<html><body><div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Gladstone has mostly always managed to live in its own little bubble when it comes to how its market performs, according to a recent Herron Todd White (HTW) residential repot. </span></p>
<div><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></div>
<p><span>It has at various times over </span>the past few decades bucked the trends that were occurring around the state at the same time, such as when most other regional markets were suffering the effects of the GFC, Gladstone remained relatively buoyant on the back of major industrial announcements which would eventually turn into the biggest boom period Gladstone had ever seen.</p>
<p>"No doubt about it, Gladstone has been and probably always will be a boom and bust town whose residential market is not too heavily influenced by national or international trends but one that is definitely driven by strong local drivers," the valuation firm said. </p>
<p>Major industry announcements have the potential to change Gladstone markets on their heads basically overnight and these announcements, followed by boom periods, have occurred several times over the past few decades – think LNG, Yarwun 2, the refinery and the smelter.</p>
<div class="page" title="Page 21">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Over the past few years, the market has been driven by something most people are not accustomed to in our region and that is the affordability of property, the report noted. </span></p>
<p><span>"Yes, Gladstone went from being one of the most expensive regions to live </span>in the state to one of the cheapest regions in the space of about five years.</p>
<p>"Affordability is likely to remain the key driver for our markets in the foreseeable future," the valuation firm said. </p>
<p>While there is always talk of new industrial projects in Gladstone, more often than not, it remains as just talk. There are no major industrial projects of substance that will have a massive impact on our markets, however smaller projects such as the proposed solar farms, the proposed hydrogen plant and the Phillip Street Communities precinct will have positive flow on effects for our markets and our economy.</p>
<p><span>"On the back of affordability, we have seen a definite shift in the residential market with a good mix of buyer types currently active in the market, including first home buyers, upgraders, empty </span>nesters and investors.</p>
<p>"We predict the market will move slowly and steadily over the next few years basically until the region meets a more realistic price point which is in line with its regional neighbours or another major industry project approval is ticked off creating another boom. " </p>
<p>A recent sale was a three storey unit in Gladstone Central</p>
<p>The <a href="https://www.propertyobserver.com.au/The%203/46%20Yarroon%20Street." target="_blank">3/46 Yarroon Street </a>home (pictured below) has been sold for $195,000.</p>
<p>It comprises three bedrooms, three bathrooms, open plan lounge, modern kitchen and dining. </p>
<div><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/2020/5/18/gladstone%201.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>A South Gladstone renovated house is currently on the market with a price guide of $259,000.</div>
<div> </div>
<div>The three bedroom, one bathroom home is situated at <a href="https://www.realestate.com.au/property-house-qld-south+gladstone-133438366" target="_blank">94 Elizabeth Street</a> (pictured below).</div>
<div> </div>
<div>It features ceiling fans, extra-large timber deck, double garage and established gardens. </div>
<div> </div>
<div><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/2020/5/18/south%20gladstone%201.jpg" alt=""></div>
<div> </div>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
<div>
<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
</div>
<div><span><em> </em></span></div>
<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Gladstone property market expected to move steadily over the next few years: HTW residential 

<html><body><div class="page" title="Page 21">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>There is no doubt that the Mackay economy is heavily influenced by the resource sector in the Bowen Basin and associated service industries located in Paget, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said. </span></p>
<p><span>The report notes Mackay enjoyed a significant and sustained mining boom which lasted until about 2012/2013 when a major downturn in the resource sector had a massive flow on effect on the Mackay economy and residential housing market. </span></p>
<p><span>There were definitely some very hard times with significant job losses. The residential market fell between 20 percent and 30 percent, with the median house price falling around $100,000 during this time.</span></p>
<p><span>"The downturn did have some positive effects in Mackay, allowing the economy to diversify and </span>not be fully reliant on a booming resource sector," the valuation firm said. </p>
<p>Housing affordability became a real positive for the city, with workers who had been previously priced out of the housing and rental markets now able to enter the market.</p>
</div>
<div class="column">
<p><span>Since 2017, the Mackay residential market stabilised, the report noted. Throughout 2018 and 2019, Mackay has seen large infrastructure projects (such as the Mackay Ring Road project), an improved resource sector and increased employment opportunities have seen improved market conditions in the residential sector. </span></p>
<p><span>Throw in historic low interest rates and all the ingredients are there for sustained growth in residential real estate in the short to medium term.</span></p>
<p><span>"The one big caveat to this is the current COVID-19 pandemic and the economic effects it might have.</span></p>
<p><span>"At the time of writing, there has been limited disruption to the major industries in Mackay and the Bowen Basin, however, should the virus make its way here and into the Bowen Basin resulting in large disruptions and possible mining shutdowns, the effects could become quite pronounced. I guess only time will tell," the valuation firm said. </span></p>
<p><span>A two bedroom townhouse in Mackay has recently been sold for $200,000.</span></p>
<p>Te <a href="https://www.realestate.com.au/sold/property-townhouse-qld-mackay-132809774" target="_blank">5/54 Goldsmith Street </a>home (pictured below) was last sold in 2007 for $230,000.</p>
<p><span>The townhouse features raked ceilings, lock up garage, wet </span>room, and gardens. </p>
<p><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/2020/5/18/mackay%201.jpg" alt=""></p>
<p>A new listing is a two bedroom unit situated on the fringe of Mackay CBD.</p>
<p>The 72sqm unit at <a href="https://www.realestate.com.au/property-unit-qld-mackay-133596482" target="_blank">4/12 East Gordon Street </a>(pictured below) has been listed for sale with a price guide of $160,000.</p>
<p>It comes with family room, courtyard, large bathroom and private courtyard. </p>
<p><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/2020/5/18/mackay%202.jpg" alt=""></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
<div>
<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
</div>
<div><em> </em></div>
<div><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></div>
</div>
</div>
</div>
</div></body></html>

