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GUEST OBSERVER
Despite predictions of ‘doom and gloom’ by some property pundits, a buoyant Melbourne housing market is leading to healthy long-term investment options for savvy home buyers.
Solid auction results, strong population growth (the highest in Australia), good economic growth and APRA’s decision to lift home-loan restrictions on investor lending make the Melbourne housing market far less risky than its alternatives.
While this appears at odds with recent research by one real estate and investment group, which is predicting unit prices to fall less than 5% and house prices to ‘flatline’, RiskWise’s most recent <a href="https://www.riskwiseproperty.com.au/pdfs/ResidentialPropertyRisksOpportunitiesReport.pdf" target="_blank">Residential Opportunities &amp; Risks Report</a>, clearly shows that the housing market in Melbourne is in a far more healthy position than many experts believed.
Auction clearance rates – which are a strong short-term indicator to buyer sentiment – remain, overall, solid, in the beginning of 2018, particularly considering the end of the housing boom, negative media coverage and the beginning of autumn. 
The city enjoys strong population growth and exceptional overseas and interstate migration, meaning houses there are likely to continue having sustained demand, particularly in the middle suburban rings and affordable areas with good access to Melbourne CBD, such as the Western Suburbs.
This is coupled with strong gross state product growth rate of 3.3% and increasing private capital expenditure.
While the residential property market had cooled recently in Melbourne, overall houses in the Victorian capital city carried a low-medium level of risk and were projected, in the long-term, to deliver healthy capital growth.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/23/Gross%20State.jpg" target="_blank">to enlarge.</a>
<a href="https://www.propertyobserver.com.au/images/2018/3/23/Gross%20State.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/23/Gross%20State.jpg" alt=""></a>
The Melbourne property market is being looked at unfavourably by many so-called experts and this is having a dramatic impact on ‘mum and dad investors’ as well as policy makers. 
However, our research has shown that, in fact, Melbourne is a good option for investors, particularly the housing market in affordable areas, such as the western suburbs.
The report based its conclusions on the analysis of 30 variables grouped into seven categories to assess the short and long-term risk for houses and units in each state in Australia.
While it was true the Melbourne unit market carried a relatively high level of risk, housing in key areas, particularly the western suburbs, would enjoy healthy capital growth.
However, it seems the perception appears to be one of negativity due to people making generalisations about the market, over-reacting to slight fluctuations and taking a short-sighted approach instead of a long-term view. 
While many property experts are tipping price weakness in 2018, they fail to acknowledge there are many different markets, all with their own idiosyncrasies.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/23/Population%20growth.jpg" target="_blank">to enlarge.</a>
<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/2018/3/23/Population%20growth.jpg" alt="">
They also fail to distinguish between houses and units, rather using the term ‘dwelling’ for an all-encompassing view, ignoring that these property types are so different that RiskWise had to create separate heat maps for them.
It also doesn’t help that some commentators are suggesting there will be ‘5 to 10% price falls in 2018’. This just causes an over-reaction by investors who then become afraid to enter the market.
In addition, some forecasters were ignoring that about 78% of the houses in Melbourne were owner-occupied and had an estimated median net equity of $467,000. 
It is far more likely that with such equity they will get finance for an investment property, rather than being forced sellers. Therefore, the likelihood that houses in Melbourne will experience a significant correction is low. 
Many property investors were looking to “exotic investment opportunities”, such as North Queensland and Perth that carried a high level of risk and were projected to deliver a lower level of return. 
Others have a short-sighted approach focusing on quarterly, and in one case even weekly, data, applying principles that are common in the share market of short-term transactions. 
That approach ignores the fact that a typical house in Melbourne is held for 11.9 years.
Doron Peleg is CEO of RiskWise Property Research.
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j.ballantyne1990-6AQqhLzZaK

