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The former Silverchair front man Daniel Johns joined with the other owners in his 1960s Bondi Beach apartment block hoping to ride the wave to property riches.
The seven apartments were offered in one line at auction last night, but the bidding went no higher than their $12 million vendor bid.
The Bondi Beach apartments that have beach views attracted two developer bidders when <a href="https://www.realestate.com.au/property-unitblock-nsw-bondi+beach-122859458" target="_blank">offered through Seaton Jones of Ray White TaylorJones.</a>
Johns owns two of the higher level apartments in the four level Campbell Parade complex having bought in 2001 costing $1.6 million.
He lived in the building for a short time before leasing the properties. He stands to secure around 33 percent of any eventual sale proceeds.
Spanning four levels, the entire block comes with six two-bedroom apartments and a one one-bedroom unit.
It was marketed as a duplex project or for the buyer to create their own home.
A group of 12 Queenscliff apartment neighbours triumphantly pocketed $10.1 million for their virtually uninhabitable clifftop apartment complex last month.
A private northern beaches builder bought the Queenscliff site, beating interstate investors and a Chinese group.
Auctioneer Damien Cooley noted there's an emerging trend across Sydney where neighbours - more so houses than apartments - are banding together to sell their homes in single amalgamated deals to developers.
It has been happening especially in response to government infrastructure programs on established or proposed public transport routes.
Estate agent John McGrath recently suggested "the ‘mega lot’ trend was a fantastic example of people power and creatively leveraging market conditions to your benefit."
"Some home owners are motivated by the financial windfall that comes with selling to a developer."
In St Leonards, nine home owners sold to a Hong Kong developer for about $66 million, netting an average of $7.3 million per vendor, he said.
McGrath suggested that caution was needed.
"You’ll need an iron-clad agreement with your fellow sellers stipulating the terms of the sale (especially settlement periods and whether the sale relies on official re-zoning before exchange), the division of sale proceeds and a commitment from everyone to proceed."
This article was first published in the Daily Telegraph.
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jchancellor-FAypfDUnLy

