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GUEST OBSERVATION
Australia’s Aged Care Quality and Safety Commission found 45 of Bupa’s 72 nursing homes failed health and safety standards. In 22 homes the health and safety of residents was deemed at ‘serious risk’.
British health-care conglomerate Bupa runs more nursing homes in Australia than anyone else. We now know its record in meeting basic standards of care is also worse than any other provider.
This is more than a now familiar story of a corporation putting shareholders before customers. It is also about another abysmal design failure in regulation.
Health care is meant to be one of our most regulated sectors. In this case, Bupa’s facilities were inspected and certified by the Aged Care Quality and Safety Commission.
The regulator’s inspectors found <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-09-12/bupas-aged-care-homes-failing-standards-across-australia/11501050" target="_blank">45 of Bupa’s 72 nursing homes</a> failed health and safety standards. In 22 homes the health and safety of residents was deemed at “serious risk”. Thirteen homes were “sanctioned” – with government funding being withheld and the homes banned from taking new residents.
Yet none of this appears to have spurred Bupa’s management into action, <a href="https://www.theguardian.com/australia-news/2019/sep/12/something-is-wrong-at-the-top-how-bupas-aged-care-homes-hit-rock-bottom" target="_blank">according to media reports</a>. Flurries of inspection reports and written warnings over months and years only underlined that the regulatory tiger, even if it had teeth, had a very soft bite.
Responsive regulation
We have seen examples of equally insipid regulation in other areas. In the building sector, for example, a range of regulatory flaws including <a href="https://theconversation.com/there-are-lessons-to-be-drawn-from-the-cracks-that-appeared-in-sydneys-opal-tower-but-they-extend-beyond-building-certification-109428" target="_blank">outsourced building certification</a> have led to shoddily built and dangerous apartment construction.
In the financial sector, the banking royal commission castigated the industry regulators – the Australian Securities and Investments Commission and the Australian Prudential Regulatory Authority – for their unwillingness to enforce rules.
“The conduct regulator, ASIC, rarely went to court to seek public denunciation of and punishment for misconduct,” <a href="https://www.smh.com.au/business/banking-and-finance/weak-watchdog-slammed-for-reluctance-on-enforcement-20180927-p506fx" target="_blank">noted royal commissioner</a> Ken Hayne. “The prudential regulator, APRA, never went to court.”
This failure is due to more than individual agency shortcomings. It’s an unintended consequence of the design of “responsive regulation” – the system that has superseded command-and-control regulation over the past three decades.
Responsive regulation was popularised by Australian sociologist John Braithwaite and American law professor Ian Ayres in the early 1990s. It was intended to overcome the pitfalls of the command-and-control model, which involved regulators employing large numbers of inspectors to look for non-compliance.
From about the 1970s it had become increasingly evident this model wasn’t working. It was also very expensive. Consider, for example, the cost of having fire and health and safety inspectors visit every single building site, particularly when most builders were doing the right thing. The cost and intrusiveness of the system fuelled calls to do away with regulation .
Too big to fail
Ayers and Braithwaite saw their model as a way forward. “Responsive regulation is not a clearly defined program or a set of prescriptions concerning the best way to regulate,” <a href="http://johnbraithwaite.com/wp-content/uploads/2016/06/Responsive-Regulation-Transce.pdf" target="_blank">they explained</a>. “On the contrary, the best strategy is shown to depend on context, regulatory culture and history.”
Responsive regulation assumes that in most cases the enterprises being regulated are interested in compliance and will respond to light-touch directives. It assumes that often compliance failures are due to ignorance or inadequate procedures. Its approach is to give parties a chance to amend their ways.
But there’s a potentially huge flaw in the responsive regulation model. What happens when an organisation is so large it is deemed too big to fail, or deems itself so?
<hr>
<img src="https://images.theconversation.com/files/292165/original/file-20190912-190050-geqsg1.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
How Ian Ayres and John Braithwaite conceived the enforcement pyramid in responsive regulation. The problem now seems to be that regulators want to stop halfway. <a class="source" href="http://johnbraithwaite.com/wp-content/uploads/2016/06/Responsive-Regulation-Transce.pdf" target="_blank">Responsive Regulation: Transcending the Deregulation Debate</a>
<hr>
This seems to have been the case with a number of financial companies whose misdeeds were exposed by the banking royal commission. It seems it might have been the case with Bupa.
In such cases, because of the timidity of the regulator or the confidence of the enterprise, the warnings might just go on and on. The company continues to book its profits – which may well eclipse any penalty it might have to pay if crunch time does ever come.
Markets have their limits
This design flaw highlights a more fundamental problem with governments positioning themselves as rule makers and leaving the rest to the “market”.
