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<h2>OPINION:</h2>

The people with the loudest voices in the property industry (or those that like the sound of theirs the most) have been urgently spruiking who or what will make the biggest contribution to THE <a href="/guides/covid-19-how-to-adapt-to-working-from-home">FUTURE OF WORK</a>:

“This is the end of the office as we know it.”

“Working from home will be the new norm for many.”

“Co-working caught in the falling occupancy crunch.”

“In the past 2-3 weeks, <a href="/news/how-to-effectively-manage-a-remote-workplace-during-social-distancing">COVID-19 has advanced</a> the flex-space industry by 5-7 years”

“Star of Netflix hit series Tiger King claims his parks can also double as touchdown offices.”

(The last quote may or may not have been said.)

What we do know is this: the future of work is being framed by the greatest period of content creation and consumption in human history. 

Let’s take a little test.

How many times today do you remember reading or hearing the words “remote”, “flexible” and “collaboration”:

A. 50-75 times 
B. 75-100 times 
C. 100+ times

Now, before we were seduced by the omnipresent future of the work news cycle, we had a little problem on our hands. 

When I say “we” I mean our <a href="/news/density-sprawl-growth-how-australian-cities-have-changed-in-the-last-30-years">cities</a>, its law makers and its people. And when I say “little” I mean the greatest problem facing the property industry in history.

Today we lost another high street veteran. After 58 years of being that source of truth for Blundstones, head-torches and pocket knives, Aussie Disposals closed its 30-something strong network of tent flaps. Forever.

When we talk the future of work, imagine if there was something that could:

1. Create a use for retail premises that apartment developers don’t want to build

2. Help sell and lease apartments

3. Provide a product that aligns with the apartment developers &amp; residents aspirations that absolutely, definitely isn’t another nail salon

4. Reduce <a href="/news/grattan-institute">congestion</a> on roads and freeways

5. Relieve pressure on public <a href="/news/melbournes-revised-transport-strategy-2030-aims-to-deliver-870-billion-boost-to-economy">transport networks</a>

6. Allow large businesses and small to have a presence close to where people live, that isn’t their homes

7. <a href="https://www.inc.com/sujan-patel/20-creative-ways-to-boost-employee-morale">Improves staff morale</a>

8. Is a net contributor to communities by keeping people local, for longer?

These are just a few. For anyone that is interested, my list currently stands at 76 and is growing daily.

Despite the horrific din created by us know-it-alls in the past few weeks, I haven’t read anything that comes close to solving as many problems and creating as many benefits as the sensible, sustainable repurposing of shops into offices. 

Anyway, it’s just another idea to throw into your future of work consumption for today.
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Melvie

The Future of Work Discussion is Missing its Biggest Opportunity

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<h2>OPINION:</h2>

As the curve begins to flatten and we all <a href="/guides/covid-19-how-apartment-dwellers-can-keep-themselves-safe-during-self-isolation">join together to stave off</a> this deadly virus, many of us around the country are taking this opportunity to focus one’s attention on good old health and fitness.

Whilst there is little doubt the high street has borne the brunt of the digital age these past few years, it is safe to say those retailers who went into this lockdown stocked with home fitness equipment, running shoes, training gear and alike have never had it so good. Never before have so many wild MAMIL’s (middle-aged men in lycra) been seen trundling up and down our roads with such devotion.

Most, you would hope, are fully aware that their reward, their trophy for such dedication will not materialise with a run out on the hallowed turf of the MCG, nor hold pace with the peloton in the Pyrenees this June. They will, I’m sure, swagger their way to their next periodic health check with little doubt that nothing more than ample praise awaits them from their trusted GP.

Now ask yourself this, if you’re willing to grind out the km’s, to calorie count your way past the chocolate aisle in search of the ever-evasive rolls of necessity, why is it that so few of us take a good proper look at our financial health?

It is no secret that Australia’s household debt levels are <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-10-18/household-debt-leaves-australians-working-longer-spending-less/11608016">mightily high</a>, the comparisons to the USA pre-2008 are hard to miss. A soaring property market backed by increasingly cheaper availability of credit has left the average Australian wondering just how they’re going to meet their monthly repayments.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/covid-19_health_check-2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/covid-19_health_check-2.jpg?itok=3vu6ZsVg" width="580"></a>

<figcaption> </figcaption></figure>Take car loans for example, <a href="https://www.whichcar.com.au/car-news/aussies-crippled-by-8b-car-debt-report">according to WhichCar</a>, more than $8 billion was borrowed by Australians to buy new cars in 2018 alone. It doesn’t matter how much pavement stomping you’ve been up to these past few weeks, that’s an insane amount of debt when you think we’re a <a href="/news/how-close-is-melbourne-to-becoming-a-polycentric-city">population of just over 25 million people</a>.

