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The decision by mining companies to use a fly-in-fly-out (FIFO) workforce rather than base them in mining towns will prevent an oversupply of houses and infrastructure when the boom ends, according to new research presented by the RBA.
The report notes 2011 census data, which suggests that mining-focused areas such as the Pilbara in Western Australia and the Bowen Basin in Queensland have a much higher proportion of FIFO workers, and a much smaller share of permanent residents, than other  townships (and capital cities) in Australia.
“The data suggest a little more than 30% of all people in these ‘mining areas’ on census night were FIFO workers, compared with about 15% in 2006, and 4% to 5% in other towns,” notes the report Implications for the Australian Economy of Strong Growth in Asia co-written by RBA assistant governor Christopher Kent,  Michael Plumb deputy head of economic research at the RBA,  and James Bishop, an RBA economist.
“Once the mining investment phase comes to an end, the utilisation of FIFO labour is likely to fall as labour demand in these areas declines.
“To the extent that much of the extra demand for labour in remote locations is temporary, an advantage of FIFO arrangements is that they can help limit the extent of housing and infrastructure required to service the workforce, and therefore reduce the extent of unused capacity when the boom ultimately passes," says the report.
However, the use of FIFO workers has angered many in mining towns, who claim they receive little financial benefit from the nearby mining projects as a result and are demanding mining companies base more of their workforces in their towns.
The issue is currently being examined in a parliamentary inquiry, which has to date received 226 submissions. The inquiry was launched in August last year and is chaired by independent MP Tony Windsor.
Among the submissions, the Mount Isa City Council in north-west Queensland presented a list of ways to limit fly-in, fly-out (FIFO) mining work.
It recommends the government appoint an officer to determine what proportion of workers should live locally when granting mining approvals.
"An officer should be empowered to make recommendations when they are considering issuing a mining lease," Mount Isa mayor Tony McGrady told the ABC.
“The job of this officer would be to recommend as one of the conditions of the mining lease whether or not fly-in, fly-out operations should be allowed."
McGrady says regional towns across Queensland are emptying out because of the growing trend for miners to travel to work while their families live on the coast.
McGrady also wants the government to implement tax breaks to encourage workers to live in mining towns.
The findings of the research paper Implications for the Australian Economy of Strong Growth in Asia was presented by the RBA assistant governor Christopher Kent at conference in Canberra yesterday.
The conference was jointly hosted by the International Monetary Fund (IMF), Treasury and the RBA.
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Fly-in-fly-out workers preventing overbuilding of houses and infrastructure in mining towns: RBA research paper

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The premises of popular Melbourne café Oli &amp; Levi at the end of the Coromandel Place laneway in the Melbourne CBD failed to attract any bids at auction yesterday.
Try as he might auctioneer David Scholes could not extract any bids from a room packed with potential investors attending the Burgess Rawson portfolio auction at Melbourne’s Crown Casino.
The 40-square-metre café was expected to sell at auction around the $570,000 mark (a yield of around 7.4%), with Scholes trying to cajole investors by telling them the café served “300 cups of coffee before lunch”.
<img src="/images/stories/2012/09/olilevi1.jpg">
However there was no interest at $500,000, $480,000 or $450,000, and the cafe premises was passed in on a vendor bid of $550,000.
Buyers might have held off in the hopes of negotiating a cheaper purchase price post-auction given the café was advertised with tag line "immediate sale required" and had received expressions of interest prior to auction.
It was marketed by Jamie Perlinger and Raoul Holderhead of Burgess Rawson.
The café at 20 Coromandel Place on the ground floor of the Coromandel apartment block pays rent of around $40,600. It is open from Monday to Friday for breakfast and lunch, and Property Observer can attest that the cappuccino ($3.50) and rhubarb tart ($1.50) are well worth a visit.
<img src="/images/stories/2012/09/olilevi2.jpg" width="470">
Coromandel Place is a dead-end laneway that runs off Little Collins Street in between Exhibition and Russell streets.
 