The impact of COVID-19 pandemic on Mackay property market remains unclear: HTW residential 

<html><body><div class="page" title="Page 10">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The main driver of the Coffs Coast market is population growth, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span> The report suggests the continual growth can be attributed to the traditional housing market role (attracting families and retirees from the greater Sydney and metropolitan areas further south), combined with the many natural assets, relatively diverse industrial base, growing health and education sectors plus transport infrastructure such as roads, airport and rail link.</span></p>
<p><span> This means the area is not entirely dependent on tourism which makes it a less risky investment with a higher liveability factor than some other coastal towns.</span></p>
<div class="page" title="Page 10">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"The proposed Pacific Highway bypass which is expected to start by the end of 2020 will have a significant injection into the local economy and increase short to medium term rental demand," the valuation firm said. </span></p>
<p><span>The region to the south of Coffs Harbour encompassing Urunga, Valla, Valla Beach, Nambucca Heads and Macksville have all experienced a surge in activity over recent years driven by the Pacific Highway upgrade between Warrell Creek and Raleigh seeing strong rental demand and buyer demand under $650,000.</span></p>
<p><span>A Nambucca Heads house sitting on a 686sqm block has recently been sold for $443,000.</span></p>
<p>The four bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-nambucca+heads-132619938" target="_blank">5 Nambucca Street</a> (pictured below).</p>
<p><span>It features kitchen with walk-in pantry, fourth bedroom or rumpus room, and double garage. </span></p>
<p><span><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/2020/5/4/nambucca%20heads.jpg" alt=""></span></p>
<p><span>The HTW report notes another area of strong performance is the historic rural township of Bellingen being popular with Sydney and greater metropolitan buyers looking for the green change.</span></p>
<p><span>A three bedroom home in Bellingen has been listed for sale with a price guide of $445,000.</span></p>
<p>The <a href="https://www.realestate.com.au/property-house-nsw-bellingen-133466154" target="_blank">7 Halpin Street</a> (pictured below) home comes with bathroom with separate toilet, covered patios, and established garden. </p>
<p><span>It is situated within walking distance to shops and schools. </span></p>
<p><span><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/2020/5/4/bellingen.jpg" alt=""></span></p>
<div class="page" title="Page 11">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>In general, the Coffs Coast has seen strong performance in all sectors of the market, not being isolated to any particular locality or product type.</span></p>
<p><span> There is a diverse type of product available from suburban family homes to prestige beachside properties or rural lifestyle options from small acreage close to town to larger rural holdings all within a 45 minute drive of Coffs Harbour.</span></p>
<p><span>"The region is seen as a solid investment opportunity offering diverse property outcomes supported by a range of lifestyle choices, services and good regional access. </span></p>
<p><span>"The strong levels of demand from buyers has been driven by investors and owner-occupiers looking to take advantage of these lifestyle factors, consistent long-term capital growth, expanding work base and strong rental returns, all of which are underpinned by the low interest rate climate experienced over recent years," the valuation firm said. </span></p>
<div><span style="text-decoration: underline;"><em>Note regarding COVID-19</em></span></div>
<div><span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span></div>
<div><em> </em></div>
<div><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Coffs Harbour sees strong performance in all property market sectors: HTW residential 

