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Westpac has reported its IO loans has dipped to 31 percent of its home loan portfolio.
It sat at 46 percent in late 2017.
An overview of <a href="/expert-insights/finance/anzs-home-loan-portfolio-shows-big-drop-in-interest-only-borrowers">ANZ's home loan portfolio</a> from their half year results investor pack also showed a big fall in interest-only loan borrowers.
Just 18 percent of their portfolio is IO compared with 26 percent this time last year and 36 percent in 2017.
NAB's IO loans have dropped to <a href="/news/nab-housing-lending-revenue-continues-to-drop-and-shareholders-pay-the-price">26 percent of their loan book</a>.
Some 84 percent of Westpac's entire portfolio has an 80 pecent or lower LVR.
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Westpac announced a reported profit of $3,173 million for 1H19.
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Cash earnings, the Group’s preferred measure of earnings, was $3,296 million, down 22%. 
The Group’s performance in 1H19 was impacted by major remediation and restructuring items: including provisions for estimated customer refunds, payments and associated costs of $617 million (after tax); and costs associated with the reset of Westpac’s wealth strategy announced on 19 March 2019 ($136 million after tax). Excluding these items cash earnings was down 5%.
Westpac Group CEO, Mr Brian Hartzer said it was "a disappointing result reflecting weaker business conditions and the bank dealing decisively with outstanding issues, including remediation and resetting our wealth strategy.”
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j.ballantyne1990-6AQqhLzZaK

Westpac sees IO loans shink to 31 percent of home loan portfolio

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An oceanfront Coral Cove residence sprawled over 2414 square metre north easterly facing allotment has been listed for sale.
Scott Mackey and Aaron Thompson of RE/MAX Precision have the listing. 
With uninterrupted 180 degree out look over the Pacific Ocean in the forefront, the Feng Shui inspired and designed home at <a href="https://www.domain.com.au/54-barolin-esplanade-coral-cove-qld-4670-2015185721" target="_blank">54 Barolin Esplanade </a>comprises five bedrooms, five bathrooms, three living spaces, three car attached accommodation, huge built in bar, wine cellar and 15 metre long pool.
The guest room at the front of the home on the lower level totally is separated from other bedrooms with ensuite and kitchenette facilities.
The family and games room features carved timber door upon entry, recessed gas fireplace plus a full-size wet bar with built-in seating and huge walk-in cellar with customised shelving.
<img src="https://www.urban.com.au/images/2019/4/26/coral%20cove%202.jpeg" alt="">
All bedrooms, living areas and kitchen (except formal dining) comes with split system reverse cycle air conditioning.
Formal living/lounge room and formal dining room offers ocean views. 
There is a 30 metre ocean frontage with title to high tide water mark.
<img src="https://www.urban.com.au/images/2019/4/26/coral%20cove%203.jpeg" alt="">
Additional features include security system, garden store room, electric front gates, huge laundry, high ceilings and quality window furnishing and pelmets.
It is two minutes away from Coral Cove Golf Club and 15-minute drive to the Bundaberg CBD.
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Oceanfront Coral Cove trophy home listed

