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The Port Douglas trophy estate Cottonwood, built on a 4.75 acres, is listed for sale at $7.95 million.
Cottonwood, located 10 minutes from Port Douglas, was remodelled in 2010 and features a split level homestead with three bedrooms, an open plan living area with verandah and a guest house. 
The guest house has two king sized bedrooms with ensuite. The property features a swimming pool with timber decking and a shed complete with amphibious boat.
Sellers Jane and David Lucas currently reside in Nelson, New Zealand and are selling Cottonwood and another Port Douglas home on Island Point Road to fund the restoration of a London manor. The purchased Cottonwood in 2009 from the family of a cane farmer who purchased the land in the 1940s.
The couple also own undeveloped land in nearby Four Mile Beach with DA approval to build  seven residential beach front blocks and a gated community as well as a second block zoned for a resort.
The estate is listed for sale with <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/8419882" target="_blank">Barbara Wolveridge of Raine &amp; Horne Port Douglas</a> and marketed by Lynn Malone.
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Port Douglas trophy home Cottonwood listed

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Champion jockey Damien Oliver has listed his home in Port Melbourne’s Beacon Cove precinct.
The three-time Melbourne Cup winner bought the abode at <a href="https://www.realestateview.com.au/Real-Estate/98-beach-street-port-melbourne/Property-Details-buy-residential-9260802" target="_blank">98 Beach Street </a>at 1997 auction as Mirvac began constructing the now well-established village. It cost $540,500.
Oliver’s three-bedroom plus study is tipped to fetch more than $1.8 million through Marshall White agent Michael Paproth at August 22 auction.
The two storey offering includes an indoor sauna and spa room, perfect for Oliver who last week won his 10th Melbourne Jockeys’ Premiership with 60 winners.
His backyard includes another spa and a putting green.
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Jockey Damien Oliver lists Beacon Cove home

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The week's top reported sale is a Hastings Parade, North Bondi, house, according to CoreLogic RP Data.
The four-bedroom house sold on July 29 through Raine &amp; Horne Double Bay for $3.9 million. It had been on and off the market since 2009, often with $4.7 million price expectations. Earlier this year it had reduced $4 million hopes.
"It is one of the last original freestanding homes left in Blue Chip Ben Buckler," <a href="https://www.realestateview.com.au/Real-Estate/148-hastings-parade-north-bondi/Property-Details-buy-residential-8900842" target="_blank">agent David Hannagan said</a>.
"This freestanding tri-level beach house is situated in one of the most prestigious streets of North Bondi, with the beachfront practically at its doorstep." 
The top 10 
148 Hastings Parade, North Bondi, NSW, 2026, four-bedroom house, sold on July 29 by Raine &amp; Horne Double Bay for $3.9 million
29 Miramont Avenue, Riverview, NSW, 2066, five-bedroom house, sold on July 29 by McGrath Estate Agents for $3.6 million
1/46 Drummoyne Avenue, Drummoyne, NSW, 2047, four-bedroom unit, sold on July 31 by Ward Partners for $3.57 million
30 Craik Avenue, Austral, NSW, 2179, six-bedroom house, sold at auction on August 1 by Grandland Real Estate Edmondson Park for $3.23 million
1/9 George Street, Dover Heights, NSW, 2030, three-bedroom house, sold at auction on July 29 by Phillips Pantzer Donnelley for $3.21 million
225 Belmore Road, Balwyn North, VIC, 3104, four-bedroom house, sold on August 1 by L J Hooker Box Hill for $3.2 million
75 Pacific Road, Palm Beach, NSW, 2108, four-bedroom house, sold on August 28 by Raine &amp; Horne Palm Beach for $3.15 million
37 Hannan Street, Maroubra, NSW, 2035, seven-bedroom house, sold at auction on August 1 by N G Farah Real Estate Kingsford for $3.06 million
16 Burgoyne Street, Gordon, NSW, 2072, six-bedroom house, sold at auction on August 1 by Ray White Gordon/St Ives for $3.02 million
4 Cevu Avenue, Willoughby, NSW, 2068, four-bedroom house, sold at auction on August 1 by Forsyth Real Estate Willoughby for $2.91 million
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After four failed auctions, North Bondi home tops CoreLogic RP Data's top sale

