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The effects of COVID-19 on Mildura housing market are mostly limited at this stage to reduced sales volumes, as vendors and purchasers take time to weigh up the implications, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
"As we move through another month of COVID-19, there is a feeling that, in our region at least, we have mostly escaped the virus itself. There were a handful of cases identified in April, but none in the past month and our community can see a path back towards a more normal life.
"However our economy has been detrimentally affected, with a rise in unemployment resulting from the shut down of many businesses, especially those that rely on tourism or hospitality," the valuation firm said. 
The HTW report notes the effects have been most evident at the middle and upper end of the market. Agents have welcomed a return to being able to hold open inspections, which they hope will provide greater activity and confidence, however it is still too early to know what the lasting effects will be.
Local builders still report being busy completing work that started pre-COVID-19, and a drive around our new subdivisions shows that new construction is underway, however it is expected that the number of new builds will be reduced to some degree over the next 12 months as some people re- think their ability to take on debt at this time.
"There is no doubt that many people have had more free time, either through reduced employment or less recreation options on weekends. For many, this time has been devoted to some DIY maintenance in and around their homes. The Bunnings carpark test suggests that home improvement sales have been strong," the valuation firm said. 
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Renovating older homes for a profit has not been a common activity in Mildura, in part due to a lack of older homes with enough character to be popular with owner-occupiers.
"We simply don’t have the stock of pre 1950s homes. There are some scattered examples though and these are usually found in preferred positions on Mildura’s west side or close to the CBD and Murray River," the valuation firm said. 
There is considered to be good potential to renovate homes built in the 1950s and 1960s. These homes are usually conite clad, which was a building technique popular in Mildura, but rarely found elsewhere, the report noted. 
Many examples have reasonably large rooms and the ability to extend in a complementary way.
A well renovated home from this era will fetch similar values to new homes built in a new subdivision, but comes with the benefit of larger land size and superior position.
A current listing is a 1950s weatherboard home in Mildura priced at $260,000 to $285,000.
The three bedroom, one bathroom house is situated at <a href="https://www.realestate.com.au/property-house-vic-mildura-133788118" target="_blank">817-819 Fourteenth Street</a> (pictured below).
It features original kitchen, formal lounge, and open fire place. 
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For those after a less expensive challenge, there is also the potential to modernise homes built in the 1980s. This is considered a good option for owner-occupiers.
With many local tradespeople and suppliers of floor coverings, kitchen cabinetry etc. less busy at present, now may be a good time to do this upgrading, the report noted. 
A renovated weatherboard family home in Irymple has recently been sold for $535,000.
The country homestead at 3538 Benetook Avenue (pictured below) comes with four bedrooms, study, central kitchen, two bathrooms and decked entertaining area. 
It is situated close to Irymple and Mildura's shopping precincts. 
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Mildura home improvement sales remain strong: HTW residential 

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The initial stages of the COVID-19 crisis caused many sellers to shut up shop and batten down the hatches, according to the latest Herron Todd White (HTW) residential report. 
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The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
"First up – let’s address the current state of play under COVID," the valuation firm said. 
The report notes some buyers believed they were about to snatch up outrageously good deals.
The market then settled quickly into a standoff where potential purchasers came up against a lack of stock. As such, transaction numbers dropped dramatically, but prices didn’t.
Now, three and half months in, the state of play is established. There is a still a wait-and-see approach being taken by owners, so buyers don’t have a heap to choose from. Prices are softer across many markets but they didn’t plummet like some may have predicted.
"Of course, this is an evolving situation. As we move through the machinations of the economy over the next six months - with politics, employment, finance, immigration and trade all playing their parts - thing could be turned on their head. It’s a case of wait, watch and see.
"Of course, the crisis has delivered us something that was in short supply for the average Aussie family – time," the valuation firm said. 
Requests from leadership that we stay in and keep each other safe had many running to Netflix and home offices, but there was also a fair proportion of the population who used the opportunity to tackle odd jobs around the house.
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"Skip bins and Bunnings lines revealed that when presented with the chance to do nothing, many of us actually want to do something productive.
"That said, most of what we’ve seen around the suburbs was maintenance," the valuation firm said. 
In Brisbane at least, demand for more extensive building and renovation work looks to have slowed, the report noted. 
