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A 1972 Woolwich home designed by architect Philip Cox has been sold at $3.25 million.
The design was marketed as showcasing trendy character and flexible interiors when listed with $3.4 million hopes.
Its light filled arrangement including multiple skylights, along with polished timber floors and a working wood fireplace in the heart of Woolwich.
<a href="https://www.realestate.com.au/sold/property-house-nsw-woolwich-127442550" target="_blank">The 14 Gale Street offering</a> was listed through Ward Partners.
It previously sold at $1.49 million in 2009 and $695,000 in 1994.
The Modernish Australia website suggested it "expresses an almost rural-flavoured simplicity".
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j.ballantyne1990-6AQqhLzZaK

1972 Philip Cox-designed Woolwich home sold

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The Singaporean developer and hospitality group Roxy-Pacific has sold an office building in Sydney’s CBD for $153 million.
In an aftermarket filing on Friday, Roxy-Pacific says the sale WAs subject to the findings of a due diligence exercise and the approval of both parties’ boards of directors.
Its 117 Clarence Street purchaser is an Australian-domiciled institutional investor whose name was not disclosed.
Roxy bought the 11-storey property at 117 Clarence Street from Altis Property Group in 2015 for US$81 million ($108.1 million) with the Tong Eng Group.
The building is 100% occupied with a net lettable area (NLA) of 12,517 sq m, and a weighted average leasehold expiry (WALE) by income of 2.6 years.
The impact of recent stock withdrawals for residential conversion had led to unprecedented demand for B Grade office space in the Sydney CBD, according to recent research from Savills Australia, who noted the subsequent spike in rents.
Savills noted Sydney’s Western Corridor was a precinct that is undergoing a "vast transformation" both commercially and culturally.
The precinct is fast becoming a regional centre for Asia Pacific’s financial services leaders as well as offering an array of small bars and fine dining options, it noted.
Positioned 120 metres from Wynyard Station and Bus Interchange, 117 Clarence occupies a large corner site of over approximately 1,231 sqm.
The building has undergone a series of capital upgrades including advancements in the lift rides and door mechanisms as well high quality end of trip facilities (bike racks, showers and change rooms).
The property was listed for sale through Simon Fenn, Ian Hetherington and Ben Azar of Savills Australia and Richard Butler, Josh Cullen and Steven Kearney of Inc RE.
About 60 per cent of leases within the building expire before 2020 and 41 per cent of income is underwritten by Government. The building has a 4.5-star NABERS Energy rating.
 
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Roxy-Pacific sells Clarence Street, Sydney office block for $153 million

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Nardoo, a Riddells Creek country property in Victoria's Macedon Ranges has been sold by Dr Paul Carter, who published memoirs in his book Tales of a Country Doctor, then his 2014 publication, Further Tales of a Country Doctor.
Since being taken up in the late 1880s, the 165 hectare estate has been owned by only a few.
Ivor Manton, one of two brothers who ran the then prestigious Manton's department store, was a prior owner.
During World War II prisoners of war were kept at the property. Four Italian prisoners worked on the farm during the day and were locked-up in the upper storey of an outbuilding at night.
Nardoo is split up in to three lots and has three houses, stables, a tennis court and a three hole golf course. The custom-built main house was designed by Alistair Knox in the 1970s. It comes with Matchem Skipper-designed chandeliers.
Kennedy &amp; Hunt agent Jason Kennedy <a href="https://www.realestate.com.au/property-mixed+farming-vic-riddells+creek-7949998" target="_blank">had the listing</a> with $4 million to $4.4 million hopes.
The property, with 25 paddocks, came with shearing shed that can handle 150 sheep at a time.
There was a stallion standing area, stallion parade area, amphitheatre and function centre   It came with three stable complexes, totalling 15 stables including mare &amp; foal stable, nine post and rail quarantine day yards, and a vetting facility   The farm had 1.4 metre electric rail/wire mesh fencing, along with 2 metre high perimeter kangaroo proof fencing.
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Nardoo, Riddells Creek country property sold by Dr Paul Carter

