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<img src="https://counter.theconversation.edu.au/content/65027/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Road user charging is probably the best idea we have to reduce congestion and to enable better decisions on road investment. Average travel speeds in our cities are decreasing, and congestion is only likely to worsen as our population continues to grow.
Urban Infrastructure Minister Paul Fletcher recently gave an important speech, albeit largely unnoticed, in which he made the case for a universal road user charging scheme. Charging people to drive has previously been the dream of transport and economic policy wonks – serving politicians tend to see the idea as political poison.
Fletcher trod gently, cautioning his Sydney Institute audience that “there is a lot of work to do” and that any move in this direction would be “a ten to 15-year journey”. It is still remarkable that a federal minister even took these first steps. 
Fletcher warned of the potential impact of electric vehicles on fuel excise revenue, but automated vehicles represent an even bigger change.
The future of road use is made unclear by the looming arrival of these vehicles. Despite predictions that these could be the answer to traffic congestion, complications include the interaction of autonomous and traditional vehicles and the complexities of human behaviour.
Autonomous vehicles could even lead to greater congestion. The ease of travel in these vehicles might encourage travellers to take more trips as they reduce the time cost of being stuck in traffic by being able to read emails and stay connected while the car drives itself. Empty vehicles travelling to pick up goods and passengers could further clog roads.
Thus it is prudent to target road congestion now, especially when current strategies aren’t helping much. Building more road capacity or even improving public transport can’t solve congestion.
The best strategy is management of demand via a pricing mechanism that reflects the cost of the congestion caused by one more vehicle on the road. With prices that vary by location, time of day and distance travelled, such a scheme would encourage people to take non-essential trips at a different time, or not at all.
The charge could be efficient, as the trips that are discouraged are those for which the congestion caused outweighs the benefit derived. And it would be fair: drivers adding to the delay faced by others pay more, while those who drive in non-congested areas or at non-peak times pay less.
The ability to observe road users’ willingness to pay for road space will also give a better signal to planners of where additional road capacity will be of value to the community. 
<h2>Don’t treat it as a revenue raiser</h2>
So Fletcher deserves plaudits for raising the issue. But he got one important thing wrong: he said that the fuel excise tax funds road spending.
Pointing out that fuel excise receipts would fall with the advent of more fuel-efficient vehicles, and electric cars in particular, he argued for a road user charging scheme on the ground that it would raise revenue for road spending.
Linking fuel excise to road funding is a furphy and gets us onto the wrong track at the very start of the road-pricing journey. Fuel excise is merely one source of general government revenue and is not in any way hypothecated, meaning pledged by law to be spent on a specific purpose – in this case roads.
It is no more relevant to say that falling excise revenues will put road funding under pressure than it is to say this will put pressure on health spending or the age pension.
Furthermore, about 75 percent of road funding comes from state and local government revenue, while fuel excise is a federal tax. It is true that falling fuel excise receipts would add to the federal government’s deficit problems. But there is no reason why a loss of fuel excise revenue must be replaced by another charge on motorists, or why motorists alone should fund additional road spending.
<h2>Take care to avoid an inefficient, distorting tax 
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The government should take a holistic approach to repair its pressured budget. It should restrict the most wasteful spending, wherever it is, and introduce or increase the most efficient, fair and simple taxes. It is not helpful to limit our thinking to motorist-based taxes to solve that part of the budget problem caused by falling fuel excise receipts.
The other problem with introducing road user charging as a revenue raiser rather than a congestion reducer is that a scheme designed on those terms is likely to produce poor results.
If we approach the task asking how we can maximise revenue, we’ll end up with charges on the wrong roads, at the wrong times, priced to maximise financial return rather than optimise congestion. For example, we might charge heavily on major roads, just to increase revenue, when some targeted charges on minor roads might do more to reduce traffic. In short, we’ll have one more inefficient, distorting tax.
So kudos to the minister for opening the debate. Let’s talk about road user charging, but let’s talk about what it should really achieve.
If we start by asking the right questions, road user charging could be the best congestion management policy we’ve seen in Australia. It could improve the driving experience without the need for big spending on more road capacity, and make sure we get the most economic and social value from our roads.
Marion Terrill is transport program director, Grattan Institute and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/marion-terrill-169480" target="_blank">here</a>.
Owain Emslie is associate, Grattan Institute and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/owain-emslie-250445" target="_blank">here.</a>
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jchancellor-FAypfDUnLy

