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GUEST OBSERVATION
It’s been widely reported that the coal mining industry is facing a <a href="https://www.smh.com.au/business/carbon-economy/coal-mining-downturn-to-be-prolonged-citi-20140812-1034fi" target="_blank">prolonged downturn</a>, with investment analysts at Citibank telling clients last year not to expect a rapid revival in thermal coal prices, while many Australian coal producers have posted <a href="https://www.theaustralian.com.au/business/latest/aust-coal-industry-facing-weaker-chinese-demand/story-e6frg90f-1227255476299">financial losses</a> in recent years.
That’s why it is surprising to learn of a recent spate of approvals for mine expansions in the coal heartlands of New South Wales. It seems that even in a downturn, the approvals process for new mines – at least in NSW – is continuing to move as fast as ever.
Those mine approvals will leave a lasting legacy. According to the NSW Auditor-General, as of 30 June 2012 there were about <a href="https://www.audit.nsw.gov.au/ArticleDocuments/255/27_Volume_Six_2012_Department_Trade_Investment_Regional_Infrastructure_Services.pdf.aspx?Embed=Y" target="_blank">573 derelict mine sites</a> in NSW (including gold and other minerals, as well as former coal mines). And only a small fraction of those <a href="https://www.resourcesandenergy.nsw.gov.au/miners-and-explorers/programs-and-initiatives/derelict" target="_blank">derelict mines</a> were being rehabilitated.
New mine approvals
Earlier this month, the NSW Planning Assessment Commission (PAC) gave a green light to Rio Tinto’s controversial <a href="https://www.smh.com.au/environment/rio-tinto-wins-planning-nod-for-controversial-warkworth-coal-mine-20150305-13vonn" target="_blank">Mount Thorley-Warkworth extension</a> in the Hunter Valley. The move follows the PAC’s decision last month to approve <a href="https://www.smh.com.au/environment/nsw-gives-green-light-to-two-big-coal-mine-expansions-20150202-1345lg" target="_blank">two other big coal mine expansions</a>, at Moolarben, near Mudgee, and Bengalla, near Muswellbrook.
In each case, the argument hinged on economic benefits, such as the direct and indirect spending associated with the project, the government royalties they will generate, and the jobs they will create and existing jobs they will secure.
The negative aspects of these developments, such as the impact on the local environment and communities, including the way regional landscapes are being scarred by huge holes in the ground, do not seem to have received the same consideration by the PAC and by most in the media.
In the case of <a href="https://www.yancoal.com.au/page/key-assets/mines/moolarben/" target="_blank">Yancoal’s expansion near Mudgee</a>, the <a href="https://www.pac.nsw.gov.au/Projects/tabid/77/ctl/viewreview/mid/462/pac/451/view/readonly/myctl/rev/Default.aspx" target="_blank">PAC acknowledged</a> that 1,534 hectares of land will be cleared (of which 123 hectares is deemed to contain endangered ecological communities).
Meanwhile, <a href="https://www.riotinto.com/copperandcoal/mount-thorley-warkworth-10427.aspx" target="_blank">Rio Tinto’s Mount Thorley Warkworth project</a> is expected to have a significant impact on the community of Bulga and its surrounding environment.
The rules on who’s responsible for mined land
In NSW all exploration and mining activity must be conducted in accordance with approvals under the Mining Act 1992 and the rehabilitation of mined land is therefore covered by law.
Resources and Energy (NSW Trade and Investment) has the responsibility for setting and assessing sustainable rehabilitation outcomes, and the industry must demonstrate to them “best practice ecological rehabilitation” of mined land if they are to recover their mine closure bond. There is therefore a strong financial incentive for miners to do a good job, as they must demonstrate that they have a plan for post-mining land use and mine closure when open-cut mining ceases.