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GUEST OBSERVATION
Train riders have to get to stations somehow. This is often referred to as the “first mile” or “last mile” problem. There are many technical solutions to help travellers get from home to the station and back, ranging from cars to electronic scooters, but most people use a much older technology, their feet, to get from A to B. What is seldom considered is access to the train platform itself.
Stations are not points but places. They occupy a large area. A person walking at average speed takes about two minutes to walk from one end of a full-length eight-car train to the other.
Often platforms have a single access point on one side of the station, which makes it more difficult for people on the other side of the station to get to the platform. Passengers may need to almost circumnavigate the station to get to the platform. At an average walking speed, the extra distance they must backtrack adds up to six minutes per trip each way, <a href="https://www.propertyobserver.com.au/http://hdl.handle.net/2123/20286" target="_blank">our research</a> has found.
Imagine being so unlucky to have an extra 12 minutes of travel time every day if you take the train. You might be tempted to drive instead.
<a href="https://images.theconversation.com/files/271648/original/file-20190430-194623-13icbq0.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/271648/original/file-20190430-194623-13icbq0.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
In a worst-case scenario, traveller lives west of the station with an east platform and works east of a station with a west platform, adding six minutes of travel each way, 12 minutes per day. Author provided
The table below shows the extra travel time in minutes depending on platform locations and access points for a traveller’s origin and destination. The average time for such a one-sided configuration of train stations is 3.25 minutes each way.
<a href="https://images.theconversation.com/files/271671/original/file-20190430-194616-1d5h24k.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/271671/original/file-20190430-194616-1d5h24k.PNG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Travel times in minutes depending on access to platforms at stations used to get to work and home. Author provided
While this example is hypothetical, it is drawn from experience in Sydney, where 44 of 178 train stations have only a single side entrance.
So what impact will a second entrance have?
We examined those stations and access to their platforms: how many people lived within 5, 10 and 15 minutes of the station platform, considering actual entrance location, and how many jobs were within 5, 10 and 15 minutes of the platform. Using existing ridership data from Opal cards, we estimated a model that related the passenger entry and exit flows at each station to that station’s accessibility.
<a href="https://images.theconversation.com/files/271654/original/file-20190430-194620-1mn9wyq.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/271654/original/file-20190430-194620-1mn9wyq.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Accessibility at train stations across Sydney. Author provided
We sketched a second entrance at those 44 stations and measured accessibility again. It’s now higher, as having two entrances instead of one means more people can reach the platform in the same time. We then estimated the increase in ridership from the model due to the improved accessibility, assuming no change in population or employment.
Over all 44 stations, total morning peak period entries increased by 5%. But some stations benefit a lot, and others not at all, so prioritisation of investments matters.
It will be no surprise to locals that Erskineville station comes out on top with a nearly 35% increase. While many of the new apartment-dwelling residents west of the station make the extra hike every day, even more would catch the train if there were a convenient entrance.
Other top 10 stations include: Bankstown, Newtown, Villawood, Redfern, Burwood, Sydneham, Caringbah, Meadowbank and Penshurst. Planning is already under way to <a href="https://www.smh.com.au/national/nsw/redfern-station-on-track-for-new-lifts-as-part-of-100m-upgrade-20190226-p510ba">improve Redfern station</a>.
While this result considers existing development, adding a second entrance can make new transit-oriented development that much more valuable. This is because it will likely increase activity on the previously less accessible side of the station, as the example of Erskineville shows below.
<a href="https://images.theconversation.com/files/271652/original/file-20190430-194612-17wxfzk.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/271652/original/file-20190430-194612-17wxfzk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Author provided
Other considerations include accessibility for people who cannot use staircases, as many of the stations are older and will require lifts. The <a href="https://theconversation.com/500m-for-station-car-parks-other-transport-solutions-could-do-much-more-for-the-money-114908" target="_blank">prospects of park-and-ride lots</a>, the costs of construction, the presence of nearby stations, and site feasibility also play into final decisions.
Our formal findings and detailed methods are written up in this report: <a href="https://www.propertyobserver.com.au/http://hdl.handle.net/2123/20286" target="_blank">Catchment if you can: The effect of station entrance and exit locations on accessibility</a>.<img src="https://counter.theconversation.com/content/115222/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;">
David Levinson, Professor of Transport, University of Sydney
Bahman Lahoorpoor, PhD Candidate, School of Civil Engineering, University of Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-to-increase-train-use-by-up-to-35-with-one-simple-trick-115222" target="_blank">original article</a>.
Main photo: <a href="https://www.propertyobserver.com.au/https://twitter.com/multimodalism/status/1103401167244017665" target="_blank">Chris Standen, used with permission</a>, <a href="http://creativecommons.org/licenses/by-nc-nd/4.0/" target="_blank">CC BY-NC-ND</a>
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How to increase train use by up to 35% with one simple trick

