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Coca-Cola has put its redundant vintage Kings Cross billboard up for auction, with proceeds going to the Wayside Chapel.
<a href="https://stores.ebay.com.au/bidsforgood/cocacola" target="_blank">Pieces of the former sign</a> will be sold on ebay while held in storage at a Girraween warehouse in Sydney. 
Coke will auction the eight letters individually over five days from September 7. 
The two largest letters, the “Cs”, are more than 5.4m tall, up to 6.6m wide, 29cm deep and weigh 65kg each. The smaller letters are around 2.8m tall, between 1.2m and 2.6m wide, 29cm deep and weigh between 25kg and 40kg.
The flashing neon billboard has been refurbished with the old lights being replaced with a more energy efficient billboard.
The billboard was built in 1974 with its 800 neon lights switched off permanently last September for work to begin on the billboard’s refurbishment.
The charity fundraiser is being promoted on the billboard, Mumbrella reported.
<img class="aligncenter size-large wp-image-391360" src="https://d1pet9gxylz2tx.cloudfront.net/uploads/2016/08/Screen-Shot-2016-08-28-at-1.39.05-pm-468x267.png" alt="Screen Shot 2016-08-28 at 1.39.05 pm" width="468" height="267">
According to the promotion, proceeds from the sale will go to Kings Cross charity Wayside Chapel. 
The Wayside Chapel recently expanded to Bondi Beach. On 1 July 2016, the Chapel by the Sea in Bondi Beach officially came under the management of Wayside. 
Following an interim 12-month arrangement, The Sydney Presbytery of the Uniting Church of Australia (UCA) will officially grant The Wayside Chapel of Kings Cross all responsibility for the governance and management of Bondi’s Chapel by the Sea and its related operations.
This includes the Community Services Centre at Norman Andrew’s House, and the North Bondi Op Shop, as well as the programs, worshipping communities and the resources that form part of the Chapel by the Sea.
Reverend Graham Long, Minister and CEO of the Wayside Chapel, and Reverend Graham Anson, Minister of Chapel by the Sea, welcome the opportunity to work together.
The first priority following the announcement will be a $100,000 upgrade of the facilities at Norman Andrew’s House, followed by a $630,000 redevelopment of the Chapel by the Sea to transform the site into a beacon for the community with a café, chapel, performance area, co-working space and two serviced holiday apartments.
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jchancellor-FAypfDUnLy

Coca-Cola sign up for sale in pieces

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The most affordable Sydney property reported sold at the weekend was a two-bedroom home at 8/27-31 Napier Avenue, Lurnea, which fetched $470,000 through Ray White Wetherill Park.
The <a href="https://www.realestate.com.au/property-house-nsw-lurnea-123253598" target="_blank">90 sqm two storey townhouse</a> sold at $292,000 in 2012 and $290,000 in boomtime 2004.
It was first sold on its 2000 completion at $198,000.
CoreLogic puts the median unit price as $480,000.
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Lurnea two bedroom flat was Sydney's cheapest weekend sale

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The Darlington inner-city warehouse of photographer Baz Anderson and his partner, Beverley Larsson, was listed for sale with initial $2.5 million hopes which were raised to $2.65 million.
But the three-level property fetched $3.325 million at weekend auction.
It was used as a studio for the portraiture work by J. Barry Anderson.
The Ivy Lane property has a commercial lease until October at $6,500 a month to the market research agency Ruby Cha Cha.
The vendors bought the then single-storey industrial building on its 170 sqm block in 1992 for $220,000.
There's 293 sqm internal space plus a 17 sqm mezzanine level. 
Estate agent William Phillips marketed it as a designer home.
The buyers are believed to be a couple from the area, The Sunday Telegraph reported.
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Ivy Lane, Darlington warehouse finds $3.325m buyer

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There are $3.5 million hopes for the Noosa Springs, Queensland home of Budget Direct Insurance founder Mike Weston and his wife, Annette.
They have listed their house that is set on a lakefront lot with views over Noosa Springs Golf Course.
The property, completed in 2012, was designed by Sunshine Coast architect Paul Clout.
It won four industry awards.
The living areas have banks of bifold doors that open to the surrounds.
All of its four bedrooms have suite-like proportions and come with their own bathrooms.
Craig Bundy of One Noosa holds the listing.
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$3.5 million hopes for Noosa Springs trophy