Many households stepped through the uncertainty of March and April making plans to ensure that, over the foreseeable future, food would be on the table and a roof would stay overhead. Being frivolous with available cash could be hazardous with unemployment on the rise.
"As such, we generally observed a slowdown in substantive renovation and construction projects – particularly any ventures that involved signing a contract with a builder or tradesperson.
"But, as has been said many times before, you need to dig below these broad market generalisations and understand the nuances, because opportunity can be found at certain price points, property types and locations," the valuation firm said. 
For example, prestige property is seeing relatively more renovation upgrades than homes in the affordable price sector.
The report notes renos of inner-city holdings at the upper-price level have been mostly unaffected by the current environment. Owners are comparatively cashed up and willing to keep spending.
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"There’s plenty of reasons why. For starters, the lowest interest rates in living memory are enabling those with good financial standing to get access to cheap money," the valuation firm said. 
In addition, the building industry has become relatively competitive under the COVID regime. Tradespeople are hungry for work and head contractors are willing to compete on price so as to secure a pipeline of projects.
"The flipside in Brisbane is the investor market. We aren’t seeing landlords looking to spend sums upgrading homes beyond what’s necessary at this stage," the valuation firm said. 
There’s an expectation the rental market will continue to fall in favour of tenants with rising vacancies and falling rents, so investors are wanting to ensure they don’t spend too big too early.
"One thing that may well stimulate the desire for upgrades among homeowners is the work-from- home phenomena.
"It’s become evident many of us can operate productively from a home office. It’s also entirely possible on the other side of this event, employers will look for ways to reduce their office footprint, hoping to cut lease costs and improve the bottom line," the valuation firm said. 
The outcome may well be property owners seeking ways to adapt their current living space in order to improve their work environment.
Creating a work area that can be shut off from the family space will become an essential element of any home. Even if existing owners don’t look to create that for their own use, a good home office will be a feature in future real estate listings.
If there’s an efficient, cost-effective way to establish an office, then vendors will want to do this prior to selling.
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"And so on to locations if you do have a hankering for a renovation project. We’ve looked at a couple of options that might fit the bill," the valuation firm said. 
For example this one at 17 Hockings Street, Clayfield (pictured below) sold mid-2019 for $660,000 as a renovation project that required a heap of TLC.
"No doubt the original features will come up a treat," the valuation firm said. 
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The inner-west suburbs of Paddington, Auchenflower, Bardon and Toowong have been rife with renovation opportunities for decades.
 In fact, there have been a few Brisbane builders who’ve grown their fortunes by concentrating solely on these locations and completing beautiful, multi- million dollar do-ups.
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For example, this house at 12 Carey Street, Bardon (pictured below) was sold way back in October 2017 for $770,000.
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It received an extensive upgrade to become an ultra-modern four-bed, three-bath, two car home (pictured below) that was purchased in March 2020 for $1.552 million.
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Family friendly addresses such as The Gap: provide opportunity for those with a tighter budget. Renovatable home are available at the high-$500,000s price point.
"For those with a little more to spend, an address such as Ashgrove will set you back closer to $700,000-plus for a home with potential," the valuation firm said. 
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A perennial favourite for fixer-uppers is Petrie Terrace and Spring Hill. There are some raw homes on tiny lots for over $600,000, but it’s all about location here. 
The report notes these suburbs are literally walking distance to the centre of town as well as entertainment and retail precincts. And the results can be spectacular.
For example, a renovated home at 35 Sheriff Street, Petrie Terrace (pictured below) sold in November 2019 for $1,193,888. It’s on 228 square metres of land and provides four-bed, three-bath, three-car accommodation.
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"Looking a bit further out and Wavell Heights has good options with very basic renovators in average positions fetching between $550,000 and $600,000 – but you need to be fast as they sell quickly," the valuation firm said. 
 Other homes in Wavell Heights that’re in quieter positions with ready access to facilities are fetching between $600,000 and $700,000 for a renovation prospect. 
In these instances, smart renovation work will yield an end value above $1 million.
For more budget conscious renovation prospects, head a bit further up Gympie Road and check out Aspley and Bracken Ridge where a renovatable home can be purchased in the $500,000s. This area appeals to first home buyers and project- oriented builders.