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Property technology group iBuildNew has announced a recent round of investment of $2 million, with RACV the lead investor taking a strategic stake in the business.
iBuildNew adds to RACV’s portfolio of investments in consumer technology that assists homeowners to make informed decisions, with other ventures including land checked and property safe.
The iBuildNew solution acts as a marketplace for Australians looking to build or invest in a new home and enabling them to search, compare and connect with builders and land developers.
While assisting buyers in their purchasing decisions, iBuildNew offers a service for home builders, land developers and other industry building professionals who can gain online brand exposure and potentially generate new leads and clients.
Designed to be the destination for people looking to build, it matches buyers to a range of options online while also supporting consumers with their offline phone advisory service.
CEO of iBuildNew.com.au, Daniel Peterson, said the recent investment in the platform will propel them to the next phase and enable further expansion.
"iBuildNew is an easy to use, convenient and accessible platform that solves a genuine need in the property market, especially for those in the new home construction market," he said.
"It can be a stressful journey for buyers, so iBuildNew is here to simplify the process, with builders, land developers and all their property offerings at the click of the button.
"Support from a business such as RACV, which is one of Victoria’s most trusted organisations, will be instrumental in iBuildNew’s growth.
"We expect to see continued traffic growth to the platform to access trusted advice for their homes, investment properties or just search and review what new home property is available."
RACV Home Executive General Manager, Nicole Brasz, said the organisation’s partnership with iBuildNew is another way RACV continues to assist and provide its members solutions at home.
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RACV invests in property technology group iBuildNew

