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The acclaimed New Zealand screenwriter, producer and director Dame Jane Campion is selling her Tamarama apartment.
She bought the 241 sqm investment property for $1.2 million in 2001.  
The listing comes after Campion confirmed she would be co-directing and co-writing a second season of drama series Top of the Lake with the action to be filmed in Sydney and Hong Kong.
<a href="https://www.realestate.com.au/property-apartment-nsw-tamarama-121964138" target="_blank">Listed by Bethwyn Richards of McGrath for March 19 auction</a>, the property has three bedrooms, two bathrooms and numerous outdoor terraces and deckings.
Jane rose to fame through a series of short films before her feature debut with Sweetie in 1989.
She became the first female to win the Cannes Film Festivals most prestigious prize the Palme d'Or in 1994 for her film 'The Piano' which also secured an Academy Award for best original screen play.
Campion's Castlecrag residence, designed by Alex Popov, was sold in 2008.
This article was first published in the Sunday Telegraph.
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Film producer Jane Campion lists in Tamarama

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Residential property investment is going to be a political football during 2016, right up to the election and then beyond.
Just which way the investment herd heads will unfold but property markets don't like uncertainty.
As our politicians dwell on how to tax property investors, many will pause their decision making.
Yes some might rush in ahead of any change, but more likely there could be a flight of capital away from rental housing at the very time when the early 2016 sharemarket turmoil was likely to attract investment towards property.
We have a scenario where both the Turnbull Government and Shorten opposition work have mooted significant changes that will reduce tax benefits arising from property investment.
Both major parties seem intent to end the longstanding negative gearing arrangements that have been in place since the Hawke/Keating Government days.
The opposition has also signalled it intends changing the capital gains tax benefits that have been their since the Howard-Costello government, ie halving from 50 per cent to 25 per cent the capital gains tax deduction for investors who sell a property after holding it for at least 12 months.
The Turnbull government is pursuing negative gearers after tentative plans for an increased GST were virtually ditched as too hard.
Then Bill Shorten announced that a Labor government, if elected, would change the rules so that only new homes purchased after July 1, 2017, could be negatively geared.
Existing investors would supposedly not be affected by the grandfathered tax change, but that ignores the disappearance of the potential investor buyer pool into new housing and leaving just owner occupiers to compete for the established home rental offering. 
While the Turnbull government has rejected Labor's policy to restrict negative gearing to new properties, it seemingly plans to target high-end and professional investors by either capping the number of properties that can be geared or limiting the annual tax deductions of which can be claimed.
Earlier this month the Property Council of Australia released data on the number of negatively geared voters in the most marginal seats and threatened a campaign in Labor and Liberal marginal seats should negative gearing be touched.
Their data indicated over 430,000 Australians who negative gear an investment property live in marginal seats held by the Government and the Opposition.
The 10 most marginal Coalition seats have an average of 8,181 investment property owners and the 10 most marginal Labor seats have an average of 8,357 property owners. 
Federal Liberal Craig Laundy in Barton has over 11,000 with a stake in the outcome. Opposition treasury spokeperson Chris Bowen has 7400 negative gearers in his Sydney electorate.
“Mums and dads see owning an investment property as a way of securing their long term prosperity," said Property Council chief executive Ken Morrison.
“To play with negative gearing is to play with the financial futures of 430,000 people who live in the most marginal seats."
This article was first published in the Saturday Daily Telegraph.
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Property investment becomes a political football

