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GUEST OBSERVATION
As environmental crises and the urgency to create ecological sustainability escalate, so does the importance of ecological economics. This applied, solutions-based field of studies is concerned with sustainability and development, rather than efficiency and growth. Also, given that cities account for <a href="http://nua.unhabitat.org/details1.asp?ProjectId=33&amp;ln=1" target="_blank">70-80% of global economic activity</a> and associated <a href="https://www.journals.elsevier.com/environmental-development/news/urban-resource-flows-and-the-governance" target="_blank">resource use</a>, <a href="https://www.un.org/en/climatechange/cities-pollution.shtml" target="_blank">emissions</a> and <a href="https://www.worldbank.org/en/news/press-release/2018/09/20/global-waste-to-grow-by-70-percent-by-2050-unless-urgent-action-is-taken-world-bank-report" target="_blank">waste</a>, they are central to finding solutions to the challenge of sustainability.
Ecological economics recognises local to global environmental limits. It ranges from research for short-term policy and local challenges through to long-term visions of sustainable societies. Ecological economists also consider global issues such as <a href="https://theconversation.com/climate-explained-what-each-of-us-can-do-to-reduce-our-carbon-footprint-123851" target="_blank">carbon emissions</a>, <a href="https://theconversation.com/the-amazon-is-on-fire-here-are-5-things-you-need-to-know-122326">deforestation</a>, <a href="https://theconversation.com/plenty-of-fish-in-the-sea-not-necessarily-as-history-shows-84440" target="_blank">overfishing</a> and <a href="https://theconversation.com/plants-are-going-extinct-up-to-350-times-faster-than-the-historical-norm-122255" target="_blank">species extinctions</a>.
Core concepts
You’re probably familiar with some core concepts of ecological economics. These include “steady-state economies”, “carrying capacity”, “ecological footprints” and “environmental justice”.
<a href="https://images.theconversation.com/files/299762/original/file-20191031-187912-wzwxwn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/299762/original/file-20191031-187912-wzwxwn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Nicholas Georgescu-Roegen was one of the first economists to argue that an economy faces limits to growth as a result of resource depletion.
A <a href="https://www.casse-nsw.org.au/" target="_blank">steady-state economy</a> is both relatively stable and respects ecological limits. Drawing on the work of mathematician and economist <a href="https://www.hetwebsite.net/het/profiles/georgescu.htm" target="_blank">Nicholas Georgescu-Roegen</a>, economist <a href="http://np4sd.org/about/herman-daly/" target="_blank">Herman Daly</a> elaborated the model, editing a 1973 anthology, <a href="https://en.wikipedia.org/wiki/Herman_Daly#Toward_a_Steady-State_Economy" target="_blank">Toward a Steady-State Economy</a>.
In 1990, Daly co-founded the International Society of Ecological Economics (<a href="http://www.isecoeco.org/" target="_blank">ISEE</a>). It had three key principles:
<ul>
<li>
the human economy is embedded in nature, and economic processes are actually biological, physical and chemical processes and transformations
</li>
<li>
ecological economics is a meeting place for researchers committed to environmental issues
</li>
<li>
ecological economics requires transdisciplinary work to describe economic processes in relation to physical reality.
</li>
</ul>
<a href="https://www.uvm.edu/gund/profiles/joshua-farley" target="_blank">Joshua Farley</a>, who has worked with Daly, discusses some of these principles in an opening address to the Australia New Zealand Society of Ecological Economics (<a href="https://anzsee.org.au/" target="_blank">ANZSEE</a>) <a href="https://anzsee.org.au/2019-anzsee-conference/" target="_blank">conference</a> at RMIT University later this month.
