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A luxury Bardon home in inner Brisbane has sold for more than $7.5 million in just 10 days.
The suburb record smashing near new build designed by architect Shaun Lockyer had a guide of $7 million plus.
The Nestor Avenue home previously traded as an original 1950s home designed by architect Neville Lund on 4,240 sqm, land that was originally owned by the Stuartholme Convent, for $2.3 million in 2013.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/13/The%20Nest%20Bardon%202.jpg" alt="">
Lockyer was called in to design the luxury five bedroom home dubbed The Nest that was completed in 2016.
The five bedroom home draws its inspiration from modern roots, expressed through the juxtaposition of heavy vertical and light horizontal planes highlighting itself as an amazing representation of sub-tropical architecture.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/13/The%20Nest%20Bardon%203.jpg" alt="">
It incorporates fine, elegant lines, sandblasted concrete, Spotted Gum timber and floor-to-ceiling glass.
The five bedrooms are located on one side of the property, the master suite complete with its own walking wardrobe and bathroom.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/13/The%20Nest%20Bardon%204.jpg" alt="">
The open plan kitchen, living and dining space opens to the swimming pool. There's also a gym, 1000 bottle wine cellar and a tennis court in the grounds.
The former Bardon record has stood since 2016 when a five bed home sold for $4.55 million.
 
 
 
 
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j.ballantyne1990-6AQqhLzZaK

The Nest, the Shaun Lockyer-designed Bardon home, sells for over $7.5 million

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A vacant possession industrial premises located at Thomastown, Victoria has been sold at auction.
The 568 sqm building at 82 Lipton Drive attracted over 30 enquiries. 
There were 19 bids taken between two bidders.
 The property was purchased for $820,000 by an owner occupier, $70,000 above reserve. 
This result equates to a building rate of $1,443.66/sqm and a land rate of $950.17/sqm for the 863sqm site.
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Situated off Mahoneys Road, this location provides easy access to major roads and arterials including being under 3km from Hume Highway, 2.5km from the M80 Ring Road and its associated linkages to the Tullamarine Freeway, Hume Freeway and West Gate Freeway.
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It was sold by Craig McKellar and Oliver Price of CVA.
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Thomastown industrial building sold for $820,000