Melbourne housing market remains buoyant: Doron Peleg

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GUEST OBSERVER
Australia has a housing affordability problem. There’s no doubt about that. Unfortunately, one of the reasons the problem has become so entrenched is that the policy conversation appears increasingly confused. It’s time to debunk some policy clichés that keep re-emerging.
Is ‘zoning’ to blame?
It can be tempting to frame the housing affordability problem as all about inadequate new supply. According to this argument, the “demand side” drivers – such as low interest rates and tax incentives for property investment – have combined with population growth in the capital cities to fuel house prices, and new housing construction simply hasn’t kept up.
“Zoning” is often blamed. There is little hard evidence, though, to show systematic regulatory constraint.
Supply is at record highs, and in the right places
Australia’s new housing supply per capita is actually very strong by international standards. Over the past decade, supply of new units and apartments has been flowing in job-rich metropolitan areas with dense populations, which are also higher-value locations.
According to the cliché, this supply response should have cooled prices. Yet dwelling price inflation has surged even in metropolitan areas where new housing supply has exceeded population growth.
The fallacies of ‘filtering’
One of the great hopes underpinning the supply cliché is that new housing stock improves affordability even if these homes are not affordable for lower-income groups. This faith is based on a theory called “filtering” whereby older housing moves down to the affordable end of the market over time.
The empirical data on filtering are thin. Indeed, the academic literature has historically cast doubt on the theory. However, some commentators continue to claim that American rental housing markets provide evidence that “filtering” can occur in practice.
But whatever might happen in the US, in Australia there’s still no evidence to suggest new housing supply has filtered across the housing stock to expand affordable housing opportunities for low-income Australians, or that it will do so any time soon.
Prominent economists continue to produce data that suggest the potential impact of new supply on price is minimal. The shortage of affordable housing opportunities for low-income households in Australia remains persistent. And the evidence indicates that low-income working households in our cities consistently face housing costs well above accepted affordability levels regardless of the quality of the housing they live in.
Sustaining supply in a cooling market?
Some commentators cite cooling house prices as evidence that the supply response is taking effect. Whether or not that is so (above and beyond demand-side factors like higher interest rates for investor loans), expect the pipeline to start slowing down. Private sector development is driven by profit and risk and, as we have seen over many years, is characterised by speculative booms and busts.
Developers can turn off the new supply tap much more quickly than they can turn it on. Falling prices, weak consumer sentiment and economic uncertainty mean many developers will not follow through on building approvals until the market recovers.
This means that high levels of supply output are rarely sustained. Recent housing data in Western Australia provide a case in point. WA recorded rising completions in 2014, 2015 and 2016. But 2017 completion figures are expected to show a drop of around a third as prices have shaded off since the end of the mining boom.
Put simply, the market on its own will never solve Australia’s housing affordability problem. Expecting developers to keep building in order to reduce house prices is pure fantasy.
Planning reform is not an affordable housing strategy
We’ve written before about the political appeal of calling for planning reform instead of real solutions to housing affordability pressures. In fact, Australian states have embarked on more than a decade of planning reforms.
They have aimed to: standardise and simplify planning rules; promote mixed use and higher-density housing near train stations; and overcome local political opposition to development through the use of independent expert panels.
Housing targets for both urban infill and new greenfield areas have been a feature of metropolitan plans to drive dwelling approval rates since at least 2000.
These reforms have been effective in overcoming regulatory constraints. The scale of the recent supply response shows clearly that zoning and development assessment processes are not inhibiting residential development approvals in cities like Sydney and Melbourne.
But trying to accommodate Australia’s population growth in towers around railway stations will fail as an affordable housing strategy – even if “zoning” and height rules were completely scrapped.
Rather than narrow deregulation agendas, bigger picture reforms are needed. Aligning infrastructure funding with metropolitan and regional decentralisation is a critical long-term strategy. Reforms to deliver affordable housing in communities supported by new infrastructure are long overdue.
A bigger affordable housing sector is needed
Australia needs a more realistic assessment of the housing problem. We can clearly generate significant dwelling approvals and dwellings in the right economic circumstances. Yet there is little evidence this new supply improves affordability for lower-income households. Three years after the peak of the WA housing boom, these households are no better off in terms of affordability.
In part, this may reflect that fact that significant numbers of new homes appear not to house anyone at all. A recent CBA report estimated that 17% of dwellings built in the four years to 2016 remained unoccupied.
If we are serious about delivering greater affordability for lower-income Australians, then policy needs to deliver housing supply directly to such households. This will include more affordable supply in the private rental sector, ideally through investment driven by large institutions such as super funds. And for those who cannot afford to rent in this sector, investment in the community housing sector is needed.
<img src="https://counter.theconversation.com/content/92993/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">In capital city markets, new housing built for sale to either home buyers or landlords is simply not going to deliver affordable housing options unless a portion is reserved for those on low or moderate incomes.
Nicole Gurran, Professor of Urban and Regional Planning, University of Sydney 
Bill Randolph, Director, City Futures Research Centre, Faculty of the Built Environment, UNSW 
Peter Phibbs, Director, Henry Halloran Trust, University of Sydney 
Rachel Ong, Professor of Economics, School of Economics and Finance, Curtin University 
Steven Rowley, Director, Australian Housing and Urban Research Institute, Curtin Research Centre, Curtin University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/affordable-housing-policy-failure-still-being-fuelled-by-flawed-analysis-92993" target="_blank">original article</a>.
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Affordable housing policy failure still being fuelled by flawed analysis

