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Building approvals were down 14% in September, according to the latest figures from the Australian Bureau of Statistics.
But HIA acting chief economist Andrew Harvey says approvals rose by 0.7% in the month of September in the core detached housing segment of the market.
“The headline result paints a worse picture than reality although it does have to be noted that the market conditions surrounding residential building are soft at present – total approvals in the year to September 2011 are down by 9.3% when compared to the year to September 2010,” he says.
“Today’s figures confirm that yesterday’s interest rate cut was warranted – it was a necessary first step to an eventual recovery in new home building.
“This is not just because it will save around $50 a month off the average mortgage, but more importantly because it should help boost confidence as homebuyers realise rates are no longer on an upwards trajectory,” Harvey adds.
The HIA notes the fall in building approvals is entirely due to the volatile “other dwellings” segment of the market, which fell a sizeable 32%.
“It’s best to abstract from monthly movements in the volatile ‘other dwellings’ segment, as it can be misleading,” Harvey adds.
“The core detached housing segment of the market saw approvals rise by 0.7% in the month of September although they are down by 1.8% over the September quarter.
“The headline result paints a worse picture than reality, although it does have to be noted that the market conditions surrounding residential building are soft at present – total approvals in the year to September 2011 are down by 9.3% when compared to the year to September 2010.”
“Today’s figures confirm that yesterday’s interest rate cut was warranted – it was a necessary first step to an eventual recovery in new home building. This is not just because it will save around $50 a month off the average mortgage, but more importantly because it should help boost confidence as home buyers realise rates are no longer on an upwards trajectory,” Harvey adds.
In terms of the jurisdictions, seasonally adjusted approvals fell in NSW (down by 32.2%), Victoria (down by 13.6%), Queensland (down by 12.7%), Western Australia (down by 1.5%) and Tasmania (down by 4.8%), while approvals rose in South Australia (up by 11.3%).
In trend terms, approvals fell in the Northern Territory (down by 6.2%) and were basically flat in the ACT (down by 0.1%).
Looking through the monthly volatility in building approvals, dwelling construction continued to experience its own two-speed cycle, according to David Cannington at ANZ Research.
“House building approvals continue to be weighed down by housing affordability constraints, while an increasing undersupply of housing and rental market tightness appears to be supporting a significant pipeline of medium density dwelling construction.
“The outlook for this pipeline will continue to fluctuate with developer margins and changes in government policies to address development constraints.
“However, we continue to expect that total dwelling investment, driven by ongoing weakness in house construction, will weaken further and detract from GDP growth in the year ahead,” Cannington notes.
Westpac notes the extreme volatility makes it difficult to get a fix on underlying conditions.
“The firming evident in private sector house approvals and finance data suggests activity may be finding a base in this segment. “There should be more support from state government policy changes in Qld ($10,000 incentive for new building) and NSW (reduced stamp duty concessions for first-home buyers purchasing established dwellings but remaining in place for newly built) and  the RBA's decision to cut rates," the bank says.
“However, fragile consumer sentiment, deteriorating labour market conditions and global financial turmoil will clearly put a dampener on things.
“Meanwhile how much residual weakness is yet to come through the private sector units segment - where there do appear to be more large-scale projects coming through but also an underlying, lagged weakness to the slowdown – is very unclear,” Westpac notes.
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jchancellor-FAypfDUnLy

Residential building conditions still soft: HIA

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Sitcom star Courtney Cox, formerly of Friends, has added a condo in the Sierra Towers complex where West Hollywood meets Beverly Hills.
<img src="/images/stories/cox2.jpg">
The Cougar Town actress spent $US2.05 million on the two-bedroom, three-bathroom unit totalling 155 square metres of interior space as well as a long balcony. Her former cast mate (and onscreen husband) Matthew Perry sold his two-bedroom condo in the same building for US$2.85 million, having bought in 2005 for US$3,2 million.
<img src="/images/stories/coxbalcony.jpg">
The <a target="_blank" href="https://realestalker.blogspot.com/">Realestalker website</a> calls the residential complex star-stocked. The building now even has its own <a target="_blank" href="https://www.facebook.com/SierraTowersCondominiums">Facebook page</a>.
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Courtney Cox buys in Matthew Perry's former building

