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A timber cabin on five acres is coming up for auction just out of Mackay, in North Queensland.
Hazledean is both the name of a small township and the cabin itself.
The marketing agent Hayley Van de Ven says it’s ‘cute as a button’.
The one-bedroom house has electricity, hot and cold running water, a fire place, a kitchen and bathroom.
<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/2018/5/15/Mackay%20cabin%20extern1.jpg" alt="">
The property is fully fenced, and close to a dam where you can fish or catch yabbies.
Van de Ven describes Hazledean as ‘a cabin straight out of Dr Quinn Medicine Woman’, the American Western drama series set in Colorado Springs in the late 1860s, which went to air in the 1990s.
"It is easy to imagine Jane Seymour as Dr. Quinn knocking on the cabin door to visit a patient!"
The June 2 auction is on behalf of the Wiri Yuwiburra Community Benefits Trust, with the property now surplus to the requirements of the Trust.
Hazledean is a 40 minute drive on bitumen road from Mackay, along the Peak Downs Highway.
Van de Ven says an adjoining property, also on the market, would make an ideal B&amp;B, with two houses already on the site.
Offers of over $375,000 are sought for this 3.5 acre property, which has a running creek and secret garden, sheds and containers onsite.
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j.ballantyne1990-6AQqhLzZaK

Unusual Mackay cabin with frontier touches listed for auction

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Deloraine, a 600 hectare cattle farm at 500 Old Hume Highway, Beveridge has sold for about $200 million.
The cattle farm on Melbourne’s northern fringe was bought by a Melbourne-based developer.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-beveridge-502743854" target="_blank">500 Old Hume Highway</a> holding is likely to be turned into about 6000 residential blocks.
Beveridge, 42 kilometres north of the city, is famed for being bushranger Ned Kelly’s first home town.
It sold through Biggin &amp; Scott Land agent Frank Nagle.
It was sold by members of the Laffan family, which had run cattle in the area for about 100 years.
The Laffans reportedly bought the property in 1964 for less than £90,000.
<a href="https://www.bigginscottland.com.au/500-old-hume-highway-vic-beveridge-4178061/" target="_blank">Deloraine </a>was previously owned by late wool industry leader Douglas Boyd.
Ned Kelly's father Red built their first home in Beveridge in 1859.
<img src="https://www.realestate.com.au/blog/images/1600x1600-fit,progressive/2018/05/09171252/capi_bfd78b367a5e1188a06378c3b6678708_041b66c3436a1e6517677dd60ab8f64c.jpeg" alt="500 Old Hume Highway Beveridge, for Herald Sun rea" data-capiid="041b66c3436a1e6517677dd60ab8f64c">
The Laffan family has owned Deloraine for 54 years.
The Herald Sun reported the buyer of the site was Akron Property Group, which is behind another housing development in the western suburb of Rockbank and two apartment towers in the Melbourne CBD.
The site is next to Stockland’s 11,000-block Cloverton housing development and near MAB Corp and Gibson Property Group’s $8 billion Merrifield mixed-use estate in Mickleham.
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Beveridge cattle farm sells for $200 million

