<html><body>
<div class="OutlineElement Ltr SCXW104706133 BCX4">
A historical retail strip on the Mornington Peninsula has been listed for sale, marking the first time it will change hands in over 90 years.  
</div>
<div class="OutlineElement Ltr SCXW104706133 BCX4">
<a href="https://www.realcommercial.com.au/for-sale/mornington-peninsula-vic/retail/" target="_blank">The Broadway, 1015-1021 Point Nepean Road, Rosebud</a> comprises six retail shops totaling an NLA of 867 sqm located in the heart of Rosebud.
</div>
<div class="OutlineElement Ltr SCXW104706133 BCX4">
CBRE has it listed on behalf of Paul and Lloyd Whittaker.  
</div>
<div class="OutlineElement Ltr SCXW104706133 BCX4">
Since the building’s completion in 1928, it has operated as The Broadway Theatre cinema, a dance hall frequented by American servicemen during wartime and a popular disco in the 1960s before being converted to retail use. 
</div>
<div class="OutlineElement Ltr SCXW104706133 BCX4">
“The Broadway is steeped in a rich history that our family is very proud to have been part of, from our father Frank Whittaker opening the first cinema on The Mornington Peninsula in the late 1920s to the multiple performances by the famous John Farnham held on The Broadway’s stage in the late 1960s,” Paul Paul Whittaker commented. 
<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/2019/9/25/DSC_1804a.jpg" alt="">
</div>
<div class="OutlineElement Ltr SCXW104706133 BCX4">
The retail corner, currently leased to tenants including Fight Centre and the popular Foyer Café, is anticipated to generate a fully leased annual income of circa $250,000.  
</div>
<div class="OutlineElement Ltr SCXW104706133 BCX4">
Situated on a 1,241sqm parcel of land, the site has combined frontages of over 90 metres to Point Nepean Road, Rosebud Parade and Wannaeue Place. 
</div>
<div class="OutlineElement Ltr SCXW104706133 BCX4">
“The Mornington Peninsula continues to strengthen as an investment location due to the high level of capital invested by local businesses,” Mr Hage said.  
</div>
<div class="OutlineElement Ltr SCXW104706133 BCX4">
CBRE has handled 24 of the 31 investment transactions that have taken place on the Mornington Peninsula since 2016, notably Sportsgirl Sorrento, which sold earlier this year to a Melbourne based family for $4,070,000 (36 per cent above the vendor’s reserve) and the Peninsula Cinema Portfolio (Rosebud and Sorrento) that was sold on behalf of the prominent Kirby family for a combined amount of almost $10 million. 
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Historic Mornington Peninsula retail strip, The Broadway offered after 90 years

<html><body>
There are five major market movements that will affect how the Australian infrastructure investment boom is set to peak in 2020, combined with new trends in e-commerce, manufacturing, logistics, and location, according to a new report from Centuria Capital Group (Centuria).
The report found, industrial property has been the most in-demand real estate sector globally for the past two years, and the combination of domestic and international demand for properties in Australia has seen sustained growth in asset values and rents.
It was written by Centuria’s recently appointed Head of Funds Management, Ross Lees, who looked into the factors driving returns from industrial real estate in Australia, and explaied why the outlook for the sector is increasingly positive.
Within the report he notes, prime industrial rents in Sydney are predicted to increase by 7.8% - 12.5% over the next three years, while yields are likely to tighten by 15-25 basis points and values likely to increase by 10.5%-15.2% because economic and social forces at play providing significant tailwinds for industrial property.
"With infrastructure spend peaking next year – and a strong link between infrastructure spend, the economy and industrial property – infrastructure investment will make a significant difference to demand for industrial assets."
"The current infrastructure program is different from the last major spend, on the M7, which opened up new land and allowed for new cheap industrial property to be built cheaply in the newly-serviced areas – creating a net negative for industrial property."
"The current spend, conversely, is happening inside the band – on transport in particular. The consequences for industrial property are likely to be very different."
"Not only is no new land being ‘opened up’ but industrial space is being taken out of the market to allow for the light rail – reducing supply and pushing up prices. This is already happening according to the latest figures – despite our weaker economy."
Another factor is E-commerce’s role in industrial property’s positive fundamentals has also been apparent for some time as it has fueled increased demand.
For every sqm lost in bricks and mortar retailing, 3sqm of warehousing is required. 
The report noted, it is also one of several drivers that have created a global focus on logistics and the importance of supply chain management as a competitive advantage, as well as boosting ‘clean’ manufacturing, customers’ demand for fast delivery, so-called ‘last mile logistics’ has been identified as a key differentiator, and means that warehouses located too far from consumers are less in demand than smaller warehouses closer in.
Meanwhile, clean manufacturing is on the rise – automation, robotics and AI are helping Australian manufacturers control two of their long-standing challenges, high labour costs, the need for scale in a small market and distance to market.
In all, Australian industrial property is on the precipice of strong growth, Centuria concluded.
<a href="https://centuria.com.au/news-and-media/how-australias-2020-infra-peak-will-fuel-industrial-property/" target="_blank"> Read the full report here</a>. 
</body></html>