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Bearish economist Steve Keen says there are a few flawed reasons for the Reserve Bank interest rate cut.
“They have cut rates this time around not because they are proactive, but because they are reactive to their own flawed modelling.
“The only economic models that the RBA use are neoclassical, so by definition they have deficiencies in their modelling,” Keen wrote on <a href="https://theconversation.edu.au/interest-rate-cut-experts-respond-4112?utm_source=The+Conversation+Daily+updates&amp;utm_campaign=da2f2b150a-DailyNewsletter&amp;utm_medium=email" target="_blank">The Conversation</a> academic website.
“They’re about as relevant to the Australian economy or global economy as the weather conditions on Mars are to those on Earth.
“The RBA’s models previously told them that we could expect to see rising inflation and falling unemployment, so that’s why they expected they would need to continue keeping rates up.
“Now what has happened is that inflation is falling when the recent revision of the Australian Bureau of Statistics figures drastically reduced the recorded level of inflation.”
Keen wrote that this should be a surprise to the RBA, because its models would say that with the level of capital utilisation right now we should have rising inflation.
He notes unemployment is rising, which goes against the RBA expectations.
“If it hadn’t been for the redefinition of the consumer price index that led to the ABS revisions, the RBA would have held the line this time around,” Keen says.
“This is because it generally tends to respond too slowly when it needs to move in the opposite direction.
“The RBA probably would have held off to see what this Thursday’s unemployment figures showed.
“But with the CPI revision, the RBA board has a reason that appears consistent with its philosophy about how inflation is caused.
“They can adjust the rate and attribute it to a flaw in the data, which led to the ABS revision. But I think that the inflation figure has come as a surprise to them.
“The RBA is still expecting a booming economy, when in fact what we are experiencing is a debt deflation.
“I’ve had personal experience in talking with deputy RBA governors on this – they do not see the importance of the ratio of private debt to gross domestic product.
“Yet that is what is driving the entire global economy at the moment, because you have unprecedented levels of private debt that were accumulated during asset bubbles, which banks studiously ignored.
“When those asset bubbles reached their peaks and burst, then the debt levels came down as well. That reduction in debt is what drove the global financial crisis,” Keen says.
“The RBA continues to ignore the role of private debt in aggregate demand and economic performance in general, so they will continue to be wrong about this for a substantial amount of time.
“They have cut rates this time around not because they are pro-active, but because they are reactive to their own flawed modelling.
“We can expect more cuts to come,” he predicts.
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Rate cut based on flawed reasoning: Steve Keen

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Inflation looks reasonably under control, and it has looked like that for some time, says Adrian Pagan, professor of economics at The University of Sydney.
“I can’t see the reason why you would cut interest rates by 25 basis points – I don’t believe in 25-point cuts,” the former Reserve Bank board member wrote on <a href="https://theconversation.edu.au/interest-rate-cut-experts-respond-4112?utm_source=The+Conversation+Daily+updates&amp;utm_campaign=da2f2b150a-DailyNewsletter&amp;utm_medium=email" target="_blank">The Conversation</a> website.
“I think that’s a silly situation we got into with making such small adjustments.
“Monetary policy should be conducted with bigger adjustments, although 25-basis-point moves came in when I was on the board, back in 2000.
“There have been bigger changes, but they’ve tended to go towards a sequence of 25-point changes.
“They build up. You never see one of them – you see a sequence of them. I just don’t favour that strategy.
“As far as I can see the outlook here hasn’t changed much at all over the last couple of months, really,” Pagan says.
“And I don’t think the international situation is as bad as everyone thinks it is, but 25 basis points is not a response to that.
“If you really thought it was bad, you wouldn’t be doing 25, you’d be doing 50 or 75.
“Predicting negative outcomes for the international situation is a mug’s game. I don’t think anything much has changed. Mostly people are getting excited about Greek debt, and so on, but even if investors take 50% haircuts it’s not going to go away.
“Fundamentally I don’t see that Greece can stay in the Eurozone,” he says.
“I don’t think it’s going to have a major effect on economic activity, certainly not in Australia anyway.”
The professor argued the outlook for growth was “pretty good”.
“It’s not spectacular, but you wouldn’t be cutting rates because of that.
“And I don’t think you should be cutting rates because of an inflation outcome – it’s just one number.
“You might argue that they have put rates at the level they’ve been because they thought inflation was going to be stronger, so they’re just reversing a little bit.
“Then they’ll be in a position to raise them again if they have to later on,” he suggests.
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Former RBA board member calls 25-point cut a 'silly situation'