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GUEST OBSERVATION
Amid the politics, it’s sometimes easy to forget that the Murray-Darling Basin Plan was originally designed primarily to restore the rivers’ environment. While questions have been raised over the plan’s governance, economics, and political commitment by the states, it is important to note that, more than five years after the plan’s adoption, the environmental benefits are slowly but surely being seen.
The Long-Term Intervention Monitoring Project began in 2014 to monitor and evaluate environmental outcomes from Commonwealth environmental water – the water being delivered into the Murray-Darling Basin by the plan.
We are leading independent teams of researchers and consultants in monitoring seven selected areas across the Murray-Darling Basin, and then scaling up those results to deduce the health of the basin as a whole.
<img src="https://images.theconversation.com/files/216603/original/file-20180427-175047-1mbewa4.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
The seven monitoring sites. Author provided
Three and a half years into an initial five-year program, we are generally seeing environmental changes of the types and magnitudes expected at this stage of the plan.
Plans, predictions and possibilities
It’s not widely known what environmental water can and cannot do, and how different environmental indicators will respond at different rates. The Basin Plan’s objectives focus on fish, bird and vegetation communities – and in all of these areas, the changes will take time.
Under the plan, we expect that it will take more than a decade from the start of flow delivery before large-scale changes become evident. Detecting these changes will require both time and high-quality data.
What’s more, Commonwealth environmental water is a relatively small proportion of what once flowed through these systems. The government currently holds entitlements to 1,836 billion litres, which is less than 6% of average system inflows (the rainfall that makes it into the river system).
This is not enough water to restore natural flow patterns. Along with other constraints, such as the pressure to keep water off floodplains, this means that managers need to be extremely selective about where, when and how water is delivered for environmental benefits.
What are we monitoring?
While we are monitoring fish, birds and vegetation to allow us to measure progress towards the Basin Plan’s objectives, we are also monitoring shorter-term responses. These responses provide data on environmental processes that will allow us to predict whether we can expect the Basin Plan ultimately to deliver on the promised long-term improvements.
A good example of this is golden perch, a threatened and iconic native fish species in the Murray-Darling Basin. Long-term changes in the adult population will only be seen if shorter-term processes, such as migration and spawning, occur. Environmental water should help these processes, and we are monitoring those outcomes.
Adult fish respond to high flows in spring, moving downstream to spawn. Eggs and larvae are washed further downstream, so to bring new fish into the local population, high flow events in autumn can be used to attract juvenile fish back into a river. Golden perch move over very large distances, and as adults they may end up living in a different river from where they were spawned.
If environmental water is used to achieve all these processes, then over years to decades, we will see an increase in adult golden perch numbers.
<img src="https://images.theconversation.com/files/216605/original/file-20180427-135538-17ka5au.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Adult golden perch fitted with a tag to track its movements. Wayne Koster/Arthur Rylah Institute, Author provided
Quicker results
Not everything takes decades, however. We have already been able to detect some shorter-term benefits from the plan. Here are some examples from around the Basin:
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Lower Murray: environmental water has reduced salinity in the Coorong and increased salt export through the Murray mouth
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Edward-Wakool: environmental water has provided refuges for aquatic fauna during low-oxygen “black water” events caused by floods in 2010 and 2016, reducing impacts on fish populations
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Murrumbidgee: environmental water has been crucial in helping endangered populations of the vulnerable southern bell frog to recover
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Gwydir: environmental water allowed the production of 1,000 tonnes of zooplankton over 90 days, in turn providing food for fish and higher predators
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Warrego-Darling: environmental water has maintained flows in a system that would have otherwise dried to a series of isolated pools, maintaining food webs and stimulating fish breeding.
</li>
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Alternative outcomes
Besides reporting progress, our monitoring program also allows us to make predictions of what the system might have looked like with different environmental flows, or with no environmental flows at all.
In the Lachlan River in New South Wales, environmental water has been used to support a major bird breeding event by extending the period of flooding. Without this water, nests would have been abandoned, leaving thousands of fledglings to die.
<img src="https://images.theconversation.com/files/216607/original/file-20180427-175077-1rwhx2l.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Straw necked Ibis chicks from the Lachlan River. Mal Carnegie/Lake Cowal Association, Author provided
We also share our results with environmental water managers to help improve the effectiveness and efficiency of environmental water delivery – a process called adaptive management. In the Goulburn River in Victoria, we have learned that the release of environmental water to help riverbank vegetation is more effective if delivered earlier in spring. Riverbank vegetation has now improved so much that metal pins being used to monitor erosion and sediment deposition can’t be found without a metal detector.
In it for the long haul
One criticism of the Basin Plan is that there is no evidence yet of basin-wide improvements. For some indicators this is to be expected because of the long time frames of response of the Basin Plan objectives. However, we have already reported on basin scale changes of other indicators, such as vegetation.
Also, the assessment of Commonwealth environmental water delivery shows that across the basin, we are creating the types of flow events expected to lead to beneficial environmental outcomes at broad scales.
<img src="https://images.theconversation.com/files/216606/original/file-20180427-137525-1mj0jlf.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Environmental water release to improve water quality in the Edward-Wakool system. Photo: Commonwealth Environmental Water Office, Author provided
The politics of the Murray-Darling Basin Plan will probably always be fraught. But as the group charged with assessing environmental progress, we want the debate on its effectiveness to be underpinned by sound evidence from independent experts.
The Long-Term Intervention Monitoring Project, along with other research and monitoring, is providing that evidence.
So, while the Basin Plan’s objectives will take a long time to be realised, there are positive signs that it is slowly achieving its major goal of improving environments in the Murray-Darling Basin, underpinning more sustainable social, environmental and economic outcomes into the future.
Angus Webb, Senior Lecturer and quantitative ecologist, University of Melbourne
Darren Ryder, Professor of Aquatic Ecology and Restoration, University of New England
Fiona Dyer, Associate professor, University of Canberra; Michael Stewardson, Professor, University of Melbourne
Mike Grace, Associate Professor, Monash University
Nick Bond, Professor, La Trobe University
Paul Frazier, Adjunct Senior Lecturer, University of New England
Qifeng Ye, Principal Scientist, Inland Waters and Catchment Ecology Program
Rick Stoffels, Senior Scientist, CSIRO; Robyn J Watts, Professor of Ecology, Charles Sturt University
Samantha Capon, Research Fellow in Ecology, Griffith University
Skye Wassens, Associate Professor in Ecology, Charles Sturt University
<img src="https://counter.theconversation.com/content/93568/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">This article was coauthored by Mark Southwell, Geomorphologist, Eco Logical Australia; and Shane Brooks, Director, LitePC Technologies.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/it-will-take-decades-but-the-murray-darling-basin-plan-is-delivering-environmental-improvements-93568" target="_blank">original article</a>.
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The Murray Darling Basin Plan is starting to deliver environmental improvements