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GUEST OBSERVATION
Sydney’s Macquarie University <a href="https://www.smh.com.au/national/zero-growth-enrolment-troubles-force-university-to-make-budget-cuts-20191101-p536mc" target="_blank">announced budget cuts</a> in recent days, due to “zero growth” in enrolments next year.
Vice-Chancellor Bruce Dowton reportedly wrote a letter to staff announcing the cuts, which included a hiring freeze. The letter said:
"Enrolment growth domestically and internationally has slowed significantly at a time when our base operating costs continue to rise […] Current projections are that there will be zero growth in load [full-time student numbers] in 2020."
This <a href="https://www.afr.com/policy/health-and-education/unis-risk-catastrophic-hit-due-to-reliance-on-china-20190820-p52ivu" target="_blank">comes a few months</a> after a report from the Centre for Independent Studies warned Australia’s universities were in for a “catastrophic” financial hit due to their over-reliance on international students from China.
Macquarie has been hit harder than most other universities, but many universities are finding it more difficult to recruit students than they did a few years ago. New domestic enrolments are in a mild recession. And although international student numbers are still growing, demand from Chinese international students has stabilised.
No increase in school leavers wanting university
In 2018, the number of students starting a bachelor degree <a href="http://highereducationstatistics.education.gov.au/" target="_blank">fell for the first time since 2003</a>. Of Australia’s 37 public universities, 23 took fewer new bachelor-degree students in 2018 than 2017.
Enrolments are expected to be down again in 2019, following a drop <a href="https://www.education.gov.au/undergraduate-applications-offers-and-acceptances-publications" target="_blank">in applications</a>. Commencing domestic postgraduate student numbers peaked several years ago.
In a sector used to growth, a downturn causes problems.
Since a Commonwealth <a href="https://www.brisbanetimes.com.au/politics/federal/universities-warned-against-regional-cuts-as-turnbull-government-strips-22-billion-from-budget-20171218-h06i24" target="_blank">funding freeze announced in late 2017</a>, universities have not had strong financial incentives to enrol additional students. But this is not the main reason for falling enrolments. The issue is weak demand more than reluctant supply.
Demand for higher education is influenced by the population of potential applicants. Recent school leavers are the biggest bachelor-degree market. The number of year 12 school students fell slightly in 2018, mostly due to a downward trend in babies born 17 years previously.
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Birth and forecast population trends suggest year 12 student numbers will increase by only 1-2% in the next couple of years. So domestic demand for higher education from school leavers should stay close to current levels.
Mature-age students also affect enrolments
To date, <a href="https://andrewnorton.net.au/2019/10/29/has-the-university-funding-freeze-caused-commencing-enrolments-to-fall/" target="_blank">mature-age students are the principal cause</a> of falling commencing bachelor-degree enrolments. But the number of non-year 12 applicants new to higher education is not trending down. For the last few years their applications have fluctuated in a narrow range.
The drop in demand is driven by people who have been to university before. Possibly, <a href="https://theconversation.com/labor-wants-to-restore-demand-driven-funding-to-universities-what-does-this-mean-116060" target="_blank">more student places under demand-driven funding</a> triggered a boom in course switching and former students returning, which has now subsided.
Former students are also affecting the domestic postgraduate market. The number of people who already have a degree, which makes them eligible for postgraduate study, <a href="https://andrewnorton.net.au/2019/09/12/migration-has-outpaced-demand-driven-funding-as-a-source-of-additional-graduates/" target="_blank">is at record levels</a>. But domestic postgraduate coursework commencements peaked in 2014 <a href="https://www.propertyobserver.com.au/https://twitter.com/andrewjnorton/status/1188684271843606529/photo/1" target="_blank">and have declined since</a>.
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This is not an isolated trend. All types of structured education for <a href="https://andrewnorton.net.au/2019/10/18/the-changing-nature-of-work-training-further-evidence-and-puzzles/" target="_blank">people already in the workforce are in</a> <a href="https://andrewnorton.net.au/2019/09/26/contrary-to-expectations-reskilling-and-retraining-seem-to-be-in-decline/">decline</a>. It’s likely <a href="https://andrewnorton.net.au/2019/10/15/the-popularity-of-online-self-education/" target="_blank">online self-education is taking market share</a>.
What about international enrolments?
The story is very different in the international-student postgraduate market, which is growing rapidly. In 2018, for the first time ever, more international students <a href="https://www.propertyobserver.com.au/https://twitter.com/andrewjnorton/status/1188676824387051520/photo/1" target="_blank">started a postgraduate than an undergraduate course</a> in Australia.
Despite some soft international markets, the overall trend is up. The <a href="https://internationaleducation.gov.au/research/International-Student-Data/Pages/InternationalStudentData2019.aspx" target="_blank">most recent data</a>, which take us to August 2019 and cover all levels of higher education, show commencing enrolments are 7% higher than at the same time in the previous year.
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<a href="https://data.gov.au/dataset/ds-dga-324aa4f7-46bb-4d56-bc2d-772333a2317e/details?q=student%20visa" target="_blank">Student visa applications</a>, which go up to September this year, suggest overall demand continues to increase modestly. But we should wait until later in the year before drawing firm conclusions.
A key cause of enrolment increases is India’s rapid rise. Commencing Indian student enrolments have <a href="https://internationaleducation.gov.au/research/International-Student-Data/Pages/InternationalStudentData2019.aspx" target="_blank">more than doubled since 2016</a>. Although China remains the largest source of international students, new Chinese enrolments have stabilised this year.
International student issues could cause numbers to fall
Given enrolment and visa trends, total international student enrolments will increase in the short term. But there are many concerns about this industry, including <a href="https://andrewnorton.net.au/2019/09/18/how-bad-is-the-international-student-english-language-problem/" target="_blank">English language standards</a>, <a href="https://www-tandfonline-com.ezp.lib.unimelb.edu.au/doi/full/10.1080/03075079.2018.1462788" target="_blank">cheating</a>, <a href="https://issuu.com/nteu/docs/sotus_2017_report_1_overview" target="_blank">soft marking</a>, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/4corners/red-flags/11601456" target="_blank">Chinese political interference</a>, university financial <a href="https://www.afr.com/policy/health-and-education/auditors-general-warn-again-over-reliance-on-international-students-20190602-p51tnh" target="_blank">over-reliance on international students</a>, <a href="https://www.smh.com.au/opinion/tackling-the-exploitation-of-international-student-workers-20150818-gj1ge3" target="_blank">labour market exploitation of students</a>, and <a href="https://theconversation.com/australias-temporary-graduate-visa-attracts-international-students-but-many-find-it-hard-to-get-work-in-their-field-123997" target="_blank">poor graduate outcomes</a>.
There are also broader issues of <a href="https://tapri.org.au/wp-content/uploads/2019/04/Overseas-students-are-driving-NOM-final-18-April-2019.pdf" target="_blank">international students driving up migration numbers</a>, as well as questions of whether we want a large proportion of the population living with <a href="https://www.textpublishing.com.au/books/not-quite-australian" target="_blank">limited political and welfare rights</a>.
<a href="https://www.stawelltimes.com.au/story/5964043/pm-morrison-hits-pause-on-migrant-intake/" target="_blank">Population issues</a> contributed to a <a href="https://campusmorningmail.com.au/news/the-international-education-regional-visa-scheme-is-working" target="_blank">rule change</a> to attract international students away from congested big cities to regional and minor city locations. I expect further regulatory changes and market reactions to international education issues to eventually cause a decline in numbers.
University luck might be about to run out
For universities addicted to international student dollars any enrolment decline is bad news. But universities have a history of luck. As international student numbers dropped a decade ago, domestic enrolments boomed. And as domestic numbers flattened in recent years, the international market took off.
As the domestic demography chart above suggests, there is potential for big increases in Australian undergraduates in the mid-2020s, as the mid-2000s baby boom children reach university age.
There is, however, a major obstacle to that scenario: with the end of demand-driven funding, there will be <a href="https://andrewnorton.net.au/2019/08/27/will-the-number-of-commonwealth-supported-student-places-fall/" target="_blank">no money to pay for those extra students</a>. Federal Education Minister Dan Tehan has <a href="https://ministers.education.gov.au/tehan/afr-higher-education-summit" target="_blank">acknowledged the problem</a> but so far has no solution.
Without one, the future contains major risks. Universities could have falling enrolments for both domestic and international students. This will mean staff cuts and less money for research.
And the people born in the mid-2000s could be part of an unlucky generation in which <a href="https://andrewnorton.net.au/2019/04/29/young-people-were-less-likely-to-enter-higher-education-in-the-years-after-whitlam-than-before-demography-and-deficits-were-against-them/" target="_blank">population growth collides with budget constraint</a>. Their chances of finding a university place will be lower than for people born in earlier decades.<img src="https://counter.theconversation.com/content/126342/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Andrew Norton, Honorary fellow, University of Melbourne.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/enrolments-flatlining-australian-unis-financial-strife-in-three-charts-126342" target="_blank">original article</a>.
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Enrolments flatlining: Australian unis’ financial strife in three charts