Whilst a looming credit bubble has been appearing on the horizon for some time now, no-one could have predicted the <a href="/expert-insights/buying/opinion-is-the-impact-of-covid-19-a-repeat-of-sars-for-the-property-market">shock of a COVID-19</a> style disaster and the impact the lockdowns are having on individuals and businesses alike.

There has never been a more important time to understand the health of your finances, to position yourself to weather the economic uncertainty and ensure you’re structured in the most credit-worthy position you can be. Whether you’re looking to <a href="/guides/2019/06/17/urbans-first-home-buyer-guide">buy your first home</a>, fine tune your existing investment portfolio or position yourself to purchase your next <a href="/guides/how-to-invest-in-property-in-2020-the-ultimate-guide">investment property</a>, a financial health check with a quality finance specialist is a must.

Just like your GP assessing you at your next health check-up, there are a few main pillars a finance specialist will ensure are in place when it comes to giving you a clean bill of financial health. One of the most important is refinancing. Assessing your current debts and evaluating what options are available to your specific situation. Whether it’s taking advantage of better interest rate opportunities, or consolidating your liabilities into one monthly payment, you’ll find a good financial health check will give you the same piece of mind, the same road map to success that you many have started following for your health. 
 
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Covid-19: Health Check or Financial Health Check, Which is More Important Right Now?

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<h2>OPINION:</h2>

The Coronavirus pandemic is like <a href="/expert-insights/buying/how-will-the-coronavirus-impact-australia-s-property-market">nothing experienced before</a> on a global scale. How we respond to the outbreak and how we work together to keep informed and react to this situation is vital. For us in strata management there are unique challenges in keeping people safe who live in strata communities and for those who service our communities such as cleaners, waste collectors and maintenance staff. Knowing that people may be losing their incomes due to job losses also presents challenges in financial security of an Owners Corporation.

As an <a href="/news/taking-an-active-approach-to-strata-services">Owners Corporation Management busines</a>s, we should understand that people in strata communities are looking to their managers for leadership, professional direction and comfort, knowing they are doing all they can. We need to take our role seriously and reassess our responsibilities daily. Regular communication is important, including direct communications with owners and building managers, updates on websites and posts to social media to help provide clarity and comfort to all stakeholders.

Specific strategies which can be implemented include:

<h2>Protecting the Safety of Strata Managers</h2>

To protect the safety of strata managers, many Owners Corporation Managers have ceased personal visits to buildings and rely on their teams of cleaners and contractors to erect signs and ensure all cleaning and maintenance of common areas is carried out with increased hygiene and safety. These teams have also been relied upon to close common areas where required. Managers then need to supply a full explanation to tenants so there is no misunderstanding of the actions being taken. People who are well-informed of what is happening prevent any confusion.

<h2>COVID-19 Information Portal</h2>

A COVID-19 specific portal can be created with essential information people may be looking for with regards to their community and their own personal welfare. This portal can be updated regularly with new information as it becomes available and can be shared through social media channels. Information may include guides for committees and residents, how to run strata meetings, the changes which can be implemented into managing buildings during this time, cash flow and financial risks plus links to the various Government Assistance Packages people and businesses are able to access.

<h2>Communicating with Owners and Property Managers</h2>

Communicating directly with Owners and Property Managers through personal email should be essential. These communications may include updates on what is happening with the spread of the Coronavirus, what is happening within their strata community and actions the Owners Corporation are taking to manage and help overcome challenges that may lay ahead.

<h2>Cashflow Stress Testing</h2>

Modeling of potential scenarios ensures that responding to all possible outcomes is considered. This may be in the form of a cash flow stress test. This involves possible scenarios where levies may not be paid by up to 30% of owners. What is discretionary and non-discretionary spending and will the budget still support what is essential. Services such as carpet cleaning and window cleaning services may be considered as discretionary spending and paused through this time.

<h2>Keeping up to date with Government Directives and Advice</h2>

There are plenty of resources and information being shared by the state and federal governments daily. Keeping well informed and gaining information from reputable sources is important.