Road user charging belongs on the political agenda as the best answer for congestion management

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RE/MAX Gold’s Anthony Williams has a 34 acres of unnamed property in Graham Creek on the market.
The private undeveloped island has been attracting buyers keen to develop fishing lodges or similar ventures.
It has been listed by US-based company, which purchased the island in the 90s for the purpose of building a company getaway.
Mr Williams said the 30 to 40 minute boat trip from the Gladstone Yacht Club is inside the harbour.
Formal offers close on October 14.
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Gladstone Harbour island for sale through RE/Max Gold

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<img src="https://counter.theconversation.edu.au/content/63933/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Perth is not known as a model for suburbia and its suburban condition is similar to that of developed cities the world over.
However, it does stand out in one respect: it sits in an exceptionally biodiverse natural setting. A strong, informed vision for this setting’s relationship with the city could help Perth become an exemplar for similarly positioned metropolises everywhere.
The greater Perth region has been designated the Southwest Australia Ecoregion (SWAE). This is one of only 35 “biodiversity hotspots” in the world.
Reconciling future growth with biodiversity is a key issue for urban design and planning this century. Indeed, if current trends continue, global urban land cover will increase by 1.2 million square kilometres(equivalent to half the area of Western Australia) by 2030. Much of this will happen in biodiversity hotspots.
This is important because it is estimated we will lose nearly half of all terrestrial species if we fail to protect the hotspots. We will also lose the ecosystem services upon which human populations ultimately depend.
“Ecosystem services” may sound like abstract jargon, but it’s actually a term used to describe the services nature provides – such as clean air, water and food, and heatwave and flood mitigation. Without these, human life would be extremely unpleasant, if not unviable.
Perth has a reputedly strong planning system and is comparatively wealthy. If it can’t control its city form to protect biodiversity – compact cities generally being recognised as the best model for protecting land for conservation – then city administrators elsewhere, particularly in the developing world, are likely to struggle.
Misreading the land
The current treatment of the Australian environment has its roots in the European annexation of Australia, which has been characterised by catastrophic misreadings of the land. Governor James Stirling, who was singularly responsible for the European annexation of Perth, was the kind of man who saw what he wanted to see rather than what was there. In The Origins of Australia’s Capital Cities, Geoffrey Bolton writes:
"…arriving at the end of … an uncommonly cool, moist summer, [Stirling was] misled by the tallness of the northern jarrah forest and the quality of the alluvial soils close to the river into believing that the coastal plain would offer fertile farming and grazing. It was, Stirling wrote, equal to the plains of Lombardy; and he persuaded himself that the cool easterly land breeze of these early autumn nights must originate from a range of snowy mountains."
The results of such misinterpretations of the land were generally less poetic. Stirling sited the settlement of Perth on a narrow, constrained strip of land between swamps to the north and marshy river edges to the south. These low-lying areas fuelled plagues of mosquitos and, once polluted, deadly typhoid outbreaks.
In time, due to a lingering discomfort with Perth’s “unsanitary” wetlands, more than 200,000 hectares – an area equivalent to 500 Kings Parks – were drained on the Swan Coastal Plain. These biologically productive areas directly or indirectly support most of the coastal plain’s wildlife, so the effects on biodiversity have been catastrophic.
Furthermore, a perception of the Banksia woodland and coastal heath on Perth’s fringes as unattractive and useless has seen much of it cleared for the expansion of the city. Between 2001 and 2009, suburban growth consumed an annual average of 851ha of highly biodiverse land on the urban fringe.
The lesson from this experience is that any future growth in a biodiversity hotspot, or indeed elsewhere, has to be founded on the understanding that we cannot continue to bend nature to our will. We must learn how to work with it.
Within this humbling process, we need to recognise that working with the land is not an entirely pure or noble act; rather, it is imperative for humanity’s survival. As species and ecosystems become threatened and vanish, so too do the ecosystem services that support human wellbeing.
Perth’s Green Growth Plan
The release of the state government’s long-anticipated Perth and Peel Green Growth Plan for 3.5 million may herald a shift in the relationshipbetween the city and the biodiversity hotspot. The plan encapsulates two broad goals:
<ul>
<li>to protect fringe bushland, rivers, wetlands and wildlife in an impressive 170,000 hectares of new and expanded reserves on Perth’s fringe</li>
<li>to cut red tape by securing upfront Commonwealth environmental approvals for outer suburban development.</li>
</ul>
While ostensibly positive achievements, a question remains as to the implications of clearing a further 45,000ha (3% of the Swan Coastal Plain) of remnant bushland which is not protected by the conservation reserves.
Furthermore, the typically disconnected conservation reserves proposed in the Green Growth Plan lack overall legibility. This stymies the public’s ability to conceptualise the city’s edge, which leads them to care about it (like London’s greenbelt, for instance).
Finally, a question remains about how a plan that places restrictions on outer suburban development will accommodate the powerful local land development industry over time. This is a concern given the frequent “urban break-outs” – where urban development occurs outside nominated growth areas – between 1970 and 2005.
In 2003, the ABC asked revered Western Australian landscape architect Marion Blackwell, “Are we at home now in the land we live in?” She replied, “No, we’re not. We don’t know enough about it, and not enough people know anything about it.”
We still have work to do on our engagement with biodiversity in Western Australia, and Perth specifically, before we can become a model for future cities.
Julian Bolleter is research fellow, Australian Urban Design Research Centre, University of Western Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/julian-bolleter-292111" target="_blank">here</a>.
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Squandering riches: can Perth realise the value of its biodiversity?

