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The Ripples, a tightly held New Farm waterfront, has been listed for sale.
One of the best examples of Spanish Mission-style architecture along the Brisbane River, the Griffth Street mansion was design in 1928 by E.P. Trewern.
<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/2019/10/29/new%20farm%202%201.jpg" alt="">
It sits on 740 square metres that was originally part of Sir Samuel Griffith's Merthyr estate.
The four bedroom home with terracotta roof tiles, decorative rendered gables, ornamental metalwork and geometric leadlight windows has a rare private pontoon on the water.
<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/2019/10/29/new%20farm%203%201.jpg" alt="">
Ray White New Farm agents Matt Lancashire and Nicholas Given have expression of interest until November 15.
The Mills family paid $1,005,000 two decades ago.
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j.ballantyne1990-6AQqhLzZaK

Spanish Mission-style New Farm waterfront trophy home The Ripples listed

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Broken Hill had the state’s cheapest October auction offering — which was snapped up for $35,000 by an investor who will flip the mining town cottage.
The onsite auction had just the two phone bidders for what First National agent Mitchell Halpin marketed as “a renovators’ delight”.
Offered under instructions from the NSW Trustee &amp; Guardian, the three-bedroom cottage came with outdoor toilet and laundry.
The home also has a new roof, which cost about $25,000 after the 2016 hailstorm.
Broken Hill is one of the most active housing markets in NSW with 200-plus sales so far this year.
Prices start at $30,000 and have fetched $521,000.
The local buyers and occupants come especially from the teaching, mining and medical professions.
The big property sales this year have been retail offerings.
The Harvey Norman store fetched at $1.09 million, reflecting a 9.9% yield, and the KFC premises sold at $1.2 million.
The Catholic Church spent $850,000 to buy back the former St Joseph’s Convent after a four-decade gap.
This article first appeared in The Daily Telegraph.  
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$35,000 Broken Hill cottage ranks as cheapest weekend sale

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Five individual retail strata lots forming the ground floor of Perth’s The Towers at Elizabeth Quay has been offered for sale via expressions of interest.
Situated at 11 Barrack Street, the Towers at Elizabeth Quay were completed in July 2019 with the retail tenancies (Lots 276, 277, 278, 279 and 280) due to open in 2020.
The sites are being marketed and sold by Ray White Commercial (WA) Property Advisors Brett Wilkins and Phil Zoiti.
<img src="https://f.datasrvr.com/f1/219/92295/EQ_2.JPG">
Wilkins said the five retail strata lots offered for sale separately or as a portfolio would be complemented by a further $2 billion investment at Elizabeth Quay, including the new Australian Chevron HQ, the two towers at EQ West which recently commenced construction, and the two towers proposed by Brookfield.
“The five tenancies comprise The Towers Sales Office, Six Senses, Convenience Store, Argyle Bar and Lucky Necko,” Wilkins said. 
“Four of the tenancies offered for sale have new 10-year leases plus options, and every high net worth buyer wanting a trophy investment really need to look no further.”
Zoiti said: “The Towers feature 275 luxury apartments, with the five retail tenancies on the ground floor, alongside a second tower with the Ritz-Carlton Hotel with 205 luxury rooms and 104 luxury apartments above.”
The expressions of interest campaign closes on Wednesday 13 November 2019.
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Ground floor of Perth's The Towers at Elizabeth Quay offered to market

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GUEST OBSERVATION
We all know the feeling. You’re on your way to an important appointment when disaster strikes.
A glitch in the transport matrix leaves you <a href="https://www.propertyobserver.com.au/https://mobile.abc.net.au/news/2019-10-11/sydney-train-delays-after-signal-failure/11592818?pfmredir=sm&amp;sf221276741=1" target="_blank">waiting for a train that never arrives</a>, or in <a href="https://www.smh.com.au/politics/federal/sydney-melbourne-coming-to-a-standstill-as-infrastructure-struggles-20190812-p52g9n" target="_blank">bumper-to-bumper traffic</a> with little chance of making it to your destination on time. If you are like me, you may wonder: why are our transport systems so fragile, and how could we make them more resilient?
