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GUEST OBSERVATION
Research shows public playgrounds don’t have the negative effect on property prices that some residents apparently fear. 
If you live near a public playground it can be a convenient outdoor destination for short excursions and a life-saving source of pressure relief when the kids are too surly to bear inside the house. But in <a href="https://crawford.anu.edu.au/files/uploads/crawford01_cap_anu_edu_au/2018-04/playgrounds_wp_march2018.pdf" target="_blank">research</a>, <a href="https://www.sciencedirect.com/science/article/pii/S0169204618301294" target="_blank">published in the Journal of Urban Landscape and Planning</a>, we found having a playground nearby can also add value to your property.
The presence of a playground added about A$20,000 (4.6%) to the average property price of A$439,000.
Importantly, we can reject the idea that a playground has no effect or a negative effect on property prices.
That’s something residents should consider if they fear a new playground to be built in their neighbourhood could lower property prices, as <a href="https://www.theage.com.au/national/victoria/no-screaming-kids-mount-eliza-residents-rise-up-against-new-playground-20180702-p4zp24" target="_blank">they did at Mount Eliza</a>, Victoria, last year.
What planners need to know
Local councils need to know the costs and benefits of building a playground when making decisions about investment in local infrastructure. If playgrounds are undesirable, they might avoid them altogether or place them far from where people live.
We wanted to know what value local residents might place on playgrounds using data from Moreland City Council in the north Melbourne metropolitan area.
One way to assess the value of playgrounds is simply to ask people. But we didn’t do that. We know people often over- or understate the value or cost of things in surveys because there is no real cost to pay.
We used ten years of every property price transaction in Moreland to try to measure the value people place on playgrounds. Property prices reflect the value people place on the attributes of a place they are buying.
These attributes include location (location, location) and things about the property such as the number of bedrooms and bathrooms. Prices also include the value people place on local amenities such as shops nearby or a train station within walking distance.
So how could we possibly work out the little bit of all that that’s about the distance to a playground?
Let’s build a model
First, we estimate a very detailed model of the determinants of property prices. This includes the type of dwelling, size, bedrooms, bathrooms, the presence of 19 different features such as balconies or spas, year and quarter of sale, and suburb.
We control for distance to a wide range of amenities including shops, schools and golf courses. Finally, we control for the distance to 14 different types of open space, including shared trails and community horticulture.
Moreland City Council provided us with the data on amenities and open spaces. With this model, we are able to explain about 70% of the variation in house prices.
With the help of Melbourne Water, we identified two empty green spaces (in Coburg North and Pascoe Vale) that were suitable for building a small local playground. These are the smallest of the five categories of playgrounds in Moreland City Council. They generally consist of a swing set, a slippery dip (slide) and small rocking animals. They are targeted at young children, ages three to six.
The second step is to match properties that are near the empty green spaces with properties that are similarly close to a playground.
After matching properties in this way and accounting for all of the determinants of property price in our model, we attribute any unexplained difference in the prices of the matched properties to the presence of the playground.
We found a consistently positive effect of local playgrounds on property prices. The benefit of a playground is larger when properties are closer, as the effect falls with distance from the playground.
For example, the presence of a playground within 300 metres adds about A$20,000 (4.6%) to the average property price. But our estimate is somewhat imprecise with the calculations showing it could be as low as A$10,000 or as high as A$30,000.
If we look at houses only the increase is A$32,000 (6.4% of the median house price of A$499,000), but again within a plausible range of A$8,000 to A$46,000.
A note of caution
Given the potential variation, are these price increase effects realistic?
My personal feeling is that A$20,000 seems on the large side. We may be picking up other unpriced attributes of properties that differ in the matched samples.
But we are dealing with a very rich set of characteristics and property attributes. We took several walks around the area to see whether anything was affecting our results. We could not identify anything.
Councils should see the need to consider the value of playgrounds in property prices as an important input into any cost-benefit analysis of investing in playground infrastructure.
Likewise, homeowners should not be worried (and object) to the construction of new playgrounds as they do not lower housing prices, rather they add to home value.<img src="https://counter.theconversation.com/content/127910/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/robert-breunig-167291">Robert Breunig</a>, Professor of Economics and Director, Tax and Transfer Policy Institute, <a href="http://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National University</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/that-public-playground-is-good-for-your-kids-and-your-wallet-127910">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Public playgrounds are good for your kids and your wallet: Robert Breunig