Why Australia's industrial infrastructure boom is set to peak in 2020: Centuria

<html><body>
A St Ives house, at 7 Bimburra Avenue, has sold for $4.55 million pre-auction.
The five-bedroom home features four bathrooms, a double garage, acustomised wine cellar room with 340 bottle storage, expansive lawns, and a large pool.
It is situated on a 1,050 square metre block, and has 410 square metres of internal floorspace. 
The home was completely rebuilt last year by developers Homestead Homes, who purchased the property for $2.25 million.
St Ives median house price is $1.85 million.
Another five-bedroom home, at 50 Cowan Road, represents the suburb most expensive home, having sold in mid-2018 for $10.5 million.
David Walker and David Beveridge, from Ray White Upper North Shore, listed the Bimburra Avenue property. 
 
 
</body></html>

Bimburra Avenue, St Ives trophy home sold for $4.55 million

<html><body>
A two bedroom St Peters terrace auction was brought forward by a week to sell for $985,000.
It ranked as the second most-viewed property in the country after its listing on realestate.com.au.
Over 180 individual groups came through the home.
The dilapidated 69 Sutherland Street terrace is so run down the selling agent had attendees had sign a waiver to enter at their own risk. 
<img src="https://www.urban.com.au/images/2019/11/8/st%20peters%20.png" alt="">
It has three bedrooms, and sits on a 117 square metre block. It was built in 1979. 
There was an initial $700,000 price guide through RRE Properties’ Michael Michos and Jim Michos who said it sold for $240,000 over reserve.
<div>
The property has missing floors, damaged walls, holes in the ceiling and no indoor toilet - It was marketed as "a blank canvass with great fundamentals."
St Peters's median house price is $1.09 million, however the inner-west suburb has not seen the downturn present in much of the country.
 
