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The Senate Economics Legislation Committee, Canberra have been given some charts which APRA chair Wayne Byres considered was helpful for any discussion on the house mortgage market.
 <img src="https://www.urban.com.au/images/2018/3/1/20180301-OpeningStatement-8.png" alt="">
The APRA benchmark of no more than 30 per cent of new lending by Australian banks being on interest-only terms was not overly restrictive for borrowers who genuinely need the form of finance, APRA noted recently.
While roughly 1-in-3 loans granted can still be on an interest-only basis, APRA boss Wayne Byres advised last month that data for the last quarter of 2017 shows that only about 1-in-5 loans were interest-only.
 
<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/2018/3/1/OpeningStatement-2.jpg" alt="">
Byres said it had required the major interest-only lenders to establish strategies that incentivise more borrowers to repay their principal.
"The industry has been quite successful in doing so:, and the number of interest-only loans with high LVRs continued to fall to quite low levels.
"All of that is positive for the quality of loan portfolios," he told the A50 Australian Economic Forum dinner.
"While the direction in asset quality is positive, we’re not declaring victory just yet.
"We still want to see that the improvements the industry has made are truly embedded into industry practice.
"And we can modify our interventions as more permanent measures come into play.
"That will include, amongst other things, further strengthening of borrower serviceability assessments by lenders, strengthened capital requirements for mortgage lending imposed by us, and comprehensive credit reporting being mandated by the Government.
"Through these initiatives, we are laying the platform to make sure prudent lending is maintained on an ongoing basis," he said.
<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/2018/3/1/OpeningStatement-3.jpg" alt="">
Byres told yesterday's hearing APRA did not have any particular target for house prices.
<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/2018/3/1/OpeningStatement-4.jpg" alt="">
A recent review of the financial sector by the Productivity Commission found the clamp-down on interest-only applications may have actually provided a windfall for the banks and a cost to taxpayers.
Byres said he wasn't about to challenge the commission's calculation but said its view was oversimplified and believed there were other drivers at work.
<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/2018/3/1/OpeningStatement-5.jpg" alt="">
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<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/2018/3/1/OpeningStatement-7.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/2018/3/1/OpeningStatement-8.jpg" alt="">
 
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j.ballantyne1990-6AQqhLzZaK

Eights charts on the housing mortgage market that matter: APRA chairman Wayne Byres