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GUEST OBSERVATION
There are some anecdotes just so good that almost every story about a particular economic principle begins the same. So too this article begins with cake mix.
In the 1950, the story goes, US food company General Mills wanted ideas on how to sell more of its Betty Crocker brand of instant cake mixes. It put psychologist Ernest Dichter – the “father of motivational research” – on the case.
Dichter ran focus groups. Change the recipe, he then advised the company. Replace powdered eggs in the cake mix with the requirement to add fresh eggs. All-instant cake mix makes baking too easy. It undervalues the labour and skill of the cake maker. Give the baker more ownership in the final result.
And the rest is history.
<iframe src="https://www.youtube.com/embed/_ts9HLWh2qI?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Add eggs! Betty Crocker cake mix advertisement.
It’s likely this story is <a href="https://www.snopes.com/fact-check/something-eggstra/" target="_blank">extremely overegged</a>. Inconvenient facts include another company, <a href="https://www.mashed.com/66243/untold-truth-duncan-hines/?utm_campaign=clip" target="_blank">Duncan Hines</a> having a cake mix recipe using fresh eggs (developed by food chemist <a href="https://daily.jstor.org/duncan-hines-cake-mix-maker-extraordinaire/" target="_blank">Arlee Andre</a>) as early as 1951. And in 1935, the company P. Duff and Sons <a href="https://www.bonappetit.com/entertaining-style/pop-culture/article/cake-mix-history" target="_blank">was granted a patent</a> for a cake mix using fresh eggs.
<a href="https://images.theconversation.com/files/269739/original/file-20190417-139110-34pk5x.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/269739/original/file-20190417-139110-34pk5x.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
The P. Duff and Sons in 1935 patent. US Patent and Trademark Office
“The housewife and the purchasing public in general seem to prefer fresh eggs,” <a href="https://pdfpiw.uspto.gov/.piw?Docid=02016320&amp;homeurl=http%3A%2F%2Fpatft.uspto.gov%2Fnetacgi%2Fnph-Parser%3FSect1%3DPTO1%2526Sect2%3DHITOFF%2526d%3DPALL%2526p%3D1%2526u%3D%25252Fnetahtml%25252FPTO%25252Fsrchnum.htm%2526r%3D1%2526f%3DG%2526l%3D50%2526s1%3D2016320.PN.%2526OS%3DPN%2F2016320%2526RS%3DPN%2F2016320&amp;PageNum=&amp;Rtype=&amp;SectionNum=&amp;idkey=NONE&amp;Input=View+first+page" target="_blank">the patent reads</a>, “and hence the use of dried or powdered eggs is somewhat of a handicap from a psychological standpoint.”
Even the book sometimes credited as the source of the Dichter anecdote, Something from the Oven: Reinventing Dinner in 1950s America, by Laura Shapiro, says that “if adding eggs persuaded some women to overcome their aversion to cake mixes, it was at least partly because fresh eggs made for better cakes”.
Nonetheless it is the story of Dichter making a profound psychological insight into consumer behaviour that has passed into legend.
Almost seven decades later, the idea of making things more laborious to get consumers to value them more is an established marketing tactic.
We now know it as the “IKEA effect”.
Testing the IKEA effect
The IKEA effect – “that labour alone can be sufficient to induce greater liking for the fruits of one’s labour” – was named in a <a href="https://dash.harvard.edu/bitstream/handle/1/12136084/norton%20mochon%20ariely%20third%20round%5b1%5d.pdf?sequence=3&amp;isAllowed=y" target="_blank">2011 paper</a> in the Journal of Consumer Psychology by Michael Norton, Daniel Mochon and Dan Ariely. They chose the name because products from the Swedish manufacturer typically require some assembly.
Their paper also begins with the cake-mix story. It concedes there might have been other reasons General Mills increased its sales – an alternate view is that the icing on the cake was, in fact, <a href="https://www.bonappetit.com/entertaining-style/pop-culture/article/cake-mix-history" target="_blank">the icing on the cake</a> – but the authors were still enthused by the idea that “infusing the task with labour” was a crucial ingredient.
To empirically confirm this phenomenon, and its limits, they conducted experiments that involved assembling IKEA boxes, folding origami and building with Lego. The results showed participants valued items they assembled themselves more than items assembled by someone else.
The following graph shows the results from one of the experiments, in which participants were asked to fold origami cranes or frogs and then bid to buy the creations. The bidding phase also included origami made by expert folders. They tended to see their own creations as much more valuable than those made by other participants, and almost equal in value to the expert origami.
<a href="https://images.theconversation.com/files/269703/original/file-20190417-147487-1glzp2u.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/269703/original/file-20190417-147487-1glzp2u.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 Results show participants’ willingness to pay (WTP) for origami frogs and cranes made by themselves or others. Participants saw their amateurish creations as similar in value to experts’ creations, <a class="source" href="https://www.hbs.edu/faculty/Publication%20Files/11-091.pdf" target="_blank">Harvard Business School</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
The experiments also showed the effect had limits.
When participants spent too much time building or deconstructing their creations, or failed to complete the task, their willingness to pay for the item declined.