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Sydney property owners are the savviest of home loan borrowers and know refinancing can provide better rates and fees, according to a recent HSBC survey.
Polling more than 30,000 Sydney and Melbourne respondents, the survey suggested 80% of Sydney borrowers know their home loan rate, 76% know what fees they pay and 85% think refinancing could reduce their costs further.
Alice Del Vecchio, the head of mortgages for HSBC Bank Australia, says Sydney’s higher average dwelling price of $504,500 compared to the national average of $443,000 was the likely driver for Sydney’s heightened awareness.
“Having a larger financial commitment means home loan rate payments and fees are front of mind for Sydney borrowers,” Del Vecchio says.
“Being more sensitive to interest rate changes, Sydney borrowers clearly see the benefit of shopping around for their home loan.”
Although Sydney borrowers' refinance awareness was higher relative to Melbourne – 85% versus 26% believing they can save money – the survey showed there are still pockets of customers in both cities missing possible savings by failing to explore refinancing.
In Melbourne 60% of borrowers know their rate and 25% know what fees they are paying.
Del Vecchio says the lack of awareness towards refinancing could stem from a perception that it involved paperwork, research and additional costs.
“Customers don’t seem to realise that now is an optimal time to consider refinancing.
“It is a highly competitive lending environment right now and banks are working really hard to win borrowers’ business.”
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Sydneysiders the savviest mortgage refinancers: HSBC

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NSW Treasurer Mike Baird will consider the Sydney Business Chamber proposal that City of Sydney rates fund the necessary light rail and the ferry services for the Barangaroo development.
Lord Mayor Clover Moore says she yet to consulted about the plan, which she suggests would put other planned city improvements in jeopardy.
Sydney Business Chamber executive Patricia Forsythe suggests that procuring council rates through a special act of Parliament could fund <a href="https://www.propertyobserver.com.au/news/barangaroo-must-proceed-even-with-wynward-woes-lord-rogers/2011070750739" target="_blank">public transport to the site.</a>
Public transport is traditionally funded by state, not local government, so Moore has suggested without those rates, the council’s capacity to offer some $180 million to fund its preferred transport initiatives would be called into question.
“Our promise to the government of $180 million for transport and light rail in the CBD included rates forecast right across central Sydney,” Moore says.
Sydney Business Chamber executive Patricia Forsythe says getting transport right for Barangaroo is “the next big challenge”.
She told SMH reporter Josephine Tovey that in an era where credit was tight, where funds becoming available for infrastructure are not as freely given as they were in years past, it is necessary to find  a solution ensuring that transport remains a number one priority.
Construction has recently started on the Barangaroo project, which has been estimated to net $7 million plus annually for the council in rates on completion.
Earlier this year the Barangaroo project's lead architect, Lord Richard Rogers, affirmed the project ought to proceed despite any public transport deficit surrounding the project.
“You have to go ahead, even without it, as otherwise the precinct will be even less sustainable,” Rogers said in an interview proceeding the release of the NSW Auditor-General's report that suggests an extra 13,000 commuters a day would pass through Wynyard station to get to work at Barangaroo within a decade.
The Auditor-General's report highlighted the transport challenge of delivering 22,700 people to Barangaroo, with the former government lacking any specific transportation initiatives.
“It was a pity they [the Labor government] haven’t done more and I hope [the Coalition government] go ahead now, especially with the light rail,” Rogers says.
He says all he could assume was if the density were increased “then ideally a visionary government will put the public transport”.
“It will all help – using the harbour more would be wonderful. I don’t understand why it’s used so little,” he said.
Rogers describes the renewal of the 22-hectare stretch of concrete and East Darling Harbour wharves as ''turning Sydney's back door into another front door''.
Rogers says: “You have to fill in the holes.
"This is a classic hole... It's a big piece of concrete on the potentially most beautiful promontory.
"I sense the new NSW government is very pro strengthening the city," Rogers says.
A report by The Australian in June indicated the new NSW Treasurer, Mike Baird, who has an investment banking background, was one senior figure in the new government who was an unashamed proponent of Barangaroo as a financial services hub for the Sydney CBD.
"Done well and incorporating community concerns, this is our chance to have the Canary Wharf of the Asia-Pacific," Baird suggests.
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Sydney Council baulks at funding Barangaroo transport links