Resources include:

<ul>
<li><a href="https://www.dhhs.vic.gov.au/">Victorian Department of Health and Human Services</a></li>
	<li><a href="https://www.premier.vic.gov.au/">Premier of Victoria</a></li>
	<li><a href="https://www.health.gov.au/">Australian Government – Department of Health</a></li>
	<li><a href="https://www.pm.gov.au/">Prime Minister of Australia</a></li>
	<li><a href="https://www.servicesaustralia.gov.au/">Services Australia</a></li>
	<li><a href="https://www.business.vic.gov.au/">Business Victoria</a></li>
</ul>
<h2>Strata Community Association</h2>

There has been highly relevant information, specifically directed at the impact to the strata title industry coming from <a href="https://www.strata.community/">Strata Community Association</a> (Victoria) and Strata Community Association (National) who have both released information on a regular basis. Resources have included the following:

<ul>
<li>Community Safety Posters</li>
	<li>Building Manager Services Guidelines</li>
	<li>Victorian State of Emergency Post Update</li>
	<li>Guide for Committees</li>
	<li>Guide for Residents</li>
	<li>Communications to Residents</li>
</ul>
Finally, the most important message for all strata managers is to keep communicating. People become anxious or annoyed when they don’t know what is happening. This is an unsettling time for everyone. By keeping owners, tenants, building managers, service suppliers and other stakeholders informed, this should result in limited confusion and even some form of comfort in knowing the managers of their Owners Corporation care.
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An Owners Corporation’s response to dealing with COVID-19

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<h2>OPINION:</h2>

Recently due to the global pandemic caused by COVID-19, journalists and economists are flooding in with their own opinions about how the <a href="/expert-insights/buying/how-will-the-coronavirus-impact-australia-s-property-market">property market</a> will fall to a certain degree. 

Martin North from Digital Finance Analytics even went to the extreme in claiming that house prices will suffer between 20-30% in <a href="/developments/sydney-nsw">Sydney</a> and <a href="/developments/melbourne-vic">Melbourne</a>. 

There is still so much noise in the property market at the moment and our confidence may be shaken, despite the fact that Melbourne’s house price has just surged to the record-high values in February 2020 exemplifying a huge turnaround in a relatively short period of time.

I would like to reiterate on why I am remaining highly confident in Australia’s property market, especially on the residential market. To me, investing in property is still one of the best investments that any Australian who has the ability to do so, can make in their lifetime to secure a better off financial future. <a href="https://www.businessinsider.com.au/how-people-get-rich-paths-to-wealth-2019-9">According to Thomas Corley</a>, who has spent 5 years analysing how wealthy people accumulate wealth, he found that there are generally 4 paths to wealth which are saver-investor, top corporate senior executive, virtuoso and dreamer-entrepreneur. Among the 4 paths, saver-investor is a path that more than 80% of people can take as Australia has the world’s highest minimum wage. Saver-investor requires enormous financial discipline and long-term commitment as you need to consistently save 20% or more of your income to invest.

Personally, I have known so many people who have become financially independent through investing in property. According to the BRW Rich 200 list, which is published each year, <a href="https://www.smartcompany.com.au/industries/property/four-property-lessons-australias-richest-people/">property has consistently been the major source of wealth for Australia’s multimillionaires</a> and it’s the same all over the world. Property investment is unlike investing in any other products like shares or funds, you need to work on borrowing from banks, manage the property (or find someone to do it) after you settle, and it may requires you to manage your cash flow very well. 

However, over the long term it pays off as you will get more experienced and you will find the process of building an investment property portfolio a fun act. 

Here are the reasons that keep me confident in Australia’s property market in this unprecedented time:

<h2>1. Continuous Population Growth
</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/4reasons-1.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="281" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/4reasons-1.jpg?itok=OngVU_bD" width="580"></a>

<figcaption> </figcaption></figure>Australia has a high proportion of migrants. Our major capital cities like Melbourne, <a href="/developments/sydney-nsw">Sydney</a> and Adelaide are consistently ranked in the top 10 most liveable cities in the world. Therefore, Australia is very appealing for people around the world to consider migrating over. In the year 2018, the total net overseas migration was 237,224 people. Population growth is the most fundamental element in the property market as it is always about supply and demand when it comes to capital growth. Continuous population growth will ensure there is always demand for housing. After all, all of us need a place to stay. This will lead me to my second point which is supply.

