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GUEST OBSERVER 
In July, China tier-1 property prices saw a further moderation in the pace of annual price growth; in tier-2 and tier-3, growth (again) inched higher, remaining at a much lower level than tier-1.
For new housing, 51 cities reported price gains in the month of July, down from 55 in June and a peak of 65 in April. But that is still well up on the number of cities reporting monthly gains a year ago (30 in July 2015). 16 cities reported monthly price declines, although that is also better than July 2015’s 29 cities.
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The secondary market has not seen as strong an improvement over the past year, a net 51 cities reporting monthly gains in July versus 41 a year ago and a peak of 54 four months ago (in March). 12 cities are currently experiencing price declines, compared to 17 a year ago. 
Splitting the 70 cities into the three development tiers, tier-1 continues to experience a robust pace of price growth, an average of 27.0 percent/yr for new housing and 29.3 percent/yr for the secondary market. Versus April’s peaks of 31.5%yr and 36.1%yr, that is still best characterised as a modest deceleration. 
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Within this tier, a normalisation is continuing: 
Shenzhen new property price growth has slowed from 62.5 percent/yr in April to (a still very strong) 40.9 percent/yr; meanwhile, Shanghai price growth has plateaued circa 28 percent/yr, as has Beijing and Guangzhou (albeit nearer 20 percent/yr). 
Similar trends are apparent in the established or secondary markets: Shenzhen slowing from 60.6 percent/yr in March to 33.9 percent/yr currently, and Beijing from 37.3 percent/yr in April to 32.1 percent/yr; Shanghai and Guangzhou price growth has been broadly unchanged in recent months, respectively 30 percent/yr and 20 percent/yr.
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Moving on to the less developed and wealthy tier-2 cities, new and established housing saw annual price growth of 7.8 percent/yr and 6.7 percent/yr in July. Both markets still remain in an uptrend, albeit a very modest one. 
This is even more the case in tier-3, where new and secondary house prices have risen just 3.8 percent/yr and 2.4 percent/yr over the past year. 
Clearly activity is concentrated in the most established and wealthy markets, where there is likely to be a greater speculative element. The problem is that these are not the cities with the greatest growth potential. 
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Further on aggregate activity, we note finally that momentum in housing sales and starts has already turned down. 
The outlook for real estate investment in late-2016 and into 2017 is fragile and unlikely to provide a significant contribution to aggregate growth.
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<div class="section">Elliot Clarke is senior economist, Westpac and can be contacted <a href="https://www.westpac.com.au" target="_blank">here</a>.</div>
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jchancellor-FAypfDUnLy

China property update: Westpac's Elliot Clarke

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A senior Queensland academic has told the Australian Financial Review that inner Brisbane apartment prices could fall as much as 25 percent over the next 12 to 18 months.
Chris Eves, professor of property economics at the Queensland University of Technology, said overseas buyers who had purchased off-the-plan in the past six or seven months might not be able to settle final payments now that China has introduced measures to stem capital flow.
"Developers will have to put these apartments on the market and with the lack of demand they will have to discount their prices. Some developers will go out of business – this always happens in oversupply situations," said Professor Eves who first warned of oversupply in March last year.
He advised estate agents were telling him prices and rents were already falling.
Adding further pressure on foreign buyers, he said, would be the new 3 percent stamp duty surcharge which kicks off in Queensland on October 1.
"Brisbane developers have gone overboard with amount of stock in the pipeline and thinking the offshore demand would just continue," he said.
{mijopolls 145}
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Can inner Brisbane apartment prices fall by 25 percent? 