Markets are designed to facilitate exchange on the basis of profits. The profit motive means market participants look for the lowest-cost option. In aged care this means paying the lowest possible wages, possibly to unqualified staff, and cutting corners to cut costs.
Markets are very useful for increasing individual choices and efficiently allocating resources, but they are not suited to every task. They fail when factors other than profit ought to be considered.
We therefore need to think about the design of regulatory systems more holistically, as part of a broader social process.
The pioneers of responsive regulation certainly understood this. They emphasised flexibility, taking into account context, culture and history.
What those three things now tell us, given widespread regulatory failure across industries, is that government should not resist stepping in to provide important public services where the private sector cannot or will not do so at an acceptable level. Nor should it be afraid to act through empowered regulators, with resources and powers to fulfil their mandates.<img src="https://counter.theconversation.com/content/123442/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;">
Benedict Sheehy, Associate professor, University of Canberra.
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/bupas-nursing-home-scandal-is-more-evidence-of-a-deep-crisis-in-regulation-123442" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Bupa’s nursing home scandal is more evidence of a deep crisis in regulation: Benedict Sheehy

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Financial comparison site mozo.com.au has found new homeowners have been charged $10.5 billion in repair costs over the past decade due to poor construction standards.
Their <a href="https://mozo.com.au/home-loans/articles/property-pain-building-defects-report-2019" target="_blank">building defects report, Property Pain</a>, found owners were left battling leaks, cracks and an assortment of other issues.
The issues also found most new and newly renovated apartment and house owners surveyed were in a similar position, plagued by defects that have cost them $6,434 and $5,839 respectively.
<img src="https://www.urban.com.au/images/2019/9/2/Property%20Pain%20Infographics-Update_3-05-02.png" alt="">
Source: mozo.com.au
To deal with the issues 60% of apartment owners facing defects had to contribute to a sinking fund and 24% were forced to pay special levies to fund the repairs.
The findings come as regulators continue to grapple with the fall out over the serious safety issues plaguing apartments in Melbourne’s Southbank and Olympic Park, Erskineville, Zetland and Mascot in Sydney.
Mozo Property Expert Steve Jovcevski said: "While buying a bright and shiny new property might seem like a good idea, the reality for many Australians is one of costly repairs and years of remediation.
"While the average cost of apartment repairs was $6,434, Mozo found 4% of owners had to pay above $50,000.
"With 670,197 apartments completed in the past 10 years, Mozo estimates, buyers have had to pay out $4.3 billion on repairs."
<img src="https://www.urban.com.au/images/2019/9/2/Property%20Pain%20Infographics-Update_3-05-04.png" alt="">
Source: mozo.com.au
"Those buying houses fared slightly better on average forking out $5,839 on repairs," Jovcevski said.
"However, 32% had to pay more than $5,000. Mozo estimates that with 1,059,913 houses completed over the past decade, buyers have had to pay $6.2 billion on repairs.
"Most apartment repairs (57%) were completed in under three months but 21% had to wait up to six months and 9% are still waiting for the defects to be fixed.
"If you are still waiting to have your apartment or house repaired it’s time to act.
"With fixed building warranties across the country, once the regulated time period to claim has passed you’ll struggle to get a developer or builder to fix defects with your property."
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New home owners slugged with $10.5 billion building defects bill: Mozo

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Apartments in Broadbeach achieved 5.4% median price growth per annum during the past five years, according to market analysts Urbis.
Urbis found that the suburb's record price growth was bettered by only one capital city, Hobart, which gained 8% per annum.
The result comes on the back of a sharp spike of southern interest in the suburb, in particular from NSW.
Developer Andrews Projects for example reported a 300% increase in interstate enquiries for its Broadbeach towers – many from buyers aged 55-64 years.
The developer is constructing two apartment towers in the suburb, with works having recently commenced on 25-storey Encore Broadbeach and the 25-level Vue Broadbeach due to be delivered later this year.
Andrews Projects Sales Manager Sarah Andrews said interstate buyers were increasingly looking to purchase apartments in Broadbeach on the back of massive infrastructure investment in the suburb.
“We have been overwhelmed by the number of enquiries we’ve received from Sydney and New South Wales property buyers on the hunt for quality apartments in Broadbeach, particularly those aged 55 to 64 years with one eye on their post-retirement lifestyles.”
“Broadbeach has rightly become one of the best performing apartment markets in the country and we are pleased that our two towers will ensure more people get the chance to live in such a vibrant precinct,” she added.