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Set at Queanbeyan, only minutes to main arterial roads to Fyshwick and Canberra CBD, a one bedroom unit has been sold by mortgagee for $170,000.
It was sold by the agents Peter Stumbles and Jon Stumbles from Elders Real Estate. 
<a href="https://www.realestate.com.au/sold/property-unit-nsw-crestwood-127212454" target="_blank">The 10B/17 Uriarra Road</a> home comes with living area with split system air conditioning, large private balcony and secured underground allocated car space.
It was a $300 a week rental.
Other features include stylish plantation shutters throughout and kitchen with stone bench tops.
The suburb's median unit price sits on $300,000 according to CoreLogic.
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Queanbeyan one bedroom unit sold by mortgagee

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A five-bedroom home in Manly fetch $9.71 million, the weekend's top result, when national auction levels hit all time highs in the pre-Easter sales rush.
The home at <a id="x_mcntLPlnk935992" href="https://www.realestate.com.au/property-house-nsw-manly-127729154" target="_blank" rel="noopener noreferrer">67 Bower Street</a> (pictured above), one of nearly 1100 to go under the hammer in Sydney on the biggest auction day so far of the year, sold for close to $2 million above the reserve.
Clarke &amp; Humel agents Michael Clarke and Cherie Humel indicated two buyers were especially keen.
There were six bidders registered, with four active after bidding started at $7 million for the house built in the style of a resort-like Mediterranean luxury villa.
Across the harbour, the prominent Sydney restaurateur Kingsley Smith and hotelier wife Natasha Stanley secured $8.45 million when their Vaucluse home went to auction.
The couple paid $5.01 million for the home in 2014. 
<a id="x_mcntLPlnk396873" href="https://www.realestate.com.au/property-house-nsw-vaucluse-127724238" target="_blank" rel="noopener noreferrer">The Vaucluse property</a> was custom-built by architect Ian Poole for former owners, with six bedrooms, separate guest accomodation, a study and a heated infinity edge swimming pool amid manicured gardens. 
McGrath Group had a guide of $8 million.
There was also a strong result in Sydney's inner west, where a six-bedroom Strathfield home on 1,359 square metres fetched $5.9 million.
The <a id="x_mcntLPlnk99289" href="https://www.realestate.com.au/property-house-nsw-strathfield-127692802" target="_blank" rel="noopener noreferrer">64 Redmyre Road, Strathfield</a> sale was $600,000 above reserve through Strathfield Partners agents Robert Pignatoro and Vanessa Kim.
The property had failed to sell in a campaign with other agents last year.
There’d been eight groups register, with The Sunday Telegraph reporting a local Chinese family were the successful purchasers with a local Vietnamese family the underbidders.
CoreLogic calculated the total of 3,967 auctions held across the combined capital cities exceeded the previous highest week on record - the week ending 30 November 2014 when 3,908 auctions were held. 
Sydney's preliminary clearance rate stood at 66.2% based on the initial 1037 reported results.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/26/caps.jpg" target="_blank">to enlarge.</a>
<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/2018/3/26/caps.jpg" alt="">
The weekend's cheapest sale was a one bedroom at 16/57 Kingsville Street, Kingsville in Melbourne's inner west.
<a id="x_mcntLPlnk166431" href="https://www.realestate.com.au/property-apartment-vic-kingsville-127744142" target="_blank" rel="noopener noreferrer">The updated top floor, second level 1970s apartment</a> sold for $247,000. Its price guidance had been $210,000 to $230,000.
It last sold in 2002 at $110,000. It had been a $240 a week rental until recently.