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EXPERT OBSERVATION
When we think about infrastructure it’s most often about bridges or roads – or, as in this week’s federal government AU$1.9 billion <a href="https://www.education.gov.au/government-response-2016-national-research-infrastructure-roadmap" target="_blank">National Research Infrastructure announcement</a>, big science projects. These are large assets that can be seen and applied in a tangible way.
It’s not hard to get excited over <a href="https://www.education.gov.au/funded-research-infrastructure-projects" target="_blank">money that will support</a> imaging of the Earth, or the <a href="https://www.ala.org.au/" target="_blank">Atlas of Living Australia</a>.
But important as these projects are, there’s a whole set of infrastructure that rarely gets mentioned or noticed: “soft” infrastructure. These are the services, policies or practices that keep academic research working and, now, open.
Soft infrastructure was not featured in this week’s announcement linked to budget 2018.
Ignored infrastructure
An absence of attention paid to soft infrastructure isn’t just the case in Australia, it’s true globally. This is despite the fact that such infrastructure is core to running the hard infrastructure projects.
For example, the <a href="https://www.openssl.org/" target="_blank">Open SSL software library</a> – which is key to the security of <a href="https://whatis.techtarget.com/definition/OpenSSL" target="_blank">most websites</a> – has just a handful of paid individuals who work on it. It’s supported by fragile <a href="https://www.propertyobserver.com.au/https://figshare.com/articles/Software_in_Research_Underappreciated_and_Underrewarded/5518933/1" target="_blank">finances</a>. That’s a pretty frightening thought. (There’s another issue in that researchers doing this work get no academic credit for their efforts, but that’s a topic for another time.)
There are other high profile, globally used, open science infrastructures that also exist hand to mouth. The <a href="https://doaj.org/" target="_blank">Directory of Open Access journals</a> which began at Lund University relies entirely on voluntary donations from supporting members and on occasional sponsorship.
Similarly, <a href="http://www.sherpa.ac.uk/romeo/index.php" target="_blank">Sherpa Romeo</a> – the open database of publishers’ policies on copyright and self-archiving – came out of projects at Nottingham and Loughborough Universities in the UK.
In some ways these projects’ high visibility is part of their problem. It’s assumed that they are already funded, so no-one takes responsibility for funding them themselves – the dilemma of collective action.
Supporting open science
Other even more nebulous types of soft infrastructure include the development and oversight of standards that support open science. One example of this is the need to ensure that the metadata (the essential descriptors that tell you for example where a sample that’s collected for research came from and when, or how it relates to a wider research project or publication) are consistent. Without consistency of metadata, searching for research, making it openly available or linking it together is much less efficient, if not impossible.
Of course there are practices in place at individual institutions as well as national organisations. The soon-to-be-combined organisations -Australian National Data Service, the National eResearch Collaboration Tools and Resources project and Research Data Services (<a href="https://www.ands-nectar-rds.org.au/" target="_blank">ANDS-Nectar-RDS</a>) - are supported by national infrastructure funding. These provide support for data-heavy research (including for example the adoption of <a href="https://www.force11.org/group/fairgroup/fairprinciples" target="_blank">FAIR</a> - Findable, Accessible, Interoperable and Reusable standards for data).
But without coherent national funding and coordination, specifically for open science initiatives, we won’t get full value from the physical infrastructure just funded.
What we need
What’s needed now? First, a specific recognition of the need for cash to support this open, soft infrastructure. There are a couple of models for this.