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The café is surrounded by warehouse-style apartments, and there are currently no other retail or eateries in the laneway with the shop next door vacant.
<img src="/images/stories/2012/09/olilevi3.jpg" width="470">
The 90-apartment Coromandel Place tower was completed in 2011 featuring one- and two-bedroom apartments measuring between 47 square metres and 51 square metres, with most owned by investors.
It is noticeable for featuring moveable internal walls. It was developed by VICLAND Corporation and designed by Bruce Henderson Architects. A one-bedroom apartment in the complex can be bought for around $390,000.
An August 2012 retail survey by Savills finding that food services retailers are bolstering Melbourne CBD’s retail leasing market.
Savills' Spotlight on Melbourne CBD Retail survey found the retail vacancy rate as of August 2012 to be just 5.1%, almost unchanged from nearly three years ago despite “the much-discussed retail sector turmoil”.
Report author and Savills Victorian head of research Glenn Lampard says the research demonstrates that an apparent downturn in retailing is not reflected in vacancy data but confined to particular sectors of the market, including those facing the increased competition that internet retailing had produced.
“What we are seeing is a re-organisation of the deckchairs with department stores, big box retailers, and those stores appealing to the discretionary spend, especially fashion, declining in number while food and beverage retailers are taking up the slack,’’ he says.
Savills’ retail directors Michael Di Carlo and Jeremy Marmur say the amount of activity in the leasing market also revealed evidence of an evolution in CBD tenancy mix.
“We’ve done 20% more deals in the period January to August than we did over the same period in 2011," says Di Carlo. 
“What that says is firstly, that the retail market is a lot less sluggish than the headlines would suggest, but with a significant number of those new deals falling to food and beverage retailers, there is now underway a trend towards a real change in CBD tenancy mix,’’ says Di  Carlo.
Recent leases signed by food sector retailers in the Melbourne CBD include South Melbourne takeaway icon South Melbourne Market Dim Sims, which signed its first CBD lease at 26 Elizabeth Street.
Well-known Melbourne restaurateur and chef Marco Santucci agreed terms on a new 400-square-metre lease at 31 Flinders Lane, and a long-standing Hawthorn café has taken a Hardware Lane lease.
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No investor appetite for premises of Melbourne laneway café Oli & Levi despite revival in food-sector leases in CBD

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Landlords could soon have a legal obligation to ensure wooden decks are safe for tenants.
This follows the release of a findings from Rockhampton Coroner Annette Hennessy after an inquest into the tragic death of seven-week-old baby Isabella Diefenbach in May 2010.
Isabella died after falling from the deck of her parents’ rental home in Yeppoon, north of Rockhampton. She was being held by her father, Adam, when his foot fell through a rotted wooden plank on the house’s deck, causing Isabella to fall from his arms.
Hennessy recommends that current state laws be amended to ensure mandatory inspections are undertaken on decks that are 10 years old or more before a property is placed on the rental market, and that ongoing checks of decks are undertaken every three years thereafter.
She has also  called on the real estate industry to ensure wood rot is classified as an emergency repair – meaning any time this is identified in a rental property it must be acted on as an immediate priority.
Before Isabella's death her parents Adam and Jenny had made complaints to their real estate agent and landlord about the state of the deck.
In her report Hennessy said the Diefenbachs went to the real estate agent four times to have the floorboards fixed.
She said a carpenter was called in but had not done the repairs properly.
The legal requirements of landlords and tenants are contained in the Residential Tenancies and Rooming Accommodation Act.
Under the act, works deemed emergency repairs are any of the following:
<ul>
<li>a burst water service</li>
<li>a blocked or broken lavatory service</li>
<li>a serious roof leak</li>
<li>a gas leak</li>
<li>a dangerous electrical fault</li>
<li>flooding or serious flood damage</li>
<li>serious storm, fire or impact damage</li>
<li>a failure or breakdown of the gas, electricity or water supply to premises</li>
<li>a failure or breakdown of an essential service or appliance on premises for hot water, cooking or heating</li>
<li>a fault or damage that makes premises unsafe or insecure</li>
<li>a fault or damage likely to injure a person, damage property or unduly inconvenience a resident of the premises</li>
<li>a serious fault in a staircase, lift or other common area of premises, that unduly inconveniences a resident in gaining access to, or using, the premises.</li>
</ul>
In Queensland, the residential rental sector is managed by the Residential Tenancies Authority.
At the inquest real estate agent Ross O'Reilly said he was aware of some deterioration of timber on the deck before the incident, but said he felt safe while walking around.
He told the court he had not noticed a large hole in the deck.
In her report, Hennessy also called on O'Reilly's Real Estate to adjust its internal practices.
Gino Andrieri from Maurice Blackburn Lawyers, who represented the Diefenbachs at the inquiry, says the coroner’s findings are an acknowledgement that Isabella’s death could have been avoided if things had been done differently.
Hennessy’s other recommendations include that tenants to have greater access to information about their rental properties, including being allowed to access inspection reports to ensure they are confident the house they are living in is safe.
“These changes will require a range of industry bodies to work together to implement, but the priority for the Diefenbach family has always been to ensure lessons are learned and that something like this can never happen to another family," says Andrieri.
“We are hopeful today will see the start of this, right across Queensland’s real estate industry.”
 The Real Estate Institute of Queensland (REIQ) has acknowledged the findings, but having already spoken with the state government, has sought industry self-regulation along with compulsory professional development.
‘‘The Institute has made ongoing representations to the government during the lead-up to the proposed review of the Property Agents and Motor Dealers Act about the need for the introduction of an appropriate disclosure regime for landlords, as implied in the coroner’s recommendations,’’ he said.
‘‘Property managers are the intermediary between property owners and tenants and can often be perceived as having statutory responsibilities under the Residential Tenancies and Rooming Accommodation Act which in fact remain with the owner.’’
 