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Another piece of design work by Melbourne's most celebrated mid-century architect, Robin Boyd, goes to weekend auction.
Overlooking the Royal Botanic Gardens, apartment 10.2 is <a href="https://www.realestateview.com.au/Real-Estate/10-2-193-domain-road-south-yarra/Property-Details-buy-residential-9170316" target="_blank">a three bedroom, two bathroom apartment</a> in the Domain Park block, coming with $2 million plus hopes.
Last month <a href="https://www.realestateview.com.au/Real-Estate/6-1-193-domain-road-south-yarra/Property-Details-sold-residential-9077698" target="_blank">a three bedroom, one bathroom</a> at 6.1 fetched $1.75 million through Marshall White. It was a well-preserved time-capsule with the original fixtures remaining. It passed-in to a mature couple at $1.525 million and later sold to them for $1.75 million.
Melbourne buyers advocate Richard Wakelin, who attended the auction for clients, noted the Domain Road apartment block, "took high-rise living much higher than the usual three-storeys in 1962."
Kay &amp; Burton is marketing the August 8 Robin Boyd-designed apartment auction offering, located in what was Melbourne's tallest residential tower on its 1962 completion.
The 20-level tower is divided into two wings, with separate lifts.
"The 10.2 interior reflects the forward-thinking modernist vision of Robin Boyd and invites a straight-forward opportunity for renovation to create a truly spectacular living environment," agent Mark Mckenzie suggests.
Last October $1,515,000 was paid for the <a href="https://www.realestate.com.au/property-apartment-vic-south+yarra-117871059" target="_blank">4.3/193 Domain Road</a> offering.
It was a two bedroom, one bathroom apartment in the Domain Park block.
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Robin Boyd, Domain Park South Yarra offering

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Sydney's recent expensive property sales have helped the city climb to the third place on Knight Frank's latest Prime Global Cities Index, with recent price growth pushing Sydney up from 10th spot in the prior quarter.
The global index tracks luxury residential price movements across 35 cities worldwide. Vancouver and Miami are leading global growth in prime urban residential prices.
Knight Frank's latest second quarter index also shows Melbourne ranked in 7th place in the world with its recent price growth in luxury residential properties, seeing it jump up from 11th place. 
<a href="/images/2015/08/05/Screen%20Shot%202015-08-05%20at%208.02.50%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/05/Screen%20Shot%202015-08-05%20at%208.02.50%20AM.png" alt=""> 
While Australia's 10.2% growth was the highest average annual increase in luxury residential asset values to June 2015, much of Asia is close behind having dominated price increases since the global financial crisis aftermath in 2008 and 2009.
Jakarta has had a 174% increase in value since the GFC, while Beijing and Shanghai are up 77% and 65% respectively.
Since the crisis, Sydney grew 27% and Melbourne 23%.
<a href="/images/2015/08/05/Screen%20Shot%202015-08-05%20at%208.03.00%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/05/Screen%20Shot%202015-08-05%20at%208.03.00%20AM.png" alt="">
The Knight Frank Prime Global Cities Index increased globally by 2.5 per cent in the year to June 2015 across the 35 prime cities monitored.
The top performers were the cities of Vancouver, Miami and Sydney increasing by 15%, 14% and 13% respectively in the year to June 2015.
Asian cities, with the exception of Singapore and Mainland China, are rising up the rankings with seven of the top ten cities now based in the Asia Pacific region.
In the report, a breakdown by world region shows Australasia on top recording average growth of 10.2% over the 12-month period, followed by Africa at 4.1%; with Europe breaking positive territory with 0.8% growth.
“Across the globe, luxury residential values have been rising for 22 consecutive quarters, but the pace of growth has almost halved in the last year with annual growth falling from 5.2% to 2.5%," according to Knight Frank’s director of residential research for Australia, Michelle Ciesielski. 
“However, Sydney prime residential property has experienced an upward trajectory with growth of 160 bps to 12.5% in the year to June 2015, with 5.8% recorded in the last three months alone.
“Second quarter growth of 2.8% for Melbourne prime saw the world’s most liveable city witness growth of 7.9% over the year; despite down 70 bps when compared to the first quarter’s annual growth.
“Knight Frank Residential Research has closely monitored those markets that have recovered best post-GFC.
"Cities demonstrating the strongest growth in prime property values have included Jakarta, Beijing and Shanghai at 175%, 77% and 65%.
“We’ve taken longer to recover than global counterparts in our prime residential markets as over this time, prime property values in Sydney grew a total 28%, whilst the Melbourne prime market values are up 24%."
<a href="/images/2015/08/05/Screen%20Shot%202015-08-05%20at%208.09.34%20AM.png" target="_blank"> Click to enlarge</a>
<img src="/images/2015/08/05/Screen%20Shot%202015-08-05%20at%208.09.34%20AM.png" alt="">
 