Due for completion in late 2019, the $75 million Vue Broadbeach at 10-12 First Avenue, Broadbeach (pictured in title) features 71 apartments across 25 levels, with its penthouse having already fetched $5 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/2019/9/9/encore%20.jpg" alt="">
Meanwhile, Encore Broadbeach, which is located at 36-38 Britannia Avenue (pictured above), will feature 84 apartments with ocean and city skyline views.
Floor-to-ceiling double-glazed windows will wrap the entire building.
Due for completion in late 2020/early 2021, two and three-bedroom ocean view apartments are now selling from $599,000.
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NSW buyers trigger spike in Broadbeach apartment values

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Mosaic Property Group has commenced construction on Avalon a new multi-residential Maroochydore development.
The $106 million multi-residential development located on Duporth Avenue in Maroochydore comprises 86 apartments across two buildings.
It also consists of a range of amenities including a ground-floor café, health and wellness facilities, private pontoon access, resort pool and an concierge service. 
Avalon is situated in a north-east facing position directly on the shores of the Maroochy River. 
Mosaic Founder Brook Monahan said the development is the Group’s fourth development on the Sunshine Coast, and first for Maroochydore. 
“Over 70% of Avalon has now been sold, an incredible result at this stage of the project," he said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/24/Brook%20Monahan%20Mayor%20Mark%20Jamieson%20Cnr%20Jason%20OPray%20Dave%20Handley%20Brendan%20Dale.jpg" alt="">
Monahan said Avalon will create significant employment opportunity and drive economic growth for the area. 
Officially launched in late 2018, Avalon has reached over $67 million in sales, and receives ongoing interest from local and interstate buyers, Monahan said. 
There were recently new apartment releases within the building, including two-bedroom apartments starting from $560,000 and three-bedroom from $922,500.
Avalon by Mosaic is due for completion in early 2021.
<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/2019/7/24/01_Avalon_Azure_River%20Building.jpg" alt="">
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Construction commences at $106 million Avalon in Maroochydore 

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GUEST OBSERVATION
Well, the dust has finally settled on the new legislation regarding the changes to depreciation that will apply to second-hand residential properties.
In this article we will dig deep into some of the questions we have commonly been asked since the 9th of May 2017, when the changes were announced in the Federal Budget.
Before we get into the nitty gritty let’s begin with a quick recap.
Property investors who acquire a second-hand residential property after May 10, 2017, that contain “previously used” depreciating assets, will no longer be able to claim depreciation on those assets. Depreciating assets, in this case, refers to things like ovens, dishwashers, blinds, etc.
As you already know, in 2017, the rule book on depreciation changed massively.
The Federal Government successfully voted on new legislation to change the way depreciation works, representing the biggest move in the industry that I’ve ever seen – and I’ve been a quantity surveyor for over 25 years!
The changes were effective as at 9 May 2017 at 7.30pm, when the federal budget was handed down. As you can imagine, they have huge implications for property investors and more importantly, the property equation, which we’ll go into later.
So, how have things changed exactly?
The best way to understand it is to break the changes down into nine simple key points:
<ol>
<li>If you acquire a second-hand residential property from 10 May 2017, which contains ‘previously used’ depreciating assets, you will no longer be able to claim depreciation on those assets. This refers to the plant and equipment portion of a depreciation schedule, including: Ovens, Dishwashers, Lights, Air-conditioners. Televisions, Carpets, Lounge suites, Blinds, Common property plant and equipment items. 
</li>
<li>However, the building allowance, or claims on the structure of the building, has not changed at all. You will still need a depreciation schedule to calculate these deductions, which typically accounts for 85% of the overall construction cost. The structure includes things like brickwork and concrete so there’s no change to that. 
</li>
<li>Acquirers of brand-new property will carry on claiming depreciation in exactly the same way as they have done so to-date – for both plant and equipment and structure. This is great news for the property industry, because a lot of developers rely on depreciation as part of their marketing strategy to attract investors. The government resisted making changes to depreciation on brand-new property because it did not want to halt construction, which would have impacted upon the supply of new property. A downturn in the construction industry would also have a knock-on effect – if tradies are out of work, they aren’t paying tax! 
</li>
<li>If you renovate a house while living in it, then sell the property to an investor, the assets will be deemed to have been previously used and the new owner cannot claim depreciation on the plant and equipment. 
</li>
<li>The proposed changes do not apply if you buy the property in a corporate tax entity, super fund (note self-managed super funds do not apply here) or a large unit trust. In other words, you can still buy a second-hand property in a company name and claim depreciation on it. You can buy a second-hand property in a super fund – as long as it’s a large one – and a large trust can buy a property as long as it has 300 members or more, and claim depreciation on that property. 