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The Hunter Valley vintner James Kirby has listed Hungerford Hill Winery. 
The 22-hectares feature the landmark building with a restaurant and function rooms.
Its cellar door was designed by architect Walter Barda to look like a wine vat with the lid up.
<a href="https://jurds.com.au/listings/rural_sale-886817-pokolbin/" target="_blank">Some $6 million plus is being sought</a> for the property and stock through Alan Jurd and Cain Beckett of Jurds Real Estate.
Kirby bought the winery, then known as One Broke Road, in 2003 for $4.25 million from former McDonald’s senior executive Tim Tighe.
The property was expanded and it has been extensively redeveloped.
Kirby also purchased the Hungerford Hill label for the property. The brand was established in 1967.
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Hungerford Hill winery listed by James Kirby

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GUEST OBSERVER
Low-energy or zero-energy housing is international best practice, but is still considered costly.
Part of the problem is that studies of housing standards typically use only cost-benefit analysis to assess their value, and so often wrongly conclude that sustainable housing is unaffordable.
Our new research shows how such analyses may miss some flow-on financial benefits – such as reduced energy bills and lower mobility costs. Most importantly, these analyses also overlook effects on householders' health and quality of life arising from factors such as improved thermal comfort.
Sustainable housing can also have important benefits for some of the most vulnerable members of our community, as the report released this week shows.
The environmental performance of Australian housing has improved slowly, associated with changes in minimum building regulations and the creation of subsidies such as solar rebates. This is despite sustainable housing having many documented benefits, including lower (or non-existent) utility bills and greenhouse gas emissions, and improved comfort and health.
Conventional cost-benefit analyses exclude these benefits. That leaves significant gaps in the story that could be used to support investment in sustainable housing.
<h2>What did the study assess?</h2>
Our study involved a three-year, mixed-method evaluation of a small sustainable housing development in Horsham, Victoria. Commissioned by the Victorian Department of Health and Human Services (DHHS), the study used both quantitative and qualitative methods, which are rarely combined to assess housing policy and environmental performance.
Four two-bedroom, nine-star-rated (under the National House Energy Rating Scheme, NatHERS) houses were built to maximise passive solar principles. The design elements and technologies used included (partial) reverse brick-veneer construction, double-glazed windows, solar hot water, a 1.5-kilowatt solar photovoltaic system and a shared 5,000-litre rainwater tank.
The houses were built without air conditioning. They do have ceiling fans and gas heating in the living area.
We evaluated these nine-star houses against seven control houses also in Horsham and built to DHHS standards, with a six-star NatHERS rating. We also compared the results to a DHHS technical model of standard industry practice. We conducted a traditional cost-benefit analysis, technical performance analysis (utility consumption, internal temperature), three rounds of interviews with the householders during different seasons, and a personalised household sustainability assessment.
Through a traditional cost-benefit lens, the nine-star housing was not financially viable for DHHS. Even if DHHS was able to capture the savings to the householders, payback was only achieved within 40 years for one of the four dwellings in a high-energy-price future. This was due to higher-than-expected capital costs for the sustainability initiatives.
<a href="/images/2016/08/29/image-20160727-21569-1rlvkw5.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/29/image-20160727-21569-1rlvkw5.jpg" alt="">
<h4>
Falling short: the conventional cost-benefit outcome for the nine-star houses. RMIT Centre for Urban Research, DHHS
</h4>
However, resale value could be up to A$40,000 higher per unit. The technical performance analysis also identified significant benefits for the nine-star households. These included reduced utility consumption and bills. One occupant told us:
Look, I haven’t paid any off my power bill in six months and I’m still in credit.
We found that these households:
<ul>
<li>
were A$1,000 a year better off as a result of reduced utility consumption (including solar feed-in tariff);
</li>
<li>
purchased 45 percent less electricity than the control households (and 73 percent less than the standard industry practice);
</li>
<li>
consumed 22 percent less water (30% less than the industry standard);
</li>
<li>
had 40 percent less CO₂ environmental impact from power use (63 percent less than the industry standard); and
</li>
</ul>
<h4><a href="/images/2016/08/29/image-20160728-21558-1mcn2gn.jpg" target="_blank">Click to enlarge</a></h4>
<img src="/images/2016/08/29/image-20160728-21558-1mcn2gn.jpg" alt="">
<h4>
Car equivalent of environmental performance. RMIT Centre for Urban Research, DHHS
</h4>
<ul>
<li>were comfortable with the indoor temperature of their house for 10% more of the time (even without air conditioning).</li>
