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A luxury Bardon home in inner Brisbane has sold for more than $7.5 million in just 10 days.
The suburb record smashing near new build designed by architect Shaun Lockyer had a guide of $7 million plus.
The Nestor Avenue home previously traded as an original 1950s home designed by architect Neville Lund on 4,240 sqm, land that was originally owned by the Stuartholme Convent, for $2.3 million in 2013.
<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/2019/11/13/The%20Nest%20Bardon%202.jpg" alt="">
Lockyer was called in to design the luxury five bedroom home dubbed The Nest that was completed in 2016.
The five bedroom home draws its inspiration from modern roots, expressed through the juxtaposition of heavy vertical and light horizontal planes highlighting itself as an amazing representation of sub-tropical architecture.
<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/2019/11/13/The%20Nest%20Bardon%203.jpg" alt="">
It incorporates fine, elegant lines, sandblasted concrete, Spotted Gum timber and floor-to-ceiling glass.
The five bedrooms are located on one side of the property, the master suite complete with its own walking wardrobe and bathroom.
<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/2019/11/13/The%20Nest%20Bardon%204.jpg" alt="">
The open plan kitchen, living and dining space opens to the swimming pool. There's also a gym, 1000 bottle wine cellar and a tennis court in the grounds.
The former Bardon record has stood since 2016 when a five bed home sold for $4.55 million.
 
 
 
 
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j.ballantyne1990-6AQqhLzZaK

The Nest, the Shaun Lockyer-designed Bardon home, sells for over $7.5 million

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A vacant possession industrial premises located at Thomastown, Victoria has been sold at auction.
The 568 sqm building at 82 Lipton Drive attracted over 30 enquiries. 
There were 19 bids taken between two bidders.
 The property was purchased for $820,000 by an owner occupier, $70,000 above reserve. 
This result equates to a building rate of $1,443.66/sqm and a land rate of $950.17/sqm for the 863sqm site.
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Situated off Mahoneys Road, this location provides easy access to major roads and arterials including being under 3km from Hume Highway, 2.5km from the M80 Ring Road and its associated linkages to the Tullamarine Freeway, Hume Freeway and West Gate Freeway.
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It was sold by Craig McKellar and Oliver Price of CVA.
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Thomastown industrial building sold for $820,000