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GUEST OBSERVER
Hobart is a city with growing pains. As Australia’s second-oldest city, it might be likened to an octogenarian suddenly experiencing a teenage “growth spurt”. Growth is occurring both in visitor numbers and new residents.
The March 3 state election has drawn attention to several growth-related issues, including housing affordability, rental vacancies and traffic congestion. These issues are not new for many Australian cities, or indeed for cities globally. But in Hobart they are almost as surprising as the city’s midwinter 2017 nude swim.
A highly car-dependent city
While Hobart is perceived as a walkable city, it is among Australia’s most car-dependent. A 2010 survey of Hobart’s households showed that 89% of people’s travel was as a car driver or passenger.
For some Hobart residents, being able to drive anywhere is seen as a right. This attitude was neatly summed up in a Metro Tasmania survey where one respondent said: "Tasmanians would drive to the toilet if they could."
But the increase in Hobart’s traffic over the past few years is no joke. The city’s morning and afternoon peak hours increasingly dominate the local news. It’s now anyone’s guess how long the once eight-minute cross-town trip might take.
Residents are concerned not just about inconvenience or lost productivity. Hobart’s outlying low-density suburbs are poorly serviced by public transport. They are predominantly home to residents who are highly dependent upon their cars for work, trips for healthcare, social activities and recreation. For residents living in some of the most comparatively disadvantaged suburbs in the nation, this situation is highly inequitable.
Poor land use planning partly to blame
While Hobart’s growth can’t compare with Melbourne or Sydney, the city has a long history of concerns about traffic. This congestion is partly attributable to its urban form and partly to poor planning.
The central business district, where most jobs are located, occupies a narrow area of land wedged between steep terrain and the Derwent River. Only a few main roads carry daily commuter traffic. If one becomes blocked by, for example, a crash, this can cause traffic jams that extend to the outlying suburbs.
Second, the city sprawls outwards in corridors along the Derwent River and towards the international airport. Post-war suburban development is highly car-dependent; the city’s last passenger rail line was closed in 1978.
Transport has become a hot-button issue for ordinary residents and politicians alike in this state election campaign. But planning responses thus far have been piecemeal and superficial, such as moving a few car parks and synchronising traffic lights.
Some election promises are “throwbacks” to the road-building ideology of the 1950s. More lanes ultimately lead to more congestion. International experiences from cities like Los Angeles show that adding more lanes to roads only creates congestion.
Other proposals accord with modern city planning and represent quite a radical step up in transport planning for Hobart.
Key steps to fix the transport system
Solutions to fix Hobart’s transport problems are necessarily medium to long term. To succeed, these should follow several transport planning principles:
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<li>
Prioritise the movement of people. This means removing private car parking in favour of pedestrian malls and reusing some road lanes as dedicated bus lanes. Reducing the width of some road lanes can also accommodate more pedestrians and cyclists.
</li>
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Integrate transport and land use planning. This means creating new suburban and infill housing near existing public transit services. Planning schemes should allow medium density and mixed use development in appropriate places, to encourage walking and transit use. It should be possible to use public transport to make daily trips for education, shopping, entertainment, healthcare and the like.
</li>
<li>
Price road space appropriately. This might occur by adopting Victoria’s SmartRoads system. SmartRoads manages competing interests for limited road space by deciding which modes have priority on which roads. It recognises the increasing importance of public transport, walking and cycling. Congestion pricing in London, Stockholm and Singapore follows this principle.
</li>
<li>
Create a multi–mode public transport system. Light rail, buses and ferries should all play a role in moving people around Hobart. The ticketing system should be integrated and allow free transfers between modes.
</li>
<li>
Reduce the demand. Some employment functions could be moved out of the CBD to suburban sites. And road users might be able to stagger use, by starting work at different times, choosing different routes and car-pooling.
</li>
</ul>
To fix Hobart’s traffic congestion woes these proven principles need to be followed. Reasons for doing this include reducing carbon emissions, health imperatives and economic efficiency.
<img src="https://counter.theconversation.com/content/92258/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">With five major councils in the Greater Hobart area and a Southern Tasmanian Councils Authority that has no funding or staff, the state government needs to step in and co-ordinate a range of actions. There is no better time to start than with a freshly elected government on March 4.
Emma Pharo, Senior Lecturer, Geography and Environmental Studies, University of Tasmania
Jason Byrne, Professor of Human Geography and Planning, University of Tasmania
This article was originally published on <a href="http://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/growth-pains-and-gridlock-come-to-hobart-and-building-more-roads-is-not-the-best-way-out-92258">original article</a>.
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Growth pains and gridlock come to Hobart, and building more roads is not the best way out

