.
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jchancellor-FAypfDUnLy

Five ways chatbots could change the hotel industry

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The celebrity businessman and host of Channel 9's The Celebrity Apprentice, Mark Bouris, says he will fire himself if his business, Yellow Brick Road does not make a profit this financial year.
Bouris made the bold declaration to the Australian Financial Review's Chanticleer columnist Tony Boyd in today's paper.
It comes at a time when the share price bounces around at 15 cents, near its record low of 13.5c. 
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The fall in the stock over the past two years has left the group with a market cap of just over $40 million, down from about $200 million at its peak.
The mortgage lender and wealth manager made its stockmarket debut in 2011 with the kid from Punchbowl, in Sydney’s south-west, having the aim of taking on the banks, but YBR shares have crashed more than 75 per cent during the past two years. 
YBR’s recent $9.5 million ­annual loss came despite increasing its revenue 31 per cent to $218 million. 
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In early 2014 Bouris said YBR was “on track” to deliver its maiden profit during that ­financial year.
The recent $9.5 million loss was nearly tripling the previous year’s loss of $2.6 million.
The company has lost a cumulative $36.9m over the six years since its listing which saw Bouris joined on the register by Mineral Resources founder Chris Ellison and chief executive Peter Wade, pastoralist John Kahlbetzer and Navitas boss Rod Jones.
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Bouris plans to open 40 new branches in the next year.
It has $700 million funds under management.
"Our foot was on the pedal, metaphorically speaking, right as the market cooled this year,” Mr Bouris said, explaining the result.
Along with recent acquisitions, YBR has spent millions on advertising during the housing boom to grab a bigger slice of the market.
YBR acquired the non-bank lender Resi Mortgage in 2014 for $36 million and then took over mortgage aggregator Vow Financial for $17.6 million.
Over the past 12 months, it has spent $5.3 million on advertising and marketing with The Celebrity Apprentice largely functioning as a lengthy ad. 
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Last week the accounting entrepreneur, Brett Kelly made an off play for the company, while saying the YBR wealth management strategy will never work.
Kelly, who owns the country's fastest-growing network of accounting firms, says people buying low value mortgages from YBR's network of 40 branches do not have enough money to make the YBR wealth management strategy profitable.
An investor update issued last week by YBR suggested its competitive advantage as scaling lending, with $38 billion in mortgages under management, distribution scale with 1500 credit representatives and brand equity, which it credited as much stronger than it competitors.
While Kelly believes that Bouris has done well to build a strong finance business, he maintains that Australians with money for wealth management do not go to mortgage brokers or any of the big four banks.
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Last week Kelly tried to grab a stake in YBR whose two biggest shareholders are Macquarie Group and Nine Entertainment Co.
Macquarie and Nine each owns a 20 per cent stake in YBR and both are strategic partners of YBR.
Macquarie supplies YBR with mortgage loans while Nine has been supplying a certain amount of free advertising as part of a contra deal from 2012 worth $6.5 million.  
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Bouris admitted to Chanticleer that his reputation is at stake in the quest to build YBR into one of the country's largest independent financial firms. 
The Australian newspaper reported last month that investors had lost patience in Yellow Brick Road, the listed ­financial services firm he founded in 2007 after Bouris had overhauled YBR’s structure twice this year.
Bouris, who owns more than 51 million shares, took home $1.6 million in remuneration from YBR last year, a substantial cut from the previous year’s $5.6 million.
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The reduction in pay also came with more responsibility as the latest restructure cut five senior positions.
The Australian noted YBR has paid millions in advisory fees to BBB Capital and Golden Wealth Holdings.
BBB Capital is an investment advisory group founded by Mark Bouris and his brother Adrian, both of whom sit on the YBR board.
BBB Capital has collected $2.2 million in fees from YBR over the past six years, while Golden Wealth, an entity controlled by Mark Bouris, has been paid $3.9 million in consultancy fees from YBR over the same period.
Last month YBR ­announced the sale of the wealth division’s accounting business and legal practice to the former owner David Carr for nearly $2 million, with a consideration of an extra $2.8m over the next five years.
“I’m going to spend the next two to three years driving into hitting our capacity,” Mr Bouris recently told The Weekend Australian.
“I’m gonna be working a lot harder than I’ve ever worked,” he said.
“Not everyone necessarily wants to do that but that’s the way I run things. And if they don’t want to do it they can leave …
“I’m interested in people who will roll their sleeves up and get things done and actually go to the branches and see the customers. I don’t care if it’s me or the CEO — they’ve got to go and do it.”
Mr Bouris put down the collapse in the YBR stock price to the state of the market clinging to yield stocks, or companies that pay out generous dividends, and said investors weren’t rewarding ambition.
“The market is looking for yield. We’re a growth stock. Our aim is to take market share from our competitors. And I don’t make any apologies for that.”
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Mark Bouris says he will fire himself if YBR doesn't make a profit