</ul>
<h4><a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/132279/area14mp/image-20160728-21591-wyl97v.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/132279/width754/image-20160728-21591-wyl97v.png" alt=""></a></h4>
<h4>
Summary of average annual utilities consumed/generated from each dwelling. RMIT Centre for Urban Research, DHHS
</h4>
Extreme weather events magnified the comfort benefits. On a second consecutive day above 41℃, the nine-star houses were up to 16.6℃ cooler (without air conditioning) compared to the department’s standard six-star house (which had air conditioning).
This meant householders could stay at home during heatwaves rather than needing to seek alternative accommodation, which happened sometimes for the control households. One occupant said:
…in summer I would sit down at the supermarket, you know, because it was cool … [Now] I can stay home and veg out.
<h4><a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/132280/area14mp/image-20160728-21574-1kidnxz.jpg"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/132280/width754/image-20160728-21574-1kidnxz.jpg" alt=""></a></h4>
<h4>
Temperature in the living rooms of monitored houses and external temperature for January 18-19, 2013. RMIT Centre for Urban Research, DHHS
</h4>
<h2>Residents confirm well-being benefits</h2>
Interviews with residents highlighted positive social outcomes from living in sustainable housing, which supported the technical data. The benefits they described included improved health and personal finances.
For example, these householders said they had extra spending money due to low (or no) utility bills. This meant they could buy children Christmas presents, avoid personal debt and lay-by, or go on a holiday.
"I do go clothes shopping on occasion now instead of thinking, “Oh God, I have to go and lay-by that.”
Householders described how this led to reduced stress and better mental health.
The research demonstrates that the housing sector’s over-reliance on cost-benefit analysis may be overlooking important benefits (and detriments) of different housing arrangements. Combining qualitative and quantitative evaluation methods can help uncover a more detailed and complete picture of how housing affects people’s lives.
Our research also highlights how sustainable housing benefits extend beyond the environment. These flow-on effects can improve the living conditions of some of the most vulnerable members of society. This, in turn, potentially reduces pressure on health and other support systems and sectors.
<h2>Combining sustainable and affordable housing</h2>
Our study is part of an emerging body of research that challenges the idea that sustainable housing is unaffordable.
The evidence increasingly shows that sustainability and good design can improve affordability when fuller cost-benefit analyses are undertaken and non-monetised social, health and well-being benefits are considered.
To date, however, there is limited “real world” research into people living in sustainable housing, particularly in the affordable housing sector. Without more multidisciplinary evaluations of this kind, we are left with an incomplete picture of the benefits of this type of housing.
Such studies will be critically important as Australia seeks to make the transition to a more sustainable future. Climate change and increased livability costs are likely to add to the challenges for social housing organisations and the tenants who depend on their services.
Trivess Moore is research Fellow, RMIT University and can be contacted <a href="https://theconversation.com/profiles/trivess-moore-12580" target="_blank">here</a>.
Cecily Maller is vice chancellor's Senior Research Fellow, RMIT University and can be contacted <a href="https://theconversation.com/profiles/cecily-maller-15732" target="_blank">here</a>.
Ralph Horne is deputy Pro Vice Chancellor, Research &amp; Innovation; Director of UNGC Cities Programme; Professor, RMIT University and can be contacted <a href="https://theconversation.com/profiles/ralph-horne-160543" target="_blank">here</a>.
Yolande Strengers is senior Research Fellow, Centre for Urban Research, RMIT University and can be contacted <a href="https://theconversation.com/profiles/yolande-strengers-15350" target="_blank">here</a>.
All are authors for The Conversation.
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Sustainable housing’s expensive, right? Not when you look at the whole equation

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Westpac, in a memo sent to mortgage brokers, has announced it was introducing a new Flexi First Option Home Loan and Flexi First Investment Property Loan offer for a limited time, to replace the existing Flexi First offers in market.
New principal-and-interest owner-occupied loan applications will receive an 89 basis point introductory discount for the first three years of the loan.
This would revert to a 45 basis point discount for the remaining loan term.
New principal-and-interest investment loan applications will receive a 96 basis point introductory discount for the first three years of the loan.
This would revert to a 52 basis point discount for the remaining loan term.
Westpac’s new Flexi First Option discounts came into effect Tuesday 23 August, the Australian Broker website advised.
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Westpac offers 89 basis point introductory home loan discount