</div>
</body></html>

Dilapidated St Peters terrace sells for almost $1 million

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<div title="Page 1">
<div>
<div>
<div>
Sydney has its second busiest auction week of the year, with vendors securing a preliminary clearance rate of 81 percent, according to CoreLogic.
<div title="Page 1">
<div>
<div>
<div>
There were 931 homes taken to auction across Sydney over the week with some 600 plus on Saturday.
The previous week saw a final clearance rate of 74 percent across 843 auctions. 
One year ago, 844 auctions were held across Sydney returning a 42 percent clearance rate.
<img src="https://www.urban.com.au/images/2019/11/8/Clearance%20nov%208.JPG" alt="">
The top reported national sale was in Sydney's Strathfield at $4.85 million.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
The five bedroom <a href="https://www.belleproperty.com/listings/832374/8-cotswold-road-strathfield-nsw-2135/" target="_blank">8 Cotswold Road European style offering </a>(pictured below) through Belle was built in 2007 with 500 sqm internal living space.
It last sold at $2.85 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/2019/11/8/strathfield.jpg" alt="">
Adelaide had the cheapest sale across all the capitals at $275,000 at Kersbrook under instructions of the public trustee.
Primrose Cottage had an auction guide of $290,000 through Harcourts.
The two bedroom 1940s cottage sat on 2000 sqm at <a href="https://harcourtssergeant.com.au/1p10017/" target="_blank">22 Scott Street</a> (pictured below). 
<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/2019/11/8/kersbrook.jpg" alt="">
Sydney's cheapest auction sale was $410,000 for a Newtown studio, a 39 sqm second floor corner position 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. 
There were 2,375 homes taken to auction across the combined capital cities this week," Kevin Brogan, CoreLogic auction analyst said.
It was up from 1,555 over the previous week.
Preliminary results show a national clearance rate of 72 per cent, after last week’s final clearance rate dropped to 68 percent.
"Once the remaining results are collected, the clearance rate will likely revise below 70 per cent for the second week in a row," Kevin Brogan said.
One year ago, 2,386 auctions were held across the combined capitals, with only 43.3 per cent returning a successful result.
<div title="Page 1">
<div>
<div>
<div>
Melbourne saw 1,016 homes taken to auction this week, returning a preliminary clearance rate of 70.8 per cent.
Over the same week last year, a clearance rate of 46 per cent was recorded across 1,127 auctions.
<div>
The dearest sale in Melbourne was in Malvern at $4.75 million.
The four bedroom <a href="https://www.rtedgar.com/property/30-elizabeth-street-malvern-vic-3144/37646/" target="_blank">30 Elizabeth Street house</a> (pictured below) sold, soon after its auction, through RT Edgar who had offered $4.6 million price guidance based on sales.
<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/2019/11/8/malvern.jpg" alt="">
Melbourne's cheapest sale was $292,000 at Newport.
The <a href="https://www.hockingstuart.com.au/property/4-29-schutt-street-newport-vic-3015-174190" target="_blank">4/29 Schutt Street offering</a> (pictured below) was a one bedroom garden apartment through Hocking Stuart.
<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/2019/11/8/newport.jpg" alt="">
</div>
AMP Capital chief economist Shane Oliver noted Melbourne "looks to have cooled a bit from September, especially relative to Sydney."
He also said sales volumes was up from lows "but still well down from boom time highs."
</div>
<div>
Across the smaller auction markets, Canberra and Perth saw an increase in auction volumes week-on-week while Adelaide, Brisbane and Tasmania saw fewer homes taken to auction over the week.
There was a big sale on the Gold Coast when<a href="https://www.propertyobserver.com.au/https://raywhitebroadbeach.com/properties/residential-for-sale/qld/benowa-waters-4217/house/2191120" target="_blank"> the Benowa Waters family home</a> (pictured below) of late developer Con Nikiforides has sold under the hammer for $2.728 million.
<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/2019/11/8/benowa%20waters.jpg" alt="">
The Gold Coast Bulletin reported that three of the four registered bidders got to bid at the auction.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Sydney mid-November auctions far stronger than Melbourne

<html><body>
A North Bondi residential development offering has fetched $5.825 million under the hammer in front of 50 people. 
There were eight registered bidders for 120 Hastings Parade. The freestanding house north facing sits on a 474sqm parcel with an extra wide street frontage.
<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/2019/11/8/north%20bondi%202.jpg" alt="">
 The property also has a development approval to create 2 x 3 storey semis.
The sale was through Ray White Double Bay agent Daryl Rosen.
<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/2019/11/8/north%20bondi%203.jpg" alt="">
</body></html>