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{yoogallery src=[images/stories/november2chips]}
It even has his leftover beer bottles! The former Pittwater retreat of knockabout Australian actor Chips Rafferty, set on a 2,538-square-metre block at Lovett Bay north of Sydney, remains listed for sale.
The deep waterfront bushland property, which is accessible only by water, has been listed by the Dunn family after 24 years of ownership. It had been the home of Rafferty, otherwise known as John Goffage, and his wife, Ellen, in the late 1940s. The rugged movie star of The Overlanders, a tale about the hardships of Australian outback life, paid £1,205 for the land and built the home amid towering gums.
The Dunn family purchased the first of their two Sturdee Place holdings, with beach and jetty, in 1987 for $550,000. It has been listed by Belle Mona Vale agent Mary Rowley, who expects about $4 million for the three-bedroom house with a prized northerly aspect when offers close November 8.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/chipswall.jpg">
It comes with sandstone steps leading to terrace with a built-in turbo barbecue. There’s also a king-size guest cabin. And Raffety’s display wall (pictured above) – complete with beer bottles, some bearing the date 1952 (pictured below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/chipsbottle.jpg">
The last big sale of a home on the shores of the neighbouring Elvina, Lovett and Towlers bays was the 1920s four-bedroom sandstone house Maritana, which fetched $6.25 million on Elvina Bay in 2007. It is set on a 2,380-square-metre Douglass Estate holding, which sold through Agency by Alison Coopes. It had a 52-metre-wide waterfront, a sandy beach, jetty and boatshed in beautiful gardens with sandstone terraces. Surrounded by vast stretches of national park, Maritana was built using jarrah, kauri and spotted gum by the Gibsons of retailers Foy &amp; Gibson.
Lovett Bay is named after John Lovett, who settled there in about 1836.
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Chips Rafferty's former Pittwater home remains bottled for sale 