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Sydney prestige trophy homes rise into 3rd place: Knight Frank prime global cities index

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Dixon Advisory Group Limited has paid off two ASIC infringement notices at $10,200 apiece for publishing potentially misleading claims regarding self-managed super funds on its website.
ASIC had concerns a web page and video dd not correctly portray the costs and performance of SMSFs when compared to retail and industry super funds.
ASIC Deputy Chair Peter Kell said any comparisons between SMSFs and industry and retail funds, particularly regarding performance or fees, must be accurate and have a reasonable basis, and that any qualification should be apparent to a consumer when they first see the information.
"ASIC is determined that all consumers including those considering a self-managed approach to their super get accurate information, and are not misled by any form of advertising, including online and through social media," Mr Kell said..
Dixon Advisory's website and social media accounts featured a promotional video making claims relating to an independent review of the superannuating system, according to ASIC.
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Dixon Advisory Group pays ASIC infringement notices on SMSF claims

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Governor of the Reserve Bank, Glenn Stevens August 2015 statement.
At its meeting today, the Board decided to leave the cash rate unchanged at 2.0 per cent.
The global economy is expanding at a moderate pace, but some key commodity prices are much lower than a year ago. Much of this trend appears to reflect increased supply, including from Australia. Australia's terms of trade are falling nonetheless.
The Federal Reserve is expected to start increasing its policy rate later this year, but some other major central banks are continuing to ease policy. Hence, global financial conditions remain very accommodative. Despite fluctuations in markets associated with the respective developments in China and Greece, long-term borrowing rates for most sovereigns and creditworthy private borrowers remain remarkably low.
In Australia, the available information suggests that the economy has continued to grow. While the rate of growth has been somewhat below longer-term averages, it has been associated with somewhat stronger growth of employment and a steady rate of unemployment over the past year. Overall, the economy is likely to be operating with a degree of spare capacity for some time yet. Recent information confirms that domestic inflationary pressures have been contained. That should remain the case for some time, given the very slow growth in labour costs. Inflation is thus forecast to remain consistent with the target over the next one to two years, even with a lower exchange rate.
In such circumstances, monetary policy needs to be accommodative. Low interest rates are acting to support borrowing and spending. Credit is recording moderate growth overall, with growth in lending to the housing market broadly steady over recent months. Dwelling prices continue to rise strongly in Sydney, though trends have been more varied in a number of other cities. The Bank is working with other regulators to assess and contain risks that may arise from the housing market. In other asset markets, prices for equities and commercial property have been supported by lower long-term interest rates. The Australian dollar is adjusting to the significant declines in key commodity prices.
The Board today judged that leaving the cash rate unchanged was appropriate at this meeting. Further information on economic and financial conditions to be received over the period ahead will inform the Board's ongoing assessment of the outlook and hence whether the current stance of policy will most effectively foster sustainable growth and inflation consistent with the target.
 
