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Two iconic Sydney trophy homes have been listed for sale that now go head to head in a battle for upmarket buyers.
Altona (above), the oft-called eight bedroom home of conspicuous consumption in Point Piper, has hit the market, along with the seven bedroom Elizabeth Bay harbourside home, Boomerang.
Both were prior record setting homes, but not this time around as James Packer's $70 million contemporary Vaucluse sale, after some serious site amalgamations, seems unbreakable for the time being.
The low-key Wang family have listed Altona, their prized Point Piper harbourfront home last sold at $52 million in 2013 on 2400 sq m.
But it won't be setting any price records given its listing follows the sale earlier this week of their adjacent 1000 sqm garden block, reputedly for around $18 million to Chinese buyers.
The iconic Victorian Italianate home was last sold by Deke Miskin, a former teenage magazine publishing industry entreprenuer, and his wife Eve who hosted many social events.
Its been a little quiet since being sold to the Melbourne-linked Chinese property developer Wang Zhijun.
The recently sold garden block had been added to Australia’s most famous trophy home by publisher Matt Handbury and his then wife, former model Fiona in the mid 1990s. 
The Handburys sold their merged 2400 sqm holding - envisaged as a tennis court - to publisher Deke Miskin and his wife, another former model Eve in 2002 for $28 million.
Rosaline Ho of Goldfield &amp; Co has been appointed to sell the home, with Alison Coopes. The Lowy family and actor Russell Crowe rank among a who's who having previously toyed with buying Altona.
Property observers suggest it might sell at around $45 million this time given the reduced land size.
Boomerang, which doesn't come with Harbour Bridge and Opera House views, quietly hit the market earlier this month with ambitious $60 million hopes through Ray White Double Bay.
Sydney's finest Spanish mission-style trophy home, is being off-loaded by Lindsay Fox, the Melbourne-based billionaire trucking magnate who has hosted many charity fund raisers in the 4100 sqm grounds.
The Elizabeth Bay landmark harbourfront home was bought for $20 million in 2005.
The Hollywood-style mansion has often been ranked as the most expensive house in the country as it was the first property to crack the $20 million level.
It was also the first Sydney home to fetch more than $1 million when sold by the original owners in the 1970s.
It was built at a cost of 60,000 pounds for music book publisher (Sir) Alexis Albert, who lived there until he died in 1962 with it then being vacant for more than a decade. 
Perth-based developer Warren Anderson owned it from the mid 1980s until 1993, when he was evicted by the Bank of New York and it was sold by the mortgagee to the now jailed fraudster Nati Stoliar for $6.6 million.
Then merchant banker Malcolm Turnbull was interested at the time, underbidding at its 1993 auction, for the home with its majestic Moorish porte cochère, arcaded loggias, oak panelled library with Tudor-style fireplace and its so-called peacock room conservatory.
Australia’s record house price was set last August at $70 million when James and Erica Packer sold their Vaucluse mansion, La Mer to Chinese-Australian businessman Dr Chau Chak Wing.
<div>The historic Double Bay estate Elaine remains the most expensive property for sale in Sydney after agents set an official price tag of $80 million.</div>
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<div>The trophy home, which sits over 6900 sqm on the harbour, has been on the market for two years through Ken Jacob’s of Christie’s International Real Estate.
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<div>“It is one of the world’s most exciting opportunities,” he said.</div>
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<div>For more than 125 years it has been in the hands of the Fairfax family.</div>
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<div>The Wang's concealed ownership of the property behind a complex shelf company structure, with Chaimovitch Investments Pty Ltd fronted by an elderly relative in Melbourne.</div>
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It's purchase attracted the interest of the Foreign Investment Review Board at the height of Treasurer Joe Hockey's crackdown on illegal Chinese property purchases last year.
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But Wang and his wife Guan Hongyan are now permanent residents, and deciding on downsizing, looking at what next to buy in either Sydney or Melbourne.
A spokesman said the sale was voluntary, not a forced divestiture.
This article was first published in the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