</li>
<li>The proposed changes only relate to residential property. Commercial, industrial, retail and other non-residential properties are not affected, so you can still buy a second-hand office or similar and continue to claim the second-hand carpet, exactly as you could before. You can’t do this for residential property, as I’ve explained above. 
</li>
<li>If you engage a builder to build a brand-new house, or do the work yourself and it remains an investment property, you will still be able to claim depreciation on both the structure and the plant and equipment items. This is because it’s brand new, and was brand new when you put in that oven. Therefore, you can still claim it because the costs are known. 
</li>
<li>If you engage a builder to renovate a property – or you do the work yourself – and it is also being used as an investment property, you will still be able to claim depreciation on it when you have finished the renovations. As above, this is because the assets you install are brand new, therefore you can still claim. But if you bought a property renovated by someone else and they lived in it for six months or a year and then sold it – you can’t claim depreciation on the oven and dishwasher, etc. in the future, because they have now been previously used. See the difference? 
</li>
<li>While investors purchasing second-hand property can now no longer claim depreciation on the existing plant and equipment, they will have the benefit of paying less capital gains tax when they sell the property. How? Well, when they replace or remove an item of plant &amp; equipment they would have been able to claim in depreciation under the previous legislation, the opening value of the asset can be claimed as a capital loss.</li>
</ol>
In my opinion, it seems like a lot of work to get the same result. The new rules have just moved depreciation from one line of the budget to another!
The good news is that the new legislation is ‘grandfathered’. That means that for everyone out there with an existing depreciation schedule, you can continue to claim exactly as you have been doing. So, if you bought a property prior to the budget – 9 May 2017 – nothing has changed. And if you have bought an investment prior to this date, and you don’t have a depreciation schedule, there’s never been a better time to get one! You might not get these allowances again.
One final point on grandfathering; if you bought a property prior to the budget and it is owner-occupied, and then you move out after 1 July 2017 – you will not be able to claim depreciation on the plant and equipment in that property.
Those items will be deemed to be previously used and caught in the net of the changing legislation – even though you acquired the property prior to the budget. So, these changes are kind of ‘half grandfathered’ if you ask me.
You will, however, still be able to claim the building allowance in this scenario if the property was built after 1987.
TYRON HYDE is a director of quantity surveying firm Washington Brown.
Read the <a href="https://www.washingtonbrown.com.au/blog/depreciation-budget-changes/?utm_source=ONTRAPORT-email-broadcast&amp;utm_medium=ONTRAPORT-email-broadcast&amp;utm_term=&amp;utm_content=The+New+Rules+-+We+wanted+to+make+sure+you+know&amp;utm_campaign=17092019" target="_blank">original article</a>.
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Understanding new depreciation legislation on second hand residential property: Tyron Hyde

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A 21-year-old Melbourne woman is due to appear before Court today as part of investigations into a major fraud and identity theft syndicate, which resulted in alleged thefts from the superannuation and share trading accounts of innocent victims worth of millions of dollars.
The Australian Federal Police (AFP) and Australian Securities and Investments Commission (ASIC) have been conducting investigations into the multi-layered cybercrime activity for more than twelve months. This operation is now being conducted as part of the Government’s joint-agency Serious Financial Crime Taskforce (SFCT).
ASIC and the AFP allege the woman worked as part of a syndicate which used fraudulently-obtained identities to commit large-scale online fraud.  
It will be alleged the syndicate used stolen identity information purchased from dark net marketplaces, together with single use telephone SIM cards and fake email accounts, to undertake an ‘identity takeover’.
These identities, fraudulently created to mimic real individuals who unknowingly had their identities compromised, were then used to open bank accounts at various Australian banking institutions. Investigations have uncovered at least 70 bank accounts created using fraudulently-obtained identities to date.
Once the false identities and accounts were established, ASIC and the AFP allege the syndicate committed cybercrime offences to illegally steal money from the superannuation accounts of these victims, and from their share-trading accounts in ASX-listed companies.
Investigations are continuing to identify the number of affected victims and the scale of the alleged fraud, though it is expected to be worth millions of dollars. The superannuation companies and market participants involved are providing ongoing assistance to the investigation and the ASIC and AFP acknowledges their extensive cooperation to date.
ASIC and the AFP further allege the syndicate laundered the stolen funds through an overseas contact to purchase untraceable assets such as jewellery. It is believed the money was then transferred back to Australia through cryptocurrencies.
AFP Manager Cyber Crime Operations, acting Commander Chris Goldsmid, said this complex and detailed investigation revealed cybercrime occurring on multiple levels, and is an example of strong partnerships between Commonwealth Government agencies working together to disrupt organised crime that affects the Australian community.