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GUEST OBSERVATION
Sydney’s Macquarie University <a href="https://www.smh.com.au/national/zero-growth-enrolment-troubles-force-university-to-make-budget-cuts-20191101-p536mc" target="_blank">announced budget cuts</a> in recent days, due to “zero growth” in enrolments next year.
Vice-Chancellor Bruce Dowton reportedly wrote a letter to staff announcing the cuts, which included a hiring freeze. The letter said:
"Enrolment growth domestically and internationally has slowed significantly at a time when our base operating costs continue to rise […] Current projections are that there will be zero growth in load [full-time student numbers] in 2020."
This <a href="https://www.afr.com/policy/health-and-education/unis-risk-catastrophic-hit-due-to-reliance-on-china-20190820-p52ivu" target="_blank">comes a few months</a> after a report from the Centre for Independent Studies warned Australia’s universities were in for a “catastrophic” financial hit due to their over-reliance on international students from China.
Macquarie has been hit harder than most other universities, but many universities are finding it more difficult to recruit students than they did a few years ago. New domestic enrolments are in a mild recession. And although international student numbers are still growing, demand from Chinese international students has stabilised.
No increase in school leavers wanting university
In 2018, the number of students starting a bachelor degree <a href="http://highereducationstatistics.education.gov.au/" target="_blank">fell for the first time since 2003</a>. Of Australia’s 37 public universities, 23 took fewer new bachelor-degree students in 2018 than 2017.
Enrolments are expected to be down again in 2019, following a drop <a href="https://www.education.gov.au/undergraduate-applications-offers-and-acceptances-publications" target="_blank">in applications</a>. Commencing domestic postgraduate student numbers peaked several years ago.
In a sector used to growth, a downturn causes problems.
Since a Commonwealth <a href="https://www.brisbanetimes.com.au/politics/federal/universities-warned-against-regional-cuts-as-turnbull-government-strips-22-billion-from-budget-20171218-h06i24" target="_blank">funding freeze announced in late 2017</a>, universities have not had strong financial incentives to enrol additional students. But this is not the main reason for falling enrolments. The issue is weak demand more than reluctant supply.
Demand for higher education is influenced by the population of potential applicants. Recent school leavers are the biggest bachelor-degree market. The number of year 12 school students fell slightly in 2018, mostly due to a downward trend in babies born 17 years previously.
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Birth and forecast population trends suggest year 12 student numbers will increase by only 1-2% in the next couple of years. So domestic demand for higher education from school leavers should stay close to current levels.
Mature-age students also affect enrolments
To date, <a href="https://andrewnorton.net.au/2019/10/29/has-the-university-funding-freeze-caused-commencing-enrolments-to-fall/" target="_blank">mature-age students are the principal cause</a> of falling commencing bachelor-degree enrolments. But the number of non-year 12 applicants new to higher education is not trending down. For the last few years their applications have fluctuated in a narrow range.
The drop in demand is driven by people who have been to university before. Possibly, <a href="https://theconversation.com/labor-wants-to-restore-demand-driven-funding-to-universities-what-does-this-mean-116060" target="_blank">more student places under demand-driven funding</a> triggered a boom in course switching and former students returning, which has now subsided.
Former students are also affecting the domestic postgraduate market. The number of people who already have a degree, which makes them eligible for postgraduate study, <a href="https://andrewnorton.net.au/2019/09/12/migration-has-outpaced-demand-driven-funding-as-a-source-of-additional-graduates/" target="_blank">is at record levels</a>. But domestic postgraduate coursework commencements peaked in 2014 <a href="https://www.propertyobserver.com.au/https://twitter.com/andrewjnorton/status/1188684271843606529/photo/1" target="_blank">and have declined since</a>.
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This is not an isolated trend. All types of structured education for <a href="https://andrewnorton.net.au/2019/10/18/the-changing-nature-of-work-training-further-evidence-and-puzzles/" target="_blank">people already in the workforce are in</a> <a href="https://andrewnorton.net.au/2019/09/26/contrary-to-expectations-reskilling-and-retraining-seem-to-be-in-decline/">decline</a>. It’s likely <a href="https://andrewnorton.net.au/2019/10/15/the-popularity-of-online-self-education/" target="_blank">online self-education is taking market share</a>.
What about international enrolments?
The story is very different in the international-student postgraduate market, which is growing rapidly. In 2018, for the first time ever, more international students <a href="https://www.propertyobserver.com.au/https://twitter.com/andrewjnorton/status/1188676824387051520/photo/1" target="_blank">started a postgraduate than an undergraduate course</a> in Australia.
Despite some soft international markets, the overall trend is up. The <a href="https://internationaleducation.gov.au/research/International-Student-Data/Pages/InternationalStudentData2019.aspx" target="_blank">most recent data</a>, which take us to August 2019 and cover all levels of higher education, show commencing enrolments are 7% higher than at the same time in the previous year.
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<a href="https://data.gov.au/dataset/ds-dga-324aa4f7-46bb-4d56-bc2d-772333a2317e/details?q=student%20visa" target="_blank">Student visa applications</a>, which go up to September this year, suggest overall demand continues to increase modestly. But we should wait until later in the year before drawing firm conclusions.
A key cause of enrolment increases is India’s rapid rise. Commencing Indian student enrolments have <a href="https://internationaleducation.gov.au/research/International-Student-Data/Pages/InternationalStudentData2019.aspx" target="_blank">more than doubled since 2016</a>. Although China remains the largest source of international students, new Chinese enrolments have stabilised this year.
International student issues could cause numbers to fall
Given enrolment and visa trends, total international student enrolments will increase in the short term. But there are many concerns about this industry, including <a href="https://andrewnorton.net.au/2019/09/18/how-bad-is-the-international-student-english-language-problem/" target="_blank">English language standards</a>, <a href="https://www-tandfonline-com.ezp.lib.unimelb.edu.au/doi/full/10.1080/03075079.2018.1462788" target="_blank">cheating</a>, <a href="https://issuu.com/nteu/docs/sotus_2017_report_1_overview" target="_blank">soft marking</a>, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/4corners/red-flags/11601456" target="_blank">Chinese political interference</a>, university financial <a href="https://www.afr.com/policy/health-and-education/auditors-general-warn-again-over-reliance-on-international-students-20190602-p51tnh" target="_blank">over-reliance on international students</a>, <a href="https://www.smh.com.au/opinion/tackling-the-exploitation-of-international-student-workers-20150818-gj1ge3" target="_blank">labour market exploitation of students</a>, and <a href="https://theconversation.com/australias-temporary-graduate-visa-attracts-international-students-but-many-find-it-hard-to-get-work-in-their-field-123997" target="_blank">poor graduate outcomes</a>.
There are also broader issues of <a href="https://tapri.org.au/wp-content/uploads/2019/04/Overseas-students-are-driving-NOM-final-18-April-2019.pdf" target="_blank">international students driving up migration numbers</a>, as well as questions of whether we want a large proportion of the population living with <a href="https://www.textpublishing.com.au/books/not-quite-australian" target="_blank">limited political and welfare rights</a>.
<a href="https://www.stawelltimes.com.au/story/5964043/pm-morrison-hits-pause-on-migrant-intake/" target="_blank">Population issues</a> contributed to a <a href="https://campusmorningmail.com.au/news/the-international-education-regional-visa-scheme-is-working" target="_blank">rule change</a> to attract international students away from congested big cities to regional and minor city locations. I expect further regulatory changes and market reactions to international education issues to eventually cause a decline in numbers.
University luck might be about to run out
For universities addicted to international student dollars any enrolment decline is bad news. But universities have a history of luck. As international student numbers dropped a decade ago, domestic enrolments boomed. And as domestic numbers flattened in recent years, the international market took off.
As the domestic demography chart above suggests, there is potential for big increases in Australian undergraduates in the mid-2020s, as the mid-2000s baby boom children reach university age.
There is, however, a major obstacle to that scenario: with the end of demand-driven funding, there will be <a href="https://andrewnorton.net.au/2019/08/27/will-the-number-of-commonwealth-supported-student-places-fall/" target="_blank">no money to pay for those extra students</a>. Federal Education Minister Dan Tehan has <a href="https://ministers.education.gov.au/tehan/afr-higher-education-summit" target="_blank">acknowledged the problem</a> but so far has no solution.
Without one, the future contains major risks. Universities could have falling enrolments for both domestic and international students. This will mean staff cuts and less money for research.
And the people born in the mid-2000s could be part of an unlucky generation in which <a href="https://andrewnorton.net.au/2019/04/29/young-people-were-less-likely-to-enter-higher-education-in-the-years-after-whitlam-than-before-demography-and-deficits-were-against-them/" target="_blank">population growth collides with budget constraint</a>. Their chances of finding a university place will be lower than for people born in earlier decades.<img src="https://counter.theconversation.com/content/126342/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;">
Andrew Norton, Honorary fellow, University of Melbourne.
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/enrolments-flatlining-australian-unis-financial-strife-in-three-charts-126342" target="_blank">original article</a>.
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Enrolments flatlining: Australian unis’ financial strife in three charts