Corinne Unger from the University of Queensland’s Centre for Mined Land Rehabilitation is among those to have raised the question of how Australia should be better managing the <a href="https://theconversation.com/what-should-we-do-with-australias-50-000-abandoned-mines-18197" target="_blank">50,000 abandoned mine sites</a> across the country.
There are more and more of these <a href="https://www.theherald.com.au/story/305968/poll-managing-holes-left-by-mines/" target="_blank">“final voids”</a> – typically meaning huge holes in the ground – being left as a legacy of both former and current opencut mining operations.
<a href="https://www.theherald.com.au/story/305968/poll-managing-holes-left-by-mines/" target="_blank">The Newcastle Herald</a> reported earlier this month that:
"Mining in the Hunter Valley could leave a legacy of more than 10,000 hectares of land consumed as “final voids”, or giant holes left by mines, prompting a push for the state government to investigate their cumulative impacts on the region’s water table and agriculture. The independent Planning Assessment Commission has urged the government to undertake the study, and branded as ‘‘unacceptable’’ mining giant Rio Tinto’s proposal for a 950-hectare final void at its Mount Thorley mine site – an area it notes is … about a sixth of Sydney Harbour.
"In advice issued to the commission, the Department of Planning has revealed it is “not aware of the total size” of existing and approved voids in the Hunter. But approval had been given for about 30 to be developed that on a “conservative estimate” would cover 7500 to 10,000 hectares," it said.
This has been a long-running issue. Back in 2005, a <a href="https://www.planning.nsw.gov.au/regional/pdf/final-draft1_5.pdf" target="_blank">NSW Department of Planning report</a> found that there would be more than two dozen of these large open holes left on the floor of the Hunter Valley, and that all would become “saline water sinks” without rehabilitation.
The question is: why aren’t these miners required to fill in their final voids as a matter of course, as part of the government-approved mine rehabilitation plan?
One word: cost.
As The Newcastle Herald has <a href="https://www.theherald.com.au/story/2932508/hunters-mining-moonscape-10000-hectares-of-holes/">also reported</a>, a Rio Tinto spokesman said that the final void left behind at the Mount Thorley-Warkworth mine “will be largely hidden from view due to the surrounding landscape and extensive rehabilitation works planned after mining”. But will it be completely filled in? No.
The NSW Department of Planning <a href="https://www.theherald.com.au/story/2932508/hunters-mining-moonscape-10000-hectares-of-holes/">has estimated</a> it would cost at least A$2 billion over the life of the mine to completely fill the void, and said it would “not be reasonable to impose a condition that requires Rio Tinto to completely or even partially backfill the final void”.
The NSW government has a wide range of legislated powers for regulating mine site rehabilitation, including setting environmental management and rehabilitation conditions, requiring rehabilitation security bonds and enforcement powers to ensure lease holders comply with their obligations.
But the regulators now accept that mine voids from current mines are to remain in the landscape once mining ceases, despite their legal responsibility to ensure that miners undertake best-practice rehabilitation, if they are to recover their bond monies.
It seems that rehabilitation of the final void is going a little too far in terms of “best-practice ecological rehabilitation” of mined lands. The cost to rehabilitate the final void should be borne by the industry that has earned income from digging up and selling the coal. It should no longer be acceptable to leave a large hole in the ground as a legacy.
Cleaning up the problem
Later this month, a <a href="https://www.uononlineshop.com/index.php/conference/conferences-events/tom-farrell-institute/mine-rehab-conference-2015" target="_blank">Best Practice Mine Rehabilitation Conference</a> is being held in Singleton, which will feature a panel discussion on the role that final voids could play in the landscape of the Hunter Valley.
In my view, this would not be needed if the industry and regulators were doing the right thing for the community and the environment by requiring that these features be filled in.
As the situation currently stands, the hundreds of mining holes that litter the Hunter Valley represent a significant financial liability to the state.