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<img src="https://counter.theconversation.edu.au/content/64052/count.gif" alt="The Conversation" width="1" height="1"> GUEST OBSERVER
Energy upgrades in Australia’s buildings could deliver a quarter of Australia’s 2030 emissions reduction target. Improving energy performance through improved building design, heating and cooling systems, lighting and other equipment and appliances could also deliver more than half of our National Energy Productivity Target.
Progress has been slow, however, and our research shows that delay leads to lost opportunities and billions in wasted energy costs.
The new federal environment and energy minister, Josh Frydenberg, has an opportunity here to demonstrate the potential of his new merged role. Today in Canberra, Australia’s energy ministers are meeting for the first time since the election through the COAG Energy Council.
One item on the agenda will be the National Energy Productivity Plan (NEPP). It aims to improve energy productivity 40% by 2030. This involves increasing the economic value produced from each unit of energy consumed.
The NEPP contains a number of good measures relating to buildings. However, without stronger governance arrangements, more transparency and stronger and clearer public communication and engagement, there is a risk that these policy measures will simply slip between the cracks of multiple agencies, portfolios and jurisdictions in the building sector.
<h2>What can better buildings achieve?</h2>
Our research found buildings could help meet our climate and energy goals, as you can see in the charts below.
We found that improving energy efficiency in buildings could deliver 10% of our emissions target. Distributed energy (primarily rooftop solar) could achieve an extra 18 percent.
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Potential contribution of built environment opportunities to 2030 national emissions target (MtCO2e) ClimateWorks Australia, May 2016
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The energy efficiency improvements could reduce energy use by 202 petajoules, or half of what would be needed to achieve the energy productivity target.
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Potential contribution of built environment energy efficiency opportunities to 2030 National Energy Productivity Target (PJ)ClimateWorks Australia, May 2016
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<h2>The cost of delay</h2>
Despite the massive opportunity to reduce emissions from the building sector, overall progress to date has been slow.
Market leaders, particularly in the commercial office market, have achieved a radical change in their energy productivity and are recognised as global leaders in sustainable buildings. There are many examples of very high-performing or net-zero-emission buildings around Australia.
However, the market as a whole has improved its energy performance only 2% over the past decade for commercial buildings, and 5% for residential buildings. We are not currently on track.
Our report found that continuing to delay action to reduce emissions from buildings means we would lose a substantial amount of cost-effective options to improve energy performance. Many emissions reduction opportunities exist only for a certain period of time. For example, installing inefficient equipment instead of more efficient options effectively locks in excessive emissions for many decades into the future.
Just five years of delay could lead to A$24 billion in wasted energy costs and more than 170 million tonnes of lost emissions reductions by 2050. This is a very substantial loss, considering the current national emissions target aims to reduce emissions by 272 million tonnes by 2030.
Without additional action buildings would eventually consume more than half of Australia’s “carbon budget” by 2050. That would leave less than half for all other sectors of the economy, including emissions-intensive industries, transport, land and agriculture.
<h4><a href="/images/2016/08/19/image-20160817-3569-1mhmozw.png" target="_blank">Click to enlarge</a></h4>
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Cost of delay (MtCO2e) ClimateWorks Australia, May 2016
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<h2>Stronger policy</h2>
To realise the emissions reduction potential in the building sector, strong policy will be required to tackle the barriers to better energy performance for buildings. Our report recommended five key solutions as part of an integrated policy suite.
First, develop a national plan to co-ordinate policy and emissions-reductions measures to extend gains made by market leaders across the entire building sector.
Second, introduce mandatory minimum standards for buildings, equipment and appliances aligned with the long-term goal of net zero emissions.
Third, develop incentives and programs to motivate and support higher energy performance in the short to medium term.
Fourth, reform the energy market to ensure it supports cost-effective energy efficiency and distributed energy.
Finally, we need a range of supporting data, information, training and education measures to enable informed consumer choice and support innovation, commercialisation and deployment of new technologies and business models.
Implementing these policy measures would set Australia on a pathway to zero-carbon buildings and unlock the large potential for buildings to deliver improved health outcomes and more liveable and productive cities.
<h2>Unblocking barriers</h2>
Unfortunately, the opportunity to reduce emissions from buildings is blocked by strong barriers that require co-ordination between the Commonwealth, states and territories.
To address the complexity of this task, the NEPP needs stronger governance arrangements, including a specified target or targets for buildings, to complement the overall 40% NEPP target, and more regular public reporting (there is no public review until 2020).
Stronger and clearer communication and engagement around the target and buildings’ energy performance within it would also help provide confidence and drive innovation and activity among households and businesses.
In addition, we need better co-ordination between the members of the Energy Council, and between the council and other government forums and agencies.
For example, the National Construction Code, which regulates minimum standards for new buildings and major refurbishments, is a critical policy lever. However, the code is overseen by the Building Ministers Forum, not the Energy Council, while a range of different state and territory bodies oversee enforcement of the standards.
There are similar issues around harmonising of different energy performance ratings across jurisdictions, co-ordinating training and accreditation of professionals throughout the building design and construction sector, and energy market reform to establish a level playing field for energy efficiency and decentralised renewable energy.
Co-ordination of these issues should be a major focus for the Energy Council. The new minister for environment and energy – as the minister responsible for delivering on both our national emissions reduction targets and on the productivity plan – is now in a unique position to lead these efforts. We encourage the COAG Energy Council to support him in this.
Eli Court is implementation manager, Climateworks Australia, Monash University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/eli-court-181595" target="_blank">here</a>.
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Remove barriers to better buildings: a task for Australia's energy ministers

