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Weekend sales across the nation pointed to a return of confidence in the market after weeks of jitters leading to the federal election.
Brisbane's top sale, which fetched $1.155 million, was Bill's-hill Cottage, which dates back to the 1880s.
With three owners since it was built, the nine-room abound with original fixtures meticulously restored by the current owners.
"Behind the charming, traditional facade you will find a generously proportioned home with carefully considered modernised areas such as the family-sized kitchen and tiled bathrooms, all designed with a nod to the house's rich heritage," the marketing said.
The original hoop pine floorboards had been sanded and finished with Tung oil at the <a href="https://www.propertyobserver.com.au/http://remaxriverside.com.au/20156979" target="_blank">9 Macartney Street, Paddington offering</a> (top).
The home came with original fretwork, locks, switches and ironmongery.
A bound history book on the property was presented to the new custodians of Bill's-hill Cottage.
There is scope to build underneath and add a swimming pool to the rear garden on the 460 sqm block, "all without fear of over-capitalising," its RE/MAX Riverside selling agent Chris White said. 
White had 82 pre-auction inspections over the five week marketing campaign.
<div>There were six registered bidders - including three buyers' agents, one of whom secured the property on behalf of clients.</div>
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<div>Some 40 bids were taken after the 20 minute auction started at $880,000.</div>
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Melbourne's top sale was $4,515,000 in Clifton Hill when <a href="http://www.collinssimms.com.au/?/property/3345034/6-south-terrace-clifton-hill-vic-3068" target="_blank">Grace Darling, a grand 1892 terrace</a> (below) was sold through Collin Simms Inner North agents Antony Woodley and Antony Harbor.
<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/2019/5/27/Clifton.jpg" alt="">
The five bedroom, three bathroom home at 6 South Terrace had been renovated and extended by its architect/owner Damien Bonnice.
The three level home with parkland and city views sits on 435sqm with an arcaded Italianate facade.
The pre-auction price guidance was $3.9 million to $4.25 million.
It last sold at $450,000 in 1993.
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There were 2,041 homes taken to auction across the combined capital cities after the previous week saw volumes drop to 930, likely due to the federal election.
This time last year, volumes were higher with 2,297 auctions held, according to CoreLogic.
Preliminary results show a national clearance rate of 62.6 per cent across the combined capital cities.
<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/2019/5/27/Auctions-May27.jpg" alt="">
 
Last week’s final clearance rate came in at 55.2 per cent, the highest clearance rate we have seen since September last year/
"It’s possible that this week’s final clearance rate may top that as remaining results roll in," CoreLogic auction analyst Kevin Brogan said.
Over the same week last year the final clearance rate was recorded at 56.2 per cent.
"Clearance rates have bounced back and overall the results are consistent with the narrative that confidence is returning to the market after the Federal Election result," Brogan noted.
"Stimulatory factors include the continuity in negative gearing and capital gains tax concessions for investors, potential changes to the APRA home loan serviceability buffer and the prospect of imminent reductions in interest rates," he said. 
In Melbourne, a preliminary auction clearance rate of 62.9 per cent was recorded across 971 auctions, while the prior weekend saw 432 auctions returning a final clearance rate of 60.7 per cent.
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This time last year, 1,132 auctions were held across the city, returning a clearance rate of 59 per cent.
The nation's top weekend sale was in pricey Bellevue Hill (below).
The $5.625 million sale was a six bedroom home on 658 sqm at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/eastern-suburbs/bellevue-hill/394023" target="_blank">12 Arthur Street through McGrath</a>.
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It last sold at $5.15 million in September 2015.
There were 697 auctions held in Sydney returning a preliminary clearance rate of 69.9 per cent.
 In comparison, there were just 276 auctions held over the previous week returning a final clearance rate of 56.5 per cent. 
"There is a chance that this week’s final clearance rate may just be able to hold above 60 per cent after Sydney has seen the final clearance rate sit above 55 per cent for the last three weeks," Brogan said.
There was a big number of sold before results in Sydney, totalling 140 properties including Purplebricks securing a $468,000 sale for the two bedroom 1/52 Monomeeth Street, Bexley.
 One year ago, 814 auctions were held across Sydney and the clearance rate came in at 56.1 per cent.
Looking at the smaller auction markets, auction volumes increased week-on-week across all capital cities. 
Preliminary results show that clearance rates were down slightly over the week in Brisbane, while all other cities saw an increase week-on-week.
The cheapest sale was $135,000 in Adelaide in a mortgagee sale through Ray White.
The three bedroom house at <a href="https://www.propertyobserver.com.au/https://raywhitecraigmore.com.au/properties/residential-for-sale/sa/elizabeth-east-5112/house/2101904" target="_blank">4 Benham St, Elizabeth East</a> had sold at $150,000 in 2009 when offloaded by the SA Housing Trust.
It was marketed as a maisonette on 653 sqm.
It came with solar panels and there were security window roller shutters on all main windows.
 
