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The CBD and inner Sydney suburbs are geographically within a relatively small area, however there are many sub-markets at play within these regions, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at what things traditionally matter to property markets and how current crisis is playing into decision making. 
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As a generalisation, the report suggests some of the big- picture elements that impact on the market include interest rates, availability and ease of finance, affordability, changes to overseas purchasing and oversupply of new units in certain areas.
Interest rate cuts and improving general market sentiment along with a limited supply of established stock in many inner city areas have been some of the main drivers of strengthening market conditions and property prices over the past few months.
"With proximity to the CBD, public transport and lifestyle amenities, the inner city is a popular choice for first home buyers," the valuation firm said. 
This market segment is urrently performing well, with lenders favouring owner-occupiers over investors, interest rates at record lows and first home buyer incentives available from the government.
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Upgraders were hit hard when lending was tightened last year, however as interest rates have dropped and APRA regulations have been relaxed, buyers have returned to properties within the $2 million to $3 million bracket, the report notes. 
A parkside residence at <a href="https://www.realestate.com.au/sold/property-house-nsw-five+dock-132908398" target="_blank">2 Heath Street, Five Dock</a> (pictured below) recently sold for $3.555 million (PriceFinder) after 26 days of its auction campaign (source: RP Data).
The property is built to a high standard with basement parking and enjoys views over the adjoining park.
<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/2020/4/14/five%20dock.jpg" alt=""> 
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"Downsizers are also cashing in on the rising market, selling large suburban homes or inner city terraces and often entering the premium unit markets within the inner city, such as Jackson’s Landing at Pyrmont or Darling Point," the valuation firm said.
The properties typical of the downsizer market are often tightly held, causing increased competition when one is offered to market.
Investor activity is improving due to relaxing APRA regulations and decreases to interest rates.
 However, the recovery occurring within this market segment is generally more limited, even more so within modern medium and high density precincts.
The report notes some aspects are having noticeable effects on certain areas however, for example, interest rate reductions appear to be encouraging more activity and price growth particularly within the owner-occupier inner east and inner west suburbs, however this has not been as noticeable within higher density investor-focused suburbs such as Zetland and Waterloo in particular.
The number of new unit developments has slowed, largely as a response to tighter finance for developers. 
"Sales agents are also reporting limited numbers of buyers for off the plan units due to the loss of confidence in the construction of such complexes after multiple incidents of major defects across Sydney. 
"That being said, many complexes are under construction with existing pre-sales and this relatively concentrated supply pipeline of generic or investor grade stock is also causing the recovery within this market segment to be slower," the valuation firm said. 
The slow down within this market segment is driving larger developers (with more financial clout) to improve their product offerings, such as Crown Group which has placed significant emphasis on the architectural features of recently settled complexes in Green Square and the CBD.
Unfortunately some developers have been forced to cut costs and have delivered products that have underwhelmed their off-the-plan purchasers.
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"Infrastructure projects are also significant within these areas; the recent completion of the light rail from Circular Quay to Randwick, which has caused an uptick in interest throughout the CBD and Surry Hills, is translating to higher auction clearance rates and price growth," the valuation firm said. 
Furthermore this is spurring growth in the neighbouring bridesmaid suburbs of Redfern and Darlinghurst.
A two bedroom apartment has recently been sold for $875,000.
Located at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-redfern-133317118" target="_blank">93/146 Pitt Street</a>, the 96sqm apartment comes with open plan lounge/dining area, undercover balcony and kitchen with breakfast bar. 
It's situated a stroll to village shops, bars and eateries as well as Redfern Station. 
<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/2020/4/14/redfern.jpg" alt="">
Furthermore, development around the Barangaroo precinct at the northern end of the CBD has improved the marketability of units in neighbouring Millers Point and Dawes Point.
The WestConnex Motorway project is also having some negative connotations for certain inner west suburbs such as Rozelle and Lilyfield in particular due to construction sites, interchanges, ventilation facilities and the unknown associated impacts for properties nearby.
 
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j.ballantyne1990-6AQqhLzZaK

Inner Sydney property market sees limited numbers of buyers for off the plan units: HTW residential 