In an article last year it was suggested that libraries (but this could equally be funders – public or philanthropic) should be committing around <a href="http://intheopen.net/2017/09/join-the-movement-the-2-5-commitment/" target="_blank">2.5% of their budget</a> to support open initiatives. There are some international initiatives that are developing specific funding models - <a href="http://scoss.org/" target="_blank">SCOSS</a> for Open Science Services and <a href="https://www.numfocus.org" target="_blank">NumFocus</a> for software.
But funding on its own is not enough: we need a coordinated national approach to open scholarship – making research available for all to access through structures and tools that are themselves open and not proprietary.
Though there are groups that are actively pushing forward initiatives on open scholarship in Australia – such as the <a href="https://aoasg.org.au/" target="_blank">Australasian Open Access Strategy Group</a>, the <a href="http://www.caul.edu.au/" target="_blank">Council of Australian University Librarians</a>, and the <a href="https://acola.org.au/" target="_blank">Learned Academies</a> as well as the <a href="http://www.arc.gov.au/arc-open-access-policy" target="_blank">ARC</a> and <a href="https://www.nhmrc.gov.au/grants-funding/policy/nhmrc-open-access-policy" target="_blank">NHMRC</a> who have open access policies - there is no one organisation with the responsibility to drive change across the sector. The end result is inadequate key infrastructure - for example, for interoperability between research output repositories.
We also need coherent policy. The government recognised a need for national and states policies on open access in its response to the <a href="https://www.communications.gov.au/departmental-news/government-response-productivity-commissions-intellectual-property-report" target="_blank">2016 Productivity Commission Inquiry on Intellectual Property</a>, but as yet no policy has appeared.
It’s reasonable to ask whether in the absence of a national body that’s responsible for developing and implementing an overall approach, what the success of a policy on its own would be. Again, there are international models that could be used.
Sweden has a Government Directive on Open Access, and a <a href="http://www.kb.se/dokument/open%20access/OpenAccess_National_Library_Sweden_2017_2019.pdf" target="_blank">National Body for Coordinating Open Access</a> chaired by the Vice-chancellor of Stockholm University.
The Netherlands has a <a href="https://www.neth-er.eu/en/news/Netherlands-Publishes-National-Plan-Open-Science" target="_blank">National Plan for Open Science</a> with wide engagement, supported by the Ministry of Education, Culture and Science. In that country, the Secretary of State, Sander Dekker, has been a key champion.
The EU has had a long commitment to open science, underscored recently by the appointment of a high-level envoy with specific responsibility for open science, <a href="https://horizon-magazine.eu/article/open-access-scientific-publications-must-become-reality-2020-robert-jan-smits_en" target="_blank">Robert-Jan Smits</a>.
Private interests might take over
Here’s the bottom line: national coordinated support for the soft infrastructure that supports open science (and thus the big tangible infrastructure projects announced) is not just a “nice to have”.
One way or another, this soft infrastructure will get built and adopted. If it’s not done in the national interest, for-profit companies will step into the vacuum.
We risk replicating the same issues we have now in academic publishing - which is in the hands of multi-billion dollar companies that report to their shareholders, not the public. It’s clear how well that is <a href="https://theconversation.com/publisher-pushback-puts-open-access-in-peril-42050" target="_blank">turning out</a> – publishers and universities globally are in <a href="https://sparcopen.org/our-work/big-deal-cancellation-tracking/" target="_blank">stand offs</a> over the cost of publishing services, which continue to rise inexorably, year on year.
Virginia Barbour<a href="https://theconversation.com/profiles/virginia-barbour-170992" target="_blank"></a>, Director, Australasian Open Access Strategy Group, <a href="http://theconversation.com/institutions/queensland-university-of-technology-847" target="_blank">Queensland University of Technology</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/what-was-missing-in-australias-1-9-billion-infrastructure-announcement-96723" target="_blank">original article</a>.
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Australia's $1.9 billion infrastructure announcement - what was missing?