 
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Most expensive
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<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">12 Arthur St, Bellevue Hill NSW 2023, 6 br House, McGrath - Coogee</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$5,625,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">6 South Tce, Clifton Hill VIC 3068, 5 br House, Collins Simms</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$4,515,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">69 Penfold Rd, Rosslyn Park SA 5072, 7 br House, T&amp;T SA</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,600,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">9 Macartney St, Paddington QLD 4064, 3 br House, REMAX First Choice Riverside</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,155,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">13 Clarke St, Yarralumla ACT 2600, 4 br House, Peter Blackshaw Real Estate Manuka</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$1,610,000</td>
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Most affordable
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<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">20/68 Gould St, Bondi Beach NSW 2026, 0 br Studio, LITTLE Real Estate New South Wales</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$377,500</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">12/10 Payne St, Caulfield North VIC 3161, 1 br Unit, McGrath Sandringham</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$286,000</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">4 Benham St, Elizabeth East SA 5112, 3 br House, RW Craigmore</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$135,000</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">18 Beattie St, Kallangur QLD 4503, 3 br House, RW Samford</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$265,600</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">12 Sharwood Cr, Evatt ACT 2617, 4 br House, Luton Properties Tuggeranong CRE</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$480,000</td>
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j.ballantyne1990-6AQqhLzZaK

Confidence returns to auction market following election result

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Michael Sukkar has been appointed assistant Minister to the Treasurer and Minister for Housing.
He has been a member of the House of Representatives since 2013, representing the Deakin electorate in Victoria for the Liberal Party.
He served as the Assistant Minister to the Treasurer between 24 January 2017 and August 2018, when he returned to the backbench.
Luke Howarth is the assistant minister for Community Housing and Homelessness as key parts of Scott Morrison’s second Ministry.
The announcement of a Federal Housing Minister and an Assistant Ministry for Community Housing in the second Morrison ministry shows an awakening to the importance of affordable housing to the future of the country, according to Nicholas Proud, CEO of PowerHousing Australia, which represents 33 of Australia’s largest tier one and scale-growth community housing providers. 
“As the biggest slowdown in the development of residential housing in our history threatens to see house prices sky rocket again as demand again outstrips supply, the Federal Government signals that affordable housing, social impact and the economy are not mutually exclusive.
“With housing remaining in Treasury there is real promise to build on the development of the National Housing Finance and Investment Corporation to see affordable housing deliver up to 10-20 per cent of the national build rate to preserve, jobs, underpin state budgets, preserve supply and keep house prices rising at a more manageable pace.
“Linking Treasury, Cities and Urban Infrastructure makes real common sense, it shows commitment to stop thinking about social and affordable housing as a short-term real estate play and reframes it as a long-term infrastructure yield/risk class ripe for 10-15 year institutional and global investment.
“It also links housing to the deep infrastructure and City Deals investments announced in previous Coalition budgets, which help to reduce congestion and make it easier for Australians, including key workers and those on low and middle incomes, to more easily get to and from work."
Around noted Australia is heading for a slowdown in new housing delivery.
The Australian Banking Association welcomed the reappointment of Treasurer the Hon Josh Frydenberg MP and the new appointments of the Hon Michael Sukkar MP as Assistant Treasurer and Minister for Housing and Senator Jane Hume as Assistant Minister for Superannuation, Financial Services and Financial Technology.  
The CEO of the Australian Banking Association Anna Bligh welcomed the new appointments and looks forward to working closely with the Government on important policies such as improving protections for customers through overhauling the Banking Code of Practice, Open Banking and the Government’s First Home Buyers policy announced during the campaign.
“There are a number of critical reforms apart from the Royal Commission, most notably Open Banking and Comprehensive Credit Reporting, which the industry is eager to continue to work closely with the Government to ensure their success.
“Australia’s banks hold a critical role in the national economy and stand ready to work with the Morrison Government to ensure the economy keeps growing, from the financing of infrastructure projects to helping everyday people get ahead in life with first homes, cars and small business lending.
“Ensuring lending remains straight forward and easy for Australian customers looking to buy a home or invest in their business is a top priority for the industry and remains a critical element in ensuring the economy is geared for growth,” she said.
 
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Michael Sukkar appointed Minister for Housing