North Bondi beach house with developmental approval sold for $5.825 million

<html><body>
There are two basic components to the Morrison government’s latest A$1 billion package response to the drought affecting large parts eastern Australia. One part involves extra subsidies to farmers and farm-related business. The other involves measures to create or upgrade infrastructure in rural areas.
Unfortunately, most funds will be misdirected and the response is unlikely to secure the long-term prosperity of regional and rural communities. This is a quick fix to a political problem, appealing to an important constituency. But it misses the point, again, about the emerging economics of drought.
<h2>Hitting the political target</h2>
The bulk of the A$1 billion package is allocated to a loan fund. The terms of the ten-year loans are more generous than what has been offered in the past. They are now interest-free for two years, with no requirement to start paying back the principal till the sixth year.
Farmers will be able to borrow up to A$2 million. In addition, loans of up to A$500,000 will also be available to small businesses in drought-affected towns.
Because recipients are not having to pay the full cost, these loans are in practice a form of subsidy.
Subsidies are used by government to make more people undertake an activity than would otherwise be the case. In this case the government is offering a subsidy to keep farmers and small businesses owners doing what they’ve been doing, even though from an economic point of view this might not be very wise at all.
The question that should be asked is: “do we want more or fewer people to be involved in a farming activity that is vulnerable to drought?”
Most farming in Australia is completely reliant on rainfed crops and pastures. Rainfall is already highly variable. All the indicators from climate science is that rain will be even more unreliable in the future.
In addition, the agricultural industries currently drought affected are not just at the whims of rainfall. These industries are constantly changing and being affected by new technologies and market forces.
For most agricultural produce the key market force is price. Sure, some farms and farmers can carve out niche markets, but most farm businesses depend on producing at lowest cost. Increasingly, the farms that survive in a highly competitive global environment do this by exploiting economies of scale. Big farms are thus more profitable than small ones in the good times (such as when it rains); and during the tough times (such as during drought) they have more resources and deeper reserves to ride it out.
Ultimately, this means successful farms are continually getting bigger and small farmers are getting squeezed out.
The data also support the view that the farmers who survive and are simultaneously exposed to drought <a href="https://onlinelibrary.wiley.com/doi/10.1111/1467-8489.12195" target="_blank">ultimately become even more profitable</a>, because of what they learnt about managing in a difficult environment.
This is not to argue drought is a good thing for any farm, but it does raise a serious question about any government policy that effectively encourages more people to keep doing something when global and technological forces would point to it being unsustainable.
<h2>So what’s the point?</h2>
The second component of the Morrison government’s relief response involves directing about A$500 million from existing regional infrastructure funds into building roads and other things into affected communities.
While many will welcome this on top of the the extension of loans to small business in country towns, the policy detracts from the serious questions that confront rural and regional communities.
The economics of agriculture has flow-on effects to towns, but it would be wrong to think all are impacted in the same way.
As a general rule, when farmers sell up, they tend to leave from the small communities first. The upshot is that small communities get smaller, older and poorer as those least mobile are left behind. These people also generally require more, not less, public support. Mid-size communities tend to level out, while continuing to age. Large regional centres tend to grow and prosper.
The point is that each community requires different things from government. Genuine public goods like roads, health services and education are desperately needed and undersupplied in many cases. Providing cash to a few select businesses and grading a gravel road in this situation belies the complexity of the long-term challenges and fails to address serious issues.
An elderly retiree in a rural town might well ask why their local road or bridge is only upgraded during a drought. Surely, government should focus on providing legitimate public goods for the long term, regardless of the weather.<img src="https://counter.theconversation.com/content/126583/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/lin-crase-9904" target="_blank">Lin Crase</a>, Professor of Economics and Head of School, <a href="http://theconversation.com/institutions/university-of-south-australia-1180" target="_blank">University of South Australia</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/australias-drought-relief-package-hits-the-political-spot-but-misses-the-bigger-point-126583" target="_blank">original article</a>.
</body></html>

Australia’s drought relief package hits the political spot but misses the bigger point