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Downsizers are playing a significant part in driving the local market in the Sutherland Shire, as they sell their larger family homes for smaller three- bedroom units or duplex homes, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at what things traditionally matter to property markets and how current crisis is playing into decision making. 
"These types of properties appeal to the downsizer market as they cash in on their large family home for a more modern and low maintenance alternative," the valuation firm said. 
Prestige units located in central areas near transport and shops have always been popular with the empty nester demographic and more recently, low maintenance duplexes with a lift, minimal stairs or the ability to have a bedroom and bathroom on the ground floor are also proving popular.
A one bedroom apartment with parkland views in Miranda has recently been sold for $531,500.
Situated at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-miranda-133200262" target="_blank">74/7-15 Jackson Avenue</a> (pictured below), the apartment is close to Miranda Station, shops, cafes and restaurants.
It comes with kitchen with gas appliances, enclosed balcony, sleek bathroom and lock up garage. 
<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/2020/4/14/miranda%201.jpg" alt="">
"We have also noticed a trend in the downsizer market to demolish the existing family home and build a duplex pair, staying in one and selling or renting the other," the valuation firm said. 
The report notes upgraders have also been active in the market over the past six months, with young families moving from a unit or townhouse to a detached dwelling or duplex.
"Upgraders are looking for something near transport, schools and shops, and often prefer modern or renovated properties so that they can move in with nothing to do.
"This is a change to what we have seen in the past as this demographic tended to prefer a dwelling they could renovate themselves and therefore increase the value," the valuation  firm continued. 
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First home buyers are generally attracted to two- bedroom units along the railway line, particularly from Sutherland to Cronulla.
A two bedroom apartment in Sutherland is currently on the market with a price guide of $600,000 - $650,000.
The two bedroom, one bathroom apartment is situated at <a href="https://www.realestate.com.au/property-apartment-nsw-sutherland-133409382" target="_blank">17/76 Auburn Street </a>(pictured below). 
It comes with open plan living and dining area, covered balcony, modern kitchen and double garage. 
<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/2020/4/14/sutherland.jpg" alt="">
However the recent increase in new unit complexes around the Miranda, Kirrawee and Caringbah areas created an oversupply with developers having to implement incentives such as cash back or stamp duty rebates to clear the remaining stock, the report notes. 
"This oversupply issue has started to ease in recent months as the number of complexes under construction has reduced. Despite this we are still seeing examples of units that were completed mid 2019 for sale, with developers offering incentives to clear the remaining stock," the valuation firm said. 
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Sutherland Shire property market driven by downsizers: HTW residential 

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The first home buyer market is more sensitive to general economic factors such as interest rate movement and fiscal policy, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at what things traditionally matter to property markets and provided some take on how current crisis is playing into decision making. 
The report suggests that Localised factors such as supply levels also play a part, with affordability being a key market driver. 
Brookvale is a popular sublrb for first home buyers, having one of the lowest median unit prices of $745,000 as at December 2019, in comparison to the Northern Beaches median of $875,000 (source: CoreLogic).
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"The area has seen strong development over the course of the past decade, resulting in a healthy level of stock that has consequently placed downward pressure on values," the valuation firm said. 
<a href="https://www.propertyobserver.com.au/images/2020/4/20/northern%20beaches%20.jpg" target="_blank">Click here </a>to enlarge: 
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Northern Beaches building approvals dropped drastically in 2018/2019 and are tracking at similar levels for the 2019/2020 financial year.
"There is a clear correlation between volume levels and building approvals and we would anticipate these factors to impact the first home buyer unit market," the valuation firm said. 
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"For the upgrader market, we’ve seen strong demand from buyers outside of the Peninsular really driving this level of the market," the valuation firm continued. 
Realestate. com.au reported that 2019 was the first time more outside buyers were searching for properties on the Northern Beaches than those within.
The inner-west and eastern suburbs were key regions, with factors such as infrastructure upgrades including the B-line providing faster commuting options to the CBD, increase in flexible working arrangements allowing individuals to work from home more frequently, and the affordability of the area in relation to other Sydney regions proving key factors in this shift.
At the prestige end, Palm Beach is synonymous with prestige and a large number of these properties are owned by high net worth individuals from outside of the Northern Beaches, however there is also a strong local prestige market along the coastline, the report noted. 
<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/2020/4/20/Collaroy%20Plateau.jpg" alt="">
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<a href="https://www.realestate.com.au/property-house-nsw-collaroy-133077790" target="_blank">67 Edgecliffe Boulevard, Collaroy Plateau</a> (pictured above) is currently on the market through Knight Frank with a reported initial guide of $10 million, roughly $5 million above the suburb record.
According to the HTW report, this brand new luxury asset is sure to appeal to both local and international markets due to the ultra-modern finishes, unique position and unbeatable views.
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"Whilst we have not seen any recent change in market sentiment and values to date, the outlook for the prestige sector remains rather uncertain.
"If the current global economic turmoil continues, we consider this will likely have a negative impact on demand and value levels," the valuation firm concluded. 
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Northern Beaches prestige sector remains uncertain in the time of COVID-19 pandemic: HTW residential 

