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The average balance of self-managed super funds has topped $1 million for the first time, the latest tax office statistics show. It was at around $800,000 four years ago.
SMSFs returned 9.8 percent on assets in fiscal 2014, the fifth consecutive year of positive returns.
"For the first time the average assets of SMSFs grew to over $1 million in 2014, a growth of 23 percent over five years," ATO assistant commissioner Kasey Macfarlane said.
"Likewise, average assets per member increased to $564,000, the highest over the period," Fairfax Media reported.
The data shows there are one million members of DIY super funds which combined are worth $590 billion in assets.
The average assets per small fund are $1,066,080 and median assets $602,629.
Nearly 31percent of SMSFs now have assets of $1 million or over, including 10.8 percent with assets between $2 million to $5 million; 2.1percent in the $5 million to $10 million range and 0.5percent with a balance over $10 million.
 
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SMSF average balance hits $1 million

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The third-time lucky sales process for beef cattle property Meeleebee Downs has yet to eventuate despite being understood to be gathering momentum earlier this year.
The Australian Financial Review's Street Talk column recently advised there are three parties in advanced due diligence in the Meeleebee auction.
The sale had been expected to wrap up by the end of March.
At least one of the bidding parties is a new investor to the agriculture and cattle industry, according to sources.
A deal fell over in December, despite a $60 million sale price and terms being agreed.
Meeleebee, a landholding of 24,340 hectares within the Roma district in Queensland.
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Meeleebee Downs sale nears?

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVERS
Australia’s local government sector has been undergoing reform in recent decades. The result has been fewer and larger local governments and a reshaped role for elected members or councillors. But do councillors understand what this means for them. 
From the 1990s, the number of councils in Australia has decreased from 826 to 565. Reforms have focused on local councils’ administrative, financial and technical capacities.
These reforms tend to strengthen local government’s service-delivery role. But, so far, they have done little to support local representation and democracy. There are significant concerns that these reforms may have a negative impact on local democracy.
What the changes mean
Local government legislation has changed in many Australian states. The legislation now sets out the roles of the CEO or general manager and the role of councillors. The CEO generally has management responsibility for the organisation while councillors are responsible for strategy and policymaking.
However, what councillors may not necessarily understand is that their role is strategic leadership – not the day-to-day management of the organisation.
As part of the authors' research, we conducted a national survey of councillors on their views of their roles and responsibilities. The preliminary results make it clear they felt they should have more influence over administrative policy and procedures. The difficulty is that legislation says this is the responsibility of the CEO or general manager.
This matters. If councils are larger organisations and councillors represent more residents, it is important that they focus on understanding their communities’ needs and aspirations. For local democracy to be effective, councillors should focus on developing strategic plans to meet residents’ needs, rather than trying to manage day-to-day operations.
State governments argue that the main objective of local government reform is to make councils more efficient. They want to ensure local government’s financial sustainability and its ongoing ability to provide services to the community. This usually leads to fewer and larger local governments. 
A new role?
Australia’s 5,060 councillors represent a wide diversity of communities and govern very different kinds of organisations.
The 565 councils in Australia range greatly in size. The largest, Brisbane City Council in Queensland, has an annual operating budget of A$2.9 billion and serves a community of just over a million people. It covers an area of 133,809 hectares.
The smallest, Sandstone Shire Council in Western Australia, comprises a population of 116 and covers a land area of 3,266,650 ha. This is comparable to the size of Belgium. It had an annual operating budget in 2014 of $3.4 million.
Local government reforms include a stronger emphasis on councillors’ strategic, long-term decision-making role. In New South Wales, councils also have to establish community-engagement strategies.
These changes were intended to shift a previously widespread perception of local councils as simply managers of local services and local infrastructure to one where their role, as democratically representative bodies, gained in significance.
This defining of roles between strategic decision-making and involvement in day-to-day administration is problematic. Some councillors have expressed frustration and confusion when, following changes in the legislation, they are no longer able nor permitted to deal directly with staff.
The preliminary results of our study show that what councillors think is their role may not be the same as the intent of local government reform. Larger local governments also means councillors must represent more people.
Roberta Ryan is director, UTS Centre for Local Government and Australian Centre of Excellence for Local Government, and can be contacted <a href="https://theconversation.com/profiles/roberta-ryan-172068" target="_blank">here</a>.
Su Fei Tan is lecturer, lnstitute for Public Policy and Governance and senior research officer, Centre for Local Government,University of Technology Sydney and can be contacted <a href="https://theconversation.com/profiles/su-fei-tan-237627" target="_blank">here</a>.
Both are authors for The Conversation.
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How council mergers and reforms imperil local government democracy