<html><body><div class="page" title="Page 19">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The Sunshine Coast, like most regional property markets, is underpinned by population growth, according to a recent Herron Todd While (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said. </span></p>
<p><span>The repot notes Sunshine Coast has traditionally been one of the fastest growing regions in Australia with the latest official population count of 375,271 as at 30 June 2018.</span></p>
<p><span>Population growth on the Sunshine Coast has slowed from the halcyon rates of close to six percent per annum in the early 1990s and touched a low point of 1.4 percent in 2011 due to the subdued state of the economy at the time. </span>Population growth has since reverted to an average of 2.4 percent per annum from 2011 through to 2018.</p>
<p><span>Official state government projections indicate that the Sunshine Coast’s population will reach approximately 583,000 residents in 2041. </span></p>
<p><span>Although this implies a strong increase in numerical terms, it envisages that the rate of population growth will only average two percent per annum over the 25 years from 2016 to 2041, considerably less than the 3.2 percent average experienced over the 25 years from 1991 to 2016.</span></p>
<p><span>Future growth will nevertheless remain well in excess of the Queensland and national averages, the report noted. </span></p>
<p>"When looking at the sales volumes of residential properties, we can see that there is a direct correlation to population growth. In circa 2003, we see the high peaks in our population, which is reflected in the sale volumes in the corresponding period.</p>
<p>"Equally in 2011, when the Sunshine Coast was at its lowest growth point, sales volumes were also at their lowest," the valuation firm said. </p>
</div>
</div>
<div class="page" title="Page 20">
<div class="section">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 20">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Within the local economy, main drivers traditionally are the tourism and construction sectors, and for a </span>number of years both these sectors have been performing pretty well, the report noted. </p>
<p>Over the past few years there have been a number of infrastructure projects that have helped to bring a level of maturity to the Sunshine Coast.</p>
<p>The first major project was the Sunshine Coast University Hospital and the continued growth surrounding the university which has benefited both the health and education sectors.</p>
<div class="page" title="Page 20">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>A Wurtulla</span> unit situated within walking distance to the Sunshine Coast University has recently been sold for $416,000.</p>
<p>The two bedroom, two bathroom unit is located at <a href="https://www.realestate.com.au/sold/property-unit-qld-wurtulla-132413894" target="_blank">29/46 Regatta Boulevard</a> (pictured below).</p>
<p>It comes with large outdoor verandah, private balcony, study nook, and spacious dining and living area. </p>
<p><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/2020/5/18/wurtulla%202.jpg" alt=""></p>
<p><span>More recently the Maroochydore CBD, Sunshine Coast Airport expansion and the Sunshine Coast International Broadband Submarine Cable project are all under construction and are all massive for the area.</span></p>
<p><span>A two bedroom inner city apartment in Maroochydore is currently on the market with $330,000 hopes. </span></p>
<p>The <a href="https://www.realestate.com.au/property-unit-qld-maroochydore-133129146" target="_blank">5303/5 Emporio Place</a> apartment (pictured below) features open plan living, kitchen with stone benches and one secure car parking space. </p>
<p><span>It is situated within walking distance to dining, parklands, retail and commercial </span>facilities.</p>
<p><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/2020/5/18/maroochydore.jpg" alt=""></p>
<p><span>"All these projects will continue to attract people to the Sunshine Coast and drive the market in the future," the valuation said. </span></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
<div>
<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
</div>
<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Sunshine Coast property market underpinned by population growth: HTW residential 

<html><body><div class="page" title="Page 13">
<div class="section">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 13">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Local drivers for the residential market in the Melbourne CBD include the influence of the educational sector, population growth, local and international migration as well as local employment, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said. </span></p>
<p><span>"The performance of the property market in the CBD is a result of the demand for rental properties in this area and the attractive yields that come with it," the valuation firm said. </span></p>
<p><span>The report notes this is due to the strong migration and appeal of Melbourne to higher education students coming from other states and countries as well as workers relocating to be closer to the business district. This creates a high demand for apartments in the city, which makes it attractive for long term investors.</span></p>
<p><span>Drivers impacting the residential property market are also quickly changing in light of the recent events this year, such as the Australian bushfires and the global pandemic of the Coronavirus.</span></p>
<p><span>"We have since seen cuts to the interest rate by the Reserve Bank of Australia to a historic low of 0.5 percent and economic stimulus packages to be </span>announced with the aim of boosting the economy and easing the financial fallout of these events," the valuation firm said. </p>
</div>
<div class="column">
<p><span>"Notwithstanding the COVID-19 crisis, with the recent announcement of a lowered cash rate, there may be an increased interest for those seeking to buy their first home as applicants will be in a better position to refinance their current mortgage so they are able to make lower repayments each month and less interest over the life of the home loan." </span></p>
<p><span>A two bedroom apartment located in the heart of Melbourne CBD has recently sold for $490,000.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-apartment-vic-melbourne-132944150" target="_blank">2107/11 Rose Lane</a> home (pictured below) comes with designer kitchen, open plan living and secure car park. </p>
<p><span>It is located within moments to shops, public transport, restarts and cafes. </span></p>
<p><span><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/2020/5/4/melbourne%201.jpg" alt=""></span></p>
<p>A new listing is a one bedroom Melbourne CBD apartment priced at $329,000.</p>
<p>The 25th floor apartment at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-133530370" target="_blank">2512/181 A'Beckett Street </a>(pictured below) comprises bedroom, bathroom, open plan living and dining and stone-topped kitchen. </p>
<p>The building features resort-style facilities, including gym, lounge, bike storage and rooftop BBQ terrace. </p>
<p><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/2020/5/4/melbourne%202.jpg" alt=""></p>
<p><em><span style="text-decoration: underline;">Note regards COVID-19</span></em></p>
<div>
<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
</div>
<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