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GUEST OBSERVATION
The Australian Bureau of Agricultural and Resource Economics and Sciences 'farmpredict model' finds that changes in climate conditions since 2000 have cut farm profits by 22% overall, and by 35% for cropping farms.
The current drought across much of eastern Australia has demonstrated the dramatic effects climate variability can have on farm businesses and households.
The drought has also renewed longstanding discussions around the emerging effects of climate change on agriculture, and how governments can best help farmers to manage drought risk.
A new <a href="https://www.agriculture.gov.au/abares/publications/insights/effects-of-drought-and-climate-variability-on-Australian-farms" target="_blank">study</a> released this morning by the Australian Bureau of Agricultural and Resource Economics and Sciences offers fresh insight on these issues by quantifying the impacts of recent climate variability on the profits of Australian broadacre farms.
The results show that changes in temperature and rainfall over the past 20 years have had a negative effect on average farm profits while also increasing risk.
The findings demonstrate the importance of adaptation, innovation and adjustment to the agriculture sector, and the need for policy responses which promote – and don’t unnecessarily inhibit – such progress.
Measuring the effects of climate on farms
Measuring the effects of climate on farms is difficult given the many other factors that also influence farm performance, including commodity prices.
Further, the effects of rainfall and temperature on farm production and profit can be complex and highly location and farm specific.
To address this complexity, ABARES has developed a model based on more than 30 years of historical farm and climate data—<a href="https://www.agriculture.gov.au/abares/research-topics/working-papers/farmpredict">farmpredict</a> — which can identify effects of climate variability, input and output prices, and other factors on different types of farms.
Cropping farms most exposed
The model finds that cropping farms generally face greater climate risk than beef farms, but also generate higher average returns.
Cropping farm revenue and profits are lower in dry years, with large reductions in crop yields and only small savings in input costs.
<hr>
Effect of climate variability on rate of return
<a href="https://images.theconversation.com/files/307011/original/file-20191216-123998-16ibp5s.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/307011/original/file-20191216-123998-16ibp5s.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> <a class="source" href="https://www.agriculture.gov.au/abares/publications/insights/effects-of-drought-and-climate-variability-on-Australian-farms"> </a>
<hr>
In contrast, drought has a smaller immediate effect on beef farm revenue, because in dry years farmers can increase the quantity of livestock sold.
However, drought also <a href="https://www.mla.com.au/globalassets/mla-corporate/prices--markets/documents/trends--analysis/cattle-projections/august-update-australian-cattle-industry-projections-2019.pdf">lowers herd numbers</a>, which lowers farm profit when herd value is accounted for.
Higher temperatures, lower winter rainfall
Australian average temperatures have <a href="http://www.bom.gov.au/state-of-the-climate/">increased by about 1°C since 1950</a>.
Recent decades have also seen a trend towards lower <a href="http://www.bom.gov.au/state-of-the-climate/">average winter rainfall</a> in the southwest and southeast.
This drying trend has been linked to <a href="http://www.bom.gov.au/state-of-the-climate/">atmospheric changes associated with global warming</a>.
However, while global climate models <a href="http://www.bom.gov.au/state-of-the-climate/">generally predict</a> a decline in winter season rainfall across southern Australia and more time spent in drought, there is still much uncertainty about what will happen in the long term, particularly to rainfall.
Climate shifts have cut farm profits
ABARES has assessed the effect of climate variability on farm profits over the period 1950 to 2019, holding all other factors constant including commodity prices and farm management practices.
We find that the shift in climate conditions since 2000 (from conditions in the period 1950-1999 to conditions in the period 2000-2019) has had a negative effect on the profits of both cropping and livestock farms.
<hr>
Effect of 2000 - 2019 climate conditions on average farm profit
<a href="https://images.theconversation.com/files/307013/original/file-20191216-124031-15wtqlo.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/307013/original/file-20191216-124031-15wtqlo.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> 
<hr>
We estimate that the shift in climate has cut average annual broadacre farm profits by around 22%, which is an average of $18,600 per farm per year, controlling for all other factors.