“The consequences of the breaches we have discovered are far-reaching, and can be traced back to cybercrime offences that impact everyday Australians.
“From identity theft, where innocent victims have their personal details stolen and sold online in dark net marketplaces; to hacking and phishing – this investigation has illustrated the devastating impacts that compromise of your identity can have,” a/Commander Goldsmid said.
ASIC Deputy Chair Daniel Crennan, QC, said this matter highlights the challenging era of the digitalisation of the criminal economy.
“Cybersecurity threats such as data breaches and financial system attacks are a major concern for ASIC and we will continue to pursue not only cyber-related market and superannuation offending but also the need for institutions to maintain their obligations to ensure they have adequate cyber resilience,” he said.
Investigations into the syndicate are continuing, and further arrests and charges have not been ruled out.
The 21-year-old woman is due to be charged with a range of offences:
<ul>
<li>Conspiring to cause unauthorised access and/or modification of data - multiple offences (contrary to 11.5 and 477.1 of the Criminal Code Act 1995(Cth));</li>
<li>Conspiring to cause unauthorised modification of data knowing that the modification was unauthorised, and being reckless as to whether the modification will impair the reliability and security of the data – multiple offences; (contrary to 11.5 and 477.1 of the Criminal Code Act 1995 (Cth);</li>
<li>Conspiring to dishonestly take or conceal articles in the course of post, contrary to sections 11.5(1) and 471.3 of the Criminal Code Act 1995 (Cth);</li>
<li>Conspiring to dishonestly obtain property by deception, contrary to subsections 321(1) and 81(1) of the Crimes Act 1958 (VIC);</li>
<li>Dealing in proceeds of crime valued at AUD100,000 or more – multiple offences (contrary to section 400.4 of the Criminal Code Act 1995 (Cth);</li>
<li>Dealing in personal identification information – multiple offences (contrary to section 372.1 of the Criminal Code Act 1995 (Cth);</li>
<li>Dealing in personal financial information – Multiple offences (contrary to section 480.4 of the Criminal Code Act 1995 (Cth);</li>
</ul>
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Online fraud syndicate allegedly siphoning millions from shares and superannuation accounts: ASIC

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Sports broadcaster Bruce McAvaney and his TV producer wife Anne Johnson are moving to Paddington — but will not be staying for too long.
They’re downsizing from the recently listed Adelaide coastal home they have owned for two decades.
The couple are renting in Paddington as both begin work at Channel 7’s Eveleigh offices, ahead of covering the Olympic Games in Tokyo next year for the network.
Their Sydney rental search was somewhat dictated by their dog Frankie.
Proximity to walks in Centennial Park was a priority. Of the 34 rentals currently on the leasing market in Paddington, only eight are signalled pet friendly.
Paddington will be a change of pace for the empty-nesters, who have lived on the beach.
Their former four-bedroom Adelaide home in Glenelg South, southwest of the CBD, sits right on the beach. The couple will still own in the area, having bought an apartment up the road in the Ei8ht development, which is slated for completion next year.
McAvaney is known as Mr Olympics having commentated on every summer Olympics since Moscow in 1980. He has also commentated on 10 AFL grand finals over his four-decade broadcasting career.
This article was first published in the Saturday Telegraph.
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Sports broadcaster Bruce McAvaney takes rental in Paddington

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The RBA has expressed concern about the level of housing supply triggering price growth.
It noted there had been further signs of a turnaround in established housing markets, especially in Sydney and Melbourne, although housing turnover had remained low. 
But the RBA also noted there was likely to be further weakness in dwelling investment in the near term.
Members recognised that this could sow the seeds of an upswing in the housing price cycle at some point, particularly given the lengthy stages in the construction of higher-density residential housing.
Indicators suggested that dwelling investment had declined further in the June quarter and indicators of earlier stages of residential building activity had remained weak; building approvals had declined further in June and other measures of early-stage activity and buyer interest had remained at low levels. 
Demand for credit by investors continued to be subdued and credit conditions, especially for small and medium-sized businesses, remained tight, it noted.
The September minutes also noted a recent pick-up in loan approvals had followed a significant decline over the preceding two years which was consistent with the signs of stabilisation in the established housing market.
The RBA noted reports that housing prices in Sydney and Melbourne had risen noticeably in August and auction clearance rates had increased further, although volumes had remained low. 
"Housing market conditions had been subdued elsewhere, although there were signs of housing prices stabilising in Brisbane. 
"Housing turnover had remained low. 
"Consequently, spending on home furnishings and other housing-related items was not expected to contribute to consumption growth in the near term."