Daniel Johns' Bondi Beach auction result

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVERS
Are humans now an “urban species”? Do we now live in an “Urban Age”? To understand the contemporary human condition, should we all learn to “see like a city”, or even think like a smart city?
Whether the focus is on governance, climate change, infrastructure, citizenship, public space or terrorism, the turn towards the urban is unmistakable. It seems inexorable, fuelled by human migrations, proliferating technological connections, global trade and policy shifts.
This was surely a long time coming; we moderns have always cultivated a sense of The City as human destiny. So have we arrived at our destiny, the urban age? Or is it merely a new stage in the human drama?
The executive director of UN Habitat, Joan Clos, recently said: "The unprecedented confluence of climate change, population boom and the rush to live in cities means that our critical human development will take place in cities."
Clos was announcing an initiative, the UN Sample of Cities, which “adopts cities as units of analysis and studies them together to discover patterns of similarities and differences”, furthering what is increasingly called “the science of cities”. Yet surely the “urban” has always been a synonym for complexity and surprise – can cities really be reduced to scientific certainty?
Although cities are increasingly used to organise research, policy and visions of the future, the fate of Homo urbanus is not clear-cut. New debates are emerging about the urban and its place in the world. Alongside utopian images of bright green cities and a luminescent urban planet, dystopian images of the urban are also emerging, continuing another of modernism’s aesthetic and literary traditions.
Whether one feels optimistic about urban futures or not, there is a sense that a primary task of our times is making cities work efficiently, sustainably and equitably. Paradoxically, this broad social feting of the city coincides with cracks appearing in the foundational concept of “the urban”.
<h2>No city is an island</h2>
In academic discussion at least, “the city” and “the urban” are increasingly under stress conceptually as well as empirically. How coherent and relevant are these categories in a world of blurred spatial and governance boundaries?
As we discuss in a recent virtual special issue of the journal Urban Studies, unease is growing among some scholars about how useful the urban is any more as a conceptual category. Holding onto the city lens too tightly may shut out complex human and natural realities.
This includes growing environmental interdependencies, which aren’t easily contained in traditional urban boundaries. Just think of the ever-growing “food miles” that define urban consumption in Western cities.
Dense connections between “humans” and “nature”, and “urban” and “rural” or “wild”, are arguably obscured in strong city-centric thinking, sidelined as something “out there”. But to accommodate growing evidence that cities are not inseparable from nature, traditional urban concepts are being stretched, pulled and twisted.
The recent Resilient Melbourne Strategy, for example, makes the crucial point that the city is nearly completely reliant on energy produced in the non-metropolitan region of the Latrobe Valley. But the landmark strategy, despite being admirably consultative, is still the product of only metropolitan councils.
While limiting the number of voices at the table is often a pragmatic necessity, it unavoidably imposes constraints of the sort that resilience-thinking itself tries to challenge.
If South Gippsland Shire Council were to be involved in the strategy, for instance, it may contest the recommended solution to Melbourne’s reliance on its region’s energy: “reduce this reliance” by diversifying energy sources.
Such diversification can be a very positive step, especially if it reduces fossil-fuel use and its intensification of the greatest inter-linker of all, climate change. But if such a strategy is pursued in a Melbourne-centric way, one that frames Gippsland as simply a replaceable, sub-optimal source of energy, that disregards the region’s vulnerability to such an urban bias.
So although “resilient cities” and “urban resilience” are increasingly well-known policy phrases, arguably the words strain at each other if a more-than-city perspective is not taken.
<h2>A new focus on processes rather than space</h2>
Urban studies scholars have been trying to rethink what the urban actually means in a world characterised by more and more cross-boundary relations, flows and churning processes of de-territorialisation and re-territorialisation.
In contrast to the growing use of “the city” and “the urban” as a self-evident policy lens, concern is growing that both categories are too static and bounded.
Philosopher Henri Lefebvre’s idea of “planetary urbanisation” is attracting renewed interest. Not without its critics, this idea emphasises urbanisation as a process, consisting of vast transboundary flows of capital, people, resources and waste that continually remake cities and – in the process – “rural”, “wild” and “global” spaces
One interpretation of this focus is that the urban is everywhere, a boundless idea expanding in our imagination as well as planet. These scholars push us to consider, for example, the ways in which the Alberta tar sands or mineral mining in the Andes might be considered “urban” phenomena, given how these extractive industries fuel the “cities”.
This interpretation of “the urban” as a “processual form”, not bounded space, challenges how we think about what makes “cities” sustainable. Are cycling lanes or allotment gardens enough to make urban life sustainable when the ecological footprint of “the city” is entangled with the planetary processes of environmental degradation?
Whether such conceptual or physical spread is a sign of “the urban’s” success or its vulnerabilities and near-demise is an open question. Both interpretations are hotly contested.
Overall, “the urban” is not a simple, self-evident, scientific concept. Rather, it is an increasingly contested, stressed idea. In a world in which we must deepen our awareness of cross-boundary interactions to achieve objectives such as enhanced resilience, we need to question as well as acknowledge our habitual city focus.
Lauren Rickards is senior Lecturer, Sustainability and Urban Planning, School of Global Urban and Social Studies; co-leader, Climate Change and Resilience Research Program, Centre for Urban Studies, RMIT University
Brendan Gleeson is director, Melbourne Sustainable Society Institute, University of Melbourne
Can O'Callaghan is lecturer in Geography, National University of Ireland Maynooth
Mark Boyle is director, National Institute of Regional and Spatial Analyses, and Professor of Human Geography, National University of Ireland Maynooth
All are authors for The Conversation and can be contacted <a href="https://theconversation.com/au" target="_blank">here</a>.
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‘The urban’: a concept under stress in an interconnected world