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Sydney property rising strongly: RBA Governor Glenn Stevens' August 2015 statement

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GUEST OBSERVER
In the fallout of the 2008 global financial crisis, the financial media were criticised for failing to fulfil a watchdog role, for boosting the global asset boom that contributed to the crisis, and for exacerbating the crisis when it happened.
Among the strongest accusations was that financial journalists had been captured by the small coterie of elite sources they used for information, and by a newsroom culture that favoured free markets and encouraged a pro-business attitude.
The corollary of this was that perceived doomsayers and others providing alternative viewpoints and warnings were left out of the debate. While people have called out these trends, there has been little hard evidence measuring the extent of the problem.
<h2>A captured sector</h2>
As economic policies have favoured deregulation and minimal regulation of financial markets, they have encouraged a process known as financialisation, which prioritises the finance industry and related interests at the expense of all others. The general public has been actively encouraged to become players in the finance marketplace, either directly or indirectly through loans, credit cards and savings.
Yet, while this has been happening, the public’s financial knowledge has not kept pace. Nor has the mainstream financial press concerned itself with the task of increasing general financial literacy. In fact studies suggest the trend is in the opposite direction, catering even more exclusively for finance insiders.
In the US, for instance, Columbia Journalism Review blogger Dean Starkman notes the predominance of what he calls “access reporting” – providing information to investors and corporate elites – over “accountability reporting”, which investigates corporate misdeeds and developing trends.
In Australia, <a href="https://www.tandfonline.com/doi/abs/10.1080/10361146.2014.963025?journalCode=cajp20" target="_blank">a study by Melbourne University academic Andrea Carson</a> has shown that while there has been an increase in press investigations overall, there has been a decline in investigations that deal with big companies.
Is financial news addressing the public interest, or the interests of the financial elites? Are there observable trends over the years?
<h2>The evidence</h2>
To answer these questions we conducted a comparative and longitudinal study of mainstream financial journalism in three countries during three periods of economic crisis. We looked at the coverage of the New York Times in the US, the Guardian in the UK, and the Sydney Morning Herald in Australia during: the 1990 recession, the Dot Com boom of 2000 and the global financial crisis (GFC) of 2007-8.
We analysed the number of articles that provided warning and discussion about an impending downturn in the two years before each crisis, the sources that framed the discussion, and the kinds of topics and narratives that shaped the coverage pre- and post-crisis.
Our results back up concerns that financial journalism standards have been falling.
There has been a narrowing of the range of sources used to explain events, with public relations more and more predominant. There is less context and critique and little or no warning given to the public of problems that may be looming. These tendencies worsened from case study to case study.
Of the 1990 recession data set, 60% of the coverage appeared before the recession was officially called and the discussion was broad, with a lively debate about the implications of the deregulation of the finance industry. In the two years before the bursting of the Dot Com bubble, 20% of the data set discussed various features of the boom and contemplated the possibility of a potential bust. But by the time of the global financial crisis only 8% of articles in the data set appeared before August 2007, at which time coverage suddenly explodes.
Also, by the time of the Dot Com boom and GFC the range of topics that defined and framed each crisis had narrowed, dominated now by two master narratives. First, the “new economy” idea pushed the concept of the end of financial booms and busts – something that was not completely disproved until the GFC. The GFC is shaped by the narrative of a natural disaster, which spreads like a disease from the US.
The research also found a difference in approach between financial and economics journalists, with the latter providing the most warnings, more breadth and explanations of trends.
<h2>Part of a bigger crisis</h2>
The crisis in financial journalism is but one dimension of the crisis in professional journalism generally. The traditional business model for news is under threat from reduced revenues, while the 24/7 production process directly impacts the quality of reportage. Conflicts of interest between business and media further impede the capacity and desire for critique that may damage the free market. All the evidence suggests that news quality has taken a hit and it is the general public that suffers.
Without financial journalism providing the context and critique required to understand the complexities of the financial environment, we must explore new opportunities for fair and fearless scrutiny of a sector which now impacts everyone.
Sophie Knowles is unit leader in lournalism at University of the Arts London and can be contacted <a href="https://theconversation.com/profiles/sophie-knowles-180608" target="_blank" style="line-height: 1.3em;">here</a>.
Gail Phillips is emerita associate professor at Murdoch University and can be contacted <a href="https://theconversation.com/profiles/gail-phillips-181103" target="_blank">here</a>.
Johan Lidberg is senior lecturer, School of Media, Film and Journalism at Monash University and can be contacted <a href="https://theconversation.com/profiles/johan-lidberg-7473" target="_blank">here</a>.
All are authors for The Conversation.
The paper “Reporting the Global Financial Crisis: A Longitudinal Tri-nation Study of Mainstream Financial Journalism” will be published by Journalism Studies in August 2015.
 