In a partnership program of several North American universities, Farley teaches <a href="https://e4a-net.org/what-is-e4a/" target="_blank">Economics for the Anthropocene</a> postgraduates. They apply ecological economics to “real-world environmental solutions”. Some will talk at the conference about their research.
Today overconsumption is measured against Earth’s <a href="https://theconversation.com/human-carrying-capacity-and-our-need-for-a-parachute-7160" target="_blank">carrying capacity</a>.
<a href="http://williamrees.org/biography/" target="_blank">William Rees</a> and <a href="https://www.footprintnetwork.org/about-us/people/?_ga=2.189136171.1872162861.1572564412-1050177602.1571894476" target="_blank">Mathis Wackernagel</a> developed the related concept of the <a href="https://www.footprintnetwork.org/" target="_blank">ecological footprint</a>. It’s an indicator of the ecological impacts of everyday activities and practices.
Ecological footprints are useful ways for industries, <a href="https://theconversation.com/chinese-migrants-follow-and-add-to-australian-city-dwellers-giant-ecological-footprints-103921" target="_blank">governments</a> and <a href="https://www.wwf.org.au/get-involved/change-the-way-you-live/ecological-footprint-calculator#gs.8476ub" target="_blank">people</a> to assess which practices we need to reduce to keep within the limits of Earth’s regenerative capacity.
ISEE co-founder <a href="https://ictaweb.uab.cat/personal_detail.php?id=15" target="_blank">Joan Martinez-Alier</a> established the global <a href="https://ejatlas.org/" target="_blank">Environmental Justice Atlas</a>. Activists and scholars developed this online database of around 3,000 environmental justice conflicts. It provides open access to many and various ecological and economic value assessments.
Issues of <a href="https://ejatlas.org/country/australia" target="_blank">environmental justice in Australia</a> include:
<ul>
<li>
<a href="https://gards.org/asbestos-related-disease-facts-and-figures-australia-2018/" target="_blank">fatalities from asbestos-related diseases</a>
</li>
<li>
<a href="https://theconversation.com/fossil-fuels-are-bad-for-your-health-and-harmful-in-many-ways-besides-climate-change-107771" target="_blank">health and climate impacts of coal mining</a> and <a href="https://theconversation.com/expanding-gas-mining-threatens-our-climate-water-and-health-113047" target="_blank">natural gas fracking</a>
</li>
<li>
<a href="https://theconversation.com/dont-just-blame-government-and-business-for-the-recycling-crisis-it-begins-with-us-121241" target="_blank">ineffective waste systems</a> and <a href="https://theconversation.com/explainer-how-much-landfill-does-australia-have-78404" target="_blank">landfills</a>
</li>
<li>
<a href="https://theconversation.com/logged-native-forests-mostly-end-up-in-landfill-not-in-buildings-and-furniture-115054" target="_blank">clear-felling of Australian forests</a>, and <a href="https://theconversation.com/australia-might-water-down-illegal-logging-laws-heres-why-its-a-bad-idea-86832" target="_blank">timber imports</a> from Asia-Pacific deforestation. 
</li>
</ul>
A new kind of economics
Ecological economics partly developed from frustration with the narrowness of environmental and resource economics. These approaches apply mainstream economics to the environment. In doing so, they fail to incorporate critical environmental concerns that arise with inputs, outputs and waste.
In addition, ecological economists have a <a href="https://theconversation.com/beyond-gdp-are-there-better-ways-to-measure-well-being-33414" target="_blank">broader view about what “progress” is</a> and how to measure it. Ecological econonomists are more sceptical about how much human-made capital improves on the benefits we get from nature. Critically, they ask: “How useful is it to put a monetary value on nature?”