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Three Melbourne sports stars secured weekend property sales as winter auction success rates finished on a high. 
Test cricketer Peter Siddle and fiance Anna Weatherlake’s four-bedroom home at Ormond sold for <a href="https://www.realestate.com.au/property-house-vic-ormond-123228630" target="_blank">$2.05 million after auction</a> (above).
Their renovated California bungalow, which was passed in at $2.02 million, sold to a New Zealand family moving to Melbourne.
They celebrated their success on social media, advising they <a href="https://www.instagram.com/petersiddle403/?hl=en" target="_blank">now have a bayside suburb building project</a>.
The Olympic sailing gold medallist Mark Turnbull secured a <a href="https://www.realestate.com.au/property-house-vic-gardenvale-123241858" target="_blank">$2.2 million post-auction sale</a> of his Gardenvale family home to a couple from Richmond (below).
<img src="/images/2016/08/29/Screen%20Shot%202016-08-29%20at%209.10.57%20AM.png" alt="">
And the axed North Melbourne midfielder Nick Dal Santo and wife, Julie secured <a href="https://www.realestate.com.au/property-apartment-vic-elwood-123234414" target="_blank">$704,000 for an Elwood investment property</a> (below). 
<img src="/images/2016/08/29/Screen%20Shot%202016-08-29%20at%209.11.56%20AM.png" alt="">
There were four bidders for the two-bedroom apartment at 28/125 Ormond Rd which had a $700,000 reserve. It cost $510,000 in 2008.
Some 2,113 auctions were held across Australia’s capital cities on the last weekend of winter, a rise on the prior 1,795 weekend offerings, but still lower than the 2,654 auctions held at the same time last year. 
The national auction clearance rate was 76 percent this week, higher than last week’s result of 75 percent.
Representing another year-to-date high for the combined capitals, CoreLogic noted late last winter the auction clearance rate was recorded at 73 percent.
"Over winter 2016, clearance rates have ranged from a low of 65 percent to a high of 76 percent, compared to last winter where the weekly clearance rate remained above 70 percent each week for the entire winter season, peaking at 78.5 percent at the start of June," Kevin Brogan at CoreLogic said.
The top sale across the nation was in Cremorne Point, with a home <a href="https://www.realestate.com.au/property-house-nsw-cremorne+point-123218458" target="_blank">overlooking Sydney Harbour</a> fetching $6.4 million, some $500,000 over reserve (below).
<img src="/images/2016/08/29/700_cremorne.jpg" alt="">
It was an 1895 home on 600 sqm at 23 Cremorne Road that was sold through Belle Property.
Melbourne had a $6.205 million sale in Deepdene where price guidance had been $4 million to $4.5 million f<a href="https://www.realestate.com.au/property-house-vic-deepdene-123239762" target="_blank">or an 1890s home, Kesteven</a>.
<img src="/images/2016/08/29/Screen%20Shot%202016-08-29%20at%209.15.08%20AM.png" alt="">
The slate roofed, single storey home was called on the market at $4.9 million, according to the James Buyer Advocates, with bidding then from six interested buyers taking it $1.3 million higher. The five bedroom home on 1300 sqm had sold at $1.83 million in 2004.
In Malvern, bidding stopped at $5.75 million with an undisclosed sale subsequently of 52 Elizabeth Street which was expected to sell for about $6 million.
Melbourne’s preliminary clearance rate was 79 per cent, compared to 75 per cent last week and 76 per cent at the same time last year.
There were 1,046 Melbourne homes taken to auction, up on last weekend's 789, yet still tracking lower than at the same time last year when 1,188 went to auction.
Melbourne's most affordable property reported sold at the weekend was a one-bedroom unit at <a href="https://www.realestate.com.au/property-apartment-vic-flemington-123245538" target="_blank">3/106 Ascot Vale Road, Flemington</a> sold for $240,000.
<img src="/images/2016/08/29/700_flemington.jpg" alt="">
The apartment, recently available at $250 a week rental, had last sold at $49,000 in 1988.
Sydney's preliminary clearance rate was 81 per cent, representing an easing from last week’s 84 per cent, which was the strongest final auction clearance rate Sydney has reported for the year so far.
In Sydney 762 auctions were held, compared to 687 last week and 1,106 one year ago.
Domain had the northern beaches of Sydney as the top performer with a 91.9 per cent success rate. 
This week Brisbane was host to 127 auctions, with a preliminary clearance rate of 47 per cent. This week’s volume of auctions represents a rise from last week’s 125 auctions, but lower than the 169 auctions held one year ago. At the same time last year, Brisbane’s clearance rate was 54 per cent.
The nation's cheapest weekend auction result was on Brisbane's outskirts at Ipswich when<a href="https://www.realestate.com.au/property-house-qld-eastern+heights-123216738" target="_blank"> 7 Rex Street, Eastern Heights</a> fetched $230,000.
<img src="/images/2016/08/29/700_rex.jpg" alt="">
The three bedroom house sold pre-auction.
There were 82 auctions held in Adelaide, compared to 97 last week and 102 at the same time last year. The preliminary clearance rate for the city this week was 68 percent, up from 62 percent last week and 58 percent one year ago.
"Adelaide’s preliminary clearance has remained above the 60 percent mark since the final week of July," Kevin Brogan said.
Adelaide prices ranged from $320,000 at Banksia Park to $980,000 at Colonial Light Gardens.
Perth’s preliminary clearance rate was 21 percent this week, compared to 20 percent last week and 45 percent one year ago.
Corelogic has 52 auction results for Canberra, with a preliminary clearance rate of 75 percent, higher than the 66 percent clearance rate last week. At the same time last year Canberra recorded a clearance rate of 69 percent
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Winter auction success rates finish on a high