The effects have been most pronounced in the cropping sector, reducing average profits by 35%, or $70,900 a year for a typical cropping farm.
At a national level this amounts to an average loss in production of broadacre crops of around $1.1 billion a year.
Although beef farms have been less affected than cropping farms overall, some beef farming regions have been affected more than others, especially south-western Queensland.
Like <a href="https://www.agriculture.gov.au/abares/research-topics/climate/farm-performance-climate">previous ABARES research</a> this study finds evidence of adaptation, with farmers reducing their sensitivity to dry conditions over time.
Our results suggest that without this adaptation the effects of the post-2000 climate shift <a href="https://agriculture.gov.au/effects-of-drought-and-climate-variability-on-Australian-farms">would have been considerably larger, particularly for cropping farms</a>.
<hr>
Effect of post-2000 climate on average annual farm profits
<a href="https://images.theconversation.com/files/307022/original/file-20191216-124027-s6o7s0.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/307022/original/file-20191216-124027-s6o7s0.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> <a class="source" href="https://www.agriculture.gov.au/abares/publications/insights/effects-of-drought-and-climate-variability-on-Australian-farms"> </a>
<hr>
Risk and income volatility have also increased
The changed climate conditions since 2000 have also increased risk and income volatility.
This is particularly so for cropping farms, where we find the chance of low-profit years has more than doubled as a result of the change in climate conditions.
<hr>
Effect of climate variability on typical cropping farm
<a href="https://images.theconversation.com/files/307023/original/file-20191216-124036-6vmj0y.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/307023/original/file-20191216-124036-6vmj0y.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> <a class="source" href="https://www.agriculture.gov.au/abares/publications/insights/effects-of-drought-and-climate-variability-on-Australian-farms"> </a>
<hr>
Handle with care – the drought policy dilemma
Drought policy faces an almost unavoidable dilemma, that providing relief to farm businesses and households in times of drought risks slowing industry structural adjustment and innovation.
Adjustment, change and innovation are fundamental to improving agricultural productivity; maintaining Australia’s competitiveness in world markets; and providing attractive and financially sustainable opportunities for farm households.
For these reasons, the strategic intent of drought policy has shifted away from seeking to protect and insulate farmers towards the promotion of drought <a href="https://www.agriculture.gov.au/ag-farm-food/drought/drought-policy/history">preparedness and self‑reliance</a>.
The best options for reconciling the drought policy dilemma focus on boosting the resilience of farm businesses and households to future droughts and climate variability, including through action and investment when farmers are not in drought.
The government’s <a href="https://www.agriculture.gov.au/ag-farm-food/drought/future-drought-fund">Future Drought Fund</a>, which will support research and innovation, is a good example of this approach.
Developing new insurance options is one worthwhile avenue of research which could provide farmers a way to self-manage risk. It would require investments in data and knowledge to support viable weather insurance markets: where farmers pay premiums sufficient to cover costs over time.
Supporting farm households experiencing hardship is legitimate and important, but for the long term health of the farm sector this needs to be done in ways that promote resilience and improved productivity and allow for long term adjustment to change.<img src="https://counter.theconversation.com/content/128860/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/neal-hughes-360453">Neal Hughes</a>, Senior Economist, <a href="http://theconversation.com/institutions/australian-bureau-of-agricultural-and-resource-economics-and-sciences-abares-3697">Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES)</a> and <a href="https://theconversation.com/profiles/steve-hatfield-dodds-202833">Steve Hatfield-Dodds</a>, Executive Director, <a href="http://theconversation.com/institutions/australian-bureau-of-agricultural-and-resource-economics-and-sciences-abares-3697">Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES)</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/new-study-changes-in-climate-since-2000-have-cut-australian-farm-profits-22-128860">original article</a>.
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Changes in climate since 2000 have cut Australian farm profits 22%