There was <a id="x_mcntLPlnk973418" href="https://www.realestate.com.au/property-house-vic-toorak-127690274" target="_blank" rel="noopener noreferrer">a $5.8 million Toorak sale</a> which was among the top Melbourne results.
The 725 square metres lot at 27 Linlithgow Road came with the option to complete the somewhat progressed luxury two apartment Tudor style re-development or start again on a single home. The price guidance has been $4.2 million to $4.6 million.
The owners were going to live upstairs and sell downstairs, but a dispute unfolded between them and the builder, resulting in work stopping around a year into the construction.
Four of the six bidders were Chinese with local residency. The buyer was a high net worth Chinese buyer, who lives in Toorak. 
A converted Fitzroy church hall at <a id="x_mcntLPlnk564346" href="https://www.realestate.com.au/sold/property-house-vic-fitzroy-127733910" target="_blank" rel="noopener noreferrer">182 Fitzroy St </a>— which featured as the home in Guy Pearce's TV drama Jack Irish — sold for $2,446,000 bettering its reserve by $446,000.
There had been $1.9 million to $2 million price guidance for the gold-rush-era Independent Hall which has served as a church, Aboriginal mission, kindergarten and film set.
Since 1973, it’s been a home, Nelson Alexander agent Rick Daniel said.
"Across Melbourne, a total of 2,078 homes were taken to market across making it a record busiest week in CoreLogic history; surpassing the previous record over the week ending 29 October 2017 when 1,983 auctions were held," Kevin Brogan, the CoreLogic auction analyst said.
Melbourne's preliminary auction clearance rate fell with these higher volumes to 67%, down from the previous week's 68.7%.
Canberra had the nation's highest preliminary auction clearance rate at 73.8%, based on the results of 107 of the 129 scheduled auctions. 
Canberra's top sale was <a id="x_mcntLPlnk182442" href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/16-hampton-circuit-yarralumla-canberra/1317500654011" target="_blank" rel="noopener noreferrer">a luxury Yarralumla residence</a> designed by architect Paul Tilse.
Its land value was put at $937,000 with a single level solar passive contemporary home that has a 6 out of 6 star energy rating. 
It was constructed in 2016 by builders Sutton and Horsley in the grounds landscaped by Foxy's Landscapes.
Brisbane reported a 49.2% preliminary clearance rate with 194 scheduled auctions, down from the final figure of 51.9% over the prior weekend.
Brisbane's cheapest sale was $320,000 in Hamilton. The 1/104 Windermere Road offering was last sold at $38,000 in 1980.
The Ray White selling agent Guy Horsley said the vendor was moving to a retirement home.
<a id="x_mcntLPlnk71733" href="https://www.raywhite.com/qld/hamilton/1841929/?lang=en" target="_blank" rel="noopener noreferrer">Set in a block, Coniston of only four units</a>, it came with three bedrooms and one bathroom with lock up car accommodation, with 125 square metres living space.
Adelaide's 67.3% success rate, with 143 scheduled auctions, was the second best across the capital cities.
But it was below the previous week's preliminary 69.7% figure which ended with a final revised tally of 64.3%.
Adelaide prices ranged from $395,000 at Trott Park to $1.62 million at Norwood.
The three bedroom sandstone <a id="x_mcntLPlnk273668" href="https://www.realestate.com.au/property-house-sa-norwood-127798658" target="_blank" rel="noopener noreferrer">105 George St, Norwood</a> offering through Toop &amp; Toop had been in the same family for six decades.
The four bedroom split level <a id="x_mcntLPlnk409846" href="https://aldinga.ljhooker.com.au/house-in-trott-park-sa-5158-au-ptgfd4#.Wra7d60ZPq0" target="_blank" rel="noopener noreferrer">46 Hessing Crescent, Trott Park</a> offering had come with $350,000 price guidance.
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Manly scores weekend top result in pre-Easter auction rush