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GUEST OBSERVER
While the weekend’s election was tight, if nothing else, it’s clear that Labor needs to rethink some of their policies if they’re to win a majority government in the future. 
After a bruising loss in the 2013 federal election, when Kevin Rudd fell to Tony Abbott in a landslide defeat, the Labor party has made up significant ground on the Liberals – the weekend’s election is clear proof of this.
However, it would seem that Labor’s ability to regain support isn’t necessarily because the Australian voter base is highly attracted to its policies, but rather has come from the party’s so called “mediscare” campaign. 
This was evident in the final weeks of the election campaign, when Labor strategically switched its focus from promoting its own policies to a sustained attack on the Liberal party over claims that it wanted to privatise Medicare – a claim that the Liberal’s unequivocally denied. 
The tactic clearly worked, though, and as soon as the polls closed, Labor was immediately espousing that it had won the campaign, if not the election.
Nevertheless, if Labor wants to form a majority government in future elections it will have to seriously rethink some of their policies, because they’ve failed to convince many middle-class voters of their plan for Australia’s future. Even though they’ve already won more seats than the 2013 election, Labor’s primary vote is currently the second lowest on record.
Labor’s approach to negative gearing is a prime example of a policy they need to rethink.
Being one of the party’s key policies, and one that is distinctly at odds with the Liberal party, it’s clear Labor’s stance on the matter hasn’t been accepted by ordinary Australians.
If Labor hasn’t already got the message, then maybe the results from a recent survey will show exactly how out of touch their negative gearing policy is with the Australian public.                 
The Real Estate Institute of WA conducted a survey in the weeks leading up to the election.
Asked if negative gearing should be restricted to only newly-built properties, just 3 percent of respondents answered, yes.
That is a resounding rejection of Labor’s negative gearing policy, which if implemented will cause major disruption to Australia’s housing markets.
With more than 9 million houses in Australia owned by owner-occupiers and investors, this is a significant portion of the voter base that will be effected.
These voters would be very hesitant to back a Labor party with their current negative gearing policy for fear they’d see the value of their properties decline.
That’s not even taking into account the huge number of renters that would be negatively affected as well.
Given this, Labor will have to seriously rethink their stance on negative gearing, and other policies, if they’re to have any chance of forming a majority government in future elections.
Damian Collins is the founder and managing director of Momentum Wealth and can be contacted <a href="https://www.momentumwealth.com.au/damian-collins/" target="_blank">here</a>.
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Labor policy rethink needed to win majority government: Damian Collins

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
I have been analysing and forecasting economies since I worked in our Treasury in the late 1960s.
Over that time, I have fortunately been able to predict most of the key economic developments and events in the global and in our domestic economy – stagflation, recessions, stock and property market crashes, the Asian crisis, the tech-wreck, the global financial crisis (GFC), and so on. Yet it is much harder today to assess where to next than at anytime over that period.
Many of the economic relationships, that many have come to take for granted, seem to have broken down. To cite just one example, the view that if the world was flooded with liquidity, we’d not only stimulate significant real activity, but soon experience runaway inflation. Yet since the GFC, with massive “quantitative easing” (keeping interest rates low, mostly near zero, or even negative) in the US, Europe, Japan and recently China, there is still a significant risk of deflation, and the real economy, especially business investment, hasn’t really responded.
Europe is struggling to avoid a triple-dip recession with deflation, a risk now seriously enhanced with the Brexit vote. The US recovery seems to be faltering with the Federal Reserve threatening to raise interest rates, which could not only slow US growth, but precipitate further turmoil in emerging economies, in their stockmarkets and in their currencies.
Japan is still stuck in decades of rolling recessions and deflation. China’s growth is closer to 4-5 percent, much lower than the authorities would have us believe. It also has a host of structural issues – economic transition, demographic forces, aggregate debt, bad bank and non-bank loans, inequality, corruption and pollution – coming to the fore. And most emerging economies are in deep recession.
All these economic policy challenges are being overlaid, and further complicated, by mounting political and market volatility. This includes serious structural demographic trends like ageing and mass migration, a host of increasing geopolitical tensions, and the significant challenge of climate change to achieve net zero emissions by 2050.
All up, world growth forecasts by most global and regional forecasters are being downgraded consistently. It is clear that the world will have to live with lower growth for many years to come. Most commodity prices are predicted to remain subdued, and world trade will remain particularly weak, having collapsed by some 14% last year.
Moreover, global policy authorities have almost exhausted their traditional monetary and fiscal policy capacity and flexibility, and now must face enormous political and institutional constraints that are working against genuine structural reform. It also seems that polls and betting odds are no longer a reliable guide to the “feelings of the masses”.
Some of the political forces at work are also of particular concern. For example, the recent Brexit vote revealed just how easily sound economic arguments can be overtaken by fear and emotion, driven mostly by misrepresentation and exaggeration, ignorance, and prejudice.
The outcomes could include a disunited kingdom, a fragmentation of Europe (still the world’s second largest economy) putting the Euro under real strain, and a UK, if not global, recession. We have seen a significant, and most disturbing, increase in anti-immigration sentiment across Europe, manifesting in significant political movements.
Equally, the US political system has been turned on its head by the emergence of Donald Trump, running his anti-immigration, anti-China, anti-freer trade, anti-globalisation agendas.
These and many other political forces could easily serve to stall, if not work to reverse, the significant economic progress made globally since the second world war, by integrating the world economy with the freer flow of goods, capital and people.
In my experience, the world has not faced a more challenging time, with such limited policy alternatives and capacities, and with little or no historical experience on which to draw.
Australia has just endured one its longest and most boring election campaigns, with little more than a passing reference to some of these challenges, but certainly no genuine recognition of their significance to the policy challenges our governments now face domestically.
These global conditions and challenges are of such significance that it could so easily swamp anything that was said or promised by any of the parties in this campaign.
The need for inspired leadership in our country has rarely been greater. We saw no evidence of it in this campaign. The outcome will be more uncertainty, less stability, and even poorer government, at this most challenging time.
John Hewson is professor and chair, Tax and Transfer Policy Institute, Crawford School, Australian National University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-hewson-16192" target="_blank">here</a>.
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The world has not faced a more challenging economic time: John Hewson