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GUEST OBSERVATION
Revitalisation projects aimed at increasing residential populations in inner urban areas since the 1980s have resulted in almost wholesale expulsion of the marginally housed. The now mythic “doughnut city” that Melbournians became so embarrassed about, and so proud to repopulate, was in fact a city that housed its homeless.
The critic John Berger observed: "The 20th-century consumer economy has produced the first culture for which a beggar is a reminder of nothing."
We might ponder his concern in the Australian city today where the homeless have never been more visible and yet so ignored in mainstream urban discussion.
Infrastructure Australia’s recent report, Future Cities: Planning for our growing population, doesn’t mention homelessness once. This is sadly typical of major urban policy statements in the past few decades, many of which have championed inner-city renewal.
From doughnut city to cafe society
Melbourne, like most Western cities, experienced population decline in its core from the 1960s as relentless suburbanisation drew population outwards.
In 1977, the Melbourne Metropolitan Board of Works chairman, Alan Croxford, lamented: "Melbourne’s trend towards a ‘doughnut’ type of development is revealing the first signs of serious problems experienced in other cities of the world."
<a href="https://images.theconversation.com/files/212173/original/file-20180327-109193-1ujvgrb.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/212173/original/file-20180327-109193-1ujvgrb.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
The Department of Infrastructure’s 1998 report, From Doughnut City to Café Society. Author provided
Similarly, Jan Ghel describes Melbourne in the 1970s as a “neutron-bombed” city. The architectural commentator Norman Day portrayed it as “an empty useless city centre”.
The “doughnut” trope certainly stuck in the planning imagination. Urban strategies and programs in the 1990s were decidedly aimed at reintroducing a residential population and revitalising the city centre.
The Postcode 3000 program and the Keys to the City campaign were a resounding success. Residential accommodation in central Melbourne increased from 738 units in the 1980s to 9,895 units by 2002. The figure today is nearly 30,000 units.
This renaissance has been retailed and celebrated globally. It is, however, partial truth. The uplift was certainly not felt by all.
Melbourne when relief was cheap
<img src="https://images.theconversation.com/files/212174/original/file-20180327-109193-p7cbuv.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Gordon House Lodgings in Little Bourke Street, in the late 1960s, had about 500 beds. Alan Jordan/State Library of Victoria
<a href="https://images.theconversation.com/files/212175/original/file-20180327-109182-cj27t9.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/212175/original/file-20180327-109182-cj27t9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Relocated to Lorimer Street, Gordon House had about 300 beds. Graeme Butler, 1982
<a href="https://images.theconversation.com/files/212179/original/file-20180327-109182-9nqpt4.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/212179/original/file-20180327-109182-9nqpt4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Aerial view of Gordon House on South Wharf, 1979. Wolfgang Sievers/National Library of Australia
<a href="https://images.theconversation.com/files/214444/original/file-20180412-549-19unoty.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/214444/original/file-20180412-549-19unoty.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Aerial view of South Wharf showing the Melbourne Exhibition Centre, built in 1996, located where Gordon House used to be. <a href="https://www.flickr.com/photos/popcorncx/155407300/" target="_blank">Stephen Edmonds/Flickr</a>, <a href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a>
The “doughnut city” in fact offered cheap accommodation for the marginal and homeless. This included night shelters, rooming houses, private residential hotels, and crisis accommodation.
Gauging the exact number of low-cost beds in the inner city at this time is difficult. Homeless population estimates and reported losses in crisis and transitional housing during this period give us some idea.
Alan Jordan’s seminal work on Melbourne’s inner-city homeless population in 1973 noted: “… at any given time in the period there were at least 3,000 and probably 4,000 homeless men within two or three miles of the centre of Melbourne who were currently using night shelters, lodging houses and handouts”.
A 1984 report on the City of Melbourne and its homeless indicated that about 3,700 rooming house rooms were available for rent. These housed an estimated 4,500 people.
In 1990, a report by the Council for Homeless Persons and the Victorian Council of Churches estimated that each night, within 5 kilometres of the GPO, there were 4,000 people in large rooming houses and private hotels, 930 in crisis accommodation, and 530 in squats and sleeping rough. The report estimated that rooming house stock had shrunk by 48% in the seven years from 1981 to 1988.
The erosion of low-cost accommodation in the 1980s and ’90s made way for the repopulation of inner Melbourne. A 1998 study on rough sleeping commissioned by the City of Melbourne reported an overall reduction of 78% in short-term housing stock between 1987 and 1997. This amounted to the loss of 1,400 crisis accommodation and low-cost hotel beds.
This transitional housing was hardly ideal, but its loss deprived homeless people of temporary shelter and no doubt contributed to burgeoning numbers of rough sleepers. It also signifies that Melbourne’s “doughnut city” was never entirely hollowed out. It offered relief to, and was occupied by, the homeless.
More homeless, more visible
<a href="https://images.theconversation.com/files/212180/original/file-20180327-109196-1pxizul.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/212180/original/file-20180327-109196-1pxizul.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Remnants of Melbourne’s Skid Row: Three private hotels on the corner of Spencer and Flinders streets had about 268 low-cost rooms, early 1980s. Public Record Office Victoria<a href="https://images.theconversation.com/files/212182/original/file-20180327-109193-18z8gq9.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/212182/original/file-20180327-109193-18z8gq9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Sir Charles Hotham Hotel on Skid Row, which sold last year for a speculated $30 million. Melbourne History Workshop
Recently released 2016 Census results estimate about 116,000 people are homeless on any given night in Australia. Rough sleepers represent just 7% of the homeless population, but are increasingly visible in Australian cities.
In Melbourne, the increasing visibility of homelessness sits jarringly alongside its growing prestige as a thriving, culturally diverse and vibrant city. Being crowned the world’s “most liveable city” seven years in a row has helped to resurrect the narrative of “Marvellous Melbourne”.
Significant work has been done over this time to provide specialist homelessness services and support in the inner city. But accompanying low-cost accommodation to house the users of these services has become ever more residual. With about 36,000 applicants on the social housing register, and very little increase in supply, the demand for crisis and transitional accommodation is mounting.
Urban renaissance, a mixed tale
Urban redevelopment and displacement are intertwined trends familiar to many cities around the world. As with Melbourne, these revitalisation stories are often partial accounts, which smother more subjugated histories of a city.
By celebrating the demise of a doughnut city and its replacement by a superior café society, “liveable Melbourne” overlooks the vast dispersal that made way for a residential population that reinforces the commercial prospects of the city. The previous, more marginal city dwellers are simply abandoned. Versions of this are recurring today.
None of this is to wish a return to the past but to remind us of what can be lost in contemporary urban narratives – in this case Melbourne’s history of homeless occupation and subsequent displacement.
To heed Berger, the swelling of homelessness should remind us of the property dysfunction and spatial injustice that underlie our cities’ seeming prosperity. We can celebrate successes, but must also concede that urban renaissance is often a mixed tale of blinding optimism for the elite and cruel loss for the poor. Planning for future cities ought to take more care.
Claire Collie, PhD candidate in Urban Planning, University of Melbourne
Brendan Gleeson, Director, Melbourne Sustainable Society Institute, University of Melbourne
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/melbournes-doughnut-city-housed-its-homeless-93062" target="_blank">original article</a>.
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The story of how Melbourne’s ‘doughnut city’ housed its homeless