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GUET OBSERVER
The Westpac Melbourne Institute Index of Consumer Sentiment rose by 1.1 percent in October from 101.4 in September to 102.4 in October. 
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This result extends a remarkable run of stability in the Index. Over the last six months the Index has held within a relatively tight 4 percent range with five of the six readings hovering just above 100 indicating that optimists have remained slightly in the ascendancy. 
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This has been despite some significant local events including two rate cuts from the Reserve Bank; a very close election result and the aftermath of the May Budget. 
International events have hardly been without highlights including the vote by the British people to leave the European Union (‘Brexit’) and a particularly volatile US presidential election. On the other hand anxieties around China have definitely settled down and the prices of Australia’s major commodity exports have been particularly buoyant. 
This stability is signalling a sustained lift in Consumer Sentiment over the last year. The average level of the Index over this last stable six months is now 4.9 percent higher than the average of the same six months a year ago. However that boost is all in expectations. 
The “Current Conditions components of the Index have been steady while the Expectations components of the Index are up 8.1 percent on the previous year. This boost to expectations has been sustained. Certainly there was a 4.4 percent lift following the change of Prime Minister a year ago but the Expectations Index has lifted a further 5.2 percent since last October.
The only disappointing aspect of this story is that the component of the Index which measures how respondents feel about their own finances relative to a year ago has fallen by 2.9 percent (on a six month average basis) whereas the component that tracks their outlook for finances over the next 12 months has lifted by 2.2 percent. 
The largest average boost of the components has been the outlook for the economy over the next 12 months which has lifted by 13.1 percent on a year ago (on a six month average basis). 
Ongoing stability in the labour market has been one likely explanation for the overall boost to confidence. The Westpac Melbourne Institute Index of Unemployment Expectations dipped from 138.4 to 138.2. The average print for the Index over the last six months is 138.2 – emphasising the stability of the current assessment of the labour market. This average read is 8.0 percent below the average of the same six months a year ago indicating a definite improvement in respondents’ assessments of the conditions in the labour market.
There were generally minimal movements in the components of the Index over the month. The ‘family finances compared to a year ago’ sub-index fell by 0.4% while the ‘family finances over the next 12 months’ sub-index lifted by 0.9 percent. 
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The ‘economic conditions over the next 12 months’ sub-index lifted by 5.8% while the ‘five year’ outlook was unchanged. 
The ‘time to buy a major household item’ sub-index fell by 0.4 percent but is still up by 9.2 percent over the year. The average reading for this component over the last six months is up 3.3 percent on the average six months reading a year ago. 
Confidence in housing faded in October. The ‘time to buy a dwelling’ Index fell by 3.3 percent in October from 105.7 to 109.3. There was a particularly sharp fall in the NSW Index – down by 10.5 percent with the Sydney Index down from 101 to 82.2 (–18.6 percent). However if we consider the average of the ‘time to buy’ index over the last six months relative to the same period a year ago the Index is around 2 percent higher. In the case of the volatile Index in NSW we can see a 14.7 percent improvement while the Sydney index has improved over that period by 34 percent. 
Confidence in house prices continued to improve. The Westpac Melbourne Institute Index of House Price Expectations increased by 1.6 percent in October to be 12.1% above its level in October last year. House price expectations in NSW lifted by 2.6 percent in the month to be 20 percent above the level a year ago. 
There have been solid improvements in expectations across the major states over the year with Victoria up by 6 percent; Queensland by 9 percent and Western Australia by 15 percent. With vacancy rates rising and prices falling in Perth we had been surprised by the resilience in respondents’ expectations for prices in WA although this month we have seen a disturbing 16 percent fall in expectations in one month. 
The Reserve Bank Board next meets on November 1. 
A significant number of commentators have been predicting a rate cut in November and a few weeks ago markets had been giving around a 50 percent probability to a move. We were never convinced that the inflation report which is due to be released on October 26 would provide the case for a cut. In fact, with a 0.3 percent reading for the underlying inflation dropping out, it seems likely that the September quarter report will actually show that annual underlying inflation has lifted. 
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It has also become clear that the new Governor will give considerable weighting to ‘financial stability’ in his policy deliberations. With Sydney house prices having been reported to have lifted by 3.5 percent and Melbourne by 5 percent in the last three months the risks of further boosting housing with another rate cut will be a significant consideration for the Board. While the results of today’s report point to some short term deterioration in housing sentiment the longer term picture is clearly still positive.
Indeed while we give little probability to a further rate cut at the next meeting our assessment of the growth outlook, including the shape of the construction cycle, points to rates remaining on hold for the foreseeable future. 
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BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Consumer sentiment stabilises in positive territory: Westpac's Bill Evans