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Findings from inquiry into Rockhampton wooden deck tragedy likely to change landlord inspection requirements

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Bankmecu has cut its variable rate goGreen home loan by 19 basis points, taking the rate down from 5.98% to 5.79%.
The bank’s basic home loan rate is 6.08%
The green home loan is available to finance homes rating seven stars or more according to the Nationwide House Energy Rating Scheme (NatHERS), which is managed by the Department of Climate Change.
The goGreen home loans are designed to encourage people to purchase, construct or renovate energy-efficient homes to achieve a minimum seven-star energy rating.  “We think that encouraging people to build more environmentally responsible houses is so important that we have reduced this rate outside the normal cycle of Reserve Bank announcements,” says the bank's managing director, Damien Walsh.
“Interest rates are an important cost consideration for consumers. If we lower the interest rates for green homes, we hope to make it easier for people to build and live in green homes."
Nationwide House Energy Rating Scheme (NatHERS) uses computer simulations to assess the potential thermal comfort of Australian homes on a scale of zero to 10 stars. The more stars, the less likely the occupants need cooling or heating to stay comfortable.
A dwelling can be rated before or after it is built. The rating depends on the layout of the home, the construction of its roof, walls, windows and floor, the orientation of windows and shading to the sun's path and local breezes and how well these suit the local climate.
Bankmecu is a customer-owned bank that was previously the credit union mecu.
It became operating as an APRA-regulated bank in September last year.
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Bankmecu cuts variable green home loan rate to 5.79%

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The rental vacancy rate rose sharply in Sydney’s middle and outer suburbs over August to sit at or just above the benchmark 3% rate, according to figures published by the Real Estate Institute of NSW (REINSW). A market is considered to be evenly balance between renters and landlords at a vacancy rate 3%, but anything above 3% favours renters. In the middle suburbs (10-25 kilometres from the CBD) the vacancy rate increased by 0.7 percentage points to sit at exactly 3%, while in the outer suburbs (more than 25 kilometres from CBD) the vacancy rate rose 0.8 percentage points to 3.1%.
The inner-city suburbs rental market remained tight, with the vacancy rate tightening from 2% to 1.8% to give Sydney an overall vacancy rate of 2.7% (up 0.5 percentage points) – the city’s highest vacancy rate since January 2006.
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“Again we are seeing strong growth in available rental accommodation, which is obviously good news for prospective tenants,” says REINSW presidentChristian Payne.
“These latest figures are good news for tenants looking for rental accommodation in Sydney, as a higher percentage of available properties means even greater choice.
“Given this is the second month of strong growth, we will be looking towards the September data to see if a trend is emerging,” he says.
Outside of Sydney, the vacancy rate rose in Wollongong but fell in Newcastle. Wollongong’s overall vacancy rates increased 0.9 percentage points to 3.4%.
The Newcastle rental market remains the tightest NSW metropolitan region, recording a 0.4 percentage point decline in August to a vacancy rate of just 1.4%. On the central coast, the vacancy rate fell 0.4 percentage points to 2.3%. In regional New South Wales the rental picture was mixed, with significant variation across the state. “The Murrumbidgee recorded the lowest percentage of available rental properties at 1.0 per cent and Coffs Harbour recorded the highest with a vacancy rate of 4.7%,” says Payne.
Click to enlarge
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Sydney rental vacancy rate rises to 2.7% in August, with middle and outer suburbs favouring renters

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<img src="/images/stories/2012/09/910k.gif">
The price paid for the premises of the Hungry Jacks take-away in Wangaratta. The 1,815-square-metre corner island site at 20 Ryley Street, Wangaratta, is leased to Hungry Jacks to December 20207 at a current annual rent of $53,445 with annual rental increases of 3.5%. Wangaratta is 230 kilometres north-east of Melbourne, with a population catchment of about 17,000 people. The sale price reflects a yield of around 5.9%. The property was marketed by Jamie Perlinger of Burgess Rawson Melbourne.  
 