Altona, the Point Piper trophy home hits the market

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House price growth in Sydney and Melbourne is set to halve over forthcoming months, according to the HSBC chief economist Paul Bloxham.  
Sydney and Melbourne house prices grew 13 percent and 14 percent respectively in the year to May, with Bloxham expecting this to decline.
He suggests tighter lending standards, an oversupply of apartments and the escalation of the taxation of foreign buyers to weigh on the market.
He forecasts national growth to slow from the national 9 percent in 2015 to around 4 percent to 5 percent later this year.
The 2017 house price growth will be even slower - between 0 percent and 5 percent, he tips.
He said the re-acceleration of housing prices was "somewhat surprising, given continued tight lending standards and slowing credit growth."
Bloxham expects further tightening of lending standards should there be a strong pick-up in investor borrowing.
"A cooling of the housing market is expected to leave the RBA with room to consider cutting its cash rate further in coming quarters, if needed," he said in a note to clients obtained by Fairfax Media.
"Given the already strong gains in recent years in Sydney and Melbourne, the authorities have been seeking to cool the housing market in these cities."
Mr Bloxham points to solid demand from foreign buyers as one of the main causes for the impressive growth.
In particular, Chinese demand for Australian residential property has been a key driver in the recent fall of the Australian dollar against the yuan, offsetting the increase in Australian dollar-denominated housing prices since 2012.
"In short, Australian housing is just as cheap now for a Chinese buyer as it was four years ago and has become more affordable relative to property in most Chinese urban centres," says Mr Bloxham.
While it is difficult to measure the scale of foreign demand, statistics from the Foreign Investment Review Board suggest approvals have seen a sharp 20 per cent increase of total housing market turnover in 2014-15.
However, new stamp duty and land tax surcharges imposed on foreign buyers will be implemented in NSW, Queensland and Victoria, and are likely to stall foreign demand.
"Foreign purchases could partly explain the recent ramp-up in Sydney and Melbourne housing prices," says Mr Bloxham.  
"We expect recent increased taxes and changes to local bank lending practices are likely to weaken this source of demand in coming quarters."
 The oversupply of apartments will be the third factor prompting house price growth to halve by year's end, though Mr Bloxham concedes it won't happen for a while yet.
"Our estimates suggest that, although there has been a strong ramp-up in apartment construction, we are yet to reach the point of balance in the national housing market."
Bloxham points out apartments account for only 24 per cent of the national housing stock.
"We expect that apparent oversupply in the apartment markets in Brisbane and Melbourne may see some unit price declines in these cities, but we expect the detached housing market to continue to see modest price gains," says Mr Bloxham.
 
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Paul Bloxham says housing price growth to halve over 2016