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GUEST OBSERVER
National, state and city governments aspire to increase prosperity through globally competitive and more liveable cities. Through “world class” infrastructure, buildings and public spaces they aim to increase a city’s competitive advantage in attracting investment and talent. <a href="http://www.pmjournal-digital.com/pmjournal/december_2017___january_2018/MobilePagedArticle.action?articleId=1244171#articleId1244171" target="_blank">Research</a> shows city governments, not states, nearly always deliver these projects overseas. The controversies in the Australian examples are largely the result of excluding local government.
Globally, mixed-use megaprojects have increasingly been seen as vehicles to make cities competitive as well as responding to local transport and housing issues. <a href="http://www.pmjournal-digital.com/pmjournal/december_2017___january_2018/MobilePagedArticle.action?articleId=1244171#articleId1244171" target="_blank">My research</a> for a forthcoming book, Mixed-Use Megaprojects and the Competition for Capital, examines such projects on government land in Sydney, Melbourne, New York and Copenhagen.
What do Australian cities do differently?
The research examined projects in terms of governance, narrative, urban form, connectivity and public benefit. The findings underscore the argument that <a href="https://www.sgsep.com.au/publications/whats-new/sgs-contributes-to-important-new-book-on-metropolitan-governance" target="_blank">state governments lack the structural capacity or nimbleness</a> to manage the subtle interplay of various place-based programs necessary to coordinate enablers of modern competitiveness.
Compared to developments overseas, the Australian examples have several things in common:
1. More property industry influence. 2. Less strategic coordination with other land assets and transport projects. 3. Less public benefit outcomes. 4. Less commitment to legislated planning frameworks. 5. Less engagement with local knowledge.
The Barangaroo development in Sydney is perhaps the archetype of these patterns.
Despite much <a href="https://theconversation.com/au/topics/barangaroo-4255" target="_blank">controversy over Barangaroo</a>, one thing can be agreed. The poor relationship between the city and state governments has contributed to a loss of trust in planning.
Excluding the city is not good policy
Firstly, this is a skills mistake. The city council has sophisticated capabilities and consistent place-based planning, design and approvals processes. These have been developed over decades.
The city also has established consultation processes and deep experience dealing with a range of stakeholders involved in inner-city development.
When the state intervenes to deliver a project and excludes the city, these processes and their advantages disappear.
Secondly, this is a political mistake. A sophisticated enemy is created that has working relationships with local stakeholders and constituents. With decades of planning work and expert knowledge disregarded, city governments are compelled to scrutinise the process and criticise the state from the sideline.
The City of Sydney appears to be winning the political, if not material, battle of Barangaroo. The <a href="https://meetings.cityofsydney.nsw.gov.au/mgUserInfo.aspx?UID=118">lord mayor</a> has outlasted seven state premiers in the project’s lifetime along with numerous measures intended to reduce lord mayoral efficacy.
But the battle is the problem and it’s sure to continue under current patterns of (non)rules. Consider the following examples.
The minister for planning is <a href="https://webarchive.nla.gov.au/awa/20110817021058/http://pandora.nla.gov.au/pan/142226/20130814-1220/www.barangaroo.com/media/43967/barangaroo+review+final+report+31+july+2011+compressed.pdf">free to make major changes to the plan without reference to any process</a>. This includes approving the <a href="https://www.theguardian.com/australia-news/2015/sep/30/the-rise-and-rise-of-barangaroo-how-a-monster-development-on-sydney-harbour-just-kept-on-getting-bigger">hotel-in-the-harbour</a> proposal even though it contravened state planning policy.
This ministerial power makes projects highly sensitive to political fluctuations. <a href="https://theconversation.com/all-the-signs-point-to-our-big-cities-need-for-democratic-metro-scale-governance-92417">Longer-term planning objectives</a> can be destabilised as a result.
The unsolicited proposal process has been another trust-breaker. Traditionally, government established the need for infrastructure within a metropolitan plan. It would call for tenders from the private sector, then evaluated those tenders in a competitive process. Now private sector participants are encouraged to approach government with development “ideas”.
A prime example <a href="https://www.parliament.nsw.gov.au/researchpapers/Documents/unsolicited-proposals/unsolicited%20proposals.pdf">involves the Crown Casino complex</a> at Barangaroo. This proposal required major changes to the approved plan. It more than doubled the allowable floor space of the previous hotel-in-the-harbour proposal it had been encouraged to replace <a href="https://webarchive.nla.gov.au/awa/20110817021058/http://pandora.nla.gov.au/pan/142226/20130814-1220/www.barangaroo.com/media/43967/barangaroo+review+final+report+31+july+2011+compressed.pdf">to restore trust in planning</a>.
What might city involvement look like?
The <a href="https://www.brookings.edu/research/copenhagen-port-development/">Copenhagen City &amp; Port Development Corporation</a> is an arm’s length delivery authority, owned 95% by Copenhagen municipality and 5% by the state. It is responsible for delivering a number of mixed-use megaprojects.
As with all city areas, Copenhagen municipality develops the “<a href="https://www.kk.dk/artikel/lokalplaner-trin-trin">Lokalplan</a>” for precincts under standard processes and approves individual buildings and public spaces. <a href="https://byoghavn.dk/nordhavn/">North Harbour</a> has been delivered as adopted in 2009.
In New York, a private developer has delivered the Hudson Yards project above state railyards under the city’s standard planning process (<a href="https://www1.nyc.gov/assets/planning/download/pdf/applicants/applicant-portal/lur.pdf">ULURP</a>). The state’s involvement is limited to the air rights lease.
This did not protect the Hudson Yards project from criticism. Nevertheless, it went through the lengthy standard consultative process and has been delivered according to the rezoning since 2005.
As an aside, the city governments of both European and US cases have adopted mandatory affordable housing laws. They are now delivering 25% in their megaprojects.
As an indulgence, let’s say we were in Copenhagen or New York. The <a href="https://www.theguardian.com/australia-news/2015/sep/30/the-rise-and-rise-of-barangaroo-how-a-monster-development-on-sydney-harbour-just-kept-on-getting-bigger">casino complex, hotel-in-the-harbour, or doubling of the site’s floorspace</a> would require revisiting the city’s Lokalplan or ULURP. This process would include public review and approvals by multiple city government agencies. In Sydney, one person, the state minister, decides on major changes to the plan.
This research shows the approaches needed to improve city competitiveness and fairness tend to be done better by city governments than by state governments. Yet in Australia the state has absolute control of these complex, city-based projects. Whether as part of a <a href="https://theconversation.com/metropolitan-governance-is-the-missing-link-in-australias-reform-agenda-55872">new metropolitan sphere of governance</a> or not, it is time to empower local city governments in the transformation of our cities.
<a href="https://theconversation.com/profiles/mike-harris-576619" target="_blank">Mike Harris</a>, Lecturer in Landscape Architecture and Urban Design, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/australian-cities-pay-the-price-for-blocking-council-input-to-projects-that-shape-them-127017" target="_blank">original article</a>.
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Australian cities pay the price for blocking council input to projects: Mike Harris