The answer may lie in the infrastructure we provide for the <a href="https://www.cbinsights.com/research/report/micromobility-revolution/" target="_blank">emerging trend of micro-mobility</a> – devices that are small, light and usually electric-powered. Greater investment in a micro-mobility network could improve the reliability of our current transport system, which offers two main networks in road and rail for journeys that are not walkable. This micro-mobility network can be developed by greatly improving the fragmented bicycle networks in our cities.
To understand how this could improve our overall transport system, we must first look at how transport projects are funded and how diversification and redundancy can make up for shortcomings in this process.
<h2>Selecting the best transport projects</h2>
When deciding which projects to build, transport agencies rank projects using a benefit-cost ratio (BCR). This number is the predicted benefits of a project divided by the predicted costs.
Unfortunately, benefit-cost ratios are often <a href="https://theconversation.com/how-do-we-restore-the-publics-faith-in-transport-planning-73684" target="_blank">misused to suit political motives</a>. They are inherently flawed and uncertain for at least three reasons:
<ol>
<li>modelling often <a href="https://theconversation.com/why-fewer-drivers-are-likely-to-use-westconnex-than-predicted-38286" target="_blank">miscalculates future traffic volumes</a>
</li>
<li>
<a href="https://theconversation.com/modelling-for-major-road-projects-is-at-odds-with-driver-behaviour-63603" target="_blank">inaccurate assumptions are used</a> to estimate the dollar value of costs and benefits</li>
<li>
<a href="https://theconversation.com/a-closer-look-at-business-cases-raises-questions-about-priority-national-infrastructure-projects-94489" target="_blank">many uncertain costs and benefits are simply ignored</a>.</li>
</ol>
Reducing investment risk through diversification
In the financial sector, uncertainty is simply a risk to be managed. This can be done with diversification, which is achieved by bundling different assets into a portfolio. For example, bundling shares from different industries reduces the risk that these “diverse” investments will all suffer losses at the same time.
Similarly, investing in a variety of transport modes is a form of diversification. This makes our transport systems more resilient to long-term changes in the economy, the climate, technology, energy and so on. For example, a transport system that provides alternatives to car travel is resilient to increases in the price of fuel or the cost of emissions.
Transport diversification reduces investment risk, so we are likely to get a more stable return on our transport investment. But diversification alone does not prevent a traffic accident blocking a motorway, or a power outage shutting down a railway line.
To tackle those problems, we should consider approaches the technology sector has been using to manage component failures for decades. It can provide <a href="https://aws.amazon.com/about-aws/whats-new/2019/01/amazon-ecr-announces-99-9--service-level-agreement/" target="_blank">services with 99.9% availability</a>. That would be quite an achievement for the transport network!
Managing component failure using redundancy
The technology sector uses redundancy to ensure service is maintained even when one part of the system fails. IT managers keep local and cloud backups so data can be retrieved even if the office burns to the ground. Aircraft designers install multiple flight control systems so the failure of a single system does not cause a crash.
In the transport sector, redundancy is achieved when several modes can be used to make the same journey. While the technology sector can offer redundancy through duplicate systems, providing a duplicate train line “just in case” the first one fails is simply too costly. Instead, we rely on the train network to move people when a road crash halts traffic and we rely on the road network to move people when a train line is closed.
Unfortunately, Australian transport networks do not offer enough capacity or alternatives when one mode is crippled. The predictable result is a fragile transport system with unplanned but not entirely unexpected faults causing frequent delays.
Tapping into micro-mobility solutions
A new wave of mobility solutions is on the horizon. Many are described as “micro-mobility”: electric scooters, electric bicycles and automated delivery pods fit this description, as do conventional bicycles.