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
By itself, concrete is a very durable construction material. The magnificent Pantheon in Rome, the world’s largest unreinforced concrete dome, is in excellent condition after nearly 1,900 years. And yet many concrete structures from last century – bridges, highways and buildings – are crumbling. Many concrete structures built this century will be obsolete before its end.
Given the survival of ancient structures, this may seem curious. The critical difference is the modern use of steel reinforcement, known as rebar, concealed within the concrete. Steel is made mainly of iron, and one of iron’s unalterable properties is that it rusts. This ruins the durability of concrete structures in ways that are difficult to detect and costly to repair.
While repair may be justified to preserve the architectural legacy of iconic 20th-century buildings, such as those designed by reinforced concrete users like Frank Lloyd Wright, it is questionable whether this will be affordable or desirable for the vast majority of structures. The writer Robert Courland, in his book Concrete Planet, estimates that repair and rebuilding costs of concrete infrastructure, just in the United States, will be in the trillions of dollars – to be paid by future generations.
Steel reinforcement was a dramatic innovation of the 19th century. The steel bars add strength, allowing the creation of long, cantilevered structures and thinner, less-supported slabs. It speeds up construction times, because less concrete is required to pour such slabs.
These qualities, pushed by assertive and sometimes duplicitous promotion by the concrete industry in the early 20th century, led to its massive popularity.
Reinforced concrete competes against more durable building technologies, like steel frame or traditional bricks and mortar. Around the world, it has replaced environmentally sensitive, low-carbon options like mud brick and rammed earth – historical practices that may also be more durable.
Early 20th-century engineers thought reinforced concrete structures would last a very long time – perhaps 1,000 years. In reality, their life span is more like 50-100 years, and sometimes less. Building codes and policies generally require buildings to survive for several decades, but deterioration can begin in as little as 10 years.
Many engineers and architects point to the natural affinities between steel and concrete: they have similar thermal expansion characteristics, and concrete’s alkalinity can help to inhibit rust. But there is still a lack of knowledge about their composite qualities – for example, in regard to sun-exposure-related changes in temperature.
The many alternative materials for concrete reinforcement – such as stainless steel, aluminium bronze and fibre-polymer composites – are not yet widely used. The affordability of plain steel reinforcement is attractive to developers. But many planners and developers fail to consider the extended costs of maintenance, repair or replacement. 
There are technologies that can address the problem of steel corrosion, such as cathodic protection, in which the entire structure is connected to a rust-inhibiting electric current. There are also interesting new methods to monitor corrosion, by electrical or acoustic means.
Another option is to treat the concrete with a rust-inhibiting compound, although these can be toxic and inappropriate for buildings. There are several new non-toxic inhibitors, including compounds extracted from bamboo and bacterially derived “biomolecules”.
Fundamentally, however, none of these developments can resolve the inherent problem that putting steel inside concrete ruins its potentially great durability.
<h2>The environmental costs of rebuilding</h2>
This has serious repercussions for the planet. Concrete is the third-largest contributor to carbon dioxide emissions, after automobiles and coal-fuelled power plants. Cement manufacturing alone is responsible for roughly 5 percent of global CO₂ emissions. Concrete also makes up the largest proportion of construction and demolition waste, and represents about a third of all landfill waste.
Recycling concrete is difficult and expensive, reduces its strength and may catalyse chemical reactions that speed up decay. The world needs to reduce its concrete production, but this will not be possible without building longer-lasting structures.
In a recent paper, I suggest that the widespread acceptance of reinforced concrete may be the expression of a traditional, dominant and ultimately destructive view of matter as inert. But reinforced concrete is not really inert.
Concrete is commonly perceived as a stone-like, monolithic and homogeneous material. In fact, it is a complex mix of cooked limestone, clay-like materials and a wide variety of rock or sandy aggregates. Limestone itself is a sedimentary rock composed of shells and coral, whose formation is influenced by many biological, geological and climatological factors.
This means that concrete structures, for all their stone-like superficial qualities, are actually made of the skeletons of sea creatures ground up with rock. It takes millions upon millions of years for these sea creatures to live, die and form into limestone. This timescale contrasts starkly with the life spans of contemporary buildings.
Steel is often perceived to be inert and resilient too. Terms such as “Iron Age” suggest an ancient durability, although Iron Age artefacts are comparatively rare precisely because they rust. If construction steel is visible, it can be maintained – for instance, when the Sydney Harbour Bridge is repeatedly painted and repainted.
However, when embedded in concrete, steel is hidden but secretly active. Moisture entering through thousands of tiny cracks creates an electrochemical reaction. One end of the rebar becomes an anode and the other a cathode, forming a “battery” that powers the transformation of iron into rust. Rust can expand the rebar up to four times its size, enlarging cracks and forcing the concrete to fracture apart in a process called spalling, more widely known as “concrete cancer”. 
I suggest that we need to change our thinking, to recognise concrete and steel as vibrant and active materials. This is not a case of changing any facts, but rather of re-orientating how we understand and act on those facts. Avoiding waste, pollution and needless rebuilding will require thinking well beyond disciplinary conceptions of time, and this is especially true for the building and construction industries.
The collapsed civilisations of the past show us the consequences of short-term thinking. We should focus on building structures that stand the test of time – lest we end up with hulking, derelict artefacts that are no more fit for their original purpose than the statues of Easter Island.
Guy Ceulemans is associate lecturer, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/guy-keulemans-182421" target="_blank">here</a>.
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The rust problem with reinforced concrete