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Longtime Pentana Solutions finance director Rod Dux has spent $5.6 million to buy the Monticello, Toorak penthouse from the Smorgon family.
Accessed by private lift, the Orrong Road apartment has two bedrooms, two bathrooms a study and a large wrap around balcony.
It had been a $2,200 a week rental before the recent sale.
The Marshall White agency secured the sale after just seven days on the market. 
The Palladian Development project was completed in 2003. It first sold at $2.85 million in 2004 after being designed by Demaine Partnership. The 11 apartment complex was named after former American President Thomas Jefferson's residence.
This article was first published in the Weekend Australian Mansion Australia property section.
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Monticello, Toorak penthouse sells at $5.6 million

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<h2>An SMSF can lease an asset of the fund – such as business equipment or machinery – to a related party of the fund. This is known as an in-house asset.</h2>
An in-house asset is a loan to – or an investment in – a related party of your fund or an asset subject to a lease to a related party.
A related party of your fund can include fund members, trustees, their relatives and any companies and trusts these related parties control or influence. Employers who contribute member benefits for you or another member of your super fund are also related parties.
It’s important to remember that in-house assets can’t be more than 5 percent of the total market value of fund assets.
If your SMSF holds an in-house asset, the value of all of your funds’ assets needs to be determined at the end of the income year. The valuation enables you to test whether the market value of the in-house assets exceed 5% of the funds’ total assets at the end of a year of income.
<h2>Certain events will affect the percentage of in-house assets and there are also some exceptions to the in-house asset rules.</h2>
Your SMSF must also ensure that the lease of business equipment or machinery complies with the sole purpose test and is made on a commercial ‘arm’s length’ basis.
Can an SMSF sell a collectable or personal-use asset to a related party?
Yes – collectables and personal-use assets held in an SMSF can be sold to a related party. For items acquired:
<ul>
<li>after 1 July 2011, the sale must be made at market price as determined by a qualified, independent valuer</li>
<li>before 1 July 2011 and sold before 1 July 2016, an independent valuation is not required, however, the sale must be made on an arm's length basis.</li>
</ul>
All sales to related parties that occur on or after 1 July 2016 must be supported by an independent valuation.
What is the time limit for providing requested documents to my SMSF auditor?
You must provide requested relevant documents to your SMSF auditor within 14 days of the request being made.
If you fail to do so, you will be in breach of a statutory time period in section 35C (2) of the Superannuation Industry (Supervision) Act 1993.
Where a statutory time period is exceeded by more than 14 days, your SMSF auditor is required to report the contravention to the ATO via an Auditor Contravention Report.
What is my preservation age for accessing super benefits?
Your preservation age is the minimum age at which you can access your preserved super benefits without meeting another condition of release. It is based on your year of birth.
Your preservation age will be 55 if you were born before 1 July 1960.
If you were born after 30 June 1960, you will have a higher preservation age of:
<ul>
<li>56 – if you were born between 1 July 1960 and 30 June 1961</li>
<li>57 – if you were born between 1 July 1961 and 30 June 1962</li>
<li>58 – if you were born between 1 July 1962 and 30 June 1963</li>
<li>59 – if you were born between 1 July 1963 and 30 June 1964</li>
<li>60 – if you were born after 30 June 1964 
</li>
</ul>
To access your preserved super in the 2015-16 income year, you must have turned 55 before 1 July 2015.
Your preservation age is relevant to the following conditions of release:
<ul>
<li>reaching preservation age and retired with no intention to work again in the future</li>
<li>reaching preservation age and starting a transition-to-retirement income stream.</li>
</ul>
What happens if TRIS payments exceed the maximum annual payment limit?
A transition-to-retirement income stream (TRIS) can be paid to a member who has reached their preservation age even if they have not retired. However, strict annual payment conditions apply. The minimum annual payment amount depends on the member’s age and the maximum annual payment amount is 10 percent of the member’s account balance. 
If payments are outside the allowable limits, the TRIS is automatically taken to have ceased for income tax purposes from the start of the financial year in question. This means your fund cannot claim a tax exemption on the income from the account supporting all the payments. It also means all payments made during the financial year will be treated as a lump sum and taxed at the individual’s marginal tax rate, unless the payments are unrestricted non-preserved benefits.