These devices are perfect for short trips in crowded cities. They are used for individual mobility and micro-freight (such as small packages and takeaway food).
These devices travel faster than pedestrians, so can be <a href="https://theconversation.com/electric-scooters-on-collision-course-with-pedestrians-and-lawmakers-99654" target="_blank">unwanted on footpaths</a>. However, they are slower than motor vehicles, so can be unwanted on roadways. And as people using micro-mobility devices are <a href="https://theconversation.com/three-charts-on-the-rise-in-cycling-injuries-and-deaths-in-australia-116660" target="_blank">not protected from collisions</a>, they are often reluctant to mix with motor vehicle traffic.
The logical place for micro-mobility devices is on a network that is designed for unprotected humans to travel at around 10-30km/h. In other words, the bicycle network.
The benefits of a bicycle (or “micro-mobility”) network
The <a href="https://theconversation.com/cutting-cycling-funding-is-economic-non-sense-7547" target="_blank">evidence for investment in bicycle infrastructure is strong</a>. It has the benefits of tackling big challenges including obesity, emissions and traffic congestion.
This article highlights three additional benefits that are not included in traditional benefit-cost ratio analysis:
<ol>
<li>providing a bicycle network increases transport diversification and therefore minimises investment risk</li>
<li>a bicycle network provides redundancy to keep the transport system functioning when other networks fail</li>
<li>bicycle networks support the emerging micro-mobility market.</li>
</ol>
However, investment in bicycle networks in Australia has been miniscule for decades. For example, in 2015-16, <a href="https://www.bitre.gov.au/publications/2018/files/infrastructure-statistics-yearbook-2018-booklet.pdf" target="_blank">A$25.1 billion was invested in roads</a> and <a href="https://www.bitre.gov.au/publications/2018/yearbook_2018.aspx" target="_blank">A$8.7 billion in rail</a>. But only <a href="http://www.bicyclecouncil.com.au/publication/national-cycling-strategy-implementation-report-2016" target="_blank">A$121.8 million was spent on the bicycle network</a> – just 0.36% of transport infrastructure spending, or A$5.27 per capita.
The bicycle networks in Australian cities are therefore fragmented and incomplete, as seen below in the map of Sydney.
<a href="https://images.theconversation.com/files/296141/original/file-20191009-3910-qqlfms.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/296141/original/file-20191009-3910-qqlfms.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Sydney bicycle network. <a href="https://opendata.transport.nsw.gov.au/dataset/cycleway-data" target="_blank">Author using Transport for NSW data</a>, <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
Without a functioning bicycle network, the overall transport system is susceptible to investment risk and network failure. We will also be left behind as micro-mobility options proliferate and our transport system becomes less and less fit for purpose.
So let’s build a comprehensive bicycle network fit for scooters, delivery pods, bicycles and more, and let’s do it quick smart.<img src="https://counter.theconversation.com/content/124895/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
Tony Arnold, PhD Candidate, 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/to-bolster-our-fragile-road-and-rail-system-we-need-to-add-a-micro-mobility-network-124895" target="_blank">original article</a>.
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To bolster our fragile road and rail system we need to add a ‘micro-mobility’ network

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GUEST OBSERVATION
The Australian society has changed significantly since cemeteries in Victoria were planned and designed 150 years ago. But there haven’t been any major redevelopment or review of the community’s changing requirements for what happens to our bodies when we die.
The Australian population is ageing, with around 15% of Australians aged 65 and over <a href="https://www.aihw.gov.au/reports/older-people/older-australia-at-a-glance/contents/demographics-of-older-australians" target="_blank">in 2017</a>. About a third of older people in Australia were born overseas, with most coming from a non-English speaking background.
This has implications for our rituals for death and memorialisation, as well as for existing and future cemeteries.