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GUEST OBSERVER
Australian employment numbers surprised to the downside in August, with a fall of -4k jobs (market had 15k jobs), but the unemployment rate was better than expected, falling to a new cyclical low of 5.6 percent (market had 5.7 percent). 
The factor that reconciles these divergent trends is a noticeable decline in the participation rate, from 64.9 percent to 64.7 percent. 
This survey has been subject to measurement issues for some time now and the August numbers have often been problematic. We are therefore cautious about reading too much into the numbers. The other timely indicators of the labour market are consistent with ongoing jobs growth of about 2 percent y-o-y, which is enough to see the unemployment rate gradually edge lower. We see the RBA on hold in coming quarters. 
Facts 
- Employment fell by 4k in August (market expected +15k, HSBC expected +20k). Over the past six months, jobs growth has averaged +13k a month. Annual employment growth stands at 1.5 percent, down from 1.9 percent previously. 
- Full-time employment rose by 11k in August, but is just 0.4 percent higher than a year ago. Part-time employment fell by 15k but is up 4.1 percent from a year ago. 
- The participation rate fell from 64.9 percent to 64.7 percent, the lowest since May 2015. 
- The unemployment rate was 5.6 percent, down from 5.7 percent in July. That is the lowest unemployment rate recorded since September 2013. 
- The employment-to-population ratio was 61.1 percent, down 0.1 percent from July. 
- Total hours worked fell by 0.2 percent m-o-m. Trend annual growth in hours worked stands at 0.5 percent y- o-y, having hit 2.8 percent y-o-y in November 2015. 
Implications 
The unemployment rate fell to the lowest level in around three years in August, although not for positive reasons. Total employment was actually down slightly, partly due to sample rotation. But this was more than offset by a lower participation rate, which meant that the overall labour force shrank. A drop of 0.2ppts in the participation rate may not sound like much, but if participation had held steady the unemployment rate would actually have climbed to 5.9%, by our calculations. 
Overall then, the monthly result is a weak one. But as always, we treat a single month’s labour market data with a great degree of caution, especially in light of the disruptions seen in the seasonal pattern in recent years (particularly in the August and September months). It is trends that emerge over several months that matter, and for now there is little evidence to suggest a material slowdown in employment growth from a pace of around 2 percent y-o-y (equivalent to around 20k jobs per month). Other indicators, such as job advertisements and business conditions, also point to continued growth at around that rate. 
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Ordinarily, annual employment growth of 2 percent or just below would be enough to offset growth in the labour force and keep the unemployment rate broadly steady. Over the past year, we have seen slightly lower participation – unusual given solid employment growth – and if that continues unemployment may continue to ease gradually lower. We also see potential for the labour market to strengthen from around mid-2017 as the drag from mining investment diminishes and domestically-driven growth picks up. 
<a href="/images/2016/09/16/Screen%20Shot%202016-09-16%20at%208.10.49%20AM.png" target="_blank">Click to enlarge</a>
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<a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">PAUL BLOXHAM</a> IS CHIEF ECONOMIST (AUSTRALIA AND NEW ZEALAND) FOR HSBC.  
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Unemployment rate down, but participation also falls: HSBC's Paul Bloxham