Can an SMSF purchase shares in a private company?
An SMSF is prohibited from acquiring assets from a related party. There are limited exceptions, including market listed shares, business real property or in-house assets (where the value of all in-house assets does not exceed 5% of total fund assets).
In recent communications, we have described situations where an SMSF purchases the shares of a private company for the purpose of channelling franked dividends to the SMSF instead of the company’s original shareholders.
If the private company is a related party of the SMSF, the purchase would be a prohibited acquisition and a breach of section 66 of the Superannuation Industry (Supervision) Act 1993 (SISA) would occur.
How are unrestricted non-preserved benefits related to a condition of release?
The most common conditions of release for paying benefits to a member are when the member has:
<ul>
<li>reached their preservation age and retires</li>
<li>reached their preservation age and begins a transition-to-retirement income stream</li>
<li>turned 65 (even if they haven't retired)</li>
<li>died</li>
</ul>
When you meet a condition of release with no cashing restrictions, your preserved benefits become unrestricted non-preserved benefits (UNPB).
Under the rules for voluntarily cashing benefits, UNPBs may be cashed at any time. 
Can you set up an SMSF with a corporate trustee? 
Under paragraph 19(3)(a) of the SISA, the trustee of the fund must be a constitutional corporation pursuant to a requirement contained in the governing rules.
This means you need to set up a company incorporated under law and obtain a certificate of registration in order to have the company act as trustee of a fund. Registering a company incurs immediate costs and there is also an annual fee depending on the purpose of the fund.
The company must be registered before the SMSF is established.
How do I amend my SMSF annual return?
To amend your SMSF annual return you need to resubmit the whole return and answer ‘yes’ in Section A question 5.
You cannot request amendments by:
<ul>
<li>writing to us with the correct details</li>
<li>submitting a partially completed SMSF annual return</li>
<li>submitting a Request for an amendment of an income tax return form.</li>
</ul>
Can I make salary-sacrificed contributions to my SMSF and at the same time access retirement money to make mortgage payments?
There are very limited circumstances when you can access your retirement savings early. Strict criteria must be met to do so.
A release on compassionate grounds must be applied for through the Department of Human Services. In these circumstances, superannuation savings will only be released to make mortgage payments if you do not have the financial capacity to pay and your mortgagee is threatening to repossess or sell your home.
If you are voluntarily salary sacrificing into your super fund, instead of paying your mortgage, you will not qualify for compassionate grounds because you have the financial capacity to make your mortgage repayments by accessing your employment income.
You are only able to withdraw super under severe financial hardship if you have received Australian Government income support payments continuously for 26 weeks and are unable to meet reasonable and immediate living expenses. Payments from your super fund are limited to a maximum of $10,000 every 12 months.
Improper early access to your super is illegal – there are severe consequences for you and your fund if you access your super before you are legally entitled to do so. These include disqualification of trustees, the fund being made non-complying, imposition of administrative penalties, and prosecution.
Any money accessed illegally will also be assessed as income for the individual and taxed at the applicable marginal tax rate.
Can an SMSF take out insurance on a cross-insurance basis?
Regulations that came into operation on 1 July 2014 do not allow SMSFs to provide insurance for a member unless the insured event is consistent with one of the following conditions of release:
<ul>
<li>death</li>
<li>terminal medical condition</li>
<li>permanent incapacity</li>
<li>temporary incapacity.</li>
</ul>
<h2>The Explanatory Memorandum associated with the amended regulations makes it clear that the proceeds of an insurance policy must be released to the member who is the insured under the policy. This means that cross-insurance arrangements where the proceeds of an insurance policy are paid to someone other than the insured under the policy are not permitted.</h2>
Does the temporary budget repair levy apply to SMSFs?
The Temporary Budget Repair Levy started on 1 July 2014. It is a 2 percent levy that applies if your income is taxed at the highest marginal tax rate. Super fund tax rates that match the top marginal tax rate for individuals have been increased by 2 percent. These tax rates are:
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For more information from the ATO, <a href="https://www.ato.gov.au" target="_blank">click here</a>.
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Property 101: Can equipment owned by the SMSF be leased to other members of the same SMSF?