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GUEST OBSERVATION
Australia is a continent defined by extremes, and recent decades have seen some extraordinary climate events. But droughts, floods, heatwaves, and fires have battered Australia for millennia. Are recent extreme events really worse than those in the past?
In a <a href="https://www.clim-past.net/13/1751/2017/cp-13-1751-2017" target="_blank">recent paper</a>, we reconstructed 800 years of seasonal rainfall patterns across the Australian continent. Our new records show that parts of Northern Australia are wetter than ever before, and that major droughts of the late 20th and early 21st centuries in southern Australia are likely without precedent over the past 400 years.
This new knowledge gives us a clearer understanding of how droughts and flooding rains may be changing in the context of a rapidly warming world.
A history of drought
Australia has been shaped by floods, droughts, and blistering heat. How big and how intense these events were is poorly understood due to the limited historical and observational records.
Historical records provide rough estimates of the extent and intensity of droughts in parts of Australia since the late 1700s. For example, captains’ logbooks from ships anchored off of Sydney describe the Settlement Drought (1790-1793), which threatened the tenuous foothold of early European settlers in Australia. And farmers’ records describe the Goyder Line Drought (1861–1866) that occurred in areas north of the known arable lands of South Australia.
Observational weather records provide more detailed descriptions of climatic variability. However, systematic recording of weather in Australia only began in the late 19th century. Since then many parts of the continent have experienced prolonged wet periods and droughts. The most well known of these are the Federation drought (1895-1903), the World War II drought (1939-45), and the recent Millennium drought (1997-2009).
All three droughts were devastating to agriculture and the broader economy, but each was distinct in its spatial footprint, duration, and intensity. Importantly, these droughts also differed in seasonality.
<img src="https://images.theconversation.com/files/215802/original/file-20180422-75119-l7k2fy.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Recent and historical droughts in Australia for the different natural resource management (NRM) regions. Provided by M.Freund
For example, the Millennium drought, which was most severe in southwestern and southeastern Australia, was caused by poor rainfall during the cool season. In contrast, the Federation drought, which affected almost the entire continent, was predominantly due to rainfall declines during the warm season.
Although the historical and observational records provide a wealth of information about the frequency of wet and dry extremes, they provide only part of the picture.
Looking back
To understand possible trends in rainfall and assess the likelihood of prolonged droughts, we need to understand the long-term climatic context. For this, we need records that are much longer than existing observational and historical records.
Our new study used an extensive network of tree rings, ice cores, corals, and sediment records from across Australia and the adjacent Indian and Pacific Oceans to extend rainfall records across all of the major regions of Australia by between 400 and 800 years. Importantly, we did this for two seasons, the cool (April–September) season and warm (October–March) season, over eight large natural resource management regions spanning the Australian continent. This allows us to place recent observations of rainfall variability into a much longer context across the entire continent for the first time.
We found that recent shifts in rainfall variability are either unprecedented or very rare over the reconstructed period. The two most striking patterns were in tropical northern Australia, which as been unusually wet over the past century, and southern Australia, which has been unusually dry.
Our reconstructions also highlight differences between recent extreme drought events and those in earlier centuries. For example, the Millennium Drought was larger in area and longer than any other drought in southern Australia over the last 400 years.
Our reconstruction also shows that the most intense droughts described in the historical records – the Settlement Drought (1790-93), Sturt’s Drought (1809–30), and the Goyder Line Drought (1861–66) – were limited to specific regions. The Settlement Drought appears to have affected only Australia’s eastern regions, whereas the Goyder Line Drought, which occurred north of the northernmost limit of arable lands in Southern Australia, primarily impacted central Australia and the far north.
These historical droughts varied widely in the area they covered, highlighting at a continental scale the spatial diversity of drought. This spatial variability has also recently been demonstrated for eastern Australia.
<img src="https://counter.theconversation.com/content/94292/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Our multi-century rainfall reconstruction complements the recent Climate Change in Australia report on future climate. By providing a clearer window into climates of the past online, we can better see how extremes of rainfall may affect Australia in the future.
Mandy Freund, PhD student, University of Melbourne
Ben Henley, Research Fellow in Climate and Water Resources, University of Melbourne
Kathryn Allen, Academic, Ecosystem and Forest Sciences, University of Melbourne
Patrick Baker, ARC Future Fellow and Professor of Silviculture and Forest Ecology, University of Melbourne
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/recent-australian-droughts-may-be-the-worst-in-800-years-94292" target="_blank">original article</a>.
Main photo: Lancelot that became a ghost town following the Federation Drought. <a href="https://www.flickr.com/photos/82134796@N03/9520085195/" target="_blank">denisben/flickr</a>, <a href="http://creativecommons.org/licenses/by-nd/4.0/" target="_blank">CC BY-ND</a>
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Recent Australian droughts may be the worst in 800 years