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<img src="https://counter.theconversation.edu.au/content/64233/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
A new report, commissioned by the Australian Automobile Association and compiled by SGS Economics and Planning, has estimated transport costs for a typical household in Australia’s capital cities.
The calculations factored in public transport spending and car costs such as registration, fuel, insurance and tolls.
In a media release accompanying the report, the Australian Automobile Association said that “the average Australian family is spending up to $22,000 every year to get around.”
Is that accurate?
<h2>Checking the source</h2>
The Conversation asked SGS Economics and Planning and the Australian Automobile Association to clarify several aspects of their calculations. You can read their full response here.
The SGS Economics and Planning full report explains in detail the assumptions that underpin their snapshot of transport costs for a typical household in Australia’s capital cities.
Their hypothetical household in each capital city featured a couple in their 30s with children. The adults were employed, lived in a detached house and had two cars, which were driven 15,000 and 10,000 kilometres per year. The car that drives 10,000 kilometres per year is assumed to be ten years old and owned outright. The car that drives 15,000 kilometres per year is assumed to be less than three years old, purchased new and financed with a car loan. In addition, one member of the household is assumed to travel by public transport into the CBD and home again, five days a week.
In each city, the hypothetical household is assumed to live in middle to outer ring suburbs, with a relatively high population density, good access to public transport, and – in the case of the Sydney, Melbourne and Brisbane householders – use toll roads to access the CBD.
These assumptions and estimates contained in the report appear valid to me. Overall, the report seems to be a reasonable attempt to deconstruct transportation costs. Assumptions about both cars being used for more than 10,000 kilometres per year while one person commutes daily via public transport could be questioned, but this would only make a difference at the margins.
<h2>Report finds national average annual transport cost is closer to $17,000</h2>
The Australian Automobile Association said the report “reveals the average Australian family is spending up to $22,000 every year to get around” – but the key phrase there is up to.
The authors of the report looked at two consecutive quarters of transport data – Q1 of 2016 (quarter one, January to March) and Q2 of 2016 (quarter two, April to June). The report found that:
Annualised figures reveal a total transport cost for Q2 of $21,791 in Sydney, while the annual cost for Hobart is $7,691 less, at $14,100.
So the figure of $22,000 relates to Sydney, not the national average. The higher costs in Sydney relate to tolls, registration and compulsory third party insurance, the report said.
In fact, the researchers estimated that the national average transport cost for the second quarter of 2016 is around $323.36 a week, or an annual national average of $16,814.72, as shown in this table from the report:
<h4><a href="/images/2016/08/29/image-20160822-30370-cazbbd.png" target="_blank">Click to enlarge</a></h4>
<img src="/images/2016/08/29/image-20160822-30370-cazbbd.png" alt="">
 
