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A Brisbane CBD basement has become the new home for a First Nations owned and operated art gallery.
The Henderson Gallery have taken up occupancy in the basement of 300 Adelaide Street, leasing the 489 sqm space through Savills.
The lease was negotiated by Executive of Savills Commercial Leasing, Daniel Paxton, on a five year term plus options.
“The space is traditionally a tricky tenancy to lease, however the refurbishment by LSH Property enabled us to gain traction and led to three serious parties interested in the space,” Mr Paxton said.
The Henderson Gallery is owned by Robert Henderson, Wiradjuri, focusing on First Nations art experiences for domestic and international visitors.  
The Henderson Gallery offers "exhibitions, First Nations influenced menus in Birrang Café, wine bar, live performances and more."
Mr Paxton said the Gallery have also leased a 159 sqm suite within the building to house their not-for-profit foundation, The Wayne Weaver Foundation.  
The Henderson Gallery opened in their new location on February 23 2019.
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j.ballantyne1990-6AQqhLzZaK

Savills secure CBD basement lease for Indigenous Australian art gallery

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10 one bedroom live/work styled apartments have hit the Byron Bay market.
The Habitat concept apartments come with $800,000-$830,000 price points.
Situated at 28-50 Parkes Avenue, the units are designed to give people the option to live above a flexible space in which they can manage and run a business.
<img src="https://f.datasrvr.com/f1/019/53339/Habitat_2.JPG">
Mr Fraser Williams-Martin of DFJ Architects, said “we’ve designed the apartments to have a contemporary warehouse feel, allowing you to live upstairs and work downstairs.
“The area itself is a hub of small businesses and these properties are ideally suited to young and creative entrepreneurs"
“The design is based on European models and really is revolutionary, especially when it comes to a regional town like Byron.”
Ray White Byron Bay Sales Associate April Nicolson said "the 'Habitat' site is a progressive, all-encompassing destination only five-minutes from the beach, and a 10-minute cycle to town."
 
“Residents have access to all exclusive facilities including pools, park and recreation area, award-winning restaurant Barrio and professional meeting spaces in the main commercial precinct."
<img src="https://f.datasrvr.com/f1/519/64332/Habitat_3.JPG">
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10 ‘live/work’ apartments listed in Byron Bay

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An Exmouth, WA residential land parcel has been sold for a 60% price reduction on its 2008 sale price.
Originally listed in October 2018 with price guide of $109,000 the land holding sold on March 13 for $78,142.
Marking a $130,000 price reduction on it's 2008 sale price when it traded for $208,000.
The <a href="https://www.realestate.com.au/sold/property-residential+land-wa-exmouth-200595971" target="_blank">37 Bluefin Cove</a> land parcel is a 275 sqm dry lot situated on the island in the Exmouth Marina Village.
It was unsuccessfully listed in 2013 and 2014 for over 150 days on each occasion.
When listed during those years the holding had an asking price of $177,000 and $179,000.
<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 home in <a href="/developments/exmouth-wa-6707">Exmouth, WA</a> is $405,000 according to CoreLogic.
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Exmouth, WA mortgagee land parcel sold for 60% price reduction

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LandMark White has been reinstated by Commonwealth Bank to its panel for residential valuations.
Marking a significant step for the company after the <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">recent cyber-attack</a>, Keith Perrett, Chairman of LandMark White, said the decision made by Commonwealth Bank is an endorsement of the actions taken by the company in response to the incident.
"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders.
"Commonwealth Bank recognised the risk to our company, our staff and shareholders, and reviewed the enhancements to our systems and networks in an efficient manner while also ensuring its affected customers were supported,” Mr Perrett said.
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The company has been working closely with financial institutions throughout the last few weeks – including all of Australia’s major lenders – to ensure its systems and networks are now subject to the highest level of security and monitoring.
Commonwealth Bank, as well as NAB and ANZ, <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">dropped LandMark White</a> following the attack.
LMW liaised with Commonwealth Bank’s Data Protect Group to assess and improve its datasecurity environment, while the company has also committed to a framework for robust risk management and continuous improvement.
"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders. 
“It’s a great sign of faith in our company and our people, and I thank the Commonwealth Bank for the support they have shown LMW in the last few weeks. We are confident we now have one of the most secure systems and networks for a property valuation company in Australia.”
“We have been a trusted member of the industry for nearly 40 years and with the support ofall the major banks, we’re confident we’ll be here for another 40 years and longer.”
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CommBank resumes LandMark White valuations