Very little government funding is available for their ongoing management, let alone their rehabilitation. In 2013-14, the NSW government allocated just A$4.276 million for the rehabilitation of derelict mines – and that amount fell in 2014-15 to <a href="https://www.resourcesandenergy.nsw.gov.au/miners-and-explorers/programs-and-initiatives/derelict">A$4.071 million</a>.
That’s a pittance of the A$1.5 billion that <a href="https://www.nswmining.com.au/getattachment/menu/Media/Publications/2014-15-NSW-Minerals-Council-Pre-Budget-Submission-%281%29.pdf" target="_blank">the NSW mining sector</a> says it paid to the NSW government in 2013-14.
Whoever wins the March 28 election, the next NSW government needs to recognise the financial liability being left to current and future taxpayers not only from derelict sites, but also the current mines being allowed to be left behind in future without complete rehabilitation.
For “best practice” to mean something, this should mean that people living in regional NSW are not left with a landscape blighted with hundreds of holes in the ground.
Phillip Geary is associate professor environmental science at University of Newcastle.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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Disused mines blight New South Wales, yet the approvals continue: Phillip Geary

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The co-founders of an early education facility dedicated to the care of children with disabilities have received an $80,000 investment from two of the investors on Channel Ten's Shark Tank, a show inviting news businesses to pitch in front of a panel of investors.  
Rebecca Glover decided to start her own business dedicated to the holistic care of children with disabilities in 2013 when she realised there was nowhere to send her own daughter, Ruby, who lives with a disability.
“The early years with Ruby were very turbulent and she was in constant pain. My other daughter was three when things became difficult. So once I got to the point where Ruby was more settled, I knew I would need respite for myself or I just wouldn’t be able to keep going,” Glover told Women’s Agenda.
“So I thought, who will look after her? And there was no one. I realised there was a huge gap in the market because she couldn’t go to a normal daycare and in-home care would put me $300 out of pocket every day.”
Glover said this motivated her to start a business of her own. The business, a home-run childcare service, is called Hummingbirds Early Intervention and Education Service. 
“I could see something needed to change so I started investigating different models I could use to start my own childcare service. I started to see where the need was in the community and it was clear that there was a huge amount of need for a new service like this,” Glover said.
“So I realised that same need must be everywhere. I decided I would start a childcare centre in my home at first and see where it went from there.”
 Then, in mid-2014, Glover connected with a parent who was bringing her child to Glover’s home childcare centre, Leah James.
“I had been running Hummingbirds for just over a year from my home and Leah was bringing her son each day, so we got talking about how she could help out with the business. We then joined forces and started work on a bigger plan to get a proper external centre and reachmore families, which is exactly what we’re trying to do now,” Glover said.
And this week, Glover and James have received the investment they need to do just that. The $80,000 investment from Steve Baxter and John McGrath, awarded following their pitch on Shark Tank, will help them establish their first childcare centre.
Glover said the mentoring they had received as a result of the show, on top of the large investment, has been particularly helpful.
“It’s so much bigger than just the money – the mentors we have found in Steve and John are priceless. The knowledge they can bring to our business will be unbelievably helpful. Leah and I have thepassion and the drive and we know what we’re doing, but their expertise will be such a great input and that, to me, is more important than the money,” she said. 
“We showed them that this is a real life problem and we painted a picture of what is actually happening for parents in our communities. We gave them a glimpse into this world and showed them that something has to change, and so they believed in us and saw this could be aviable business and a good investment for them.”
 Investor Steve Baxter echoed this sentiment.
“Not only does Hummingbirds strike a chord with me because of the simply incredible service it offers, it’s also a very smart business investment because it is essentially filling a large gap in the market. Rebecca and Leah have the heart, the passion, the wits and the business smarts, all brilliant traits in a business partner,” he said. 
Glover hopes to see the business grow to include multiple childcare centres in Brisbane and across Australia.
“It’s not just about childcare, it’s more than that. It’s about helping families who need help, and allowing their children to flourish and become whoever they want to be,” Glover said.