Source: abr.gov.au

<h2>2. Sharp fall in number of dwellings
</h2>

In July 2017, the Australian government imposed a very strict and tight policy in Australia’s property market. The lending policy has been tightened so drastically in order to prevent the property market becoming bubbles like how the American did years ago. Besides that, the state government started to impose foreign stamp duty tax on all foreign investors. The government has also removed the benefits of stamp duty incentive for off-the plan properties. These changes had hit the property market very hard. New housing developments struggle to sell and get finance for construction. Many developers have put aside their projects as the foreign investors cooled off their interest to invest. Therefore the supply would be very limited in the coming years.

Source: Reserve Bank of Australia; ABS Building Approvals

<h2>3. 70% of residential market is owner occupiers
</h2>

According to ATO figures in April 2017, 91.53% of Australians do not invest in property. It has been estimated by Peter Waxman from the Department of Land Economics at Sydney’s University of Technology that the total value of all residential dwellings in Australia is about $2.5 trillion. However the owner occupiers own about 70% of these properties. Think about it, the rest of 30% of residential properties are owned by 8.47% of Australians and foreign investors. This means that the 70% home ownership is a huge advantage when things turn sour in the market. People will not simply sell their own house as it is a roof over their heads. They might sell shares, funds, but they will do whatever they can to protect their own home. The property price will not fluctuate easily like the share market does.

<h2>4. The government and banks are in this together
</h2>

No one will know the exact impact of what the COVID-19 pandemic will cause to our economy. Unemployment rates will soar, economic growth will halt, but the government will look to the housing market as an early driver of revitalising economies as we have seen that during GFC and back even in the 1980-81 recession where Bob Hawke introduced the <a href="/guides/how-to-navigate-australias-first-home-buyer-grants">first home buyer grant</a>. Unlike all previous financial crises that we have witnessed, this time the government has put in so much economic stimulus to help people and businesses to get through the tough time together. Even the banks are standing by together by allowing people to defer mortgage repayment by 6 months. This has greatly prevented many people from panic selling mode. It certainly helps people with financial hardship to be able to hold on to their property. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/4reasons-2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="411" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/4reasons-2.jpg?itok=a3hVWNmZ" width="580"></a>

<figcaption> </figcaption></figure>At this point in time it is hard to imagine the potential outcomes of this global event. However it is worth remembering that investing in property is a long term approach. The fundamentals are still there to strongly support the property market. With the support from the government through various stimulus packages, the casualties can be expected to be kept at a low level. When the pandemic is over and the economy is back up and running, it will be business as usual and the market will reward those who have kept their faith.
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4 Reasons To Have Faith in Australia’s Property Market for the long run

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In comparison to other outbreaks, for example, SARS in 2003, based on the swiftness of Government, The Reserve Bank of Australia (RBA) and the Bank’s responses; Australia and the world are in a better place to ride out COVID 19.

The <a href="/news/covid-19-how-the-world-previously-recovered-from-sars-and-whether-or-not-we-can-do-the-same-this-time-round">previous SARS</a> event caused a short term slowing in <a href="/guides/how-to-navigate-buying-property-during-the-covid-19-crisis">our property market</a>. China’s output slowed down for a few months. Its market bounced back up once the outbreak was under control and the introduction of economic stimulus.

Below is an extract from “<a href="https://repository.upenn.edu/real-estate_papers/64/">Has SARS infected the property market? Evidence from Hong Kong</a>” by Grace Wong Journal of Urban Economics 63 (2008) 74–95 (complete paper attached appendix 1)

“Several noteworthy results emerge from this analysis. A Hong Kong-wide price decrease of 1.6 percent above the preceding trend is identified after the start of the epidemic for all housing estates, as well as an additional decrease of less than 3 percent for the average SARS-affected estate, i.e., those that were publicly known to have had SARS cases or were mentioned in the newspapers  in relation  to  SARS.  The implied economic value of life, from $121,000 to just over $1 million, falls towards the lower end of the range based on studies of less extreme risks. Although the nature of the SARS risk limits the extent to which this value of life estimate can be generalized, it helps put the SARS-related price decline in perspective. Given the low implied values of life, I conclude there is no evidence for price overreaction.”