Ecological economist <a href="https://theconversation.com/profiles/clive-hamilton-195">Clive Hamilton</a> <a href="https://theconversation.com/the-price-of-god-at-coronation-hill-49235" target="_blank">discusses</a> that question in the case of Coronation Hill in Kakadu National Park. He argues that market-based assessments such as “willingness to pay” favour market-based solutions. Similarly, <a href="https://theconversation.com/profiles/brian-coffey-162907">Brian Coffey</a> <a href="https://theconversation.com/cents-and-sensibility-why-its-unwise-to-put-dollar-figures-on-nature-49508" target="_blank">highlights</a> the conundrum of monetising ecological values: "I would rather ask “why is nature important?” and “how can we live with, and within, it?”
Despite this, certain ecological economists use monetary data to make powerful ecological statements. For instance, <a href="https://theconversation.com/profiles/ida-kubiszewski-142545" target="_blank">Ida Kubiszewski</a> and her co-authors surveyed land uses under different future scenarios. They <a href="https://theconversation.com/without-action-asia-pacific-ecosystems-could-lose-a-third-of-their-value-by-2050-63452" target="_blank">concluded</a> that continuing business as usual could wipe out a third of the value of Asia-Pacific ecosystems by 2050.
Solutions for sustainable and just futures
In short, ecological economics has contributors from diverse disciplinary and professional backgrounds.
Presenters to the ANZSEE conference of course include ecologists and economists. But there are also social and physical scientists, sociologists, philosophers, historians, planners and sustainability experts.
Sustainability expert <a href="https://theconversation.com/profiles/samuel-alexander-102353" target="_blank">Samuel Alexander</a> speaks about <a href="https://theconversation.com/limits-to-growth-policies-to-steer-the-economy-away-from-disaster-57721" target="_blank">living well with degrowth</a>. Others argue that a climate-safe world requires radical forms of economics.
Contributors will also talk about <a href="https://theconversation.com/why-our-response-to-climate-change-needs-to-be-a-just-and-careful-revolution-that-limits-pushback-123588" target="_blank">just transitions</a>, <a href="https://theconversation.com/keeping-the-city-cool-isnt-just-about-tree-cover-it-calls-for-a-commons-based-climate-response-120491" target="_blank">commoning</a>, the <a href="https://theconversation.com/the-search-for-an-alternative-to-gdp-to-measure-a-nations-progress-the-new-zealand-experience-118169" target="_blank">genuine progress indicator</a> (GPI), <a href="https://theconversation.com/i-stand-with-the-climate-striking-students-its-time-to-create-a-new-economy-123893" target="_blank">School Strike for Climate</a> (SS4C), <a href="https://theconversation.com/what-next-after-100-resilient-cities-funding-ends-116734" target="_blank">resilience</a>, <a href="https://theconversation.com/2050-is-too-late-we-must-drastically-cut-emissions-much-sooner-121512" target="_blank">decarbonisation</a> and ethical investment. Keynote speaker <a href="https://theconversation.com/profiles/jon-altman-2991" target="_blank">Jon Altman</a> presents a model of hybrid economies that’s useful in the context of Indigenous peoples.<img src="https://counter.theconversation.com/content/123915/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;">
Anitra Nelson, Associate Professor, Centre for Urban Research, RMIT University.
Brian Coffey, Vice-Chancellor's Research Fellow, Centre for Urban Research, RMIT University, RMIT 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/what-is-ecological-economics-and-why-do-we-need-to-talk-about-it-123915" 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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j.ballantyne1990-6AQqhLzZaK