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Price upswing possible as RBA minutes express concern about housing supply 

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SEPTEMBER RBA MINUTES
Members commenced their discussion of the global economy by noting that business conditions in the manufacturing sectors in many economies had remained subdued. They discussed the escalation of the US–China trade and technology disputes, which had intensified the downside risks to the global outlook. By contrast, conditions in more domestically focused sectors had generally continued to be resilient, supported by ongoing strength in labour markets. Employment growth had remained robust in the major advanced economies, although it had eased a little in some economies in recent months, and unemployment rates had remained low. Although wages growth had picked up, year-ended inflation had remained below target in the major advanced economies. Members noted that inflation in the United States had increased in recent months.
The main development over the previous month had been the escalation of the US–China trade and technology disputes. The United States had announced higher tariffs on most imports from China, including consumer goods that had not previously been subject to the tariff increases, to take effect over the remainder of 2019. Members noted that recent and prospective increases in tariffs could increase consumer price inflation in the United States by between ¼ and ½ percentage point over the following few years, based on a range of published estimates. In response to the US announcements, China had suspended purchases of US agricultural products and had announced plans to increase tariffs on around one-half of the value of US imports. In value terms, US exports to China had contracted by around 20 per cent over the year to June, while US imports from China had been around 3 per cent lower. Members also noted that some other east Asian economies were benefiting from the diversion of US imports away from China.
More generally, global trade volumes had fallen over the previous year, reflecting both the escalation of trade tensions and slower growth in Chinese domestic demand. Weak external demand had been reflected in slowing growth in global industrial production and below-average conditions in the global manufacturing sector. Recent indicators suggested trade-related activity would remain weak for some time.
Members noted that weak external demand and heightened geopolitical uncertainty had contributed to lower growth in business investment in many economies, including the United States, the euro area and the United Kingdom. These economies had also recorded declines in investment intentions. By contrast, in the United States the household sector had been resilient, but overall GDP growth had slowed in the June quarter. GDP growth had also slowed in most euro area countries in the June quarter; Germany had recorded a small contraction in GDP. By contrast, GDP growth in Japan had been moderate, supported by consumption brought forward ahead of a scheduled increase in the consumption tax in October, as well as ongoing growth in investment, bolstered by the need to address labour shortages.
Recent data suggested that growth in China had eased further. Most indicators of economic activity had slowed in July, including in components being supported by recent policy measures, such as infrastructure investment. The level of steel production had declined slightly. Retail sales growth had resumed its downward trend, after having received a boost from strong growth in car sales in recent months ahead of tighter emission standards coming into effect. In India, recent indicators had also pointed to output growth slowing.
Weak global trade had continued to weigh on growth in east Asia. Trade within the region and with China had contracted further in June. Growth in industrial production and survey measures of manufacturing conditions had remained weak. Political unrest had weighed on economic conditions for businesses and households in Hong Kong, while an ongoing dispute with Japan had disrupted South Korean production of electronics. However, domestic demand elsewhere in the region had held up, supported by government policies in some cases.
Iron ore prices had declined since the previous meeting, but were around 40 per cent higher than a year earlier. Market reports had attributed these declines to a number of factors, including concerns about the outlook for steel demand in China following the escalation of the disputes between the United States and China in early August, lower steel prices and an easing in supply concerns. The prices of coal and rural commodities had been somewhat lower over the prior month, while oil and base metals prices had been little changed, except where there had been disruptions to the supply of specific metals.
Domestic Economic Conditions
The main information on the domestic economy received since the previous meeting had been on the labour market as well as partial indicators of output growth in the June quarter in the lead-up to the publication of the national accounts. Quarterly GDP growth was expected to be around ½ per cent, supported by a strong recovery in resource exports from earlier supply disruptions.
The ABS capital expenditure (Capex) survey suggested that mining investment had grown in the June quarter, driven by an increase in machinery &amp; equipment investment. The Capex survey suggested there had also been an increase in machinery &amp; equipment investment by the non-mining sector in the June quarter, while non-residential construction was expected to have declined. Investment intentions for 2019/20 had been positive for the mining sector, but had been modestly lower for the non-mining sector. Members noted that the outlook for the construction sector was particularly weak.
Members recognised that, overall, Australian businesses had not appeared to have been affected by the weak trade environment to the same extent as businesses in other advanced economies. This was partly because Australia's exports are more exposed to Chinese domestic demand and less integrated in global supply chains.
Consumption growth was expected to have remained low in the June quarter. Retail sales volumes had been weak in the June quarter and the value of retail sales had fallen in July. The low- and middle-income tax offset (LMITO) was expected to boost household income, and thus support consumption growth, in coming quarters. However, the Bank's liaison with retailers suggested that this had yet to lift spending noticeably. Members noted that even if the LMITO was used to pay off debts, this would still bring forward the point at which households could increase their spending.