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Demand is heating up for forest breeding country in the Burdekin River Valley from the Belyando in the south to Mount Garnet, Einasleigh and Georgetown in the north.
There is a shortage of forest breeding country on the market, valuer Herron Todd White's recent rural report suggested.
"There is a market disrupter in the room in the form of the Department of Defence," the firm suggested.
HTW advised as this year progresses, the property clock for this region of North Queensland is likely to rise from the nine o’clock (rising) position towards twelve o’clock (peak).
"Depending on how the Defence negotiations play out, this market may see record values later in the year. 
"There is a distinct possibility of vendors re-entering the market as buyers with significantly enhanced cash and reduced debt to acquire replacement cattle stations for the ones that they may have just sold to Defence.
"It will be interesting to see if any of the deals break the springs of the property clock!"
The valuation firm suggested there  ay be some overflow of demand in neighbouring market areas.
"These may include the Desert Uplands and the Hughenden basalts and the Georgetown, Einasleigh and Mount Garnet areas," it suggested.
The following table provides a run around the ridges of the north and north-west Queensland grazing property market areas:
<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/2018/4/6/north%20qld%201.jpg" alt=""><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/2018/4/6/north%20qld%202.jpg" alt=""><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/2018/4/6/north%20qld%203.jpg" alt="">
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Defence acquisitions could boost North Queensland rural market: HTW