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GUEST OBSERVER
Ever fancied a tree change or a sea change or any kind of change - where you set your sights a few hours away from the capital cities? It's an increasing phenomenon for both investors and home owners.
What makes regional properties so attractive to investors is how affordable they are. They boast a much better entry price than their city counterparts. As capital cities such as Sydney and Melbourne become more expensive in terms of both property and lifestyle we're seeing a small exodus of renters and lower income earners to regional centres such as Newcastle or Geelong.
As these areas boost their infrastructure and local economies, this in turn further encourages population expansion. It's not even just regional centres but also major towns. Certainly several experts have noticed the imminent expansion out to the country and regions driven in part by the sky rocketing prices of Sydney and Melbourne.
All of this means that well-chosen regional centres are an exciting proposition for the canny investor.
Buying in regional areas come with a whole new slate of potential risks you may not have thought of.
However, buying in regional areas come with a whole new slate of potential risks you may not have thought of. In cities you may have to contend with strict council planning permissions, aircraft noise or lack of parking. But property investors in rural or regional areas can possibly be up for anything from feral cats to flooding and fires and drought. Let's run through a few of the usual and unusual pitfalls to consider:
 
Flood Zones: With a rapidly shifting climate, flood areas themselves are changing across Australia. There are even parts of Sydney that are identified as flood zones. Other regional centres have a history of flooding - parts of the coastal plains on the South Coast, such as Thirroul - being notable examples. Then there can be once-in-a-lifetime, catastrophic floods, like the floods which swamped Brisbane and Queensland a few years ago.
Scour through the local government records and ask to see the flood zone map for your property. While the council has the responsibility for flood prevention, in certain circumstances the property owner does too. Flood insurance will also add to the cost of the property. 
 
Soil: It's critical to do soil tests for any property you buy in regional or rural areas. The type of soil that your property is situated on can incur extra costs for earthworks and land retention. Hire a professional engineer to carry out tests. They will look for things like contaminants, and if the property is on a large rock. All these things will affect the foundation the house is built on and also affect any plans to subdivide and add new buildings. 
Fire danger: This is part and parcel of the harsh landscape of Australia. Bush fires have become more menacing and frequentin recent times. So it’s crucial you check with the local council and ask to view the bushfire prone map. This will tell you how dangerous the area you're buying into is and how susceptible to fires. You'll need to consider insurance and there may also be bushfire construction compliance codes you need to meet which will add to the cost of building the house and perhaps limit what you can do with it. 
 