The following graph shows the results of the experiment in which some participants built an IKEA box, while others were allowed to complete only half the steps required to build the box.
<a href="https://images.theconversation.com/files/269717/original/file-20190417-139107-1sng0vr.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/269717/original/file-20190417-139107-1sng0vr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Results shows participants’ willingness to pay (WTP) for assembled IKEA boxes. Those who built their boxes bid more for their creations than did incomplete builders. <a class="source" href="https://www.hbs.edu/faculty/Publication%20Files/11-091.pdf" target="_blank">Harvard Business School</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
Those who got to complete their box valued it much more, shown by their willingness to pay to keep it. “Most importantly,” the paper notes, “this increase in valuation was not limited to only participants who considered themselves DIYers.”
Related, but different, concepts
The IKEA effect is connected to, but not quite the same as, a number of other important economic behaviours.
First, there is the <a href="https://www.behavioraleconomics.com/resources/mini-encyclopedia-of-be/endowment-effect/" target="_blank">endowment effect</a>, in which simply owning a product increases its perceived value. Though this effect has long been recognised, it was formally named by economist Richard Thaler in a <a href="http://www.eief.it/butler/files/2009/11/thaler80.pdf" target="_blank">1980 paper</a>. Since then many studies have demonstrated that individuals usually want more money to give up something they own than they are willing to pay to acquire a similar item from someone else.
Second is the psychological idea of <a href="https://psychology.iresearchnet.com/social-psychology/attitudes/effort-justification/" target="_blank">effort justification</a>. This goes back to studies in the 1950s. The idea is that an individual who makes a sacrifice to achieve a goal rationalises the effort by attributing greater value to the achievement. In one celebrated study, for example, women made to undergo an embarrassing initiative to join a social group subsequently rated membership of that group higher than those who did not.
Third is personal preference, which is expressed in consumers <a href="http://www.acrwebsite.org/web/acr-content/640/emotional-attachment-to-brands-the-implications-for-marketers.aspx" target="_blank">being attached</a> to particular brands. Being involved in the creative process might be regarded as an extension of this attachment to individual tastes, something companies seek to leverage through customisation options.
In their experiments Norton, Mochon and Ariely were very careful to control for these effects. For example, none of the items they had participants assemble entailed customisation.
Their findings have been supported by subsequent studies that <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/j.1540-5885.2010.00768.x" target="_blank">disentangle ownership and personal preference</a> from valuing the fruits of one’s labour.
Convenience isn’t everything
Having customers do most of the work, feel great about it, and at the same time perceive they have attained “greater value for money’” is the Holy Grail for marketers.
Even if the Dichter cake-mix story is more legend than history, food and grocery brands are using the IKEA effect to attract new “value-seeking” customers.
Consider the “ready-to-create” meal kit – prepackaged raw ingredients you prepare and cook yourself. These meals seek to balance the desire for convenience with concerns about about healthy eating and the pleasure of cooking.
<img src="https://images.theconversation.com/files/269735/original/file-20190417-139110-4q1u95.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
A typical meal kit. Blue Apron
Brands getting in on the action include YouFoodz (known for its convenient “ready-made” meals) launching “<a href="http://www.foodanddrinkbusiness.com.au/news/youfoodz-expands-into-meal-kits" target="_blank">ready-to-create</a>” options, and Pataks (known for its “pre-made” curries in a jar) offering “<a href="https://www.pataks.com.au/products/pataks-curry-kits-2/%5D" target="_blank">curry kits</a>”.
Market research company Nielsen estimates more than <a href="https://www.nielsen.com/au/en/insights/news/2018/unlocking-growth-in-meal-kits" target="_blank">one million Australian households</a> will buy meal kits by the end of 2019.
While many retailers focus their efforts on <a href="https://theconversation.com/aussie-retailers-need-to-adapt-to-a-world-built-on-speed-78184" target="_blank">speedy deliveries</a> and ready-made, convenient solutions, the IKEA effect suggests the secret to success may be to make things a little more challenging.<img src="https://counter.theconversation.com/content/113647/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;">
Gary Mortimer, Associate Professor in Marketing and Consumer Behaviour, Queensland University of Technology
Frank Mathmann, Lecturer (Assistant Professor), Queensland University of Technology
Louise Grimmer, Lecturer in Retail Marketing, Tasmanian School of Business and Economics, University of Tasmania
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/the-ikea-effect-how-we-value-the-fruits-of-our-labour-over-instant-gratification-113647" target="_blank">original article</a>.
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The IKEA effect: how we value the fruits of our labour over instant gratification