In a new collaborative <a href="https://www.propertyobserver.com.au/https://monash.figshare.com/articles/Approaches_to_Death_Funeral_Rites_and_Memorialisation_in_Contemporary_Australia_Changes_and_Continuities/9922631" target="_blank">research project</a> taken from survey responses and in-depth interviews with members of different communities, we found cemeteries have ongoing significance to Australians, although its meaning and function are changing.
More than half of the 380 survey respondents said they still visit a cemetery once a year or more, and 23% visit once a month or more. But the interview data reveal a more complex and dynamic picture.
We found people from culturally and linguistically diverse (CALD) communities tend to visit the cemetery more than their Anglo counterparts, and prefered to be memorialised in cemeteries to preserve a sense of belonging.
Anglo-Australians, on the other hand, generally prefer to be cremated and often choose to scatter ashes in places other than a cemetery. In one participant’s case, that meant scattering remains in a French vinyard, an island volcano and their local beach.
Calling Australia home
The cemetery remains an important site of cultural ritualisation and expression to most CALD interviewees.
Interviewees from the CALD communities - especially those from an Asian cultural background - had positive experiences with cemeteries in Australia. When comparing Australian cemeteries with those in Malaysia, Jenny (60s, Malaysian Chinese) said:
"In Malaysia, the cemeteries are not like this […] they are all overgrown […] and we were taught that graves are places where the gangsters will hide out, the thieves will hide out, people will come and rob you, so we don’t go."
The perceptions that Australian cemeteries are more open, greener, better managed, more accessible, and not as scary as those in their original countries made many Asian migrants felt more willing to visit a cemetery here.
Besides the aesthetic contrast, for many CALD interviewees, the cemetery offers a space that embraces their culture and gives them a sense of belonging in Australia.
Tony (30s, Tongan) would love to have a traditional Tongan way of burial in Australia, which involves bone picking (removing the bones from the grave), and grave re-using for future generations. These traditions strengthen their inter-generational connections.
Australian regulations mean these ritual practices are not possible here. But Tony was prepared to make a compromise.
Instead of following the ritual, he insisted on being buried in Australia because his children and family live in Australia. The inter-generational connections can prevail here. They call Australia home.
Participants from the CALD communities generally shared Tony’s idea. They believed having a physical place in Australia (either a grave or a plot for the ashes) gave them a sense of belonging and settlement for themselves and their families.
A library of local history, not a ‘resting place’
On the other hand, people from an Anglo-cultural background no longer see cemeteries as just a space for memorialisation and mourning. From our interviews, many see it as a “library” or a “depository” of the local history and family genealogy.
Cemetery visits, in this sense, contrast between fulfilling one’s cultural duty of memorialisation, and obtaining historical knowledge for self-learning, reflection, and development.
Alfred’s (50s, Anglo-Australian) cemetery visits had been driven by his interest in his family history. Family history can give someone “an explanation” about the kind of person they are, and:
"how the attitudes were passed on to the next generation so you can learn a tremendous amount, multi-generation through a family history search."
Yet, while many Anglo interview participants appreciated the historical and cultural values of the cemetery, they became less enthusiastic when considering the cemetery as their “resting places”.
We believe this corresponds with the nationwide trend since 2012 of more Australians <a href="https://www.smh.com.au/national/cremations-overtake-burials-as-final-choice-20120813-244ft" target="_blank">preferring cremation</a> to traditional full-body burial.
We found 56% of our survey respondents preferred cremation, 32% indicated preference for a ground burial and 12% were undecided.
In any case, our research indicated many people prefer to be memorialised at a place or site that’s meaningful. This might include their favourite beach or the park where they spent time with their children, rather than in a cemetery, which is outside their social, family spaces.
Tina (50s, Anglo-Australian) embarked on a global journey to fulfil her late husband’s wishes as he wanted his cremation remains (called cremains) scattered in three locations he loved: a vinyard in Burgundy, France, a volcano in Reunion Island, and the family’s local beach in Williamstown, Melbourne. Tina did all three.