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GUEST OBSERVER
Some initial coin offerings seem like scams (and some are), but behavioural research shows our emotions are part of why people buy in to cryptocurrencies for fruits and vegetables or crypto trading even if cool-headed rationality screams at us not to.
An initial coin offering is just like an initial public offering. But, instead of shares, what’s being sold are cryptocurrency “coins” or “tokens”. These are similar to virtual currencies found in computer games, enabling you to buy goods or services within an ecosystem.
Around half of the initial coin offerings launched last year have already disappeared or failed. This has potentially cost investors hundreds of millions of dollars.
The boom in initial coin offerings is a textbook example of how our emotions drive us to be overly optimistic and to become fixated on the spectacular gains made by others. Companies and designers can also appeal to our emotions and our conceptions of ourselves by appearing to adopt moral positions.
This mix of emotions lets “irrational exuberance” over getting rich quick (while doing the world a favour) overwhelm our reason and willpower.
Early investors in initial coin offerings made an absolute killing, which led to a lot of media coverage of newly minted “crypto-billionaires”.
This is a recipe for creating what’s called “optimism bias” because people become fixated on the spectacular gains made by others, playing into a lust for wealth.
Comparing our meagre incomes to these huge profits also means, deep down, we become terribly afraid of losing our chance at riches, stimulating feelings of stress and what’s known as “loss aversion”.
<img src="https://images.theconversation.com/files/208214/original/file-20180228-36671-19yn96t.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
A bananacoin is pegged to the export price of one kilogram of bananas.
But even more striking in the boom of initial coin offerings is how many appear to be about some moral initiative, such as supporting sustainable energy, artists, veganism or organic bananas.
In other words, many initial coin offerings tap into a set of emotional impulses associated with morality.
Research in social psychology shows that morals are built on powerful emotions, not reasoning. Signals from our environment go through emotional centres of the brain not only before the reasoning centres, but even before our sensory centres – we “feel” even before we “see”.
Reasoning serves merely to justify emotional reactions. People will justify what they already want to do, or have done, after the fact.
We also know from other research that while reason does give us willpower to resist emotional temptation, it has only a finite capacity to do so and can be overwhelmed.
The moral aspect of initial coin offerings also taps into our conceptions of our own identities. My research shows that if I can find a way that my cryptocurrency (say a cryptocurrency for veganism) would allow you to live out your moral identity (being a vegan) then it’s much easier for me to get the idea into your mind that you should buy it.
Once such ideas are implanted into the mind, they are difficult to restrain.
When we lust for riches, fear being left behind and identify strongly with some moral cause all at once, reason and willpower don’t really stand a chance.
But simply regulating initial coin offerings is difficult. One of the first things you learn in economics is the “law of unintended consequences” – that regulation seldom does only what it was intended to do.
Regulations aimed at protecting individuals from themselves could restrict new technologies and discourage a necessary process – discovering what’s a stupid idea and what is a spectacularly good idea. The line between them is very fine indeed and almost never obvious.
<img src="https://counter.theconversation.com/content/92508/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Among all the crackpots and charlatans we might just discover a technology to educate girls in Africa, fund a breakthrough in clean energy technology, or help to stamp out human rights abuses across the world.
Brendan Markey-Towler, The University of Queensland.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/why-we-put-money-into-bizarre-cryptocurrencies-like-ponzicoin-and-cryptokitties-92508" target="_blank">original article</a>.
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Why we put money into bizarre cryptocurrencies like ponzicoin and cryptokitties

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GUEST OBSERVER
Across most of Australia, the electricity industry is in the midst of a major rollout of so-called “smart meters” led by retailers – your household may very well have one already.
With the exception of Western Australia and the Northern Territory (and Victoria which has them already), all new and replacement meters will now be smart. This means that instead of simply recording electricity use for later checking, they can give retailers detailed consumption data, measured at 30-minute intervals or less – and also allow the supply to be turned on or off remotely.
Retailers can also offer to upgrade select customers’ existing meters to smart meters (again with the exception of Victoria, which has a blanket rollout), and consumers are free to accept or decline (except where a broken or ageing meter is being replaced).