Household total weekly transport costs, Transport Affordability Index: August 2016. Transport Affordability Index: August 2016, SGS Economics and Planning.
So the Australian Automobile Association’s assertion that the report reveals the average Australian family is spending up to $22,000 every year to get around is correct – but just remember that’s the upper end of the estimates range detailed in the report, as this chart shows:
<h4><a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/134905/area14mp/image-20160822-30403-176wdv4.png" style="font-size: 1em;"></a></h4>
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<img src="/images/2016/08/29/image-20160822-30403-176wdv4.png" alt="">
<h4>
Household total weekly transport costs SGS Economics and Planning 
</h4>
The report found that the national average annual spend on transport is closer to $16,814 or $17,000 if you round up.
<h2>Checking the numbers against other sources</h2>
The report’s estimate of roughly $17,000 in annual household transport costs for the national average is higher than transport cost estimates produced by the Australian Bureau of Statistics.
But it’s not uncommon for different economic models to produce different results – it all depends on what assumptions you factor into the modelling.
The last Household Expenditure Survey, conducted by the Australian Bureau of Statistics in 2009-2010, indicated that Australians spent an average of $193 per week on transport expenses. After adjusting for inflation, that is the equivalent of $221 per week in 2016, or $11,531 per year.
Included in the ABS survey’s definition of transport costs is motor vehicle purchase, fuel, registration, insurance, parts, public transport fares and several other expenses.
In their response to The Conversation, SGS Economics and Planning said the discrepancy was partly because the ABS' Household Expenditure Survey:
"includes figures on transport costs from a range of households, from couple families with kids in the outer suburbs to inner-city singles who rarely drive to regional pensioners… We chose to focus on couple families with children and the costs they are likely to face as they are the most common family type in Australia… Couples with children are likely to have higher transport costs than other family types such as singles, single parents or couples without children, as they are larger and more likely to be working."
You can read more of their response <a href="https://theconversation.com/full-response-from-sgs-economics-and-planning-64308" target="_blank">here</a>.
The ABS data treats the major part of a car purchase as an asset (i.e. is not included in expenses related to travel), so if you treat household motor vehicles as a cost rather than an asset you can get a number that approaches the annual figure in the recent SGS Economics and Planning report.
The report assumes regular toll road usage in the capital cities, which, of course, doesn’t apply to all of us. And it also makes the debatable assumption that one member of the household uses public transport regularly while another member uses toll roads with similar regularity.
Naturally, the biggest contributor to overall costs may be how expensive your car or cars are (and, thus, any associated repayments), the level of which is largely at the discretion of the household.
<h2>Verdict</h2>
Overall, the SGS Economics and Planning report appears to be a reasonable attempt to deconstruct transportation costs, but is specific to a particular type of household within each city rather than all households who travel.
The Australian Automobile Association’s statement that the report “reveals the average Australian family is spending up to $22,000 every year to get around” is technically accurate, thanks to the inclusion of the qualifier “up to”.
However, it is worth noting that the $22,000 figure (which applies to a typical Sydney family) represents the highest end of the range of estimates contained in the report.
The report found that the national average annual spend on transport is closer to around $17,000, which is higher than transport cost estimates produced by the ABS in the past. 
Review
I agree with this FactCheck and its conclusion.
The really important missing cost is the time lost to travel, especially when it is over one hour per day. Marchetti’s constant, a concept based on the research of Italian physicist Cesare Marchetti, posits that anything more than an hour of travel time per day is problematic.
It would be interesting to compare options than the hypothetical “average Australian household” example given in the report. For example, both the dollar costs and time costs in Australia could be reduced by having one fewer car for the average family, and living in a location that allows that option to become viable.
My own research suggests that many cities around the world are increasingly opting for greater investment in public transport and higher density urban redevelopment, rather than building housing on the fringes of cities where houses cost less but transport costs are huge. – Peter Newman
Matthew Beck is senior lecturer in Infrastructure Management, University of Sydney an author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/matthew-beck-90705" target="_blank">here</a>.
 