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Increasingly, we can’t trust journalists to decipher finance

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GUEST OBSERVER
Australian department store retailers David Jones and Myer have both recently moved to rationalise the number of clothing brands they offer in their stores.
This strategy brings two common retail sayings to mind. First “to win in retail, you can’t be everything to everyone”, and second, “if you’re not growing, you’re going backwards”.
<h2>In retail, you can’t be everything to everyone</h2>
“It is high time we retailers realised that we cannot be all things to all people. When we try to do that, we end up with no particular appeal for anybody.”– Martineau, Pierre “The personality of the retail store” (1958).
These sentiments have never been more pertinent than in today’s retail environment where competition is fierce to secure market share and squeeze what little growth is left out of mature fashion apparel markets.
Maturity is forcing retailers to take one of two routes to compete for share of customers’ wallets: competing on price, or competing on superior benefits that are highly attractive to specific customers. While price is still an important part of the retail mix for upmarket department stores such as DJs, for the most part these retailers have left this price war to the discount end of the market – Kmart and Big W. Taking the second route to compete – provision of unique benefit to customers – requires retailers to make choices after defining their target customer.
Taking a walk through either a DJs or Myer store just five years ago would have given one the sense that these were “upmarket” retailers with a premium image and expensive brands to boot. Defining exactly who they were targeting, however, would have proved more difficult. With store floors cluttered with an eclectic range of brands and own label clothing, it would seem that they were targeting anyone who could shop in their stores and were prepared to pay the prices.
The entrance of savvy global retailers into the Australian apparel market, such as H&amp;M and Woolworths SA, combined with shifting expectations of customers has changed the clothing retailing game. Searching for growth in a crowded market is forcing retailers like DJs and Myer to carve up the market into different consumer segments, and target a few specific segments with their offers. As Daniel Bracken, Myer’s chief merchandising and marketing officer, says<a href="https://m.theage.com.au/business/retail/myer-clears-out-private-labels-as-part-of-brand-cull-20150729-gimzin">:</a>
“We have a very clear focus on who the most valuable customer is to our business and that’s what is driving us to put these new brands in our business.”
Identifying and targeting attractive customer segments in the market requires a deep understanding of who they are, where and why they shop; and strategic shifts in the retail offer.
The recent reductions in the ranges offered at Myer and DJs – around 100 and 180 brands from their respective brand portfolios, shows they are in the midst of significant transformation. This means shifting from a store for everyone (my store, Myer) to a focus on specific customer segments. Undoubtedly these retail transformations are focused on growth.
<h2>In retail, if you’re not growing, you’re going backwards</h2>
A key metric that clothing retailers live and die by is gross margin return on investment – GMROI. That is, how many gross margin dollars are earned on every dollar of inventory investment.
There are two ways to grow GMROI in retail: (1) increase sales to the customer; and (2) decrease internal/inventory costs. In reducing their ranges and moving to increase the floor space dedicated to targeted branded and own label ranges, retailers DJs and Myer are seeking to improve ROI from both directions.
If implemented well, these range reductions will also benefit shoppers. For instance, fewer brands on the shop floor reduces clutter and increases the visibility of the brands that are ranged, making it easier to shop. Fewer brands on the shop floor should also lead to reduced out-of-stocks – which is a top source of dissatisfaction for customers and a key reason to take their wallet to another retailer, permanently.
So what does this mean for small, local apparel brands? Undoubtedly the range rationalisations in DJs and Myer will impact wholesalers and small local labels that relied on these retailers stock and sell their offers. Increasingly, however, we are seeing branded manufacturers bypassing the big-box retailers and forging their own retail channels direct to their target customer through online stores, funky pop-ups and concept stores – such as the Bendigo-based family owned boutique furniture manufacturer Jimmy Possum. Unlike the grocery scenario in Australia, customers have power in this market and are prepared to shop in alternative channels for their clothing.
<h2>The vanilla-fication of clothing retail?</h2>
Is the brand rationalisation being played out on the store floors of Myer and DJs just the start of the “vanilla-fication” of clothing retail in the Australian market? Are we seeing a homogenisation and shift towards “blandsville” in the name of corporate profit growth and margin? Not likely.
What is more likely is that we are going to see smarter, tighter, and more targeted ranges of own label and supplier brands that reinforce the image of the retailer and resonate with their ideal customer.
Rather than banking the profit gains from these tighter ranges, expect to see DJs and Myer reinvesting these gains into tailoring the store environment to the target customer and delivering genuine, seamless omni-channel experiences across all retail channels – online, mobile, in store – to build a competitive edge.
The range reductions on the shop floor in DJs and Myer may herald a shakeup in the local market to a more exciting and innovative space, with local brands moving out from the shadows of the big-box department stores and establishing their own innovative routes to the customer – such as digital and pop-up, using their size and agility to carve out their own space.
Michal Carrington is lecturer in marketing at University of Melbourne and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/michal-carrington-181837" target="_blank">here.</a>
 