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GUEST OBSERVATION
Will the banking services royal commission have a lasting effect of improving the banking and financial sector? The answer is “no”. A temporary change is apparent, but the problems lie deeper than those <a href="https://theconversation.com/banking-royal-commission-no-commissions-no-exemptions-no-fees-without-permission-hayne-gets-the-government-to-do-a-u-turn-110974" target="_blank">addressed by the royal commissioner</a>.
The worldwide pervasiveness of financial sector misconduct is an indication.
This is not a criticism of the Royal Commission as such. It had a limited mandate and limited time, although its approach of focusing on Australian case studies further limited its scope. And a broader investigation of economic and social underpinnings of financial sector misconduct would have required a different sort of Inquiry.
It’ll be hard to act on the report we had
Even then, any recommendations for fundamental changes to financial sector structure and activities needed to inhibit misbehaviour would have to run the gauntlet of gaining political support in the face of vested interests.
The response to, and government capitulation on, the Hayne recommendation regarding <a href="https://theconversation.com/sam-and-the-honest-broker-why-commissioner-hayne-wants-mortgage-brokers-to-charge-fees-114071" target="_blank">mortgage broking fees</a> starkly illustrates the point.
Why will the recommendations not be a lasting solution? An important reason is that the royal commission interpreted “behaviour consistent with community standards” in a limited way to refer to situations in which customers were actually harmed.
But much of community angst over financial sector conduct relates to the broader use of market power and superior knowledge to extract an “unfair” share of the benefits from transactions with customers.
And it missed the broader problem…
Customers don’t get a fair share of the benefits from transactions, competition doesn’t work to make sure they do, and customers are often unaware that they have been exploited.
Why is it happening? The answer lies partly in this comment of Royal Commissioner Kenneth Hayne on page 54 of his <a href="https://financialservices.royalcommission.gov.au/Pages/reports.aspx#interim" target="_blank">interim report</a>: "Much if not all of the conduct identified in the first round of hearings can be traced to entities preferring pursuit of profit to pursuit of any other purpose"
Economists will rightly argue that there is nothing inherently wrong with the pursuit of profit or self-interest. It facilitates the efficient allocation of resources.
But unless it is accompanied by a concern with fairness (“do unto others as you would have them do unto you”) in situations of market power and superior information, as typically occurs in financial markets, it will lead to vulnerable consumers being exploited.
…which is a grey zone of unfairness
There is a large and poorly defined grey area between self-interested but clearly fair behaviour and self-interested unfair behaviour, which, in turn, merges into misconduct and illegal activity.
It is difficult for (particularly large) institutions operating in that grey area, even if committed to “fairness”, to ensure their employees do not slide towards the boundary. Or over it.
Moreover, competition between financial institutions in search of profits can lead to a “race to the bottom” in terms of lower financial product quality. This is not always apparent to some (or many) consumers – at their expense.
The financial sector particularly vulnerable to this problem.
First, many financial products and services are “<a href="https://www.investopedia.com/terms/c/credence-good.asp" target="_blank">credence goods</a>” where the consumer needs them but is unable to assess their real worth either before or after the purchase.
A perfect example is a visit to the doctor. Often the reason we are visiting the doctor is because we don’t know what’s wrong with us. It makes it necessarily difficult or impossible to tell whether the doctor is good at her job.
Bankers sharpen their claws on each other
Second, much of the activity in financial markets is about trading and making profits (supposedly using superior information and expertise) at the expense of the another party in those markets.
If it is “right” for that part of the entity that does that to make money at someone else’s expense, why is it wrong for the part of the entity that deals with consumers to do that?
Here’s how the Commission could have tackled these problems in order to achieve real, longer term benefits.
Yet we license them…
First, it could have considered whether giving financial institutions a valuable “social licence” to operate in important business areas under advantageous institutional structures should bring with it extra enforceable obligations.
It could have also considered whether, given the lack of misconduct found in the mutual and cooperative sector, banks and other financial institutions could be organised more like mutuals.
Second, it could have recommended changes that would have given stakeholders other than shareholders (such as depositors and employees) a greater say in running those organisations (perhaps at board level) and a say in shaping their culture.
…and we could change the way they’re run
Third, it could have recommended structural separation between the retail and wholesale arms of firms to reduce complexity and the risks of deficiencies in control systems.
Structural separation could have also reduced the risk that the culture of trading and position-taking, in which profits are made at the expense of another party, spilled over into other parts of the institution where it wasn’t wanted.
Finally, it could (and should) have concentrated more on consumer protection.
It is a much broader issue than deterring and penalising misconduct.
Until consumer financial literacy catches up with financial product innovation and complexity, there will continue to be a big “market for financial misconduct”.
Exhorting institutions to do no harm won’t take it away.
Kevin Davis, Professor of Finance, 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/do-no-harm-isnt-enough-why-the-banking-royal-commission-will-ultimately-achieve-little-116076" target="_blank">original article</a>.
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Why the banking royal commission will ultimately achieve little