In Hong Kong during SARS, the average price decline was 1-3%  in SARS-affected estates and 1.6% for all other estates. The Australian property market had a slowing in transaction numbers. However, prices continued to increase (albeit at a slower pace) well into 2005. 
Our property prices didn’t suffer significant setbacks during the Swine Flu outbreak in 2009/2010. It stabilised, and there was little growth. However, the swine flu occurred between the Global Financial Crisis in 2008/2009 and the mining downturn 2011/2012. Other economic downturns that impacted, such as unemployment and housing activity.

With COVID 19, we are not even waiting a few months for the release of economic stimulus, and the Government is already taking action. COVID-19 may feel more ‘extreme’ due to the swiftness of the virus’s infected cases in Australia, the lockdown of many countries, requests of <a href="/guides/covid-19-how-apartment-dwellers-can-keep-themselves-safe-during-self-isolation">self-isolation</a> and cancellation of many significant events and restrictions on business operations (particularly small businesses). However, at the same time, there is an economic stimulus swiftly introduced to assist during these trying times, and there have been massive advancements in technology (compared to 2003 and 2009), that will allow many businesses to innovate their ways to do business.

The previous breakout of SARS caused a decrease of 1.6% to the Hong Kong property market, and this did not have the current Australian initiatives and factors to minimise any short-term consequences:

a.     Interest rates in Australia are low. 
b.     The current exchange rate of the Australian currency is low. 
c.     There was Immediate Government intervention with both short-term controls and $320.0 Billion of incentives. 
d.    One of Australia’s major exports is resources which continue (volumes have not been affected by demand or production) to show price increases across the board, other than lithium.

<h2>The trend of COVID 19</h2>

In the last nine days, the rate of COVID 19 infection as of the 9th April 2020 across Australia (refer graph below) has dropped across Australia and Victoria. There is a clear trend in comparison to the previous direction from early March.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/graph-1.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="338" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/graph-1.png?itok=rlN5sJGG" width="580"></a>

<figcaption> </figcaption></figure>     Australian new COVID 19 cases of infection as at 1/4/2020 across Australia sourced Australian Government

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/graph-2.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="143" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/graph-2.png?itok=xHNabjK_" width="580"></a></figure>     The ABC (Australian Broadcast Corporation) website

The previous graphs show a compelling trend that the rate of infection is dropping and most likely will continue to decline.

We have not seen the end of the COVID 19 infection rate, but the end is in sight.

In an article in the Australian Financial Review on the 7th of April, the Australian Prime Minister has already started to discuss the staged relaxation of the COVID 19 measures that they introduced.

<h2>Pent up demand, China’s recovery</h2>

China is further advanced in this COVID 19 recovery cycle. Last week there was a 5% increase in prices and activity in the top 30 tier-one cities in China. Pent up demand has been the nominated factor.

Rising land prices have the potential to drive up home prices in a market under close scrutiny by the country’s policymakers. In March, new home prices were up 4.2%, 12.2% and 11.4% year-on-year in 70 of China’s first-, second- and third-tier cities respectively, <a href="http://www.stats.gov.cn/tjsj/sjjd/201904/t20190416_1659685">according to data released</a> (link in Mandarin) by the National Bureau of Statistics (NBS) in mid-April.
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Opinion: Is the impact of COVID-19 a repeat of SARS for the property market?

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<h2>OPINION:</h2>

The <a href="/expert-insights/buying/how-will-the-coronavirus-impact-australia-s-property-market">COVID-19 crisis</a> has undoubtedly presented real estate agents around the world with never-before-seen challenges and opportunities.

The challenges are associated with managing a business with substantial ‘essential’ outgoings such as portal and data subscriptions in an environment of decreased revenue, with no endpoint or resolution currently insight.

It is an opportunity to assist our clients with advice about how to manage their real estate – whether it be their home or an investment property – to ensure they are in the best position to hold their property or sell if and when they need to.

While we as real estate agents have been adopting paperless and online transaction and communication tools or ‘proptech’, we have been unknowingly preparing for the current situation created by the COVID-19 crisis.

<a href="/guides">Virtual open homes</a> allow buyers or lessees to walk through a property no matter where they are located or what sort of device they have – laptop, desktop, mobile phone or tablet. It means that overseas or interstate buyers can <a href="/guides/home-inspection-checklist-step-by-step">inspect both Off the Plan</a> and live listings with a 360-degree view of each room and the garden.

This assists us as agents before we arrange to conduct a private inspection which complies with the health and safety guidelines. Vendors are assured that buyers are being kept interested in their property listing.