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GUEST OBSERVATION
A <a href="http://www.nightwingenterprises.com/downloads/nXqKw/YDA_Report_Card_WEB.pdf" target="_blank">National Report Card on Youth Homelessness in Australia</a> says government action over the past decade would earn no more than two stars under its four-star rating system. There has been under-investment in most areas. Promises made have been only partially delivered.
The report identifies the lack of a coordinated national strategy as an obstacle to achieving goals that were set a decade ago. The report card will be presented at the <a href="https://youthhomelessnessconference.org.au/" target="_blank">National Youth Homelessness Conference</a> being held in Melbourne today and tomorrow.
It’s the first national conference focused solely on homeless youth in Australia in 20 years. It will consider four proposed strategic reforms:
<ol>
<li>early intervention</li>
<li>rapid rehousing</li>
<li>engagement in education, training and/or employment</li>
<li>extending state care to the age of 21.</li>
</ol>
Losing our way even with a roadmap
The report card assesses progress since the <a href="https://www.propertyobserver.com.au/https://apo.org.au/node/8435" target="_blank">2008 report</a> of the National Youth Commission (NYC) into youth homelessness, the second of two landmark inquiries.
Following the rigorous procedures of the 1989 Human Rights and Equal Opportunity Commission <a href="https://www.humanrights.gov.au/our-work/childrens-rights/publications/our-homeless-children" target="_blank">Inquiry into Youth Homelessness</a> headed by Brian Burdekin, the NYC’s independent community inquiry held hearings all over Australia. There were 21 public hearings, 319 people gave evidence, and 92 written submissions were received.
The inquiry’s 400-page report, <a href="https://www.theoasismovie.com.au/pdfs/Homeless_report.pdf" target="_blank">Australia’s Homeless Youth</a>, made 80 recommendations and included a widely publicised ten-point Roadmap for Youth Homelessness. The NYC argued that implementing this roadmap could transform the face of youth homelessness in Australia.
In December 2008, following this report, the federal government released a white paper, <a href="https://www.propertyobserver.com.au/https://apo.org.au/node/2882" target="_blank">The Road Home: A National Approach to Reducing Homelessness</a>. Prime Minister Kevin Rudd made a bold public <a href="https://www.smh.com.au/national/rudds-2020-homeless-pledge-welcomed-20081221-72rw" target="_blank">commitment to halve homelessness by 2020</a>. This involved three key policy strategies:
<ul>
<li>“turning off the tap” – early intervention</li>
<li>“improving and expanding services”</li>
<li>“breaking the cycle”.</li>
</ul>
How was the report card compiled?
The report card references the ten points of the NYC roadmap. It is a review of responses to youth homelessness over the past decade from a national perspective, and of what still needs to be done.
The 2008 white paper and all subsequent state and territory plans and strategy documents were systematically reviewed against information about what has been done for young people.
Progress under each point was rated using a four-star assessment. Experts and experienced leaders in the various areas then reviewed the preliminary assessments to finalise the ratings.
<a href="https://images.theconversation.com/files/264056/original/file-20190315-28505-1rxmiw3.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/264056/original/file-20190315-28505-1rxmiw3.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The National Report Card on Youth Homelessness ratings. Author provided
So what happened to the roadmap?
After the white paper, work began on a national strategy to tackle homelessness, but that project was shelved. The states and territories have issued their own plans and strategies, which are, despite some common features, somewhat divergent. The overall national response to homelessness would be hugely strengthened by working to an agreed national strategy like in other high-priority social policy areas.
The roadmap highlighted affordable housing for young people as a priority. This need has hardly been addressed. Young people make up a significant proportion of the homeless population, but <a href="https://www.propertyobserver.com.au/https://apo.org.au/node/63479" target="_blank">they are only 2.9% of tenants in social housing</a>.
Domestic and family violence is a known <a href="https://www.ahuri.edu.au/policy/ahuri-briefs/what-is-the-link-between-domestic-violence-and-homelessness?gclid=EAIaIQobChMIusH7_9iC4QIViIqPCh19QQC4EAAYAiAAEgKGevD_BwE" target="_blank">cause of homelessness</a>. Only in recent years has there been a significant effort to make this a high social policy priority. A recent increase in funding for a range of services and initiatives is promising but overdue.
The white paper proposed “turning off the tap”, or early intervention, but little has been accomplished. <a href="https://www.launchhousing.org.au/australianhomelessnessmonitor/" target="_blank">More Australians seek help from homelessness services now than in 2008</a>. This is arguably the single biggest policy failure. An early proposal to expand <a href="https://www.dss.gov.au/families-and-children/programmes-services/reconnect" target="_blank">Reconnect</a>, the early intervention program that has existed since 1997, came to nothing.
Some effort has been made to reform state care and protection, especially the inadequate support for young people leaving care at 18. They are particularly vulnerable to homelessness. The idea of extending state care to at least 21 years of age is not new, nevertheless it is still not well resourced nor securely established nationally.
Some repair and expansion of the crisis system of homelessness services has been achieved. However, many communities complain they do not have even basic crisis capacity.
The roadmap called for improvement of specialist services for homeless youth such as mental health, drug and alcohol services, and employment services. Little progress has been made on drug and alcohol and employment services. Youth-specific mental health services is one area that has had significant development.
The roadmap also called for a new form of housing that linked supported accommodation with education, training and support into employment. These were foyers and foyer-like facilities <a href="http://foyer.org.au/foyers-in-australia/" target="_blank">modelled largely on the UK foyers</a>. Over a decade, some 15 foyers have been developed in Australia. This can be acknowledged as an achievement.
Lastly, the roadmap argued that support after homelessness (“post-vention”) is important for young people. The passage to independence should not simply be expected, but rather they need extended support (the kind of support most families provide their children) to “break the cycle” of homelessness. In policy terms, Australia has come late to this understanding and little has been achieved on this issue in the past decade.
In making an overall assessment of progress since the NYC roadmap, the report card acknowledges some positive initiatives and progress but also neglect and underachievement. The existing crisis-focused service systems are not reducing youth homelessness; proven early intervention approaches remain critically underfunded and underdeveloped. What has been done, or rather not done, over the past decade continues to fail young people who are at risk of homelessness or experiencing homelessness.
Overall, the report card gives a two-star rating – “developing – some progress under way” – to efforts to reduce youth homelessness over the past decade. As a nation, we cannot be satisfied with a below-average response to youth homelessness. The next decade needs to be a very different story.<img src="https://counter.theconversation.com/content/113118/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 MacKenzie, Associate Professor, Department of Social Science, Swinburne University of Technology
Tammy Hand, Research Fellow, School of Psychology, Social Work and Social Policy, 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/youth-homelessness-efforts-get-a-lowly-2-stars-from-national-report-card-113118" target="_blank">original article</a>.
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Youth homelessness efforts get a lowly 2 stars from national report card