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GUEST OBSERVATION
Private enterprise has shaped the skylines of Australia’s cities, and the names of their highest towers reflect this. The towers of Sydney shout finance: Deutsche Bank, MLC, Ernst &amp; Young, ANZ, Suncorp. The tall buildings of Perth read like a mining index: BHP Billiton, Rio Tinto, Woodside. In Melbourne, residential skyscrapers for investors make up the mass of new development, with names like Aurora, Verve, Empire and Vision – names that are timeless (and placeless).
The recent transformation of Australian city centres makes them appear unruly and wild, with their gilded towers, curtain walls compiled from a cladding company catalogue, and hybrid building types. Two-storey Victorian-era fronts abutt six-storey apartment buildings, or are completely engulfed by towers. This bricolage, paired with aspirational branding, creates the impression that property developers and financiers are the main drivers and shapers of this “anything goes” approach to urban development.
This is partly true. Market-driven development has always played a leading role in the urban settlement of Australia. But markets operate within a framework of rules that mitigate the negatives of urban development for the public good.
Governments have a key role in setting policies, rules and regulations that steer those driving urban development through the morass of planning policies, design guidelines and codes for buildings. Within these planning mechanisms, government actions should reflect the standards and expectations of the communities they represent.
So why is there such a gulf between what the centres of Australian cities look like, including their public spaces, and community expectations? Part of the problem is the lack of guidance about quality design during the planning and design phase and the consistent decision-making necessary to achieve it.
Take Melbourne, for example
Nowhere is this more obvious than some of Melbourne’s recently built tall towers.
Over the two decades up to 2015 there was a lack of strong regulation of planning schemes around taller buildings. In 1999 – when the economy was sluggish – the state government removed density controls from the city centre to allow maximum flexibility in property development.
These controls had established a maximum floor area ratio (FAR) of 12:1. This means that if a site has an area of 1,000 square metres, the construction of 12,000 square metres of floor space is allowed. It might be a building built across the whole site to 12 storeys, or a building on half the site to 24 storeys.
It is only by chance that Melbourne’s height limit was set between 265 metres and 315 metres, so that buildings did not intrude into aircraft flight paths.
The soaring heights of Melbourne’s buildings are not necessarily a major problem. The new residential towers take their share of the 100,000-plus new residents who move to Greater Melbourne each year, and these people are <a href="https://s3.ap-southeast-2.amazonaws.com/hdp.au.prod.app.com-participate.files/2615/2963/7455/Transport_Strategy_Refresh_-_Background_paper_-_Car_Parking.pdf" target="_blank">more likely to walk than drive</a>. And restricting building heights does not necessarily lead to better buildings and neighbourhoods.
However, setting height limits through density controls – regulating floor areas, and apartments, in a building, block or precinct – is an important lever for achieving better design. It’s a form of regulatory “bargaining power”, permitting a few extra floors in return for better public amenity. Without it, there can be many bad outcomes, particularly at street level, as is obvious in some recently built towers.
The City of Melbourne’s 2018 report, <a href="https://s3.ap-southeast-2.amazonaws.com/hdp.au.prod.app.com-participate.files/8915/4882/4706/Post_Exhibition_Synthesis_Report_Amendment_C308.PDF" target="_blank">Promoting High Quality Urban Design Outcomes in the Central City and Southbank</a>, notes a “lack of design investment in the lower 20 metres of building facades and in particular in shopfront design” in the past. The problems include allowing parking above ground in podiums, tinted glass that renders active uses (such as common areas or commercial tenancies) invisible, and poor materials and architectural details that undermine the quality of the streetscape. This can contribute to poor visual connections between building occupiers and pedestrians, which reduces surveillance from above that would help make streets safer.
Some developments just look incredibly cheap and bland. There are flat finishes and facades, tinted glass, floor-to-ceiling glazing with repetitious frames and mullions, building services taking up much of the street frontage – despite the luxury apartment taglines used to market these towers.
Tighter controls for better design
Planning controls in the central city and Southbank area of Melbourne have become tighter since <a href="https://www.theage.com.au/national/victoria/new-cbd-rules-clamp-down-on-excessive-skyscraper-heights-and-densities-20150903-gjersp" target="_blank">interim controls were put in place in 2015</a>. These became permanent in 2016. Most of the podium and infill towers recently springing up in Melbourne received planning permission before then.
The new controls stipulate stronger requirements for minimum street setbacks, overshadowing, wind effects, FAR limits and tower separation. New height limits are based on density controls. However, high-rise apartment towers are still permitted to produce <a href="https://participate.melbourne.vic.gov.au/future/trends/urban-growth-and-density" target="_blank">densities higher than those found in areas of Tokyo or Hong Kong</a>.
These new planning controls have already led to a reduction in above-ground car park podiums, as developers aim to increase their yield in the face of restrictions on floor area ratios.
Despite these new planning provisions promoting quality design, there is still ambiguity around what good design means for Melbourne’s taller building proposals. This becomes an issue when tall buildings are subject to discretionary height limits.
The report <a href="/news">Measurable Criteria to Assess Development Applications Exceeding Preferred Heights: Analysis and Recommendations</a> by MGS Architects observed through several case studies across Melbourne – including in South Yarra and Collingwood – that extra height can be negotiated for projects that demonstrate a “high standard of architectural design”. But good design here may not relate to setbacks, overshadowing, provision of public space, or quality architectural details. It could be because a building is marketed as a “landmark”, “gateway” or “icon”.
But does a building’s height make it a landmark? If so, how high should it be? And should poor public amenity (such as generating traffic or overshadowing) be traded away because a building is “slender” and “sculptural”?
In the case of projects that went to the planning tribunal VCAT, the City of Melbourne report observed: "Where the tribunal was required to make a decision between an acceptable urban design outcome or project viability (such as the ability to achieve a viable tower envelope), viability and consolidation objectives prevailed on balance."
What more needs to be done?
Certainty and consistency are lacking. MGS Architects <a href="/news">writes</a> that this “undermines the public perception of a fair and orderly process for development approvals”.
All property developers, architects and planners desire consistency and clarity in urban planning, design and policy in order to deliver their projects – as do local communities. And despite moves in the right direction in Melbourne, there still is room to improve regulation. This includes introducing clearer density controls in relation to quality architectural design, a design review process in which designers lead decision-making and design-led envelope controls (where quantitative rules about where development is permitted are matched by qualitative rules that focus on how the building interfaces with the public realm).
However, to encourage innovation the regulations should still allow for flexibility.
The growth in Melbourne’s residential towers reinforces to the inhabitants of Australian cities the need to regulate for quality design outcomes. It acts as a warning for strategic town centres in Melbourne, and across Australia, that lack adequate quality control of their taller buildings.
Height restrictions were eased in part of Adelaide’s city centre this decade with the <a href="/news">Capital City Development Plan Amendment</a>. This led to a slew of new commercial, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-07-27/is-it-time-to-implement-postcode-5000-in-adelaide/10039102" target="_blank">residential and hotel buildings over 100 metres</a> proposed or under construction. Let’s hope that, with strong design guidelines, Adelaide avoids the mistakes of some of Melbourne’s recent additions.
Timothy Moore, PhD Candidate, Melbourne School of Design, Monash University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/taming-wild-cities-the-tall-buildings-of-australia-show-why-we-need-strong-design-guidelines-116735" target="_blank">original article</a>.
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The tall buildings of Australia show why we need strong design guidelines