Crown Roads: Crown roads are an infrequent oddity that can catch regional property owners by surprise. Essentially crown roads are long dormant roads that run through properties. They are usually not even visible nor are they roads in the strict sense. They are more like old worn out tracks and are often only visible on survey maps. Nonetheless they can cause all kinds of headaches for the owner of the property.
Crown roads mean that members of the public are allowed to drive through the property provided they stay on the road. It can be difficult to develop or renovate your property as the crown road cannot be moved and you'll find yourself working around it. And trying to get rid of the crown road is legally difficult and can be highly expensive or both. Not to mention how crown roads can create bad blood with neighbours in battles over access. 
So to avoid the trauma and stress of a crown road check out the survey maps to any property thoroughly.
Utilities: How well connected is the property for water, gas, electricity and heating? If it is somewhat self-sufficient by using systems such as rain water tanks or solar panels – then commission a report and find out the average rain levels or sunlight. Also it’s worth checking out the worst case "what ifs"... For example, what if the roads to the town are all flooded, can the property cope on its own for a few days? What kind of emergency utility back-ups do you have in case of natural disasters?
Area development: What kind of industries may move in next door? This can be anything from highly disruptive operations like coal seam mining to abattoirs and fruit harvesting. It's worth investigating the local economy generally. Country and regional areas are highly affected by any sudden changes to the local industry; for instance, if a large plant closes down or a new rural cattle station opens up. This will have a flow on effect to the economy and the population growth. 
Environmental protection: You'll definitely need to investigate your land management responsibilities. This covers a whole raft of things from pest or weed control, to land degradation, removing trees or building and maintaining fences, native vegetation and health issues. Both the state government and local government may have different requirements form you the landowner. So take care to find your what your responsibilities are and factor in any potential costs. 
So, to sum up, just as much, if not more research is required when buying into regional and rural property markets. There are a slate of highly variable differences to consider that can affect whether your investment is really viable. So, to paraphrase John Williamson - do give us a home among the gum trees but check that the plum trees aren't going to fall on the house.
 SAM KHALIL is founder and director of <a href="https://www.dpn.com.au/" target="_blank">Direct Property Network</a>.
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Tips for buying property in rural or regional locations: DPN's Sam Khalil

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<div class="reported-auctions">
<div class="num">Victoria had a clearance rate of 72 percent from 268 total scheduled auctions for the week ending July 3, according to realestate.com.au</div>
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Realestate.com.au reported 28 properties sold prior to auction, 55 were passed in, 120 sold at auction, 4 were withdrawn and one sold after auction.
For more information <a href="https://www.realestate.com.au" target="_blank">click here</a>.
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Victoria takes clearance rate of 72 percent: Realestate.com.au

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The 1949 house Windy Dropdown on the Curl Curl North headland has been sold for $5.85 million to the Olde family.
The Molong Street house, enlarged since it was built, was the first post-war commission by architect Sydney Ancher.
Featured in Sydney Architecture, Graham Jahn's guide to 300 houses of merit, it was only built for the Farley family after much controversy.
Its flat-roof design was rejected by Warringah Council but approved in a Land and Valuation Court case that triggered the evolution of the Modern Movement.
The former rugby league player turned property developer Phil Franks got permission for the adjoining eight-house estate after paying $4.8 million in 1997 to the Farley family.
The barrister Geoffrey Nicholson who bought Windy Dropdown for $1.6 million in 1998 selling it to the Dickinson family at $5.5 million in 2010.  
This article was first published in the Sunday Telegraph.
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Windy Dropdown, Curl Curl North sells

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It was neck and neck when the Domain website advised Saturday night's auction clearance rates.
Nothing between Sydney and Melbourne with both major auction capitals on 73.5 percent.
It represented a rise for Melbourne and dip for Sydney. 
Just 200 auctions in each city given the school holidays, winter and election distractions.
Strathfield, the regular Sydney auction powerhouse, secured the top result when 12 Newton Road (above) fetched $4.29 million, some $290,000 over reserve. The new luxurious six bedroom, six bathroom family home came with Victorian Ash staircase. The 746 sqm block cost $1.55 million in 2013. There had been $3.7 million price guidance by Devine Real Estate.
Melbourne's highest priced weekend sale came post-auction at Middle Park having price guidance at around $2.6 million.
The <a href="https://www.realestate.com.au/property-house-vic-middle+park-122839898" target="_blank">200 Page Street property</a> fetched $2.65 million was a 1930s triple fronted home on 280 sqm through Greg Hocking Holdsworth.
<img src="/images/2016/07/04/Screen%20Shot%202016-07-04%20at%2010.00.55%20AM.png" alt="">
It had sold in 2004 at $1.5 million.
Brisbane’s auction volumes fell from 175 to 66 this week, according to CoreLogic with the preliminary results showing 38 per cent of auctions were successful, down from 41 per cent over the previous week.
One year ago, 115 auctions were held across Brisbane with 63 per cent clearing, which was the second strongest clearance rate seen in the city last year, CoreLogic's Kevin Whelan noted.
Overall CoreLogic advised 70 percent of capital city auctions across Australia were successful, according to the preliminary results.
It was higher than the clearance rate recorded over the first month of winter in 2016 of 67 per cent.
The number of residential auctions held this week was around 800, down substantially from 2,200 last week.
Across Sydney the North Sydney and Hornsby was the busiest region for auctions and preliminary results showed 86 per cent of reported auctions were successful.
Melbourne's best performer across the city was the inner South sub-region that had a 100 percent clearance rate, but just from the 17 reported auctions.
There were 69 auctions held across Adelaide, down from 90 last week. The preliminary auction clearance rate was 74 per cent, a substantial rise from 59 per cent last week. One year ago, 85 Adelaide auctions were held with 69 per cent sold. 
The Somerton Park house of slain Adelaide Crows AFL coach Phil Walsh has gone on the market with offers sought by July 18.
The <a href="https://www.realestate.com.au/property-house-sa-somerton+park-122950362" target="_blank">four-bedroom, two-bathroom Bungey Ave</a> property is listed by McCammon Real Estate with hopes between $1.175 million and $1.25 million. 
 