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GUEST OBSERVATION
The long debate over the causes of wage stagnation took an unexpected turn last week, when Finance Minister Matthias Cormann described (downward) flexibility in the rate of wage growth as “<a href="https://www.magic1059.com.au/news/national-news/88452-low-wage-growth-not-all-bad-minister" target="_blank">a deliberate design feature of our economic architecture</a>”.
It was a position that was endorsed in a flurry of confusion <a href="https://www.news.com.au/finance/economy/australian-economy/sixteensecond-backflip-turns-interview-into-trainwreck/news-story/fe62507c8e961d6381f510133cd68563" target="_blank">16 seconds after it had been rejected</a> by Defence Industry Minister Linda Reynolds.
Cormann had said policies aimed at pushing wages up could cause “massive spikes in unemployment”.
The ease with which Reynolds was trapped into at first rejecting and then accepting what her ministerial colleague had said flowed from the fact that Cormann had broken one of the standing conventions of politics in Australia, and for that matter, the English-speaking world.
For more than forty years, both the architecture of labour market regulation and the discretionary choices of governments have been designed with the precise objective of holding wages down.
These policies have been quite successful, as can be seen from the graph.
However, at least until recently, there has been bipartisan agreement on at least one aspect of them – that no one should mention their role in holding back wages.
<hr>
<a href="https://images.theconversation.com/files/264070/original/file-20190315-28499-eksq75.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/264070/original/file-20190315-28499-eksq75.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/5206.0" target="_blank">ABS Australian Accounts, seasonally adjusted</a>
<hr>
Instead, the decline in the wage share of national income has been variously blamed on:
<ul>
<li>technology</li>
<li>immigration</li>
<li>imports from China and, more recently,</li>
<li>the end of the mining boom.</li>
</ul>
None of these explanations stand up to scrutiny.
The idea that technology is driving the wage share down is perhaps the most popular.
But technological change has been continuous, if uneven, since the beginning of the Industrial Revolution in the 18th century. Most of the time, workers have shared in the resulting productivity gains.
There have however, been a number of exceptional periods in which workers have been harmed.
They have been times when the balance of power had favoured employers. At those unusual times, any kind of disruption, whether caused by new technology or not, has had the potential to enable employers to break working conditions and cut wages.
Right now, for example, there is no necessary reason for the ability to do business over the Internet to harm workers. In many ways it empowers workers by reducing the information advantages of big employers.
But in an environment where unions are weak and working conditions are vulnerable to erosion, the outcome is firms like Airtasker, where workers bid against each other to perform outsourced tasks, <a href="https://theconversation.com/all-care-and-no-responsibility-why-airtasker-cant-guarantee-a-minimum-wage-76943" target="_blank">often for less than the minimum wage</a>.
There is nothing new about this kind of working arrangement.
It could be seen outside the wharves on Sydney’s “<a href="https://theconversation.com/all-care-and-no-responsibility-why-airtasker-cant-guarantee-a-minimum-wage-76943" target="_blank">Hungry Mile</a>” in the 1930s, where workers went from wharf to wharf each day hoping for work, or today on street corners in the United States, where (often undocumented) construction workers gather in the mornings hoping to be picked for work.
But if technology isn’t to blame, what is?
The overlong shadow of the overhang
The real story begins in the early 1970s, when there was an upsurge in inflation associated with the breakdown of the post-war <a href="https://en.wikipedia.org/wiki/Bretton_Woods_system" target="_blank">Bretton Woods</a> system of fixed exchange rates , and soaring prices in commodity markets including that for oil. The result was a “wage-price spiral” as both wages and prices rose at unexpected annual rates of more than 10%.
In a nation with a history of strong trade unions, decades of full employment, and the boundless faith in the future forged by the 1960s, wages grew faster than prices as both spiralled upwards.
By the time rising unemployment began to bite, and inflation slowed down, the wage share of national income had risen to an unprecedented 62%.
Reining in this “<a href="https://www.rba.gov.au/publications/rdp/1988/pdf/rdp8806.pdf" target="_blank">real wage overhang</a>” became the central preoccupation of macroeconomic policy throughout the 1970s and 1980s.
This made sense at the time. But, as in other fields, ideas formed in the 1970s and 1980s continued to dominate the thinking of policymakers long after they had either been proven to be failures or rendered obsolete by changing circumstances, as was the case with policies designed to hold back wages.
The policies had several elements. There were a series of changes in industrial relations law, most of which have attacked unions and weakened the bargaining power of labour.