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Thinking about buying your first home because you've saved for that big deposit? Or are you contemplating instead becoming a first home investor because of the current advantages of negative gearing?
Thanks to negative gearing, buying an investment property may present a better financial proposition than buying a home to live in, particularly if you and/or your partner pay income tax at a relatively high marginal rate. 
Negative gearing involves claiming a tax deduction against your taxable income from all sources for the interest and other expenses which exceed the income from a rental real estate investment.
Owner-occupiers, which includes first-home buyers, get no such incentive.
Thus for an investment property, a rule of thumb is to consider it as a business, meaning any costs running the property can be deducted from your taxable income.
Many young, and not so young, Australians are now taking to what's been dubbed rent-vesting, a trend where buyers – typically Gen Y, purchase their first property for investment purposes rather than living in it.
According to Mortgage Choice research, around 37 percent of property investors are first home buyers, compared to just 21 percent in 2014. 
Estate agent John McGrath noted the logic: buy in affordable suburban areas, while you perhaps stay at home saving or rent in inner city locations that are out of reach but offer a better lifestyle.
It is the case in many markets of Sydney where the rent on a newly acquired investment property will not cover repayments and other costs in their entirety, so an investor will have negatively gearing, and that means tax savings.
So, what are other issues to consider? Certainly the future of negative gearing will be a big federal election issue, so pay close attention on the debate on possible changes to the scheme.
Property investment needs a long-term approach, and the real benefit will likely come from the capital growth, rather than negative gearing, but strong price growth can't be taken for granted especially after the past three years.
Beware that the lenders will be closely tabulating all your actual expenditure and income assumptions in your loan applications, so its best to check for feedback before you sign up on any property purchase.
Unless you are staying rent free or subsidised at home, much of the outcome depends upon the rent you have to pay because, as with any owner-occupied house mortgage, this is paid from after-tax income.
The higher the rent you pay, the less capacity you will have to service the cost of a negatively geared investment home, even after allowing for the tax benefit from a negative gearing loss.
No two lenders will lend you the same amount, so shop around.
And when you do sound out the emerging no go postcodes that lenders are shying away from lending.
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Why negative gearing is a positive for a first home as an investment

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GUEST OBSERVER
The Foreign Investment Review Board (FIRB) annual report includes updated figures on approvals of foreign purchases of Australian residential real estate. 
The data is annual, dated and has been heavily criticised in the past as an inaccurate measure of the true level of foreign real estate purchases in Australia. 
However, it is essentially the only information on the topic with any sort of consistent back history and is therefore a rare clue as to the size, growth and composition of demand from this segment.
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For 2014-15, the aggregate figures show:
36.8k approvals for residential real estate purchases totalling $57.9bn, equivalent to 7.3% of total sales by number and 15.5% by value (note that the treatment of ‘developer off the plan’ approvals means this likely understates the number of properties purchased but overstates the value)
FIRB approvals are up 60-65% on 2013-14, very strong growth but slower than the 98% gain – i.e. doubling – in the previous year and the 150%+ surge in 2010-11. 
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The FIRB figures are lower but in the same ‘ballpark’ as the other main estimate of foreign buyer demand – the NAB property survey, respondents to which have put the proportion of foreign demand for residential real estate at around 5% for existing and 15% for newly built dwellings.
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The state breakdown of FIRB approvals shows:
Vic continues to be the dominant location for properties being purchased by foreign buyers – approvals imply foreign buyers accounted for around 14% of total sales by number and over 30% by value, the latter up 80%yr.
Qld saw particularly strong growth in 2014-15, the value of FIRB approvals jumping 180%yr, but is still a small share overall – 17% compared to NSW and Vic which combined accounted for 77% of FIRB approvals (by value).
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More recent market data shows a sharp slowdown in turnover since mid-2015. With the number of domestic owner-occupier finance approvals rising over this period, other segments are clearly driving the slowdown. While lower domestic investor activity may be the main factor, some slowing in foreign buyer activity may also be contributing. 
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Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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FIRB residential approvals: Westpac's Matthew Hassan