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A Royal Commission-induced credit slowdown could push the next interest rate rise back to 2020, according to Shane Oliver, head of investment strategy and economics and chief economist at AMP Capital.
"We are only two weeks into the Royal Commission, but it seems a real risk around the issues of lax lending standards is that banks move to a far more rigorous assessment of applications for loans," Shane Oliver noted.
"This is most unlikely to cause a full-on credit crunch, but the end result could be much tougher lending standards and a slowing in credit growth.
"Its early days yet but it’s worth keeping an eye on.
"It could serve to further delay any move to higher interest rates by the RBA, into say 2020," Oliver suggested.
Oliver anticipates more rigorous attention to lending in terms of each applicant’s income, expenses, assets and other debts.
<div>
Rowena Orr, QC, the senior counsel assisting the Hayne royal commission, has already revealed serious breaches committed by the banks and mortgage brokers.
There have been instances where banks had breached their statutory obligations under the National Consumer Credit Protection Act as well as under the Corporations Act to provide financial services "efficiently, honestly and fairly."
There appears to have been a failure to ensure that customers were not disadvantaged by conflicts of interest.
</div>
<div>Bankers had not adhered to National Credit Act in making loans without making reasonable inquiries about the customer's financial circumstances.</div>
<div> </div>
<div>Bank staff frequently receive incentive payments based on the volume of products sold, rather than on ensuring that the bank met responsible lending obligations. It already seems likely Commissioner Kenneth Hayne will recommend sweeping changes to the country's home loan industry. </div>
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Royal Commission-induced credit slowdown could push interest rates rise back to 2020: Shane Oliver

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Sydney house prices stand a good chance of posting growth in 2018, property research group SQM Research managing director Louis Christopher anticipates.
<div>
Christopher told the firm's annual conference in Sydney he was sticking to his forecast of a 4 percent to 8 per cent rise for Sydney and 7 percent to 12 per cent growth for Melbourne.
"APRA will loosen the market again because they are under instruction not to crash the market," Christopher said, according to The Australian Financial Review.
</div>
<div>"We think APRA will lift the credit growth limit limit, if that does occur, we think it will stimulate the investor market."</div>
<div>
<div id="article-inline-ad"> </div>
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<div>"What the banks are doing is they have been lowering interest rates for property investment...the gap between owner-occupier and investor loans has now narrowed."</div>
<div> </div>
<div>SQM suggest in a worse case scenario - should investors not return - Sydney's house prices would fall only by about 1 per cent, buoyed by steady population growth.</div>
<div>
"I think the reality would be that the first quarter will be line-balled whether prices in Sydney and Melbourne have fallen or not.
"If they fall, it won't be more than 1 per cent," Mr Christopher said.
</div>
<div>"It's very hard to be bearish when you see strong population growth and low unemployment, unless we see a major credit default occur."</div>
<div>
Melbourne has a greater chance of a more severe downturn than Sydney, if a large correction happens.
"In absolute dollars, Melbourne is cheaper than Sydney, but compared to incomes Melbourne is more expensive and more susceptible to a downturn," Mr Christopher said.
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Prices can still go up in Sydney and Melbourne in 2018: SQM's Louis Christopher