The Fraser government introduced Sections 45D and 45E of the Trade Practices Act <a href="https://www.legislation.gov.au/Details/C2004A02274" target="_blank">banning secondary boycotts</a>, that is, action in solidarity with other workers. Fraser also created the Industrial Relations Bureau, the first of a series of industrial “police forces”.
On its election in 1996, the Howard government introduced the <a href="https://www.legislation.gov.au/Details/C2006C00104" target="_blank">Workplace Relations Act 1996</a> which extended scope for non-union agreements. After winning a Senate majority in 2004, Howard introduced <a href="https://en.wikipedia.org/wiki/WorkChoices">WorkChoices</a> which limited the scope of collective bargaining, and wound back protections against dismissal.
The Industrial Relations Bureau maintained at least a pretence of impartiality. By contrast, the organisations created by the Abbott and Turnbull governments (the Registered Organisations Commission and Australian Building and Construction Commission) have been so nakedly anti-union that they have repeatedly <a href="https://www.afr.com/news/politics/police-wanted-to-prosecute-over-awu-raids-leak-senate-estimates-hears-20190218-h1bdmu">broken the law</a> <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-09-13/abcc-nigel-hadgkiss-resigns-over-breach-labor-pressures-cash/8942558" target="_blank">they are supposed to uphold</a>.
Labor governments have wound back some of the most extreme measures, but have not changed the general direction of policy.
Even measures that appeared superficially favourable to workers turned out differently. For example, in 1993 the Keating government introduced the concept of “protected industrial action”.
It was some time before it became apparent that the result was <a href="https://www.theguardian.com/business/grogonomics/2015/mar/16/industrial-action-is-at-near-record-lows-but-businesses-will-still-blame-unions" target="_blank">to abolish any general right to strike</a>, something that exists in almost every other democratic government.
As Minister for Workplace Relations, Bill Shorten introduced measures that were pitched as protecting penalty rates through a review process undertaken by the Fair Work Commission. A few years later, in a highly politicised process, the Commission <a href="https://www.liberal.org.au/latest-news/2017/02/23/fair-work-commission-review-penalty-rates" target="_blank">used the process to cut penalty rates</a>.
Coalition governments have also used the power of the state directly against unions. Notable examples include the string of <a href="https://www.royalcommission.gov.au/royal-commission-trade-union-governance-and-corruption" target="_blank">royal commissions</a> created by the Abbott government and the use, in 1998, of ex-military strikebreakers to break the Maritime Union of Australia. Their training and deployment was facilitated by a government consultant who <a href="https://www.theage.com.au/technology/battle-on-the-waterfront-20070512-ge4vby" target="_blank">worked with the major waterfront employer, Patricks</a>.
orchestrating the offshore training of the replacement workforce through the actions of consultant Stephen Webster and other shadowy ex-military figures.
Finally, macroeconomic management has operated on the basis that any increase in wages is a danger signal requiring a tightening of fiscal and monetary policy. A notable example, was the warning by then Employment Minister Eric Abetz in January 2014 months after taking office that Australia faced a “<a href="https://ministers.jobs.gov.au/abetz/industrial-relations-after-thirty-years-war-address-sydney-institute" target="_blank">wages explosion</a>”.
<hr>
<a href="https://images.theconversation.com/files/264082/original/file-20190315-28483-4y15qz.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/264082/original/file-20190315-28483-4y15qz.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/6345.0" target="_blank">ABS Wage Price Index</a>
<hr>
Far from “exploding”, wage growth slid and hasn’t recovered.
More striking than his failed prediction, was Abetz’ assumption, taken for granted in policy debate, that any substantial increase in wages would be disastrous.
It is only in the last few years that this assumption, inherited from last century, have been challenged.
The Reserve Bank in particular has become an advocate for higher wage growth.
Yet as Cormann’s incautious outbreak of truthtelling has shown, the view has yet to percolate through to Australia’s elites.
<hr>
John Quiggin, Professor, School of Economics, The University of Queensland
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/ultra-low-wage-growth-isnt-accidental-it-is-the-intended-outcome-of-government-policies-113357" target="_blank">original article</a>.
The <a href="https://www.assa.edu.au" target="_blank">Academy of the Social Sciences in Australia</a> is one of Australia’s four learned academies. The ASSA coordinates the promotion of research, teaching and advice in the social sciences, promotes scholarly cooperation across disciplines, comments on national needs and priorities in the social sciences, and provides advice to government on issues of national importance.<img src="https://counter.theconversation.com/content/113357/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
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Ultra low wage growth isn’t accidental - it is the intended outcome of government policies