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The headlines around the negative gearing policy uncertainty failed to unnerve Sydney's nascent 2016 auction property revival.
The auction success rate sat well above 70 percent for the third successive weekend as earlybird sellers secured strong buyer interest.
When it came to affordability, there were however just the four reported sales at $500,000 or less across Sydney.
A $488,000 sale of a two bedroom fibro at Bradbury was the cheapest result.
"It sold to an investor," Richardson &amp; Wrench Campbelltown agent Michelle Balabka said.
The biggest weekend sale under the hammer was $3.68 million at Curl Curl.
The five bedroom Curl Curl offering had a $3.5 million to $3.85 million price guide (above).
There was also a $3,675,000 South Coogee six bedroom house sale.
"The Sydney market is back in full swing," the auctioneer Damien Cooley said after the result.
There were private treaty sales of an $8 million plus harbourfront in Northbridge and a $6 million sale in Cammeray.
The weekend had 539 homes scheduled to go under the hammer, which was well up on the 336 auctioned last weekend, CoreLogic RP Data noted but below the same weekend last year.
With 80 auctions the inner west the was busiest district followed by the east, the south and the upper north shore all with 70 or more.
Manly, Mosman and Randwick were the busiest weekend auction suburbs.
The lower auction numbers are securing higher clearance rates with the fewer choices increasing competition for available properties, agents suggest.
There is confidence in Sydney eastern suburbs property, says Bob Guth at BradfieldCleary, following a perfect 10 out of 10 at the agency's first auctions of the year.
Bob Guth suggested the "very best time" to market Eastern Suburbs real estate was February when there is less competition.
After the federal opposition's policy was unveiled last weekend - restricting negative gearing to new properties and reducing capital gains discounts available to investors - the Prime Minister Malcolm Turnbull warned " this should put concern into the minds of every single house owner".
Home owners would see the value of the family home "smashed" under Labor's "very blunt, very crude" negative gearing policy, Malcolm Turnbull warned.
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Negative gearing policy debate fails to unnerve the market

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A nondescript $5.71 million Kew home topped the nation's weekend auction results with most of the six bidders planning to bulldoze the five bedroom, two storey brick home. It was built in the 1950s for the family of renowned expat Australian violinist Neville Taweel.
Just kms away from pricey 78 Sackville Street, a Brunswick offering was the nation's cheapest result.
It was the rather plain $216,000 one bedroom, single storey townhouse at 16/6 Garnet Street. Something of a pass the parcel seems to be going on it as had sold only two years ago at $229,500 and even higher at $240,000 in boomtime 2010, being a $240 a week rental in the meantime.
So all the attention fell on a contemporary Hawthorn East offering that was briefly the backdrop on the reality show, The Real Housewives of Melbourne as the rental home of Jackie Gillies, the wife of Silverchair drummer, Ben Gillies. 
A glamorous 1888 Victorian era home – with a 2010 extension by architect Steve Domoney - was their $2500 a week rental in season one on Foxtel.
Marshall White agent James Tostevin expected 2A Harcourt Street to sell for $3.5 million plus with it fetching $4,105,000 million, some $400,000 over reserve at its weekend auction.
Nothing so over the top in Sydney where the strengthening hammer success rate is mostly seeing results within the pre-auction price guidance.
The Sydney clearance rate sat well above 70 percent for the third successive weekend as earlybird sellers secured strong buyer interest.
When it came to affordability however, there were however just the four reported sales at $500,000 or less across Sydney.
A $488,000 sale of a two bedroom fibro at Bradbury, near Campbelltown, was the cheapest result with 15 Bland Street selling to an investor.
It appeared that the weekend auction buyers ignored the week-long headlines around the negative gearing policy uncertainty.
The CoreLogic RP Data capital city results pointed to a continuing or resurgent seller’s market, though auction bidders are being more measured to avoid runaway prices.
 