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"A quick tip – make sure you check the town planning guidelines and building codes before proceeding. 
"The renovation options for Brisbane property can be limited by heritage and traditional-character overlays, building heights, setbacks, noise and flooding issues and other designations... and they can be property specific. Just because a neighbour is able to get certain works approved doesn’t necessarily mean you can," the valuation firm said. 
"Finally, while the level of future renovation activity remains generally uncertain, falling sale numbers under current market conditions in the wake of COVID may well fuel a rise in renos, however this will be dependent on indicators such as general confidence in the market, affordability, unemployment and economic conditions." 
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Brisbane prestige property renovation least affected by COVID-19: HTW residential 

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Sunshine Coast's stock levels continued to remain extremely low with no significant increase in property listings in April and May, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
The HTW report first provided an update on COVID. 
"When we try to break down the COVID-19 world and market place, the overarching theme is that we appear to be in a in a state of flux," the valuation firm said. 
Pressure on owners to sell remains limited but this may be delayed until the various support and stimulus packages come to an end (government’s Job Keeper allowance and bank mortgage holidays).
"When reviewing valuations of sales completed by our office and specifically properties contracted during April and into May, in excess of 95 per cent of the sales show a discount of five per cent or less from the list price," the valuation firm said. 
Also, 98 per cent of the sales occurred within 90 days. As previously stated, it remains extremely important to understand the circumstances of any sales that transact in this period.
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"As COVID-19 infection rate results improve and the restrictions start to ease, there is a feeling that there is some light at the end of the tunnel," the valuation firm said. 
The report notes subsequently there have been reports that overall enquiry has increased and open homes are resuming.
◗ Some of the demand has been in the pipeline for some time from a combination of potential purchasers who were in the market prior to the restrictions and upgraders and investors who sold in the first quarter of 2020.
◗ Interest continues to flow with both capital city and ex-pat international purchasers looking to secure property on the Sunshine Coast.Some of this is being fast tracked.
◗ Should this demand be absorbed and if there is an increase in supply in the coming months, it will be interesting to see if there is an increase in new demand to fill the void.
◗ Some new purchasers are wanting to find a bargain, although this is not apparent in the market to date, especially in highly sought after areas.
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Now, on to renovation
"They say 'idle hands are the devil’s tools', but when the pubs and clubs are shut, there are not too many other options.
"It appears they pick up a shovel, hammer or a paint brush. During the COVID-19 restrictions, it seems that one valuable commodity has been created....TIME. At the moment, there is plenty going on in the home improvement and maintenance space," the valuation firm said. 
"As we have previously mentioned, stock levels are extremely low. With the combination of these stock levels and the uncertainty of the market, the thought of selling and upgrading the house has slowly been losing some of its appetite, especially if you really like the area you live in," the valuation firm said. 
The feedback from local tradies, hardware shops and garden centres is that business has been pretty good as people look to upgrade their existing property.
"We have also received feedback that a local swimming pool building franchise has 21 new projects halfway through the month of May compared to seven for all of April. This appears to be occurring right throughout all the established areas of the coast, with older homes being transformed to little gems," the valuation firm said. 
Sure, some of this home improvement activity has been completed to add value to the home so that when they do go to sell, it is presented in the best possible condition, the report noted. 
If the property has a reasonable floor plan, the recent results of these renovated properties have shown good returns. 
"We note that some feedback from agents is that a number of builders have been looking for some little side projects just in case there is a bit of a slowdown in the future." 
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A fully renovated two bedroom apartment in Coolum Beach has recently been sold for $645,000.
The <a href="https://www.realestate.com.au/sold/property-unit-qld-coolum+beach-133275090" target="_blank">9/1682 David Low Way </a>home (pictured below) comprises two bedrooms, two bathrooms, PAC kitchen and two balconies. 
It is located within walking distance to cafes, shops and restaurants. 
<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/2020/6/22/coolum%20beach%201.jpg" alt="">
A current listing is a renovated townhouse in Caloundra priced at $559,000.
The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-townhouse-qld-caloundra-133625798" target="_blank">1/29 North Street </a>(pictured below).
It features open plan kitchen, dining and living, outdoor patios and double lock up garage. 