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Property prices have fallen in most major centres, but there seems to be little relief in sight for struggling tenants as rents continue to increase, according to new data. 
Analysis by rent.com.au shows rents in February increased in all capital cities except Brisbane and Perth, but experts say that may change soon. 
The increase follows a trend of growing rental prices within the past 12 months as the nation grappled with a lack of affordable housing. 
In 2018, house prices dropped by an average of 4.8% across the nation, prompting Deutsche Bank to identify a potential Australian housing crash as one of the top 30 risks to the global economy. 
While the current rise in rents seems out of step with the downward trend in house prices, experts say it is to be expected.
<img src="https://www.urban.com.au/images/2019/3/14/RENTS.png" alt="">
Source: Rent.com.au
Static incomes, rising interest rates for existing borrowers and population growth are offsetting lower renting costs across cities. 
“Rents and house prices can move in different directions at the same time,” University of New South Wales City Futures research fellow Chris Martin said. 
“This is because house prices have a speculative component that rents do not have. Rents more directly reflect demand for, and supply of, housing as housing. By contrast, house prices also reflect a degree of speculation – that is, housing as an asset, that someone else might pay more for later.”
For the past decade, housing prices across the major capitals have risen well above the trend in rents due to low interest rates and “rampant speculation” from investors keen to capitalise on the skyrocketing prices. 
Now, would-be buyers have lost confidence and are pulling out of the market, resulting in the price drop. 
“This also means that construction commencements have also contracted, as developers are less confident about finding buyers. If this persists, this may result in supply pressures on rents,” Martin said.
Greg Bader, the CEO of rent.com.au, says the recent increase has also been influenced by an influx of demand in the market, as students seek suitable accommodation. 
“In isolation, falling house prices don’t tend to impact rents directly. However, a market downturn can lead to an oversupply of properties, which does then flow through to an eventual drop in rental prices,” Bader said.
“But this can be a slow burn.”
While the February market snapshot shows a small lift in rental prices across the peak season, Bader stresses that renters are “yet to see the impact of a housing downturn”.
There are more than 2.1 million Australians living in rental properties, with the 2016 census showing that the nation’s cohort of renters is on the rise with almost as many Australians renting, as those that own their houses.
In November, the latest Rental Affordability Index – an indicator of rental affordability relative to household incomes – found that “renters currently spend an average of 20% of their income on housing costs, while owners with a mortgage pay 16%”.
Bader said that potential renters looking for the downturn to influence cheaper rents will have to wait a while. 
“With the number of properties available increasing in many areas, it’s likely that the market will see some softening as demand teeters off – most likely in areas where there’s some oversupply [apartments] and in outer suburbs where there’s more choice,” he said. 
The best thing that renters can do in the meantime is to narrow down locations, research lifestyle options and be prepared to compromise, he said.
“Don’t be afraid to look at neighbouring suburbs which can offer just as many lifestyle options but can come at a significant discount and save you money,” Bader said.
“Be flexible. You may need to compromise on some things, but go in with an idea of what’s most important to you, e.g. a good kitchen over parking space.”
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Rents continue to rise despite fall in property prices