What is ‘ecological economics’ and why do we need to talk about it?

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A harbour-side mansion, in Sydney's Clontarf, has sold for $9 million, short of its $10.5 million listing price. 
The house, on Gordon Street, features seven bedrooms, seven bathrooms, a quadruple garage, full-sized billiards room, large pool, and home cinema.
<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/2019/11/1/Clontarf%202.jpg" alt="">
The property comprises of 2240 square metres of private, landscaped grounds. 
Brad Hunt, who is part of the family that founded Primo Smallgoods, and his wife Kylie owned the house for the past nine years.
<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/2019/11/1/Clontarf%203.jpg" alt="">
They bought the house in 2009 for $8.7 million, showing just $300,000 (or 3.5%) in 10 years.
The median house price in Clontarf is $2.92 million.
James Haywood and Anita Wildash, from Cunninghams Real Estate, listed the property.
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Harbourside Clontarf mansion sold for $9 million 

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Investors within the inner and middle ring suburbs of Sydney have generally been focused on capital growth, particularly within the recent years of 2015 to 2017 where most properties saw double-digit growth year on year, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at the rental yields across the country to dissect where to find the best returns in residential markets.
"However, since mid to late 2017, we have seen values decline in most property types and locations across Sydney with certain property types and locations hit harder than others," the valuation firm said. 
"In addition to this we are at record low interest rates and in an environment where capital growth or decent yields are difficult to find."
The report notes investment grade home unit style properties within inner Sydney can generally return gross annual yields in the order of 3% to 5%, however this is dependent on many of the usual factors that affect property such as location, property type, condition, quality, views and parking.
It also said it's important to remember that these yields are gross and therefore have not been adjusted for outgoings, in particular strata levies which can be substantial, particularly if the unit is located within a high density apartment building with common facilities such as pools, gyms and lifts.
A dual key apartment is commonly defined as having a self-contained studio accessed by a door, inside the main apartment.
There is a shared common hallway, but separate lockable doors to each home.
<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/2019/10/21/chippendale%201.jpg" alt="">
A dual key unit in Central Park at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-chippendale-130754314" target="_blank">1203/18 Park Lane Chippendale</a> (pictured above) sold in May for $1.2 million.
The property was a two-bedroom dual key apartment with each area comprising one-bedroom, bathroom, kitchen, laundry, lounge/dining and balcony.
The unit also enjoys extensive common facilities such as pools, gym, spa, rooftop garden and concierge.
The advertised rental was $1,330 per week combined which reflects a gross yield of 5.76%.
"Depending on the specific needs of each investor, it could be more beneficial to focus on units within smaller scale developments or entry level Torrens title properties such as terraces or free-standing dwellings.
"These options would be beneficial in terms of not having to pay high fees for common facilities and there is opportunity to add value via renovations. Smaller scale unit developments and Torrens title properties also tend to have stronger capital growth over a long term period," the valuation firm concluded. 
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Smaller scale unit developments in Sydney CBD fringe have stronger capital growth: HTW residential 

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Return and Earn is encouraging all NSW residents to help set a record for the number of eligible drink containers returned during National Recycling Week (11-17 Nov) for their local government area. 
More than 5 million bottles and cans are returned every day – the equivalent of 2 containers for every NSW household. 
“We are challenging NSW residents to put their local area on the recycling map by returning as many eligible drink containers as they can through their local return point for the week,” Janelle Neath, Acting CEO of Exchange for Change, scheme coordinator for Return and Earn said today. 
“We’d like to see all of NSW involved and if you haven’t returned and earned before, this week is the perfect time to set yourself a new habit that’s a win for the environment and your wallet,” she added. 
The latest Return and Earn figures for the first six months of the year show Blacktown, Central Coast and Canterbury-Bankstown local council areas as leading Return and Earners. 
All Return and Earners are encouraged to post photos and stories of their recycling efforts during National Recycling Week tagging #returnandearn #nationalrecyclingweek. 
To avoid queues, check <a href="http://www.returnandearn.org.au/" target="_blank">returnandearn.org.au</a> for peak times or use an automated depot - these can be faster than reverse vending machines plus there’s no need to sort glass from plastic or cans. 
Each container deposited into one of 640 plus Return and Earn return points statewide is diverted from landfill and recycled into a new product while earning the consumer 10c for each return.
 