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<img src="/images/stories/2012/09/1point85m.gif">
The price paid for a modern car wash at Mitcham in east-suburban Melbourne. The facility, at 458-460 Whitehorse Road, Mitcham, was marketed and sold by Brett Diston of Ray White Commercial Manningham. Diston says an owner investor had sold the freehold land with business to a local party looking for an owner-occupier business. The property is a modern, fully equipped facility on a site of around 959 square metres. Diston says he fielded in excess of 40 enquiries on the property. The property is located about half an hour from the Melbourne CBD along the Eastern Freeway.
 
<hr>
 
<img src="/images/stories/2012/09/4point65m.gif">
The price paid at auction for a warehouse/office complex at Nundah on Brisbane’s northside, which is leased to a long-term national tenant. The sale prices equates to a yield of 8.6%. More than 50 people attended the in-room auction at the Riverside Centre in Brisbane, with the 6,745-square-metre site at Lot 4/629 Nudgee Road, Nundah, offered for sale by Ray White Industrial Milton principal Paul Anderson. There were eight registered bidders for the complex, which was recently leased by global hearing solutions company Bernafon Australia Pty Ltd, with bidding starting at $3 million. “We had a total of 50 bids before the property was sold under the hammer to a Brisbane family syndicate,” says Anderson. The warehouse complex is a modern tilt panel building of 2,200 square metres and includes two levels of air-conditioned office space over 700 square metres. It is leased by Bernafon on an eight-year lease with renewal options at a net rental industry sources estimate to be around $400,000 per annum.
<hr>
<img src="/images/stories/2012/09/20point85m.gif">
 How much ASX-listed REIT Charter Hall’s Direct Industrial Fund 1 has paid to acquire the sixth asset, the Coates Hire Distribution Centre at 29-47 Mudgee Street, Kingston, in Queensland. The acquisition reflects an initial yield of 7.9%. The price includes current construction works to expand the facility. The Coates Hire Distribution Centre is located in the established industrial locality of Kingston, 24 kilometres south-east of Brisbane’s CBD, with direct access to Brisbane’s major arterial linkages, including the Logan Motorway. The facility, located on a 96,840-square-metre site, is fully leased to Coates Hire Operations. The facility is secured by a new 20-year lease, which will commence on completion of the construction works in early 2013. 
<hr>
<img src="/images/stories/2012/09/1point35m.gif">
How much residential property developers have paid for a former car yard site in the Nowra CBD. The property at 130 Kinghorne Street, Nowra, previously home to Nowra Mazda, was sold to Regional Nominees Pty Ltd by Ray White Commercial Shoalhaven principal Scott Baxter. Baxter says the purchasers had lodged a development application with Shoalhaven City Council to build an apartment complex of 41 serviced apartments on the site. The city of Nowra is around 170 kilometres south of Sydney and is the commercial and administrative centre of the Shoalhaven region on the south coast of New South Wales.
 
<hr>
<img src="/images/stories/2012/09/2point26m.gif">
The price paid by a private for an office and warehouse facility at Braeside in Melbourne’s south-eastern bayside industrial precinct. The 31-33 Lakewood Boulevard property was sold on a yield of 8.6% with a long-term lease to 2017 in place to Australian olive oil producer and distributor Redisland Australia Ltd at a net rental of around $224,850 per annum. Savills director Lynton Williams, who negotiated the deal, says the property, which comprised a modern, 2,930-square-metre building, constructed in 2007, had attracted a lot of attention from investors. The vendor was a Melbourne-based developer.
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Commercial hammer prices: Wangaratta Hungry Jacks sells on 5.9% yield