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The number of properties listed for sale in Toowoomba is rising and with slowing sales activity, there may need to be some adjustment in asking prices to attract buyers, according to the valuation firm, Herron Todd White.
It anticipates the key drivers of the Toowoomba market moving forward will continue to be local owner-occupiers and local investors. 
The valuation firm's August update says Toowoomba, the major regional centre servicing Queensland agricultural sectors, had become a target for interstate investors who found the affordability and position as the gateway to the Surat Basin attractive.
"During this period and in conjunction with development of the privately funded Brisbane West Wellcamp Airport, sales activity increased with the strong influence of interstate investors driving up values, particularly in the sub-$500,000 price bracket.
"To capitalise on this demand, developers saw opportunity to develop units and townhouses which are popular amongst the investor market.
"As the market now cools, there is an emerging oversupply of new or modern units, particularly across new estates in Glenvale.
"The rental vacancy trend has stabilised, although this may be in line with seasonal movements.
"Sitting at 3.5 percent, the vacancy rate had crept up to as high as 4 percent during late 2015 and early 2016."
This follows many years of consistently low vacancies around the 1.4 percent to 1.8 percent.
HTW said the dwelling sales activity has slowed in 2016 and this follows slowing activity since the recent peak in 2013.
The development of the Toowoomba second Range Crossing Road and new industries such as a large milk powder processing facility supplying directly to China may provide some short to medium term growth opportunities for the region. 
Toowoomba has not been subject to volatile property market movements, according to the valuation firm, Herron Todd White, given the relatively stable workforce underpinned by large government employers including numerous schools, the University of Southern Queensland, three large hospitals and the Oakey and Cabarlah Army bases.
The coal seam gas and energy resources boom between 2010 and 2014 in the Surat Basin to the west created significant hype in the Toowoomba region.
Estate agent John McGrath recently described Toowoomba as a "hotspot."
 
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Toowoomba residential property is cooling: Herron Todd White

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GUEST OBSERVER
It is regrettable that an unfortunate minority was giving the industry a ‘bad name’ and misleading consumers by purporting to be buyer’s agents.
I warned home buyers and investors not to be lured by slick advertising promising deals that were too good to be true.
We always get concerned whenever we see mention of anyone advertising ‘free buyer’s agent services’.
Red flags instantly start waving when words like “the seller pays the fee not the buyer” and “we will find your perfect investment property for free” appear on websites.
Ultimately property advisors will act for whoever is paying their fee.
Calling yourself an independent “buyer’s agent” while selling property is simply dressing up the wolf in sheep’s clothing.
True buyer’s agents have a fiduciary duty by law to act in the best interests of their clients and this is legislated in each individual state’s real estate law.
Buyer’s agents are licensed professionals who specialise in searching, locating, evaluating and negotiating the purchase of property on behalf of buyers. They do not sell real estate. They are engaged independently and paid for by the buyer to act on their behalf.
REBAA is Australia’s largest independent alliance of buyer’s agents who act on behalf of buyers in property transactions.
The association’s accredited buyer’s agent logo is synonymous with professionalism and best practice and its members are committed to stringent ethical standards.
Each REBAA accredited agency must also carry professional indemnity insurance. REBAA accredited agencies across Australia display their accredited agency logos on their websites to help buyers clearly identify bonafide buyer’s agents.
As a buyer you always need to ask if there is a vested interest in anything. Why are they wanting to act for you for free?
Usually it’s because they want to buy developer stock or take their fee from the vendor – hardly exclusive or independent advice.
Essentially, these “free buyers agents” are selling agents in disguise.
They have a huge financial incentive to help you buy that property and that’s not necessarily in the investor’s best interest.
Consumers should carefully check the credentials of any buyer’s agent and confirm they are firstly licensed and ask questions about their experience, time in industry, research methods, and how they are paid.
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For a list of accredited agencies in your local area <a href="https://www.rebaa.com.au" target="_blank">click here</a>. 
Rich Harvey is REBAA president and can be contacted <a href="https://www.rebaa.com.au" target="_blank">here</a>.
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Buyer beware 'free' buyer's agents: Rich Harvey