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There are $100 million-plus hopes for Washington H Soul Pattinson's Pitt Street Mall headquarters which has been listed by JLL.
The head office and pharmacy of the company, now known as WHSP, has operated at 160 Pitt Street since 1885, after it was rebuilt following a fire to the 1870s building.
The company - managed by the family - has evolved into an investment house with $5.5 billion in assets under management.
One of its best-known assets is the Victorian Italianate retail and office building in the heart of Sydney, one of the select properties with prime Pitt Street Mall.
"It unquestionably is a highly unique, super strategic and really a 'one-off' opportunity to secure an absolute prime foothold in Australia's strongest retail strip," said JLL's Simon Rooney, who has been appointed to sell the property with colleague Rob Sewell.
Pitt Street Real Estate Partners is advising WHSP on the divestment.
The property has a gross lettable area of 1290sq m.
"As a result of the high retailer demand for presence along Pitt Street, it now commands some of the highest rents in the world, with recent evidence showing rates of $12,000 to $15,000 per sq m annually," Mr Rooney said.
According to JLL’s Australasian Retail Investments head, Simon Rooney, Pitt Street Mall is the most productive retail in Australia with estimated sales of approximately $1.4 billion or productivity of around $14,000/sqm and exposure to exceptionally high pedestrian traffic with 65,000 visitations a day, which has drawn high profile international retailers to Pitt Street Mall in recent years such as H&amp;M, Zara Home, Topshop, Sephora, Forever 21, Uniqlo and Microsoft.
There are limited options for contiguous space in Midtown. Vacancy has compressed to 6.4 percent - well below the 10 year average of 8.1 percent. 
There is tangible evidence that rents are rising in Midtown.
"Multiple capital sources are subscribers to the Midtown investment thesis and investor expectation of above trend effective rental growth is reflected in under-writing assumptions," Rob Sewell said.
"This was evidenced by the recent sale of Fortius’s 75 percent share in MidCity Centre to Hong Kong based NGI Investments for $320 million, Brookfield’s 50% share in World Square to ISPT for $285 million and the sale of the Telstra Discovery store at 396 George Street for $26.25 million, representing a record sale rate per square metre of lettable area of $262,500,” said Mr Rooney.
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Soul Pattinson lists on Pitt Street Mall

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Life in the city can be stressful – for birds just as much as people. For humans, cities are expressly designed to put roofs over heads and food within easy reach, but the opposite can be true for many urban birds. They can find food and shelter harder to come by in the concrete jungle – with some notable exceptions.
For any species in any habitat, survival is about problem-solving and adapting to the environment. So what street smarts do city birds need? And why do some species, such as lorikeets, crows and ravens, seem to dominate our urban landscapes?
In general, urban birds must be bolder than those that remain in natural habitats, as can be seen by the boldness (or “habituation”) with which some species will forage for food with people nearby. But they also need to be able to avoid or retreat from unfamiliar objects or situations if they seem dangerous.
City birds also need to withstand exposure to a wide range of pathogens. A study of birds in Barbados found that urban birds have enhanced immune systems relative to their country counterparts.
While we have changed the environment in which some birds live, reducing resources in terms of food and shelter and increasing the number of pathogens that may impact their health, some birds have largely benefited from the new way of life.
<h2>Winners and losers</h2>
Within the urban ecosystem, there are winners and losers in the bird world. The suburban landscape, for example, now provides more nectar from flowers than native vegetation due to the gardens that people have established. This is a big help to nectar-feeding parrots such as Rainbow Lorikeets.
A recent study in Sydney found that the lorikeets benefit from the increased abundance of flowers in urban areas, and their numbers were higher in the leafy suburbs than in bushland.
But if urban areas are such a rich source of nectar, why are some nectar-feeding species declining?
The Regent Honeyeater feeds mainly on nectar and other plant sugars. It has been seen in orchards and urban gardens, but is listed as critically endangered by the federal government.
This is partly because widespread clearance of woodland habitat has led to the increase of the aggressive Noisy Miner and Red Wattlebird. These species find it easy to “bully” other birds in open habitats. Noisy Miners have been observed pulling apart Regent Honeyeaters' nests as they were being built.
Regent Honeyeaters, in contrast, are less adaptable to changed landscapes, because they are migratory and rely on detailed knowledge of existing food sources. If these resources are changed or removed, they may not have enough interconnected patches of habitat to move safely towards new resources – potentially leaving them vulnerable to cats, foxes and aggression from other birds.
Habitat loss can threaten some bird species or even leave them at risk of dying out if they do not locate alternative resources. The ability to find new food sources therefore becomes a valuable survival skill.
<h2>What’s more useful: flexibility or intelligence?</h2>
For some bird species, flexibility in finding food is crucial in making a successful switch to urban environments. One example is the Grey-crowned Babbler, which is endangered in Victoria, but my colleagues and I have documented it living in a suburban area in Dubbo, New South Wales.
This species usually nests in coniferous woodland and forages in the leaf litter beneath the trees. But in Dubbo, we saw these birds feeding on lawns, in playgrounds and even in leaf litter along a train track at the back of urban housing, sometimes visiting backyards along the way. This suggests that these birds can survive the loss of their woodland habitat by being sufficiently adaptable to life in the suburbs – as long as they can continue to find enough food, disperse between nearby groups and have access to native nesting trees.
For other species, such as crows and ravens, intelligence seems to be the key. These species can survive anywhere in the urban sprawl, including places where trees are scarce but rubbish bins are everywhere. Crows and ravens can literally pull food out of a bin and eat it – clearly a learned behaviour that has resulted from problem-solving.
These birds are highly opportunistic and social, allowing them to learn new ways of adapting to the almost complete removal of their natural environment.
<h2>Survive and thrive</h2>
What we can deduce from these examples is that some birds, like Rainbow Lorikeets and Grey-crowned Babblers, can adapt successfully to the urban sprawl as long as some characteristics of their habitat still remain. Other species, such as crows, have gone a step further and worked out how to survive purely on urban resources – effectively making a living in an environment that is completely unnatural to them.
This suggests that the more we urbanise an area without natural aspects, the less bird diversity we will have – and the more our urban areas will come to be dominated by those few species that are hardy, clever or adaptable enough to thrive.
Luckily, some councils in Australia and cities throughout the world are bringing the natural aspects of the forest back into the concrete jungle, so that a wider range of birds might survive here. More research is needed to work out exactly what each species will need, but planting more native plants is always a good start.
Kathryn Teare Ada Lambert is associate lecturer, University of New England and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/kathryn-teare-ada-lambert-186436" target="_blank">here</a>.
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Blocks and flocks: why are some bird species so successful in cities?