Established housing market conditions had steadied in recent months. Reported housing prices in Sydney and Melbourne had risen noticeably in August and auction clearance rates had increased further, although volumes had remained low. Housing market conditions had been subdued elsewhere, although there were signs of housing prices stabilising in Brisbane. Housing turnover had remained low. Consequently, spending on home furnishings and other housing-related items was not expected to contribute to consumption growth in the near term. Indicators suggested that dwelling investment had declined further in the June quarter and indicators of earlier stages of residential building activity had remained weak; building approvals had declined further in June and other measures of early-stage activity and buyer interest had remained at low levels.
Employment growth had remained strong in July, but the unemployment rate had remained at 5.2 per cent. Employment growth over preceding months had been broadly based across states and had predominantly been in full-time work. Strong employment growth had been accompanied by a further increase in the participation rate, which had recorded another all-time high. Members noted that the increase in participation had been particularly notable for New South Wales. Forward-looking indicators had continued to suggest that employment growth would moderate over the following six months. Information from liaison suggested employment intentions had remained weak in the residential construction sector but positive among services firms.
Wages growth had remained low and the upward trend in wages growth appeared to have stalled. The wage price index had increased by 2.3 per cent over the year to the June quarter. Private sector wages growth had been unchanged in the quarter, while public sector wages growth had been a little higher. Most of this increase had been the result of a one-off adjustment to equalise the wages of nurses and midwives in Victoria with those in New South Wales.
Financial Markets
Members commenced their discussion of financial markets by noting that government bond yields had declined and were at record lows in many countries, including Australia. Volatility and risk premiums in global financial markets had increased in August, following the escalation of the disputes between the United States and China and disappointing economic data releases in Germany and China. The persistent downside risks to the global economy, combined with subdued inflation, had led a number of central banks to reduce interest rates in recent months and further monetary easing was widely expected.
In the United States, market pricing implied that the federal funds rate was expected to decline by around 100 basis points over the following year. Market participants also expected the European Central Bank to provide additional monetary stimulus in the near term, including renewed asset purchases and a reduction in its policy rate further into negative territory. Central banks in a number of other advanced economies had also eased policy, or signalled that they were prepared to do so, in response to subdued inflation, moderating activity and downside risks to growth. For similar reasons, central banks in emerging markets had also been easing policy over recent months and had signalled the possibility of further easing.
Financial conditions for corporations remained accommodative globally. This reflected market participants' ongoing expectations that central banks were likely to deliver further monetary easing to sustain the global economic expansion. Corporate bond spreads had increased a little in August, but remained low. Equity prices had declined somewhat, reflecting concerns about the outlook for growth, but remained substantially higher over the year to date. In Australia, equity prices were 5 per cent below the record high reached in late July. Australian listed companies' profits had risen, driven by the resources sector. At the aggregate level, companies had increased their dividends over the preceding year, although this reflected higher dividends in the resources sector in particular.
In China, the authorities had intervened to support three small banks in preceding months, and the People's Bank of China had continued to maintain a high level of liquidity in the banking system. While funding conditions for smaller banks had tightened this year, money market rates and corporate and government bond yields in China had generally remained low and market participants were expecting further easing in monetary policy in the period ahead.
In foreign exchange markets, the Chinese renminbi had depreciated against the US dollar in August following the escalation of the US–China disputes, while the Japanese yen had appreciated over the month. The Australian dollar had been little changed at around its lowest level in some years.
In Australia, borrowing rates for both businesses and households were at historically low levels, as were banks' funding costs. Variable mortgage rates had declined broadly in line with the reductions in the cash rate in June and July. Fixed mortgage rates had also declined substantially over the preceding six months. Financial market pricing continued to imply that the cash rate was expected to be lowered by another 25 basis points by November 2019, with a further cut expected in the early part of 2020.
Growth in housing credit had been little changed over the year to July, having declined steadily through 2018. Credit to investors had declined slightly over previous months. Meanwhile, housing loan approvals to both owner-occupiers and investors had increased for the second consecutive month in July. This pick-up in loan approvals had followed a significant decline over the preceding two years and was consistent with the signs of stabilisation in the established housing market. Borrowing by large businesses had continued to grow at a relatively strong pace. In contrast, small businesses' access to finance remained difficult, and had become more difficult over the preceding year as banks had tightened their lending practices. While new sources of non-traditional finance had been growing, including equity funding from family offices and private equity funds, they remained a small share of business funding.