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Sunshine Coast's stock levels remain extremely low: HTW residential 

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EXPERT OBSERVATION 
International students made up more than 30 per cent of the population in some Australian suburbs before borders closed to prevent the spread of COVID-19.
The Mitchell Institute mapped where international students lived using data from the ABS census and Department of Home Affairs.
The results show striking growth in capital cities, and in some regional areas.
The mapping highlights how international students have become intertwined in Australia’s social fabric. Not only do they contribute A$38 billion to the economy annually and support 130,000 jobs (at any one time), they are also important members of local communities.
The Mitchell Institute research helps illustrate how, beyond universities’ suffering at the loss of international students, local businesses and communities are also being negatively affected.
City areas and suburbs close to university campuses have the most international students.
The centre of Melbourne had the largest number of international students in the country – at almost 20,000, or 38 per cent of the resident population. The neighbouring suburb of Carlton has the next largest with 9,600 or 39 per cent of the population.
The Canberra suburb of Acton, where ANU is located, had one of the highest proportions of international students in the country – at about 44 per cent.
<img src="https://cdn.theconversation.com/static_files/files/1075/Canberra.gif?1592181779" width="100%">International students in Canberra.
Many international students have chosen to live in suburbs further away from university campuses, too.
We estimate more than 10 per cent of the population in the Sydney suburbs of Hurstville and Strathfield were international students.
<img src="https://cdn.theconversation.com/static_files/files/1074/Sydney.gif?1592181643" width="100%">International students in Sydney.
International students made up more than 5 per cent of the population in areas such as Dandenong and Laverton in Melbourne, Joondalup in Perth, and Regency Park in Adelaide.
Affordable property and good transport links may make these suburbs attractive options.
<img src="https://cdn.theconversation.com/static_files/files/1073/Adelaide.gif?1592181536" width="100%">International students in Adelaide.
Regional areas have also benefited from international students, especially those with university campuses. For instance, in Darling Heights and Gatton in regional Queensland, more than 5 per cent of the population were international students.
<h2>Wherever international students live they will be important parts of communities and economies.</h2>
We also examined Universities Australia’s student finance data to identify the type of businesses that benefit most from international education.
We found over 36 per cent of international student spending goes towards retail and entertainment. This is money that will be spent in Australian cafes, markets and other venues.
Another 36 per cent of spending went to property. As 65 per cent of international students rent, much of this income will support Australian property investors.
The benefits international students bring extend beyond the economy. They also volunteer, contribute to Australia’s cultural diversity and enhance our international standing.
This research helps illustrate the many different roles of international students. They are colleagues, friends, neighbours, tenants, customers, classmates and future world-leaders.
Many will also become future Australian citizens. Of 1.6 million international students who started their course between 2001 and 2014, 16 per cent were granted permanent residency and a pathway to citizenship.
<h2>Department of Home Affairs figures show over 120,000 current student visa holders are outside Australia.</h2>
We estimate this translates into about 13,000 fewer people living in inner Melbourne due to travel restrictions. In places like Sydney’s city and inner south, this translates into 7,000 fewer people. In Adelaide’s Central and Hills region we estimate this means 5,000 fewer people.
These losses will grow as travels bans stop new international students replacing those who have finished their studies.
Every six months international students cannot enrol due to travel bans, between 110,000 to 140,000 won’t start their courses.
Problems with the international education sector will also affect Australian students. Domestic students share in the perspectives students from around the world bring into classrooms and the extra resources education institutions can afford because of them.
Early reports suggest more school leavers will choose to study at university because of an impending recession.
But while universities have capacity, there are currently funding caps which effectively limit the number of domestic students who can enrol.
Uncapping domestic university places will help ensure our universities can properly meet the needs of school leavers.
Continuing to support international students will also be vital. International students are particularly vulnerable to the economic impact of the pandemic. As non-citizens they are ineligible to access Australian government supports such as JobKeeper.
Many have had to rely on support packages offered by universities and state governments.
It is important that Australia continues to support international students who are struggling. This will signal to current and future international students that Australia values them and the enormous contribution they make to our country.
