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ASIC has warned Australian investors considering establishing their own self-managed superannuation fund (SMSF) to be aware of the potential risks and downsides of such a strategy.
They said many Australians set up SMSFs that are inappropriate for their circumstances.
ASIC has identified eight "red flag" situations which, together or in part, would make it extremely unlikely for an investor to gain any advantage from using SMSFs to create and safeguard their intended retirement lifestyle.
Australian Tax Office figures reveal that as at 30 June 2019, there were 599,678 SMSFs in Australia holding nearly $748 billion in assets, making total assets held in SMSFs larger than those in either industry ($719 billion) or retail ($626 billion) funds.
ASIC Commissioner Danielle Press said, "ASIC believes that consumers are all too well aware of the potential benefits that might stem from using a SMSF, but are not equally alive to the considerable risks and responsibilities that come with the deal.
"SMSFs may be an attractive option for investors wanting more control over their superannuation investment strategy, but it requires real skill, care and diligence to manage your own superannuation. SMSFs are not for everyone simply because not everyone can meet the significant time, costs, risks and obligations associated with establishing and running one."
ASIC previously tracked and analysed member experiences in using an SMSF, and whether advice providers were complying with the law when providing personal advice about setting up an SMSF (refer Background). The research identified the "red flag" indicators that suggested when an SMSF may not be appropriate for an investor.
"Our research found that SMSFs are not suitable for members with a low fund balance, particularly where they have limited ability to make future contributions. This is important because consumers starting off with a low balance need to be aware that they may not be in a better financial position in the future by holding an SMSF compared with investing in an APRA-regulated fund," Ms Press said.
ASIC"s research also found that SMSFs are not an appropriate investment option for people who want a simple superannuation solution, particularly if they have a low level of financial literacy or limited time to manage their own financial affairs. On average, SMSF trustees spend more than 100 hours a year managing their SMSF.
"Where people have limited investment decision-making experience or prefer to delegate decision-making to someone else, they should carefully consider if an SMSF is right for them. As the trustees of their own fund, SMSF investors must remember that they are responsible for their fund"s compliance with the law, even if they pay a professional to help," Ms Press said.
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j.ballantyne1990-6AQqhLzZaK

ASIC identify the 8 red flags of SMSF's

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The ATO are set to seize the personal finance data of more than 200,000 Airbnb homeowners in an attempt to crackdown on tax avoidance.
"Airbnb is currently under legal notice by the Australian Taxation Office to share information concerning your hosting activity from the period from 1 January to 30 June 2019," an email sent out to Australian members of Airbnb.
The move comes after the ATO suggested they believe there are a number of people not reporting their income. 
“We believe some people using sharing-economy platforms are failing to report their income, ­either on purpose or because they assume their level of activity constitutes a hobby and doesn’t require reporting,” the ATO advised.
“We also seek to identify taxpayers who use sharing-economy rental platforms as a way to disguise their property as being genuinely available for rent by listing the property but not responding to enquiries.”
Names, addresses and emails are all expected to be given to the ATO, as well as personal finance such as online banking, payments, booking dates and gross income.
The information gathered will start from the financial years 2016-17 and run to the current financial year.
Airbnb have recently announced the <a href="/news/airbnb-short-term-rental-rules-in-new-south-wales-get-closer">new draft rules for their hosts and guests</a> which includes an online list of banned members, as well as a three strikes and you're banned policy.
 
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Airbnb to hand over letting details to ATO

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A Victorian era family home in Mont Albert, Victoria has sold for $2,356,500.
The home at <a href="https://www.realestate.com.au/property-house-vic-mont+albert-132092154" target="_blank">99 Victoria Crescent </a>in 735 sqm of landscaped gardens achieved well above its $1.9 million and $2.09 million guide.
It comprises four bedrooms, formal sitting room, family living/dining zone, stone kitchen, and sun-drenched alfresco.
<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/2019/10/9/mont%20albert%202.jpg" alt="">
Other features include self-cleaning pool, high ceiling, gas fireplace, remote-control gate and off-street parking. 
<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/2019/10/9/mont%20albert%203.jpg" alt="">
The home is located within close proximity to schools, retail-restaurant precincts, trams and train stations, parklands and EastLink freeway.
Walter Dodich and Steven Rod of Kay &amp; Burton Hawthorn secured the sale. 
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Mont Albert Victorian-era home surrounded by landscaped gardens sold 