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Having been held in one family ownership for three generations, some 79 years, Skastholm at 121 Stephenson Street in Sale is now for sale through agents Pat Rice &amp; Hawkins.
Offers close April 19 unless sold before with a sale guide price of $500,000 plus expected to be achieved.
The vendors have traditionally run about fifteen breeding cows on the productive pastures.
Water resources are significant to include a windmill plus direct access to the Flooding Creek, (a feeder stream of the La Trobe River system nearby), which forms one long boundary of the holding with unrestricted pumping rights for stock and garden requirements.
The property was first purchased by members of the Edwards family in 1939 to operate as a dairy.
It is held under an old riparian title with ownership extending to the middle of the stream.
With a land area of 8.7 hectares, or 21.6 acres, the property is located 2.5 kilometres south east of the central business precinct of Sale.
It is the prominent regional centre at the commencement of the Gippsland Lakes that has a current population in excess of 14,000 people.
The property is opposite the Sale Common and the noted wetlands and wildlife sanctuary.
<img src="https://www.urban.com.au/images/2018/3/21/PRH%20SKASTHOLM%20SALE.jpeg" alt="">
The restored Victorian style weatherboard cottage offers three large bedrooms, with high ceilings and two with open fireplaces retained.
There are all modern services installed while the home has a return veranda.
Domestic needs are met by the country style timber kitchen with a slow combustion stove, a conventional oven and a dishwasher with two adjacent living areas.
It comes with an oversized two car garage cum look up steel shed or workshop, plus an original dairy, a worker’s hut, two hay sheds, a storage building and a set of steel cattle yards.
All the boundary fencing is electrified and with a six paddock internal subdivision.
The vendor says that as she is the last of the Edwards family line and with no succession.
Pat Rice &amp; Hawkins selling agent Matt Childs says that Skastholm - seemingly suggesting a Scandinavian origin - was first established in 1903.
The home has been fully restored from the ground up including the major works of re-stumping, re-wiring, re-plumbing and with a new roof added to provide an executive style family home.
“For a hobby farmer or specialist animal enterprise there is the option to run almost any type of livestock on the well set up subdivision and additional support building,” Childs notes.
 
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Edwards family farm listed after 80 years on Sale outskirts

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A three bedroom house in Balwyn North, 10 km east of Melbourne's Central Business District, has been sold at auction for $2.3 million (pictured below).
It was sold by Meredith Plant and Mark Salvati from Jellis Craig.
<a href="https://www.realestate.com.au/sold/property-house-vic-balwyn+north-127580034">Located at 8 Corhampton Rd</a>, the Victorian home features three bedrooms, formal sitting and dining rooms, a central kitchen with breakfast area and an oversized family room.
It is conveniently close to Kew High School, Kew Golf Course, Macleay Park and Hays Paddock.
 
 
 
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Balwyn North three bedroom house sold at auction for $2.3 million

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After almost 700 days on the market, the Duffys Forest acreage of outdoor advertising boss Ray Balcomb and his wife Julie has been sold.
They undertook a substantial upgrade of the equestrian facilities, and added the main residence, landscaped garden and pool.
The sale price remains undisclosed by Sotheby’s Harriet France and Sydney Country Living’s Shayne Hutton, but it was on offer for more than $10 million.
It tops the Terrey Hills high of $9.5 million set in 2012 by the mansion known as Symingtonia.
The Wyong Road property was bought by the Balcombs for a then suburb high of $4 million in 2003 from Morgan &amp; Banks co-founder Geoff Morgan.
The stable complex at this property is considered one of Sydney's finest private facilities. 
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Duffys Forest equestrian estate sold after longtime $10 million listing

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Positioned between the town and coast, a Qunaba four bedroom house in Queensland has been sold by mortgagees for $325,000.
It was sold by Jonathon Olsen from LJ Hooker in the Bundaberg region.
It had last sold for $390,000 in 2013.
The rental price was $350 a week in 2015.
Set at<a href="https://www.realestate.com.au/sold/property-house-qld-qunaba-126846094" target="_blank"> 21 Panorama Drive</a>, the property comes with four bedrooms, timber kitchen, three bay remote control garage and outdoor covered entertainment area.
Other features include split system air-conditioner, panels solar and solar hot water system.
According to CoreLogic, the suburb's median house price sits on $335,000.
 
 
 
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Loss making Qunaba, Queensland four bedroom home, sold by mortgagee

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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[smartcode_project_cta:default project_id=145590]

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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