This article first appeared on <a href="https://www.womensagenda.com.au/" target="_blank">Women's Agenda</a>.
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Why some of Channel 10's 'Sharks' are investing in childcare

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National auction success rates have racheted down from levels, according to CoreLogic RP Data.
A preliminary weighted average clearance rate of 77.4% was recorded this week across capital cities compared to 77.2% last week and 69.4% this time last year.
<img src="/images/2015/03/23/auctio-mar-24-two.jpg" alt="">
Source: CoreLogic RP Data
Last week there was a preliminary weighted average clearance rate of 78.3%, a six year high.
A 79.7% clearance rate was recorded in September 2009. 
<img src="/images/2015/03/23/auctio-mar-24-one.jpg" alt="">
Source: CoreLogic RP Data
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National auction success rates rachet down from recent levels: CoreLogic RP Data

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Sunshine Coast home values have been rising since mid-2013, according to CorLogic RP Data.
 Over the 12 months to December 2014, house values rose by 6.7%, while unit values increased by 6%.
The number of houses sold across the Sunshine Coast has increased by 9% over the 2014 year, while unit volumes have remained virtually unchanged (+1%). 
Vendor discounting rates have improved over the year, with houses discounted by -5.9% from the initial list price, in comparison to -6.7% at the same time last year, while the average vendor discount for units has eased from -7.2% over the previous year to -6.5% currently. 
Click to open in new window: 
<a href="/images/2015/03/16/sc-mar-16-one.jpg" target="_blank"><img src="/images/2015/03/16/sc-mar-16-one.jpg" alt=""></a>
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Sunshine Coast house price recovery underway: CoreLogic RP Data

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CoreLogic RP Data says the Illawarra housing market was a region that had been a strong performer over 2014.
Sales activity across the region is currently sitting 7% above the five year average and median house values have risen by 8.2% over the 12 months to December 2014, while unit values are up 8%.
There were 6,377 Illawarra homes sold over the 12 months to November 2014, just slightly more than the 6,346 homes sold over the preceding year.
Key stats across the region including vendor discounting levels and average time on market had also improved over the year. 
Click to open in new window:
<a href="/images/2015/03/16/illawarra-mar-16-one.jpg" target="_blank"><img src="/images/2015/03/16/illawarra-mar-16-one.jpg" alt=""></a>
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Illawarra a strong performing housing region: CoreLogic RP Data

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GUEST OBSERVATION
Whatever one’s opinion on the Intergenerational Report (IGR), it is undeniable that Australia faces challenging economic and personal realities over the next 40 years. Treasurer Joe Hockey has <a href="https://www.smh.com.au/federal-politics/political-news/intergenerational-report-joe-hockey-warns-difficult-days-lie-ahead-20150220-13jnkx" target="_blank">emphasised</a> the IGR highlights the need for Australia to respond to <a href="https://www.pc.gov.au/research/completed/ageing-australia" target="_blank">demographic changes</a>. Proposed responses include extending the average working life and increasing participation by Australian seniors.
On April 14, the Senate Economics References Committee is due to deliver its <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Affordable_housing_2013" target="_blank">report on affordable housing</a>. This report is expected to highlight shortfalls in affordable and <a href="https://www.jchs.harvard.edu/research/housing_americas_older_adults" target="_blank">age-appropriate housing</a>.
These major demographic and housing issues are closely connected. The challenges they present must be tackled against a background of deteriorating economic conditions and an oversubscribed health system.
The issues the IGR raises are many and varied. They are also subject to a plethora of contingencies. However, one issue that cannot be denied is the inescapable impact – one way or another – of an ageing population on Australia’s economic future.
The danger is that the government seems to be emphasising (albeit crucial) issues such as employment and health without taking a broader view of factors, of which housing is pivotal, that will nourish and buttress these aspirations.