<div class="tg-tlc-storybody_intro">
<img src="/images/2016/07/04/Screen%20Shot%202016-07-04%20at%2010.05.13%20AM.png" alt="">
 
Phil Walsh’s son, Cy Walsh, has pleaded not guilty to murdering his father last July.
 
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Strathfield new build tops weekend auction results

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Expatriate Australian billionaire Michael Hintze has spent some small change to buy another Queensland sugar cane farm.
The $9 million bought the 457 hectare parcel from Sugar Water Pty Ltd.
The London-based hedge fund founder has amassed one of Australia's biggest farm portfolios, with acquisitions totalling about 50,000 hectares since 2007.
His private pension funder, MHPF, has spent about $142 million on the land and water purchases.
His Queensland sugar cane farms purchases marked a shift away from its 15 acquisitions in NSW, which include mixed farming of wool, prime lambs, cattle and winter cropping.
Hintze's buying spree began when he spent $12.5 million for a Breadalbane property in July 2007.
He is the founder and senior investment officer of CQS Management, a London-based hedge fund with assets of $US10.5 billion.
Trained as an engineer, he is a well-known philanthropist, with beneficiaries including the University of Sydney and the Vatican's Victoria and Albert Museum. 
His name has been in the British headlines for the past few months given the vote for Britain to leave Europe.
Rare with his public pronouncements, Hintze has said he was not just looking for capital gain from the properties. He says he seeks solid returns on production.
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Michael Hintze buys another Queensland farm for $9 million