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The past five years have provided good evidence of the factors that drive the Sydney property market, according to the latest Herron Todd White (HTW) residential report.
The valuation firm took a look at what things traditionally matter to property markets and how current crisis is playing into decision making.
The report suggests fiscal, regulatory and monetary policies have all played their parts as the wider Sydney market went from strong growth to its largest decline in three decades before rebounding so quickly that the Sydney median price is already knocking on the door of the previous peak.
"Whilst traditional drivers such as employment levels and the national economic outlook do play a part, these have been fairly stable throughout that five year period as the market fluctuated wildly (in Sydney property price terms anyway).
"The current COVID-19 epidemic is going to have a negative impact on both of these 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.
Low interest rates were a big driver in the market climbing until mid-2017, despite growing affordability issues as many first home buyers were either priced out of the market or had to reconsider the type of property or the suburb they could afford to buy.
"We then experienced tighter lending policies as a result of APRA regulation and the banking Royal Commission which saw the market drop by around 15 percent across Sydney, with some areas dropping by more than 20 percent," the valuation firm said.
Houses were harder hit than units, while the top quartile, excluding the prestige end, experienced the largest falls.
There was a triple boost to the property market in mid-2019, as APRA weakened lending restrictions, the Reserve Bank lowered interest rates three times within a few months and the Coalition government was returned in the federal election.
The report notes the unexpected election result meant that the planned changes to capital gains tax and negative gearing policy proposed by the Labor opposition, would not eventuate.
These three factors saw the Sydney market stabilise between June and August and then rise quickly between September and December, recovering around two-thirds of the median price decline experienced during the downturn. Houses and those areas that saw larger decreases during the decline were generally those that rebounded the quickest.
First home owner incentives introduced in January have also seen these buyers re-enter the market in greater numbers, providing a boost to the lower quartile of the property market.
This was also the experience during the aftermath of the Global Financial Crisis as low interest rates and significant first home owner incentives saw this part of the market grow quickly at a time when the wider economy was struggling.
"The unit market in Sydney has had some additional challenges to deal with over the past couple of years. Whilst prices did not decline as fast as they did for houses, issues around flammable cladding and the highly publicised structural issues of several buildings throughout Sydney have meant increased buyer caution in the new unit market," the valuation firm said.
Certain suburbs also had a large supply of new units reaching settlement at the bottom of the market after being purchased off the plan at the height of the market.
More recently, the supply of new units has slowed and remaining developer stock in completed buildings is now more readily selling, in some cases at prices close to what they were achieving off the plan.
It should be noted though that some developers are resorting to incentives or rebates to clear this stock.
Infrastructure spending has also increased in Sydney over the past few years with a number of large projects still underway or planned for completion by the end of the decade. This has helped fuel the local economy and provide a boost to those suburbs which directly benefit from these infrastructure upgrades.
"Although clearance rates have remained high in recent weeks, there is no doubt that the COVID-19 outbreak will lead to a short term softening in market activity," the valuation firm said.
According to CoreLogic, there were 749 auctions in the wider Sydney region for the week ending 15 March, down 28 percent from the 1045 auctions held in the week ending 1 March. They also reported that the preliminary auction clearance rate has dropped from 82.6 percent to 74.6 percent over the past two weeks.
"Despite this, median prices have continued to increase throughout this period.
"It is likely that potential sellers will hold off listing their properties in the next few months as Australia goes through an increase and (hopefully) peak in COVID-19 cases. This lack of new stock on the market will likely help hold up property prices," the valuation firm said.
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Sydney median prices continue to increase in the time of coronavirus crisis: HTW residential 