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The Sydney art institution Watters Gallery in Darlinghurst has been sold at auction by Colliers International for $5,505,000.
It was the first time the gallery space had been offered to the market in 50 years. 
Miron Solomons, Matt Pontey and Nick Lumley of Colliers International sold the 230 square metre, three storey Victorian terrace with vacant possession.
It went for more than $1 million over the initial starting bid of $4.5 million, with the property receiving 45 bids. 
Located at 109 Riley Street in Darlinghurst, the art gallery had contemporary internal finishes including polished concrete floors and multiple rooms with high quality amenities including a lift and loading dock. 
The gallery, which closed its doors in December 2018, has been owned and operated by Frank Watters and Geoffrey and Alexandra Legge since 1964. 
“109 Riley Street has significant historic value in Sydney, as it dates from a key period of Darlinghurst development during the subdivision of grand estates into residential and commercial development,” said Miron Solomons, National Director, Investment Services at Colliers International. 
The space has had a variety of uses over time, originally as a boot warehouse from 1858 – 1862, then used as retail space and also operated as a hotel until 1968, where it was converted to an art gallery by architect Don Gazzard.
Watters Gallery is named after director and owner Frank Watters who lived above the gallery since 1970.
Substantial extensions to the rear of the building were carried out by Walter Barda Design in 2010. 
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Watters Gallery in Darlinghurst sells for $5.5 million