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Over the last 25 years, home ownership rates have fallen sharply for young Australians.
Between 1982 and 2011, the home ownership rate for young adults aged 25 to 34 years dropped from 56 percent to 34 percent. Growing concerns about their home ownership prospects have prompted those in Generation Y (defined as 18-35 years for the purposes of this article) to become increasingly vocal about the difficulties of achieving home ownership.
This article draws on survey data from more than 4,300 respondents collected as part of the Bankwest Curtin Economics Centre Housing Affordability Report 2016. These findings highlight the housing affordability concerns of Generation Y.
The vast majority (86 percent) of Gen Y households living in the private rental sector or with their parents aspire to own a home, although not necessarily in the short term. Of these households, 30 percent believed they would be able to buy a home in the next two to five years. One-quarter believed home ownership was five to ten years away. Only 6% did not believe they would ever be able to buy a home.
Although many are choosing to delay home ownership as a lifestyle choice, others are forced to delay because of a lack of affordable housing options. Across all age groups, home owners were more likely to perceive their housing as affordable.
The survey reported that those living in unaffordable housing were making significant sacrifices to meet their housing costs. And 55 percent said sustaining high housing costs was leading to mental health issues, with those most affected in the private rental sector. This highlights the importance of affordable housing.
<h2>The ‘bank of mum and dad’</h2>
The deposit gap is the biggest barrier to home ownership. The survey calculated the average gap between the deposit currently available to an individual and the amount the individual expected to need for home purchase. This gap was around A$50,000.
Among Gen Ys already in home ownership, 38% reported they had received financial assistance from their parents or grandparents. For those yet to enter home ownership, only 17% expected to receive some assistance to buy. A further 24 percent indicated help might be offered.
Therefore, almost 60 percent of Gen Ys surveyed are unlikely to receive the benefit of intergenerational assistance. This may prevent them from ever entering home ownership.
Parental assistance to purchase
<a href="/images/2016/07/01/image-20160617-30196-1oxeqf3.png" target="_blank">Click to enlarge</a>
<h4>
<img src="/images/2016/07/01/image-20160617-30196-1oxeqf3.png" alt=""> 
</h4>
<h2>Housing opportunities for ‘Generation Rent’</h2>
Assistance for home purchase is becoming more and more important for Gen Ys. They are being dubbed “Generation Rent” as the Great Australian Dream of home ownership moves further out of their reach.
Among Gen Y survey respondents, three-quarters rated the First Home Owner Grant and stamp duty relief as being important in helping them into home ownership. Even the scrapped first home saver accountsscheme was viewed as important. The generation is becoming increasingly reliant on these volatile demand-side incentives.
Importance of government assistance
<h4><a href="/images/2016/07/01/image-20160617-30173-1q0l3ls.png" target="_blank">Click to enlarge</a></h4>
<img src="/images/2016/07/01/image-20160617-30173-1q0l3ls.png" alt="">
So what can be done to help those who wish to enter home ownership but lack financial support? Government-backed low-deposit loans such as Keystart in Western Australia and Homestart in South Australia, which are designed for those on low to moderate incomes, have made a real difference to thousands of households. Although not without risk to government, these type of loans could be introduced in other states.
Shared ownership products enable the purchaser and a third party to share ownership of the dwelling, which reduces deposit requirements and monthly payments. These are successful in the UK, accounting for 18% of total housing stock, and are growing in popularity in Australia under the schemes noted above. There may be scope for community housing providers to step into this sector in partnership with private developers.
Discounted home ownership is another option. This option could be tied to developer contributions as part of inclusionary zoning requirements. However, it must be structured in a way that ensures any discount on the market price is retained in perpetuity.
The National Rental Affordability Scheme had its critics but at least provided a supply of affordable housing that reduced the rental burden for many households. That, in turn, increased their chances of saving for a deposit.
The rental sector is in dire need of a replacement scheme, which could possibly be enhanced using a model whereby investors offering new rental dwellings below market rents for a defined period are eligible for stamp duty relief. The argument will be raised that this will encourage demand from investors, raising prices.
Ultimately, the only long-term solution to improve the home ownership prospects of young Australians is to change the imbalance between incomes and house prices.
It is more critical than ever for government to implement meaningful structural reforms that improve home purchase affordability for Generation Y. Otherwise, growing numbers of Gen Ys all over Australia face a lifetime of renting without the financial and emotional security of home ownership.
Steven Rowley is director, Australian Housing and Urban Research Institute, Curtin Research Centre, Curtin University and can be contacted <a href="https://theconversation.com/profiles/steven-rowley-201914" target="_blank">here</a>.
Amity James is senior research officer, Curtin Business School, Curtin University and can be contacted <a href="https://theconversation.com/profiles/amity-james-272922" target="_blank">here</a>.
Rachel Ong is deputy director, Bankwest Curtin Economics Centre, Curtin University and can be contacted <a href="https://theconversation.com/profiles/rachel-ong-113482" target="_blank">here</a>.
All are authors for The Conversation.
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The key to home ownership for Gen Y

Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.

For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.

Online shopping has become one of the clearest examples of that change.

Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.

For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.

That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe>

Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.

The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.

For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.

As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.

It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.

Joel Robinson

Apartment design is adapting to the way Australians shop

While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.

Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.

SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.

"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.

"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."

[smartcode_project:default project_id=134323 project_image_fid=367129]

Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.

Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.

Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.

The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.

[smartcode_project:default project_id=134323 project_image_fid=6393]

Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.

"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.

"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."

Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.

[smartcode_project:default project_id=134323 project_image_fid=6402]

The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.

Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.

"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.

[smartcode_project:default project_id=134323 project_image_fid=6383]

The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.

Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.

The Walden is currently under construction and is scheduled for completion in 2028.

[smartcode_project_cta:default project_id=134323]

ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

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.

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;

Jonathan Chancellor

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