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GUEST OBSERVATION
What began as a global health crisis in the form of COVID-19 is now also an economic crisis of <a href="https://www.theaustralian.com.au/business/economics/coronavirus-worst-year-since-great-depression-says-imf/news-story/0e9976bdbd46ebae16d19f8190241467">historic proportions</a>. Much of the housing policy focus during the pandemic has rightly centred on the plight of people who are <a href="https://theconversation.com/homelessness-and-overcrowding-expose-us-all-to-coronavirus-heres-what-we-can-do-to-stop-the-spread-134378">insecurely housed or homeless</a>. Another strand of commentary has focused on a likely <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-04-01/national-house-prices-march-coronavirus-property-corelogic/12109434">fall in property values</a>.
But what does the pandemic mean for housing market inequalities in Australia? And what are the policy implications?
The renter-owner gap will widen
Despite concerns about house prices plummeting, the spread of COVID-19 is exposing a widening gap in housing markets between those who own zero housing wealth (renters) and those with substantial housing wealth (owners).
Australians with little to no housing wealth were already experiencing at least three key types of vulnerabilities before the pandemic in the form of work insecurity, financial stress and ill-health.
The charts below show the comparisons between renters and home owners in these three categories of vulnerability, using data from the <a href="https://melbourneinstitute.unimelb.edu.au/hilda">HILDA Survey</a>. Owners are ranked in quintiles by housing equity, from the bottom 20% (Q1) to the top 20% (Q5).
Renters were much more likely to be unemployed or in casual jobs than people with high housing wealth.
<a href="https://images.theconversation.com/files/328282/original/file-20200416-140719-139mm6a.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/328282/original/file-20200416-140719-139mm6a.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Note: Sample includes all persons aged 25+ no longer living in their parents’ homes. Housing equity is defined as family home value minus mortgage debt. Population weights have been applied. Author's calculations from 2017 Household, Income and Labour Dynamics Survey data, Author provided
Both renters and owners with low housing equity were more likely to have difficulty paying their rent, mortgage and utility bills on time. They were less likely to be able to raise emergency funds when needed.
<a href="https://images.theconversation.com/files/328285/original/file-20200416-140706-q8u8wo.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/328285/original/file-20200416-140706-q8u8wo.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Note: Sample includes all persons aged 25+ who are no longer living in their parents’ homes. Housing equity is defined as family home value minus mortgage debt. Population weights have been applied. Author's calculations from 2017 Household, Income and Labour Dynamics Survey data, Author provided
Renters were also more likely to report poorer physical and mental health.
<a href="https://images.theconversation.com/files/328286/original/file-20200416-140697-1nqojfc.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/328286/original/file-20200416-140697-1nqojfc.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Note: Sample includes all persons aged 25+ who are no longer living in their parents’ homes. Housing equity is defined as family home value minus mortgage debt. Population weights have been applied. Author's calculations from 2017 Household, Income and Labour Dynamics Survey data, Author provided
The spread of coronavirus has added to these existing vulnerabilities. Casual workers have been <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-03-26/coronavirus-centrelink-unemployment-canberra-jobseeker-casuals/12089532">particularly vulnerable to job loss</a>.
The <a href="https://www.who.int/social_determinants/thecommission/finalreport/key_concepts/en/">social gradient in health</a> is well-known. People on the bottom rungs of the socioeconomic ladder tend to be in poorer health. They are then more likely to develop serious <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/triplej/programs/hack/coronavirus-is-exposing-whats-broken-in-australia/12081812">health problems from the coronavirus</a>.
Post-pandemic markets will add to inequalities
COVID-19 is making existing economic inequalities worse. And even in a post-pandemic world it can be expected to slow down wealth accumulation among renters.
<a href="https://www.propertyobserver.com.au/https://www.rba.gov.au/publications/bulletin/2014/sep/2">Hysteresis</a> is a term used to describe an economic event that persists into the future, after the factors that led to the event have disappeared. In labour markets, the long-term unemployed also suffer long-term damage to their job prospects as their skills deteriorate and they are regarded as less employable.
This hysteresis effect will likely spill over into housing markets. Any crisis-driven falls in house prices may be short-term as <a href="https://www.domain.com.au/advice/is-property-still-safe-as-houses-947518/?utm_campaign=strap-masthead&amp;utm_source=the-age&amp;utm_medium=link&amp;utm_content=pos5&amp;ref=pos1">housing values remain relatively insulated</a> by record low interest rates. People who are exposed to job loss, insecure work or ill-health during the crisis will face a greater struggle to regain their economic footing after the pandemic than those from more affluent backgrounds.
This means the wealth-accumulating capacity of people with little to no housing equity is further compromised during and after the pandemic. In short, renters could fall further behind in their ability to buy a home. The gap between the haves and have-nots will grow.
3 principles for post-pandemic policy
An even more unequal housing future for Australia is undesirable. The post-crisis housing debate will need to be conducted with three key elements in mind: equity, solidarity and security.
Equity in access to housing opportunities must not slide off policymakers’ radar. It is not a debatable fact that governments have long provided <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-05-10/budget-2018-housing-affordability-first-home-owners-millennials/9745672">generous concessions</a> for property buyers. These measures include <a href="https://theconversation.com/why-politicians-hate-the-idea-of-taxing-the-homes-of-the-rich-52973">capital gains tax discounts</a>, family home exemptions from <a href="https://theconversation.com/a-land-value-tax-could-fix-australasias-housing-crisis-49997">land tax</a> and <a href="https://www.propertyobserver.com.au/https://www.servicesaustralia.gov.au/individuals/topics/assets/30621">income support means tests</a>, and <a href="https://theconversation.com/the-game-of-homes-how-the-vested-interests-lie-about-negative-gearing-112222">negative gearing for investors</a>.
These preferential tax treatments have <a href="https://melbourneinstitute.unimelb.edu.au/assets/documents/hilda-bibliography/other-publications/pre2010/Wood_Stewart_and_Ong_Housing_Taxation.pdf">far exceeded government spending on renters</a>. Notwithstanding the <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/14036090120617">benefits commonly associated with home ownership</a>, restoring some balance in the distribution of subsidies between owners and renters is essential to narrow the widening chasm between them.
Solidarity between generations will be more crucial than ever before to preserve Australia’s social and economic fabric. The <a href="https://theconversation.com/vital-signs-scott-morrison-is-steering-in-the-right-direction-but-were-going-to-need-a-bigger-boat-135209">surge in national debt</a> created in response to the crisis will likely be a multi-generational burden.
Some might be tempted to return to pitting the young against the old in housing debates. Policy thinking that encourages solidarity, rather than stoking tensions between generations, will be increasingly important. For instance, <a href="https://www.ceda.com.au/CEDA/media/General/Publication/PDFs/HousingAustraliaFinal_Flipsnack.pdf">abolishing stamp duty together with levying land tax on all land</a> will remove a key financial barrier to home purchases for both young first-time buyers and older downsizers.
The formation of the national cabinet to oversee the response to COVID-19 also provides a post-pandemic forum to forge federal-state cooperation on the required reforms. Federal support will be needed to help cover state revenue shortfalls in a <a href="https://www.taxinstitute.com.au/australian-tax-forum/stamp-duties-land-tax-and-housing-affordability-the-case-for-reform">gradual transition to land tax</a>. On the other hand, the release of housing equity by older downsizers should ease <a href="https://theconversation.com/fall-in-ageing-australians-home-ownership-rates-looms-as-seismic-shock-for-housing-policy-120651">pressures on the federal retirement incomes system</a>.
Finally, it is time to reprioritise <a href="https://www.ohchr.org/documents/publications/fs21_rev_1_housing_en.pdf">housing security as a foundation for fostering good health and economic participation</a>. Critical public health measures to avoid the spread of disease, such as social distancing and staying at home, are inherently shelter-related. These measures are rarely achievable for <a href="https://theconversation.com/homelessness-and-overcrowding-expose-us-all-to-coronavirus-heres-what-we-can-do-to-stop-the-spread-134378">people who are homeless or in overcrowded housing</a>.<img src="https://counter.theconversation.com/content/135808/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;">
<a href="https://theconversation.com/profiles/rachel-ong-viforj-113482">Rachel Ong ViforJ</a>, Professor of Economics, School of Economics, Finance and Property, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/as-coronavirus-widens-the-renter-owner-divide-housing-policies-will-have-to-change-135808">original article</a>.
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As coronavirus widens the renter-owner divide, housing policies will have to change