In essence, we are educating both vendors and buyers to embrace the online environment, managing the sale process from appraisal through to listing, online auction, and contract to sign through digital enterprise and communication software.

We are reshaping desire and in doing so, inviting a global audience into an on-line agency.

A buyer located anywhere on the planet with an internet connection can now find, inspect and transact on a property securely and completely online. Brand awareness grows and quality marketing becomes of utmost importance, as does the security of the transaction.

The outcome of the COVID-19 lockdown means that tools such as social media and DocuSign will play a greater role in our day to day business. In fact, the speed and security of transmission of signed contract documents compared to hand delivery and snail mail will assure the future recognition and adoption of tools such as DocuSign.

Online timed auctions and live-streamed auctions are also likely to remain a standard part of the sales landscape.

The fact that the major real estate sales portal subscriptions are so expensive by comparison with social media advertising suggests that agents and vendors will stick with this mode of marketing long after the crisis has passed.

The focus on the agent as an individual providing a personal service, which really underpins an agent’s success no matter where they are located or which agency they are with, is another reason social media channels such as Facebook will continue to grow as an advertising medium. 

The cost-effectiveness of social media also means that agents are able to provide better value for the vendor’s advertising dollar. Agents are delivering a personalised recommendation for a property through a convenient and cost-effective medium. It’s a win for the seller, the agent and the buyer and a great return on investment.

As an agent with a prestige property agency, my focus has been on providing advice and guidance to property owners, particularly focussing on preparing properties for sale ‘ post-COVID-19”. 

Agents are providing up-to-the-minute advice to both landlords and renters, buyers and sellers, about working within the restrictions in place in each state. As part of a highly skilled professional team, the focus is on taking the stress out of these constantly evolving and challenging times while ensuring the process of buying, selling, leasing or renting a home can continue.

At the end of the day, people need a roof over their heads. Shelter is an essential requirement for every person on earth. A professional agent’s approach ensures superior property marketing and quality service continues whilst adhering to all relevant health and safety regulations. The COVID-19 crisis means people are more online than ever before, and becoming more familiar with technology, communication software, and social media.

It’s a great opportunity as a local real estate agent to let your commitment to personal service and your local community to shine through.

We as agents have the opportunity to demonstrate that we can create value for our clients and communicate that <a href="/guides/how-to-navigate-buying-property-during-the-covid-19-crisis">value to buyers</a>. We can be the trusted advisor in their hour of need, and ‘on the other side’ demonstrate to our clients and the general public, that we can be an integral part of the economic engine room that will need to fire up to get Australia going again.

We can all embrace online property enterprise and re-shape real estate desire 2020 style.
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How are real estate agents assisting during the COVID-19 crisis?

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<h2>OPINION:</h2>

This is a call for government, business and landlords to action new and creative measures to help small businesses get back on their feet again in late 2020 and beyond.

As an urban planner I am motivated by the opportunity to help create and manage successful cities, towns and communities. 

Australia's cities and towns are currently facing social and economic threats that have never been experienced before in the lifetime of its citizens.

Urban planners have a critical role to play in not only immediately responding to the <a href="/expert-insights/buying/how-will-the-coronavirus-impact-australia-s-property-market">COVID 19 crisis</a> but we also must have plans for contributing to the rebuild of our economy once the immediate threat passes.

An immediate focus must remain on supporting the continuity of construction activity - pushing on with planning approvals, getting rid of red tape and fast-tracking applications where necessary to ensure a <a href="/developments">development-ready</a> pipeline of projects and the many jobs they create.

But we must also work on solutions now that can be deployed once the current lockdown requirements are lifted. This is likely to only be a matter of months away.

This article proposes some ideas to help the sectors that have been hit the hardest so far - retail, hospitality, tourism, the creative industries and arts, entertainment, recreation and many types of service industries.

These are enterprises who have had their revenues disappear in an instant, and the demand for these services will take time to build up again. Demand is likely to gradually re-emerge over maybe a 6-18-month period.

It will be a fragile time –the public will be wary about how they spend their time and money, and they will take a while to become comfortable with <a href="/guides/covid-19-is-it-possible-to-practise-social-distancing-at-home-absolutely">socialising </a>in the wider community again.

A mix of re-emerging, re-imagined, and new businesses will step forward to meet this demand.

These businesses will need to operate as start-ups <a href="/guides/covid-19-how-to-adapt-to-working-from-home">working off lean resources</a> for potentially extended periods. Many won’t have great access to capital or an established customer base, and many will be building (or rebuilding) their company/product brand. 