Planning your body disposal
More people have started pre-planning what happens to their body when they die. The quantitative data shows 64% of people have already discussed their end of life-related wishes with close friends or family, and 11% have pre-paid for a funeral service.
In an earlier study, <a href="https://www.tandfonline.com/doi/abs/10.1080/17450101.2018.1471847" target="_blank">we found</a> Chinese Australians, for example, tended to pre-purchase their funeral services and grave sites before they died.
As previously mentioned, this might enhance their sense of cultural belonging in Australia.
On the other hand, people from an Anglo cultural background would “talk about it”, but few actually “lock things in”.
Interviews from the present study revealed people with an Anglo cultural background had a strong desire of “flexibility”. Many didn’t wish to decide at the time of their interview, as they were still exploring possibilities and opportunities outside the conventional modes of body disposal and memorialisation.
In other words, the idea of being memorialised outside the cemetery was an emerging rather than established idea.
Understanding the contemporary and future funeral needs of the culturally diverse Australian population is important to policy makers, as well as the cemetery and funeral industries.
With increasingly limited access to usable land suitable for burial practices – particularly in metropolitan areas – planning must consider the funeral rites of the ageing population and incoming migrant groups. They are likely to make end of life choices in the coming decades.<img src="https://counter.theconversation.com/content/124180/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
Wilfred Wang, Lecturer, Communications &amp; Media Studies, Monash University.
Gil-Soo Han, Associate Professor, Communications &amp; Media Studies, Monash University.
Helen Forbes-Mewett, Senior lecturer, Monash 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/migrant-communities-keep-our-cemeteries-alive-as-more-anglo-australians-turn-to-cremation-124180" target="_blank">original article</a>.
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Migrant communities keep our cemeteries alive as more Anglo-Australians turn to cremation

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Crown Group has won two industry awards for its residential and hotel development, Arc by Crown Group in Clarence Street, Sydney. 
It took out the international award, The Architecture MasterPrize last week, as well as Australia’s peak industry body’s, the HIA’s Best NSW Apartment Complex 2019, at a ceremony in Sydney on Saturday night.
The Architecture MasterPrize is one of the most comprehensive architecture prizes in the world and celebrates the best in design excellence and innovation of architectural, interior, and landscape design.
The Housing Industry Association (HIA) is the peak industry association for the Australian residential building sector and its awards recognise excellence in residential construction and design excellence.
Opened in late 2018, Arc by Crown Group was designed by internationally acclaimed Koichi Takada Architects.
<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/2019/10/23/Arc%20by%20Crown%20Group_facade%20bricks.jpg" alt="">
The 25-story building located at 161 Clarence Street in Sydney’s heart, has a mix of 148 residential apartments, 73 serviced hotel apartments and luxurious five-star resort-style amenities.  
The heritage-inspired street level rustic brick arches and 59 white cathedral-like curved arches envelop the tower’s rooftop lounge and garden.
<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/2019/10/23/Arc%20by%20Crown%20Group_Rooftop%20Facilites.jpg" alt="">
It is renowned for its ice-cave themed indoor swimming pool, spa, gym, and rooftop garden area with city views.  
At ground-level, Arc by Crown Group’s modern retail precinct is home to a dining and retail precinct that includes Michi Izakaya &amp; Ramen, Ministry of Coffee, Delicatessen by Pony Dining and Grew &amp; Co Fine Jewellery.
"This award recognised the unique and innovative design, as well as outstanding and extraordinaryworkmanship, of Arc by Crown Group, a global icon that pushes the boundaries and has set a new benchmark for architectural and design lobally,” Crown Group Chief Operating Officer Pierre Abrahamse said.
Arc by Crown Group has previously won a number of architecture awards for its innovative design features including the 2019 MBA’s best Commercial Pool and best Commercial spa, UDIA NSW Awards for Excellence 2019 commendation, 2019 Architizer A+Awards Residential - Multi Unit Housing - High Rise (16+ Floors) Jury Vote and Popular Choice Awards, 2018 Property Guru Best Condo Development and 2015 International Property Awards Best Residential Development Australia.