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EXPERT OBSERVER
In recent weeks a growing chorus of Australian commentators has called for social distancing measures to be eased or radically curtailed.
Some have <a href="https://www.theaustralian.com.au/business/economics/coronavirus-lockdown-hysteria-is-ruining-10-million-lives/news-story/fd5307f58302cf1ab928decb07b2619c">claimed </a>the lives saved by the lockdowns are not worth the damage they are causing to the economy.
Others have <a href="https://www.smh.com.au/national/baby-boomers-won-t-like-it-but-next-step-after-lockdown-is-herd-immunity-20200415-p54k0t">claimed</a> the case for easing is strengthened by the fact many of the hardest hit by COVID-19 are elderly or suffering from other conditions.
Some might expect economists, of all people, to endorse this calculus.
But as economists we categorically reject these views, and we believe they do not represent the majority of our profession.
We believe a callous indifference to life is morally objectionable, and that it would be a mistake to expect a premature loosening of restrictions to be beneficial to the economy and jobs, given the rapid rate of contagion.
It is wishful thinking to believe we face a choice between a buoyant economy without social distancing and a deep recession with social distancing.
In a world with COVID-19, there are no good choices.
The best we can do is limit the spread of COVID-19 as much as practicable and rely on the strength of the government’s balance sheet to cushion the impact on the workers and businesses hardest hit.
Our success to date is a direct result of the measures taken, but we cannot afford to be complacent.
We recognise there are trade-offs on some margins, but we urge the government to work closely with public health experts to carefully determine at what time, in what ways, and in which sectors, to begin lifting restrictions.
There should be no doubt the cost of getting this wrong is very high.
Open Letter from Australian Economists
19 April, 2020
Dear Prime Minister and Members of the National Cabinet,
The undersigned economists have witnessed and participated in the public debate about when to relax social-distancing measures in Australia. Some commentators have expressed the view there is a trade-off between the public health and economic aspects of the crisis. We, as economists, believe this is a false distinction.
We cannot have a functioning economy unless we first comprehensively address the public health crisis. The measures put in place in Australia, at the border and within the states and territories, have reduced the number of new infections. This has put Australia in an enviable position compared to other countries, and we must not squander that success.
We recognise the measures taken to date have come at a cost to economic activity and jobs, but believe these are far outweighed by the lives saved and the avoided economic damage due to an unmitigated contagion. We believe strong fiscal measures are a much better way to offset these economic costs than prematurely loosening restrictions.
As has been foreshadowed in your public remarks, our borders will need to remain under tight control for an extended period. It is vital to keep social-distancing measures in place until the number of infections is very low, our testing capacity is expanded well beyond its already comparatively high level, and widespread contact tracing is available.
A second-wave outbreak would be extremely damaging to the economy, in addition to involving tragic and unnecessary loss of life.
Sincerely,
<a href="https://theconversation.com/profiles/alison-booth-153308">Professor Alison Booth</a>, Australian National University
<a href="https://theconversation.com/profiles/jeff-borland-1079">Professor Jeff Borland</a>, University of Melbourne
<a href="https://theconversation.com/profiles/lisa-cameron-986169">Professorial Research Fellow Lisa Cameron</a>, Melbourne Institute, University of Melbourne
<a href="https://theconversation.com/profiles/efrem-castelnuovo-145615">Professor Efrem Castelnuovo</a>, University of Melbourne
<a href="https://theconversation.com/profiles/deborah-ann-cobb-clark-729631">Professor Deborah Cobb-Clark</a>, University of Sydney
<a href="https://scholar.harvard.edu/ashley-craig/home">Assistant Professor Ashley Craig</a>, University of Michigan
<a href="https://theconversation.com/profiles/chris-edmond-673265">Professor Chris Edmond</a>, University of Melbourne
<a href="https://nisvanerkal.net/">Professor Nisvan Erkal</a>, University of Melbourne
<a href="https://theconversation.com/profiles/john-freebairn-90">Professor John Freebairn</a>, University of Melbourne
<a href="https://theconversation.com/profiles/renee-fry-mckibbin-673270">Professor Renée Fry-McKibbin</a>, Australian National University
<a href="https://theconversation.com/profiles/joshua-gans-399">Professor Joshua Gans</a>, University of Toronto
<a href="https://theconversation.com/profiles/jacob-k-goeree-562903">Professor Jacob Goeree</a>, UNSW Business School
<a href="https://theconversation.com/profiles/quentin-grafton-1941">Professor Quentin Grafton</a>, Australian National University
<a href="https://www.rse.anu.edu.au/about-us/our-people/people/?profile=Simon-Grant">Professor Simon Grant</a>, Australian National University
<a href="https://theconversation.com/profiles/pauline-grosjean-343133">Professor Pauline Grosjean</a>, UNSW Business School
<a href="https://theconversation.com/profiles/jane-hall-1280">Distinguished Professor Jane Hall</a>, University of Technology Sydney
<a href="https://theconversation.com/profiles/steven-hamilton-155869">Assistant Professor Steven Hamilton</a>, George Washington University
<a href="https://theconversation.com/profiles/ian-harper-8628">Professor Ian Harper</a>, Melbourne Business School
<a href="https://theconversation.com/profiles/richard-holden-118107">Professor Richard Holden</a>, UNSW Business School
<a href="https://research.monash.edu/en/persons/david-johnston">Professor David Johnston</a>, Monash University
<a href="https://theconversation.com/profiles/flavio-menezes-4124">Professor Flavio Menezes</a>, University of Queensland
<a href="https://theconversation.com/profiles/warwick-mckibbin-9129">Professor Warwick McKibbin</a>, Australian National University
<a href="https://economics.uchicago.edu/directory/simon-mongey">Assistant Professor Simon Mongey</a>, University of Chicago
<a href="https://theconversation.com/profiles/james-morley-9918">Professor James Morley</a>, University of Sydney
<a href="http://www.josephlyonmullins.com/">Professor Joseph Mullins</a>, University of Minnesota
<a href="https://findanexpert.unimelb.edu.au/profile/140028-abigail-payne">Professor Abigail Payne</a>, Melbourne Institute, University of Melbourne
<a href="https://theconversation.com/profiles/bruce-preston-452859">Professor Bruce Preston</a>, University of Melbourne
<a href="https://theconversation.com/profiles/sue-richardson-552530">Emeritus Professor Sue Richardson</a>, Flinders University
<a href="https://theconversation.com/profiles/stefanie-schurer-333154">Professor Stefanie Schurer</a>, University of Sydney
<a href="https://fbe.unimelb.edu.au/our-people/staff/economics/kalvinder-shields">Professor Kalvinder Shields</a>, University of Melbourne
<a href="https://theconversation.com/profiles/john-quiggin-2084">Professor John Quiggin</a>, University of Queensland
<a href="http://www.simonrquinn.com/">Associate Professor Simon Quinn</a>, Oxford University
Economic Advisor James Vickery, Federal Reserve Bank of Philadelphia
<a href="http://tomwilkening.com/">Professor Tom Wilkening</a>, University of Melbourne
<a href="https://theconversation.com/profiles/justin-wolfers-429743">Professor Justin Wolfers</a>, University of Michigan
<a href="https://lens.monash.edu/@yves-zenou">Professor Yves Zenou</a>, Monash University
<hr>
Full list of signatories available on the economists open letter <a href="http://covid19openletter.net/">website</a>.<img src="https://counter.theconversation.com/content/136686/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;">
<a href="https://theconversation.com/profiles/steven-hamilton-155869">Steven Hamilton</a>, Visiting Fellow, Tax and Transfer Policy Institute, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National University</a>; <a href="https://theconversation.com/profiles/bruce-preston-452859">Bruce Preston</a>, Professor of Economics, <a href="https://theconversation.com/institutions/university-of-melbourne-722">University of Melbourne</a>; <a href="https://theconversation.com/profiles/chris-edmond-673265">Chris Edmond</a>, Professor of Economics, <a href="https://theconversation.com/institutions/university-of-melbourne-722">University of Melbourne</a>, and <a href="https://theconversation.com/profiles/richard-holden-118107">Richard Holden</a>, Professor of Economics, <a href="https://theconversation.com/institutions/unsw-1414">UNSW</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/open-letter-from-174-australian-economists-dont-sacrifice-health-for-the-economy-136686">original article</a>.
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Open letter from 174 Australian economists: don’t sacrifice health for the economy