 
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Welcome to blandsville? Myer and David Jones embrace grocery-style streamlining

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GUEST OBSERVER
Between 2001 and 2010 roughly 1.7 million Australians dropped out of home ownership and shifted back to renting.
More than one-third did not return by 2010. These statistics, from the Household, Income and Labour Dynamics in Australia (HILDA) survey, reflect increasingly insecure jobs, the prevalence of marital breakdown and lone person households, widening income inequalities and the high levels of debt accompanying spiralling real house prices.
Rather than climbing a ladder of housing opportunity that heads in an upward direction only, a growing number of Australians are precariously positioned on the edges of home ownership. We can think of the edges of ownership as a permeable, contested border zone between owning and renting, where households juggle their savings, spending and debt as they attempt to retain a foothold on the housing ladder.
And according to <a href="https://www.ahuri.edu.au/publications/download/ahuri_53011_fr" target="_blank">new research comparing Australia with the UK</a>, policy settings play an important role in determining who can and can’t manage to stay in the home ownership game.
The research used three panel surveys – the HILDA survey, the British Household Panel Survey (BHPS) and its successor Understanding Society. We tracked the ownership experience of 1,907 Australian and 674 British individuals that began periods of home ownership between 2002 and 2010 (a period that covers the enormous disruption caused by the global financial crisis). In each year we have recorded their tenure status.
The figure below shows the proportion of people exiting ownership year on year as a spell of ownership lengthens (the maximum spell length in this study being 8 years). For example, 8% of those Australians that had managed to sustain three consecutive years of ownership shifted into the rental sector in the following year. In contrast, 6% of British home owners transitioned into rental housing after three successive years of ownership.
Despite the turbulent British housing market conditions, and a more serious economic recession following the global financial crisis, Australians’ experiences of home ownership appear more precarious. In fact, in all but one year the exit rate is higher in Australia. For a randomly selected Australian moving into home ownership between 2002 and 2010 the chances of “surviving” as a home owner beyond seven years are only 59%. The chances of “survival” are somewhat higher at 68% in the UK. The edges of ownership appear more permeable in Australia.
Exit rate Australia and UK, 2002–2010
<a href="/images/2015/08/04/image-20150729-30879-1ypzan4.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/04/image-20150729-30879-1ypzan4.png" alt="">
 