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Arc by Crown Group in Sydney CBD wins HIA Best NSW apartment complex

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PropertyGuru's $1 billion Australian listing has been pulled at the eleventh hour.
PropertyGuru is the latest company to back out of a planned listing in Australia as economic uncertainties unnerve investors.
South-east Asia's biggest property portal is the fourth company to cancel an initial public offering (IPO) on the Australian Securities Exchange so far this month.
Its indicative price range was A$3.70 to A$4.50. 
A PropertyGuru spokesman said on that uncertainty in the IPO market was behind the decision to withdraw the listing, despite it having received "strong investor support from a number of leading global and Australian investors."
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The business was founded in Singapore in 2007 by Steve Melhuish and Jani Rautiainen having sensed a dynamic real estate market with no online platform.
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Recently Credit Suisse analysts suggested the Asian online real estate listings business could be the next ASX-listed unicorn, a potential $1 billion-plus listing on the Australian Securities Exchange.
PropertyGuru operates digital property classifieds marketplaces in five countries across Southeast Asia – Singapore, Vietnam, Malaysia, Thailand and Indonesia.
It claims its market share of the online real estate marketplace as:
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◼  72% in Singapore
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◼  69% in Vietnam
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◼  42% in Malaysia
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<li>
◼  45% in Thailand
</li>
<li>
◼  49% in Indonesia7
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It is the destination of over 23 million property seekers to find their home every month.
With over 45,000 active agents, the real estate portal has a revenue model that is predominantly subscription-based, where agents currently pay upfront fees for an annual subscription that provides them with a number of discretionary credits.
PropertyGuru says its does not need to raise funds for business operations and that it retains support from existing shareholders.
It said that both major shareholders, TPG and KKR, representing 58 per cent of the company ownership, were not seeking to sell any shares at IPO, and had entered into voluntary escrow arrangements until February 2021.
Reuters reported that investor support was coming in at the lower end of the price range as PropertyGuru took orders for the offering.
The deal's joint lead managers told investors that institutional demand was oversubscribed, the report added.
 
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PropertyGuru's $1 billion Australian listing pulled at the eleventh hour

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GUEST OBSERVATION
Here’s the boldest idea the government’s inquiry into retirement incomes should consider but might not: no longer exempting all of the value of each retiree’s home from the pension assets test.
The test would merely exempt part of the value of retirees’ homes. The change would free-up funds to support other retirees who are struggling because they have to pay rent.
It’s an idea with an impressive lineage.
The <a href="http://taxreview.treasury.gov.au/content/Content.aspx?doc=html/pubs_reports.htm" target="_blank">Henry Tax Review</a> suggested exempting only the first A$1.2 million. The bit above $1.2 million would be regarded as an asset and subject to the test.
<a href="https://images.theconversation.com/files/298025/original/file-20191022-56220-7y2uln.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298025/original/file-20191022-56220-7y2uln.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a href="http://taxreview.treasury.gov.au/content/Content.aspx?doc=html/pubs_reports.htm" target="_blank">Henry Tax Review</a>
The review said it would hit only 10,000 retirees. The $1.2 million figure was in 2009 dollars, meaning that if the change came in today the review would want it to cut in at a higher dollar figure.
The <a href="https://grattan.edu.au/news/theres-no-silver-bullet-when-it-comes-to-housing-affordability/" target="_blank">Grattan Institute</a> suggests a lower cut in: $500,000. The first $500,000 of each mortgaged home would remain exempt from the pension assets test, the part above $500,000 would be regarded as an asset. Grattan says it would save the budget $1 to $2 billion a year.