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EXPERT OBSERVER
<div id="post-body-4827528758440754749" class="post-body entry-content">
<div>Australia's recent figures on COVID-19 have been nothing short of remarkable.</div>
<div> </div>
<div>Lest you think that's an exaggeration, think back to what the medical experts were forecasting only one month ago, which was a tragically similar path to the worst hit countries. </div>
 <div>Yesterday, Australia ramped up the daily total in testing to a much larger 14,980, of which 42 tested positive, or 0.3 per cent. </div>
<div> </div>
<div>More than 411,000 tests have now been carried out nationwide. </div>
<div>
 Encouragingly the rate testing positive has continued to fall very consistently from 2.8 per cent on March 30 to just 0.3 per cent yesterday. </div>
<div>
 Greg Hunt noted this morning that total new confirmed cases have increased by under 1 per cent for each of the past seven days, resulting in a 'genuine and sustained flattening of the curve'.</div>
 <div class="separator"><a href="https://1.bp.blogspot.com/-XDEE0SHWHfM/XpuhfCrmNsI/AAAAAAAA1TY/Ilk9aBeQHF08UX8-dm6DThw4sleJO5ItwCNcBGAsYHQ/s1600/CV2.jpg"><img src="https://1.bp.blogspot.com/-XDEE0SHWHfM/XpuhfCrmNsI/AAAAAAAA1TY/Ilk9aBeQHF08UX8-dm6DThw4sleJO5ItwCNcBGAsYHQ/s640/CV2.jpg" width="640" height="366" data-original-height="805" data-original-width="1406"></a></div>
 <div>There were 10 new confirmed cases yesterday in New South Wales relating to two known clusters (Anglicare at Caddens in Western Sydney, and the Ruby Princess cruise ship). </div>
<div> </div>
<div>That result was from a very substantial 5,152 tests.</div>
<div> </div>
<div>Today Victoria reported just 9 new cases from 3,000 tests, and Queensland had only five new confirmed cases. North-west Tasmania has seen a cluster of cases related to hospitals, while elsewhere in the country numbers have fallen to zero, or very close to zero in recent days. </div>
 <div class="separator"><a href="https://1.bp.blogspot.com/-nqTokFlFV44/XpuhfAF0frI/AAAAAAAA1Tc/uG-qTZK6MgQMRfh6X_l8_4L7CqvcknDnQCNcBGAsYHQ/s1600/CV1.jpg"><img src="https://1.bp.blogspot.com/-nqTokFlFV44/XpuhfAF0frI/AAAAAAAA1Tc/uG-qTZK6MgQMRfh6X_l8_4L7CqvcknDnQCNcBGAsYHQ/s640/CV1.jpg" width="640" height="364" data-original-height="801" data-original-width="1407"></a></div>
 <div>Recoveries have comfortably exceeded new cases over the past week, and the number in ICU has almost halved, down by another 6 today to just 49 (versus the planned expanded capacity of 7,000), with 31 presently on ventilators. </div>
<div>
 Greg Hunt reported today that Australia has received some 60 million masks, which is 6 million than anticipated, and two weeks early than expected.</div>
<div> </div>
<div>Australia is 'the envy of the world' according to the government reports; let's hope it stays that way.</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
</div>
</div>
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Miraculous improvement in COVID-19 cases: Pete Wargent