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GUEST OBSERVATION 
Feeling lonely? A dog may help. Our research out today confirms what many dog owners already know: dogs are great companions that can help you to feel less lonely.
Cuddles and slobbery kisses, meeting other dog owners in the park and a general lift in mood all likely help.
But our study, published today in <a href="https://bmcpublichealth.biomedcentral.com/articles/10.1186/s12889-019-7770-5" target="_blank">BMC Public Health</a>, found dogs didn’t affect psychological distress, the type seen in depression and anxiety.
Why are we studying this?
<a href="https://animalmedicinesaustralia.org.au/report/pets-in-australia-a-national-survey-of-pets-and-people/" target="_blank">Almost two in five Australian households own a dog</a>. And although most dog owners will assure you, in no uncertain terms, their dog is a source of sheer happiness, scientific evidence is lacking.
Most previous studies have compared the mental well-being of dog owners to non-owners at a single point in time. The problem with these studies is they cannot tell if dogs actually make us happier, less lonely or less stressed. They also cannot tell us if dog owners are simply in a more positive state of mind in the first place.
So, in this study, we measured mental well-being at three points in time: before owning a dog, three months after owning a dog and eight months after owning a dog.
What did we do?
<a href="https://sydney.edu.au/charles-perkins-centre/our-research/current-research/physical-activity-exercise-and-energy-expenditure/dog-ownership-and-human-health" target="_blank">Our study</a>, known as the PAWS trial, involved 71 Sydney adults who were separated into three groups:
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<li>people who bought a dog within one month of starting the study</li>
<li>people who were interested in getting a dog in the near future but agreed not to get one during the study, and</li>
<li>people who had no interest in getting a dog.</li>
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People filled out surveys to measure their mood, loneliness and symptoms of psychological distress at the three different time-points. We then compared the mental well-being of the groups at the beginning of the study, to the mid-point and to the end-point.
Here’s what we found
New dog owners felt less lonely after they got a dog compared to the other two groups. The effect happened quite quickly, within three months of acquiring a dog. There was no further decrease in loneliness between three months and eight months.
We also found some evidence that dog owners had fewer negative emotions, such as nervousness or distress, within three months of getting a new dog but this finding was not as clear cut.
We found that symptoms of depression and anxiety were unchanged after acquiring a dog. Maybe the dog owners in our study already had low levels of psychological distress before they got a dog, so dog ownership didn’t lower these levels any further.
What does it all mean?
There are lots of possible reasons dogs can help to lessen feelings of loneliness. We know having a quick cuddle with a dog <a href="https://www.tandfonline.com/doi/abs/10.1080/08927936.2015.1070008" target="_blank">boosts people’s mood in the short-term</a>. Maybe daily dog cuddles can also boost owners’ mood in the long-term which could help to lower feelings of loneliness.
Dog owners may also meet new people through their dog as <a href="https://www.propertyobserver.com.au/https://onlinelibrary.wiley.com/doi/abs/10.1348/000712600161673" target="_blank">people are more likely to talk strangers if they are accompanied by a dog</a>. In our study, dog owners also said they had met new people in their neighbourhood because of their dog.
So far, there have only been two similar studies to look at mental well-being in new dog owners, one of which was conducted almost 30 years ago.
Of these studies, one found dog owners had <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/1774745" target="_blank">fewer symptoms of psychiatric disorders</a> after they acquired a dog. The other study found <a href="https://www.tandfonline.com/doi/abs/10.2752/089279307X245473" target="_blank">no difference in loneliness</a> after people brought a new dog home.
Dogs may also improve our <a href="https://ahajournals.org/doi/full/10.1161/cir.0b013e31829201e1" target="_blank">physical health</a>, by reducing blood pressure, improving cardiovascular health and increasing the amount of physical activity their owners perform. But, as is the case with mental well-being, the scientific evidence is still limited.
So, what happens next?
One of the things our study cannot determine is how dogs affect men’s mental well-being. By chance, all the new dog owners in our study were women. So, we don’t know whether dogs affect men’s mental well-being in a different way to women’s.
Our next step is to look at mental well-being in a much bigger group of new dog owners to confirm these findings. A bigger study could also provide more insight into the relationship between dog ownership and mental illness, such as depression and anxiety.
If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14.<img src="https://counter.theconversation.com/content/125495/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;">
Lauren Powell, PhD candidate, University of Sydney.
Emmanuel Stamatakis, Professor of Physical Activity, Lifestyle, and Population Health, University of Sydney.
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/dogs-really-can-chase-away-loneliness-125495" target="_blank">original article</a>.
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Dogs really can chase away loneliness