But what they will have is a burning desire to succeed, a willingness to try new ideas, form partnerships and work hard, all on the smell of an oily rag.

<h2>So, what can urban planners do to help in this rebuilding process?</h2>

It is likely that there will be many vacant shops, cafes, restaurants, bars, offices and warehouses across our suburbs at the end of the lockdown phase. Landlords will be keen to get tenants back into these spaces as soon as possible, but there will be few tenants that will be able to take on the rent costs that existed in the pre-COVID 19 phase.

New businesses and those in a rebuilding phase alike will also be reluctant to take on rigid rent terms, particularly long leases. Even businesses that trade through the current period and negotiate the suspension of rent payments will be faced with significant debts that will affect their ongoing ability to trade once the grace period ends.

In this environment, the opportunity exists for planners, businesses, and landlords to work together on a '<a href="https://leanurbanism.org/">lean urbanism</a>' model for supporting new and re-emerging businesses to get going again. 

What I am proposing is that in designated locations, the State government, local councils and business associations work with landlords and businesses who are re-starting (or starting-up) to revitalise places suffering from (or at risk of) high vacancy.

This program would enable businesses to make low-risk and low-cost transitions from new and possibly interim operations into more sustainable and permanent arrangements during the recovery phase.  

The program would see urban planners, property owners and business associations band together to reimagine our suburban strip centres and industrial areas as places for the incubation and growth of new businesses. 

Such places can be designated as ‘enterprise zones’, experimental and opportunistic areas where start-ups can simply turn up and try new ideas in popup and temporary spaces, where they are supported by landlords and government to get up and running again.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/post_covid-19-2.jpg" rel="gallery-all" title="post covid-19-2"><img alt="" class="image-article-full-width-580px" height="339" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/post_covid-19-2.jpg?itok=_EdJJ35M" title="post covid-19-2" width="580"></a>

<figcaption>[Image Credit: www.millcastlemaine.com.au]</figcaption></figure>Whilst these ideas could potentially be applied to any business operating anywhere, there are particular benefits to be gained in concentrating the initial efforts on creating local business clusters, where a shared amenity and collective identity can be created, and where marketing, programming, and business development efforts can be shared.

The clustering of complementary types of businesses together can have a powerful effect on drawing customers and rebuilding the social and commercial value of such places.

Local business associations would market and curate such places with events, activities, and promotions, providing a level of activation that supports business and provides opportunities for the community to re-engage with the outside world. 

Landlords would participate by agreeing to license space for start-ups on a low cost and temporary basis. Incentives such as reduced land tax, municipal rates or other COVID 19-related recovery funding could be offered to landlords who agree to participate in the program.

All landlords know it’s easier to find a long-term commercial tenant when you’ve got an occupied, well-presented site in a location with strong branding and footfall. Several progressive commercial property developers are already providing below-market-rate rents to amenity enhancing smaller tenants as they see the value these tenants bring in attracting larger anchor tenants down the line.

The small businesses themselves would provide sweat equity in fitting out spaces, as well as working together to create a definable character and identity for their business precinct. 

<h2>It has been done before, so it can be done again.</h2>

There are precedents for this approach that we can draw from. 

Similar strategies were deployed in <a href="https://en.wikipedia.org/wiki/Re:START">Christchurch</a> after the earthquake, and in New Orleans after Hurricane Katrina. 

<a href="https://www.popbrixton.org/about/">Pop Brixton</a> in the United Kingdom is another successful example of a temporary project that has disused places into an event venue and a community of independent retailers, restaurants, street food start-ups, and social enterprises. With over 30 enterprises on-site (including 17 restaurants and cafes) it is huge population local destination in London.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/post_covid-19-3.jpg" rel="gallery-all" title="post covid-19-3"><img alt="" class="image-article-full-width-580px" height="327" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/post_covid-19-3.jpg?itok=7jRw5Cqj" title="post covid-19-3" width="580"></a>

<figcaption> </figcaption></figure><a href="https://www.holzmarkt.com/">Holzmarkt</a> in Berlin is another such example, where the community has worked with the government and the private sector to create a vibrant, self-built space for business, arts, and culture.

Locally the success of <a href="https://renewnewcastle.org/">Renew Newcastle</a> provides a homegrown example of how destitute shopping strips can be transformed by creative thinking and adaptable agreements between landlords and local enterprises.