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Desane Properties' win in the Supreme Court regarding the compulsory acquisition of its 5,274m property at Rozelle, has been challenged by the Roads and Maritime Services.
The NSW Crown Solicitor’s Office informed Desane’s lawyers, Levitt Robinson Solicitors, that they intend to seek leave to appeal to the NSW Court of Appeal.
It will challenge the Supreme Court’s finding made in early May in respect of the formal validity of the Proposed Acquisition Notice issued to Desane, as well as his Honour’s finding that the PAN was given for an improper purpose.
The NSW Crown Solicitor’s Office advised that they would seek to expedite the appeal because “his Honour’s judgement causes significant uncertainty for a large number of pending and future acquisitions of land under the Land Acquisition (Just Terms Compensation) Act 1991 by the State of New South Wales and its agencies”.
Desane Chairman, Professor John Sheehan AM, said he was disappointed "that following the comprehensive judgement, RMS have not heeded the advice of NSW Premier Gladys Berejiklian, when she publicly stated that the RMS needed to respect what the Court had decided and she expected them to move forward in a positive way”.
 
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Desane win in Rozelle compulsory acquisition court case faces appeal from RMS

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A Ravida Homes-built family residence on the Golden Mile at Templestowe has been sold for $3.67 million.
It was sold by Dallas Taylor and Shaun Wang from Jellis Craig Doncaster.
Set on a flat acre allotment,<a href="https://www.realestate.com.au/sold/property-house-vic-templestowe-128055378" target="_blank"> the 167-173 Serpells Road </a>house features four large bedrooms, a refined living domain flowing through to formal dining, French styled kitchen, and rear north-facing garden.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/15/templestowe%204.jpg" alt="">
Other features include rumpus/drawing room, alfresco dining area,  water fountain and dual rose gardens.
It is appointed with GDH throughout, refrigerated cooling downstairs and evaporative cooling upstairs, laundry with BI cabinetry, garden irrigation and lighting, video intercom entrance and automated custom designed wrought iron gates.
<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/2018/5/15/templestowe.jpg" alt="">
In addition, the home comes with dual entry with a circular driveway and remote DLUG with internal access plus OSP.
It is only to minutes to Templestowe Village, The Pines and Westfield and close to Ruffey Lake Park, Kew school buses, zoned schools.
It was last traded for $485,000 in 1992.
<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/2018/5/15/Temoplestowe%203.jpg" alt=""> 
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Templestowe Golden Mile trophy home sold for $3.69 million

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A Broadmeadows three bedroom house has been sold by mortgagees for $480,000.
It was listed by Andrew Butler and Annabelle Robinson from Brad Teal.
<a href="https://www.realestate.com.au/sold/property-house-vic-broadmeadows-127979194" target="_blank">Located at 6 Wilby Court</a>, the Victorian house comes with three bedrooms, large lounge and good size kitchen/meals.
Other features include a separate laundry, enclosed alfresco room and deep backyard basking in northerly sun.
It is with quick access to schools, Broadmeadows Central Shopping Centre and public transport.
The median house price sits on $550,000, according to CoreLogic.
The property last sold at $35,000 in 1992.
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Broadmeadows three bedroom house sold by mortgagee