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The first Tuesday in November is generally known for the horse race, but Victorian orchardists know that day as the official start of the cherry season.
There are just the two cherry orchards currently listed for sale in Victoria.
There is a 10-hectare orchard situated on the Murray Valley Highway at Wyuna for $480,000.
<img style="border-style: initial; border-color: initial;" src="/images/stories/bigcherry.jpg">
The property is dubbed The Big Cherry (pictured above).
John Lilford, the Hinchliffe + Greed Real Estate Kyabram listing agent, says the majority of the orchard is of different cherry varieties, along with apricots and apples.
He says the property boasts a large air conditioned display area for the sale of fruit and jams produced from the orchard and two large cool rooms used for storing fruit for the market.
<img src="/images/stories/cherries.jpg">
At Wandin in the Dandenong Ranges there is a seven-hectare cherry tree orchard (pictured above).
“All together there are about 3,500 cherry trees,” says listing agent Alex Simule of Russo Thomas Smith and Co Dandenong.
There is a creek is running through the farm and two large dams.
Ainslie, a 21-hectare property at Young in NSW, has been listed with a $395,000 asking price through LJ Hooker agent Christian Rowan. It comes with 160 cherry trees, 1,620 plum trees and 680 fig trees, the only sizeable fig farm in the district.
It has growers’ market potential, Christian Rowan says.
In 2008 the Australian cherry industry – a small agricultural industry – had an estimated 700 growers spread across all states excluding the Northern Territory.
The Dandenong Ranges ranks as the key production area within Victoria along with the Young, Orange and Bathurst regions in NSW, the Mount Lofty Ranges and the Riverland area (SA), the Huon Valley (Tasmania) and the Bridgetown and Mt Barker areas (WA).
Cherry trees grow on most soil types except heavy clays provided that the soil is friable and well-drained, however, they do not tolerate water-logged soil.
As cherries blossom early, the fruit buds are sensitive to spring frosts just preceding and during the opening of flowers.
The Australian cherry industry predominately focuses on the domestic market, particularly the mainland, with only 10% to 15% of the national crop currently exported.
Cherry production by state across Australia (ABS 2008)
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="195"></td>
<td valign="bottom" width="62">
NSW
</td>
<td valign="bottom" width="62">
QLD
</td>
<td valign="bottom" width="62">
SA
</td>
<td valign="bottom" width="62">
TAS
</td>
<td valign="bottom" width="62">
VIC
</td>
<td valign="bottom" width="62">
WA
</td>
<td valign="bottom" width="71">
Total
</td>
</tr>
<tr>
<td valign="bottom" width="195">
Production (t)
</td>
<td valign="bottom" width="62">
4,407
</td>
<td valign="bottom" width="62">
18
</td>
<td valign="bottom" width="62">
846
</td>
<td valign="bottom" width="62">
985
</td>
<td valign="bottom" width="62">
3,389
</td>
<td valign="bottom" width="62">
134
</td>
<td valign="bottom" width="71">
9,779
</td>
</tr>
<tr>
<td valign="bottom" width="195">
Area (ha)
</td>
<td valign="bottom" width="62">
1,322
</td>
<td valign="bottom" width="62">
17
</td>
<td valign="bottom" width="62">
531
</td>
<td valign="bottom" width="62">
827
</td>
<td valign="bottom" width="62">
894
</td>
<td valign="bottom" width="62">
79
</td>
<td valign="bottom" width="71">
3,670
</td>
</tr>
</tbody></table>
In 2002 the industry was worth $54.5 million to the Australian economy.
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Two sweet Victorian orchard offerings as cherry season begins