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GUEST OBSERVATION 
Feeling lonely? A dog may help. Our research out today confirms what many dog owners already know: dogs are great companions that can help you to feel less lonely.
Cuddles and slobbery kisses, meeting other dog owners in the park and a general lift in mood all likely help.
But our study, published today in <a href="https://bmcpublichealth.biomedcentral.com/articles/10.1186/s12889-019-7770-5" target="_blank">BMC Public Health</a>, found dogs didn’t affect psychological distress, the type seen in depression and anxiety.
Why are we studying this?
<a href="https://animalmedicinesaustralia.org.au/report/pets-in-australia-a-national-survey-of-pets-and-people/" target="_blank">Almost two in five Australian households own a dog</a>. And although most dog owners will assure you, in no uncertain terms, their dog is a source of sheer happiness, scientific evidence is lacking.
Most previous studies have compared the mental well-being of dog owners to non-owners at a single point in time. The problem with these studies is they cannot tell if dogs actually make us happier, less lonely or less stressed. They also cannot tell us if dog owners are simply in a more positive state of mind in the first place.
So, in this study, we measured mental well-being at three points in time: before owning a dog, three months after owning a dog and eight months after owning a dog.
What did we do?
<a href="https://sydney.edu.au/charles-perkins-centre/our-research/current-research/physical-activity-exercise-and-energy-expenditure/dog-ownership-and-human-health" target="_blank">Our study</a>, known as the PAWS trial, involved 71 Sydney adults who were separated into three groups:
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<li>people who bought a dog within one month of starting the study</li>
<li>people who were interested in getting a dog in the near future but agreed not to get one during the study, and</li>
<li>people who had no interest in getting a dog.</li>
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People filled out surveys to measure their mood, loneliness and symptoms of psychological distress at the three different time-points. We then compared the mental well-being of the groups at the beginning of the study, to the mid-point and to the end-point.
Here’s what we found
New dog owners felt less lonely after they got a dog compared to the other two groups. The effect happened quite quickly, within three months of acquiring a dog. There was no further decrease in loneliness between three months and eight months.
We also found some evidence that dog owners had fewer negative emotions, such as nervousness or distress, within three months of getting a new dog but this finding was not as clear cut.
We found that symptoms of depression and anxiety were unchanged after acquiring a dog. Maybe the dog owners in our study already had low levels of psychological distress before they got a dog, so dog ownership didn’t lower these levels any further.
What does it all mean?
There are lots of possible reasons dogs can help to lessen feelings of loneliness. We know having a quick cuddle with a dog <a href="https://www.tandfonline.com/doi/abs/10.1080/08927936.2015.1070008" target="_blank">boosts people’s mood in the short-term</a>. Maybe daily dog cuddles can also boost owners’ mood in the long-term which could help to lower feelings of loneliness.
Dog owners may also meet new people through their dog as <a href="https://www.propertyobserver.com.au/https://onlinelibrary.wiley.com/doi/abs/10.1348/000712600161673" target="_blank">people are more likely to talk strangers if they are accompanied by a dog</a>. In our study, dog owners also said they had met new people in their neighbourhood because of their dog.
So far, there have only been two similar studies to look at mental well-being in new dog owners, one of which was conducted almost 30 years ago.
Of these studies, one found dog owners had <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/1774745" target="_blank">fewer symptoms of psychiatric disorders</a> after they acquired a dog. The other study found <a href="https://www.tandfonline.com/doi/abs/10.2752/089279307X245473" target="_blank">no difference in loneliness</a> after people brought a new dog home.
Dogs may also improve our <a href="https://ahajournals.org/doi/full/10.1161/cir.0b013e31829201e1" target="_blank">physical health</a>, by reducing blood pressure, improving cardiovascular health and increasing the amount of physical activity their owners perform. But, as is the case with mental well-being, the scientific evidence is still limited.
So, what happens next?
One of the things our study cannot determine is how dogs affect men’s mental well-being. By chance, all the new dog owners in our study were women. So, we don’t know whether dogs affect men’s mental well-being in a different way to women’s.
Our next step is to look at mental well-being in a much bigger group of new dog owners to confirm these findings. A bigger study could also provide more insight into the relationship between dog ownership and mental illness, such as depression and anxiety.
If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14.<img src="https://counter.theconversation.com/content/125495/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Lauren Powell, PhD candidate, University of Sydney.
Emmanuel Stamatakis, Professor of Physical Activity, Lifestyle, and Population Health, University of Sydney.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/dogs-really-can-chase-away-loneliness-125495" target="_blank">original article</a>.
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Dogs really can chase away loneliness