For a minority of individuals in the surveys, <a href="https://www.ahuri.edu.au/publications/download/ahuri_53011_fr" target="_blank">labour market mobility</a> might be a factor encouraging a temporary shift out of ownership, as people relocate to take advantage of job opportunities. However, it is clear from the data that the majority of moves out of home ownership are related to financial stress. For example, 15% of those Australians leaving home ownership reported difficulties in paying utility bills in one or more years before exit, while only 7% of those with enduring ownership spells reported such difficulties. 9% of departing Australians fell behind on their mortgages, but only 2% of those with enduring ownership spells testified to such difficulties. Similar patterns are revealed in the British data.
This is no surprise. What is striking is that financial stress is more likely to cause a loss of home ownership status in Australia than it is in Britain - a puzzling feature of the findings which cannot be explained by differences in the personal characteristics of Australian and British members of the panels. If, for instance, ownership reached further down the Australian income distribution we might expect more insecure housing experiences among Australian home buyers. But controlling for these possible differences does not explain our results. 
<h2>Why is Australia different?</h2>
There are instead signals in the data which suggest institutional differences across the two countries are at play. There are two factors that could disproportionately draw marginal Australian owners into the rented sector, while propping up the ownership ideals of their British counterparts.
First, and most obviously, the rental sectors of the two countries are quite different, and appear to have a different function at the edges of ownership. The higher likelihood of exit from ownership in Australia may reflect the role of the larger unregulated Australian private rental sector in “oiling the wheels” between renting and ownership. The size, geography and diversity of the Australian private rented sector make it relatively easy for households to adjust housing costs to income by moving before mortgage stress becomes excessive.
Arguably, therefore, renting performs a risk management role, offering temporary, relatively easily accessible, refuge for those on the edges of home ownership. From this perspective, the earlier exit of Australian households who experience financial stress may be seen as the product, in part, of a well-functioning housing system in which the rented sector offers a general safety net. This does occur in the UK, but to a much more limited extent, via a small social rented sector which offers a ‘soft landing’ for households with some very specific (largely health-related) housing needs.
Second, however, there are differences in the two countries’ social security systems. Historically, British home owners with particular financial needs (such as the loss of all earned income) have been eligible for what is now known as support for mortgage interest (SMI). This may postpone or prevent the need to sell up. There is no such safety net for mortgagors in Australia.
Whether, in the long run, either institutional “solution”(growing the rental sector or subsidising mortgagors at risk of arrears) is satisfactory is a topic for policy makers to discuss.
Other options include shared ownership and equity share, which, if provided at scale could offer an escape valve for financially stretched home owners, perhaps improving on the diversity offered by the Australian private rental sector.
On the other hand, if households in either country have the need or appetite to swap the costs of owning for those of renting or shared ownership regularly or routinely, then it must be time to consider the financial instruments that might enable them to do so without incurring the massive transactions costs, and domestic upheaval, of selling up and moving into a rental property.
 
Gavin Wood is professor of housing at RMIT University and can be contacted <a href="https://theconversation.com/profiles/gavin-wood-113723" target="_blank">here</a>.
Melek Cigdem-Bayram is research fellow at RMIT University and can be contacted <a href="https://theconversation.com/profiles/melek-cigdem-bayram-181846" target="_blank">here</a>. 
Rachel Ong is principal research fellow, Bankwest Curtin Economics Centre at Curtin University and can be contacted <a href="https://theconversation.com/profiles/rachel-ong-113482" target="_blank">here</a>.
Susan Smith is honorary professor of Geography at University of Cambridge and can be contacted <a href="https://theconversation.com/profiles/susan-smith-5944" target="_blank">here</a>.
All are authors for The Conversation
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Australians less likely to survive home ownership than Britons

Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

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