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GUEST OBSERVER
Australian housing finance approvals ticked up in Feb, in line with expectations and confirming other indicators suggesting markets have had a better start to 2016 after a weak finish to 2015.
The detail showed a surprisingly solid gain for investor loans but continued softening in construction-related finance approvals.
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The number of owner occupier approvals rose 1.7 percent in Feb, recovering about half of Jan’s 4.8 percent fall (revised down from –3.9 percent).
Click to enlarge
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That compares to the market forecast of a 2 percent gain – the revision to Jan bringing the final result more in line with Westpac’s 1 percent call.
Note that the holiday low period tends to make monthly housing data choppier and less reliable at the start of the year.
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‘New’ owner occupier approvals (ex refi) were a little firmer, up 2.5 percent mth but with annual growth more moderate (3.2 percent yr vs 5.9 percent yr including refi).
The value of housing finance approvals to investors was a mild upside surprise, lifting 4 percent mth after a 1.6 percent dip in Jan.
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The total value of finance approvals to both owner occupiers (ex refi) and investors was up 3.8 percent mth, 2.7 percent yr.
Overall, the picture points to a relatively steady start to the new year, something also apparent from auction market activity.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Australian housing finance February 2016: Westpac's Matthew Hassan 

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Melbourne's school holidays saw the absence of the typical prestige offerings with the top sale being $2.75 million in Aberfeldie (above).
It sold two years ago in spring 2014 at $2.32 million, so reflected 11 percent price growth for the 2006-built Victorian-era style four bedroom home with study.
Melbourne was the busiest capital city auction market this week, after Sydney was the busiest for the past two weeks.
The 794 Melbourne auctions secured a clearance rate of 73 percent, according to CoreLogic RP Data.
Inner Melbourne, with 171 auctions and North East Melbourne with 110 auctions held were the busiest sub-regions of the city this week, with clearance rates of 72 percent and 76 percent, respectively.
South East and Inner East Melbourne were the only two regions where clearance rates fell below the 70 percent mark this week.
The preliminary auction clearance rate in Sydney stayed below 70 percent again this weekend at 67 percent, down from 69 percent last week.
All much lower than one year ago when it was a redhot 83 percent. 
Sydney’s sub-regions again showed a significant amount of variation in results across the city.
Clearances rates were as high as 87 percent in Inner West and as low as 41 percent in South West.
The cheapest Sydney offering was an over 55s villa in Cronulla.   Sydney auctioneer Rocky Bartolotto noted that not only were volumes down by 25 percent, but the average registered bidder numbers were just under 4 per property, compared to April 2015 which was averaging seven.   Brisbane’s preliminary clearance rate was 56 percent this week, up on the 52 percent last week and 54 percent one year ago.
Brisbane had the weekend's cheapest sale at $237,000 at <a href="https://www.realestate.com.au/property-house-qld-waterford+west-122100694%20%20" target="_blank">Waterford West</a> for a three bedroom home (below) which, according to CoreLogic RP Data, last sold at $235,000 in 2006.
<img src="/images/2016/04/11/main-3.jpg" alt="" width="667" height="500">
Adelaide’s clearance rate was 63.6 percent this week, with Perth auctions at 25 percent last week.
Across Canberra 69 auctions were held this week with a 64 percent sales success including the $1,515,000 sale of the former bolthole of the former Federal Treasurer Joe Hockey.
The three-bedroom property in the prestigious suburb of Forrest sold soon after being passed in on a $1.5 million vendor bid at its 25 Furneaux Street onsite auction.   The national 67 percent success rate, was up from the 66 percent last week, but remaining lower than one year ago 77 percent.
The March 2016 quarter combined capital city clearance rate was 69 percent, lower than the 75 percent in the March 2015 quarter. 
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Aberfeldie tops Melbourne weekend results