High demand for Melbourne CBD apartments attracts long term investors: HTW residential 

<html><body>
<p><span>International buyer enquires have more than doubled over recent weeks for apartments in The Pacifica residential tower, in Auckland’s CBD.</span></p>
<p><span>With much of the world in lockdown due to COVID-19, buyers are looking into New Zealand as a safe investment choice.</span></p>
<p><span>According to CBRE, who are marketing the building, international enquiries have risen by over 200% in recent weeks, with two types of overseas buyers looking at The Pacifica now: buyers looking at New Zealand as a safe haven to invest, and buyers wishing to seek residency.</span></p>
<p><span>“We are receiving enquires from expat Kiwis living in London, New York, Australia, Hong Kong and Singapore. Many of these buyers are looking back into New Zealand with a potential view to returning home. We have also seen a significant uplift in enquiry from across Asia and USA, with buyers seeking a safe ‘bolt-hole’ investment,” said CBRE’s National Director of Residential Projects in New Zealand, Gavin Lloyd.</span></p>
<p><span>The Pacifica was the first project among a handful of properties to gain an exemption certificate from the Overseas Investment Office to allow overseas buyers to buy apartments.</span></p>
<p><span>Lloyd added that since the lockdown $8 million in contracts have been issued for apartments in the building.</span></p>
<p><span>Last month the sale of one of the 235 square metre penthouse apartments was concluded, and an Australian buyer amalgamated two adjoining apartments for his New Zealand residence.</span></p>
<p><span>The 57-level tower will ultimately have 279 apartments, and will feature a heated lap pool, sauna, steam room, spa, gym, media room, residents’ lounge, library and barbeque terrace.</span></p>
<p><span>Construction on the building began in November 2017, and completion is scheduled for the fourth quarter of 2020.</span></p>
<p><span> </span></p>
</body></html>

Pacifica tower in New Zealand sees 200% uptick in inquiries 

<html><body>
<p>DomaCom, a fractional investment platform, has rolled out a new model for seniors’ equity release that takes a different approach to the reverse mortgage model or Government Pension Loan Scheme.</p>
<p>According to the company, instead of raising a debt where the interest is capitalised against the property like a reverse mortgage, “the fractional model is a shared equity structure, meaning that seniors can sell part of their property to one or more investors while remaining in the property for as long as they want.”</p>
<p>“It is an ASIC-registered financial product that operates in similar fashion to a syndicate,” said DomaCom Marketing Manager, Warren Gibson.</p>
<p>“The only difference is that the title stays with the owner, and DomaCom protects the investors’ interest with a mortgage instrument over the property. When the senior decides to sell the property, the investors will receive a share of the net sale proceeds in proportion to the amount they invested.”</p>
<p>DomaCom has launched a campaign to gather expressions of interest from seniors “who would prefer to access equity in their home instead of raiding their superannuation or selling other assets.”</p>
<p>The company is hoping that demand from seniors may also fuel interest in funding equity release by some of Australia’s larger financial institutions, as well as bring the senior financial advice demand to the fore for financial planners and government.</p>
</body></html>