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Queensland Government owned properties, once earmarked for the former Glendower Dam project around Beaudesert and Tabragalba, are on the market in the first stage of the open market sales program. 
The properties are a combination of large agricultural holdings, residential houses and lifestyle properties. 
Six properties will be offered by auction for June 7 auction.
These properties comprise of three blocks of vacant land around 50 hectares each, a house on 1.2 hecatres, a house on 20 hectares with frontage to the Albert River and lastly 193 hectares of prime river flats with irrigation licences, houses and sheds. 
The three lifestyle blocks are adjoining and are all fronted by Beaudesert Nerang Road.
One property comprises 193 hectares of rich river flats.
Three water licences are currently attached to the property. It is in eight freehold titles and has frontage to both Beaudesert Nerang Road and Tabragalba House Road. 
The properties are located 60 kilometres from Southport and 70 kilometres from Brisbane. 
Ray White Rural Queensland sales agent Peter Douglas and Ed Dalton, at Ray White Rural Beaudesert have been appointed to manage the sale process. 
“It is a very good mixture with properties in all price brackets," Douglas said. 
Properties will be open for inspections on Sundays. 
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Ray White Rural to sell Glendower Dam sites

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A modern five bedroom in the Central Highlands Region, has been sold at auction for $131,000.
It was sold by Jason Campbell from Blackwater Real Estate.
<a href="https://www.realestate.com.au/sold/property-house-qld-blackwater-127713130" target="_blank">Set on 28 Summer Red Court,</a> Blackwater, it comes with five bedrooms, open plan kitchen/dining/living area, and double lockup garage.
It also features outdoor entertainment area, air-conditioning throughout and ceramic tiles through living area. 
The house had last sold at $472,500 in 2011.
According to CoreLogic, the suburb's median house price sits on $88,750.
A large two storey house in Blackwater, a town in the significant coal mining area in Central Queensland, was sold for $67,000 last month by the mortgagee.
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Modern five bedroom Blackwater, Queensland sold by mortgagee