Members had a detailed discussion of the ways in which financial conditions abroad affect Australia. They discussed how shifts in world interest rates and global risk premiums flow through to domestic financial conditions. While Australia's floating exchange rate means that monetary policy can be set largely according to domestic considerations, members discussed the large shifts in savings/investment decisions globally, which were affecting the level of interest rates everywhere, including in Australia. Members also noted the critical role that the exchange rate had played over many years as a shock absorber for the Australian economy. One important factor here has been that Australian entities raising offshore funding are able to do so in Australian dollars, either directly or via hedging markets.
Considerations for Monetary Policy
Turning to the policy decision, members observed that the news on the international economy had confirmed that the risks to the global growth outlook were to the downside. The trade disputes between the United States and China had escalated and growth in China had continued to slow. There had been further indications that these developments were affecting trade and investment decisions in overseas economies, although businesses had continued hiring and labour market conditions had remained tight.
Against this backdrop and with ongoing low inflation, a number of central banks had reduced interest rates over recent months and further monetary easing was widely expected. Long-term government bond yields had declined and were at record lows in many countries, including Australia. Borrowing rates for both businesses and households were also at historically low levels, and the Australian dollar exchange rate was at the lowest level that it had been in recent times.
Domestically, members considered a number of developments over preceding months that had a bearing on the monetary policy decision. First, employment had continued to grow strongly and the participation rate was at a record high. However, the unemployment rate had remained steady at around 5.2 per cent over recent months. At the same time, wages growth had remained low and there were few indications that wage pressures were building. Members noted that a further gradual lift in wages growth would be a welcome development. Taken together, recent outcomes suggested that spare capacity remained in the labour market and that the Australian economy could sustain lower rates of unemployment and underemployment.
Second, there had been further signs of a turnaround in established housing markets, especially in Sydney and Melbourne, although housing turnover had remained low. Housing credit growth had remained subdued, although mortgage rates were at record low levels and there was strong competition for borrowers of high credit quality. Data on residential building approvals and information from the Bank's liaison program suggested that there was likely to be further weakness in dwelling investment in the near term; members recognised that this could sow the seeds of an upswing in the housing price cycle at some point, particularly given the lengthy stages in the construction of higher-density residential housing. Demand for credit by investors continued to be subdued and credit conditions, especially for small and medium-sized businesses, remained tight.
Finally, based on partial indicators, GDP growth in the June quarter was expected to have been around ½ per cent. The largest contributions to growth were expected to have been from exports and public demand. Private final demand, which includes consumption, business investment and dwelling investment, was expected to have been weak.
Looking forward, the outlook for output growth was being supported by the low level of interest rates, recent tax cuts, signs of stabilisation in some established housing markets and a brighter outlook for the resources sector. A key uncertainty continued to be the outlook for consumption growth, which was expected to increase over time, supported by a gradual pick-up in growth in household disposable income and improvements in conditions in the housing market. Inflation pressures remained subdued, but inflation was expected to increase gradually to be a little above 2 per cent over 2021 as output growth picked up and the labour market tightened.
Based on the information available, members judged that it was reasonable to expect that an extended period of low interest rates would be required in Australia to make sustained progress towards full employment and achieve more assured progress towards the inflation target. Members would assess developments in both the international and domestic economies, including labour market conditions, and would ease monetary policy further if needed to support sustainable growth in the economy and the achievement of the inflation target over time.
The Decision
The Board decided to leave the cash rate unchanged at 1.00 per cent.
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Low interest rates necessary to support growth: RBA September minutes 

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The national residential rental vacancy rate marginally declined 0.1% in August 2019 down to 2.2% from July, according to the latest data released by SQM Research.
They found, the total number of vacancies Australia-wide is now at 75,757 vacant residential properties, a decrease of 589 over the month but up 5,310 dwellings over the past 12 months.
Sydney, Perth and Adelaide each recorded minor decreases of 0.1% in vacancy rates while Melbourne and Darwin’s vacancy rates remained steady over the month.
Brisbane, Canberra and Hobart on the other hand saw an increase of 0.1% with Hobart still remaining the lowest in the country at 0.6%.
<img src="https://www.urban.com.au/images/2019/9/17/SQM%20Rental%20Vacancy%20Rates%20August%20.JPG" alt="">
Over the month, Capital City asking rents declined 0.4% for houses but remained steady for units for the week ending 12 September 2019 to record asking rents of $544 per week for houses and $438 per week for units.
Brisbane continues to be the only capital city to record increases in weekly rents over the month for both houses and units at 0.6% for houses and 0.9% for units.
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National vacancy rates dips in August: SQM Research

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

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