This is an important testing ground for the soon-to-be legislated Consumer Data Right, which aims to give consumers better access to their own data, which in turn will help them save money.
But our research has found that under the current policy settings consumers are not getting the full range of benefits from the smart meter rollout, for a few main reasons.
Getting smart on bills
The main consumer benefit of a smart meter is to reduce electricity bills. But to do this, consumers need easy access to their daily electricity usage data, which can then be translated into useful information that enables them to compare tariffs. Consumers ought to be able choose such value-added services from third party providers by granting access to this data.
But consumers cannot currently access their daily electricity usage data when they need it free of charge. There is no common data format nor a simple way to authorise third-party access to the data, thus creating extra costs for third parties.
Retailers can charge a fee to access consumer data, effectively blocking rival companies that might be offering cheaper retail tariffs. But if consumers themselves could allow third parties to access their metering data, subject to security and privacy protections, it would give those consumers a much wider choice of tariffs and services.
Currently the federal government’s Energy Made Easy website (run by the Australian Energy Regulator) does not let consumers compare tariffs and services in a timely and user-friendly way. There are proposals to reform the website, and there is no shortage of good existing examples on which it might be modelled, such as the Victorian government’s Switch On and the North American Green Button initiative.
Getting involved
It is not enough that these tools simply exist; consumers must be actively encouraged to use them. This involves a wide-ranging, effective and ongoing consumer education campaign.
While there are highly active energy “prosumers” who generate and sell their own power and actively monitor and manage their energy use, most households do not fall into this category.
Most customers need information and encouragement to take up opportunities arising out of smart meter data. This will require much better communications by governments, retailers, networks, consumers and community organisations as an integral part of the smart meter rollout.
No one left behind
Electricity is an essential service, and policymakers need to ensure that the benefits of smart meters flow to everyone, not just the most switched-on customers.
Even with the help of the tools and campaigns described above, there are those who may still miss out on the benefits – such as, for example, vulnerable consumers who engage with smart meters but end up making poor choices through a lack of financial or digital literacy.
What’s more, remotely read meters make it easier to disconnect users, which again is likely to disproportionately affect the most vulnerable members of the community. Adequate consumer protections need to be built into the smart meter rollout. This involves ensuring that hardship provisions in the National Energy Customer Framework, concessions, and information provision keeps pace with developments in the metering market.
The retailer-led rollout is likely to be slow and could lead to a highly uneven patchwork of meters across Australia, and therefore uneven customer benefits. There are many reasons for this. Existing “dumb” meters have a long useful life and regularly last more than 30 years (some are more than 40 years old!); there is a lack of scale in the deployment by retailers who do not have contracts with all customers in a local area; certain customer groups may be deemed “uneconomic” by retailers and not offered new meters; and households in areas with poor mobile network coverage (most likely rural and regional areas) are unlikely to be offered a smart meter.
Such a large-scale rollout of new meters, which is piecemeal in some places and not in others, is bound to be difficult and there is no perfect model. The market for smart meters is in its infancy and needs careful monitoring and evaluation as it develops. But policymakers nevertheless need to get on the front foot and guarantee simple access to smart meter data and services for all consumers; actively encourage and demonstrate to consumers how these services can lower their electricity costs; and most of all ensure that no one is left behind in this emerging market.
Sangeetha Chandrashekeran, Lecturer in Geography and Deputy Director Melbourne Sustainable Society Institute, University of Melbourne
<img src="https://counter.theconversation.com/content/92029/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">This article was coauthored by Gavin Dufty, Policy and Research Manager, St Vincent de Paul, and Dr Martin Gill, an independent energy consultant and consumer advocate who has previously developed smart metering products.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/smart-electricity-meters-are-here-but-more-is-needed-to-make-them-useful-to-customers-92029" target="_blank">original article</a>.
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Smart electricity meters are here, but more is needed to make them useful to customers