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A two bedroom Golden Square, Vic mortgagee home has sold for $290,000.
The two bedroom one bathroom house was sold on April 29.
Martin Skahill of Elders Real Estate held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-golden+square-130412838" target="_blank">1 Symonds Street</a>, the property was previously approved for a 3 lot subdivision (now expired).
Set on 652 sqm the current home only occupies a third of the holding. 
The property was unsuccessful when taken to Auction is September 2018 with a price guide of $299,000.
Last sold in 1986, the house traded for $66,000.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/developments/golden-square-vic-3555">Golden Square</a> is $334,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 4.3%. 
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Two bedroom Golden Square, Vic mortgagee home sold for $290,000

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In Brisbane the permanent plantings and viticulture sectors are the stand out performers in Australian agribusiness industry, with large transactions occurring in 2018 across macadamias, citrus, avocados, almonds and vineyard sectors, according to Colliers International.
The latest Colliers International Agribusiness Research and Forecast Report found, water pricing and water tradability is enabling these sectors to continue to be developed even during the severe drought event.
Rawdon Briggs, Head of Agribusiness, Transaction Services at Colliers International said, “looking forward, agribusiness property values will hold firm in well recognised regions, despite the climatic challenges impacting on cashflows and cash reserves. This drought event has had higher commodity prices than we have seen in previous events over the past four decades."
“It shows in the resilience of the market data. The weaker AUD and free trade agreements are supporting export activity, partially offsetting the downside risks. Australian agricultural trade surplus has grown sharply for the past decade and will continue trending upwards. Agribusinesses is now a standalone asset class and will continue to attract investment from offshore and high net worth groups adding capital."
“Colliers International track completed land deals above $5 million across Australia, with this data showing increased sales numbers YoY to 2018, as the neighbour to neighbour market kicked into gear fuelled by lower cost of debt and higher commodity prices resulting in 254 deals and $3.34 billion in sales in 2018."
Mr Briggs added, "this calculation does not include three large deals executed in 2018, which have now settled in Q1 2019. If these had settled as planned in 2018, Australia would’ve surpassed the peak capital investment high of $3.45 billion and 242 deals completed in 2016.”
The report found that one of the best performers over the last year has been the Macadamia sector with land prices increasing and a steady nut supply. 
Colliers predict that established macadamia orchard demand will remain strong in 2019 and 2020. 
According to Colliers experts the Australian wine industry is approaching a point where demand will outstrip supply. This has translated into significantly higher volumes of property transactions.
Tim Altschwager, National Director, Agribusiness, Transaction Services at Colliers International said buyer enquiry has focussed on vineyards offering scale and efficiency or premium quality fruit. “Larger producers are also offering three and five-year grape supply agreements to secure supply and mitigate rising fruit prices.
“We observe continuing interest from overseas investors in Australian wine industry assets, particularly for premium assets, on the back of continued growth in the value of wine exports. Proven domestic industry operators are increasingly active.
“We expect this will increase competition for credentialed assets. Generally, less favourable growing conditions in South Eastern Australia will lead to a smaller 2019 wine grape crop compared to 2018. This will increase demand for wine grapes and place upward pressure on fruit prices and vineyard values,” stated Mr Altschwager.
Over the last 12 months, ground water prices in the Lower Murray (NSW), Murrumbidgee (NSW) and Katunga (VIC) have seen a sharp appreciation nearly doubling in market value.
Mr Nick Cranna, National Director, Agribusiness, Valuation &amp; Advisory Services said, "we anticipate that water entitlement prices will gradually rise in 2019 although it is difficult to see another year of strong capital appreciation as was experienced in 2018."
“In the unlikely scenario we receive normal inflows into the Southern Murray Darling Basin over the winter months we still believe this will have little bearing on water investors buy mandates into 2019 and 2020,” concluded Mr Cranna.
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Australian agribusinesses remain resilient: Colliers International

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Dexus, Australia's biggest office landlord, has purchased 80 Collins precinct, a commercial and hotel development for $1.5 billion.
The 80 Collins precinct is a large-scale site located in the Eastern Core of Melbourne’s CBD.
The precinct comprises 105,000 square metres of Net Lettable Area across an existing 47 level A-grade office tower, a new 35 level premium office tower, a new retail podium with 21 tenancies and a new 255 room boutique hotel.
New components of the 80 Collins precinct are currently being developed, with completion slated for 2020.
Dexus chief executive Darren Steinberg said the sale was completed on a passing yield of about 5.3 per cent and will be accretive to the 2020 financial year results.
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"This is right on our strategy and will provide an excellent return to Dexus shareholders in the future," Mr Steinberg said.
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"We are playing to our strengths and we see strong demand in the Melbourne office market."
With this acquisition Dexus will own or manage circa 20% of the total office stock (by area) in the Eastern Core post the acquisition of the 80 Collins precinct and the development of the neighbouring Dexus owned 52 and 60 Collins Street.
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Dexus purchase 80 Collins precinct in Melbourne