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<img src="https://counter.theconversation.edu.au/content/65328/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Banks may still be evading increased regulation by shifting activities to shadow banking. This system is well established as part of the financial sector, but it provides products that separate an investor from an investment, making it more difficult to evaluate risk and value.
This lack of transparency increases the risk in our financial system overall, making it vulnerable to the types of shocks that caused the 2008 global financial crisis. A current example is the so-called “bespoke tranche opportunity” offered by shadow banks. This is similar to the notorious collateralised debt obligations, packages made up of thousands of mortgage loans some of which were sub-prime, blamed for the global financial crisis.
Shadow banking is comprised of hedge funds, private equity funds, mutual funds, pension funds and endowments, insurance and finance companies providing financial intermediation without explicit public liquidity and credit guarantees from governments. Shadow banking is usually located in lightly regulated offshore financial centres.
In the period leading up to the global financial crisis, a large portion of financing of securitised assets that allowed regulated banks to exceed limitations on their risk-taking was handled by the shadow banking sector.
To this day, shadow banking continues to make a significant contribution to financing the real economy. For example, according to the Financial Stability Board, in 2013 shadow banking assets represented 25% of total financial system assets. While the average annual growth in assets of banks (2011-2014) was 5.6%, shadow banking growth stood at 6.3%.
A comparison of country-based share of shadow banking assets between 2010 and 2014 reveals the largest rise for China from 2% to 8%, while the USA maintains its dominance of the shadow banking markets with around 40%.
The failure of private sector guarantees to help shadow banking endure the global financial crisis can be traced to underestimated tail risks by credit rating agencies, risk managers and investors. Credit rating agencies lack of transparency, when it comes to explaining their methods (often disguised as “commercial-in-confidence”), continue to make it difficult for a third party to check assessments.
An excess supply of inexpensive credit also contributed to risk before the global financial crisis of 2008. This was because investors overestimated the value of private credit and liquidity enhancements.
One of the key challenges for regulators now is to devise rules and standards requiring shadow markets to hold enough liquidity to be sufficiently sensitive to risk. However, where investors and financial intermediaries fail to identify new risks, it is less likely that the regulators – who have fewer resources – will succeed.
Raising capital requirements can limit the capacity of financial intermediaries to expand risky activities, although monitoring overall bank leverage may be better. This is because credit ratings cannot be relied upon in the presence of neglected risks. Similarly, monitoring rising exposure of regulated banks to shadow banking or untested financial innovations can also become part of the regulator’s arsenal.
But there remains a major problem that is unlikely to be resolved by any regulation. Regulation is meant to strike a fine balance between close supervision and allowing space for financial innovation because loss of diversity can create stronger channels of transmission and could expose financial systems to greater systemic risk.
Too little regulation encourages excessive risk taking, while too tight a regulation is bound to strangle the financial sector that provides the lifeline for the economy. Striking such a fine balance is next to impossible in a dynamic, global financial sector.
The Basel Accords, set up to strengthen regulation after the financial crisis, will continue to play a key role in helping manage systemic risk like this. For example regulations can collect data that would be useful in macroprudential regulation, taking action to reduce various risks and remaining alert to unfolding trends on the ground.
Regulators need to heed the trends in shadow banking as part of this, to ensure transparency. However the nature of this sector, the long chains and multiple counterparties with unclear financial obligations, will continue to make the job of the regulator very difficult.
Necmi K Avkiran is associate professor in Banking and Finance, The University of Queensland and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/necmi-k-avkiran-298084" target="_blank">here</a>.
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Shadow banking increases the risk of another global financial crisis

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A trophy home on Bellevue Hill's Ginahgulla Rd has been listed for sale.
It has harbour views from its elevated 923sq m block which has a swimming pool.
The home is listed with a guide of $19.1 million to $21 million.
The <a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-123531410" target="_blank">four bedroom home</a> also features a media and billiards room, a library, gym, sauna and an air conditioned wine cellar.
It is owned by David Maloney, a partner at the law firm Allens, and his wife Erin Flaherty. 
Maloney bought the property in 1992 for $2.3 million.
It is listed with Pillinger’s Brad Pillinger and co-agent Ken Jacobs of Christie’s International. 
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Bellevue Hill trophy home listed