Housing is tied to health and productivity
If Australian seniors are to remain healthy and work longer, the importance of appropriate housing cannot be underestimated. Much attention is being paid to the rising cost of health care for an ageing population. However, the nexus between secure accommodation and better health and financial outcomes for older people, the broader community and the economy is <a href="https://whqlibdoc.who.int/publications/2008/9789241563703_eng.pdf" target="_blank">largely overlooked</a>.
If older Australians are more secure in their accommodation, they are more likely to remain employed and in good physical and psychological health. All of the consequential benefits of this flow to the economy and the nation as a whole. Therefore, improved provision of affordable senior housing is vital to enable people to remain employed into their 60s, 70s and even 80s, and thereby lift Australia’s productivity and sustain economic growth.
To pursue these goals in the IGR, the government’s attention must extend to ensuring an adequate supply of affordable and suitable housing for seniors. The population of older Australians is naturally diverse, so individual housing preferences vary significantly.
The major asset of most Australian households is the family home. For seniors, housing equity makes up approximately half of their wealth. However, <a href="https://apo.org.au/research/asset-rich-income-poor-australian-housing-wealth-and-retirement-international-context" target="_blank">research to date</a> suggests few of these households are drawing on this wealth during retirement.
Insecurity has multiple harmful impacts
For older people who do not own a home and must find affordable accommodation in a competitive market, life can be particularly daunting. As social policy researcher Bruce Bradbury <a href="https://www.sprc.unsw.edu.au/media/SPRCFile/25_sprp_41.pdf">has noted</a>: "Australia is unusual in that economic exclusion among the elderly is closely linked to a lack of home ownership (or access to public housing)."
Seniors have different housing requirements to younger people and families. Older Australians <a href="https://theconversation.com/affordable-housing-is-a-problem-for-older-australians-too-21555" target="_blank">often require</a> smaller and more accessible housing located close to services, care and support.
Transitions in later life are complex. These transitions, it has been observed: "…challenge older adults to make projections of a future self and to anticipate their emotional, medical and financial needs."
Older people who are secure in the knowledge that they can stay in their accommodation for an extended period – or permanently – exhibit demonstrably <a href="https://www.pubfacts.com/detail/19246417/Reasons-for-relocation-to-retirement-communities:-a-qualitative-study." target="_blank">better physical and psychological health</a> than those in less stable accommodation. Insecurity in one’s home environment <a href="https://www.researchgate.net/publication/231759516_Anticipating_Relocation_Coping_Strategies_and_the_Meaning_of_Home_for_Older_People">heightens the risks</a> to <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/17327545" target="_blank">physical and psychological health</a> in the short and longer term, including <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/17327545" target="_blank">feelings of powerlessness</a>.
Insecure accommodation may also impact on older people’s social situations. They may become reluctant to engage in their local communities. If they have to relocate, they may lose <a href="https://www.healthyhousing.org.nz/wp-content/uploads/2010/01/Housing-and-health-in-older-people-aging-in-place.pdf" target="_blank">support and friendship networks</a>.
The prospect of possibly having to move weighs heavily on older people. This is especially so where options for accommodation elsewhere are limited.
Finally, significant economic costs are attached to the heightened risk of physical or psychological illnesses.
Beyond the headlines, a concerted strategy for an older – but healthier and more productive – population must be crafted. A focus on secure, affordable housing for seniors is a cornerstone for any such aspirations.
Eileen Webb is professor, Faculty of Law at University of Western Australia.
Gill North is associate professor of Law at Monash University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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Suitable, affordable housing is key to our population ageing well: Gill North & Eileen Webb

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A Perth-based startup is looking to connect everyday investors with property developers who are seeking capital for their next project.
<a href="https://crowdfundup.com/" target="_blank" rel="nofollow">CrowdfundUP</a>, Australia’s first real estate crowdfunding platform, hopes to tap into the global property market. 
Perth-based real estate developer Megara will be the first real estate developer in Australia to participate in the platform’s developer partner program.