Peter Hurley is a Policy Fellow at the Mitchell Institute Victoria University
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International students were over 30% of some suburbs population pre-Covid: Peter Hurley 

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GUEST OBSERVATION
As Australia begins to plot a recovery strategy from the first recession in the country in decades, the Morrison government needs to examine what has worked well in the past.
Crises require strong leadership, national cohesion and a framework for carrying out recovery efforts on a grand scale.
As such, there is a case to be made for a new Commonwealth agency to lead the recovery effort, built on the model of the Department of Post-War Reconstruction that helped Australia emerge from the turmoil of the second world war.
<h2>In December 1942, Prime Minister John Curtin established the Department of Post-War Reconstruction. Even though the war was still raging, its task was to begin planning and coordinating Australia’s transition to a peacetime economy.</h2>
The department brought together a talented group of officials, many of them from the new discipline of economics, to advise the government. Its establishment reflected the efforts to which the Commonwealth government went after the war to professionalise the Australian public service.
The department did not have a large staff. It was devised as a policy department that would coordinate the work of other agencies. The treasurer, Ben Chifley, was appointed the first minister for post-war reconstruction. H. C. “Nugget” Coombs, one of Australia’s “seven dwarfs”, named for their diminutive stature, was his first departmental secretary.
One of the major successes of the department was its contribution to the full-employment policy, a goal set by post-war governments to achieve a higher standard of living and regular employment for all Australians after the war.
To that end, the department helped establish a new employment agency, the Commonwealth Employment Service, to match workers with jobs. It also helped overhaul the social welfare system and create the pharmaceutical benefits scheme.
Full employment became a bipartisan policy goal throughout the economic “golden age” from the end of the war to the 1970s. The policy was so popular that even the smallest deviation from it, such as during the “credit squeeze” of 1960-61, almost cost the Menzies government re-election.
The Department of Post-War Reconstruction didn’t succeed in pushing through sweeping new federal powers for reconstruction in a 1944 referendum. Nonetheless, it found ingenious ways to foster Commonwealth-state cooperation, for instance, through section 96 grants (which provided federal funding to the states on terms and conditions set by the Commonwealth), and the federal funding of housing, hospitals and later universities in the states.
New Commonwealth-state bodies were also devised to support the coal and aluminium industries. The Commonwealth and NSW state Joint Coal Board, for example, completely revamped the almost moribund NSW black coal industry. A revived and mechanised NSW coal industry became internationally competitive and a significant export earner for Australia by the 1970s.
On the international front, Chifley and Coombs supported Australia’s participation in the 1944 Bretton Woods Conference, which reinvented the global financial system based on fixed exchange rates with the US dollar as a reserve currency. The International Monetary Fund and the World Bank were also established at the time.
Chifley and Coombs supported the new international arrangements because they understood the revival of the global economy was essential for Australia’s own prosperity. As they hoped, the Bretton Woods system, the General Agreement on Tariffs and Trade (GATT) and the Marshall Plan for western Europe all laid the global foundations for Australia’s domestic recovery.
<h2>How a post-pandemic agency might work</h2>
The federal government has already trialled a new policy-making agency during the COVID-19 pandemic with its “wartime” National Cabinet, which featured federal and state governments and their agencies working as one.
There are many ways a new economic recovery agency could build on the cohesion demonstrated by the National Cabinet and advise the Commonwealth government on rebuilding the economy.
Specifically, it could help replicate Curtin’s achievement in 1942 by advising on comprehensive reform of the Commonwealth-state taxation system. This process is already under way with several states calling for the substitution of land taxes for stamp duties.
A post-COVID-19 agency could also be involved in the revamping of the welfare system (post-JobKeeper/JobSeeker) to cope with the higher levels of unemployment and under-employment.
The agency could advise or coordinate a strategy for new infrastructure to create jobs, such as the building of hospitals, public housing and a transition to cleaner energy. Another possibility would be a return to independent petroleum refining, similar to Billy Hughes’s Commonwealth Oil Refineries that operated from 1919-52.
And a new agency could advise on reviving other major industries, such as tourism, the airlines, the higher education sector and even the banking system. During the Global Financial Crisis, the Rudd government had to underwrite loans to the banks and guarantee bank deposits. A major intervention may again be required.