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GUEST OBSERVATION
Australia was already <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/44609144?seq=1#page_scan_tab_contents" target="_blank">one of the most urbanised nations</a> by the end of the 19th century. Unlike European and North American countries, Australia’s pattern of settlement did not have a neat urban hierarchy. The gap between the large and small towns was huge.
These patterns have intensified in the decades since federation, especially after the second world war. International and internal <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/3218.0" target="_blank">migration trends have driven rapid growth</a> in the big cities, especially Melbourne and Sydney. This has created major problems with providing adequate <a href="https://theconversation.com/housing-policy-reset-is-overdue-and-not-only-in-australia-112835" target="_blank">housing</a>, <a href="https://theconversation.com/congestion-busting-infrastructure-plays-catch-up-on-long-neglected-needs-114598" target="_blank">infrastructure</a> and <a href="https://theconversation.com/some-suburbs-are-being-short-changed-on-services-and-liveability-which-ones-and-whats-the-solution-83966" target="_blank">services</a>.
The fundamental issue is the reluctance of urban communities and their leaders to discuss what might be sustainable populations.
The folly of unlimited growth
No Australian city has a long-term vision showing how a future stabilised population might be supported with the essential resources of food, water and energy. No Australian city has faced up to the inevitable social tensions of <a href="https://theconversation.com/what-did-the-rich-man-say-to-the-poor-man-why-spatial-inequality-in-australia-is-no-joke-73841" target="_blank">increasing inequality</a> between a well-served inner-urban elite and an increasingly under-resourced urban fringe.
Leaders in cities that have not grown as rapidly, such as Adelaide, <a href="https://www.news.com.au/finance/economy/australian-economy/as-the-east-coast-struggles-with-population-numbers-south-australia-is-desperate-for-a-boost/news-story/5ebca065ebe3f975ed83827d2373db37" target="_blank">lament their failure to grow like Sydney and Melbourne</a>, despite all the associated problems. All implicitly believe unlimited growth is possible.
In reality, the expanding ecological footprints of the large cities have created unsustainable demands on land to support urban dwellers. And the wastes the cities produce are straining the capacity of the environment to handle these.
Given the many unpriced flow-on effects from dense urban growth and market-led development, governments are struggling to deal with the undesirable consequences. <a href="https://theconversation.com/australian-city-workers-average-commute-has-blown-out-to-66-minutes-a-day-how-does-yours-compare-120598" target="_blank">Congestion</a> and <a href="https://theconversation.com/walking-mightnt-be-good-for-you-if-its-through-australias-polluted-city-streets-88772" target="_blank">pollution</a> threaten to overwhelm the many social and economic benefits of urban life.
The growth and concentration of populations are also driving chronic excess demand for appropriate housing. The result is <a href="https://theconversation.com/affordable-housing-lessons-from-sydney-hong-kong-and-singapore-3-keys-to-getting-the-policy-mix-right-123443" target="_blank">serious affordability problems</a>, which are adding to inequality across society and generations.
In 1970, urban historian <a href="https://theaimn.com/book-review-ideas-for-australian-cities-by-hugh-stretton/" target="_blank">Hugh Stretton pointed</a> to the role of Australia’s widespread owner occupation in offsetting the inequalities generated in labour markets and by inherited wealth. This is no longer the case.
The dominant neoliberal economic ideology has resulted in a <a href="https://theconversation.com/australia-needs-to-reboot-affordable-housing-funding-not-scrap-it-72861" target="_blank">retreat from providing public housing</a>. Abandoning would-be home-owners to the market has produced a situation in which urban land and house ownership is <a href="https://theconversation.com/how-the-housing-boom-is-remaking-australias-social-class-structure-66976" target="_blank">reinforcing class-based inequalities</a>. Home ownership is increasingly the preserve of the affluent and their children.
Housing-related inequality is also seen in the geography of our cities. <a href="https://theconversation.com/city-by-city-analysis-shows-our-capitals-arent-liveable-for-many-residents-85676" target="_blank">Poorer households are priced out of locations with better access</a> to good jobs, schools, transport, health care and other services.
Failures of governance
Governments in Australia’s federation are poorly placed to respond adequately. <a href="https://theconversation.com/metropolitan-governance-is-the-missing-link-in-australias-reform-agenda-55872" target="_blank">Responsibilities and fiscal resources are divided</a>, creating obstacles to effective planning and infrastructure provision.
The main factor driving urban population growth is an unprecedented <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1617/Quick_Guides/MigrationStatistics" target="_blank">rate of inward migration</a>. The national government <a href="https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels" target="_blank">sets large migration targets</a> as an easy way of creating economic growth. This leaves state governments with the impossible task of meeting the resulting demand for infrastructure.
Jane O’Sullivan <a href="/news">has shown</a> each extra urban citizen requires about A$250,000 of investment. The total sum is well beyond the capacity of state and local governments.
Arguments between federal and state governments are heavily politicised, especially when it comes to major transport investments. Even within single jurisdictions, complex demands and unexpected consequences prevent effective action. The <a href="https://theconversation.com/the-recycling-crisis-may-be-here-to-stay-112055" target="_blank">waste recycling crisis</a> is a prime example.
State governments must also deal with difficult trade-offs between, for example, allowing further <a href="https://theconversation.com/living-liveable-this-is-what-residents-have-to-say-about-life-on-the-urban-fringe-111339" target="_blank">development on the edges of cities</a> or <a href="https://theconversation.com/becoming-more-urban-attitudes-to-medium-density-living-are-changing-in-sydney-and-melbourne-84693" target="_blank">encouraging higher density in built-up areas</a>. This often involves <a href="https://theconversation.com/vested-interests-behind-city-shapers-often-subvert-higher-density-policies-74244" target="_blank">conflicts</a> with local governments and communities, concerned to protect their ways of life.
Australian planners and governments have long tinkered with <a href="https://theconversation.com/making-small-cities-bigger-will-help-better-distribute-australias-25-million-people-101180" target="_blank">policies to encourage decentralisation to smaller cities</a>. Despite these attempts, the dominant pattern of urbanisation with its seemingly intractable problems has hardened, a triumph of reality over rhetoric.
What needs to change?
To get beyond the rhetoric and make our cities more sustainably liveable requires a much more deliberate and interventionist role for government. It also requires residents of our cities and suburbs to be willing to allow their governments to interrupt business as usual.
This, we know from experience, is a big ask. It will step on the toes of the <a href="https://theconversation.com/housing-policy-is-captive-to-property-politics-so-dont-expect-politicians-to-tackle-affordability-55384" target="_blank">property lobby</a> and ordinary home owners. In some cases, for example, the short-term financial interests of property owners are leading local authorities to ignore scientific warnings about the impacts of climate change on coastal development.
Major changes are also needed in how urban land is taxed and the proceeds invested. “Simple” reforms like <a href="https://theconversation.com/the-way-australia-taxes-housing-is-manifestly-unfair-58421" target="_blank">replacing stamp duty on land transfer with a universal land tax</a>, as the <a href="http://www.taxreview.treasury.gov.au/content/Content.aspx?doc=html/home.htm" target="_blank">Henry Tax Review</a> recommended, will take political courage that has been absent to date.
More complex policies like finding ways of diverting population growth to non-metropolitan regions will take careful thought and experimentation. This might include relocating government agencies to provincial cities. This has been tried sporadically in the past at the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-04-19/decentralisation-push-for-federal-government-departments/8453816" target="_blank">federal</a> level and in states such as <a href="https://www.theguardian.com/australia-news/2017/may/04/victorian-public-service-jobs-to-move-to-ballarat-and-latrobe-valley" target="_blank">Victoria</a> and <a href="https://psa.asn.au/wp-content/uploads/2013/01/NSW-Decentralisation-Taskforce-Report-April-2013-FINAL.pdf" target="_blank">New South Wales</a>. However, such cases tend to be one-offs and do not reflect an overall strategic plan.
Future generations will inevitably be critical of the complete failure of current leaders to plan for sustainable development.<img src="https://counter.theconversation.com/content/123916/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Mike Berry, Emeritus Professor, RMIT University.
Ian Lowe, Emeritus Professor, School of Science, Griffith University.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/no-australian-city-has-a-long-term-vision-for-living-sustainably-we-cant-go-on-like-this-123916" target="_blank">original article</a>.
This article is part of a series on rebalancing the human–nature interactions that are central to the study and practice of ecological economics, which is the focus of the 2019 ANZSEE Conference in Melbourne later this month.
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No Australian city has a long-term vision for living sustainably. We can’t go on like this