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NSW's residents urged to take on Return and Earn National Recycling Week challenge

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Between 2013 and 2017, it was a pretty tough slog for investors in residential real estate in Mackay, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
"The downturn in the resource sector and flow on effects to Mackay have been well documented in this column, but are important to give context in the current market," the valuation firm said. 
Rental vacancy rates blew out significantly from around 1% to a high of 9.4%, with market rental values falling between 30% and 50%.
"Investors all but left the market during this period, putting greater pressure on values of purely investment grade stock, in particular flats and units.
"However, over the past 12 to 18 months, the tide has definitely started turning," the valuation firm said. 
Rental vacancy rates have been falling over the past two years and currently sit at just below 2% with market rental values increasing throughout this period.
In fact, the rate of increase in rental values rose faster than any increase in capital values during this period, meaning yields are increasing.
This fact alone, with the prospect of increasing capital values in the medium term, is making Mackay a great place to invest at present, the report noted.
"So, what are the yields being achieved at present?
"For residential dwellings, gross yields currently sit between 5% and 6%, with the higher yields currently available on lower value dwellings," the valuation firm said. 
The HTW report suggests the minimum rental levels in Mackay have been rising steadily, allowing greater yields on these properties.
The risk is the older properties may require capital expenditure and repairs and do not reap the depreciation benefits on more modern properties.
"In terms of gross yields only, the highest yields currently available are with units. Unit values fell significantly in the downturn and have only started to increase slightly since," the valuation firm said. 
For example, an older style walk up two-storey attached unit in close proximity to the CBD can still be purchased for under $150,000, with some recent sales as low as $110,000.
These units can command a rental of between $180 and $200 per week giving gross yields of between 7% and 8.5%.
"Just a word of caution, these rates are gross yields only and do not take into account the higher costs of insurance and body corporate levies in Mackay or rates payable." 
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Mackay minimum rental levels rise steadily: HTW residential 

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EXPERT OBSERVATION
As green shoots have clearly appeared in the property market, RiskWise Property Research has taken a retrospective analysis of lessons to be learned from the recent downturn.
1) Think long term and don’t seek quick wins. It’s easy to see Sydney and Melbourne carry a low level of risk and are the long-term winners when it comes to the property market. While we’ve had short-lived episodes of enthusiasm in areas such as Hobart and the mining towns in both Western Australia and Queensland, these areas are no longer in favour with owner-occupiers or investors (Hobart delivered a modest annual change in dwelling value of 2.6 per cent). Now we are seeing the Sydney and Melbourne markets starting to perform more strongly, which means that only the people who bought at the top of the market in 2017 and 2018 are seeing temporary reductions in dwelling values. People who are looking for ‘adventures’ in the property market are like gamblers and often find these escapades to be perilous down the track when it is too late to do anything about.
2) Taxation and regulatory changes carry very tangible risk to property investors. Investors should focus on purchasing dwellings that are suitable for families in areas which have a high owner-occupier ratio, particularly houses, as these are less subject to potential taxation changes.
3) High-rise units simply carry a higher level of risk. This is driven by areas which have oversupply of units, often flagged as Danger Zones. However, the newly emerging threat of construction defects and combustible cladding has added an addition layer of risk for investors. For the same amount of money investors can usually buy a house in the middle or outer rings which will present much less risk and is more likely to enjoy solid capital gains down the track due to the long-term appreciation of land values.
4) Capital growth should be the key driver for investor decisions, rather than cash flow. A RiskWise five-year analysis of the property market earlier this year demonstrated that high rental yields generally deliver low overall returns for investors. Our analysis proved that, over the medium to long term, low rental returns delivered significantly higher overall return (i.e. capital growth + rental return), while high rental returns delivered lower ones overall. What it means is people who invest in very affordable suburbs that carry a high level of rental return, with the expectation of strong overall growth, achieve exactly the opposite result. The analysis showed, under the assumption of a 20 per cent deposit, that low-rent houses would increase their net equity by 63.1 per cent. Conversely, high-return houses would increase their net equity by only 29.5 per cent. This means low-rent houses increased their equity by more than twice that of the high-rent ones.
5) Undersupply of houses in Sydney and Melbourne is a systematic issue. With high population growth in both these capital cities, undersupply of family-suitable dwellings, mainly houses and, to a lesser extent, townhouses will drive property values and is likely to create strong long-term growth in prices. What it means is supply has been unable to keep pace with strong demand. While there has been a large supply of units in high-rise buildings, these are generally unsuitable for owner-occupiers and are largely rental properties. This imbalance in dwelling construction has been a major contributing factor to housing affordability challenges, remembering that rental properties and owner-occupied ones are not fully substitute products. Overall, investors are more likely to benefit more from buying houses in the middle rings and the outlying areas of these cities, provided there are adequate transport solutions and access employment.
DORON PELEG is the CEO of RiskWise
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Five lessons from Australia's recent real estate downturn: RiskWise's Doron Peleg