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GUEST OBSERVATION
Are we letting too many or too few migrants into Australia?
For 2019-20 the Australian government <a href="https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels" target="_blank">has cut</a> the annual net migrant intake from 190,000 to 160,000. It’s a political decision, balancing the concerns of those who want much lower or higher immigration levels for a mix of social, environmental and economic reasons.
It’s an unsatisfactory and ad-hoc balancing act. Could there be more “science” in these decisions?
We’ve sought to come up with an evidence-based method to gauge the effects of migration. To do so we’ve used the internationally accepted framework for development planning, the <a href="https://www.un.org/sustainabledevelopment/sustainable-development-goals/" target="_blank">Sustainable Development Goals</a>. The goals cover major aspects of economic, social and environmental well-being, from decent jobs and quality education to good health and clean water.
We investigated three population scenarios: one similar to Australia’s recent annual level of net migration (about 200,000 a year); one much lower (about 70,000 a year); and one much higher (about 300,000 a year).
What our results show, perhaps surprisingly, and more by luck than design, is that recent levels of immigration seem to be in a “goldilocks zone” that balances economic, social and environmental objectives.
Our results also suggest migration is neither the problem nor solution in many areas where Australia is off-track, from government debt to environmental action.
Balancing competing agendas
Immigration policy is Australia’s <a href="https://www.pc.gov.au/inquiries/completed/migrant-intake/report/migrant-intake-report.pdf" target="_blank">de facto population policy</a>. With the birthrate just keeping up with deaths, it’s migration that <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/3101.0">drives</a> population growth. It’s why in 2018 the population passed 25 million, <a href="http://www.ausstats.abs.gov.au/Ausstats/subscriber.nsf/0/77DDF6AF34285E7ACA25693E00033443/%24File/32220_1999%20to%202101.pdf" target="_blank">years earlier than previously predicted</a>.
Annual migration intake is set as part of the the annual budget cycle. The government treats it primarily as a short-term economic issue. But population growth has long-term impacts on many sectors, from health and education to infrastructure and <a href="https://theconversation.com/how-migration-affects-housing-affordability-92502" target="_blank">housing</a>. Population growth, particularly through <a href="https://soe.environment.gov.au/theme/drivers/topic/population-driver-environmental-change" target="_blank">urban expansion</a>, increases pressures on the natural environment.
Ideally, therefore, decisions about migration numbers and population growth should synch with long-term planning at the state and local levels to avoid service shortages, <a href="https://www.smh.com.au/politics/federal/australia-s-lack-of-people-planning-is-a-road-to-nowhere-20180801-p4zut4" target="_blank">urban sprawl, vehicle congestion and infrastructure shortfalls</a>.
The question remains about how to make evidence-based policy that balances deeply divided views. Some strongly support high net migration due to the important role population growth plays in managing an ageing population. Others argue equally forcefully for reducing migration because it places a burden on infrastructure, services and the environment.
Using the sustainable development goals
To negotiate these differences, we chose the <a href="https://sustainabledevelopment.un.org/?menu=1300" target="_blank">UN Sustainable Development Goals (SDGs)</a>. The goals cover long-term targets in 17 major areas of economic prosperity, social justice and environmental sustainability. All member states of the UN, including Australia, have agreed to them as a shared blueprint to achieve by 2030.
<hr>
<a href="https://images.theconversation.com/files/275833/original/file-20190522-187153-5jlh95.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/275833/original/file-20190522-187153-5jlh95.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The 17 Sustainable Development Goals. <a class="source" href="https://sustainabledevelopment.un.org">United Nations</a>
<hr>
Each goal area includes multiple specific targets – 169 in all. For example, Goal 11 (“Make cities and human settlements inclusive, safe, resilient and sustainable”) includes the targets of adequate, safe and affordable housing and affordable, accessible and sustainable transport systems.
Countries are not required to adopt all targets, but focus on those appropriate. We chose 52 targets relevant to Australia, covering all 17 goals and ensuring a reasonable balance of economic, social and environmental priorities.
Using advanced modelling capabilities, we tested how achieving the targets by 2030 might be affected by different population sizes.
Overall, not a huge difference
The following chart shows our results in a single graphic. For our low-migration scenario, Australia’s population in 2030 is 27.3 million; for the moderate, 28.9 million; and for the high, 30.6 million.
<hr>
<a href="https://images.theconversation.com/files/276020/original/file-20190523-187179-3ced24.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/276020/original/file-20190523-187179-3ced24.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
How low, moderate and high population scenarios affect Australian’s performance on the Sustainable Development Goals. The authors
<hr>
Only in two goal areas – education, clean water and sanitation – do our results show Australia doing better than 85% achievement by 2030 under all three scenarios. Only in another three – health, gender equality and energy – do we do better than 50%.  
All scenarios had equal effect on eliminating poverty (<a href="https://sustainabledevelopment.un.org/sdg1" target="_blank">Goal 1</a>). However, the low-migration scenario did better for achieving food security and improving nutrition (<a href="https://www.un.org/sustainabledevelopment/hunger/" target="_blank">Goal 2</a>).
Perhaps surprisingly, for decent work and economic growth (<a href="https://www.un.org/sustainabledevelopment/economic-growth/" target="_blank">Goal 8</a>), the middle scenario scored the best.
In the centre of the chart are the overall scores of each scenario.
The high-migration scenario (39.4% progress towards all targets) is the lowest , but not by much. There is almost no difference between maintaining recent migration levels (40.5%) and significanly slashing the migration intake (40.6%).
This suggests that, on an equal balance across a broad set of competing objectives, recent historic levels may be about right.
However, these results brush over the range of trade-offs between different targets – some of which may be considered more important than others.
Compared against the low scenario, for example, the high scenario results in an estimated 1.7 million extra vehicles on the roads, increased water consumption (~600 million m3), greater urban sprawl (~60,000 ha), and higher greenhouse gas emissions (~15 million tons CO2-equivalent).
Poor performance in many areas
What is perhaps most striking is that, regardless of the population scenario, Australia isn’t tracking well on most measures of sustainable development. <a href="https://www.sdgtransformingaustralia.com/" target="_blank">Other studies</a> have concluded the same.
As already noted, Australia is doing well on health, education and water quality. But it’s performing poorly on climate action (<a href="https://www.un.org/sustainabledevelopment/climate-change/" target="_blank">Goal 13</a>) and responsible consumption (<a href="https://www.un.org/sustainabledevelopment/sustainable-consumption-production/" target="_blank">Goal 12</a>), to name just two.
Broadly accepted frameworks to <a href="https://www.sdgtransformingaustralia.com/" target="_blank">measure progress</a> and weigh policy decisions in contested areas is something we lack across the policy board.
Finding new drivers of job creation, addressing infrastructure needs, and tackling climate change are just some of the complex challenges Australia faces.
Ad-hoc, short-term approaches to addressing them are unlikely to often deliver optimal outcomes. Combining clear targets, a long-term perspective and advances in modelling might help.<img src="https://counter.theconversation.com/content/115136/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;">
Cameron Allen, Researcher, UNSW
Graciela Metternicht, Professor of Environmental Geography, School of Biological Earth and Environmental Sciences, UNSW
Thomas Wiedmann, Associate Professor, UNSW
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/if-you-think-less-immigration-will-solve-australias-problems-youre-wrong-but-neither-will-more-115136" target="_blank">original article</a>.
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If you think less immigration will solve Australia’s problems, you’re wrong; but neither will more