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GUEST OBSERVATION
Australia’s property market is slowing and many people are contemplating a possible bust. But in this episode of Essays On Air (<a href="https://theconversation.com/essays-on-air-australias-property-boom-and-bust-cycle-stretches-back-to-colonial-days-96415" target="_blank">available to stream or download from this link</a>) reminds us that even since colonial days, Australia’s property market has had its ups and downs.
Today, University of Sydney urbanism researchers Alistair Sisson and Dallas Rogers narrate a recent <a href="https://www.tandfonline.com/doi/full/10.1080/00049182.2018.1464365" target="_blank">essay</a> they wrote for the journal Australian Geographer on boom and bust cycles in major Australian cities.
It’s titled <a href="https://www.tandfonline.com/doi/full/10.1080/00049182.2018.1464365" target="_blank">Property speculation, global capital, urban planning and financialisation: Sydney Boom, Sydney Bust redux</a>. It was recorded and edited by Dallas Rogers and written with Alistair Sisson and Chris Gibson for the 100th anniversary of the journal <a href="https://www.tandfonline.com/doi/full/10.1080/00049182.2018.1464365" target="_blank">Australian Geographer</a>.
The audio version features the voices of Roderick Chambers and Kevin Suarez, producers from the community radio station <a href="https://2ser.com/">2SER</a>.
The authors would like to acknowledge the Gadigal people of the Eora nation, upon whose land their research takes place.
Find us and subscribe in <a href="https://itunes.apple.com/au/podcast/essays-on-air/id1333743838?mt=2" target="_blank">Apple Podcasts</a>, in <a href="https://play.pocketcasts.com/" target="_blank">Pocket Casts</a> or wherever you get your podcasts.
Additional audio
<a href="http://freemusicarchive.org/music/Blue_Dot_Sessions/Castro/Strange_Dog_Walk" target="_blank">Strange Dog</a> by Blue Dot Sessions
<a href="http://freemusicarchive.org/music/mGee/Old_Orchard_Beach_EP/08_-_Atlantic_State_of_Mind_A_Long_Winter" target="_blank">Atlantic State of Mind (A Long Winter)</a> by McGee
<a href="http://freemusicarchive.org/music/Trans_Alp/Aprs_Quatre_Pices_dErik_Satie/Camomille_-_Aprs_quatre_pices_dErik_Satie_-_02_Gnossienne_N3" target="_blank">Gnossienne No3</a> by Trans Alp
Soundscape audio sourced from <a href="http://www.freesound.org/" target="_blank">freesound.org</a>
<img src="https://counter.theconversation.com/content/96415/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1"><a href="http://freemusicarchive.org/music/Ryan_Cullinane/20170730112629350/Hip_Horns_With_Drums" target="_blank">Hip Horns With Drums</a> by (none given)
Dallas Rogers, Program Director, Master of Urbanism. School of Architecture, Design and Planning, University of Sydney
Alistair Sisson, PhD Candidate, Urban Geography, University of Sydney
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/essays-on-air-australias-property-boom-and-bust-cycle-stretches-back-to-colonial-days-96415" target="_blank">original article</a>.
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Podcast: Australia’s property boom and bust cycle stretches back to colonial days