<a href="/images/2016/02/22/Screen%20Shot%202016-02-22%20at%209.28.17%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/22/Screen%20Shot%202016-02-22%20at%209.28.17%20AM.png" alt="">
Sydney ranked as the strongest mainland capital city over the past week with a 77 per cent success rate.
The scarcity of early February listings has seen the clearance rate bounce off the canvas, well up on being in the 50s last December.
Next strongest mainland capital over the past week was Melbourne at 73 per cent. Melbourne sales yesterday included Helikon, the ornate 1890s Albert Park home of retired radio medico personality Dr Paul Nisselle – broadcaster on 3LO from the early 1980s - which fetched $2.72 million.
It last traded at $1.89 million in 2009.
But Michael Wipfli, the current day Nova FM breakfast presenter, couldn't sell his Armadale home (above) which was passed in at $1.8 million. It last traded at $1.48 million in 2010, when listed with $1.25 million to $1.35 million hopes.
It had been listed through Jellis Craig agent Simon Dale with price expectations above $1.7 million, and now listed at $1.95 million.
Last week auction volumes almost doubled in Canberra, with 104 homes taken to auction. Despite the rise in auction activity, Canberra’s preliminary clearance rate has remained steady at 71, now with four consecutive weeks of clearance rates above the 70 per cent mark, similar to early 2015.
The overall national clearance rate of 72 per cent compared to last year’s results of 77 per cent, with Brisbane's results especially dragging the national figure down. 
But only Adelaide's 70 percent clearance rate was above the same level last year.
There are 1200 plus auctions scheduled for next weekend in Melbourne, suggesting an interesting few weeks as auction stock levels face the traditional pre-Easter escalation. Sydney sees 1000 plus weeks coming up.
"Auction activity will continue to ramp up which will test the resilience of auction markets on higher volumes," CoreLogic RP Data's Kevin Brogan noted.
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Nova's Michael Wipfli fails to sell in Armadale

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The NSW Central Coast house market was peaking, according to the latest HTW property clock.
Horsham is the another city to now sit at the peak.
Melbourne, Newscatle and Dubbo remain at the peak. 
HTW suggest the Central Coast’s strong market in 2015 was undoubtedly underpinned by Sydney based buyers finding themselves unable to compete in the Sydney market.
"This resulted in better than average rises in property values across the region," HTW suggested.
Although afte a strong period leading to October, the year ended with a 'bit of a whimper" for the region’s market.
"Sales volumes fell somewhat and we really didn’t see any continuing increases in values.
What HTW did notice however was:
• The sudden departure of Asian buyers having a noticeable effect on sale volumes;
• Purchase prices being nearer and sometimes below indicated asking prices as opposed to new records being set every other day;
• Buyers being a little more selective and acting with slightly less urgency;
• The much hyped talk of new residential unit developments in Gosford and other regionally significant developments falling away on whispers that presales and interest were less than expected and project finance was difficult to secure;
• Increased positivity in the retail sector that had been missing for the past several end of year periods.
HTW anticipate if previous property cycles are to be repeated, then the region’s market will be slowing as one property cycle ends and another starts.
"We have felt the market has been at its peak for some time now and a slowdown around the corner, but the peak lasted longer than we expected.
"This is the main difference between this cycle which has been building slowly by comparison over several years and is more controlled as opposed to previous cycles which experienced faster rises over shorter periods.
"Confidence in the market is a good thing, but we think that 2016 should be a year where buyers and investors will need to be more pragmatic and research especially well.
HTW think that while some of the region’s 160 suburbs will see a fall in values this year, most will continue to trade close to or near current values, but with reduced volumes.
Areas likely to see a drop in value will be those where values increased well beyond levels that we as valuers were comfortable with.
"This include areas such as Umina Beach and Woy Woy where values have risen extraordinarily (between 47% and 49% over the past three years) to the point where they are now in direct competition with some Sydney suburbs and a wane in demand seems inevitable as buyers switch their attention to other suburbs.
"It may also be time to be wary of Wyoming and Kariong where residential values have risen quite significantly (upwards of 10% over a twelve month period) and need time to settle down again.
"Something for buyers to be wary of is the unit market in Gosford where close to 700 units have been approved recently.
"Many sites are still in the pre-construction phase and if too many start and finish in a short time frame, then we will no doubt be in an oversupply situation which tends to play havoc with the market."
HTW suggest another sign that confidence has returned to the market is the presence of buyers at the higher end of the region’s value range.
"Absent for some time, some say the return of these buyers provides a restorative factor in the market.
"Suburbs likely to see increased levels of popularity and well worth watching include Pearl Beach, Avoca Beach, Narara, Niagara Park, Bateau Bay and Budgewoi.
"These are suburbs that inexplicably seem to have escaped the attention of buyers during the recent period of increased market activity.
"Two areas well worth a watch and act approach include Woongarrah and Hamlyn Terrace.
"These are suburbs considered attractive to a range of purchasers including first home buyers, young families, commuters and investors due to their affordability levels and good local infrastructure." 
Canberra apartments have joined the other capitals, Brisbane and Melbourne at a market peak in February, according to the latest HTW property clock.
 