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
In his 1972 election campaign, Gough Whitlam loudly proclaimed that in modern Australia an individual’s health, wellbeing and life chances were shaped more by where they lived than by the job they held, their religion, race or ethnicity.
It was a powerful statement that spoke to an Australian population scarred by decades of urban growth unsupported by the infrastructure needed to make places decent, worthwhile environments to raise children, live a productive life and contribute to society.
Fast-forward almost 50 years and urban issues are once again on the agenda. Prime Minister Malcolm Turnbull’s Smart Cities Plan would deliver new transport infrastructure, better urban planning, and the sort of “urban visioning” that earned Whitlam praise and damnation in equal measure.
But there is a big difference this time around. The Whitlam agenda was informed by a fundamental concern with social justice, a desire to improve the lot in life of the most deprived, and a belief in a fairer Australia.
The 2016 articulation of an urban agenda has no such commitment to social ideals. Instead, it assumes building more highways, railways and trams will produce better, more productive cities that somehow give everyone a job.
We know it doesn’t work that way. Our recent research has highlighted both the unequal nature of Australia’s cities and the processes that keep poor places poor.
<h2>Upwardly and downwardly mobile</h2>
On average, about 15 percent of Australians move house each year. Generally, when they move they shift to places that are a bit better than the places they left – that is, places with good access to employment, quality environments, and social settings.
Our research suggests, however, that this statistical average hides a very interesting two-speed process that is neglected by the Smart Cities Plan. The relatively well-off and the upwardly mobile improve the areas in which they live over an extended period. The more economically vulnerable tend to make more frequent, multiple moves – living in slightly less advantaged areas each time.
To put it in plain terms, the poor move to poor areas where they may become even more disadvantaged. Meanwhile, the middle classes move through our cities gradually climbing the housing ladder.
This process has immediate as well as intergenerational implications, gradually filtering some families into areas with fewer and fewer opportunities, poorer educational outcomes, higher transport costs and few resources to deal effectively with health conditions. In some cases, jobs can’t be found, or are simply too far away to be practical.
<h2>Housing affordability widens the gap</h2>
In the current climate of ongoing housing affordability “crisis<a href="https://theconversation.com/our-cities-will-stop-working-without-a-decent-national-housing-policy-60537">”</a> and highly localised house price differentiation, more and more Australians are forced to move through the market because of the (un)-affordability of their housing. Housing affordability should be a key question when we think about our cities.
In our new paper, we examine if housing affordability problems are concentrating some people into less advantaged areas. When we track the residential mobility of Australians, we find that housing affordability is “sorting” some people into more and less advantaged places.
Australia’s housing affordability problems are much more complex than simple supply problems. Cities are shaped by the people who live within them. Some people need affordable housing responses that are smarter than the market alone can supply.
Our work indicates that some people’s access to the good things smart cities have to offer is limited by the location of housing they can afford – be it ownership or rental.
Smart cities of the future will need to address the consequences of housing-generated social and economic inequalities in Australia.
 