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<img src="https://counter.theconversation.edu.au/content/65164/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Parklets are popping up everywhere. Cities around the world – and increasingly across Australia from Fremantle to the Fraser Coast – are introducing programs to convert roadside parking spots into more green and sociable spaces.
In Sydney, Waverley Council’s Urban Interventions program received an award for “best planning idea” from the Planning Institute of Australia (NSW) in 2014. The Glebe Chamber of Commerce is running a crowdfunding campaign to turn its pilot parklet into a more lasting installation.
Before parklets there was PARK(ing). In 2005, members of the San Francisco design collective Rebar paid an on-street parking meter for two hours. Rather than park a car, Rebar used the space to create a “park” with turf, a tree, a bench and signs inviting passers-by to sit and relax. Rebar then packed up and returned the space to its former condition.
While the event was not intended to continue beyond the initial two hours, photos and video were rapidly shared online. The images proved inspirational: requests quickly came from people asking how to create their own “parks”. Rebar responded by producing a how-to guide and decided to launch an event that would make a much bigger statement about the use of public space.
<h2>Going global</h2>
In 2006, the first PARK(ing) Day was celebrated with 47 “parks” in 13 cities across three countries. The event grew rapidly, expanding to more than 200 parks in 2007 and featuring in the Venice Architecture Biennale in 2008. By 2011, PARK(ing) Day included almost 1,000 parks in 35 countries.
PARK(ing) Day has spread beyond the event itself. As well as parklet programs, the first of which was introduced in San Francisco in 2010, the day has inspired a number of other activities.
Participants have gone on to develop a range of related events, from the skipsters of Melbourne to the temporary villages of Montreal to the worldwide Better Block movement.
At the core of PARK(ing) Day is an idea about law. Paying the parking meter was seen as a way to access ownership, albeit temporarily, in a city where the means to acquire legal title were beyond the reach of many residents.
Its instigators described this act as creating a “lease”, a property right that brought with it a right to engage in planning, by participating in the development of a vision of what could be and, significantly, in the (fleeting) material creation of that vision.
At first, the vision was for more parks in an area that – according to the city’s own maps – had little green space. In subsequent iterations in cities around the world, PARK(ing) Day participants have claimed and reclaimed the street in diverse and dynamic ways: from croquet greens to community health clinics, libraries to lemonade stands, bike workshops to weddings.
Turning a parking space into a park is a quirky idea, but even in 2005 it was not entirely new. Precedents can be found in many cities over many years: from the installations on California roads by Bonnie Ora Sherk in the 1970s, to the Parking Meter Parties held in Hamilton, Ontario, from 2001, to Ted Dewan’s road witching in Oxford, UK, from 2003, to Michael Rakowitz’s 2004 (P)LOT projects in Vienna, Austria, and Trento, Italy.
Yet none of these precursors succeeded in engaging or inspiring people on such a grand scale.
<h2>The power of a ‘sticky’ idea</h2>
Rebar describes PARK(ing) Day as a “sticky” idea. With very little organisation – almost none in recent years, since Rebar no longer exists – the event has proved extremely durable.
While some participants engage consistently over many years (the Sydney office of  ARUP has built “parks” seven times since 2008), most participate just a few times. PARK(ing) Day continues to attract new participants: North Sydney Girls High School and locals around Australia Street, Newtown, are some of the newest.
The reach of PARK(ing) may be traced to the power of the initial image, or to the success (or luck) of Rebar in connecting with particularly influential people.
More than this, however, a key part of the event’s success is its connection to law. PARK(ing) Day was not presented as a protest, a plea for change, or a proposal for reform. On the contrary, PARK(ing) Day was expressly presented as something already legal. PARK(ing) Day provides a powerful invitation to citizens around the world to rethink the city and their place in it.
Friday, September 16, is the 11th PARK(ing) Day. 
Amelia Thorpe is senior lecturer and Director of Environmental Law Programs, UNSW Australia and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/amelia-thorpe-15408" target="_blank">here</a>.
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A day for turning parking spaces into pop-up parks