The <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-02-03/family-home-should-be-included-in-pension-asset-test-acci-says/8237206" target="_blank">Australian Chamber of Commerce and Industry</a> agrees, as does the <a href="https://actuaries.asn.au/Library/Miscellaneous/2019/RetirementIncomesGreenPaperFinal.pdf" target="_blank">Actuaries Institute</a>.
The idea scares homeowners
Who could object?
The Combined Pensioners and Superannuants Association says asset testing the family home would be “<a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-02-03/no-homes-in-assets-test-say-pensioners/8238828" target="_blank">massively unfair</a>”, targeting the vulnerable.
But people with high-value mortgage-free homes aren’t normally thought of as vulnerable.
Labor’s treasury spokesman Jim Chalmers says it would push more retirees “<a href="https://www.aph.gov.au/Parliamentary_Business/Hansard/Hansard_Display?bid=chamber/hansardr/e79ccb2b-a20c-483b-95e8-ca89001fbbd2/&amp;sid=0011" target="_blank">off the pension, out of their homes, or both</a>”.
He is right about the former, but wrong to think the retirees who suffered a cut in their pension or lost their pension would be badly off.
The worst off retirees, as recognised by a <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Economic_security_for_women_in_retirement/Report" target="_blank">Senate Committee</a>, are those without homes making do with grossly inadequate rental assistance.
Right now it is possible for a single person owning a $1.3 million mortgage-free home and $260,000 of other assets to get the full age pension.
Assuming that person draws down on those other assets at the rate of 5% per year, he or she can spend $37,000 per year and pay no rent.
Yet homeowners do well
A non home owner with $785,000, or half the assets, would be denied the pension.
Like the much-richer homeowner, that person would be able to draw an income of about $37,000 per year, but half it will have to go on rent.
It’s hardly fair.
It encourages retirees with homes to stash more and more of their assets into them in order to get the pension (and pass something valuable on to their children). Retirees with lesser assets miss out and have to rent.
But fairness is in the eye of the beholder.
The problem is that a ceiling on exemption from the assets test that seems fair in one part of Australia might not seem fair in another where home prices and perhaps the cost of living is higher.
Our suggestion could be sold as fair
In order to make more equal treatment seem fair to all retirees with homes I and fellow actuary Colin Grenfell have <a href="https://actuaries.asn.au/Library/Miscellaneous/2019/RetirementIncomesGreenPaperFinal.pdf" target="_blank">worked up an option</a> that would use the median (typical) price for each postcode as the cut off point for exemption from the assets test.
It would happen postcode by postcode, updated every year using Council valuations and as the median prices changed.
Only the owners of homes who values were atypical for the area would be affected, and only that part of the value of their home that was atypical would be included in the assets test.
Its key selling point is that it wouldn’t threaten homeowners with values at and below the average for their area.
The funds freed could increase the overall pension, but would probably be better applied to lifting rent assistance.
It’s important to treat retirees in the same financial circumstances the same, regardless of whether they own a mortgage-free home, and <a href="https://theconversation.com/fall-in-ageing-australians-home-ownership-rates-looms-as-seismic-shock-for-housing-policy-120651" target="_blank">fewer and fewer</a> retirees are owning mortgage-free homes.
It would have the added benefit of reducing the pressure on our parents and grandparents to own houses with bedrooms on the first floor that are never opened, not until they die and their houses are sold.
<img src="https://counter.theconversation.com/content/125500/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Anthony Asher, Associate Professor, UNSW.
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/postcode-by-postcode-a-clever-way-to-include-homes-in-the-age-pension-assets-test-125500" target="_blank">original article</a>.
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Postcode by postcode: a clever way to include homes in the age pension assets test

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Investing in Geelong has been a trend that many are beginning to follow, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at the rental yields across the nation. 
The report notes that with Melbourne’s property market finally at ease leaving median house prices at an all-time high, Geelong has caught the eye of many investors for its value and unique growth opportunities.
Geelong boasts a number of the factors that make an area stick out as a place with high growth potential.