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GUEST OBSERVATION

A Victorian court decision that an Airbnb agreement had the status of a lease has profound implications for guests and hosts.

With summer holidays around the corner, many Victorians may be thinking about offering their homes through a home-share platform, such as Airbnb, while they get away themselves. Airbnb’s terms of service describe home-share arrangements as a “<a href="https://www.airbnb.com.au/terms" target="_blank">licence</a>”. Legally, a licence can be terminated at any time and a guest who does not leave is a trespasser.

However, in 2016 the <a href="https://www.propertyobserver.com.au/http://www6.austlii.edu.au/cgi-bin/viewdoc/au/cases/vic/VSC/2016/313" target="_blank">Victorian Supreme Court decided</a> home-share arrangements may constitute a lease. This decision indicates residential tenancy law may apply to all home-share arrangements where the host is away from the premises.

This would impose significant legal obligations on hosts, who would be regarded as landlords. Guests, if considered tenants, would have all the associated legal protections.

[smartcode_project:default project_id=8032]

For example, if a guest refuses to leave the premises, the host/landlord would have to follow the eviction process required by tenancy law. This has happened in <a href="https://www.businessinsider.com/airbnb-host-cant-get-squatter-to-leave-2014-7/commerce-on-business-insider/?r=AU&amp;IR=T" target="_blank">California</a>. Australian courts will eventually have to decide this issue.

How did the court arrive at its decision?

The court’s decision involved a tenant who offered the premises to guests on Airbnb. The court decided the tenant had breached the terms of the lease by subletting the premises. The tenant was evicted, as tenants cannot sublet without the landlord’s consent under <a href="http://www6.austlii.edu.au/cgi-bin/viewdoc/au/legis/vic/consol_act/rta1997207/s81" target="_blank">tenancy law</a>.

The court focused on the relationship between the tenant and the guest and determined that the host had given “exclusive possession” of the premises to guests. In Victorian tenancy law, exclusive possession is required to create a lease.

The court said it did not matter that each guest’s stay was only a few days, or that the Airbnb terms described the arrangement as a “licence” rather than a lease.

Although the court’s decision applied to tenants in this case, logically the decision applies to all whole-of-premises home-share arrangements, including where the host owns the premises. This is because the legal test for creating a lease is the same as that for creating a sublease.

The decision is controversial because home sharing on Airbnb is similar to boarding arrangements (where the host provides accommodation and services such as cleaning), hotel rooms and serviced apartments. These arrangements are usually regarded as a licence, not a lease. This is because the host has access to the property during the guest’s stay (for example, to do cleaning), so exclusive possession is not given to the guest.

In fact, Airbnb arrangements are unlike typical tenancy agreements. They specify check-in and check-out times, furniture, linen and towels are usually provided, and “house rules” (for example, on noise levels and smoking) may restrict the guest’s use of the premises.

In addition, Victorian residential tenancy laws <a href="http://www5.austlii.edu.au/au/legis/vic/consol_act/rta1997207/s10" target="_blank">do not apply to premises ordinarily used for holidays</a>. Potentially, this could exclude premises used for home sharing.

The situation may be different in other Australian states and territories, which, unlike Victoria, exclude from residential tenancies legislation agreements for the purpose of a holiday. However, not all home sharing is done for holiday purposes. For example, it’s also used for travel for business.

Legal uncertainty remains

The court’s decision means tenants who provide rented premises on Airbnb without the landlord’s consent may breach their own tenancy agreement and be evicted. However, the court stated that the particular circumstances of each case must be examined.

For example, hosts who provide only part of the premises (such as a bedroom and shared used of a kitchen) but who continue to reside in the premises will not be subletting. This is because they have not provided exclusive use of the premises.