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EXPERT OSBERVATION
The Reserve Bank of Australia (RBA) is making an explicit trade-off between inflation and financial stability concerns. And this could be weighing on Australians’ wages.
In the past, the RBA focused more on keeping inflation in check, the usual role of the central bank. But now the bank is playing more into concerns about financial stability risks in explaining why it is persistently undershooting the middle of its inflation target.
In the wake of the global financial crisis, the federal Treasurer and Reserve Bank governor signed an updated <a href="http://www.rba.gov.au/monetary-policy/framework/stmt-conduct-mp-5-30092010" target="_blank">agreement</a> on what the bank should focus on in setting interest rates. This included a new section on financial stability.
That statement made clear that financial stability was to be pursued without compromising the RBA’s traditional focus on inflation.
The latest <a href="http://www.rba.gov.au/monetary-policy/framework/stmt-conduct-mp-7-2016-09-19" target="_blank">agreement</a>, adopted when Philip Lowe became governor of the bank in 2016, means the bank can pursue the financial stability objective even at the expense of the inflation target, at least in the short-term.
While the RBA board has <a href="https://www.rba.gov.au/monetary-policy/rba-board-minutes/2018/2018-02-06" target="_blank">explained</a> its recent steady interest rate decisions partly on the basis of risks to financial stability, this sits uneasily with what the RBA otherwise has to say about underlying fundamentals of our economy.
It correctly blames trends in house prices and household debt on a lack of supply of housing, and not on excessive borrowing. These supply restrictions amplify the response of house prices to changes in demand for housing. RBA <a href="https://www.rba.gov.au/publications/rdp/2018/pdf/rdp2018-03.pdf" target="_blank">research</a> estimates that zoning alone adds 73% to the marginal cost of houses in Sydney.
<a href="http://www.apra.gov.au/MediaReleases/Pages/14_30.aspx" target="_blank">Restrictions</a> on lending growth by the Australian Prudential Regulation Authority since the end of 2014 have been designed to give housing supply a chance to catch-up with demand and to maintain the resilience of households against future shocks.
The RBA argues that it needs to balance financial stability risks against the need to stimulate the economy through lower interest rates. But this has left inflation running below the middle of its target range and helps explain why wages growth has been weak.
The official cash rate has been left unchanged since August 2016, the longest period of steady policy rates on record. The fact that inflation has undershot its target of 2-3% is the most straightforward evidence that monetary policy has been too restrictive.
While long-term interest rates in the US continue to rise, reflecting expectations for stronger economic growth and higher inflation, Australia’s long-term interest rates have languished.
Australian long-term interest rates are below those in the US by the <a href="https://fred.stlouisfed.org/graph/fredgraph.png?g=jRoG" target="_blank">largest margin</a> since the early 1980s. This implies the Australian economy is expected to underperform that of the US in the years ahead.
Inflation expectations (implied by Australia’s long-term interest rates) have been stuck around 2% in recent years, below the Reserve Bank’s desired average for inflation of 2.5%.
Financial markets can be forgiven for thinking the RBA will not hit the middle of its 2-3% target range any time soon. The RBA doesn’t believe it will either, with its deputy governor Guy Debelle repeating the word “gradual” no less than 12 times in a <a href="https://www.rba.gov.au/speeches/2018/sp-dg-2018-05-15-1" target="_blank">speech</a> when describing the outlook for inflation and wages.
Inflation has been below the midpoint of the target range since the December quarter in 2014. On the RBA’s own <a href="https://www.rba.gov.au/publications/smp/2018/feb/" target="_blank">forecasts</a> inflation isn’t expected to return to the middle of the target range over the next two years.
The Reserve Bank blames low inflation on slow wages growth, claiming in its most recent <a href="https://www.rba.gov.au/publications/smp/2018/feb/" target="_blank">statement on monetary policy</a> that “labour costs are a key driver of inflationary pressure”. But this is putting the cart before the horse.
In fact, <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/1475-4932.12401?af=R" target="_blank">recently published research</a> shows that it is low inflation expectations that are largely to blame for low wages growth.
Workers and employers look at likely inflation outcomes when negotiating over wages. These expectations are in turn driven by perceptions of monetary policy.
Below target inflation makes Australia less resilient to economic shocks, not least because it works against the objective of stabilising the household debt to income ratio. Subdued economic growth and inflation also gives the economy a weaker starting point if and when an actual shock does occur, potentially exacerbating a future downturn.
When the RBA governor and the federal treasurer renegotiate their agreement on monetary policy after the next election, the treasurer should insist on reinstating the wording of the 2010 statement that explicitly prioritised the inflation target over financial stability risks.
<img src="https://counter.theconversation.com/content/96714/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">If the RBA continues to sacrifice its inflation target on the altar of financial stability risks, inflation expectations and wages growth will continue to languish and the economy underperform its potential.
<a href="https://theconversation.com/profiles/stephen-kirchner-1726" target="_blank">Stephen Kirchner</a>, Program Director, Trade and Investment, United States Studies Centre, <a href="http://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of Sydney</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/the-rbas-shift-to-worrying-about-financial-stability-could-be-hurting-australian-wages-96714" target="_blank">original article</a>.
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Australian wages could be effected by RBA's growing financial stability concerns

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Essendon's house price record has been broken yet again - for the third time in eight months.
The record price in the northwest Melbourne suburbs was secured when a 1930s Tudor-style mansion at 41 Leslie Road is understood to have fetched about $8 million earlier this month.
The historic six-bedroom home — occupying a 2168 square metre landholding with a tennis court and pool — had been quoted at $7.775 million to $8.5 million by McDonald Upton Essendon.
It has taken the benchmark from 1903 landmark Enderby at 1 Riverview Road, which sold for more than $5.5 million in March.
The neighbouring 3 Riverview Road’s $4.53 million record sale from September.
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Essendon record house price broken - again

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

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[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

Staff reporter

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