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Sales activity appears to have slowed considerably over the past few months, according to the latest Herron Todd White (HTW) rural report. 
The report suggests this is not surprising in the dryland cropping and grazing sectors given the impact of the drought in western New South Wales and poor crop yields throughout north-western Victoria.
"As expected, few properties are being put to the market, with prospective vendors biding their time until better seasonal conditions arrive before presenting their properties to the market for sale," said the HTW valuer. 
In the horticultural space, there has also been little recent sales activity, stated the HTW report. 
Late summer is typically a slow period, as many of the local producers are preoccupied with their harvests. Early reports suggest average to slightly above average yields for almond crops as well as table and wine grapes.
Good news for wine grape growers are prices of around $600 per tonne for most red varieties this season, which is 50% higher than what was being offered two years ago and should ensure continued investment by growers. The improved prices are less pronounced for white varieties such as Chardonnay.
"Irrigation water availability remains a key concern. The cost of leasing water is currently just under $500 per megalitre, which is a significant cost for those irrigators reliant on leased water," said HTW. 
The risk of ongoing dry conditions in the catchment is affecting confidence and is considered to be contributing to a reduced number of horticultural property sales. Local agents also confirm reduced demand for greenfield sites, due mainly to the spike in water prices. 
"A large-scale almond orchard in the Renmark region, which has further development potential, is currently being advertised for sale.
"The outcome will be keenly watched as it will be a good litmus test for corporate investment in the local horticultural space." 
A 50 acres of freehold land in multiple tiles has been listed for $500,000 (pictured above).
The property at<a href="https://www.realestate.com.au/property-farmlet-vic-mildura-700015554" target="_blank"> 104 &amp;95-115 Etiwanda &amp; Benetook Avenue</a> comes with two bedroom home plus studio, car and workshop shedding, well established river red gums, cotton wood trees and garden.
It has been fenced into numerous paddocks with established improved pastures water by flood irrigation/drainage supply or low levels direct from the Murray River.
<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/2019/3/5/mildura%202.jpg" alt="">
Another $720,000 - $770,000 listing in Mildura is a 11.6 hectare vineyard (pictured above).
Located at <a href="https://www.realestate.com.au/property-viticulture-vic-mildura-7966530" target="_blank">3494 San Mateo Avenue</a>, it comes with low level irrigation, electric pump, shed with workshop and cool room.
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Sale activity slows in Mildura rural market: HTW

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The retiring Federal Labor politician Jenny Macklin has sold the home in her Melbourne electorate.
Her East Ivanhoe home (above) secured $3.15 million for the member of Jagajaga.
Macklin has now has bought in Parkville.
She's spent $2,075,000 on an upper level apartment in <a href="https://www.realestate.com.au/sold/property-apartment-vic-parkville-128876606" target="_blank">the Fender Katsalidis-designed Arcadia block</a> (below) with her partner Ross Turner.
<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/2019/3/18/Fender.jpg" alt="">
The apartment has three bedrooms and two bathrooms.
Macklin had called Ivanhoe East home since the mid 1990s when she paid $365,000 for the 1950s, three bedroom home in 1,415 sqm of native gardens back in 1996, the year she was first elected.
Macklin was a minister in the Rudd and Gillard Governments from 2007 to 2013, having previously been her party's deputy leader from 2001 to 2006.
This article was first published in the Weekend Australian. 
 
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Retiring Labor politician Jenny Macklin moves out of electorate

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.

&nbsp;

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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