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GUEST OBSERVER
Marketing to Chinese consumers is a hot topic for all businesses across different sectors.
 A common misperception for businesses is that they need to be in China to sell to Chinese consumers. This has prompted developers and agencies to invest in roadshows, exhibitions and seminars at China’s prime real estate and events, only to result in expensive failures.
With the growing Chinese population in Australia, sellers need not look too far in reaching out to their prospective Chinese buyers. At ACproperty.com.au we believe there are 3 reasons why you should begin your marketing locally before embarking on overseas marketing investments.
1. Chinese buyers rely on word of mouth recommendations from Australians
The most effective and efficient way of marketing to mainland Chinese buyers is to build a loyal following among the local Chinese communities, who can endorse your brand. Most prospective mainland Chinese buyers have friends and relatives living in Australia. This is one of the biggest reasons that influences their decision to migrate to Australia. The first thing most of them will do is to speak their relatives living in Australia, to understand which area is suitable for their lifestyle and to gain recommendations on property investments, developers or real estate agents.
Glen Waverly High and Balwyn High are classic examples on the success of word of mouth recommendations. None of the schools have advertised in China, yet every prospective mainland Chinese buyers would have heard of Glen Waverley and Balwyn School zones.
Speaking from experience, ACproperty.com.au has been enjoying tremendous success as evident from our 65 percent growth of inbound traffic from China for the past 3 years, while mainly concentrating our marketing efforts on the local Chinese communities and student associations.
2. Chinese migrants in Australia are buying properties too
A significant amount of our web traffic is from high quality leads in Australia. Agents and developers alike will find a group of high conversion Chinese customers right under their noses. The value in targeting this group grows exponentially once we realise that this is the same group that will be recommending your brand to their peers overseas.
3. Chinese buyers want authentic and unbiased local property information
A consistent piece of feedback we receive from our users is that when buying Australian property, they prefer to access an Australian site (vs. Chinese-based sites) so they can access vital local Australian market experience. Our Chinese Concierge Team are constantly receiving calls from buyers wanting to validate information they receive from Chinese sources, which they perceive as biased or incomplete.
To successfully capture the Chinese market, developers and agents should first market to the local Chinese communities, cultivating a loyal following before expanding into overseas marketing. Not only are they potential buyers, they are also huge influencers of their overseas peers. Chinese buyers also view Australian sites and sources as more trustworthy and knowledgeable. 
Australian agents and developers should leverage this inherent credibility to reach international customers and ensure their brand is top of mind among the Chinese community to successfully capture the Chinese market.
Esther Yong is director of <a href="https://www.acproperty.com.au" target="_blank">ACproperty.com.au</a>.
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 Market locally first to reach China: ACproperty's Esther Yong

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The Vestey home on the harbour at Kirribilli fetched $10.22 million when auctioned yesterday.
There were four bidders for one of the handful of freestanding homes with absolute waterfrontage in the lower north shore suburb.
It sold under the auction hammer after 49 years ownership having last traded at $66,000. 
The classic, but tired 1930s estate at <a href="https://www.belleproperty.com/buying/NSW/North-Shore-~-Lower/Kirribilli/House/8P3062-19-elamang-avenue-kirribilli-nsw-2061" target="_blank">19 Elamang Ave</a>, was knocked down to the bidder with the luck 8 bidding registration card, Michael and Louise Tang, who operate supermarkets in Papua New Guinea.
The couple, who own nearby, were the last to enter the bidding contest, at just over $10 million.
There had been a $7 million opening offer, and with a slow start the bidding flew once car dealer John Newell entered the fray at $7.6 million. Newell had been the last to lodge his bidding registration with what proved to be his unlucky bidding card, 1904.
Announced as on the market at $9.6 million, the 765 sqm property was offered following the death last October of Joyce Strong, née Vestey. 
She was the mother of the notorious Michael Telling, who died in 2010, and the grandmother of the 37 year old, Matthew. 
She was the daughter of the Hon Leonard Vestey, 1888-1954, the third son of 1st Baron Vestey. The Vestey family became one of the biggest butchery families in the world, built on the merits of cold-storage shipping. William, the first Lord Vestey, and his brother, Edmund set up an integrated business raising and killing their cattle on the cheap land in Australia and Latin America and shipping meat to Britain, where they developed a chain of butcher shops.
Dr Thomas Hugh Strong, her second husband, was with the United Nations food and agricultural organisation.
The property had been listed with a price guide of $9 million to $9.5 million through Belle Property agents Mark Jackson and Matthew Smythe. 
The last freestanding home on the Kirribilli strip traded nine years ago when money media personality Paul Clitheroe paid $7.75 million. 
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Vestey Kirribilli trophy home on the harbour sells above $10 million