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GUEST OBSERVATION
Australia was already <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/44609144?seq=1#page_scan_tab_contents" target="_blank">one of the most urbanised nations</a> by the end of the 19th century. Unlike European and North American countries, Australia’s pattern of settlement did not have a neat urban hierarchy. The gap between the large and small towns was huge.
These patterns have intensified in the decades since federation, especially after the second world war. International and internal <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/3218.0" target="_blank">migration trends have driven rapid growth</a> in the big cities, especially Melbourne and Sydney. This has created major problems with providing adequate <a href="https://theconversation.com/housing-policy-reset-is-overdue-and-not-only-in-australia-112835" target="_blank">housing</a>, <a href="https://theconversation.com/congestion-busting-infrastructure-plays-catch-up-on-long-neglected-needs-114598" target="_blank">infrastructure</a> and <a href="https://theconversation.com/some-suburbs-are-being-short-changed-on-services-and-liveability-which-ones-and-whats-the-solution-83966" target="_blank">services</a>.
The fundamental issue is the reluctance of urban communities and their leaders to discuss what might be sustainable populations.
The folly of unlimited growth
No Australian city has a long-term vision showing how a future stabilised population might be supported with the essential resources of food, water and energy. No Australian city has faced up to the inevitable social tensions of <a href="https://theconversation.com/what-did-the-rich-man-say-to-the-poor-man-why-spatial-inequality-in-australia-is-no-joke-73841" target="_blank">increasing inequality</a> between a well-served inner-urban elite and an increasingly under-resourced urban fringe.
Leaders in cities that have not grown as rapidly, such as Adelaide, <a href="https://www.news.com.au/finance/economy/australian-economy/as-the-east-coast-struggles-with-population-numbers-south-australia-is-desperate-for-a-boost/news-story/5ebca065ebe3f975ed83827d2373db37" target="_blank">lament their failure to grow like Sydney and Melbourne</a>, despite all the associated problems. All implicitly believe unlimited growth is possible.
In reality, the expanding ecological footprints of the large cities have created unsustainable demands on land to support urban dwellers. And the wastes the cities produce are straining the capacity of the environment to handle these.
Given the many unpriced flow-on effects from dense urban growth and market-led development, governments are struggling to deal with the undesirable consequences. <a href="https://theconversation.com/australian-city-workers-average-commute-has-blown-out-to-66-minutes-a-day-how-does-yours-compare-120598" target="_blank">Congestion</a> and <a href="https://theconversation.com/walking-mightnt-be-good-for-you-if-its-through-australias-polluted-city-streets-88772" target="_blank">pollution</a> threaten to overwhelm the many social and economic benefits of urban life.
The growth and concentration of populations are also driving chronic excess demand for appropriate housing. The result is <a href="https://theconversation.com/affordable-housing-lessons-from-sydney-hong-kong-and-singapore-3-keys-to-getting-the-policy-mix-right-123443" target="_blank">serious affordability problems</a>, which are adding to inequality across society and generations.
In 1970, urban historian <a href="https://theaimn.com/book-review-ideas-for-australian-cities-by-hugh-stretton/" target="_blank">Hugh Stretton pointed</a> to the role of Australia’s widespread owner occupation in offsetting the inequalities generated in labour markets and by inherited wealth. This is no longer the case.
The dominant neoliberal economic ideology has resulted in a <a href="https://theconversation.com/australia-needs-to-reboot-affordable-housing-funding-not-scrap-it-72861" target="_blank">retreat from providing public housing</a>. Abandoning would-be home-owners to the market has produced a situation in which urban land and house ownership is <a href="https://theconversation.com/how-the-housing-boom-is-remaking-australias-social-class-structure-66976" target="_blank">reinforcing class-based inequalities</a>. Home ownership is increasingly the preserve of the affluent and their children.
Housing-related inequality is also seen in the geography of our cities. <a href="https://theconversation.com/city-by-city-analysis-shows-our-capitals-arent-liveable-for-many-residents-85676" target="_blank">Poorer households are priced out of locations with better access</a> to good jobs, schools, transport, health care and other services.
Failures of governance
Governments in Australia’s federation are poorly placed to respond adequately. <a href="https://theconversation.com/metropolitan-governance-is-the-missing-link-in-australias-reform-agenda-55872" target="_blank">Responsibilities and fiscal resources are divided</a>, creating obstacles to effective planning and infrastructure provision.
The main factor driving urban population growth is an unprecedented <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1617/Quick_Guides/MigrationStatistics" target="_blank">rate of inward migration</a>. The national government <a href="https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels" target="_blank">sets large migration targets</a> as an easy way of creating economic growth. This leaves state governments with the impossible task of meeting the resulting demand for infrastructure.
Jane O’Sullivan <a href="/news">has shown</a> each extra urban citizen requires about A$250,000 of investment. The total sum is well beyond the capacity of state and local governments.
Arguments between federal and state governments are heavily politicised, especially when it comes to major transport investments. Even within single jurisdictions, complex demands and unexpected consequences prevent effective action. The <a href="https://theconversation.com/the-recycling-crisis-may-be-here-to-stay-112055" target="_blank">waste recycling crisis</a> is a prime example.
State governments must also deal with difficult trade-offs between, for example, allowing further <a href="https://theconversation.com/living-liveable-this-is-what-residents-have-to-say-about-life-on-the-urban-fringe-111339" target="_blank">development on the edges of cities</a> or <a href="https://theconversation.com/becoming-more-urban-attitudes-to-medium-density-living-are-changing-in-sydney-and-melbourne-84693" target="_blank">encouraging higher density in built-up areas</a>. This often involves <a href="https://theconversation.com/vested-interests-behind-city-shapers-often-subvert-higher-density-policies-74244" target="_blank">conflicts</a> with local governments and communities, concerned to protect their ways of life.
Australian planners and governments have long tinkered with <a href="https://theconversation.com/making-small-cities-bigger-will-help-better-distribute-australias-25-million-people-101180" target="_blank">policies to encourage decentralisation to smaller cities</a>. Despite these attempts, the dominant pattern of urbanisation with its seemingly intractable problems has hardened, a triumph of reality over rhetoric.
What needs to change?
To get beyond the rhetoric and make our cities more sustainably liveable requires a much more deliberate and interventionist role for government. It also requires residents of our cities and suburbs to be willing to allow their governments to interrupt business as usual.
This, we know from experience, is a big ask. It will step on the toes of the <a href="https://theconversation.com/housing-policy-is-captive-to-property-politics-so-dont-expect-politicians-to-tackle-affordability-55384" target="_blank">property lobby</a> and ordinary home owners. In some cases, for example, the short-term financial interests of property owners are leading local authorities to ignore scientific warnings about the impacts of climate change on coastal development.
Major changes are also needed in how urban land is taxed and the proceeds invested. “Simple” reforms like <a href="https://theconversation.com/the-way-australia-taxes-housing-is-manifestly-unfair-58421" target="_blank">replacing stamp duty on land transfer with a universal land tax</a>, as the <a href="http://www.taxreview.treasury.gov.au/content/Content.aspx?doc=html/home.htm" target="_blank">Henry Tax Review</a> recommended, will take political courage that has been absent to date.
More complex policies like finding ways of diverting population growth to non-metropolitan regions will take careful thought and experimentation. This might include relocating government agencies to provincial cities. This has been tried sporadically in the past at the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-04-19/decentralisation-push-for-federal-government-departments/8453816" target="_blank">federal</a> level and in states such as <a href="https://www.theguardian.com/australia-news/2017/may/04/victorian-public-service-jobs-to-move-to-ballarat-and-latrobe-valley" target="_blank">Victoria</a> and <a href="https://psa.asn.au/wp-content/uploads/2013/01/NSW-Decentralisation-Taskforce-Report-April-2013-FINAL.pdf" target="_blank">New South Wales</a>. However, such cases tend to be one-offs and do not reflect an overall strategic plan.
Future generations will inevitably be critical of the complete failure of current leaders to plan for sustainable development.<img src="https://counter.theconversation.com/content/123916/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;">
Mike Berry, Emeritus Professor, RMIT University.
Ian Lowe, Emeritus Professor, School of Science, Griffith University.
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/no-australian-city-has-a-long-term-vision-for-living-sustainably-we-cant-go-on-like-this-123916" target="_blank">original article</a>.
This article is part of a series on rebalancing the human–nature interactions that are central to the study and practice of ecological economics, which is the focus of the 2019 ANZSEE Conference in Melbourne later this month.
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No Australian city has a long-term vision for living sustainably. We can’t go on like this