<a href="/images/2016/02/08/700_HTW_Houses.jpg" target="_blank">Click here to enlarge</a>.
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NSW Central Coast houses at top of market: HTW property clock

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Following an ASIC investigation, Sarah Jane Busteed has appeared in the Downing Centre Local Court in Sydney charged with three counts of dishonestly obtaining a financial advantage by deception and one count of dealing with over $100,000 that was the proceeds of crime. 
The New South Wales woman has appeared in court on four charges, in relation to self-managed superannuation fund (SMSF) property purchases. 
The ASIC investigation into Busteed's conduct in dealing with members of SMSFs which were undertaking property purchases, prompted ASIC to allege that Busteed dishonestly obtained monies from those SMSFs.
Busteed is also alleged to have dealt with monies obtained from a SMSF which are believed to be proceeds of crime. 
Busteed was not required to enter a plea and was granted conditional bail. The matter is listed for return at the Downing Centre Local Court on 12 April 2016. 
Under the New South Wales Crime Act, the charges of dishonestly obtaining a financial advantage by deception each carry a maximum penalty of 10 years imprisonment, while under the Commonwealth Criminal Code the charge of dealing in the proceeds of crime carries a maximum penalty of 20 years imprisonment or a $216,000 fine or both.
The investigation into Busteed’s conduct was carried out by ASIC’s SMSF Taskforce, which was established in 2012 in response to the growing popularity of SMSFs.
The Commonwealth Director of Public Prosecutions is prosecuting the charges against Busteed stemming from the ASIC investigation, while separate charges including dishonestly obtaining financial advantage have been bought against Busteed by the NSW Police and NSW Director of Public Prosecutions.
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SMSF deception charges follows ASIC investigation

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Singer songwriter Melissa Higgins has listed her warehouse conversion in Melbourne's Abbotsford.
The red-brick residence has three bedrooms, two bathrooms, a study and an outdoor entertaining terrace.
Architecturally designed, the converted warehouse has maintained original features such as high herringbone ceilings and exposed Oregon pillars.
Higgins bought the property for $1.825 million in 2012. More than $2.1 million is expected.
<a href="https://kayburton.com.au/properties/view/353449-21a-mollison-street-abbotsford-3067-sale" target="_blank">Expressions of interest</a> close through Kay &amp; Burton listing agent Sarah Case on February 29.
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Melissa 'Missy' Higgins has listed her warehouse conversion

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Acclaimed architect Virginia Kerridge has sold her own South Coogee home having bought nearby for $2.2 million.
The house with apartment<a href="https://www.modernhouse.co/listings/kerridge-house-apartment/" target="_blank"> was completed in 2011 after a six year build.</a><a href="https://www.modernhouse.co/listings/kerridge-house-apartment/" style="line-height: 1.3em;"> </a>
It was after paying $1.2 million in 2004, that she gradually transformed her 1930s duplex into a pair of contemporary dwellings.
Lots of blackbean timber and polished concrete overlooking gardens designed by landscape architect Jane Irwin.
The Rainbow Street Kerridge house sold through Marcus Lloyd-Jones, the selling agent from Modern House and was listed at $3 million plus.
Kerridge, who graduated from university in 1984, was described by the editor of Architecture Australia, Davina Jackson as "the leading woman private practitioner in Sydney."
This article was first published in the Saturday Daily Telegraph. 
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Virginia Kerridge sells in South Coogee