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GUEST OBSERVATION
The announcement that President Joko Widodo’s government will <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-04-29/jakarta-to-no-longer-be-capital-of-indonesia-planning-minister/11056306" target="_blank">move Indonesia’s capital</a> to another location, due to the severity of <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-04-29/jakarta,-a-city-under-pressure-from-a-growing-population/8480226" target="_blank">human-induced degradation in Jakarta</a>, highlights a key tension for cities today. In the face of increasingly unsustainable urban environments, do we retrofit existing cities, or relocate and build new cities to achieve greater sustainability?
The answer is both. But each has its challenges.
Creating new cities
The goal of turning cities from sustainability problems to solutions is driving a suite of “future city” innovations. These include the planning and development of whole new cities.
An <a href="https://www.weforum.org/agenda/2018/08/smart-cities-forest-city-belmont/" target="_blank">increasing number of countries</a> are planning to build cities from scratch using technological innovation to achieve more sustainable urban development. <a href="https://www.nst.com.my/property/2018/09/411211/forest-city-%E2%80%94-model-other-cities" target="_blank">Forest City in Malaysia</a>, <a href="http://smartcityaz.com/" target="_blank">Belmont smart city</a> in the United States and the <a href="https://www.theguardian.com/cities/2018/aug/06/five-years-ago-there-was-nothing-inside-duqm-the-city-rising-from-the-sand-oman-city-sand-luxury-hotels-housing" target="_blank">Sino-Oman Industrial City</a> are just some of the examples.
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Forest City is Malaysia’s biggest development project.
The urban ambition includes creating carless and walkable cities, green cities able to produce oxygen through eco-skyscrapers, high-speed internet embedded in the urban fabric, the capacity to convert waste into energy, and reclaiming land to create new strategic trade opportunities.
However, striking the right balance between innovative ideas and democratic expectations, including the public right to the city, remains a challenge.
<a href="http://www.mxcfilm.com/" target="_blank">The Minnesota Experimental City</a> offers a cautionary tale. The aim was to solve urban problems by creating a new city. It would use the latest technology including nuclear energy, automated cars and a domed roof enclosure.
Despite significant government and financial backing, including its own state agency, the Minnesota project failed due to a lack of public understanding and local support for a top-down futuristic project.
Who gets left behind?
In 1960, Brazil moved its capital from Rio de Janeiro to the futuristic city of <a href="https://brasilialifeafterdesign.com/" target="_blank">Brasilia</a>. While the city was designed to accommodate both rich and poor, it quickly became unaffordable for the average family. Half a century on, it was <a href="https://www.bbc.com/news/magazine-20632277" target="_blank">reported</a>: "The poor have been shunted out to satellite cities, which range from proper well-built cities to something more like a shanty town."
In Indonesia, more than 30 million people – <a href="https://www.thejakartapost.com/news/2014/09/20/the-need-a-national-urban-development-policy-indonesia" target="_blank">a fifth of the nation’s urban residents</a> and more than a tenth of the <a href="http://worldpopulationreview.com/countries/indonesia-population/" target="_blank">269 million population</a> – live in Greater Jakarta. The capital city Jakarta is just one part of a larger mega-city agglomeration, the world’s <a href="https://en.wikipedia.org/wiki/Jakarta" target="_blank">second-largest after Greater Tokyo</a>. This vast connected urban meta-region is known as <a href="https://en.wikipedia.org/wiki/Jabodetabek" target="_blank">Jabodetabek</a>, from the initials of the cities within it: Jakarta (with a population of 10 million), Bogor (1 million), Depok (2.1 million), Tangerang (2 million), South Tangerang (1.5 million) and Bekasi (2.7 million).
A key reason for moving the capital is that Jakarta is prone to serious flooding and is <a href="https://www.deltares.nl/app/uploads/2015/09/Sinking-cities.pdf" target="_blank">rapidly sinking</a>. Jakarta also suffers <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-04-29/jakarta,-a-city-under-pressure-from-a-growing-population/8480226" target="_blank">overpopulation, severe traffic gridlock, slums</a> and a lack of critical urban infrastructure such as drainage and sanitation.
Relocating the capital away from the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-04-29/jakarta-to-no-longer-be-capital-of-indonesia-planning-minister/11056306" target="_blank">crowded main island of Java</a> offers the opportunity to better plan the political and administrative centre using the latest urban design features and technology.
Two key questions arise. If environmental degradation and overpopulation are the key issues, what will become of the largely remaining population of Greater Jakarta? At a national scale, how will this relocation help overcome the <a href="https://theconversation.com/two-decades-of-economic-growth-benefited-only-the-richest-20-how-severe-is-inequality-in-indonesia-101138" target="_blank">socio-economic and spatial disparities</a> that exist in Indonesia?
Egypt, for example, is <a href="https://theconversation.com/egypt-is-building-a-new-capital-city-from-scratch-heres-how-to-avoid-inequality-and-segregation-103402" target="_blank">building a new capital city</a> to overcome severe urban congestion and overcrowding in Greater Cairo. But there is no guarantee the new capital will resolve these issues if the emphasis is solely on technological innovation, without adequate attention to urban equity and fairness.
More of the same in Australia
The Australian population is <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/3222.0" target="_blank">projected to grow to 36 million in the next 30 years</a>. This is focusing political, policy and public attention on what this means for the future of the nation’s cities.
Despite all the advances that have occurred in technology, the arts, architecture, design and the sciences, there is surprisingly little innovation or public discussion about what might be possible for 21st-century Australian settlements beyond the capital cities.
Future Australian city planning and development focuses largely on enlarging and intensifying the footprints of existing major cities. The current urban policy trajectory is in-fill development and expansion of the existing state capital mega-city regions, where <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3218.0Main%20Features12017-18?opendocument&amp;tabname=Summary&amp;prodno=3218.0&amp;issue=2017-18&amp;num=&amp;view=" target="_blank">two-thirds of the population live</a>. But what is lost through this approach?
In Australia only two ambitious “new city” plans have been put forward in the last 50 years: <a href="https://crawford.anu.edu.au/pdf/pep/pep-283.pdf" target="_blank">the Multifunction Polis</a> (MFP) and <a href="http://www.clara.com.au/index" target="_blank">the CLARA Plan</a>.
In the late 1980s the MFP was envisaged as a high-tech city of the future with nuclear power, modern communication and Asian investment. It failed to gain the necessary political, investment and public support and was never built.
The current CLARA Plan proposes building up to eight new regional smart cities connected by a high-speed rail system linking Sydney and Melbourne via Canberra. Each of these cities is designed to be compact, environmentally sustainable and just a quick train trip away from the capital cities.
CLARA has outlined a “<a href="https://theconversation.com/explainer-what-is-value-capture-and-what-does-it-mean-for-cities-58776" target="_blank">value capture</a>” business model based on private city land development, not “government coffer” funding. How these new cities propose to function within the constitutional framework of Australia is as yet unclear and untested.
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The privately funded CLARA plan is to build up to eight compact, sustainable, smart cities connected via high-speed rail.
A bipartisan challenge
Are we thinking too narrowly when we talk about future Australian cities?
The “future city” prompts us to rethink and re-imagine the complex nature and make-up of our urban settlements, and the role of critical infrastructure and planning within them.
The future of Australian cities will require creativity, vision (even courage) to respond effectively to the challenges and opportunities of sustainable development.
This will not be the remit of any one political party, but a bipartisan national urban settlement agenda that affects and involves all Australians.<img src="https://counter.theconversation.com/content/116266/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;">
Wendy Steele, Associate Professor, Centre of Urban Research and Urban Futures Enabling Capability Platform, RMIT University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/indonesia-isnt-the-only-country-planning-new-cities-why-not-australia-116266" target="_blank">original article</a>.
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Indonesia isn’t the only country planning new cities. Why not Australia?