CrowdfundUP founder John Quigley said the platform will allow all kinds of Australians to invest in property.
“Nine out of 10 Australian invest in property or have an exposure to the Australian property market,” he says.
“They know their suburbs, they know what’s going on around them. What we do is introduce investors to opportunities and then when they pull together they have increased buying power and that’s the benefit.”
Quigley says he hopes the startup will provide a streamlined and transparent process – with individuals able to invest from as little as $100.
“We’re not saying we’re immune from a property bubble or anything else – it’s the same as investing in the property market,” he says.
“But what it is allowing you to do is that on a smaller scale so you don’t have to have that big exposure.”
Quigley says real estate crowdfunding has “exploded” in countries such as the US and UK.
“Australia is perfectly placed to make a completely tailored regime that suits our purposes,” he says.
“I want change and I want it done in a timely matter, but I don’t want something rushed through that’s going to hamstring industry and that we’re going to have to deal with for another four years.”
The crowdfunding space is <a href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/financing-a-business/venture-crowd-and-sydney-angels-team-up-to-put-equity-crowdfunding-on-the-agenda/2015031714358" target="_blank">heating up in Australia</a>. Yesterday, equity crowdfunding platform VentureCrowd announced a partnership with Sydney Angels.
Sydney Angels founder David Jackson said people who are not high-net worth individuals should have the opportunity to invest in startups.
“Everyone’s heard of the Facebooks and Googles but without equity crowdfunding it’s often hard for the mum and dad investors to get a piece,” he says.
“It’s high-risk investing, don’t get me wrong, but for them to put a small percentage of their investment portfolio into high-risk ventures that might give them a high return… will be a good opportunity.”
This article first appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartUpSmart</a>.
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Australia’s first property crowdfunding platform hits the market

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GUEST OBSERVATION
Housing is too big an issue to be left untouched in the lead-up to the NSW state election.
After weeks of relative inactivity, there has been a succession of announcements that could affect the NSW real estate market, covering housing supply, the practices of real estate agents and the transaction costs faced by first home buyers.
While claiming to target underlying affordability issues in the housing market, these promises are designed to appeal particularly to prospective home buyers - but could actually worsen affordability.
In fact, the one policy that could make the biggest difference is one that neither side of politics is likely to touch: axing stamp duty altogether.
Meek tweaks to existing policy
NSW Premier Mike Baird made the first move, announcing that if re-elected, his government would <a href="https://www.smh.com.au/nsw/nsw-state-election-2015/nsw-election-2015-baird-pledges-hed-double-land-release-for-new-housing-20150306-13x8un" target="_blank">“supercharge” new housing supply</a> around Sydney through increased land release.
But the reality is that most of the recent and proposed Sydney-based land releases are in areas that don’t match the needs of the target home buyers, especially employment opportunities. Around 30% of lots released in the first term of the Baird government have been in the Blacktown local government area, also covering future growth sites such as Schofields. Department of Employment figures show that this area also has the <a href="https://lmip.gov.au/default.aspx?LMIP/LFR_SAFOUR/NSW_LFR_LM_byLFR_UnemploymentRate" target="_blank">highest unemployment rate</a> in Sydney at 6.3% relative to a city-wide unemployment rate of 5.3%.
Another promise from the NSW Liberals has been to <a href="https://www.dailytelegraph.com.au/news/nsw/premier-mike-baird-pledges-crackdown-on-real-estate-agents-who-underquote-no-fines-issued-since-2004/story-fni0cx12-1227251897133" target="_blank">crack down on the practice of “underquoting”</a> by real estate agents. That’s where agents advertise a property at below what the vendor would reasonably accept, thereby boosting the pool of potential buyers who turn up to an auction.