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Mozo says it has received an overwhelming response to its big four bank mortgage discount “mystery” but still won’t reveal what the lender is behind the offer.
The mortgage comparison website is offering a discount of up to 1% off the advertised variable rate of a big four bank. It issued a September 6  press release regarding the offer.
Property Observer and other industry participants signed up to be part of the offer last week but have not received phone calls from Mozo to discuss the details.
The Mozo promotion promised a phone call within 24 hours of registering to “reveal the big four bank behind the deal and answer all your questions”.
<img src="/images/stories/2012/09/mozo1.jpg">
A spokesperson for Mozo told Property Observer the reason for not being contacted “is more likely due to the fact that we have been screening out calls from the industry so that we can focus on helping real customers”.
People in the property industry appear to be able to get Mozo's subsequent wine offer email, but don’t qualify for home loan discounts.
“The popularity of the new service has exceeded our expectations,” added the Mozo spokesperson.
“We've already handled refinancing and new loan enquiries for over $80 million worth of borrowings. Half of this has already progressed through the approval process”
The spokesperson did confirm to Property Observer that the offer was from a “big bank”.
“As this is a 'mystery bank' deal I can't divulge who the lender behind the deal is.”
<a href="/news">Property Observer has previously pointed out</a> that all the major banks offer generous variable rate mortgage discounts of up to 0.9 percentage points for borrowers who take up one of their package home loan offerings.
Mozo claims the campaign can save borrowers more than $100,000, with the savings calculated on the current Mozo mystery bank variable rate of 5.93% for a $500,000 loan, versus the current average big four bank standard variable rate of 6.82% and assumes a loan term of 25 years.
Have you received an offer from Mozo? Sent us an <a target="_blank" href="mailto:news@propertyobserver.com.au">email with your thoughts.</a>
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Mozo ‘mystery’ big four home loan discount deal remains a mystery for some

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An apologetically "downbeat” John Edwards has slammed what he calls an “avalanche” of “foolish government actions” which he says could potentially cause undesirable outcomes for fragile property markets.
His attack on government policies accompanied the release of Residex August property market results, where house prices fell 0.8%, <a target="_blank" href="https://www.propertyobserver.com.au/residential/perth-house-prices-rise-219-in-august-while-melbourne-prices-flat-ilne-residex/2012091856633">with Perth the best-performing capital city with a gain of 2.19% with Sydney and Melbourne house prices flat</a>.
“The simple truth is, in an environment where sentiment is fragile negative news accumulates and contributes to low consumer sentiment," writes Edwards.
“This is perhaps partially responsible for the market downturn in the dwelling price growth in August, after the growth that appeared to be getting underway in July. I also note that the press was reporting a slowing in the Chinese economy in August."
In his blog, he laments the recent actions of federal and state governments and the RBA, which he says could be the “wrong choices”.
“Although housing markets have shown signs of improvement recently, these are progressing at a snail’s pace and remain fragile.
“Decisions made by governments and the Reserve Bank could arguably be the ‘wrong’ choices as far as Australian housing markets are concerned and could potentially cause undesirable outcomes,” says Edwards.
Edwards says he wonders if state governments and the federal government “have lost sight of the reason for governing”.
“It seems that it has become more about scoring points and staying in power rather than working together for the best interest of the population.
“The time for governments to work together to restore consumer confidence in our nation has become critical. We are currently experiencing what I can describe as nothing other than an avalanche of what are, in my opinion, foolish government actions.” Edwards claims the federal government’s carbon tax and resource tax being have been introduced to “ensure a political benefit from a budget surplus”. He also says state governments have retaliated against an uneven distribution of the GST take by doing what they can to gather cash to keep their budgets at acceptable levels by increasing mining royalties and instigating “significant job shedding at a state level”.
“I am left wondering what has to happen to have all governments work as a team for the collective good of Australia.
“The reality is that Australia is headed for trouble if the resources economy stalls badly and unemployment increases. Australia needs to move to remove the Carbon Tax and the Resource Tax and implement a GST to compensate, and maintain a climate where Australian corporations are internationally competitive in the global market, which is contracting due to the difficulties in the US and Europe,” he says.
Looking at the property market more closely, Edwards notes that with current interest rate setting being attractive, “the market should be moving forward more strongly than what we are seeing”.
With auction clearance rates “stubbornly holding within the 50% to 60% range", Edwards says it is difficult to believe that the market is as robust as the press is suggesting.
“According to Residex calculations, capital growth, which is currently more volatile than normal, is again trending down, lending credence to the view that consumers are concerned and uncertain of the future.
“I believe the slow pace to better times is a result of uncertainty and that any significant improvement won’t be seen until there is uplift in sentiment.”
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Avalanche of foolish federal and state government decisions hurting fragile property markets: John Edwards