However, if the host is away from the premises, then residential tenancy law may regulate home-share arrangements. This would give guests (now considered a tenant) stronger legal protections, including protection from eviction. The decision shows a court can ignore the description of the arrangement in an agreement if it determines exclusive possession has been provided.

Airbnb provides support to hosts and guests in the case of a dispute over a stay. It also provides compensation to hosts (akin to insurance) if guests damage the property or cause the host financial loss. However, if a host is found to have obligations under residential tenancy law, these obligations belong to the host/landlord, not to Airbnb.

The contentious aspect of the Supreme Court’s decision is its treatment of short-term hotel-like accommodation as a lease. However, it strongly suggests that <a href="https://www.propertyobserver.com.au/http://classic.austlii.edu.au/au/journals/AdelLawRw/2018/10">residential tenancy law may regulate</a> whole-of-premises home-share arrangements. That’s likely to come as a shock to Airbnb hosts - owners and renters alike.<img alt="The Conversation" height="1" src="https://counter.theconversation.com/content/128051/count.gif?distributor=republish-lightbox-basic" 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;" width="1">

<a href="https://theconversation.com/profiles/bill-john-swannie-161231">Bill John Swannie</a>, Lecturer in College of Law and Justice, <a href="http://theconversation.com/institutions/victoria-university-1175">Victoria University</a> and <a href="https://theconversation.com/profiles/chris-martin-203935">Chris Martin</a>, Research Fellow, City Futures Research Centre, <a href="http://theconversation.com/institutions/unsw-1414">UNSW</a>

This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/your-airbnb-guest-could-be-a-tenant-until-the-law-is-cleared-up-hosts-are-in-limbo-128051">original article</a>.
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Airbnb guests could be tenants: Until the law is clear hosts are in limbo

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The ACCC has announced an update on the timeline for the implementation and launch of the Consumer Data Right (CDR) in the banking sector, deferring the launch of certain aspects from February to July 2020.
Consumers will be able to direct major banks to share their credit and debit card, deposit account and transaction account data with accredited service providers from 1 July 2020. Consumers’ mortgage and personal loan data will be able to be shared after 1 November 2020.
The ACCC has formed the view that this updated timeline for these aspects of the CDR reforms will allow additional implementation work and testing to be completed and better ensure necessary security and privacy protections operate effectively.
“The CDR is a complex but fundamental competition and consumer reform and we are committed to delivering it only after we are confident the system is resilient, user friendly and properly tested,” ACCC Commissioner Sarah Court said.
“Robust privacy protection and information security are core features of the CDR and establishing appropriate regulatory settings and IT infrastructure cannot be rushed.”
The ACCC will make the CDR Rules in January 2020 that reflect this adjustment to the timetable, and will conduct further consultation regarding any consequential changes to other phases of the CDR.
The Consumer Data Right will give consumers the right to safely access data about them, held by businesses, and direct this information be transferred to trusted third parties of their choice.
Banking will be the first sector to which the CDR applies. The CDR will subsequently be rolled out sector-by-sector, with banking being followed by energy and telecommunications.
Data portability increases competition, particularly for more complex products and services, and allows businesses to make more tailored offerings to consumers.
The ACCC has been working closely for several months with the big 4 banks and the 9 entities selected to be the initial data recipients to test and refine the CDR ecosystem.
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Start date for bank sharing of consumer data details delayed

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Stockland has spent about $105 million for a house and land site in the Donnybrook precinct in Melbourne’s north.
Stockland chief executive of communities, Andrew Whitson, said the acquisition extended the company’s long-term presence in the northern growth corridor of Melbourne, one of the fastest expanding in Australia.
“The northern corridor will play a key role in the future economic and employment growth of Melbourne, and is expected to be home to over 260,000 people over the next 30 years.”
<a href="https://www.bigginscottland.com.au/975-donnybrook-road-vic-donnybrook-4998958/" target="_blank">It is an 89.5 hectare land parcel </a>one kilometre east of the train station, some 30 kilometres from the Melbourne CBD.
Stockland could expect about 1400 new homes, along with a school.
It is within the approved Donnybrook Woodstock Precinct structure plan.
Some of Australia’s largest developers including Mirvac, Stockland, Satterley &amp; Dennis family have nearby holdings.
The 975 Donnybrook Road holding is about five kms from Stockland's 1100 hectare Lockerbie sheep station, Kalkallo purchase in 2010 which is now emerging as Cloverton, Melbourne’s largest master-planned community, set to have 11,000 dwellings.
 