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
The Australian drone industry is set for a shake up following the announcement of a long-awaited relaxation of regulations on their operation.
Australia’s Civil Aviation Safety Authority (CASA) says the amended regulations will come into effect in late September 2016, and with them comes the introduction of new categories of what are known as remotely piloted aircraft systems (RPAS).
The regulations define new low-risk commercial RPAS operations, which will allow operators of sub-2kg craft to fly without the need for an approval or licence.
A drone must be operated in daytime and within visual line of sight of the remote pilot to be classified as low risk. It must not be flown over populous areas and must be kept at least 30 metres from other people.
The drone cannot be flown greater than 130m above ground and it must not be flown within 5.5km of a controlled airport.
Commercial operators in this new category will have to register their operations with CASA on a yet-to-be live website.
Relaxed regulations will also apply to private owners of RPAS of up to 150kg. This is provided they only fly their drone over their private property and they do not operate their aircraft for direct commercial reward.
<h2>Why the change?</h2>
In 2002, CASA was the first in the world to regulate the operation of drones.
The regulations, contained in Part 101 of the Civil Aviation Safety Regulation (CASR 1998), were long considered ground breaking. Much of the success of the Australian unmanned aircraft industry is owed to the flexible approach outlined in the regulations.
In 2007, there were fewer than 25 certified drone operators in Australia. By March 30, 2016, this number had grown to 500, with most operating small multi-rotor RPAS.
But with this rapid growth came the increasing need for regulatory reform. CASA recognised that the regulations needed to keep pace with increasingly capable technology, and the changing operational needs of the sector.
It also realised that processing an ever increasing number of regulatory applications was not sustainable.
<h2>Welcome news</h2>
The new changes will significantly reshape the drone industry.
Operators already licensed by CASA are expected to face increased competition from the new sub-2kg RPAS operators. These new operators will be able to provide equivalent aerial photography and inspection services without the same regulatory overhead.
Similarly, there will be an increase in the number of end-users choosing to own and operate their own internal RPAS capability instead of contracting existing RPAS service providers. Examples include the use of small inspection drones on building sites and the use of drones by tactical police units to assist them in hostage situations.
But it is not all doom and gloom for the current licensed RPAS operators. The standard operating conditions applicable to the new low-risk categories are restrictive.
Larger and more reliable drones will still be needed to carry bulky and more expensive payloads such as laser scanners, and hyper-spectral and cinema-quality cameras. These drones will still need to be operated by licensed operators.
Approval is still required for first person view (FPV) outdoor flying operations, where the remote pilot flies by means of a camera mounted on board the drone.
Similarly, autonomous drones, which operate without any input from a pilot, also require CASA approval on a case-by-case basis.
Research and educational institutions, such as universities, are also expected to benefit from the new categories, provided they operate their aircraft over their own property and in accordance with all other operational restrictions.
Previously, these institutions were subject to the same licensing requirements as commercial operators.
<h2>Hobby users</h2>
The amended regulations do not address concerns posed by the rapidly growing number of hobby drone users.
Regulations applicable to hobby or recreational users are contained in CASR 1998 Part 101.G, which is the subject of a separate CASA regulatory reform project.
There is growing concern over the risks hobby users pose to other aircraft and to members of the public. Some of these hobby users are not aware of the potential danger their drone may pose.
There have been numerous near misses of small drones with passenger aircraft in recent years. As the rate of these incidents increases, there is real concern that a drone will eventually be ingested into an aircraft engine causing catastrophic damage – or worse, an airline crash.
Others are well aware of the dangers their drones may pose to the public but they are deliberately mischievous anyway.
Education remains the only effective tool, with CASA leading a campaign to educate hobby users on the safe operation of their aircraft and the regulations that apply to them.
Without doubt, the release of the amended regulations will mark a significant milestone in the history of the Australian drone industry. They will help to sustain the safe and viable growth of the sector.
But the devil may still lie in the detail, of course, with the accompanying manual of standards yet to be released by CASA. The manual will contain more detailed requirements including those for remote pilot licences, flights in controlled airspace, and flights beyond visual line of sight of the pilot.
CASA’s exact interpretation of “Aerial Work” and “Commercial Reward” also remain unclear.
Reece Clothier is senior lecturer, RMIT University and can be contacted <a href="https://theconversation.com/profiles/reece-clothier-248964" target="_blank">here</a>. Jonathan Roberts is professor in robotics, Queensland University of Technology and can be contacted <a href="https://theconversation.com/profiles/jonathan-roberts-94843" target="_blank">here</a>. Both are authors for The Conversation.
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New relaxed drone regulations will help the industry take off

A who's who of Australian surfing, business and entertainment has emerged on title records following the completion of Esprit Rainbow Bay, the latest boutique beachfront apartment development by former professional surfer Paul Gedoun's S&amp;S Projects.