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The 2015 sale of the Hunters Hill trophy home of Cate Blanchett and her husband Andrew Upton has collapsed. 
The buyer, understood to live in Point Piper, claims problems getting their funds out of China, highlighting an emerging issue for Australian prestige property owners.
The historic residence, Bulwarra sold for $19.8 million last August on delayed settlement terms, just three weeks after hitting the market.
The celebrity couple, wanting to avoid a circus agreed to further time extensions, having since bought in the United Kingdom.
Their redundant 3642-square-metre North Parade estate has been relisted by Ken Jacobs of Christie’s International who will be seeking $20 million, no doubt calling those who missed out.
After returning to Sydney to perform in the Sydney Theatre Company's production of Hedda Gabler, Blanchett, often with her writer husband, Andrew Upton, began looking for their new Sydney house in 2004. After being bombarded with inquiries from pesky estate agents, the couple took the decision to sign up buyer's agency adviser, Deborah West.
Blanchett and Upton purchased the property on nine month delayed settlement terms for $10 million in 2005 from veteran merchant banker Jim Dominguez and his wife Suzanne, and subsequently spent more than $8 million on a three-year redesign by architects Nadine Alwill and Stephen Lesiuk .
The sales' contract collapse matter could be headed for the courts depending on the resale price now secured. Deborah West got huge billing as the agent to the stars after last August's sale.
“High profile clients come to us to escape the circus that is the Sydney property market," she then advised.
"They want confidentiality, discretion and privacy,” said West.
A home sales contract to an offshore Chinese buyer is no guarantee of yielding a settlement, as Property Observer has previously written when the on-off issue of getting funds out of China arose. 
The size of the Cate Blanchett deposit is not known.
The Oscar winner and her husband bought a high-rise bolthole in The Astor on Macquarie Street as their intended Sydney base.
The price is undisclosed however Yellow Brick Road and Celebrity Apprentice boss Mark Bouris wanted $8 million for the apartment.
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Cate Blanchett's $20 million buyer opts out of the Hunters Hill purchase

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The Reserve Bank governor Glenn Stevens is confident Australia’s banks would survive a large fall in house prices.
Mr Stevens told the The Australian and The Wall Street Journal that whether a property price fall was damaging depended on how much debt was behind it.
“You care, of course, whether asset prices seem divorced from their fundamentals. That’s often in the eye of the beholder,’’ he said.
“But the thing you most care about is, ‘is there a lot of borrowed money behind the assets’. “(With) housing, the debt being carried there is pretty significant now, but I don’t think we’re seeing another massive step up in leverage at the moment, and, as you know, we’ve been watching that fairly carefully. Every attempt to stress-test housing portfolios that I’m aware of ... none of those show a very bad outcome for the system.
“Now, some losses get incurred, but by and large the system manages with that OK.
“We wouldn’t have major institutions getting even close to failure. Not even close.
“They’d wear some losses and they’d have to, again, strengthen balance sheets at some point, but you wouldn’t have a systemic event,’’ he said. “Whatever you thought the risks posed to financial stability and macroeconomic stability might’ve been from the housing sector a year ago, they’ve probably diminished a bit since then,’’ Mr Stevens said.
 
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Banks would survive large house price fall: Glenn Stevens