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EXPERT OBSERVATION
Last week was all about interest rates – even though the RBA and the US Fed kept both of their official rates unchanged at their most recent meetings.
But as usual, what’s likely to happen in the future is the interesting question.
In Australia, all eyes will be on how ASIC and APRA respond to the findings of the banking royal commission. Will they be defensive about past mistakes, or move forward with tighter regulations on banks and financial planning? What will the RBA do in this context?
On interest rates the answer is probably “nothing soon”.
<a href="https://www.rba.gov.au/media-releases/2018/mr-18-11" target="_blank">The official statement</a> by RBA Governor Philip Lowe makes one almost physically feel the contortions.
“The Bank’s central forecast for the Australian economy remains for growth to pick up, to average a bit above 3 per cent in 2018 and 2019. This should see some reduction in spare capacity in the economy.”
OK, growth is about to move up strongly.
“Household income has been growing slowly and debt levels are high.”
Well, that sounds concerning, since <a href="https://tradingeconomics.com/australia/household-final-consumption-expenditure-etc-percent-of-gdp-wb-data" target="_blank">household consumption accounts for nearly 60% of GDP</a>.
Unemployment was getting better, but that’s stopped happening.
“Inflation remains low…with both CPI and underlying inflation running marginally below 2 per cent. Inflation is likely to remain low for some time…A gradual pick-up in inflation is, however, expected as the economy strengthens.”
So inflation has been outside the target band of 2-3% for a very long time, but if that courageous GDP growth forecast pans out then we might end up back in the band.
And on, and on. No wonder US President Harry Truman once lamented “Give me a one-handed economist. All my economists say ‘on one hand…’, then ‘but on the other…’”
In any case, for the foreseeable future it is not what the RBA does, but what the big four banks do that will have the biggest impact on the interest rates Australian borrowers face.
Wholesale funding costs have been ticking up, cutting net interest spreads for the banks. And the wash-up of the Royal Commission is likely to lead to a further tightening of underwriting standards. As ANZ CEO Shayne Elliot put it:
“People are still going to buy a home, so it doesn’t change fundamental demand, but it will change the process and will probably make it harder for people to be successful in their applications.”
Those two factors taken together could easily see a 15-20 basis point increase in rates for home loan borrowers. That might be tempered by potential outrage from the public – banks behave badly and then put their prices up – but the banks have a lot of market power, as history has shown in these matters.
Across the pond, the US Federal Reserve left official rates unchanged from March at 1.5% to 1.75%. That ended, for now, a string of six rate hikes since December 2015.
In a <a href="https://www.federalreserve.gov/newsevents/pressreleases/monetary20180502a.htm" target="_blank">relatively brief statement</a> the Fed noted;
“the labor market has continued to strengthen and that economic activity has been rising at a moderate rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Recent data suggest that growth of household spending moderated from its strong fourth-quarter pace, while business fixed investment continued to grow strongly. On a 12-month basis, both overall inflation and inflation for items other than food and energy have moved close to 2 percent.”
The leading interpretation of this is that the Fed thinks inflation is ticking up and will likely raise rates another 25 basis points at the next meeting if nothing material changes in the economy.
All this is a reminder that monetary policy is as much art as it is science.
It is also worth remembering that the other key function of central banks is prudential regulation. That is where the real changes could be interesting. Fed Chair Jay Powell is known to be much more amenable to deregulation of the financial sector than his predecessor Janet Yellen. It may not be too long before we see those instincts put into action.
<img src="https://counter.theconversation.com/content/96006/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Perhaps the regulatory front will be more interesting than interest rates for the remainder of 2018.
Richard Holden, Professor of Economics and PLuS Alliance Fellow, UNSW
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/vital-signs-fallout-from-banking-crackdown-could-be-worse-than-interest-rate-rises-96006" target="_blank">original article</a>.
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The fallout from banking crackdown could be worse than interest rate rises: Richard Holden

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Mosman has reportedly secured a $10 million-plus sale of a four-bedroom harbour front apartment.
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-mosman-128264030" target="_blank">The 1/2e Mosman Street, Mosman Bay</a> sale price was not disclosed, but it reportedly topped the $8.4 million paid in 2015 for apartment 3, two levels above.
It was however confirmed as a new record for the lower north shore suburb secured by the Quill family.
They paid $6.7 million when the Allen Jack + Cottier-designed building, Watermarque was developed in 2008 by Rodney Hills and Hugo van Krestchmar. The developer duo demolished two brown brick apartment buildings holding eight apartments.
Fairfax Media reported a local downsizing couple purchased the apartment through Belle Property.
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Mosman's $10 million plus Watermarque apartment record

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.

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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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