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GUEST OBSERVER
Since settlement, Australian cities have been shaped and reshaped by history, infrastructure, natural landscapes and – importantly – policy.
So, have our cities changed much in the last 30 years? Have consolidation policies had any effect? Have we contained sprawl? Yes, probably and maybe, according to our newly published research.
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<h2>Reviving the centre</h2>
The great Australian baby boomer dream of home ownership caused our cities to spread out during the second half of the 20th century. Urban fringes expanded with affordable land releases, large residential blocks and cheap private transport. 
By the 1980s, across Australia’s cities, the urban fringes were ever-expanding. Inner areas had become sparsely populated “doughnut cities”. 
By the end of that decade urban researchers, planners, geographers and economists began to warn of looming environmental, social and housing affordability problems due to unrestrained sprawling growth. 
Governments responded swiftly, focusing policy attention on urban consolidation through programs such as Greenstreet and Building Better Cities. Concerned individuals formed groups such as Smart Growth and New Urbanism to promote inner-city development and increased urban density.
Since this time, large- and small-scale policy interventions have attempted to repopulate the inner- and middle-urban areas. The common policy goal has been to encourage more compact, less sprawling cities. Subdivision, dual occupancy, infill development, smaller block sizes, inner-city apartments and the repurposing of non-residential buildings have all been used.
<h2>Mapping the changes</h2>
In a newly published paper, we map the changing shape of Australia’s five largest mainland cities from 1981 to 2011. 
Across each of these cities, which together are home to 60 percent of Australians, there has been substantial, suburbanisation and re-urbanisation. In the last 20 years this has resulted in a repopulation of inner cities. 
In Melbourne’s case, the return to the inner city has been particularly pronounced in the last decade. Here, the population jumped from around 3,000 to 4,000 people per km². 
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Melbourne may well be the exemplar for inner-city rebirth. More than any other Australian city it demonstrates the 30-year turnaround from inner-city decline to densification. 
Between 1981 and 1991 Melbourne became a classic “doughnut city”: population declining in inner areas, density increasing in the middle-ring suburbs, and growth steady in the outer suburbs. For example, in the inner 5km ring there was a decrease during this time of almost 200 people per km². 
From 1991 to 2001, even though growth was still focused on the middle and outer areas, the inner area began to be repopulated. Overall, between 1981 and 2011 there were approximately 1,500 more people per square kilometre living in the inner 5km ring.
Over the last decade, greenfield development, infill and urban regeneration have increased urban density throughout Melbourne.
While the turnarounds in Sydney, Brisbane, Adelaide and Perth have been less marked than in Melbourne, they are all no longer “doughnut cities”. This means that where people live in these cities has changed. 
Australia’s cities are now more densely populated – and we are much more likely to live in inner areas than we were 30 years ago.
<h2>A result of government policy?</h2>
We can probably attribute the changes in where urban Australians live to government consolidation policies. 
The policy focus throughout the late 1980s and early 1990s was based on incentives to repopulate inner and middle areas. 
Policies were changed from 2000 to increase population density across whole metropolitan areas. State and territory strategic plans aimed to promote urban consolidation, with a focus on the inner city. 
State and territory plans now focus much more on specific zones throughout the whole of the city, including former industrial areas and surplus government land. New housing development occurs within these defined zones, particularly around transport and areas with urban-renewal potential. 
South Australia’s 30-Year Plan for Greater Adelaide targets growth in “current urban lands”, along major transport corridors and hubs. Similarly, the Plan Melbourne – Metropolitan Planning Strategy plans to establish the “20-minute neighbourhood”, contain new housing within existing urban boundaries, and focus development in new urban renewal precincts.
The map visualisations reinforce the scale of this absolute growth across each of the five major Australian cities over the last 30 years. 
<h2>Have we contained sprawl?</h2>
Our research would suggest urban-consolidation policies have slowed but not prevented sprawl, especially in the faster-growing cities like Melbourne, Brisbane, Perth and Sydney. 
So, have we reached the point at which our cities are full? How can we accommodate future population growth? And do we need to focus our attention on new urban areas? 
Containing and, more importantly, controlling sprawl may present the next big challenge.
Neil Coffee is senior research Fellow in Health Geography, University of South Australia and can be contacted <a href="https://theconversation.com/profiles/neil-coffee-301251" 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>.
Jarrod Lange is senior research consultant (GIS), Hugo Centre for Migration and Population Research, University of Adelaide and can be contacted <a href="https://theconversation.com/profiles/jarrod-lange-301835" target="_blank">here</a>.
All are authors for The Conversation.
 