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Does the average Australian family spend up to $22,000 every year on transport?

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<img src="https://counter.theconversation.edu.au/content/64367/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
A new study shows two million Australians are experiencing high financial stress which prevents them from coping in difficult situations, for example, in paying unexpected expenses such as a big mobile phone bill or the fridge breaking down.
Adults face these sorts of scenarios frequently. When they arise, people usually turn to savings, a credit card, or a friend or family member to help out.
Our report, Financial Resilience in Australia, funded by the National Australia Bank, quantifies the amount of Australians: experiencing problems paying debts; meeting the costs of living; and accessing appropriate, affordable and acceptable financial products and services.
It also shows some Australians have trouble accessing social support in times of crisis and may have low levels of financial knowledge.
Our research measured financial resilience by the four key resources that support it: personal economic resources (such as savings), financial products and services (such as insurance), financial knowledge and behaviour (including financial literacy), and social capital (having social support in times of crisis, including friends and families).
Many Australians simply don’t have the resources to bounce back. For example, around:
<ul>
<li>One in two adults have limited to no savings</li>
<li>One in two only have a “basic understanding” of financial products and services</li>
<li>One in ten have unmet need for credit and/or insurance</li>
<li>One in five have limited or no social connections</li>
<li>One in 30 stated they needed but did not have access to any form of government or community support.</li>
</ul>
This has implications for the short and long-term impact on individuals and their families.
<h2>Who is most at risk?</h2>
Our research found secure housing, steady income, education, being employed and good mental health are strongly associated with financial resilience.
On average, financial resilience is significantly lower among people who are homeless, living in social housing, are short-term renters or live in student accommodation.
Financial resilience increases with the level of education and, unsurprisingly, people with very low personal incomes fare poorly.
Employment status is a key marker. People who are unemployed, underemployed, not in the labour force and those who only work odd jobs are more likely than their full-time employed counterparts to have lower levels of financial resilience.
People with a serious mental illness are significantly more likely to be in severe or high financial stress, are less likely to be financially secure and fare worse on each of the individual resource groups than people without mental illness.
The gender split in financial resilience is fairly even overall. However, the four components of financial resilience are influenced by gender. Women have lower general levels of economic resources than men, but men have lower levels of social capital than women.
People who were born overseas in a non-English speaking country have lower levels of resilience than those who were born in Australia. Finally, the influence of age on financial resilience varies and is often affected by other factors.
One in four study participants reported difficulties accessing financial services. The barriers are varied, but include cost, trust, poor and inadequate services, and (for a few) language, disability and discrimination.
This underscores the importance of making financial information, products and services more user-friendly and accessible. This will ensure these resources are available and accessible to everyone who needs and wants them in society.
The factors influencing financial security are not surprising. People who own their own homes, have a university-level education and have a personal yearly income of more than A$100,000, for example, have higher levels of financial resilience. However, only 35.7% of Australians are financially secure.
The prevailing attitude around financial problems is that individuals are solely responsible for their situation. Our research challenges this ideas as it shows multiple aspects to financial resilience, some out of the individual’s control.
The below shows how interlocked the different components of financial resilience are and when pieces of the puzzle are removed, the most vulnerable people are at risk.
<a href="/images/2016/08/29/image-20160826-11150-bc398a.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/29/image-20160826-11150-bc398a.jpg" alt="" width="754" height="407">
<h4>
The jigsaw of financial resilience. The Centre for Social Impact, Author provided
</h4>
At the moment social sector leaders are lobbying the government to scrap proposed budget cuts that will reduce the amount of certain welfare payments. Our research shows these same people have the least resilience to bounce back if they were to lose some financial support.
This is an example of how the government needs to play a more active role in understanding financial resilience and where support is needed. By understanding the often interrelated elements of financial resilience, tipping points and who is most at risk, prevention and intervention can be better tailored.
Rebecca Reeve is senior research fellow, Centre for Social Impact, UNSW Australia and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/rebecca-reeve-97205" target="_blank">here</a>.
Kirsty Muir is professor of Social Policy / Research Director, Centre for Social Impact, UNSW Australia and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/kristy-muir-158422" target="_blank">here</a>.
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Two million Aussies are experiencing high financial stress

A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

[smartcode_project_cta:default project_id=152125]

Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<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]

Jonathan Chancellor

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