Creating a Department of Post-War Reconstruction was considered by some to be the “boldest experiment” the country took after the war. And as a result, Australia’s post-war recovery was a remarkable success. This is what we need now – another bold experiment, in the spirit of bipartisanship.<img src="https://counter.theconversation.com/content/137899/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
David Lee is an Associate Professor of History at UNSW
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What we can learn from the successes of post-war reconstruction: David Lee

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EXPERT OBSERVATION
Many countries around the world, including Australia, are looking to the construction industry to help rebuild economies.
Industry bodies such as the Master Builders Association are strongly urging governments to bring forward spending on already approved infrastructure projects.
They also want these projects to be unbundled into smaller contract packages so small local businesses and the whole sector get a piece of the pie.
We should not ignore the risks involved in the rush to get the economy going again. We will pay for mistakes made now in the form of debt created by cost blowouts and unscrupulous developers. We will have to live with poor-quality, ill-conceived and environmentally damaging developments for decades.
Of course, construction and infrastructure programs provide us with a powerful stimulus tool. It’s why federal and state governments are looking to this sector to drive recovery. The social impact of investing in more construction and infrastructure could certainly be significant.
Construction is one of the country’s largest employers. The sector employs about 1.2 million people directly, and indirectly much more. It’s one of the largest employers of apprentices, youth and disadvantaged groups such as Indigenous people and refugees.
Investment in construction flows through the broader economy. The Australian Bureau of Statistics estimates every A$1 million spent on construction output generates A$2.9 million in output across the economy as a whole. Every job created in construction leads to another three in the wider economy.
Knowing this, state and local governments are relaxing hard-won controls to fast-track projects. Planning ministers are being given more power to override many of the statutory timeframes that govern normal planning and approval processes.
This approach creates many risks as well as many opportunities. If we do not control these risks in our rush to stimulate the economy, we are likely to regret this in future.
While the construction industry includes some world-class firms, the government-commissioned Productivity Commission inquiry into infrastructure raised many concerns about the lack of transparency and trust in development and infrastructure approval processes. It noted infrastructure project overruns were common. The extra costs amount to billions of dollars.
We are already battling a crisis of confidence in the residential apartments sector. Poor-quality buildings have devastated people’s lives. In New South Wales, the state government has appointed a building commissioner to clean up the mess.
Relaxing controls also opens the door to unscrupulous developers to exploit the crisis for their own personal gain. Transparency International’s recent submission to a Senate inquiry argues that powerful groups have too often prevailed over public interest. It warns:
Businesses in highly regulated industries, such as transport, mining, energy and property construction, all actively seek to influence politicians, although the channels of influence vary by industry.
In some countries we are already seeing developers exploiting the COVID-19 crisis to argue for relaxation and even removal of regulations put in place to ensure projects contribute positively to the communities in which they are built. A former senior adviser to US President Donald Trump has argued that his administration should trigger an emergency override of America’s environmental protection laws and establish “Australian-style permitting”.
If fast-tracked projects are undertaken without appropriate controls purely to boost the economy rather than meet a real community need, then we will be paying for this crisis for far longer than we expect.
As Elizabeth Mossop warned in her recent Conversation article, our governments are committing taxpayers to further debt to stimulate recovery from the economic impacts of the coronavirus pandemic. Infrastructure spending is great for economic stimulus, but it still has to be the right kind of infrastructure that meets local community needs.
Mossop argues for small-scale stimulus projects focused on local small businesses, rather than multinationals, to deliver broad, long-term community value. Investing stimulus funding in local businesses means the money recycles in the community, reduces inequality and helps meet real community needs.
Of course we need to move quickly to rebuild our economy. But we must also place the community at the heart of any decisions about which projects we push through the system.
We could learn much from the principles of urban acupuncture, which would advocate a community-based approach to stimulus. It would also warn against awarding contracts to major multinationals. These corporations suck money out of needy communities into the pockets of shareholders with no links to the communities we need to help.
Research shows procuring from local businesses provides a 77-100 per cent economic advantage and an 80-100 per cent increase in jobs compared to procuring from multinationals.
If stimulus programs follow traditional approaches to infrastructure procurement in Australia, then we will miss an unprecedented opportunity to tackle growing inequity. Even before this crisis, many younger and poorer members of our society were already being left behind.The Conversation
Martin Loosemore is a Professor of Construction Management at the University of Technology Sydney
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We may live to regret open-slather construction stimulus: Martin Loosemore

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Variable home loan rates continue to drop with Freedom Lend today, the new leader in the mortgage rate wars, according to RateCity.com.au data.