The completed project has attracted an enviable collection of owners, many with long-standing ties to the southern Gold Coast and the surf culture that has helped define Rainbow Bay and neighbouring Kirra for generations.

Given Gedoun's own background in surfing, it perhaps comes as little surprise that some of Australia's most recognisable surfers have chosen to buy into the development overlooking one of the country's most celebrated stretches of coastline.

Pezet Matheson directors Jayde Pezet and Todd Matheson launched the project in late 2021, and have managed the sales campaign all the way through to its sell-out and recent completion.

<img alt="Esprit" data-entity-type="file" data-entity-uuid="08fc6261-b84e-4b09-8a44-66d3067fd0d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-29%20at%208.51.05%E2%80%AFAM.png?VersionId=4AOcb6ETZwNUnMPdTtz1B3pZAIB_jgZ2" />

Former world champion Mick Fanning, who grew up in Coolangatta, secured an apartment in 2023. He paid&nbsp;$2.07 million. Last year he sold his Bilinga home for over $16 million.

Three-time world champion Joel Parkinson also purchased in the development, alongside big wave surfer Mark Mathews. Mathews bought the most expensive apartment in the building, spending just over $4 million.

Joining them is Rip Curl founder Doug Warbrick, whose company helped shape Australia's global surfing industry over the past five decades.

The appeal of Rainbow Bay has extended well beyond the surfing community.

International DJ Paul Fisher purchased an apartment through his investment vehicle, YLB Developments, an abbreviation of his trademark phrase "You Little Beauty".

The purchase comes as Fisher and his wife Chloe are developing their own luxury apartment project further north in Palm Beach. Their boutique beachfront development, Pescado, comprises just seven apartments on Jefferson Lane, which start from just shy of $6 million. The couple intend to retain the two-level penthouse as their Australian base between international touring commitments.

Melbourne Storm coach Craig Bellamy and his wife Wendy have also invested in Esprit, purchasing two apartments after spending decades holidaying on the southern Gold Coast. They also have a luxury apartment in Joe Adsett's Rockpool, less than 400m away from Esprit.

<h2>Boutique project draws owner-occupiers</h2>

Esprit launched in 2021 and sold strongly, with buyers drawn to its boutique scale, beachfront position and contemporary design.

The completed development comprises 94 apartments across 11 levels, offering expansive floorplans designed primarily for owner-occupiers rather than the investor market.

Crowning the building is Club Esprit, pitched as being the Gold Coast's first residential rooftop wellness centre. The roof features a&nbsp;25 metre magnesium lap pool, which is surrounded by wet daybeds and poolside cabanas,&nbsp;multiple barbecue areas,&nbsp;a yoga and relaxation play lawn, and a private dining room with a kitchen scullery, bar, lounges, and an outdoor terrace.

The wellness centre is&nbsp;fully equipped with a Technogym, ice bath, infra-red sauna, steam room, thermal room, and treatment room. The roof has views spanning&nbsp;Rainbow Bay, Snapper Rocks and the Pacific Ocean.

<h2>S&amp;S Projects continues to shape Rainbow Bay</h2>

S&amp;S Projects founder Paul Gedoun has become one of the key figures behind Rainbow Bay's evolution over the past several years.

After establishing S&amp;S Projects, Gedoun has focused on delivering lifestyle-driven apartment developments designed primarily for owner-occupiers seeking a permanent coastal home.

Esprit is Gedoun's third completed project in Rainbow Bay, following Flow and Awaken, both of which achieved record prices for the suburb.

He is now delivering <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, a 38-apartment development on Boundary Street that is currently selling, and has no plans to leave the precinct anytime soon. S&amp;S Projects has also lodged plans for its fifth Rainbow Bay development, an 88-apartment project on Boundary Street featuring a strong wellness focus.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">First look: S&amp;S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street</a>

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Joel Robinson

Who's who of buyers revealed as Esprit Rainbow Bay settles

Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.

The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.

The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.

Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.

“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass. 
 
“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”

He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.

Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.

The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;

New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;

Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.

"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;

NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;

Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

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

Apartment design is adapting to the way Australians shop

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

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

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

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

Jonathan Chancellor

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