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GUEST OBSERVER
People living in apartments are much more likely to experience secondhand smoke wafting into their homes and across shared areas. It’s an issue that can divide neighbours and leave strata managers overwhelmed.
Apartment residents need sensible smoking regulations that balance personal freedoms in the home and public health interests. Our newly published research paper, Sharing the Air, shows the law is letting them down.
Sharing the air
Residents are right to be concerned. For three decades we’ve known that secondhand smoke increases the risks of lung cancer and heart disease in adults; asthma and breathing problems in children; and SIDS in babies.
In higher-density housing, tobacco smoke is notoriously difficult to contain – and there is no known safe level of exposure.
Despite the harms of secondhand smoke, only New South Wales tackles the issue of smoking in its strata law. In all other Australian jurisdictions, residents and owners are left confused about their rights and responsibilities.
Neighbours at war
In many cases, people in strata-titled properties who are affected by smoke have to prove it is a legal nuisance or hazard before any action can be taken.
However, case law from courts and tribunals reveals an awkward tension between the legal concept of “nuisance” and the science on the harms of secondhand smoke.
In one Queensland case, a man wanted to stop smoke infiltrating his bedroom from his neighbour’s balcony as this made him unwell.
Although the tribunal accepted that smoke often entered his bedroom, he was found to have an “abnormal sensitivity”. Nuisance could only be established if the smoke was of such volume or frequency that it was an unreasonable interference. And this was to be determined objectively through the prism of an ordinary, healthy person.
But what is a reasonable standard of exposure to secondhand smoke when no safe level has been established?
Smoking restrictions
These neighbour disputes are more easily resolved if the apartment complex has a smoking bylaw that can be enforced.
Apartment residents share spaces and infrastructure, and so bylaws are used to balance the rights of all residents. Contentious issues such as pets, display of laundry, car parking, floor coverings and rubbish disposal are covered.
Although it is usually possible and lawful for the owners’ corporation to add a smoking bylaw, there are three main barriers:
<ul>
<li>
awareness is low
</li>
<li>
the procedure is complex and time-consuming
</li>
<li>
legal advice may be needed to draft a smoking bylaw that is valid and enforceable.
</li>
</ul>
Strata laws in all Australian jurisdictions empower owners’ corporations to make bylaws for the good management of the scheme, but these powers vary in scope.
Working out whether the owners’ corporation has power to make a particular smoking bylaw is not a straightforward task. In all jurisdictions, it has power to “control” common property, but there is only a power to “control” private lots in NSW, Victoria, Western Australia and the Northern Territory.
There are other statutory limitations on powers to make bylaws. Although these differ between jurisdictions, the main principles are that bylaws must not be inconsistent with strata law and other laws; unreasonable or oppressive; or discriminatory. These are all potentially relevant to smoking bylaws.
On the issue of consistency, there is a question whether a smoking bylaw might be inconsistent with state laws on smoke-free areas. These prohibit smoking in public places and workplaces, but may specifically exempt residential premises.
As for reasonableness and oppressiveness, a blanket ban on smoking is probably more vulnerable to challenge on this ground because it could prevent a resident from smoking even where neighbours will not realistically be affected.
Smokers are not a protected class under anti-discrimination legislation. While they are not prevented from living in an apartment complex with a smoking bylaw, they must comply with the bylaws.
A better way?
A model or default bylaw on smoking can be included in strata legislation or regulations to provide clear guidance. Existing owners’ corporations can choose to adopt the smoking bylaw by special resolution, confident that it is valid and enforceable. Many new developments would adopt the smoking bylaw from the start.
Through more direct and immediate enforcement, disputes about smoking can be resolved more quickly.
In NSW, for example, a model smoking bylaw presents two options:
<ul>
<li>
The first prohibits smoking on common property and requires smokers (and their guests) to ensure that smoke does not penetrate to common property or other lots.
</li>
<li>
The second is the same, except it permits smoking on common property if authorised or within a designated area.
</li>
</ul>
The NSW example only prohibits smoking in a private lot if smoke is infiltrating other lots, and therefore affecting neighbours. In this way, it appears to strike an acceptable balance between the need to minimise apartment residents’ exposure to secondhand smoke while respecting personal freedoms in private property.
<img src="https://counter.theconversation.com/content/84261/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Strata law reform is under way across Australia. In the interests of all apartment residents, smoking can no longer be ignored.
Caitlin Kameron, Adjunct Research Associate, School of Psychology and Speech Pathology, 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/apartment-residents-need-better-protection-from-secondhand-smoke-84261" target="_blank">original article</a>.
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Apartment residents need better protection from secondhand smoke: Caitlin Kameron