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Density, sprawl, growth: how Australian cities have changed in the last 30 years

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Two in five Hongkongers would emigrate if they got the chance with Australia the second most preferred destination, a survey has found.
The Hong Kong Institute of Asia- Pacific Studies of the Chinese University of Hong Kong conducted a telephone survey of 710 people aged 18 or above to gauge public views on emigration.
It found 39 percent indicated they wanted to emigrate with 11 percent of this group were taking action to make preparations.
The most preferred destinations, ranked by popularity, were Taiwan, Australia and Canada, according to the survey.
Dissatisfaction with governance was the major factor as to why people wanted to leave with 11 percent reflecting they were unhappy with the government, chief executive or high-ranking officials when asked about their intention to emigrate.
Overcrowded living conditions came second with 10 percent, followed by too much political dispute or social cleavage and slow economic growth or bad economic prospects.
The survey also found that 57 percent of those who had a tendency to leave the SAR were youths, aged 18 to 30 - then 26 percent being aged 51 or older. 
Eddie Kwan King-hung, founder of EK Immigration Consulting, said he has observed more emigration inquiries in the past two to three years, especially after the Occupy protests in 2014.
However, he said not many people could meet the requirements set by the popular destinations noting Australia currently takes immigrants with a Significant Investor Visa with a requirement of at least A$5 million (HK$29 million).
Kwan said Taiwan has become Hongkongers' new favorite place as there is almost no language barrier, and the island only requires an investment of NT$6 million (HK$1.5 million), sufficient for operating businesses such as a bed and breakfast or restaurants.
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Australia second most preferred destination of Hongkongers

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The lower end of Western Australia's south west property market has experienced reduced sales volume and a weakening of values, according to the valuation firm, Herron Todd White (HTW).
First home buyers and investors generally make up the buyer profile for the lower end of the market.
"The market is driven relatively equally by both (of these buyer demographics)," the HTW report stated.
"First home buyers have been stimulated by government rebates, low interest rates and property values in general being the lowest they have been for numerous years.
"These positive indicators have resulted in first home buyers returning to the market."
Competition for the lower market segment is brought by investors who are looking to capitalise on historically stronger rental market that has seen an increase in yields.
Higher yields and low interest rates create a good market for investors and this has strengthened property values.
The report said entry points into the lower end of the market range from $250,000 to $400,000 and for this amount you can purchase either a basic established residence or build a project home in one of the outlying new developments.
These established homes are in general located within closer proximity to the beach than the new developments. Established homes generally offer better capital growth potential, while the new housing market offers better yields, HTW suggested.
The middle segment of the market is also weakening as there are fewer vendors from the lower market looking to trade up. There is still good demand for well presented and well located properties within this $500,000 to $1 million price range.
"As the market is currently soft in the south west it presents opportunity to upgrade the residence as value for money is very good," said HTW.
The buyer profile usually consists of second and third time home owners or investors from Perth looking for a holiday home.
"Unfortunately, the upper end of the market is considerably slower than the lower and middle market segments," the report suggested. 
"Properties in and above $1 million are selling if they are priced correctly, however extended selling periods of six to 12 months are still common.
"This is a reflection of the limited number of prospective purchasers in this price bracket."
Sale numbers in the prestige market over recent months have reduced, especially with job losses in the mining sector. This has put pressure on the prestige property market as high income earners are taking considerable reductions in wages as they relocate.
HTW noted the south west is considered to be a premium holiday destination given its pristine beaches, surf and world renowned wine region.
Prestigious properties scattered throughout the south west, such as Naturaliste, Eagle Bay, Metricup and Yallingup are still recording sale prices regularly in excess of $1 million.
"There is still demand from the wealthy to invest and holiday in the region," stated the report.
"Overall, it is likely the property market in the south west for the remainder of 2016 will be slow.
"The swings of the Perth market during the last several years have been missed in the regions but we would recommend caution as the slow down in the state resource sector, continued weakness in Perth and general economic uncertainty could promote more of a widespread downturn throughout the market."
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Bottom end of south west WA market on the move: HTW