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Toowoomba, located 125km west of Brisbane, has been pinpointed by estate agent John McGrath as one of the most exciting emerging regional centres in Australia. 
"Right now, Toowoomba has all the hallmarks for growth.
"We believe its strong focus and investment in infrastructure, retail and lifestyle precincts will have an impact on both interstate migration and employment opportunities in the short, medium and long term."
McGrath's forecast comes as several multi-million dollar projects are either underway or being planned, namely the $1.6 billion Second Range Crossing, the development of the 550 hectare Wellcamp Airport Business Park; the $500 million redevelopment of Grand Central shopping centre and the transformation of the railway precinct into an urban village and parklands.
He told his Switzer blog readers that the key indicators of a hot spot are beneficial new infrastructure, redevelopment of retail centres and more lifestyle amenities.
"Toowoomba has them all," he said adding the median house price is just $362,000 (CoreLogic).
"This affordable price point is not only attractive to the locals, it’s also attractive to tree changers, downsizers and investors.'
The median house rent is $305 per week (realestate.com.au) – a respectable yield of 4.4%.
The McGrath Toowoomba agent Toby Sandell advised that Toowoomba was at "the best point" in the cycle for buying for long-term capital growth now.
“Our local market has been subdued for the past year since the banks tightened investment lending.
"As a result, we’ve seen very few investors in the marketplace, a decline in sales volumes of 33% (APM) and the region’s average days on market has increased to 67 days (REA),” Sandell says. 
“While there’s fewer investors, the flipside is we’ve seen more first home buyers and upgraders taking advantage of affordable buying and lower interest rates. There is good demand from locals for quality properties in the right areas.
“Interestingly, the median house price rose by 1% over the year despite these tougher conditions.
"The fact that the price is holding and even increasing slightly is a sign of Toowoomba’s resilience and strength.
"One reason for this is strong and stable employment with the state’s lowest unemployment figures.
“In the lead-up to Spring, we are just starting to see a few more positive signs with a bit more buyer enquiry and a few more investors from Sydney and Melbourne returning to look for well-priced homes.
“Stock is tight but we have been busy doing more appraisals for the past four-six weeks so we’re expecting that stock shortage to ease. We are currently marketing a number of high-end properties which have all attracted good numbers at opens.” 
McGrath looked at specific projects.
Brisbane West Wellcamp Airport
The airport is having a positive effect on the accessibility of the region both domestically and into Asian markets. It is continuing to expand, with direct passenger flights to Melbourne and Cairns commencing in March. Several agri-based companies are setting up in the surrounding Business Park in order to take their produce directly to Asia. One of these is a baby milk formula factory – the first in Queensland, which will export directly to China.
Second Range Crossing
This new 41km road is important because it will take trucks off city streets, creating a better community amenity, while also enabling a faster trip for freight services. It will create 1,800 full-time jobs. Major construction is underway, with the peak phase expected around mid-2017, so as more workers move in during summer and into 2017, we expect to see weekly rents rise as well.
Grand Central redevelopment
Stage 1 of this massive new shopping centre should be open for Christmas retailing. The redevelopment will include a new dining precinct, department stores, supermarkets and almost 160 other stores.
Railway Parklands Precinct redevelopment
This 50 hectare site will incorporate a central park, shops, commercial and industrial facilities and residential options. The council estimates it will provide up to 3,300 jobs during construction and a further 1,800 jobs in retail and service industries. The developer is currently working with council to finalise the plans.
Super-Hot Spots within a Hot Spot
McGrath advised every city has its super-hot spots.
"Right now, most of Toowoomba presents great buying," he said.
South Toowoomba and Centenary Heights
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Hot price bracket: $350k-$500k</li>
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Buyer demographic: Young families wanting value for money and close proximity to the CBD</li>
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Property Observer went looking at recent sales and listings.
A three bedroom, one bathroom home in South Toowoomba sold yesterday for $390,000. The property at <a href="https://www.realestate.com.au/property-house-qld-south+toowoomba-122505078" target="_blank">209 Geddes Street</a> (below) last traded for $104,063 in 2000.
<img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.03.49%20AM.png" alt="">
Another three bedroom, one bathroom home at <a href="https://www.realestate.com.au/property-house-qld-south+toowoomba-123207906">127 Perth Street</a> (below) has been listed with $395,000 hopes. The cottage on a generous 559 sqm parcel last traded for $259,000 in 2012.
<img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.04.48%20AM.png" alt="">
East Toowoomba and Rangeville
<ul>
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Hot price bracket: $500k-$800k</li>
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Buyer demographic: Premium suburbs for upgrading families, although stock is very tight</li>
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Priced at $799,000, <a href="https://www.realestate.com.au/property-house-qld-east+toowoomba-123143286" target="_blank">15 Fletcher Street</a> (below) in East Toowoomba comes with three bedrooms, three bathrooms and its own pool. The home last traded for $580,000 in 2010.
<img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.05.47%20AM.png" alt="">
A four bedroom, two bathroom home at <a href="https://www.realestate.com.au/property-house-qld-east+toowoomba-121578562" target="_blank">10 Anderson Street</a> (below) in East Toowoomba sold earlier this month for $696,000. It last traded for $124,000 in 1990.
<img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.06.50%20AM.png" alt="">
 
But other commentary has emerged this month. The number of properties listed for sale in Toowoomba is rising and with slowing sales activity, there may need to be some adjustment in asking prices to attract buyers, according to the valuation firm, Herron Todd White.
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Toowoomba's super hot spots: John McGrath's tips