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GUEST OBSERVATION
Tourism today has a problem and needs an entire rethink. Pundits are debating <a href="https://theconversation.com/why-australia-might-be-at-risk-of-overtourism-99213" target="_blank">overtourism</a>, <a href="https://theconversation.com/were-in-the-era-of-overtourism-but-there-is-a-more-sustainable-way-forward-108906" target="_blank">peak tourism</a> and <a href="https://medium.com/@BComuGlobal/they-call-it-tourism-phobia-but-that-s-not-what-s-happening-in-barcelona-cb56b02da97b" target="_blank">tourismphobia</a>. Cities such as <a href="https://theconversation.com/how-to-stop-city-breaks-killing-our-cities-79132" target="_blank">Barcelona</a>, <a href="https://www.theguardian.com/world/2019/jan/06/venice-losing-fight-with-tourism-and-flooding" target="_blank">Venice</a> and <a href="https://www.independent.co.uk/travel/news-and-advice/dubrovnik-cruise-ship-cap-croatia-overtourism-two-dock-a8565166" target="_blank">Dubrovnik</a> are witnessing a backlash against imposed forms of tourism.
In response, new tactics have been tried, ranging from <a href="https://www.theguardian.com/world/2018/jul/14/venice-stewards-stop-antisocial-behaviour--sandwich-poilice" target="_blank">tourist “police”</a> and <a href="https://www.independent.co.uk/travel/news-and-advice/edinburgh-city-tourist-tax-scotland-holiday-city-break-a8769141?fbclid=IwAR2q6q9woKiC226mLbvYkhJcFF5dr-7T2BjsGU9NXAgwn9vsz3uerfPyRlM" target="_blank">tourist taxes</a> to entry fees and <a href="https://www.theguardian.com/environment/2009/sep/06/mass-tourism-environmental-damage" target="_blank">crowd control</a>. Cities are having to rethink their engagement with tourism if they want to keep the locals from <a href="https://amp.theguardian.com/cities/2019/apr/30/sinking-city-how-venice-is-managing-europes-worst-tourism-crisis?CMP=Share_AndroidApp_Twitter&amp;__twitter_impression=true&amp;fbclid=IwAR1DvMXEHG0OFcWeLmuxzd7OBxPbFEGIlO5VDH2Oo--ZhHepL6q3gwVM0-8" target="_blank">rioting</a>.
Fundamental concerns are being raised. If tourism is to have a sustainable future, we need to reorient our focus and put the well-being and interests of local residents at the forefront.
Understanding tourism
Tourism is typically understood from two angles. On the one hand, the focus is on the tourists and the nature of their motivations and demand, in the hope of enticing more. On the other is the business side, focused on developing products and services to provide to tourists.
The industry seeks to grow tourism for profits. Governments support the industry for the jobs and revenues it provides. The result has been a relentless growth in tourism in forms that locals have often not appreciated.
Developments like Airbnb are placing tourists <a href="http://www.traveller.com.au/barcelona-tourism-overtourism-and-bad-behaviour-driving-locals-to-despair-h13vqy" target="_blank">in the heart of local neighbourhoods</a>, disrupting the rhythms of daily life. <a href="https://www.sciencedirect.com/science/article/pii/S0261517717301784" target="_blank">Events are imposed on communities</a>, driving out locals or blighting their quality of life. A case in point is the Newcastle 500 Supercars event, which <a href="https://wrongtracknsw.com/" target="_blank">some locals claim</a> has harmed local businesses and disrupted residents’ lives.
Public assets like the <a href="http://www.adelaide-parklands.asn.au/current-issues/" target="_blank">Adelaide Parklands</a> and <a href="https://theconversation.com/green-light-for-tasmanian-wilderness-tourism-development-defied-expert-advice-104854" target="_blank">Australian national parks and World Heritage areas</a> are being commercialised and privatised for tourism developments.
Shifting the focus to the local community
We could create a different future for tourism if it was reoriented to be centred on the local community. <a href="https://tandfonline.com/doi/full/10.1080/09669582.2019.1601732" target="_blank">Our recently published research paper</a> redefined tourism as: "The process of local communities inviting, receiving and hosting visitors in their local community, for a limited time duration, with the intention of receiving benefits from such actions."
Such forms of tourism may be offered by commercial businesses or made possible by non-profit organisations. But in this restructure of tourism, tourism operators would be allowed access to the local community’s assets only under their authorisation and stewardship.
The seeds of such a transition to more sustainable forms of tourism are already growing.
Respect and fairness go a long way
Venice provides a good example. In 2017, the authorities launched a <a href="https://www.independent.co.uk/travel/news-and-advice/venice-enjoyrespectvenezia-tourism-campaign-paola-mar-travel-campaign-litter-swim-canals-bridges-a7861321" target="_blank">#EnjoyRespectVenezia</a> campaign to overcome problems of poor tourist behaviour.
In 2019, Venetian authorities have gone even further by <a href="https://news.artnet.com/art-world/venice-biennale-city-access-fee-1535137" target="_blank">introducing an entry fee</a> this year and, later, <a href="https://www.independent.co.uk/travel/news-and-advice/venice-booking-system-entry-fee-reserve-overcrowding-overtourism-a8765456" target="_blank">a booking system</a>. Mayor Luigi Brugnaro said: "We intend to guarantee a better liveability for citizens and, above all, for the residents."
But local communities and organisations are not waiting for authorities to act. Community activists are organising to take control of tourism for themselves.
A grassroots initiative from Amsterdam and Venice has resulted in <a href="https://fairbnb.coop/" target="_blank">Fairbnb</a>. It’s a social cooperative designed to challenge the damaging and disruptive model of Airbnb. The new platform “provides a community-centred alternative to current vacation rental platforms that prioritises people over profit and offers the potential for authentic, sustainable and intimate travel experiences”.
Like Airbnb, Fairbnb offers a platform to book vacation rentals. The difference is that 50% of revenues will be directed to local community projects. It also has a “one host, one home” policy – only one property on the market for each host – to limit negative impacts on local residential housing markets.
Meanwhile in Australia …
Australia does not have the same level of <a href="https://theconversation.com/why-australia-might-be-at-risk-of-overtourism-99213" target="_blank">overtourism</a> that places in Europe are suffering. But pressures are building right around the country from Byron Bay and the Great Ocean Road to our bigger cities like Sydney and Melbourne. Locals are complaining about housing affordability, congested roads and badly behaved tourists.
Australia would benefit from strategies to reorient tourism to local well-being and control. Some promising examples already exist.
<a href="https://www.lirrwitourism.com.au/" target="_blank">Lirrwi Tourism</a> in Arnhem Land, Northern Territory, stands out. The Yolngu Aboriginal operators have embraced tourism access but only under a visionary set of <a href="https://www.lirrwitourism.com.au/guiding-principles" target="_blank">guiding principles</a>. These declare “Yolngu have a responsibility to care for country” and “Tourism should never control what happens on country”. It’s an example of tourism on the local community’s terms.
<a href="https://www.theurbanist.org/2015/09/16/melbourne-a-case-study-in-the-revitalization-of-city-laneways-part-1/" target="_blank">Melbourne’s laneways strategy</a> has demonstrated one way CBD revitalisation, resident well-being and visitor experiences can be brought together for great outcomes.
Tourists can play their part by meeting local communities halfway. In a resource-constrained world the pleasures of tourism must be balanced with some basic responsibilities.
Tourists must gain some basic understanding of local living conditions and shape their travel plans accordingly. The focus must be to give locals the maximum benefits from the visit with the minimum negative impacts. The recent campaign <a href="https://www.kathmandu.com.au/helpful-or-harmful" target="_blank">“Helpful or harmful: what sort of traveller are you?”</a> provides a place to start.
The long-term sustainability of tourism depends on ensuring visitors do not wear out their welcome. Reorienting tourism to enhance local well-being is the way forward.<img src="https://counter.theconversation.com/content/116066/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;">
Freya Higgins-Desbiolles, Senior Lecturer in Tourism Management, University of South Australia
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/rethinking-tourism-so-the-locals-actually-benefit-from-hosting-visitors-116066" target="_blank">original article</a>.
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Rethinking tourism so the locals actually benefit from hosting visitors