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GUEST OBSERVER
The value of housing finance commitments stabilised in August following a sharp fall the previous month. Recent strength in investor finance appears to be waning. 
<a href="/images/2016/10/11/Screen%20Shot%202016-10-11%20at%202.33.49%20PM.png" target="_blank">Click to enlarge</a>
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Housing finance commitments for the construction of new houses weakened sharply, suggesting building approvals may be nearing a peak. Overall though, the level of activity in the housing market is strong and there is a significant backlog of work.
The value of housing finance commitments stabilised in August, rising by 0.2 percent m/m in August following a 2.7 percent m/m fall the previous month.
In annual terms, the value of housing finance continues to fall, with commitments down 6.3 percent y/y in August. The number of housing finance commitments fell by 3 percent m/m.
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Owner-occupied finance excluding refinancing rose by 0.2 percent m/m, with a larger 0.6 percent m/m increase for upgraders. Finance for first home buyers fell by 1.2 percent m/m.
Interestingly, investor finance growth moderated for the second consecutive month, rising by 0.1 percent m/m in August compared with 0.5% m/m in July.
In trend terms, housing finance broadly appears to be rolling over (see Figure 1). This is surprising given that other data flow on the housing market has been somewhat stronger. House prices have continued to rise, auction clearance rates remain elevated, and building approvals are around record levels.
Tighter surveyed lending conditions for developers are continuing to weigh on finance for construction of new housing, which fell sharply in August, suggesting building approvals may be close to peaking (see Figure 2).
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That said, there is a record backlog of work which will continue to support growth in construction activity over the coming year. 
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Jo Masters is senior economist, ANZ and can be contacted <a href="https://www.anz.com/personal/" target="_blank">here</a>.
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Value of housing finance commitments stabilised in August: ANZ's Jo Masters

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GUEST OBSERVER
Australian housing finance approvals to owner occupiers fell 3 percent in August, below market expectations but basically in line with Westpac’s forecast and industry data.
The decline follows a 4.5 percent fall in July and underscores the uneven conditions in Australia’s housing markets which are weak in terms of finance activity and turnover but have firmed according to other, more timely indicators such as auction clearance rates and some price measures.
The detail showed owner occupier approvals ex refi somewhat firmer in the month (–1.3 percent/mth) and an uptick in construction related approvals. 
The value of investor approvals was roughly unchanged and total value of approvals up a tick (+0.2 percent/mth).
By state, owner occupier approvals were down more sharply in Vic (nearly 10 percent ex refi).
Our understanding of the data is that it should exclude loans to non residents and hence should be unaffected by recent moves by banks to cut back lending to this segment.
However, in practise this measure has often had issues about data quality including how loans are classified by respondents. Hence it is possible that these changes have impacted. 
Details  Owner–occupiers (no.)   –3%mth, –4.2%yr – ex-financing (no.)        –1.3%mth, –7.4%yr      
Construction of dwellings (no.)                  3.7%mth, –1.7%yr Purchase of newly built dwellings (no.)   –0.3%mth, 5.7%yr        
Value of loans: Owner-occupiers ($bn)   –1.6%mth, –4.9%yr Investors ($bn)                  0.1%mth, –5%yr Total ($bn)                         –1%mth, –4.9%yr Total ex refi ($bn)              0.2%mth, –6.3%yr    
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Australian owner occupier housing finance approvals down 3 percent: Westpac's Matthew Hassan

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Joel Robinson

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.

Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.

The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.

The challenge for investors is that suitable product is becoming harder to find.

For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.

Today, the development pipeline looks very different.

Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.

That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.

At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.

We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.

The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.

&nbsp;

[smartcode_project:default project_id=150017 project_image_fid=370964]

Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.

True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.

<h2>Corallo, Palm Beach</h2>

Priced from: $841,500

Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.

The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.

[smartcode_project:default project_id=112194 project_image_fid=808]

For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.

<h2>Corner House, Stones Corner</h2>

<h2>Priced from: $880,000</h2>

One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.

One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.

[smartcode_project:default project_id=149098 project_image_fid=330594]

Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.

The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.

Parkdrive Apartments, Chermside

Priced from: $749,000

The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.

The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.

For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.

Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Jonathan Chancellor

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