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Australia’s residential property developer, AVJennings, has signed a five-year deal with TechnologyOne.
The move – which forms part of the developer’s digital transformation strategy – will see a knock-down-rebuild of almost all of AVJennings’ major enterprise applications.
It’s all aimed at providing a simpler, unified and modern technology foundation for the organisation and its highly mobile, geographically diverse workforce spread throughout New South Wales, Victoria, Queensland and New Zealand.
The residential property leader is a new customer for TechnologyOne. 
AVJennings Chief Financial Officer, Larry Mahaffy, was seeking an integrated and efficient solution that promised better visibility of the multi-million dollar projects its manages. 
“We understand better than most how complex big projects with multiple stakeholders can be. We don’t want that complexity in our technology systems, we want simplicity,” Mr Mahaffy said. 
AV Jennings will replace a series of legacy software applications across financials, document management, asset and capital management, and human resources including payroll with TechnologyOne’s whole-of-business solution.
Ed Chung, TechnologyOne’s Chief Executive Officer said implementation is expected in October 2020.
“We heavily invest in research and development to bring pre-configured industry solutions to market. This delivers real value to our customers through implementations that are faster, lower in cost and with reduced risk,” said Mr Chung.
”To have AVJennings select our solution is a testament to our enterprise vision that spans across several vertical markets.” he said.
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AV Jennings signs with TechnologyOne to build its digital transformation

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An expansive modern home in Oatley has been sold for $2,421,000.
Situated at 78a Waratah Street, the narrow (but freestanding) house features six bedrooms, four bedrooms, double garage, and small lawn.
It sits on a 505 square metre block.
The home had not previously sold since it was built.
Oatley's median house price is $1,555,500.
Andrew Stefanovski and Bobbi Trajkovski, from Laing+Simmons St George, listed the property.
 
 
 
 
 
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Oatley home sells for almost $2.5 million

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A Carlton unit has sold for $680,000 at weekend auction. 
The two-bedroom apartment, at 6/2 Carnarvon Street, features two car spaces, a large balcony, and a single bathroom.
There is 149 square metres of internal floorspace (not including the balcony).
It came onto the market with a price guide of between $600,000 and $650,000.
It previously traded in 1998, when it sold for $225,250.
Carlton's median unit price is $645,000.
John Kastellorios, from Laing+Simmons St George, listed the property. 
 
 
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Carlton unit sells at weekend auction

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An Artarmon apartment has sold at auction for $1,027,000, comprehensively exceeding the listed price guide of $850,000.
The home, at 40/8 Buller Road, features two bedrooms, one bathroom, and an internal garage.
There is 108 square metres of internal floor space, and Artarmon train station is 408 meters away.
The unit had not previously traded since 1988, at which time it sold for $145,000.
Artarmon's median unit price is $852,000.
Catherine Ong, from Laing+Simmons Artarmon, listed the property.
 
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Artarmon apartment sale exceeds expectations

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.

&nbsp;

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.

[smartcode_project:default project_id=151449 project_image_fid=357458]

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."

[smartcode_project:default project_id=151449 project_image_fid=357463]

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.

[smartcode_project:default project_id=151449 project_image_fid=357469]

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>.

[smartcode_project_cta:default project_id=151449]

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.

[smartcode_project:default project_id=134951 project_image_fid=368645]

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."

[smartcode_project:default project_id=134951 project_image_fid=358802]

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.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<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.

[smartcode_project_cta:default project_id=134951]

Staff reporter

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