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GUEST OBSERVATION
Nothing uses more resources or produces more waste than the buildings we live and work in. Our built environment is responsible for half of all global energy use and half of all greenhouse gas emissions. Buildings consume one-sixth of all freshwater, one-quarter of world wood harvests and four-tenths of all other raw materials. The construction and later demolition of buildings produces 40% of all waste.
The sustainability of our buildings is coming under scrutiny, and “green” rating tools are the key method for measuring this. Deakin University’s School of Architecture and Built Environment recently reviewed these certification schemes. Focus group discussions were held in Sydney and Melbourne with representatives in the field of sustainability – including government, green consultancies and rating tool providers.
Two main concerns emerged from our review:
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Sustainability ratings tools are not audited. Most ratings tools are predictive, while those few that take measurements use paid third parties. Government plays no active part.
</li>
<li>
The sustainability parameters measured only loosely intersect with the building occupants’ sustainability concerns. Considerations such as access to transport and amenities are not included.
</li>
</ol>
<img src="https://images.theconversation.com/files/207055/original/file-20180220-116343-j14zhh.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Focus group sessions run by Deakin University helped identify problems with current sustainability ratings. Author provided
That’s the backdrop to the sustainability targets now being adopted across Australia. Australia has the highest rate of population growth of any developed country. The population now is 24.8 million. It is expected to reach between 30.9 and 42.5 million people by 2056.
More buildings will be needed for these people to live and work in. And we will have to find ways to ensure these buildings are more sustainable if the targets now being adopted are to be achieved.
Over 80% of local governments have zero-emissions targets. Sydney and Canberra have committed to zero-carbon emissions by 2050. Melbourne has pledged to be carbon-neutral by 2020.
So how do green ratings work?
Each green rating tool works by identifying a range of sustainability parameters – such as water and energy use, waste production, etc. The list of things to be measured runs into the dozens. Tools differ on the parameters measured, method of measurement, weightings given and the thresholds that determine a given sustainability rating.
There are over 600 such rating tools worldwide. Each competes in the marketplace by looking to reconcile the credibility of its ratings with the disinclination of developers to submit to an assessment that will rate them poorly. Rating tools found in Australia include Green Star, NABERS, NatHERS, Circles of Sustainability, EnviroDevelopment, Living Community Challenge and One Planet Communities.
So, it is easy enough to find landmark developments labelled with green accreditations. It is harder to quantify what these actually mean.
Ratings must be independently audited
Government practice, historically, has been to assure building quality through permits. Planning permits ensure a development conforms with city schemes. Building permits assess structural load-bearing capacity, health and fire safety.
All this is done off the plan. Site inspections take place to verify that the building is built to plan. But once a certificate of occupancy is issued, the government steps aside.
The sustainability agenda promoted by government has been grafted onto this regime. Energy efficiency was introduced into the residential building code in 2005, and then into the commercial building code in 2006. At first, this was limited to new buildings, but then broadened to include refurbishment of existing structures.
Again, sustainability credentials are assessed off the plan and certification issued once the building is up and running. Thereafter, government walks away.
We know of only one longitudinal energy performance study carried out on domestic residences in Australia. It is an as-yet-unpublished project conducted by a retiree from the CSIRO, working with Indigenous communities in Far North Queensland.
The findings corroborate a recent study by Gertrud Hatvani-Kovacs and colleagues from the University of South Australia. This study found that so-called “energy-inefficient” houses, following traditional design, managed under certain conditions to outperform 6- and 8-star buildings.
Sustainability tools must measure what matters
Energy usage is but the tip of the iceberg. Genuine sustainability is about delivering our children into a future in which they have all that we have today.
Home owners, on average, turn their property around every eight years. They are less concerned with energy efficiency than with real estate prices. And these prices depend on the appeal of the property, which involves access to transport, schools, parks and amenities, and freedom from crime.
Commercial property owners, too, are concerned about infrastructure, and they care about creating work environments that retain valued employees.
These are all core sustainability issues, yet do not come up in the rating systems we use.
<img src="https://counter.theconversation.com/content/91655/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">If government is serious about creating sustainable cities, it needs to let go of its limited, narrow criteria and embrace these larger concerns of “liveability”. It must embody these broader criteria in the rating systems it uses to endorse developments. And it needs an auditing and enforcement regime in place to make it happen.
Igor Martek, Lecturer In Construction, Deakin University
M. Reza Hosseini, Lecturer in Construction, Deakin University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/greenwashing-the-property-market-why-green-star-ratings-dont-guarantee-more-sustainable-buildings-91655" target="_blank">original article</a>.
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Why 'green star' ratings don't guarantee more sustainable buildings