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There has long been a vigorous debate about the many and varied reasons why electricity prices in Australia are so high. 
An <a href="https://www.accc.gov.au/regulated-infrastructure/energy/electricity-supply-prices-inquiry/final-report" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.15999984741211px;">ACCC review</a> found retail electricity markets mostly do not work in the interests of the customer – but this is only part of the story.
Another commonly accepted theory assumes that long-term customers of an electricity retailer pay a “loyalty tax” while those who switch every year save money.
But <a href="https://docs.wixstatic.com/ugd/cb01c4_8babedb580d44ca080fefea8b2ae8b0b.pdf" target="_blank">our research</a> has found that Victorians who switch their energy providers typically save less than A$50 a year. This challenges the common understanding of how these markets work.
<h2>Questioning common wisdom</h2>
Working from the assumption that seeking better deals can save households significant amounts, governments throughout Australia have encouraged customers to switch retailers often. Switching rates in Australia are actually very high, especially so in Victoria.
To test how well the theory matches reality, the Victorian government provided my colleagues and I with 50,000 real electricity bills uploaded by Victorian households to the government’s price comparison website in late 2018. (These households agreed their bills could be used for research purposes and bill uploads were voluntary.)
Our sample is reasonably representative of the population, although we think these customers may be a little more engaged with the energy market than typical Victorians.
What we found challenges the commonly accepted theory of how the retail market works. As it turns out, for most customers, switching retailers does not greatly reduce the amount of money they leave on the table (the difference between their annual bills and the market’s best offers).
The typical customer that has not switched energy retailers in the last year could have saved A$281 per year (about 20% of their bill) if they had signed up to the best possible deal.
 