<html><body>
There are $13 million hopes for the latest offering on Avalon Beach.
It is a five bedroom pavilion style home on an absolute beachfront with a 1,821sqm block.
Set under Norfolk Pines, the Marine Parade home last sold at $9.24 million in 2015.
It has been listed by the former SurfStitch founder Justin Cameron ands his wife Courtney who bought it from Greg Martyr, who sits on the board of advanced 3D manufacturer WarpForge.
<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/2019/11/8/avalon%202.jpg" alt="">
It holds the beachside record, with two sales above $7 million in the meantime.
Avalon Beach, where there is a $1.7 median house price, has 57 properties for sale.
<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/2019/11/8/avalon%203.jpg" alt="">
Based on five years of sales, Avalon Beach has seen a compound growth rate of 7.2 percent for houses, according to realestate.com.au.
The northern beaches was the weekend's best selling locality with a 94 percent success rate from its 55 results.
</body></html>

Avalon Beach beachfront pavilion style home hits the market 

<html><body>
GUEST OBSERVATION
There is a phrase in the novel East of Eden that springs to mind every time politicians speak of “drought-proofing” Australia: 
"And it never failed that during the dry years the people forgot about the rich years, and during the wet years they lost all memory of the dry years. It was always that way."
While author John Steinbeck was referring to California’s Salinas Valley, the phrase is particularly pertinent to Australia where the <a href="http://www.bom.gov.au/climate/updates/articles/a020.shtml#targetText=La%20Ni%C3%B1a%20occurs%20when%20equatorial,and%20eastern%20tropical%20Pacific%20Ocean.&amp;targetText=As%20a%20result%2C%20heavy%20rainfall,to%20the%20north%20of%20Australia." target="_blank">El Niño-Southern Oscillation</a> exerts a profound influence. Water availability varies greatly across the country, both in space and time. El Niño conditions bring droughts and devastating bushfires, while La Niña is accompanied by violent rainfall, floods and cyclones.
This variability is innate to the Australian environment. And now, climate change means that in some regions, the dry years are becoming drier and the wet years are becoming less frequent. Managing water resources under a changing climate and burgeoning population requires innovative and realistic solutions that are different to those that have worked in the past.
Drought-proofing is impossible
Planning for the dry years involves setting sustainable usage limits, using more than one source of water, efficiency improvements, managed aquifer recharge, water recycling and evaluation of the best usage of water resources. It does not <a href="https://newsroom.unsw.edu.au/news/social-affairs/australia-should-never-be-%E2%80%98drought-proofed%E2%80%99-again" target="_blank">involve misleading claims of drought-proofing</a> that infer we can somehow tame the unruly nature of our arid environment instead of planning and preparing for reality.
Unlike managing for the wet and dry periods, drought-proofing seeks to negate dry periods through infrastructure schemes such as large dams (subject to huge evaporative losses) and dubious river diversions. It fails to acknowledge the intrinsic variability of water availability in Australia, and modify our behaviour accordingly.
The reality is that in many parts of the country, <a href="http://www.groundwater.com.au/media/W1siZiIsIjIwMTQvMDMvMjUvMDFfNTFfMTNfMTMzX0dyb3VuZHdhdGVyX2luX0F1c3RyYWxpYV9GSU5BTF9mb3Jfd2ViLnBkZiJdXQ/Groundwater%20in%20Australia_FINAL%20for%20web.pdf" target="_blank">groundwater is the sole source</a> of water and the climate is <a href="http://www.bom.gov.au/water/waterinaustralia/" target="_blank">very dry</a>. A cornerstone of the recently launched <a href="https://minister.infrastructure.gov.au/mccormack/media-release/national-water-grid-authority-future" target="_blank">$100 million National Water Grid Authority</a> is the construction of more dams. But dams need rain to fill them, because without rain, all we have is empty dams. And we have enough of those already.
A history of denial
Just because Dorothea Mackellar wrote of “droughts and flooding rains” over 100 years ago, it doesn’t mean water management should proceed in the same vein it always has.