The online lender is now offering a new record-low variable rate of 2.17 per cent, for new customers with a deposit of 30 per cent of more.
Home loan rates have continued to drop despite no official change to the cash rate.
Analysis of the RateCity.com.au data base shows his month alone, 15 lenders have cut more than 50 variable home loan rates for new customers.
<img src="https://www.urban.com.au/images/2020/6/25/Lowest%20rates.JPG" alt="">
RateCity.com.au research director Sally Tindall said, “The fight is on between the non-bank lenders to have the lowest variable rate in Australia.”
“Over the last couple of months, smaller providers have had to chip away at their rates in order stay ahead of the big banks."
“Just three months ago, the lowest variable rate was 2.44 per cent. Since then it has dropped 27 basis points."
“With the number of new home loans on the decline, lenders desperately need new business so they’re looking to refinancers to make up the difference."
“The recent increase in refinancing activity suggests rock bottom rates are prompting people to switch to take advantage of the relentless market competition,” she said.
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Australia’s lowest variable interest rate reaches 2.17%

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Killarney Castle, a five-bedroom, three-bathroom castle in Gordon has been listed for sale by Black Diamond estate agents Alice Chen and Greg Howard. 
The <a href="https://www.realestate.com.au/property-house-nsw-gordon-133717414" target="_blank">3 Glenview Street property</a> is a local landmark and crafted from hand-hewn sandstone.
It has $4.95 million hopes.
The 1918 castle features lush established gardens with lawns and courtyards, high ceilings, exquisite joinery and intricate timber work, formal living and banquet dining rooms each with a fireplace, and a Chef's kitchen with high end Gaggenau appliances and gas cooking.
<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/2020/6/19/19_Kitchen.jpg" alt="">
For entertainment, the caste offers a large loft-style retreat, entertainment room, artist's studio or gym, wine cellar, and solar swimming pool. 
The castle last sold for $2,600,000 in 2013 and at $1,530,000 in 2000. 
<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/2020/6/19/19_Castle%20Pool.jpg" alt="">
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Gordon's Killarney Castle on the North Shore listed for sale

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Tech giant Atlassian has revealed its plan to build the world's tallest commercial hybrid timber tower to host their headquarters.
It will be located next to Sydney's Central Station.
The 40-storey building will be 180 metres tall and accommodate up to 4,000 Atlassian staff, with a YHA hostel occupying the lower levels.
It is Designated as part of the NSW Government's tech hub which is set to from Central into Redfern.
Atlassian plans to take up the majority of the floors in the building, while the rest are likely to be occupied by other tech or start-up companies. It declined to say how much it would cost to build.
CEO Mr Scott Farquhar said they hired New York architects SHoP to design the tower in partnership with Australian firm BVN. The building will operate on 100 per cent renewable energy and includes solar panels in its facade.
The tech giant will lodge development applications for the 40-storey building within months, and plans for construction to start next year.
The new headquarters is due to be completed in 2025, if all goes according to plan.
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Atlassian plans to build world's tallest commercial hybrid timber tower

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A four-bedroom, two-bathroom house in South Australia's Angle Vale has been listed for mortgagee sale.
The property is located in a cul-de-sac on Edmonds Road.
The 2,079 square metre parcel of land features a formal lounge with fireplace, family room, dining room and meals area.
There are rainwater tanks, and a large 20m x 6m pitched roof workshop with three roller doors.
It also features a two-bedroom granny flat.
<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/2020/6/19/20_Mortgagee%20Roller%20Roof.jpg" alt="">
The master bedroom has a large walk-in robe with ensuite, while the two-bedroom self-contained granny flat features its own bathroom and kitchen.
Outside features a variety of fruit trees, large lawn area and pond. 
The home was previously sold in 2004 for $315,000.
It as then listed unsuccessfully for 121 days in 2019.
Century 21 estate agent Simon de Wit has the current listing on behalf of Westpac Bank.
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Angle Vale, South Australia mortgagee family home listed

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Staff reporter

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