But in reality, customers that did switch retailers in the last year saved only A$45 a year, or about 3% of their annual bill. This suggests that customers are not switching to the best possible deals. A A$45 saving is not a great reward for the time and effort they would have spent searching and then switching.
The first reaction of many economists to our finding would be that the retail market is working: the competitive pressures from switchers shows profits have been competed away and there is now little to be gained from switching.
From this perspective, those who did not switch could rest easy that the market was working for them. This is, after all, how many markets work. I am often amazed at the quality of many things I buy, and their prices that fall without me having to do anything to bring it about.
However, this does not seem to be the full picture in the electricity market. All customers, switchers and remainers, are typically paying some 20% more than the cheapest available option.
And it’s not that there are just one or two fantastic deals that customers are missing – there is a good number of much cheaper deals that they are not finding.
We also cannot assume customers are looking for other qualities, like customer service, instead of lower prices: saving money is by far the main reason customers switch.
<h2>Why is this happening?</h2>
Our finding begs an explanation. We suggest it starts with the observation that while electricity is extremely valuable, it’s just a utility. While people get pleasure from buying many things, electricity is certainly not one of them. Quite understandably, most customers want to spend as little time as possible engaging in electricity markets.
Many offers are also eye-wateringly complex. Large businesses fare far better than households in the energy market, through the simple but costly method of hiring professional consultants to find the best deals.
So, we have a complex product that requires skill to buy well but customers are, quite rationally in most cases, reluctant to spend the time acquiring those skills. It is understandable why most people do not do well when they navigate the market on their own.
But when customers seek advice from price comparison websites and similar advisors - as around half seem to do – they are often not getting good advice.
Perhaps this is to be expected in a market in which advisors are almost always paid by the sellers, and customers have little ability to assess the quality of the advice they get.
There are no easy solutions. Governments face the often mutually inconsistent objectives of stimulating choice and making choice simpler. The task is difficult at the best of times, and governments are seldom good at engaging with dynamic, fast-moving markets.
Some might argue that cheaper retailers simply have to convince customers of their merits, relative to the more expensive offers from the other retailers that most customers select. But electricity must already be one of the most advertised products in Victoria.
About 110 years ago, economist Alfred Marshall <a href="http://la.utexas.edu/users/hcleaver/368/368MarshallChivalrytable.pdf" target="_blank">suggested</a> that a government could print a good edition of Shakespeare’s works, but it could not have got them written. While the carcass of municipal electric works belongs to the officials, he said, the genius belongs to free enterprise.
The creation of a retail electricity market in Victoria 17 years ago sought to bring the “genius” of free enterprise to the sale of electricity to small customers. Taken in the round, the results so far are not entirely encouraging.<img src="https://counter.theconversation.com/content/122786/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/bruce-mountain-141253" target="_blank">Bruce Mountain</a>, Director, Victoria Energy Policy Centre, <a href="http://theconversation.com/institutions/victoria-university-1175" target="_blank">Victoria University</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/victorians-who-switched-energy-retailers-only-save-45-a-year-leaving-hundreds-on-the-table-122786" target="_blank">original article</a>.
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Victorians who switched energy retailers only save $45 a year – leaving hundreds on the table