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Paraway Pastoral has purchased the Inverell property, Newstead which is where the Australian artist Tom Roberts painted, The Golden Fleece Shearing at Newstead while staying at the farm then owned by the Anderson family in 1894. 
Travelling around eastern Australia, Roberts first came to Inverell in the summer of 1893, staying for five months at Newstead, the property of his friend Duncan Anderson, and later returned to the area several times.
To view the work, <a href="https://www.artgallery.nsw.gov.au/collection/works/648/" target="_blank">click here</a>.
Involving himself in the lifestyle of the northern NSW sheep property and of the Inverell township, he produced 13 of his most acclaimed paintings there.
Roberts's final visit to Inverell was in 1900; three years later, he left for England where he spent the next 16 years.
He returned to Australia in 1923 and died in 1931.
It was in 1857, the manager of Newstead wrote to Mary Anderson, the property's absent owner, that a new shearing shed was nearing completion, "62 feet by 18 feet with skillions on either side, large enough to hold from seven to eight hundred sheep".
Shearing at Newstead - better known as The Golden Fleece, and destined to become one of Australia's great iconic pictures - was painted there by Tom Roberts. In 1895 The Sydney Morning Herald named it "the great picture of the year" and the Art Gallery of NSW bought it for 275 guineas. It was shown around the world. Critic R.A.M. Stevenson's commenting on Shearing at Newstead when he saw it in London in 1898 that it was "tight, hard and inartistic". 
Roberts was a leading founder of the Heidelberg School, the group of late 19th-century painters who set out to develop a distinctly Australian style, responding to colour and light, and who became renowned for their blue-gold landscapes.
First settled by Europeans in 1841, Newstead is one of the oldest homesteads in the state's north. For most of its years, it was home to two family dynasties, including the ancestors of the former deputy prime minister, John Anderson.
In 2001 it became a religious retreat for a controversial American order, the Bruderhof Communities, before being sold in 2005 to the Sundown Pastoral Company.
The Paraway company has also purchase another Inverell property from Sundown Pastoral Company, Paradise. 
The Land says Paraway will use the properties, which are described by local agents as “signature properties”, to boost its cattle finishing capacity.
Newstead totals 4,848 hectares and consists of improved pastures for beef production as well as growing crops. Neighbouring property Paradise totals 6,500 ha.
Sundown was founded by Neil Statham in 1964 and is still owned and operated by the Statham family with Neil’s son David at the helm. 
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Tom Roberts' The Golden Fleece shearing farm, Newstead sold

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GUEST OBSERVER
A lot of Australian building codes don’t actually refer to the maximum number of people a building should fit.
That’s what researcher Agustin Chevez found when he started to delve into how a better office might look.
As the type of work we do changes, it becomes less about the tasks you do and more about your reactions to and relations with those you work with, Chevez says.
So you need to be able to tell how many people should ideally fit in a space, but that’s not all.
Offices also need to take into account what makes us human, and our varying personalities.
To hear the interview in full, <a href="https://theconversation.com/business-briefing-a-better-way-to-design-an-office-63875" target="_blank">click here</a>.
Jenni Henderson is assistant editor, Business and Economy, The Conversation and can be contacted <a href="https://theconversation.com/au/team#jenni-henderson" target="_blank">here</a>.
Agustin Chavez is adjunct research fellow, Centre For Design Innovation, Swinburne University of Technology and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/agustin-chevez-120649" target="_blank">here</a>.
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A better way to design an office

The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

Joel Robinson

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Abadeen has lodged a State Significant Development Application (SSDA) for one of Mosman's largest apartment developments in recent years, seeking approval to transform the former Honeysuckle Garden and Midas site on Military Road into a 100-apartment mixed-use development.

The SSDA, lodged with investment partner Phoenix Property Investors, proposes around $230 million worth of new housing on the prominent <a href="https://www.apartments.com.au/new-apartments/494-516-military-road-mosman-nsw-2088">494-516 Military Road</a> site.

The proposal comes as Mosman Council continues to progress its recently endorsed Masterplan, which identifies the precinct for increased housing density while maintaining the suburb's established character.

Designed by DKO Architecture, the development would comprise 100 apartments above ground-floor retail, with a rooftop wellness precinct including a gym, sauna, entertaining areas and landscaped communal spaces.

Rather than pushing to the full 12-storey height identified in Council's Masterplan, the proposal ranges between five and nine storeys, stepping down towards Hale Road. A tenth level would accommodate resident amenities rather than additional apartments.