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Beijing surged to top position among Asia Pacific metropolitan commercial real estate investment markets for the first time in the first quarter of 2019. 
The city’s stand-out performance contrasted with most other markets as total investment volume across Asia Pacific slumped by 36% year-on-year (YOY) compared with the same period of 2018.
China’s economic slowdown, its trade tensions with the U.S. and the global downturn in demand for consumer products took their toll on property investment across the region, Real Capital Analytics’ Asia Pacific Capital Trends Q1 2019 report showed.
Investments totaling US$4.5 billion lifted Beijing into pole position in the first quarter, from seventh place in 2018.
Two mega-deals of over US$1.3 billion accounted for more than half of that figure.
Hong Kong was nudged into second place among Asia Pacific metropolitan markets with an investment volume of US$4.4 billion and Tokyo came in third at US$3.9 billion.
"Traditionally, Beijing was considered a government city, more than a major commercial real estate investment target," Petra Blazkova, RCA’s Senior Director of Analytics for Asia Pacific, said.
"Cross-border capital flows, however, appear to be changing the nature of the market and the city is becoming more appealing to institutional investors."
<a href="https://www.propertyobserver.com.au/images/2019/5/21/retail%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/5/21/retail%201.jpg" alt="">
Source: RCA 
Beijing was one of only a few markets not included in the general regional retreat.
Overall investment volume slid by 36% in the first quarterly of 2019 to reach US$30.5 billion with Asia Pacific markets struggling to match the elevated pace recorded in 2018.
Blazkova added the markets are comparatively late in the real estate investment cycle and prices look high from a historical perspective.
"Global interest rates, however, remain relatively low and the count of pending deals is substantial in markets such as Hong Kong, China and India," he said. 
"On balance, these factors signal that the outlook for Asia Pacific’s investment markets for the remainder of the year may be more upbeat."
<a href="https://www.propertyobserver.com.au/images/2019/5/21/retail%202.jpg" target="_blank">Click here </a>to enlarge:
<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/2019/5/21/retail%202.jpg" alt="">
Australia’s Retail Investment Market Under Pressure
Real estate investment transactions ebbed in Australia ahead of federal elections on May 18, with deal volume down 27% to US$3.0 billion compared with the same period of 2018. The biggest contributor to the decline was the pull-back in cross-border capital flows.
More broadly, Australia is facing larger challenges with housing prices falling for over a year, led by Sydney and Melbourne.
The retail market too is under pressure, hit by the rise of e-commerce. Discount department stores have been particularly hard- hit amid a wave of shop closures and consolidations.
Blazkova said while the office yield compression in Sydney and Melbourne stopped at or near record lows, more pressure on yields was obvious elsewhere.
"The structural changes ahead of the Australian retail sector have started to impact its pricing," he said.
"Shopping centre yields have moved out by 70 basis points in the last 12 months."
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Australia’s retail investment market under pressure, while Beijing surges: Real Capital Analytics