Some of these factors include large infrastructure projects currently underway, vacancy rates and rental yields that continue to increase and a population that is growing.
"In terms of yields, the vast majority of Geelong’s suburbs have a gross rental yield higher than that of the Melbourne median, which is 2.7%," the valuation firm said. 
Like Melbourne, Geelong also has its own array of estates being built around the city, with Armstrong Creek being an enticing new development with yields at 3.7%.
Geelong’s ongoing infrastructure advancements has lured a number of investors towards the town, the report noted. 
Just last year, an unexpectedly strong net rental yield led to investors from across the nation building an upscale 4.5 star apartment building with 110 apartments to be sold.
Each one of these apartments produced a net rental yield of between 6% and 8%, according to Core Logic.
"Demand for this type of development is high in Geelong because of the increasing numbers of overnight visitation, with a 15% spike in the year," the valuation firm said. 
In terms of residential areas, suburbs such as Bell Park, Belmont, Torquay and Curlewis are the ones to look out for.
"Curlewis in particular has performed in spectacular fashion over the past 12 months as it has seen median house prices increase in value by 13.23%," it said.
<a href="https://www.propertyobserver.com.au/images/2019/10/23/geelong%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/10/23/geelong%201.jpg" alt="">
"To top things off, it has one of the highest yields amongst the entire district at just under 4%," the valuation firm stated. 
<a href="https://www.propertyobserver.com.au/images/2019/10/23/geelong%202.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/10/23/geelong%202.jpg" alt="">
The 24-month growth in median house prices and sales numbers for Curlewis. Source: Core Logic.
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Greater Geelong suburbs offer gross rental yields higher than Melbourne median: HTW residential 

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The exiled Chinese billionaire Huang Xiangmo has accused the Australian Tax Office of being a "political weapon" that was surrendering to "unknown dark forces".
He said the Tax Office had been "reduced to a despicable tool of political persecution".
He questioned whether "Australian politicians and media outlets who bank on telling tales about China and the Chinese [are] any different from the White Supremacists or the McCarthyites".
The property developer is fighting a $140 million tax bill by resisting a court order to disclose his worldwide assets which the ATO seeks to freeze.
The Tax Office is seeking to bankrupt the Chinese billionaire.
The <a href="https://www.huangxiangmo.com/" target="_blank" data-track-relatedarticle="inarticlelink">statement</a> was published on his personal website.
Huang, a central figure in the ICAC's ongoing inquiry into the alleged Aldi plastic bag NSW Labor donations, has resided in Hong Kong since his Australian permanent residency visa was cancelled last December.
"Before my visa was unfairly revoked by ASIO, [the] ATO had not once brought up the large amount of tax payable as alleged in the case," Huang said.
"By taking advantage of its tax collection power for the purpose of political character assassination and persecution, the ATO has turned into a 'political weapon'."
Huang said accusations of him of being a Chinese "agent of influence" came without "even a hair of evidence for such allegation".
The bulk of the tax bill was attributed to the sale of a mansion in Hong Kong, which was said to give rise to a capital gains tax liability.
On Monday, the Federal Court continued the freezing order.
It ordered Mr Huang to disclose his worldwide assets within 21 days.
The ICAC is investigating allegations Huang made a $100,000 cash donation to the NSW Labor Party in 2015.
Huang was banned from making political donations in NSW under laws targeting property developers.
He has declined to give evidence by video to the ICAC but denied making the donation.
Huang said he had an "impeccable" tax record in Australia and had "never ... had any history of default anywhere, let alone any record of tax evasion".
Earlier this year two Australian Chinese-language papers devoted their front pages to an open letter backing exiled billionaire property developer after his permanent residency was cancelled for reasons including character grounds in early February.
It says the Morrison government's decision to cancel Huang's residency was outrageous and calls for it to be overturned.
The letter appears to be a paid ad.
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Exiled billionaire Huang Xiangmo brands Australian Tax Office a 'despicable tool of political persecution'

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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