New solution unveiled for seniors looking to raise funds

<html><body>
<p>GUEST OBSERVATION</p>
<p>The Commonwealth government says if enough of us download its COVIDSafe app, restrictions on our movements and activities can be lifted more quickly and life can return to normal.</p>
<p>As important as it is to contain the spread of coronavirus, no government decision about how to do that is beyond question. For those of us concerned about the social and political life of our increasingly “smart” cities, the thinking behind the COVIDSafe app and other “smart city” technology must be open to challenge.</p>
<p>The public focus has been on the app’s privacy implications, but other important issues warrant critical scrutiny too. Indeed, the app could help to entrench problematic forms of social and corporate power over our lives.</p>
<p><strong>Social control</strong></p>
<p>As research on the <a href="https://doi.org/10.1177%2F0263775818812084" target="_blank">politics of smart technologies in our cities insists</a>, while personal privacy is important, it’s not the only issue here. Apps like this have implications for the forms of social control that operate in dense urban environments – where use of a digital technology is technically “voluntary”, but ends up being required if people want access to urban spaces and infrastructures.</p>
<p>Some protections are being promised in the case of the COVIDSafe app. These include a prohibition on employers, government authorities and others requiring any individual to install the app. The law still might not stop this in practice. Some business groups have <a href="http://www.theaustralian.com.au/nation/politics/coronavirus-employers-want-power-over-covidsafe-app/news-story/8d1cc1decd2df8a875fd48bf1bd4d949&amp;usg=AOvVaw1CMMU-5bHCGy-_rOxOFAOj" target="_blank">lobbied government</a> to enable employers to require employees to use the app.</p>
<p>Even if this legal prohibition holds, Prime Minister Scott Morrison has been making thinly veiled threats about more people needing to download the app before he lifts restrictions. App uptake is being demanded in the name of a public interest (in this case, public health).</p>
<p>There’s also significant risk of mission creep here. What other “public interests” might be used to justify contract tracing based on this precedent? It’s easy to imagine government agencies and authorities desiring contact tracing in the service of a range of interests that could be discriminatory and oppressive – the policing of immigrants, welfare recipients and activists, for example.</p>
<p>We must guard against such surveillance creep.</p>
<p><strong>Privacy protections</strong></p>
<p>Compared to other government and corporate apps, the COVIDSafe app now has relatively strong privacy protections. It keeps information about who you share space or associate with, but not where you go. It does this by storing encrypted data on the user’s phone about any other phones in range of a Bluetooth “handshake” that are also running the app.</p>
<p>Data will be automatically deleted after 21 days. Data will only be shared after a user has tested positive for COVID-19 and agreed to share the data. Only state health authorities may request and access data for contact tracing.</p>
<p>The <a href="https://www.itnews.com.au/news/covidsafe-privacy-protections-now-locked-in-law-548119" target="_blank">legislated protections</a> represent a big advance on some other government apps. For instance, <a href="https://www.smh.com.au/technology/no-warrants-needed-to-access-opal-card-records-20140708-zt02j" target="_blank">over 100 government authorities have access</a> to the data the New South Wales government collects from its public transport Opal smartcard.</p>
<p>It may be that neither governments nor corporations can assume people will continue to uncritically accept “<a href="https://reallifemag.com/the-authoritarian-trade-off/" target="_blank">trade-offs</a>” of public goods like personal privacy and autonomy for the convenience and benefits of digital technology.</p>
<p>However, <a href="https://www.iispartners.com/blog" target="_blank">some important privacy issues</a> remain unresolved, including:</p>
<ul>
<li>
<p>the amount of data stored, which is <a href="https://www.health.gov.au/resources/publications/covidsafe-application-privacy-impact-assessment" target="_blank">about all devices in range</a>, not just those in range for more than 15 minutes</p>
</li>
<li>
<p>whether data stored on Amazon servers will <a href="https://www.theguardian.com/law/2020/may/14/questions-remain-over-whether-data-collected-by-covidsafe-app-could-be-accessed-by-us-law-enforcement" target="_blank">potentially be accessible for US law enforcement agencies</a>,</p>
</li>
<li>
<p>when and how the data and app will finally be deleted.</p>
</li>
</ul>
<p><strong>Questions of power and profit</strong></p>
<p>It’s also important to ask who benefits from the mass uptake of this app.</p>
<p>A government agency developed the app, drawing in part on an open-source app made available by the Singapore government. But even when an app is “free” and no one profits from its sale, remember that smartphones and data are not free.</p>
<p>Data storage has been contracted out to Amazon Web Services. It was the only company asked to tender for this lucrative government contract. That has <a href="https://www.innovationaus.com/sovereign-capability-and-that-shocking-aws-deal/" target="_blank">raised both security concerns and questions</a> about why locally owned, security-accredited providers were not invited.</p>
<p>Like so many instances of “smart” technology being offered as the solution to pressing problems, the profits of big tech and big telcos who sell us devices, connectivity and data storage are being presented as natural and aligned with public good. It is clear tech corporations see the coronavirus crisis as an <a href="https://theintercept.com/2020/05/08/andrew-cuomo-eric-schmidt-coronavirus-tech-shock-doctrine/" target="_blank">opportunity to consolidate and expand their profits and their power</a>. Every problem <a href="https://www.lawfareblog.com/location-surveillance-counter-covid-19-efficacy-what-matters" target="_blank">looks like a nail to the folks who have hammers to sell</a>.</p>
<p><strong>Will it work?</strong></p>
<p>Given these concerns, will the COVIDSafe app even perform as promised? Here, the jury is still out.</p>
<p>Much discussion has focused on the minimum number of app users required for its coverage to be effective. But the app has other limitations too. It <a href="https://theconversation.com/contact-tracing-apps-are-vital-tools-in-the-fight-against-coronavirus-but-who-decides-how-they-work-138206" target="_blank">doesn’t yet work properly on iPhones</a>, for a start.</p>
<p>Most importantly, the app treats treats Bluetooth handshakes as a proxy for spatial proximity of devices, it treats this spatial proximity as a proxy for contact between people, and it treats prolonged contact between people as a proxy for viral transmission. Each step in this chain is <a href="http://progcity.maynoothuniversity.ie/wp-content/uploads/2020/04/Digital-tech-spread-of-coronavirus-Rob-Kitchin-PC-WP44.pdf" target="_blank">prone to significant failures and error</a>.</p>
<p>Fortunately, then, the government is not proposing to replace contact tracing performed by human health professionals. Data from the app will be used to support that process.</p>
<p>It’s vital we expand the scope of public discussion about this app and others in our increasingly “smart” cities and societies. Otherwise, we risk embracing “smart” solutions that create new surveillance infrastructures that further concentrate state and corporate power at the expense of our autonomy and alternative solutions to pressing societal problems.<img src="https://counter.theconversation.com/content/138296/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;"></p>
<p><span><a href="https://theconversation.com/profiles/kurt-iveson-1223" target="_blank">Kurt Iveson</a>, Associate Professor of Urban Geography and Research Lead, Sydney Policy Lab, <em><a href="https://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of Sydney</a></em></span></p>
<p>This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-trade-offs-smart-city-apps-like-covidsafe-ask-us-to-make-go-well-beyond-privacy-138296" target="_blank">original article</a>.</p>
</body></html>