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<img src="https://counter.theconversation.edu.au/content/63724/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
There are more displaced people in the world than ever before. And humanitarian crises across the globe are often in unreachable and volatile places.
For example, the United Nations estimates more than 5.47 million internally displaced Syrians are scattered across the country.
Getting assistance to populations in need demands new ways of doing development that are smarter, faster and more efficient. The status quo is no longer an option.
One group whose efforts are gaining recognition are diasporas. Diasporas are composed of former migrants and refugees who can play a role in assisting their countries of origin through fundraising, development work and, in some instances, political action.
What contributions are diasporas making?
With one of the largest South Sudanese diasporas in the world, Australian organisations have been working hard to train and support Australians of South Sudanese origin who can assist with the urgent task of rebuilding their homeland and encouraging peace initiatives.
The Syrian diaspora has been praised for getting aid to parts of Syria inaccessible to the UN and international NGOs.
In closed-off countries such as Eritrea, diaspora organisations play a vital role in raising awareness about human rights in their country of origin.
So, are diasporas the missing piece of the development puzzle? What makes them so valuable? And what can be done to help them to bring aid to people in need?
Remittances
One of the most visible ways diasporas can assist development is through remittances.
The World Bank reports officially recorded remittances to developing countries reached US$427 billion in 2014. This figure does not include informal remittances transferred through private money transfer groups and goods shipped or sent through family members and friends.
Remittances exceed the aid budgets of many countries. They can provide a quick source of funding in times of humanitarian crisis.
After the 2009 tsunami in Samoa, it was estimated 90% of affected households received international remittances. Of these, 72% received them within a week of the disaster. Formal aid systems are rarely able to achieve such timely results.
During the ebola outbreak in Sierra Leone, diaspora groups rallied and even created a Diaspora Ebola Task Force in the UK to help people in need.
And, in Syria, 75% of all aid is being delivered through local organisationsthat are supported by diaspora groups.
International instruments
Recognising the skills and knowledge of diasporas, agencies such as the International Organisation for Migration and UN Development Programrun practical programs to assist qualified diaspora members to return temporarily to their countries of origin and provide training in areas of expertise.
The Danish Refugee Council supports diasporas by co-ordinating emergency responses and providing small grants for development assistance. In Australia, Diaspora Action is pioneering work with communities from countries affected by war and conflict to help them promote peace, development and human rights in their countries of origin.
However, this effort is not without its challenges. Formal aid organisations have raised concerns that diaspora groups may sacrifice fundamental principles of neutrality, humanity, impartiality and independence in their work. The integrity of aid work depends on the fulfilment of these principles, particularly at a time marked by attacks on aid workers.
In response, diaspora organisations highlight their deep knowledge of local contexts and closeness to communities. They say international NGOs and UN agencies often treat them merely as service providers, rather than true partners, and that excessive bureaucracy hinders aid responses.
Political importance
What can be done to bridge the divide?
Migrant-receiving countries such as Australia can recognise the sizeable diasporas residing within their own communities. This includes recognising the political importance of diasporas, which may function as an early warning system for changing developments in countries of origin.
Work can be done at the foreign policy level to help affected countries develop policies that allow them to tap into their diasporas. For example, Kenya launched a diaspora policy in 2015. This is a major development for a country that obtains at least 3% of its GDP from remittances sent by its estimated 3 million diaspora members.
And, building on lessons from Syria, the Overseas Development Institutehas called for creative ways of working in complex humanitarian emergencies.
Imperatives for investment and innovation
This echoes calls during the recent World Humanitarian Summit for closer and principled partnerships with local actors.
For example, if diaspora groups lack the know-how and staff capacity to participate in what can be many and complex co-ordination meetings, closer partnership with international NGOs and UN agencies could bridge this gap.
Funding is one of the most important pieces of the diaspora-development puzzle. Diaspora organisations often miss out on funding from traditional donors because they lack the skills to write proposals, or because of donor perceptions about their politicised nature.
Despite adaptations and changes, diaspora groups have shown their longevity as humanitarian and development actors. They bring immense goodwill alongside their specialist knowledge of local contexts. Their efforts can be supported in many ways, including working to improve the knowledge base upon which diasporas, as development partners, are built.
Melissa Phillips is honorary fellow, University of Melbourne and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/melissa-phillips-9115" target="_blank">here</a>.
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Are refugee and migrant diasporas the missing piece of the development puzzle?