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A castle-esque residence in Surrey Hills, Victoria, has been listed with a price guide of $3.4 to $3.6 million.
Located at 50 Wandsworth Road, the property comprises of 1,440 square metres.
It features four bedrooms, three bathrooms, a garage, study and library, large pool, and a personal gym. 
Built in 1888, the home has had wood-graining, marbling and gold-leaf detailing, carried out more recently by acclaimed artisan Derek Marvelley.
It last traded in 2001, when it sold for $1.3 million. 
The median house price in Surrey Hills is $1.738 million.
Richard Winneke and Campbell Ward, from Jellis Craig Boroondara, listed the sale. 
 
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Surrey Hills trophy home listed for sale

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Sydney's cheapest auction sale was $410,000 for a Newtown studio, one of just four reported weekend sales under $500,000.
The purchaser got a 39 square metre second floor corner position (pictured) overlooking King Street.
It was recently offered as a $430 a week rental, putting the sale at a 5.45 percent gross rental yield.
It had traded at $345,000 in 2014, at a slightly higher 5.8 percent yield. 
There were just three other reported sales where buyers got something in the $400,000s.
There was a two bedroom $446,000 Merrylands unit sold through Starr Partners. It last sold in 1999 at $215,000, so took around two decades to double in price.
A two bedroom Bankstown townhouse sold for $455,000.
There was a pre-auction $460,000 sale of a Potts Point studio, last sold at $36,500 in 1984.
The 27 square metre studio had city skyline views from its fifth floor Wylde Street vantage point.
The price guide had been $400,000 by McGrath agent Matthew Allerton.
A $382,000 Pemulwuy unit failed to sell.
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Newtown studio is weekend's cheapest sale

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Moving towards the latter part of 2019, the Central Coast region is seeing a little more stability in the residential market, according to the latest Herron Todd White (HTW) residential report.
The valuation firm took a look at rental yields across the nation. 
The report notes there is still the occasional outlier sale, but stability can be seen across all phases of the market.
The stability brings a good opportunity to look at where values are sitting and in the case of this month’s submission, where yields are sitting, the valuation firm said. 
"We generalise yields across several sectors of the market to include normal residential, prestige market and the holiday letting market," it said.
"No surprises that normal residential dwellings and units in the suburbs provide the bulk of rental accommodation."
Four-bedroom, new or newish project style dwellings towards the northern end of the region in suburbs that include Hamlyn Terrace, Woongarrah and Wadalba are showing yields in the vicinity of 4.5% to 5% gross.
In the older established locations and closer to the lakes and beaches, such as Bateau Bay, gross rental yield varies from 3.5% in the higher value bracket to 6% in the lower priced property segment.
The report suggests the unit market across the Central Coast Region is well established and like most of the eastern seaboard, it is expanding.
New developments are a prominent feature in the Gosford CBD and we can see that gross yields of between 4% and 5% can be expected.
The beachside suburb of Terrigal is a popular tourist and weekend destination, but it is also home to many living and working on the coast.
Gross yields on units seem to be hovering around the 4% mark at present.
"The Wyong unit market has traditionally been a solid investment choice and at the moment we are seeing gross yields varying anywhere from 5% to 7%," the valuation firm added. 
House and granny flat (secondary dwellings) have been popular in the peninsula suburbs of Umina Beach and Woy Woy for several years now.
This type of property is typified by an older dwelling, sometimes renovated and sometimes not, with a new granny flat erected within the rear yard area and accessed via the rear lane way.
A sample of this property from our records indicates that yields are around 5% to 6%.
"There have been some instances of 7% being obtained, but we believe a more representative level of yield to be slightly lower than this," the valuation firm said. 
In regard to the holiday letting market, getting a true market yield depends on a number of factors, least of which is disclosure of income to the market and that is a rare thing.
Other factors that can affect yields include the location, user reviews of a particular property, non-availability due to repairs and of course, occupancy rates.  
"There are more factors, but these are the ones we hear the most about," the valuation firm stated. 
"We hear and see yields ranging from sub-4% to well over the 10% mark.
"The end result for holiday lettings is that we find that the data is limited and too unreliable to make a call on yields." 
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Central Coast seeing more stability in the residential market: HTW