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<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
GUEST OBSERVER
Much of the current tax debate is mangled by poor analysis and misconceptions. Let’s consider three topics: “bracket creep”; corporate tax rates; and negative gearing.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
The fact that inflation, more precisely wages growth, pushes individuals into higher marginal tax brackets has been advanced as the rationale for a variety of tax proposals. But the unacknowledged elephant in the room is the simple, rational, response to bracket creep – index the tax scales.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
That is, if inflation was 5% over the past year and the 37% marginal tax rate previously started at an income threshold of $80,000, that threshold would be increased to $84,000 (that is, an increase of 5%).
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
It is legislatively and administratively simple. A low inflation environment makes this the ideal time to implement such a beneficial change which can counter profligacy of future governments, should high inflation return and induce higher tax revenues from bracket creep.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
That one is simple. The real issues in the corporate tax rate debate, where many advocate lowering the rate, are more subtle – and missed by most of those advocates. Under our dividend imputation tax system, company tax payments are offset by lower investor tax payments when earnings are paid out as franked dividends to Australian investors. For such investors, lowering the company tax rate has (subject to a few caveats) no effect on their after tax returns from investment.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Who would benefit? Foreign-owned companies for one, for which the after-tax returns from Australian operations are increased (assuming they haven’t structured affairs to avoid tax anyway). That might induce more of them to establish or expand operations in Australia – although it should be stressed that our corporate tax rate, while above that of some Asian neighbours, is below that of a number of advanced countries. So arguments that our corporate tax rate is “uncompetitive” do not obviously cut the mustard.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Other beneficiaries would include private Australian companies owned by wealthy individuals on (hopefully) high marginal tax rates. For them, there are significant tax benefits from retaining earnings in the company rather than paying franked dividends.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Doing so avoids the extra tax payable at the personal level (after allowing for franking credits) due to their marginal tax rate exceeding the company rate. Instead retention of earnings (and franking credits) generates capital gains which may eventually be taxed at the concessional capital gains tax rate. So lowering the company tax rate would benefit these wealthy individuals (and does nothing for small private companies struggling to make a taxable profit).
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
A third set of beneficiaries might be Australian companies – but the source of any such presumed benefit is subtle. A benefit would arise if the cost of equity capital was reduced through a lower company tax rate.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
As explained above, there is unlikely to be any such effect from a change in the required rate of return of Australian investors. Foreign investors might lower their required rates of return, but that is, at least, debatable.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Of course, one doesn’t need to lower the company tax rate to achieve this – a rebate of tax on dividends paid to foreign investors would achieve the same outcome. And the political resistance that would undoubtedly occur in response to such a proposal should indicate that relying on this argument for reducing company tax is untenable. And remember, our company tax rate is in the middle of the pack for advanced economies.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Finally, negative gearing. There is nothing wrong with negative gearing itself (although fraught with risk due to leverage). The problem is that there are undesirable tax benefits associated with it, arising from claiming current tax deductions for interest paid on financing an investment on which tax on returns will be deferred and at a concessional rate.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
The solution? Removing concessional capital gains tax (or at least returning to full taxation of real capital gains) is part of the solution. But it is only part – because deferring tax payments until realisation of the asset sale implies a lower effective tax rate.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
It would not be feasible to tax capital gains as they accrue, given the adverse cash flow consequences for investors. However, we could use a variant of the tax treatment of companies with carry forward tax losses, which are compounded up at the government bond rate to keep their real value until usable.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
Quarantining currently deductible interest costs on negative gearing to offsetting income earned on the investment, plus carry forward of additional unused interest costs is one way to go. When the investment is eventually sold, or when income exceeds interest expense, those accumulated unused costs could be claimed for tax purposes.
<h4><a href="https://theconversation.cmail20.com/t/r-l-vkiihjl-qitldhiii-yh/" target="_blank"></a></h4>
This is not administratively complex, would be fairer for other taxpayers who ultimately pay for the concessions, and might reduce incentives for excessively leveraged investments.
Kevin Davis is research director of Australian Centre for Financial Studies and professor of Finance at Melbourne and Monash Universities, Australian Centre for Financial Studies and author for The Conversation.
He can be contacted <a href="https://theconversation.com/profiles/kevin-davis-3497" target="_blank">here</a>.
 