The role of the urban planner in all of this is to work with landowners and businesses to agree on a place-based plan for these activities and to remove the red tape by allowing businesses to turn up and start trading. It will also be necessary to remove or streamline various other forms of regulation relating to things like outdoor dining, liquor licensing and building regulations.

Urban planners within local government are perfectly positioned to take a lead role in coordinating the government input to such a program.

We can learn from the experiences of places like the City of Detroit in the use of lean urbanism. It has adopted an innovative ‘<a href="https://detroitmi.gov/departments/planning-and-development-department/zoning-innovation-and-historic-preservation/mix-tape-zoning">Mix Tape</a>’ planning ordinance to facilitate the revitalisation of 36 miles of commercial corridors across its municipality. This new ordinance allows for a wide mix of ‘as of right’ uses, and it eases parking requirements, and it sets a series of simple minimum design standards. It is accompanied by targeted streetscape improvements and the removal of other types of business regulation.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/post_covid-19-4.jpg" rel="gallery-all" title="post covid-19-4"><img alt="" class="image-article-full-width-580px" height="353" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/post_covid-19-4.jpg?itok=suEw2cPr" title="post covid-19-4" width="580"></a>

<figcaption> </figcaption></figure>We already have this type of tool available in Victoria - the <a href="https://www.planning.vic.gov.au/__data/assets/pdf_file/0021/391152/PPN85-Applying_the_Commercial_3_Zone-v3.pdf">Commercial 3 zone</a> was specifically developed with a nimbler, lower-barrier economy in mind.  

Whilst implementing this zone would be an outcome worthy of pursuing many locations, we need not wait for this to happen. Instead, we can trial new ideas via the temporary use of space, and/or by suspending certain planning and other regulations in designated locations. 

In the short term, it would be possible to make progress by designating places in Melbourne where uses are allowed to just start happening on an interim basis. Just like we allow markets and events as temporary uses, we could allow a range of other commercial activities to occur on an interim basis. 

The Queensland Government has already initiated legislative reforms along these lines in response to COVID 19, by creating <a href="https://www.statedevelopment.qld.gov.au/planning/planning-legislation-amendment">temporary use licenses</a> for certain types of businesses.

Sorting out the ultimate zoning and regulatory arrangements can be a job for another day.

It would even be possible (if there was enough will amongst regulators) to allow spaces to be temporarily used as live and work-spaces – so that the cost of living and working for start-ups was kept as low as possible. 

Of course, certain minimum standards relating to amenities, health, and human safety would have to be adhered to, but it would be possible to suspend the need for a change of use permits and many other types of approvals on the basis that the uses were temporary in nature.

<h2>Time for new ‘Neighbourhood Deals’ ?</h2>

In the great depression of the 1920s US President Franklin D. Roosevelt initiated the ‘New Deal’ – a series of programs, public work projects, financial reforms, and regulations aimed at getting that nation back on its feet.

In Australia today, the various State and Federal Government reforms are already taking on a similar character and magnitude to Roosevelt’s original New Deal. There will be more national and state-led recovery programs to follow in the coming months.

We can add to this effort at the local level by creating ‘Neighbourhood Deals’ between government and landowners whereby neighbourhoods are designated as special enterprise zones where the priority is to support and nurture start-up business activity. The Deal would be that the Government would agree to eliminate red tape and invest in local amenity and placemaking activities, and landowners would agree to make space available to re-emerging and start-up businesses on low-cost and flexible terms.

All signatories to the Neighbourhood Deal would sign on to the principle that decisions will be made that are in the best interests of growing local businesses ahead of other things.

These neighbourhoods would function for a time as temporary urban incubators of new enterprises, and after a period of re-establishment those enterprises that prove to be viable would transition into ongoing commercial leases, and the city would work with them to ensure that the necessary permits and licenses were put in place. 

Buildings could then be upgraded in a more substantial manner, backed by business banking loans and potentially government stimulus programs.

There is a pandora's box of complexity to be unpacked with an initiative like this. But recent events have shown that if there is a need and a will, there is a way. A crisis can provide clarity and promote creative ways in challenging old problems.

If we want to trial the idea of establishing this type of lean and nimble approach to supporting the recovery and growth of enterprise in Australia, then we need to start working out the details right now. 
</body></html>

Post covid-19: we need to bend the rules and create ‘new deals’ for small businesses

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Melvie

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