Trade-offs ‘smart city’ apps like COVIDSafe ask us go well beyond privacy

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Fractional investment platform provider </span><span>DomaCom Limited</span><span> announced that it had extended the term of the outstanding convertible notes by 12 months.</span></p>
<p><em>Extension terms</em></p>
<p><span>DomaCom has agreed to make a payment of A$300k + GST to secure the extension along with a revised nominal conversion price of 10 cents.</span></p>
<p><span>This agreement reduces the need for additional capital by A$3.6 million and positions the Company on a more secure footing, allowing it to focus on delivering the following key products: Equity Mortgage, Rent to Own, Essential Worker, and Senior Equity Release.</span></p>
<p><span>The notes were issued in late 2018. Specifically, DomaCom secured $2.95 million in funding through the issue of a Convertible Security to Thundering Herd Fund No. 1 and Thundering Herd Pty Ltd, a Melbourne-based institutional investor [ASX Announcement: 10 December 2018].</span></p>
<p><em>New product overview</em></p>
</div>
</div>
</div>
<div class="layoutArea">
<div class="column">
<p><strong>Equity Mortgage</strong><span><strong>:</strong> This product is being developed to be Shariah compliant and is targeting the Australian Islamic community and other communities that are prohibited from borrowing money. As this product is aiming to provide a method of obtaining leverage for people wishing to purchase a home, it is not believed to be as exposed to negative property investment segment as normal property investment is expected to be. The Company is targeting a launch in Q3 2020.</span></p>
<p><strong>Rent to Own: </strong><span>Work on this product is continuing with the Company’s first transaction expected to occur in May 2020. This product uses the developer distribution margin to provide a discount to investors whilst gifting equity to tenants each year.</span></p>
<div class="page" title="Page 2">
<div class="section">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span><strong>Essential Worker:</strong> </span><span>DomaCom is progressing its Essential Worker affordable housing product with one </span>of Australia’s leading Community Housing Providers. This product aims to leverage the Government’s affordable housing lending facility to deliver a Rent To Own product for essential workers with a 25% discounted rent. This product is expected to be attractive due to low vacancy risk stemming from the security of the tenants’ employment (nurses, firefighters, teachers, police) in addition to the emotional impact of supporting our essential workers at this time. The targeted launch period for this product is Q3 CY20.</p>
</div>
</div>
</div>
<div class="layoutArea">
<div class="column">
<p><span><strong>Senior Equity Release:</strong> </span><span>Adviser accreditation for the Company’s Senior Equity Release product has commenced with the first group of advisers having completed the accreditation these past few weeks. The product is now on Approved Product Groups of four financial planning firms. DomaCom is currently preparing a campaign direct to the retirees to help identify those needing equity from their homes. COVID-19’s recent impact on self-funded retirees income has increased the market for this product.</span></p>
</div>
</div>
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span> </span><span>“It is pleasing that we have been able to secure an extension of our convertible notes. This is a significant outcome for us as it reduces our 2020 capital requirements by A$3.6 million. By reducing our need to raise capital, we will be able to better focus our efforts on launching the four new products currently in development. </span></p>
<p><span>"These products address key issues facing investors in Australia such as diversification, housing affordability and improved retirement outcomes. As our operations remain largely unimpacted by COVID-19, we hope to launch all of these products this year," DomaCom CEO Arthur Naoumidis said.</span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