Australia has always had a variable climate, which changes significantly from year to year and also decade to decade. This not the same as a <a href="https://www.pacificclimatefutures.net/en/help/climate-projections/understanding-climate-variability-and-change/#targetText=Climate%20is%20the%20long%20term,trend%20in%20the%20mean%20climate." target="_blank">long-term climatic trend</a>, better known as climate change.
Climate change is making parts of Australia even drier. Rainfall in the south-eastern part of Australia is <a href="https://publications.csiro.au/rpr/download?pid=csiro:EP127070&amp;dsid=DS3" target="_blank">projected to keep declining</a>. We cannot rely on blind faith that rains will fill dams once more because they have in the past.
Yet inevitably, during the dry years, claims that Australia can be “drought-proofed” are renewed. Deputy Prime Minister Michael McCormack <a href="https://minister.infrastructure.gov.au/mccormack/media-release/national-water-grid-authority-future" target="_blank">recently praised </a>the <a href="https://go-gale-com.ezp.lib.unimelb.edu.au/ps/retrieve.do?tabID=T002&amp;resultListType=RESULT_LIST&amp;searchResultsType=SingleTab&amp;searchType=AdvancedSearchForm&amp;currentPosition=3&amp;docId=GALE%7CA202253089&amp;docType=Essay&amp;sort=Relevance&amp;contentSegment=ZAHD&amp;prodId=PPWH&amp;contentSet=GALE%7CA202253089&amp;searchId=R1&amp;userGroupName=unimelb&amp;inPS=true" target="_blank">Bradfield scheme</a>, an 80 year old infrastructure project intending to divert northern river flows inland. It has been <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-06-18/fact-file-bradfield-scheme-drought-relief/11216616" target="_blank">so thoroughly debunked</a> on all scales, it is better described as a pipe-dream than piping scheme. It has no place in reasonable water management discourse.
The concept of drought-proofing harks back to the days of European settlement. Early water management techniques were more appropriate for verdant English fields than the arid plains of Australia.
In the early twentieth century, water resources were vigorously developed, with government-sponsored irrigation schemes and large dams constructed. During this time, little thought was given to sustainability. Instead, the goal was to stimulate inland settlement, agriculture and industry. Development was pursued despite the cost and ill-advised nature of irrigation in particular areas.
Shifting long entrenched perceptions of water management
All this said, irrigation certainly has its place: it supports a quarter of Australia’s agricultural output. And there are substantial efforts underway to rebalance water usage between irrigation and the environment.
However, acknowledgement of the relative scarcity of water in certain parts of Australia has only really occurred in the last 30 years or so.
Widespread droughts in the <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/lookup/1301.0Feature%20Article151988" target="_blank">late 1970s and early 1980s</a> highlighted the importance of effective water management and shifted long-entrenched perceptions of irrigation and development. <a href="https://www.propertyobserver.com.au/https://www.crcpress.com/Water-Policy-in-Australia-The-Impact-of-Change-and-Uncertainty/Crase/p/book/9781933115986" target="_blank">Water reforms were passed</a>, mandating future water development be environmentally sustainable development, which meant, for the first time, water resource management sought a balance between economic, social and environmental needs.
Antiquated ideas about drought-proofing, pushed by politicians, promise much yet deliver little. They distract attention and siphon funds from realistic solutions, or actually re-evaluating where and how we use our limited water resources.
We need practical, effective and well-considered management such as water recycling, efficiency measures and source-divestment that accounts for both shorter term climatic variability and long term changes in temperature and rainfall due to climate change. A big part of this is <a href="https://www.wentworthgroup.org/docs/Can_We_Myth_Proof_Australia.pdf" target="_blank">managing expectations through education</a>.
Attempting to drought-proof Australia is not “managing for the dry periods”, as advocates claim. It is sticking our heads in the dry, salty sand and pretending the land is cool and green and wet.<img src="https://counter.theconversation.com/content/124504/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;">
Emma Kathryn White, PhD Candidate, Infrastructure Engineering, 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/we-cant-drought-proof-australia-and-trying-is-a-fools-errand-124504" target="_blank">original article</a>.
</body></html>