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Property 101: Understanding bracket creep, negative gearing and corporate taxation

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GUEST OBSERVER
2016 will be the year the residential property cycle starts to ease, with growth in both pricing and development set to trend lower. 
As the residential property cycle recedes, the focus will shift to commercial property. Although investment activity is already running at a high level, interest in commercial property is set to intensify further in the year ahead. 
With pricing likely to be pushed one notch higher to reach record levels, emphasis will turn to increasing returns through improvements in rental levels or a property’s net operating income. Each commercial property sector and market offers very different growth potential.
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.23.40%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.23.40%20PM.png" alt="">
Residential development set to ease 
Recent years have seen an unprecedented rise in residential development, driven by high rise and high density apartments. The extraordinary growth across the industry reflects a surge in investor activity and a significant shift to apartment living in all of Australia’s major cities. 
However, apartment development is likely to slow this year ― following a trend that emerged in the middle of 2015, when approvals started to drop. A decline in approvalsasshown in Chart 1, is typically a signal the commencement of new construction activity will ease within six to 12 months. 
With fewer approvals, commencements have indeed tapered, although they’ve plateaued at a high level. This is likely to see buoyant construction activity continue into 2017.
During the next phase of this unwinding process, as projects are completed, fewer will commence to take their place. The overall effect will be an eventual reduction in development activity which is likely to then continue at a more sustainable level.
Ultimately, this means some of the developments approved over the last few years will not proceed in this cycle. Owners may choose to sell those sites, providing an opportunity for others to develop uses more aligned to the changing demand-side conditions of 2016.
Brisbane and Melbourne to lead site sales
The markets which have pushed hardest in apartment approval and development over the last few years are most likely to witness site sales in 2016. Brisbane and Melbourne stand out as the cities where developers are most likely to sell sites, as markets with sufficient demand for alternative uses in both the short and long term.
Although the Australian economy is forecast to grow below trend in 2016, underlying demand conditions in some sectors are sufficient to support alternative inner-city uses provided for in new development outlined in Chart 2.
Tourism-related activity is growing on the back of the lower value of the Australian dollar and high growth in tourist arrivals from Asia, particularly China. This is leading to demand for more tourist accommodation to cater for various consumer markets.
Similarly, demand for education is enjoying steady growth, particularly for higher education from international students. Purpose-built student accommodation is considered a pre-cursor to provide for this demand. 
The easing back of the apartment development sector could be the opportunity student accommodation providers need ― enabling them to secure their desired sites in strong locations at more reasonable prices. 
Other uses may underpin development or refurbishment of existing buildings on sites previously earmarked for residential. These include boutique retail, office, medical, child care, service industrial, car parking or mixed use.
Local or State Governments may also see an opportunity in 2016 to buy sites to provide for public uses, such as schools, medical or transport-related, to better serve the large and fast-growing high density residential communities of these inner-city locations.
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.24.59%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.24.59%20PM.png" alt="">
Alternatively, existing developer-owners in these areas may look to purchase sites to consolidate properties and plan for projects in the next residential development cycle
Turning to investment
Beyond the likely shake-out in the residential development sector, interest in commercial property as an investment is expected to continue at a high level in 2016.
As uncertainty grows in global financial markets, more investors are driven to purchase quality commercial property. The start of 2016 has already been marked by volatility in markets around the world, including Australia.
With increased investment activity over the last few years, pricing has been pushed to an all-time high, across all price points. However, although prices are high, interest rates remain low making it attractive to buy quality real estate at current prices.
However, its also important at this point of the cycle to take into consideration factors which create a high quality commercial property asset, in both the short and long-term. These include:
•Strength of location for the use(s);
•Prospect of re-letting in the case of a vacancy;
•Strength of the tenant as a leasing covenant;
•Length and terms of the lease;
•Level of the rent relative to the prevailing market;
•Prospects for rent or other property income increases;
•Physical condition of the property and the need for any capital expenditure;
•Redevelopment potential;
•Land use zoning; and
•Any building operating costs which cannot be passed onto the tenant
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.26.58%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.26.58%20PM.png" alt="">
Leasing demand holds strong
Purchasing commercial investment property at a high price places greater emphasis on the ability to increase income from the property and improve future returns.
The prospect for property income growth is driven by the strength of both leasing demand for a property and its location, as well as the number of available suitable properties competing for tenant.
In 2016, the strength of leasing demand for commercial property is likely to be highest in Sydney and Melbourne. In these two cities, growth in population, employment and the economy generally is leading the country and providing the best short-term conditions to reduce market vacancy and increase rents or other property income. 
New opportunities in the mining capitals
A significant trend in 2016 will be investors turning back to consider commercial property in Perth and Brisbane. Although these two markets have been adversely impacted by the restructure of their economies as the mining sector winds back, it seems the downturn phase of this restructure is largely over.
Looking ahead, recovery is the next phase for the Western Australian and Queensland economies and their commercial property markets. This may take some years, but it looks like the worst is over –and both Perth and Brisbane are likely to enjoy an increase in investment interest and activity over the next few years.
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.28.10%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.28.10%20PM.png" alt="">
Expansion into growing markets 
Higher investment yields can be found in Adelaide and Canberra commercial property and this started to stimulate investment activity in both markets in 2015. We expect this activity to increase in 2016 as relatively higher yields will continue to be found in these markets, compared to those in larger cities.
This is also in the context of downward pressure on yields being maintained across Australian commercial property, particularly for quality assets.
There will also be opportunities to invest in commercial property in regional Australia in 2016. However the outlook in these locations varies considerably and is tied to local economic and property drivers as well as being very sensitive to tenant competition.
Those factors which contribute to a quality asset, as outlined on page 2, need to be very carefully considered and applied in smaller markets, as the level of underlying tenant demand is lower and the economies of these cities continue to be heavily impacted by industry restructure.
What does it mean for investors? 
While 2016 is expected to be a volatile year and one underpinned by an acceleration of change to property drivers, there is still plenty of opportunity to engage with the market.
The easing in high density apartment development is likely to see an increase in the sale of sites once earmarked for residential projects. These sites may provide the opportunity to offer uses to service the market created by a fast increasing population in these new high density suburbs. Ideally, shorter-term uses in existing buildings may provide the option for more intensive development in the future, when the residential development cycle strengthens once again.
In the meantime, the popularity of commercial property as an investment is set to increase further in 2016, amidst volatility of global and local financial markets. 
The challenge will be buying the right property at the right price and working to improve income returns into the short to medium-term. While the larger cities offer greater short-term possibilities in this regard, buyers need to be selective elsewhere, as the timing around improvement in the fundamentals is less clear.
 
Kevin Stanley is head of property strategy and research, Corporate Financial Services, <a href="https://www.commbank.com.au/" target="_blank">Commonwealth Bank</a>.
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2016 the year the residential property cycle starts to ease: Kevin Stanley

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

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[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<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/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of 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."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

Jonathan Chancellor

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