Andrew Beer is dean, Research and Innovation, University of South Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/andrew-beer-111469" target="_blank">here</a>.
Emma Baker is reader in Housing, University of Adelaide and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/emma-baker-172081" target="_blank">here</a>.
Rebecca Bentley is associate professor, Centre for Health Equity, Melbourne School of Population and Global Health, University of Melbourne and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/rebecca-bentley-173502" target="_blank">here</a>.
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Smart cities wouldn’t let housing costs drive the worse-off into deeper disadvantage

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GUEST OBSERVER
The domestic market fundamental’s remain strong for housing development following yesterday’s announcement from The Treasury to implement a four percent stamp duty charge on foreign investors.
The Treasury’s move may intend to stabilize foreign investment and increase revenue for the State, however it has little regard for dealing with the ever increasing issue of housing affordability, particularly in Sydney. 
Based on the Sydney median house price of $995,804, the stamp duty bill for an off-shore investor will increase from $40,305 to $80,137 and generate $1 billion over four years for the government.
Increased investment in employment, transport, health, education and recreation infrastructure has been committed by the private and public sector particularly the South West Sydney, and for this reason there is a continued surge of new property sales and importantly ‘occupation’ in developments offering properties well below Sydney metro’s median price.
Sekisui House Australia’s outlook is supported by the newly reported industry data. 
According to the latest Autumn Housing Industry Association (HIA) report for NSW, the ‘AIG–HIA Performance Of Construction Index’ reports new orders in the house sector during early 2016 were somewhat stronger than at the end of 2015.  The index reading in March 2016 was 53.0 points, indicating an expansion in new orders during the month, a positive signal for detached house building activity over the near to medium term.
As the Government shifts goal posts for property investment particularly from off-shore investors, it’s important to focus on the owner-occupier market returning to the fore. Foreign property investors will always play their part in the NSW residential market, but with lower Loan-to-Value ratio being offered by the major banks, we foresee property sales for occupation potentially taking the lead in 2016 and beyond.
Craig D'Costa is the project director at Sekisui House Australia and can be contacted <a href="https://www.sekisuihouse.com.au/" target="_blank">here</a>.
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Treasury's stamp duty move to increase state revenue: Craig D'Costa 

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A manhunt is under way for a Townsville real estate agent who has been found guilty of importing almost a kilogram of methamphetamine from Malaysia.
John Edward Brown, 39, was on trial in the Supreme Court in Brisbane on drugs charges, including the importation of 1kg of powder found to contain 629g of pure methamphetamine in 2012.
He moved to and became a Townsville estate agent shortly after he was charged.
During the five-day trial, the court was told Brown had imported the drugs in late 2012, via an air courier from Malaysia.
The Townsville Bulletin advised on <a href="https://twitter.com/tsv_bulletin?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">its front page splash</a> that, after Brown was cross-examined by prosecutors on Wednesday, June 15, the jury was sent to deliberate, but when they returned with their verdict last Thursday, Brown was a no show.
<a href="https://webcache.googleusercontent.com/search?q=cache:QJYfCjCBeZMJ:https://www.realestate.com.au/agent/john-brown-1401866+&amp;cd=1&amp;hl=en&amp;ct=clnk&amp;gl=au">Brown was a contract estate agent most recently</a>, with the firm not aware he had been charged awaiting trial.
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Townsville estate manhunt after drug importation trial

