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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

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

Joel Robinson

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

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

Jonathan Chancellor

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