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Stronghold Investment Management has acquired the Cardinia Club, a freehold investment in Melbourne’s Pakenham. 
Stronghold purchased the property as a trustee for the Stronghold Hospitality Property Trust No.15, a Brisbane based fund manager with several freehold investments in the hospitality industry. 
The Cardinia Club has 105 EGM’s, a large bistro, upmarket sports bar and multiple function rooms. 
The venue was originally part of the Pakenham Racecourse before the Pakenham Racing Club moved its operations to a new racing facility at Tynong North. 
CBRE Hotels negotiated the sale on behalf of the Pakenham Racing Club with a new 13-year lease to Pakenham Racing Club.
Stronghold is projecting an initial cash return of 7.5% per annum for its wholesale investors.
“This gaming investment generated a significant level of interest from the market, but it took an informed investor like Stronghold to recognise the strength of this opportunity with Pakenham Racing Club as its tenant,” Callow said. 
Steve de Nys, Head of Property at Stronghold, commented the club established in 1875, had 160 employees and three venues.
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Investment management company Stronghold snaps up $16 million Cardinia Club, Pakenham

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A Flemington milkbar, known in a previous life as the Macca’s Milk Bar, is set to go under the hammer June 15. 
Held for the last 30 years, 31 Dover Street, in Melbourne's north west is up for auction with a price guide of $800,000 to $880,000.
Set on 183 sqm, the one story home features the original facade.
The vendors say the property dates back to 1894 and had been a grocery store.
It was also once famous for its annual football tipping competition, however it stopped operating as a business in 1999. 
Jerome Feery and Simon Mason of Jellis Craig are marketing the property.
The shopfront facade has been preserved while the interior was reconfigured into a private three bedroom two bathroom residence in 2000.
Featuring a large kitchen and leafy courtyard, records show it last sold for $107,000 in May 1988.
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Flemington milkbar home listed for auction

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The rural property market in the Central West of New South Wales continues to maintain reasonable levels of interest, according to the latest Herron Todd White (HTW) rural report.
Listings have been somewhat subdued for 2019 due mostly to the drought and sub-optimal presentation factor, the valuation firm said.
However, the report notes any properties that have been marketed realistically have been selling with the appetite to purchase still strong.
"A very active rural agent indicated recently that sales are still relatively strong on the back of limited listings," said the report.
"They indicated that 12 months ago there might have been ten to 12 interested parties in a listing, now that number is five or six.
"This validates that the market is still active and orderly marketed and well-priced properties are moving at satisfactory rates."
The Western Division of the state in the more marginal area’s sales have definitely slowed, with very limited transactions occurring. The drought has a very big hold on a large area and paddock feed stocks are all but exhausted. Stock have been sold down and that will continue as no one is confident of a break in the season.
"Even goats are struggling for feed especially tagged animals behind wire. We recently valued a medium sized station in far west New South Wales with full goat fencing and saw only four kangaroos on a one- hour driving inspection and they were under trees near water points and weak,
"While these drought conditions continue there will be limited offerings of property in the western areas of New South Wales. Our observations and discussions with agents indicate that when the season breaks properly there will be numerous offerings of property and plenty of choice for purchasers. This would normally facilitate a flattening of rates and we expect that will happen.
"Overall, so far the drought has had some slowing of transactions and little effect on values and overall interest in rural property, however we are now in March and the early fodder crops and canola planting is not happening. Major rain events need to occur in the very short-term as no one can afford another tough winter with no crop or pasture growing rainfall events."
The major factor now and until there is a break in the season is cash flow and the confidence to service debt.
<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/2019/4/26/bathurst%202.jpg" alt="">
Asherton, a 103 acre rural property in Central West of New South Wales is on the market with a price guide over $1.2 million (pictured above).
Located at <a href="https://www.realestate.com.au/property-other-nsw-bathurst-700030790" target="_blank">75 Ridge Road O'Connell Via, Bathurst</a>, the soft rolling open grazing has been fenced into 7 internal paddocks and a central laneway.
Each paddock has a concrete water trough which is supplied from a solar equipped bore and header tank.
The freshly renovated homestead comes with five bedrooms, open plan kitchen, dining and lounge room, large family room and low maintenance garden. 
<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/2019/4/26/orange%20.jpg" alt="">
A vineyard situated in the West of Orange has recently been sold for $1.2 million (pictured above).
At an altitude of 800 metres, the property at Lot 19 Bradleys Road, Orange sits on 50 fertile acres of volcanic soil, 32 of which are carrying well-established vines, of mostly red varieties.
The property is favoured with a reliable and plentiful irrigation bore supported by a 40-meg licence allowing for the expansion of multiple agricultural development.
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Central and Western NSW rural market maintains reasonable levels of interest: HTW

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

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.

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]

Staff reporter

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