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The home builder Sekisui House has finalised its acquisition of an 8.1-hectare site in Baulkham Hills in Sydney's northwest for $210 million. 
Sekisui bought the land from property developer Tony Merhi.
It intends to develop it into a masterplanned mixed-use residential community with 1300 apartments. 
Apartment building heights are being considered by the NSW Department of Planning for the site at 47 Spurway Drive.
It is close to the Norwest Business Park and the Castle Hill Country Club.
Toru Abe, the Sekisui House Australia managing director, described it as an "exceptional development" opportunity.
"As the construction of the North West Rail Link continues at pace, we intend to create a masterplanned community set within beautifully landscaped gardens and natural forest," he said.
"We plan to showcase our inherent values of developing ecologically sound communities where residents can entertain, play, reflect and energise with easy access to the surrounds, Parramatta and central Sydney. 
"With Norwest Business Park, one of the largest employment precincts in Sydney and Norwest Train Station at our doorstep, residents will be immediately connected with existing community and future transport links." 
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Sekisui secure Baulkham Hills apartment development site

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Taxing foreign buyers, rather than any new hand outs to first home buyers, was the focus of the NSW State Government budget.
Treasurer Gladys Berejiklian said she wanted to be "cautious" when dealing with the property market given revenue growth was under pressure.
The State Government is not tipping any Sydney property market correction, just a likely easing.
The state budget didn't raise or lower property taxes, other than the much anticipated new taxes on foreign investors.
All foreign property investors in NSW will be hit with a 4 percent stamp duty surcharge when buying homes and apartments and face an ongoing extra 0.75 per cent land tax surcharge on their residential property holdings. It will mostly affect off the plan purchasing.
Treasurer Gladys Berejiklian said she was confident the extra taxes would not deter foreign buyers given other states had similiar measure. It is likely to come from the estimated 6000 annual purchasers made by foreign buyers from today.
"Economists say it is an inelastic market," she said, when asked if there could be any impact on the state's revenue and international standing. It follows similiar taxes in Victoria and Queensland.
Berejiklian's second state budget anticipates a slowing in stamp duty revenues from record levels of revenue from home sales.
But they will still get $8,777 million in the next financial year, then $9,124 million in 2017-2018.
"I don't apologise for be very cautious when it comes to the property market," she said.
Residential transfer duties are tipped to grow at 4.4 percent annually over the next four years, "significantly more subdued than the pace seen in recent years."
There was 13.6 percent growth in the current budget year, and a stunning 40 percent growth when the boom was its most "robust" in 2013.
The NSW State Budget officially revealed an extra $835 million in stamp duty revenue will come from foreign buyers over the next four years.
It also expects $166 million in over the next four years from land tax on foreign investors.
NSW land tax revenues are forecast to rise at a faster rate than stamp duty revenues.
Land tax on investors will yield 8.1 percent higher revenue every year for the next four years, taking revenues from $3,136 million this year to $3,761 million in 2019-20..
The housing boom longevity is not being assumed by the NSW Treasury who suggest price growth was "moderating."
Transfer duty represents 29% of state government revenue. Land tax represents 11%.
The budget papers noted there was potential downside risk of a decline in the broader housing market.
On the upside was "the impact of low, and possibly even lower interest rates leading to stronger housing construction and consumer spending," the budget papers advised.  
There was no change to NSW first home buyer grants in the state budget with the January 2016 reduction from $15,000 to $10,000 triggering a smaller govenment outlay.
Just $96 million was spent on the first home new home scheme this year, down on the $115 million in the 2014-15 year. The first home exemptions and concessions are estimated to sit at $88 million next financial year.
"We are doing every thing we can for first home buyers," Berejiklian said.
"The key thing is to continue to focus on supply," she added noting that there had been record levels of 70,000 new home construction in the year to April.
"We are spending on infrastructure in local areas conducive to housing." 
She anticipated any of the much-speculated glut in new Sydney apartments would contribute to housing affordability by putting "downward pressure on prices." 
"I appreciate the challenges people go through to get into the market."
She also signalled her concern at the Federal Labor's negative gearing tax policy. 
"Without being over dramatic I am concerned that the election of a Shorten government will jeopardise conditions in NSW," she said.
This article was first published by The Daily Telegraph. 
</body></html>

No new hand outs for first home buyers in NSW state budget

The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

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

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.

Jonathan Chancellor

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