DomaCom reduces 2020 capital requirements via extension of convertible notes

<html><body>
<p class="legacy">GUEST OBSERVER</p>
<p class="legacy">Stay-at-home orders have meant many people are happy to live in dispersed suburbs with free-standing, single-family homes. Quarantine feels less daunting with a backyard, plenty of storage space to stockpile supplies, and a big living room for morning stretches. Before the crisis, though, Australia was slowly moving toward urban density.</p>
<p><a href="https://www.domain.com.au/news/highend-melbourne-apartment-developments-offer-amenities-fit-for-a-mansion-20170406-gvefx2/" target="_blank">More apartments with communal amenities</a>, rather than privatised space, were being built, creating less dependence on driving. It is easy to think these urbanites are now glumly looking out their windows towards the more spacious suburbs, wishing they had made different choices. Yet, despite the impacts of restrictions, Australia’s future is in urban density and not the suburban sprawl of the past.</p>
<h2>The benefits of density done well</h2>
<p>Before the world changed and Australians were ushered inside <em>en masse</em>, the country was making great strides toward creating more compact, walkable cities. Denser neighbourhoods provided multiple benefits:</p>
<ul>
<li>
<p>better access to transport alternatives to cars</p>
</li>
<li>
<p>the creation of vibrant commercial districts</p>
</li>
<li>
<p>increased ability to house more people during affordability and homelessness crises.</p>
</li>
</ul>
<p>Nationally, we were building almost as many apartment units as single family homes. In cities like Melbourne and Sydney, <a href="https://blogs.unsw.edu.au/cityfutures/blog/2016/07/apartment-construction-boom-is-this-the-end-of-the-dream/" target="_blank">apartment construction even surpassed stand-alone houses</a> despite <a href="https://theconversation.com/life-in-a-windowless-box-the-vertical-slums-of-melbourne-41181" target="_blank">lax quality regulations</a> and <a href="https://theconversation.com/lack-of-information-on-apartment-defects-leaves-whole-market-on-shaky-footings-127007" target="_blank">design and construction flaws</a>.</p>
<p>Density was achieved not just through towers for <a href="https://www.smh.com.au/business/chinese-investors-are-pushing-into-melbourne-and-sydney-20141010-113q7x" target="_blank">Asian investors in CBDs</a>, but more subtle alterations such as townhouses and small blocks of flats. Residents moving into these neighbourhoods affirmed a sense of environmental consciousness, based on driving less, but also the belief in tight-knit communities with small businesses, parks and thriving street life.</p>
<p><span style="font-family: Arial, Helvetica, sans-serif; font-size: 14px;">Beware the siren call of suburbia</span></p>
<p>With the onset of COVID-19, it seems Australia’s new-found love of city living might be over, reverting to the suburban norm. The suburbs always offered a sense of safety, now more than ever.</p>
<p>Yet much of this is illusory. People still have to go shopping and, in many cases, to work, where they could be exposed to the virus. People have just as much control over their physical space in an apartment as in a house. (The exception is the lifts, but distancing measures and gloves can easily reduce risk.)</p>
<p>Australians may be tempted to re-embrace suburbia out of nostalgia for pre-virus safety, but they should remember what brought them to cities in the first place. As the architect Robin Boyd <a href="https://books.google.com.au/books?id=RDxR8Xu9WLIC&amp;pg=PA100&amp;dq=stealthy+crawl+like+dry+rot+eating&amp;hl=en&amp;sa=X&amp;ved=0ahUKEwij9u_Mna3pAhV4yzgGHZqECt8Q6AEIJzAA#v=onepage&amp;q=stealthy%20crawl%20like%20dry%20rot%20eating&amp;f=false" target="_blank">bemoaned</a> way back in his 1960 critique of suburbanisation, The Australian Ugliness:</p>
<blockquote>
<p>… the suburbs’ stealthy crawl like dry rot eating into the forest edge.</p>
</blockquote>
<p>With 60 years of government policy <a href="https://theconversation.com/50-years-on-from-the-melbourne-transportation-plan-what-can-we-learn-from-its-legacy-127721" target="_blank">propping up sprawl through freeway construction</a> and tax breaks like negative gearing, it continues to be its own kind of infection scarring the landscape.</p>
<h2>Don’t blame public health failures on density</h2>
<p>Despite re-animated fears of living closer together, many countries that have <a href="https://www.domain.com.au/news/high-density-living-should-not-be-feared-despite-the-spread-of-covid-19-945758/" target="_blank">successfully contained</a> the coronavirus have some of the <a href="http://www.citymayors.com/statistics/largest-cities-density-125" target="_blank">most densely populated cities</a> in the world. These cities include <a href="https://www.nationalgeographic.com/science/2020/05/how-south-korea-prevented-coronavirus-disaster-why-battle-is-not-over/" target="_blank">Seoul</a>, <a href="https://www.wsj.com/articles/hong-kong-plans-bounce-back-after-two-weeks-with-no-local-coronavirus-cases-11588611222" target="_blank">Hong Kong</a> and <a href="https://www.propertyobserver.com.au/https://www.aa.com.tr/en/asia-pacific/-taiwan-s-sars-experience-helped-it-beat-covid-19-/1830547" target="_blank">Taipei</a>. They have done this not by separating people but by increasing testing and contact tracing.</p>
<p>What is needed during a pandemic is not panic but effective public health. Prosperous, well-managed city governments are often best placed to offer these services to the community.</p>
<p>Negative examples like the United States, where the Trump administration has devolved responsibilities to states and cities, provide even more proof of why cities have to be at the forefront of public health campaigns, whether or not they choose that role voluntarily. The same could be said of Australia, where state governments in <a href="https://www.smh.com.au/national/scott-morrison-has-a-good-story-to-tell-but-the-world-isn-t-listening-20200424-p54mt3" target="_blank">Victoria and New South Wales took the lead</a> on restricting gatherings as the national government dithered.</p>
<p>Now, more than ever, we are appreciating urban life from afar: making lists of our favourite restaurants, changing our Zoom background during “virtual happy hour” to the interior of our local pub, and yearning for social connections that have migrated online.</p>
<p>We should listen to our desires and use this moment to double down on urban density when the crisis subsides, by funding mass transit and providing incentives to construct apartments rather than free-standing suburban homes.</p>
<p>Low-density living is less sustainable, less affordable and less fun. We should all remember that, despite currently having to keep our distance from one another.</p>
<p><span><a href="https://theconversation.com/profiles/max-holleran-548740" target="_blank">Max Holleran</a>, Lecturer in Sociology, University of Melbourne, <em><a href="https://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a></em></span></p>
<p>This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-coronavirus-must-not-stop-australia-creating-denser-cities-137487" target="_blank">original article</a>.</p>
</body></html>