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There has long been a vigorous debate about the many and varied reasons why electricity prices in Australia are so high. 
An <a href="https://www.accc.gov.au/regulated-infrastructure/energy/electricity-supply-prices-inquiry/final-report" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.15999984741211px;">ACCC review</a> found retail electricity markets mostly do not work in the interests of the customer – but this is only part of the story.
Another commonly accepted theory assumes that long-term customers of an electricity retailer pay a “loyalty tax” while those who switch every year save money.
But <a href="https://docs.wixstatic.com/ugd/cb01c4_8babedb580d44ca080fefea8b2ae8b0b.pdf" target="_blank">our research</a> has found that Victorians who switch their energy providers typically save less than A$50 a year. This challenges the common understanding of how these markets work.
<h2>Questioning common wisdom</h2>
Working from the assumption that seeking better deals can save households significant amounts, governments throughout Australia have encouraged customers to switch retailers often. Switching rates in Australia are actually very high, especially so in Victoria.
To test how well the theory matches reality, the Victorian government provided my colleagues and I with 50,000 real electricity bills uploaded by Victorian households to the government’s price comparison website in late 2018. (These households agreed their bills could be used for research purposes and bill uploads were voluntary.)
Our sample is reasonably representative of the population, although we think these customers may be a little more engaged with the energy market than typical Victorians.
What we found challenges the commonly accepted theory of how the retail market works. As it turns out, for most customers, switching retailers does not greatly reduce the amount of money they leave on the table (the difference between their annual bills and the market’s best offers).
The typical customer that has not switched energy retailers in the last year could have saved A$281 per year (about 20% of their bill) if they had signed up to the best possible deal.
 