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The Melbourne suburb of Reservoir is host to the highest volume of auctions this weekend, with 16 homes set to go under the hammer, according to CoreLogic.
Next busiest are Coburg and Epping, also in Melbourne, with 12 scheduled auctions each.
This week, the number of auctions scheduled to take place across the combined capital cities is expected to rise, with 1,384 currently being tracked by CoreLogic, increasing from the 1,026 auctions held last week at final results.
Over the same week, last year a much higher 2,311 auctions took place across the capital cities.
Both Melbourne and Sydney are expected to see an increase in activity this week, with 632 homes scheduled for auction across Melbourne, while Sydney is set to host 503 auctions, increasing on the 498 and 332 auctions held last week respectively.
The smaller auction markets will also see a higher volume of homes auctioned week on week with the exception of Brisbane where fewer auctions are scheduled.
<img src="https://www.urban.com.au/images/2019/5/2/May%205%20Auction%20stats.JPG" alt="">
The busy auction weekend in Reservoir sees <a href="https://www.realestate.com.au/property-house-vic-reservoir-130896838" target="_blank">22 Knox Street</a> (pictured in title) offered.
The property going under the hammer is a three bedroom one bathroom house.
It comes with a price guide of $780,000 - $850,000.
<img src="https://www.urban.com.au/images/2019/5/2/Reservoir%20May%205%20Auction%202.JPG" alt="">
Another example of the breadth of auctions taking place in Reservoir is <a href="https://www.realestate.com.au/property-unit-vic-reservoir-130951802" target="_blank">3/8 Duffy Street</a> (pictured above).
The property going under the hammer is a two bedroom one bathroom villa.
It comes with a price guide of $510,000 - $550,000.
<img src="https://www.urban.com.au/images/2019/5/2/Reservoir%20May%205%20Auction%203.JPG" alt="">
A third property going to auction in Reservoir this week is <a href="https://www.realestate.com.au/property-house-vic-reservoir-129112970" target="_blank">85 Barry Street</a> (pictured above).
The property going under the hammer is a three bedroom one bathroom house.
It comes with a price guide of $550,000 - $600,000.
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Reservoir set to be busiest weekend auction hotspot

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.

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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.

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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.

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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.

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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.

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