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In the Rockhampton region, yields have always been a strong consideration for the investor market as the region does not suffer the significant price fluctuations of the larger city markets, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
"Any capital gain to be had in our region is therefore a long-term commitment. A high grossing yield provides the incentive to remain in the market," the valuation firm said. 
"On the other hand, most investors coming into the Gladstone market are more looking for short to medium term capital gains, especially given the timing of the current market cycle.
"The current state of the Rockhampton and Gladstone markets is considered to be at the early stages of recovery, so typically now is the best time to achieve a higher yielding property while values remain at an affordable low and rents are starting to creep up after a consistent tightening trend of vacancy rates over the past 18 months to two years."
Across the Rockhampton and Gladstone regions, the type of investor varies greatly from the typical mum and dad investor who may have one house other than the family home, through to interstate investors who invest significantly in the region via the purchase of multiple dwellings or sets of flats.
Whilst rarely seen, there is also a small degree of foreign investment.
"The emergence of the Rockhampton Riverfront precinct over the past ten years has also provided the opportunity to hold a holiday unit and receive the higher return over peak periods, or the benefit of a dual key arrangement, although there is a limited market for fully serviced apartments in our region," the valuation firm added. 
Gladstone has a significant supply of inner city apartments operated as serviced apartments aimed mainly at corporate travellers as well as tourists.
Non-traditional income producing properties (such as Airbnb) are less common regionally, with little evidence available to determine a yield.
There are however the occasional peak periods where traditional short-term accommodation cannot cater to the market, such as during the Beef Australia events held every three years, where Airbnb is extremely effective, however this is not an ongoing source of income throughout the year.
In the residential space, it is unlikely that a standard suburban home would attract what investors would consider to be a high yielding return on investment, depending on the location.
The report notes a typical 10 year old, four-bedroom home that may sell for $470,000 may only provide a gross yield in the order of 5% to 5.5%. This type of yield reflects the low-maintenance nature of the property.
An entry level home in the older, established areas of Rockhampton will be more attractive if assessed on a yield basis only, for example a 1940s high set three-bedroom fibro home, not directly flood affected (becomes isolated during flood periods) may sell at around $160,000 and provide a gross yield somewhere between 7% and 8%.
Whilst this may be more acceptable to most investors, there is likely to be higher levels of expenses involved with maintaining the property which would affect achievable rental income.
"Gladstone properties reflect similar yields, however the price points differ slightly," the valuation firm said. 
A typical five to 10 year old, four-bedroom home in Kirkwood or New Auckland would sell for around $300,000 and would reflect a gross yield in the order of 5% to 6%.
An older 1960s high set, three-bedroom home in a central suburb such as West Gladstone or South Gladstone would typically sell for around $200,000 and provide a gross yield somewhere between 6% and 8%.
The best high yielding property type in our region is flats or multiple properties on one title.
Due to the multiple occupancy nature, the income generated is often at least double traditional residential housing.
"Whilst we have example after example of traditional sets of flats achieving gross yields typically in the high 7% to low 8% range (buy in prices around the low to mid $300,000s), there are still some rare opportunities out there," the valuation firm said. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/30/koongal%202.jpg" alt="">
A recent sale of a two x two-bedroom duplex at <a href="https://www.realestate.com.au/sold/property-duplex+semi-detached-qld-koongal-130358254" target="_blank">12 Macarthur Street, Koongal</a> (pictured above) for $210,000, reflects a gross yield of 9.9%.
It is difficult to beat a near 10% return on a residential property in this region. This property then may benefit from the potential to increase the yield through a renovation and in turn increase the annual income able to be generated by the duplex.
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Now is the best time to find higher yielding properties in Rockhampton and Gladstone: HTW residential 

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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