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A refurbished two-storey retail strip property in Sydney’s Hurstville leased to NAB sold for $9.01 million at auction yesterday.
The sale highlights that retail property leased to bank branches with long-term leases have strong investment value, with the sale price equating to a yield of 5.85%.
Earlier this month a historic Parramatta bank, tenanted by Westpac, <a href="https://www.propertyobserver.com.au/commercial/historic-parramatta-bank-sells-for-%2471-million/2012090956450">sold for $7.1 million to a Hong Kong-based investor.</a>
The Hurstville property received over 90 bids, with bidding starting at $7 million, reported the Australian Financial Review.
Colliers International agent Matthew Meynell, who marketed the retail property alongside Steam Leung, called it a “very strong result” and said it indicated that buyers were chasing properties with “risk-averse qualities".
Both the ground floor and the first floor of the building, which stands on Hurstville’s Forest Road retail strip are leased to NAB on long leases.
The ground floor has a 10-year lease to 2020 with renewal options while the first floor is leased to 2015, also with renewal options.
The bank branch, which stands on a 418-square-metre site at 252 Forest Road is located within the central CBD of Hurstville surrounded by single- and two-level commercial/retail buildings.
It stands next to a St George bank branch and one further shop down from the Westfield Hurstville with bus services located at the front of the property and Hurstville Railway Station directly opposite. 
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NAB bank premises in Hurstville sells for $9.01 million

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Property bubble speculator, Professor Steve Keen will push up subscription prices on his Debunking Economics website from tomorrow, having signed up around 130 subscribers since launching almost a month ago.
The Debunking Economics website, which aims to monetise Keen’s economic thoughts and analysis, had an <a href="https://debunkingeconomics.com/">introductory offer of $25 a month </a> or $250 for year when it launched on August 21.
From September 20 subscriptions will rise to $40 a month or $400 for a 12 month membership.
Keen tells Property Observer the site is growing at about 20 subscribers a day after a slow start.
“Most are US subscribers, with Aussies second, and the vast majority are opting for a year’s subscription - which was unexpected,” he says.
He will look to attract more US subscribers as he takes part in conferences in Chicago and Missouri over the next 10 days.
Keen, the associate professor of Economics and Finance at the University of Western Sydney, will address the The American Monetary Institute conference in Chicago, which runs from September 20-23 and The Post Keynesian conference at the University of Missouri , which runs from September 27-29.
Keen launched the website to monetise some of his economic thoughts, models and unconventional views after six years of running his free Debtwatch blog (<a href="https://www.debtdeflation.com/blogs/">www.debtdeflation.com/blogs/</a>), using his own money with some funding support. Keen continues to run Debtwatch, but with fewer posts.
In his engaging, chatty style Keen quips in one of the lectures posted on Debunking Economics that economics has gone so badly wrong in a “remarkable situation where economic theory is completely devoid of a connection with reality…even after five years of economic crisis has proven this, you still see conventional economists carry on trying to retain their views that failed them before the crisis began".
The website, which is hosted by Las Vegas-based Echo Chamber Media, currently offers subscribers hour-long video on economic behaviour lectures while in the “sandpit” - where Keen develops a new economic ideas - he examines American economist Paul Krugman’s “standard Neoclassical “Loanable Funds” model of lending, and put it into a dynamic model”.
The website also features weekly video interviews on both topical issues, chart packs, fortnightly interactive seminars and blog posts.
Keen remains adamant that house prices will fall by 40% from their peak in June 2010 over the next 10 to 15 years and believes that the days of rising property values are over.
 
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Steve Keen's Debunking Economics website intro subscription price to end and rise to $40 a month

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Joel Robinson

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

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The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

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The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

ACT abolishes stamp duty for first home buyers

A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.

The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.

A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.

[smartcode_project:default project_id=134800 project_image_fid=370648]

Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.

For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.

A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.

[smartcode_project:default project_id=134800 project_image_fid=370647]

The attention to detail extends beyond the rooftop.

Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.

[smartcode_project:default project_id=134800 project_image_fid=372541]

The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.

Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.

Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.

[smartcode_project:default project_id=134800 project_image_fid=351535]

Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.

Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.

For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.

[smartcode_project_cta:default project_id=134800]

Rooftop pool, private dining and skyline gardens to crown West Village's final apartment release, Callista on Park

<a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.

Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.

Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="b84917a1-0d75-49b9-888c-ddf7ebfd6692" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/NEW2026_Wahroonga_Walkway.gif?VersionId=Gk3_xi5ssYfalmwuQQ5umQakddceC31j" />

<a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.

The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.

&nbsp;

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" />

Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.

Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.

Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.

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Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.

The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.

[smartcode_project:default project_id=135247 project_image_fid=364995]

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.

Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.

[smartcode_project_cta:default project_id=135247]

Larry Schlesinger

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