We can’t drought-proof Australia, and trying is a fool’s errand

<html><body>
The Darwin property market, on the back of a sustained period of contraction from 2016 onwards, is still suffering across all facets of the residential market and the investor segment is no different, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
The report suggests several factors directly affecting this range from the tightening lending practices aimed at interest only loans, contraction of capital values, population decrease and a general oversupply of both unit and dwelling stock.
These aspects are troubling however it is a general consensus among all professionals in the property industry that a dramatic correction needed to occur to cool off the over inflated house prices and rentals.
For standard dwellings, rental yields generally sit at 4.6%, according to the REINT, which is slightly above the average seen in other Australian capital cities.
During the peak period of the recent mining boom, high rents on corporate long-term leases reflected yields of 7% to 8% which were driving strong investor demand.
"Since this period, we have seen a dramatic contraction in terms of annual returns and a greater chance of minimal capital growth," the valuation firm said. 
"Investor activity in this segment as a result has dramatically declined, with a small percentage of investors taking up the Defence Housing sale and leaseback scheme."
The scheme offers a long term nine-year plus three-year term at a yield of 5.2%.
This guaranteed income provides an attractive option where vacancy rates and the possibility of rental price weakening may be a determining factor.
The trade-off is a high management fee of 16.5%.
With regard to unit stock, traditionally investor activity in Darwin has been directly linked to large gas and mining projects requiring accommodation for transitory workers.
These long-term leases with attractive yields have certainly diminished with the completion of the construction phase of the Ichthys Inpex Gas Project in late 2018.
"This type of investment did achieve quite high yields, however obviously at higher risk," the valuation firm stated. 
The median unit price in Darwin now sits at $325,000 which is 15% lower than mid-2018 however the transaction levels have improved by a similar percentage.
These factors may indicate there is some faith returning to this section of the market.
With every situation, there is a silver lining and generally low capital values present many opportunities for investors looking to purchase in the Territory.
In addition, latest results for residential dwellings across the entire Darwin market have shown a stable median price of $500,000 (from mid 2018) which does indicate the market is slowly returning to a healthier state.
This is mirrored in transaction volumes improving slightly by 5% from June 2018, according to REINT.
"For investors looking to take advantage of weak prices, the Darwin CBD has the most options available," the valuation firm commented. 
Dated one-bedroom stock can be purchased from the early $100,000 mark which is almost half the price at the peak of the market in 2014.
An entry level unit of this type would typically rent for $230 per week which translates to an extremely attractive gross rental yield of 9.5%.
At a step slightly higher in value, a recent three-bedroom, two-bathroom sale of a semi-modern inner city unit in Stuart Park sold for $265,000.
This unit sold with a gross rental yield of 7.8%, a strong indication that there are opportunities for investors to get a solid return on investment.
These returns in the private sector are subject to market movement and susceptible to the particular terms of the landlord and tenant, factors which must be taken into account.
These types of leases are typically for periods of one year, with management fees of around 8% to 12% per annum.
"So how does Darwin fare for investors? Looking purely at returns, Darwin does offer attractive options being on average slightly stronger than the other capital cities (source: Core Logic, April 2019)," the valuation firm said. 
"The economic downturn has made a significant change in the property landscape, greatly decreasing values across the board and therefore increasing the opportunity for a good buy.
"Coupled with traditionally strong rentals, we do consider Darwin a good place for investors if they are willing to put the time and effort into researching the prospective purchase.
"Southern investors wishing to chase a capital return may face some dilemma however, with limited growth expected in the short to medium term." 
</body></html>

Darwin residential market slowly returning to a healthier state: 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.

&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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News