But in reality, customers that did switch retailers in the last year saved only A$45 a year, or about 3% of their annual bill. This suggests that customers are not switching to the best possible deals. A A$45 saving is not a great reward for the time and effort they would have spent searching and then switching.
The first reaction of many economists to our finding would be that the retail market is working: the competitive pressures from switchers shows profits have been competed away and there is now little to be gained from switching.
From this perspective, those who did not switch could rest easy that the market was working for them. This is, after all, how many markets work. I am often amazed at the quality of many things I buy, and their prices that fall without me having to do anything to bring it about.
However, this does not seem to be the full picture in the electricity market. All customers, switchers and remainers, are typically paying some 20% more than the cheapest available option.
And it’s not that there are just one or two fantastic deals that customers are missing – there is a good number of much cheaper deals that they are not finding.
We also cannot assume customers are looking for other qualities, like customer service, instead of lower prices: saving money is by far the main reason customers switch.
<h2>Why is this happening?</h2>
Our finding begs an explanation. We suggest it starts with the observation that while electricity is extremely valuable, it’s just a utility. While people get pleasure from buying many things, electricity is certainly not one of them. Quite understandably, most customers want to spend as little time as possible engaging in electricity markets.
Many offers are also eye-wateringly complex. Large businesses fare far better than households in the energy market, through the simple but costly method of hiring professional consultants to find the best deals.
So, we have a complex product that requires skill to buy well but customers are, quite rationally in most cases, reluctant to spend the time acquiring those skills. It is understandable why most people do not do well when they navigate the market on their own.
But when customers seek advice from price comparison websites and similar advisors - as around half seem to do – they are often not getting good advice.
Perhaps this is to be expected in a market in which advisors are almost always paid by the sellers, and customers have little ability to assess the quality of the advice they get.
There are no easy solutions. Governments face the often mutually inconsistent objectives of stimulating choice and making choice simpler. The task is difficult at the best of times, and governments are seldom good at engaging with dynamic, fast-moving markets.
Some might argue that cheaper retailers simply have to convince customers of their merits, relative to the more expensive offers from the other retailers that most customers select. But electricity must already be one of the most advertised products in Victoria.
About 110 years ago, economist Alfred Marshall <a href="http://la.utexas.edu/users/hcleaver/368/368MarshallChivalrytable.pdf" target="_blank">suggested</a> that a government could print a good edition of Shakespeare’s works, but it could not have got them written. While the carcass of municipal electric works belongs to the officials, he said, the genius belongs to free enterprise.
The creation of a retail electricity market in Victoria 17 years ago sought to bring the “genius” of free enterprise to the sale of electricity to small customers. Taken in the round, the results so far are not entirely encouraging.<img src="https://counter.theconversation.com/content/122786/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/bruce-mountain-141253" target="_blank">Bruce Mountain</a>, Director, Victoria Energy Policy Centre, <a href="http://theconversation.com/institutions/victoria-university-1175" target="_blank">Victoria University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/victorians-who-switched-energy-retailers-only-save-45-a-year-leaving-hundreds-on-the-table-122786" target="_blank">original article</a>.
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Victorians who switched energy retailers only save $45 a year – leaving hundreds on the table