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One of the four Richmond cottages transformed on the first season of The Block set in Melbourne has hit the market for September 24 auction.
The Victorian workers' cottage at <a href="https://www.realestate.com.au/property-house-vic-richmond-123404150" target="_blank">41 Cameron Street </a>was renovated by Amie Godde and Katrina Chambers in 2011.
RT Edgar Hawthorn has the three-bedroom house with a price guide of $1 million to $1.1 million through Glen Coutinho.
It’s been rented for the past few years with the option to buy with or without the furniture.
Sleek black cabinetry is a distinctive feature in the kitchen and living area.
An outdoor entertaining area with a sunken lounge and fire pit and exposed brick in the front bedroom are design features.
The home was one of three passed in during that season’s dud final episode.
Glen Iris investors bought the house for $860,000 shortly after the televised auction.
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The Block Richmond cottage returns to market for September auction

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 Australia has roughly “six weeks” to prevent a housing market collapse caused by the banks’ crackdown on foreign investment, a US-based security think tank has warned, according to a News Limited press report.   Quite clearly, you can tell from the website of the think tank, the International Strategic Studies Association, are not exactly experts in the field of Australian housing.   As I tweeted out yesterday, if we are truly six weeks away from a national housing crash, why are most leading indicators such as auction clearance rates and total real estate listings suggesting otherwise?   And surely we would also be already recording a significant rise in non-performing loans? The chart below shows that’s clearly not the case. Such loans, in fact, remain at low levels. <a href="/images/2016/09/15/e7a43fa6-d686-4b6d-b16d-d1e7f2464075.png" target="_blank">Click to enlarge</a>
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<div><img src="/images/2016/09/15/e7a43fa6-d686-4b6d-b16d-d1e7f2464075.png" alt="">   We pretty much have had from the time the national market started to rally in late 2012, a pile of market bears declaring the imminent crash of the Australian housing market. They are, what I call, the boys who cried wolf. And one thing they all have in their favor is a media circus who will give them all a front page and reporters who rarely check their credentials, qualifications or their previous track records, which too often leave little to be desired.   I guess, in the above story at least, News Limited, who had the 'exclusive', asked for a counter view. I am also pleased to say one very major television network opted out of taking the ‘story’ any further when they contacted the SQM Research office for its view.     More than this, I am convinced there is an industry of bear spruikers who earn a living preaching the end of the financial world, and for that matter, the demise of Australian housing. Take this example from Harry Dent -   a very public figure who has repeatedly made trips to Australia preaching the end of our housing market.  No wonder he enjoys coming out here.  You see, if you want to hire out Harry for a speaking engagement, the cost will be US$20,000 to US$40,000. Not bad for a day’s pay!   I’m sure if I were to dig deeper into a number of these very public bears, we would most certainly uncover a prosperous industry. That is, so-called experts making big dollars out of preaching doom.   Now, I have always said that I have no problem with those voicing the risks in the Australian housing market. There are indeed many risks, particularly those associated with the ever-rising level of household debt to GDP and what that would mean if our country just returned to ‘normal’ cash rate settings. That would indeed likely trigger a real rise in bad loans.  </div>
<div> </div>
<div>These risks need to be pointed out to all participants. That, along with particular risks within the housing market, such as a clear oversupply of Brisbane CBD apartments, as the elevated vacancy rate highlights.   And for that matter the ongoing collapse of the Perth rental market, particularly in the Perth CBD itself, where the vacancy rate is over 8 per cent.   But it’s when I see headline-grabbing stories like the one above, with no follow up investigation, that I feel the public are been taken for a ride by sections of the media and by 'experts' out to grab a headline and maybe a quick buck.   Sorry to say, the great Australian housing crash predicted by Harry Dent and other so-called experts in 2014, 2015, 2016 and 2017 is far from a certainty.   There are many other ways our overvalued housing market may return to some sort of sense of fair value, which could include the very ‘boring’ scenario of underperformance for a very long time.</div>
<div> </div>
<div>Louis Christopher is managing director, SQM Research and can be contacted <a href="https://sqmresearch.com.au" target="_blank">here</a>.</div>
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Housing collapse claims a money game: SQM's Louis Christopher

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

Joel Robinson

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

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

Sherpa acquires new site for second Brisbane apartment tower

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

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

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

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

Jonathan Chancellor

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