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Stockland spend $105 million on Donnybrook house and land site

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The creditors of collapsed apartment developer Ralan Group have voted to put its Arncliffe project into liquidation.
But off the plan buyers in its Ruby, Gold Coast towers have accepted a controversial plan that could see the company founder William O’Dwyer back in action. 
Under the proposal, Mr O’Dwyer and a yet-to-be-disclosed developer, will take control of the Ralan companies involved with the Gold Coast apartment projects. 
Ralan’s voluntary administrator, Grant Thornton’s Said ­Jahani advised against adopting the proposed revival.
At yesterday's final creditors’ meeting for The Ralan Group, Grant Thornton announced the results of the poll to either liquidate or accept the Deed of Company Agreement (DOCA) proposed by the director, Mr William O’Dwyer.
Class action lawyer Matthew Bransgrove twas reported by The Australian as noting O’Dwyer had been allowed to put forward a DOCA that was “vague in the ­extreme” and required the creditors to trust him yet again.
The majority of creditors voted in favour of the DOCA for the Gold Coast companies. The Ruby Collection in Surfers Paradise was proposed as 1600 apartments across four towers, along with the the nearby 670-unit Sapphire development. 
These companies now have 15 days to sign the Deed of Company Arrangement giving effect to the outcome of the vote.  
“As the creditors of the DOCA Entities (ie Gold Coast projects) have voted in favour of the DOCA, the onus will now be on the director, Mr O’Dwyer who proposed the DOCA to reveal the identity of the mystery developer, the location of future development sites and details of the discount mechanics for creditors to consider whether they wish to enter into new sale contracts,” Said Jahani, National Managing Partner Financial Advisory, stated.
It was a close vote.
For the 7 DOCA entities (relating to the Gold Coast projects), there were a majority in both value and number for DOCA and against liquidation for six of the entities. 
However, for one of the DOCA entities, Ralan Paradise No 2 Pty Limited there was a split vote meaning the chairman (Said Jahani) had a casting vote. 
For this entity: 112 creditors owed $60,307 voted for the DOCA but 103 (ie less) creditors owed $87,720 (ie more) voted against the DOCA. 
This vote was swayed by a single creditor with a claim of $63,000 who voted against the DOCA. 
Whilst Said Jahani recommended against the DOCA’s in the report to creditors, the Chairman’s casting vote was used to pass the resolution for the DOCA for this entity because:
1.      On a stand-alone basis there will not be any recoveries available to creditors in a liquidation for this entity.
2.      The total value of creditors in this entity are c. $382K and this equates to the value of unreleased deposits by purchasers in this entity. We currently hold in a trust account, cash of a similar value relating to the quantum of unreleased deposits from purchasers. Once these funds are returned (after allowing for costs), there will be a very small amount of creditor claims left in a liquidation. These funds will be returned regardless of whether this entity enters a DOCA or into liquidation.
3.      In casting a vote for the DOCA, the creditors who voted against the DOCA are not precluded from bringing a claim against Mr William O’Dwyer.
Jahani was conscious that the majority of creditors in the combined DOCA entities voted for the proposal - $93m (703 votes) versus $60m (570 votes).
“The Gold Coast entities all needed to vote in favour of the DOCA for it to proceed.
"Regardless of the case we made for liquidation it is the clear wish of the majority of creditors in these entities to proceed with the proposed DOCA.
"To allow this to happen, and in the knowledge that the creditors of the entity with the split vote will be no worse off, I cast my vote in favour of the DOCA for this single entity with the split vote,” Said Jahani, National Managing Partner Financial Advisory, stated.
The arrangement provides for a creditor who is owed $50,000 to purchase an apartment valued at $500,000 for $450,000.
Mr Jahani said the Australian Securities &amp; Investments Commission had been presented with Grant Thornton’s full report to assess any steps “in terms of disciplinary action or charges related to the sole director, William O’Dwyer”.
The majority of creditors voted in favour of liquidation for the Arncliffe company (Ralan Arncliffe Pty Limited). This company is now in liquidation, but is being built to completion.
The Ralan Group <a href="/news/william-odwyers-ralan-hits-voluntary-administration">went into administration in July</a> with debts of $500 million and five unfinished projects, with its mostly Australian-Chinese off the plan investors having signed contracts that released their deposits to the company in return for 15 per cent annual interest during construction.
It emerged the company had been <a href="/news/collapsed-ralan-group-was-insolvent-in-2014">trading insolvent since 2014.</a>
 
 
 
 
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Ralan Arncliffe liquidated but Ruby, Surfers Paradise lives on 