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A castle-esque residence in Surrey Hills, Victoria, has been listed with a price guide of $3.4 to $3.6 million.
Located at 50 Wandsworth Road, the property comprises of 1,440 square metres.
It features four bedrooms, three bathrooms, a garage, study and library, large pool, and a personal gym. 
Built in 1888, the home has had wood-graining, marbling and gold-leaf detailing, carried out more recently by acclaimed artisan Derek Marvelley.
It last traded in 2001, when it sold for $1.3 million. 
The median house price in Surrey Hills is $1.738 million.
Richard Winneke and Campbell Ward, from Jellis Craig Boroondara, listed the sale. 
 
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Surrey Hills trophy home listed for sale

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Sydney's cheapest auction sale was $410,000 for a Newtown studio, one of just four reported weekend sales under $500,000.
The purchaser got a 39 square metre second floor corner position (pictured) overlooking King Street.
It was recently offered as a $430 a week rental, putting the sale at a 5.45 percent gross rental yield.
It had traded at $345,000 in 2014, at a slightly higher 5.8 percent yield. 
There were just three other reported sales where buyers got something in the $400,000s.
There was a two bedroom $446,000 Merrylands unit sold through Starr Partners. It last sold in 1999 at $215,000, so took around two decades to double in price.
A two bedroom Bankstown townhouse sold for $455,000.
There was a pre-auction $460,000 sale of a Potts Point studio, last sold at $36,500 in 1984.
The 27 square metre studio had city skyline views from its fifth floor Wylde Street vantage point.
The price guide had been $400,000 by McGrath agent Matthew Allerton.
A $382,000 Pemulwuy unit failed to sell.
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Newtown studio is weekend's cheapest sale

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Moving towards the latter part of 2019, the Central Coast region is seeing a little more stability in the residential market, according to the latest Herron Todd White (HTW) residential report.
The valuation firm took a look at rental yields across the nation. 
The report notes there is still the occasional outlier sale, but stability can be seen across all phases of the market.
The stability brings a good opportunity to look at where values are sitting and in the case of this month’s submission, where yields are sitting, the valuation firm said. 
"We generalise yields across several sectors of the market to include normal residential, prestige market and the holiday letting market," it said.
"No surprises that normal residential dwellings and units in the suburbs provide the bulk of rental accommodation."
Four-bedroom, new or newish project style dwellings towards the northern end of the region in suburbs that include Hamlyn Terrace, Woongarrah and Wadalba are showing yields in the vicinity of 4.5% to 5% gross.
In the older established locations and closer to the lakes and beaches, such as Bateau Bay, gross rental yield varies from 3.5% in the higher value bracket to 6% in the lower priced property segment.
The report suggests the unit market across the Central Coast Region is well established and like most of the eastern seaboard, it is expanding.
New developments are a prominent feature in the Gosford CBD and we can see that gross yields of between 4% and 5% can be expected.
The beachside suburb of Terrigal is a popular tourist and weekend destination, but it is also home to many living and working on the coast.
Gross yields on units seem to be hovering around the 4% mark at present.
"The Wyong unit market has traditionally been a solid investment choice and at the moment we are seeing gross yields varying anywhere from 5% to 7%," the valuation firm added. 
House and granny flat (secondary dwellings) have been popular in the peninsula suburbs of Umina Beach and Woy Woy for several years now.
This type of property is typified by an older dwelling, sometimes renovated and sometimes not, with a new granny flat erected within the rear yard area and accessed via the rear lane way.
A sample of this property from our records indicates that yields are around 5% to 6%.
"There have been some instances of 7% being obtained, but we believe a more representative level of yield to be slightly lower than this," the valuation firm said. 
In regard to the holiday letting market, getting a true market yield depends on a number of factors, least of which is disclosure of income to the market and that is a rare thing.
Other factors that can affect yields include the location, user reviews of a particular property, non-availability due to repairs and of course, occupancy rates.  
"There are more factors, but these are the ones we hear the most about," the valuation firm stated. 
"We hear and see yields ranging from sub-4% to well over the 10% mark.
"The end result for holiday lettings is that we find that the data is limited and too unreliable to make a call on yields." 
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Central Coast seeing more stability in the residential market: HTW