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Situated in wide, tree lined Melbourne Avenue, close to Parliament House, an elegant heritage listed Forrest home has been listed for sale.
It has been sympathetically extended by architect Paul Bradley while retaining its rich historic character.
Designed by the Melbourne architectural firm Oakley and Parkes, it was constructed in 1927.
The original part of the home at 25 Melbourne Avenue has been thoughtfully maintained with an added architect designed extension.
It has a total floor area of 340 square metres.
Brickwork of the extension blends seamlessly with the original Canberra red brick and terracotta roof tiles provide uniform coverage.
Tasmanian Oak flooring extends throughout the original home. From the entry, double, glass panel doors open into the spacious living room, high, batten ceilings, picture rails and the slow combustion fireplace add to the ambience of this tranquil room.
Cedar sash windows are furnished with Roman blinds and frame the outlook over the front garden. 
<a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/25-melbourne-avenue-forrest-canberra/1317487905511" target="_blank">It is for sale at $2.95 million</a> through Luton Properties Dickson. 
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1927 Oakley and Parkes-designed Forrest home listed at $2.95 million  

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Set at Wellard, Western Australia, a four bedroom house has been listed for sale by mortgagees. 
The auction has been scheduled for March 3. It was briefly listed in 2015 at $419,000.
<a href="https://www.realestate.com.au/property-house-wa-wellard-127493694" target="_blank">The 19 Sebago Street </a>home comes with four bedrooms, spacious living areas, galley kitchen with stone tops, and two garage spaces.
Additional features including lock up auto garage with shoppers entry and built-in wardrobes.
According to CoreLogic, the suburb's median house price sits on $410,000.
The building block was sold in 2014 ay $208,000. Its build value was advised as $195,000.
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Wellard, WA house listed for auction by mortgagee

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This weekend, all of the busiest suburbs for auctions are in Victoria; topping the list with 23 scheduled auctions is Reservoir.
Following closely with 21 scheduled auctions is Preston, while Craigieburn and Brunswick will be host to 20 and 19 auctions respectively.
There are fewer auctions scheduled across the combined capital cities this week, CoreLogic calculated, after last week saw volumes reach their highest level so far this year (3,313).
CoreLogic is currently tracking 2,762 capital city auctions this week, which is expected to be lower than results from one year ago when 2,907 auctions were held.
Both Melbourne and Sydney, Australia’s two largest markets are set to see fewer auctions take place this week, with 1,411 Melbourne homes currently scheduled to go under the hammer, down from 1,606 last week and 978 auctions scheduled across Sydney, decreasing from the 1,259 auctions held last week. 
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All of the remaining capital cities are expected to host fewer auctions this week, with the exception of Adelaide where the amount of auctions scheduled for this week are virtually unchanged from final results last week. 
Last week, the combined capital cities saw auction volumes reached their highest so far this year with 3,313 held; the higher volumes returned a final auction clearance rate of 66.8%, which was higher than the 66.1% the previous week when volumes were significantly lower (1,992).
Melbourne’s final auction clearance rate last week maintained strength across a significantly higher volume of auctions week-on-week, with a total of 1,606 auctions held across the city returning a 70.6% rate of clearance, increasing from the week prior when 69.8% of the 932 auctions held were successful.
In Sydney, a final auction clearance rate of 65.1% was recorded across 1,259 auctions, down from the previous weeks 67.8% when 737 auctions were held. 
Across the smaller auction markets, both volumes and clearance rates increased over the week in Adelaide, Brisbane, Canberra and Tasmania, while week-on-week results for Perth remained steady.
Of the non-capital city auction markets, Geelong returned the highest final clearance rate of 86.0% across 52 auctions, while the Gold Coast held the most auctions (64), however only 32.6% cleared. 
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Reservoir back as busiest weekend auction suburb: CoreLogic

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EXPERT OBSERVATION
The record completion of 38,759 new homes across metropolitan Sydney is good news for housing supply.
We need an average across Sydney of 36,250 new homes each year for 20 years and the announcement by Planning Minister Anthony Roberts that 38,759 new homes were built in 2016 is good news that demonstrates we have exceeded the annual target.
Clearly the development industry has excelled in its performance over 2016.
The fact that this is a record achievement is a result of the hard work undertaken by the property development and construction industry with support from the planning system.
There are however concerns for the potential to continue this level of home completions over 2018 as approval numbers are dropping. In 2016 there were 56,659 approvals which included 38,991 apartments but in 2017 there were only 52,480 home approvals with apartments dropping to 34,710 according to the NSW Department of Planning and Environment’s Housing Monitor.
The main District where the drop in approvals is occurring is the Central District which dropped from 15,720 approvals in 2016 to 13,111 in 2017. The Northern District also dropped from 9,819 approvals in 2016 to 6,591 in 2017.”
The Urban Taskforce is concerned that the apartment market in Sydney is slowing down influenced by the banks tightening lending, a slow-down in foreign investment, concerns about substantial taxes on development to fund affordable housing and the removal of current caps on local development levies.
The message we are getting is that even with planning approvals a number of developers are holding back on developments due to the uncertainty of extra costs.
It certainly looks as though the housing development industry has had a bumper year in 2017 but the industry is likely to see a slow-down in actual production of finished new homes over 2018.
The Urban Taskforce is keen to work with the NSW Government to try and keep the flow of record home completions continuing into future years.
To do this we must keep Sydney completions above the average needed of 36,250 a year for a number of years ahead.
Chris Johnson is the Urban Taskforce CEO.
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Record Sydney housing completions but approvals slipping: Urban Taskforce's Chris Johnson

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."

&nbsp;

[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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