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The design for the relocated Powerhouse Museum has been selected with Moreau Kusunoki and Genton being the architects chosen to establish the first major museum to be based in Western Sydney.
The architectural vision for the museum has been selected following an international design competition which commenced in January 2019.
Minister for the Arts Don Harwin Geoff Lee said, to make the announcement. “the relocated Powerhouse Museum represents the largest investment in arts and culture infrastructure since the Sydney Opera House. Once this museum is built – there simply will not be another building like it in Australia – it will be a leading cultural institution in the South Pacific."
“The new Powerhouse will be a museum of applied arts and sciences that exemplifies how Sydney and Australia thinks about itself, its culture and our communities," 
The new museum will attract leading researchers, scientists and creatives from across Australia and around the world, while also providing ongoing opportunities for students from across NSW.
Moreau Kusunoki and Genton said, “We envisage the new Powerhouse Museum as a hyper-platform, a building with many functions and limitless potential."
"The building will tread lightly on the site, with the architecture opening up towards the river, providing generous public space and creating an open 24-hour precinct.”
The international architectural competition saw more than 74 entries received from 20 countries.
The SMH reports the Powerhouse Museum will need to raise $75 million from private philanthropists and corporations to meet the multi-million dollar cost of its new home.
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Moreau Kusunoki and Genton new Powerhouse Museum design chosen

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Housing data is continuing to show improvement from the low point was reached in April to May 2019, according to the ABS Lending to Households and Businesses data for October 2019 
Lending for the purchase or construction of a new home rose by 3.4 per cent in October.
Despite the improvement, lending remains 3.4 per cent lower than in the three months to October compared with the same time in 2018.
Tim Reardon, HIA’s Chief Economist said, "lending data and new home sales data both suggest that the market has improved since the middle of 2019."
“First home buyer activity remains strong despite the increase in house prices. First home buyer commitments rose by 1.4 per cent for the month of October and they now account for nearly 30% of all buyers."
“Stimulus measures, including interest rate cuts, tax cuts and the easing of APRA’s lending restrictions are having a positive impact on the housing market."
“If these conditions remain, the market will stabilise during 2020, at levels well below those experienced in recent years,” concluded Mr Reardon.
The number of owner occupier loans relating to new homes reached a 14-month high during October 2019.
 
<img src="https://www.urban.com.au/images/2019/12/17/ABS%20Lending.JPG" alt="">
Shane Garrett, Chief Economist, Master Builders Australia said, "there is also solid evidence that confidence has is returning to the investor side of the market with the value of lending on that side of the market up by 1.4% during October. Having declined for 11 straight months since mid-2018, investor lending has turned around registering increase during four of the past five months"
“Based on recent results around building approvals, house prices and lending, it does seem that people are optimistic about the prospects for the housing market in 2020. Activity is going to get a further boost in January with the activation of NHFIC’s First Home Loan Deposit Scheme,” he said.
“Managed properly, the clear improvement in housing market sentiment could help re-ignite confidence amongst consumers more widely and across the business community. The absence of optimism amongst these players is one of the main stumbling blocks for economic growth at the moment."
“The best way to build momentum is for the government to do everything it can to get new infrastructure projects rolling as early as possible. Building and construction projects are highly visible and represent the best way to signal to everyone that we are gearing up for a bright economic future,” Shane Garrett concluded.
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Housing finance market continues to strengthen: ABS

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A retail site on Burke Road in Camberwell has sold for $4,415,000.
The 205 sqm building at 769-771 Burke Road was purchased by a South Australian investor following a competitive auction that attracted six bidders.
The shop is located between the intersection of Burke, Riverside and Camberwell Roads and Camberwell train station, and adjacent to the Camberwell Place Shopping Centre.
It is currently leased to apparel retailer Lululemon Athletica.
CBRE’s Mark Wizel, Rorey James, Nick Hage and JJ Heng managed the campaign, with the property attracting a mix of domestic and international interest.
The purchase price translates to a building rate of $21,536 sqm, and follows the sales of 755 Burke Road for $5.05 million and 509-513 Riverside Road for $4.65 million.
Mr Wizel said, "we are expecting similar levels of demand and confidence in CBRE’s remaining retail opportunities in the build-up to Christmas."
“The current low interest rates and reduced supply of quality retail opportunities through the first half of 2019 has resulted in a flight to quality from investors seeking an alternative to declining term deposit rates,” he concluded
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Burke Road, Camberwell shop sold for $4.4 million

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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.

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.

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.

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.

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.

[smartcode_project:default project_id=5743 project_image_fid=372394]

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.

"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.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

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.

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.

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.

[smartcode_project:default project_id=5743 project_image_fid=925]

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.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"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."

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.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

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.

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.

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.

"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."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

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.

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.

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.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"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."

<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" />

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.

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.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"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.

"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."

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.

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>.

Staff reporter

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