Underquoting already attracts a fine of $22,000 in NSW, yet is poorly detected. It has been more than 10 years since a fine for underquoting was issued in NSW. Echoing promises made by Denis Napthine prior to his loss at the Victorian state election in late 2014, the Baird government has promised to target loopholes that permit agents to get away with underquoting, increase the penalty and possibly cancel agents’ licences.
For their part, Labor’s Luke Foley has <a href="https://www.smh.com.au/nsw/luke-foley-raises--stamp-duty-overhaul-during-second-election-debate-20150308-13ydxz" target="_blank">proposed</a> a policy that would allow first home owners to pay their stamp duty over five years instead of within three months of the property purchase.
Critics of NSW Labor’s plan question whether it really does help first home buyers to defer payments that will accrue interest in line with inflation.
And by removing this upfront cost, there is additional spending money available in the property search. Essentially, the Labor policy boosts demand in the short term at the longer term expense of first home buyers who will face increased repayment stress.
In fact, a more meaningful and positive impact on the entire housing market could be achieved through scrapping stamp duty on property transfers altogether.
Stamping out stamp duty
<a href="https://www.osr.nsw.gov.au/taxes/transfer-land/about" target="_blank">Stamp duty is a transaction tax</a>, and a significant one in real estate transactions in Sydney. Latest <a href="https://www.corelogic.com.au/research/monthly-indices" target="_blank">CoreLogic RP Data figures</a> show the median house price in Sydney is now over $900,000. On these numbers, a house selling at the median price in Sydney would attract a stamp duty bill of more than $35,000.
Transaction taxes affect all trading behaviour, but the impact is magnified in housing markets. The sheer size of looming stamp duty bills can limit opportunities for people to move house, locking them into a single property. This often hits hardest those in most need of relocation, like people whose living arrangements have changed because of divorce or who need to move for work.
Stamp duty also acts as a drag on the broader economy by restricting the efficiency of property prices, property supply and even labour mobility.
Why is the government too shy to touch stamp duty?
Put simply, the NSW government is addicted to stamp duty.
Current Minister for Planning, and former Minister for Community Services (under which other agencies such as NSW Housing sit), <a href="https://www.smh.com.au/act-news/goulburns-pru-goward-braces-for-a-huge-hit-at-nsw-poll-20150309-13yvw6" target="_blank">Pru Goward describes the situation perfectly</a>: "…We have a housing boom that of course is generating tremendous stamp duty revenue, so our revenue is back in the black and that has enabled us to make spending commitments that we otherwise would not be able to do."
NSW raised <a href="https://www.smh.com.au/nsw/stamp-duty-surge-bumps-nsw-surplus-to-12-billion-20141028-11czfw" target="_blank">more than $1 billion through stamp duty last year</a>. That is a very hard source of revenue for any government to let go of. Unfortunately for voters, it’s also incredibly inefficient.
The Henry Tax review <a href="https://taxreview.treasury.gov.au/content/FinalReport.aspx?doc=html/publications/Papers/Final_Report_Part_2/chapter_c2-4.htm" target="_blank">recommended switching away from stamp duty</a> to broad-based taxes, such as consumption tax or even land taxes. <a href="https://www.cpaaustralia.com.au/professional-resources/taxation/tax-reform-in-australia" target="_blank">CPA Australia</a> recommended something similar. The success of this switch would require cooperation between different levels of government.
More carrot, less stick
But is there a solution in the middle? A key flaw to Foley’s proposal is that it increases demand and is expected to further push up prices. Rather than incentivise first home owners to buy, why not offer an incentive for prospective sellers to put their property on the market?
The “empty nesters”, for example, now nearing retirement and with little need for the family home may be interested in downsizing to a smaller, more manageable property. Stamp duty is a cost that currently creates a disincentive for them to move.
Take away the stamp duty and the government could help create a more efficient housing market where home buyers have access to the right property for their needs.