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The Melbourne Cup is not all about Melbourne, with several landmark properties having pedigree links to the big event. Indeed Archer, the cup’s first winner in 1861, called NSW home. Here are six NSW rural properties that hold a bit of Cup history.
<img src="/images/stories/baroona.jpg">
1. Baroona, Whittingham 
Baroona (pictured above), the striking High Victorian residence at Whittingham, near Singleton, is a 26-room house with observation tower. It stables, designed in the 1880s by architect John Horbury Hunt, stabled two-time Melbourne Cup winner Peter Pan. The marketing suggested the Victorian gothic stable block (pictured below) was the birthplace and final resting place of Peter Pan, who was born in 1929 and died in 1941.
<img src="/images/stories/baroonastables.jpg">
Baroona was known as Rosemount when the initial house was built by pastoralist John Lanarch in 1829. It expanded into a home of 1,115 square metres with a Benjamin Backhouse design after it was bought in 1869 by Albert Dangar, the son of Henry Dangar, the government surveyor. The spiral staircase and tower were designed by architect Frederick Menkens in the 1890s. The upstairs main suite opening to the veranda has a sitting and dressing room and en suite built in 1920 when the Prince of Wales, later King Edward VIII, was a visitor. Baroona sits on 33 hectares with Mudie Creek running through the property, set about 20 kilometres from the Hunter vineyards. It last sold through Alan Jurd at Jurd's Real Estate Cessnock in conjunction with Max Bailey First National, when listed with $3 million-plus hopes earlier this year.
<img src="/images/stories/camelot.jpg">
2. Camelot, Narellan
Narellan’s fairytale-like mansion Camelot (pictured above) has pedigree Melbourne Cup links. The three-storey 1888 house, originally known as Kirkham, was built for the Hon James White, the grand-uncle of author Patrick White. White was cashed up from his winnings from Chester, his racehorse, which had 19 wins – including the 1877 Melbourne Cup and VRC Derby – from 29 starts. Camelot got its name when Mrs Frances Faithful-Anderson bought the Kirkham estate in 1900. It seems that on seeing the property, she was reminded of the opening verse of Tennyson's The Lady of Shalott. Complemented by a beehive-shaped smoke house, an octagonal hen house and large stable block, the six-bedroom mansion was described by arts patron Leo Schofield as the best house John Horbury Hunt ever designed.
<img src="/images/stories/terrara3.jpg">
3. Terrara House, Terrara 
Terrara House (pictured above) was the South Coast home of the legendary dual Melbourne Cup winner Archer, under Etienne de Mestre's stabling. Approached by a long driveway of English elms, the seven-bedroom house, four kilometres from Nowra, comes with stables, tennis court, swimming pool and gardens, set over 6.8 hectares. It last traded at $5 million in 2004. Terrara House is now a wedding reception venue, where guests can sleep in the historic stables (pictured below). 
<img style="border-style: initial; border-color: initial;" src="/images/stories/terrara.jpg">
4. Ballalaba, Jembaicumbene
The 1840s Ballalaba cottage and its 1830s convict-built barn pre-date the establishment of the nearby township of Braidwood. The three-storey stone barn with skillion stables was owned by the free settler Thomas Molyneux Royds, whose stable included the mare Maid Of The Oaks, which foaled the first Melbourne Cup winner, Archer. The property  has views across the Shoalhaven River floodplain to the Bendoura Range.
<img src="/images/stories/thinkbigstud.jpg">
5. Inverness, Burradoo
Inverness, the Burradoo equine property (pictured above), is owned by the Malaysian businessman Dato Tan Chin Nam, for whom Bart Cummings trained Think Big to win the Melbourne Cup in 1974 and 1975, and Saintly in 1996. It has facilities for breeding, foaling, agistment and quarantine, plus irrigation from a registered bore. It was sold by Jack and Sue Woolridge, who have raced horses since 1970. It's now known as Think Big Stud.
6. Huntworth, Werai 
Huntworth, set on 117 hectares at Werai, was formerly owned by Bridget Woodford Smith, who stabled a number of well-known horses including 1981 Melbourne Cup winner Just A Dash.
Plus in the city:
Macleay Regis, Potts Point 
It was following their 1961 triumph that Sidney and Rachel Cohen paid £6,750 for their Macleay Regis, Potts Point apartment.  Cohen, a Potts Point garage operator, had owned the 1961 Melbourne Cup winner Lord Fury, the only horse since 1896 to lead the race from start to finish.
None are available for sale.
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Six NSW pedigree rural properties with Melbourne Cup-winning form

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<img style="border-style: initial; border-color: initial;" src="/images/stories/ascotvale_0000_ascotvalestables2.jpg.jpg">
No Melbourne Cup winner has ever graced these humble Ascot Vale stables. Otherwise there might have been heritage listing claims for the 526-square-metre holding just a short gallop from Flemington Racecourse.
Instead the potential residential development site has been listed with $750,000-plus hopes for November 12 auction through Nada Pali at McLeod Real Estate The Professionals.
<img src="/images/stories/stables3.jpg">
“A rare opportunity exists to turn these horse stables into residential studios, build three or four townhouses subject to council approval or re-develop to your creative flair and vision,” Pali says. “There are no heritage restrictions with residential 1 zoning.”
It’s been listed by the Lawson family, who have owned the property for more than 60 years. Trainer Alec Lawson’s stable included Gay Filou, the Toorak Handicap winner at Caulfield in 1962.
<img src="/images/stories/ascotvale_0001_ascotvalestables3.jpg.jpg" style="border-style: initial; border-color: initial;">
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Stable investment on the market in Ascot Vale

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

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The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

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For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Jonathan Chancellor

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