Why coronavirus must not stop Australia creating denser cities

<p>New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.</p>

<p>It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.</p>

<p>With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.</p>

<p>The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.</p>

<p>Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=372394]</p>

<p>Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.</p>

<p>"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.</p>

<p>"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=953]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.</p>

<p>Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.</p>

<p>That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=925]</p>

<p>Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.</p>

<p>Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.</p>

<p>"The Lennox is where aspirational living becomes attainable," Hamblett said.</p>

<p>"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."</p>

<p>Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.</p>

<p>"At The Lennox, lifestyle is not an afterthought, it is the foundation."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=5374]</p>

<p>The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.</p>

<p>Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.</p>

<p>That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.</p>

<p>"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."</p>

<p>[smartcode_project_cta:default project_id=5743]</p>


Joel Robinson

The apartment price gap drawing Sydney buyers west

<p>A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.</p>

<p>The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.</p>

<p>The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.</p>

<p>The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.</p>

<p>Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.</p>

<p>"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.</p>

<p>"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."</p>

<p><img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" /></p>

<p>Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.</p>

<p>Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.</p>

<p>Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.</p>

<p>"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.</p>

<p>"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."</p>

<p>Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.</p>

<p>Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.</p>


Rainbow Bay apartment doubles in price since off the plan sale during pandemic

<p data-end="315" data-start="85">The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.</p>

<p data-end="499" data-start="317">The project, to be known as <strong data-end="376" data-start="345">Capella Residences Brisbane</strong>, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.</p>

<p data-end="899" data-start="501">The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.</p>

<p data-end="1154" data-start="901">The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.</p>

<p data-end="1387" data-start="1156">The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.</p>

<p data-end="1387" data-start="1156"><img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" /></p>

<p data-end="1611" data-start="1389">Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.</p>

<p data-end="1823" data-start="1613">Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.</p>

<p data-end="2042" data-start="1825">The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.</p>

<p data-end="2177" data-start="2044">The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.</p>

<p data-end="2420" data-start="2179">The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.</p>

<p data-end="2724" data-start="2422">"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.</p>

<p data-end="2858" data-start="2726">"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."</p>

<p data-end="3130" data-start="2860">Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.</p>

<p data-end="3415" data-start="3132">"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.</p>

<p data-end="3658" data-start="3417">"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."</p>

<p data-end="3820" data-start="3660">Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.</p>

<p data-end="3961" data-start="3822">"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.</p>

<p data-end="4083" data-start="3963">"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."</p>

<p data-end="4227" data-start="4085">Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.</p>


Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

<p>Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.</p>

<p>The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.</p>

<p><img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" /></p>

<p><a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.</p>

<p>"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.</p>

<p>"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.</p>

<p>"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."</p>

<p><img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" /></p>

<p>Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.</p>

<p>The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.</p>

<p>"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.</p>

<p>"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."</p>

<p>Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.</p>

<p>"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.</p>

<p>"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."</p>

<p>Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.</p>

<p>[smartcode_project_cta:default project_id=113271]</p>


Lewis Land targets first home buyers at latest Harbour Shores release, Solis

<p>Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a></p>

<p>The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.</p>

<p>The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.</p>

<p>The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.</p>

<p>[smartcode_project:default project_id=108800 project_image_fid=370093]</p>

<p>Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.</p>

<p>"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.</p>

<p>"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."</p>

<p>Brown says the&nbsp;response to Park Residences following completion has been particularly strong.</p>

<p>"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.</p>

<p>"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."</p>

<p>[smartcode_project:default project_id=114246 project_image_fid=370116]</p>

<p>Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.</p>

<p>"Today's buyers are incredibly discerning," Tack said.</p>

<p>"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.</p>

<p>"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."</p>

<p>The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.</p>


Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News