<img src="https://counter.theconversation.edu.au/content/38536/count.gif" alt="The Conversation" width="1" height="1">Danika Wright is lecturer in finance at University of Sydney.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
{mijopolls 97} 
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Killing off stamp duty - a good policy that no politician supports: Danika Wright

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A Sydney startup is looking to make it easier for travellers to pitch up a tent in a property owner’s backyard or park their caravan in their driveway in exchange for cash.
<a href="https://www.home-camp.com/" target="_blank" rel="nofollow">Homecamp</a>, which launched in January this year, has just over 700 users and is available in seven countries.
Hosts are able to upload photos of their backyard and any additional facilities and set their own pricing. On average the platform’s users pay $30 for each night of their stay.
Payment made between the host and customer in person – however, online transactions and insurance will be available in the coming months.
Founder David Abitbol, who comes from France, said the early-stage platform is very similar to Airbnb but specifically for campers and travellers.
“We were backpackers and travelling Australia and we were struggling to find a place to park our van on the coastline,” he says.
“You can’t really find somewhere to park your van because it’s forbidden to park your van in the street and you expose yourself to the rangers and fines.”
Abitbol says he came up with the idea after noticing how Australians tend to have large properties and backyards.
“I thought maybe it’s a good idea to start a website to connect those people with extra space with backpackers looking for a place to stay. It’s a win-win.”
The startup is based out of Fishburners, which Abitbol says is useful because it means he has space for networking as well as interns.
“It is quite helpful because they provide free workshops and there are lots of people doing a similar thing,” he says.
Homecamp recently received $50,000 of seed funding from a few French investors in order to “pay the bills”.
Abitbol says he isn’t worried about running into regulatory problems, despite accommodation giant <a href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/growth/airbnb-runs-into-regulatory-problems-in-victoria/2015020314066" target="_blank">Airbnb drawing the ire of real estate agents</a> and policymakers in Victoria.
“From my perspective it is the market that should decide,” he says.
“If people use it and like it and it’s good value for campers and good value for home owners, then they [regulators] have to change and be flexible. They have to let people innovate… because otherwise it will end up blocking entrepreneurs and I don’t think that’s good for home owners but also Australia and the world.”
“If Airbnb and Uber are doing it, it means that we can do it as well.”
Abitbol also brushed off concerns that Homecamp would not be able to compete with Airbnb, which has raised more than $800 million to date.
“Airbnb are the luxury brand with villas and going to the camping industry or market would not be matching with their brand,” he says.
“This is a niche market for them, they’re looking for $80, $100 in rent because otherwise they’re not making money. Camping is often seen as cheap and old fashioned, which is why I don’t think it’s a market for Airbnb.”
In New South Wales, property owners have been <a href="https://www.smh.com.au/nsw/councils-threaten-home-owners-with-1-million-fine-for-renting-rooms-20140926-10mchq" rel="nofollow">threatened with fines of more than $1 million</a> for renting out rooms on Airbnb and other short-term accommodation platforms because regulators deemed they were running unauthorised bed and breakfasts.
According to the Tenants Union of Victoria, tenants are not allowed to sublet their property without written consent from their landlord.
This article first appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartUpSmart</a>.
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Sydney startup pitches tent in your backyard

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Newcastle and Lake Macquarie sales volumes have recently shown some improvement, according to the latest CoreLogic RP Data report.
However the districts continue to be well below the levels seen over the previous market peak in the early 2,000s.
Over the 12 months to November 2014 there were 6,729 houses and 1,463 units sold and current sales activity is 5% above the five year average.
Over the 2014 calendar year, home values across the region increased, up 7.2% for houses and 5.8% for units.
CoreLogic RP Data also reports that in comparison to the same time last year, homes are selling at a faster rate, with homes selling by an average of 12 days faster for houses and 13 days faster for units. <img src="/images/2015/02/25/chart-feb-25-one.jpg" alt="">
Source: CoreLogic RP Data
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Around 7% house price growth in Newcastle and Lake Macquarie CoreLogic: RP Data

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

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