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EXPERT OBSERVER
A payment of $750 will be made from the end of this month to about 6.5 million people as part of the government’s $17.6 billion stimulus package aimed at keeping Australia out of a recession caused by the impact of the coronavirus.
The one-off tax free payment will go to pensioners and others who receive income support, including those who get the family tax benefit - with pensioners numbering about half the beneficiaries.
The payment will cost $4.8 billion, and go out from March 31. Almost all payments are expected to be made by the middle of April, in an attempt to boost spending for the vital June quarter, which will be hit hard by the fallout from the virus.
<a href="https://theconversation.com/newsletter"><img src="https://images.theconversation.com/files/320030/original/file-20200312-116261-a6ugi0.png?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=90&amp;fit=crop&amp;dpr=2" alt="Sign up to The Conversation" width="100%"></a>
Putting cash in the hands of lower income earners is considered the fastest way to stimulate the economy, because they are most likely to spend it – although the health scare makes it trickier to predict how much people could save.
The wide-ranging package is skewed to helping small and medium sized businesses, with the government’s priority being to keep people in jobs. Three out of four dollars will be spent on initiatives to assist business.
These include payments of up to $25,000 for small and medium-sized enterprises (costing $6.7 billion), wage subsidies to support apprentices ($1.3 billion), a widening of the instant asset write off ($700 million), and the acceleration of depreciation deductions ($3.2 billion).
<img src="https://images.theconversation.com/files/320073/original/file-20200312-111253-lk2w82.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
 