The project has been designed to appeal to a broad range of buyers, from first home buyers and young professionals through to families and local downsizers looking to remain on the Lower North Shore.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="5dada03f-5b4c-43ba-ba62-2868add31440" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.57.55%E2%80%AFAM.png?VersionId=7LBy0B.Jo8_iWAFJsClcV7Q3UnXrv49r" />

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock.

"The apartments have been designed as genuine long-term homes, with efficient floorplans that maximise usable living areas, generous storage, natural light and strong connections between indoor and outdoor spaces," Brown says."

"We've focused on creating homes for a broad range of buyers, from first home buyers and growing families through to downsizers who want to remain in Mosman."

The rooftop wellness offering forms a key part of the proposal, with residents set to have access to a gym, sauna, outdoor entertaining spaces, communal dining areas, landscaped gardens and a multi-use recreation court overlooking Sydney Harbour.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="d37c2d6b-583a-4a0f-b7a9-9f46b893d2f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.58.06%E2%80%AFAM.png?VersionId=FPoa5FCm2RtzjhAh2w5FTWJbV6GHfY8D" />

DKO drew heavily on the site's natural and cultural history, undertaking a Connecting with Country process with local Aboriginal Elders to inform the architectural and landscape design.

Senior Associate Matthew Ritchard said the design sought to create a building that responded to both the site's landscape and its cultural significance.

"The architectural language of the project is a deep expression of Connecting with Country, where the materiality and colour palette serve as a bridge between the site's geological history and its future as a residential sanctuary."

The proposal also retains the site's established blue gum tree as the centrepiece of the communal landscaped gardens, while introducing activated retail fronting Military Road to strengthen the connection between Mosman and Cremorne villages.

If approved, the project would deliver 100 new homes within walking distance of shops, public transport, schools and local amenities, adding to the limited pipeline of new apartments on the Lower North Shore.

<h2>Project Snapshot</h2>

Project: Honeysuckle Garden Redevelopment

Address: 494-516 Military Road, Mosman

Developer: Abadeen and Phoenix Property Investors

Architect: DKO Architecture

Lead Architect: Matthew Ritchard

Value: $230 million

Residences: 100 apartments

Key features:

<ul>
	<li>
	Ground-floor retail
	</li>
	<li>
	Rooftop wellness precinct
	</li>
	<li>
	Gym and sauna
	</li>
	<li>
	Outdoor entertaining and BBQ areas
	</li>
	<li>
	Landscaped communal gardens
	</li>
	<li>
	Multi-use recreation court
	</li>
	<li>
	Retained mature blue gum tree
	</li>
	<li>
	Connecting with Country design process
	</li>
	<li>
	Harbour, CBD and Balmoral views from upper-level apartments
	</li>
</ul>

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock

First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman

The wave of apartment proposals sweeping through Mosman shows no signs of slowing, with another major residential development lodged through the NSW Government's State Significant Development pathway.

Developer First Quadrant Properties, which recently completed Willoughby Grounds and has several projects in planning across the North Shore, has unveiled plans for <a href="https://www.apartments.com.au/new-apartments/cove-on-ourimbah-40-56-ourimbah-road-mosman-nsw-2088">Cove on Ourimbah</a>, a 63-apartment development on Ourimbah Road, adding to the growing pipeline of projects reshaping one of Sydney's most tightly held harbour suburbs.

The proposal would consolidate nine properties at 40-56 Ourimbah Road into a part eight, part nine-storey apartment building, continuing the momentum created by the NSW Government's accelerated planning pathways that have seen several significant developments emerge across Mosman over the past 12 months.

Designed by Doroch Architects, the project would deliver 63 apartments, resident wellness facilities including a gym, pool and sauna, landscaped communal spaces and basement parking, while using recessed upper levels, generous setbacks and extensive planting to reduce the perceived scale of the building.

<img alt="First look: First Quadrant Properties eyes nine-storey Mosman apartment project under State Significant pathway" data-entity-type="file" data-entity-uuid="32ee68e4-141e-4a10-8f83-48e961a5e71e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ourimbah%20Road%2C%20Mosman%20a.png?VersionId=CUeILFc6APlwXPc.iplElbxHvREKwjig" />

Doroch Architects said the building had been designed to reinforce Mosman's established character.

"The building's aesthetic is grounded in the existing residential character of Ourimbah Road and the broader Mosman context," the architect noted in the planning documents submitted to the NSW Government.