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In the Rockhampton region, yields have always been a strong consideration for the investor market as the region does not suffer the significant price fluctuations of the larger city markets, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
"Any capital gain to be had in our region is therefore a long-term commitment. A high grossing yield provides the incentive to remain in the market," the valuation firm said. 
"On the other hand, most investors coming into the Gladstone market are more looking for short to medium term capital gains, especially given the timing of the current market cycle.
"The current state of the Rockhampton and Gladstone markets is considered to be at the early stages of recovery, so typically now is the best time to achieve a higher yielding property while values remain at an affordable low and rents are starting to creep up after a consistent tightening trend of vacancy rates over the past 18 months to two years."
Across the Rockhampton and Gladstone regions, the type of investor varies greatly from the typical mum and dad investor who may have one house other than the family home, through to interstate investors who invest significantly in the region via the purchase of multiple dwellings or sets of flats.
Whilst rarely seen, there is also a small degree of foreign investment.
"The emergence of the Rockhampton Riverfront precinct over the past ten years has also provided the opportunity to hold a holiday unit and receive the higher return over peak periods, or the benefit of a dual key arrangement, although there is a limited market for fully serviced apartments in our region," the valuation firm added. 
Gladstone has a significant supply of inner city apartments operated as serviced apartments aimed mainly at corporate travellers as well as tourists.
Non-traditional income producing properties (such as Airbnb) are less common regionally, with little evidence available to determine a yield.
There are however the occasional peak periods where traditional short-term accommodation cannot cater to the market, such as during the Beef Australia events held every three years, where Airbnb is extremely effective, however this is not an ongoing source of income throughout the year.
In the residential space, it is unlikely that a standard suburban home would attract what investors would consider to be a high yielding return on investment, depending on the location.
The report notes a typical 10 year old, four-bedroom home that may sell for $470,000 may only provide a gross yield in the order of 5% to 5.5%. This type of yield reflects the low-maintenance nature of the property.
An entry level home in the older, established areas of Rockhampton will be more attractive if assessed on a yield basis only, for example a 1940s high set three-bedroom fibro home, not directly flood affected (becomes isolated during flood periods) may sell at around $160,000 and provide a gross yield somewhere between 7% and 8%.
Whilst this may be more acceptable to most investors, there is likely to be higher levels of expenses involved with maintaining the property which would affect achievable rental income.
"Gladstone properties reflect similar yields, however the price points differ slightly," the valuation firm said. 
A typical five to 10 year old, four-bedroom home in Kirkwood or New Auckland would sell for around $300,000 and would reflect a gross yield in the order of 5% to 6%.
An older 1960s high set, three-bedroom home in a central suburb such as West Gladstone or South Gladstone would typically sell for around $200,000 and provide a gross yield somewhere between 6% and 8%.
The best high yielding property type in our region is flats or multiple properties on one title.
Due to the multiple occupancy nature, the income generated is often at least double traditional residential housing.
"Whilst we have example after example of traditional sets of flats achieving gross yields typically in the high 7% to low 8% range (buy in prices around the low to mid $300,000s), there are still some rare opportunities out there," the valuation firm said. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/30/koongal%202.jpg" alt="">
A recent sale of a two x two-bedroom duplex at <a href="https://www.realestate.com.au/sold/property-duplex+semi-detached-qld-koongal-130358254" target="_blank">12 Macarthur Street, Koongal</a> (pictured above) for $210,000, reflects a gross yield of 9.9%.
It is difficult to beat a near 10% return on a residential property in this region. This property then may benefit from the potential to increase the yield through a renovation and in turn increase the annual income able to be generated by the duplex.
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Now is the best time to find higher yielding properties in Rockhampton and Gladstone: HTW residential 

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

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Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

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Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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