A $1 billion fund will be directed to help for severely-affected regions and communities. This will include measures such as the waiver of fees and charges for tourism businesses that operate in the Great Barrier Reef Marine Park and Commonwealth National Parks. There will also be assistance for businesses to identify alternative export markets and supply chains.
To help people who need to access government sickness payments or are thrown out of work and require unemployment benefits, waiting times will be waived.
Scott Morrison highlighted the availability of the existing Commonwealth sickness payment, saying a casual employee who for medical reasons had to self-isolate, or who contracted the virus, and was unable to work, could access it.
Notably, the package does not contain anything for the tertiary education sector, despite it being severely affected by the travel ban on non-Australians from China, which sees tens of thousands of students stranded offshore. The government believes the universities generally have strong enough balance sheets to meet the situation.
The package will amount to 1.2% of GDP. Treasurer Josh Frydenberg said Treasury estimated the measures will add 1.5% to growth in the June quarter. Some $11 billion will go out before the end of June. The duration of measures is limited.
But Treasury has not yet been able to estimate the likely impact of the virus in the June quarter so, with the March quarter expected to be negative, it is unknown whether the economy will experience two quarters of negative growth, which would put it into recession.
The government now acknowledges the budget will be in deficit for this financial year. Finance Minister Mathias Cormann was blunt. “When you deliver a stimulus package of this size, I think people can add up the numbers. They can add up what it means in terms of the budget surplus. … This is not going to be a surplus year in 2019-20,” he told the ABC.
The package comes as the World Health Organisation declared the coronavirus a pandemic - something the Australian government had anticipated a fortnight ago - and the United States banned travellers arriving from Europe for the next 30 days.
Scott Morrison said the measures were “designed to support cash flow, boost investment and provide immediate demand stimulus to the Australian economy”.
The package has marked similarities to the Rudd government’s $10 billion first tranche stimulus in the global financial crisis, notably with its “cash splash” elements, although it is more targeted to business.
The prime minister will make an “address to the nation” at 7pm on Thursday.
The Australian Industry Group said the stimulus measures “will reduce the risk of a more severe downturn and the much worse budget outcome that it would bring”.<img src="https://counter.theconversation.com/content/133512/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;">
<a href="https://theconversation.com/profiles/michelle-grattan-20316">Michelle Grattan</a>, Professorial Fellow, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/cash-handout-of-750-for-6-5-million-pensioners-and-others-receiving-government-payments-133512">original article</a>.
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Cash handout of $750 for 6.5 million pensioners and more

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A Chermside West, Queensland mortgagee home has been sold for $450,000
It was most recently listed as a mortgagee sale for $475,000.
Last sold for $512,500 back in 2015, the latest sale price represents a $62,500 loss.
Zac McHardy of Harcourts marketed the property.
Situated at <a href="https://www.realestate.com.au/property-townhouse-qld-chermside+west-132954694" target="_blank">15/397 Trouts Road</a>, it is a three bedroom, two bathroom townhouse.
It is located in 'Hamilton 853', a "boutique complex of contemporary modern townhomes which... sold out very quickly when released in 2015," according to the marketing material.
Set on 155 sqm, the home was previously listed for a year starting in August 2018 for $498,000 - $520,000 which was reduced to "mid $400,000's" by the end of the campaign.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in Chermside West is $585,000, according to CoreLogic data.
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Chermside West, Queensland mortgagee home sold for $60,000 loss

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A Gosnells, West Australia mortgagee home has been sold for $225,000.
It was last listed for $250,000 before receiving an offer following an unsuccessful two year campaign.
The home was listed for $399,000 to $439,000 during the 2017-2019 marketing campaign.
Rick Rispoli of LJ Hooker marketed the three bedroom, two bathroom house.
Situated at <a href="https://www.realestate.com.au/property-house-wa-gosnells-132472226" target="_blank">22A Bert Street</a>, the home last sold for $380,000 in 2015.
Set on 935 sqm, the listing described the home as "suited for the savvy investor/developer" as it is zoned R30/R40.
Built in 1956, the home was listed as a rental seeking $220/pw in 2018.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in Gosnells is $276,000, according to CoreLogic data.
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Gosnells, WA mortgagee home sold for $150,000 loss

<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

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Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

Staff reporter

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