The design adopts a contemporary material palette of natural stone, textured concrete and brown concave metal cladding, complemented by integrated planters and deep balconies. The podium incorporates softened curved concrete forms, while increased setbacks have been provided adjacent to the heritage-listed property at 60 Ourimbah Road to create a more sympathetic transition.

The site sits around 330 metres from Mosman Town Centre, placing it within the NSW Government's Low and Mid-Rise Housing policy area, where increased residential density is being encouraged close to shops, transport and services.

The proposal follows a string of major apartment projects lodged or declared State Significant in Mosman in recent months, including Abadeen's 100-apartment Honeysuckle Garden redevelopment on Military Road and several other developments across Awaba Street, Redan Street and Muston Street from the likes of Time &amp; Place, HELM and Prosker Property.

&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Time &amp; Place to take on Mosman apartment market</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-abadeen-plans-100-apartments-on-former-honeysuckle-garden-site-in-mosman">First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman</a>

&nbsp;

First look: Another major apartment proposal signals Mosman's development boom

A new State Significant Development Application (SSDA) could reshape a prominent vacant site in Gosford's CBD, with Ming Tian Real Property proposing a mixed-use precinct that combines affordable housing, retail activation and a new public plaza.

The proposal for 43-45 Beane Street and 2 Keevers Lane would deliver a <a href="https://www.apartments.com.au/new-apartments/43-45-beane-street-gosford-nsw-2250">two-building development</a> comprising a 26-storey residential tower and a five-storey affordable housing building above ground-floor commercial space. A key focus of the project is the delivery of dedicated affordable housing alongside new public domain improvements designed to transform Keevers Lane into a more active urban destination.

Designed by <a href="https://www.apartments.com.au/architects/tony-owen-partners">Tony Owen Partners</a>, the development would provide 130 apartments, including 20 affordable housing dwellings managed by a registered community housing provider for at least 15 years. The market housing component comprises 110 apartments across a mix of one, two and three-bedroom residences, while the affordable housing includes six one-bedroom, 13 two-bedroom and one three-bedroom apartment. The proposal also incorporates 416 sqm of ground-floor retail, three basement levels accommodating 140 car spaces, 42 bicycle spaces, communal open space and extensive landscaping.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="9b858791-9060-4ee7-9178-44cb9e640a85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20b_0.png?VersionId=_jbY0mqPEs7.jBZxozR7d6T4u85FoPmb" />

The affordable housing component has been distributed across both buildings, with four apartments located within the main tower and a dedicated five-storey building delivering a further 16 affordable homes. The project also includes 12 adaptable apartments and 24 dwellings designed to Silver Level Liveable Housing Guidelines.

The architectural design draws inspiration from Indigenous storytelling.

"The design is based on the indigenous motif of the Rainbow Serpent," Tony Owen Partners said in the Design Verification Statement.

"The Rainbow Serpent is a traditional totem of coastal eastern Australia. It represents natural forces, creation, change, and rebirth and is often associated with bodies of water. This motif can be seen in the undulation of the balconies rising on the building," Tony Owen Partners said in the Design Verification Statement.

Beyond the residential offering, the proposal seeks to revitalise the surrounding public realm, particularly Keevers Lane.

"The ground floor streetscape includes a commercial and dining precinct which will significantly improve the amenity of the area. This strategy transforms a currently inhospitable laneway into a thriving centre of urban renewal and day and night time activation to compliment the new adjoining UNC facilities," the architects said.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="36b0ca6b-af15-424c-81db-9f3049c07b0c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20podium.png?VersionId=QCAv7bCitrg3zIGZUHI2z_HR8qVfKbp1" />

The Environmental Impact Statement notes that the project aims to "improve the provision of diverse housing options within Gosford City Centre, enhancing the mixed-use precinct by delivering high quality residential development, whilst concurrently providing a diverse range of housing choices through the provision of affordable housing, which is in growing need within the Gosford City Centre."

The site occupies approximately 2,070 sqm in the Gosford city centre, around 250 metres from Gosford Railway Station and within walking distance of Gosford Hospital, Mann Street's retail precinct and the University of Newcastle's Gosford campus currently under construction. The currently vacant site previously received approval for a lower-scale residential development, with the new proposal leveraging the NSW Government's in-fill affordable housing pathway to increase density while introducing dedicated affordable housing.

First look: Rainbow Serpent inspires bold new Gosford apartment tower

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]

Jonathan Chancellor

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