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An 1897 Victorian residence in Prahran, Victoria has hit the market with a price guide between $3.1 million to $3.3 million.
It has been listed via expressions of interest by Tim Brown from Castran Gilbert South Yarra and Andrew Smith from Kay &amp; Burton. 
Perched high on its original bluestone foundations, the double storey home at <a href="https://www.realestate.com.au/property-house-vic-prahran-132058986" target="_blank">29 Woodfull Street </a>comes with two levels.
The ground level comprises a central hallway leading to formal dining room, separate family zone opening to garden, Miele kitchen, study, and wine cellar.
<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/2019/10/9/prahran%202.jpg" alt="">
The upstairs features master bedroom with ensuite, two further bedrooms and central family bathroom.
Other highlights include designer Articolo lights, open fireplaces, established landscaped gardens and off-street parking.
<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/2019/10/9/prahran%203.jpg" alt="">
The home is located just moments from Orrong Park. 
The expressions of interest campaign for the property closes October 29.
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Prahran 1897 trophy home hits the market 

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GUEST OBSERVATION
Australia has one of the most sophisticated water markets in the world, particularly notable for the ways in which government can return water to the environment.
Water markets allow the return of this water through two main mechanisms. The first is buybacks, in which the government purchases water licences directly from willing irrigators via an open tender process.
The second involves subsidising irrigation infrastructure on (and off) farms to improve water efficiency, with a percentage of the assumed water savings being transferred to a licence held by the government.
However, open tender buybacks essentially <a href="https://www.theguardian.com/world/2014/feb/27/murray-darling-basin-deal-caps-water-buybacks" target="_blank">stopped in 2014</a> in favour of infrastructure projects. This was due to the widespread belief that buybacks were inflating the price of water and causing economic hardship in rural communities.
Our research, published in <a href="https://www.sciencedirect.com/science/article/pii/S0928765518304585" target="_blank">Resource and Energy Economics</a>, set out to test this assumption of the impact of water recovery on water markets. We found that water scarcity (due to seasonal change or water allocation reductions) had far more influence on water prices than government water recovery. In fact, voluntary, open tender buybacks are the most cost-effective and low-risk option for increasing river flow.
By ignoring this option, we are hamstringing Australia’s ability to flexibly cope with drought conditions and long-term climate change.
Lessons from 20 years of data
My colleagues and I wanted to understand the impact of government water recovery on the Murray-Darling Basin’s water markets. To do so, we needed to understand the dynamics and drivers of the markets both before and after buybacks began.
We looked at monthly prices over twenty years in the Goulburn catchment in Victoria (<a href="https://www.mdba.gov.au/managing-water/water-markets-trade/interstate-water-trade" target="_blank">1A Greater Goulburn</a>) - both for permanent water markets (where a water licence is permanently transferred) and temporary ones (a seasonal transfer of water).
<a href="https://images.theconversation.com/files/295324/original/file-20191002-49365-xmv3hp.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/295324/original/file-20191002-49365-xmv3hp.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The drivers of water market prices in temporary and permanent water markets are different, but market dynamics are similar: market volatility shocks go from prices to volumes.
<a href="https://images.theconversation.com/files/295325/original/file-20191002-49404-n8hk9p.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/295325/original/file-20191002-49404-n8hk9p.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Temporary water trade is driven by water scarcity, caused by factors such as seasonal fluctuation in water allocated to licences and the weather. Conversely, permanent water trade is influenced by a combination of past prices and temporary water prices.
What about government intervention?
We found no evidence that government water recovery influenced water prices in either market in a statistically significantly way.
However, we did find that increases in the amount of water recovered by the government reduced the volume of temporary water traded. This is probably due to the fact that many irrigators who sold water to the government had been <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/1759-3441.12038" target="_blank">selling surplus temporary water</a>, and this volume was then taken out of the market.
We also found that government water recovery increased the volatility of temporary market prices and volumes, signalling potential increased risk and uncertainty for irrigators engaging in temporary water markets.
These results are significantly different to previous estimates by consultants, some of which suggest government buybacks cause <a href="http://rmcg.com.au/app/uploads/2017/01/Basin-Plan-Impact-GMID_Final_14-October-2016.pdf" target="_blank">temporary water market prices to double</a>.
Our findings contradict this. Our results are in line with and reinforce other peer-reviewed economic literature, which has shown buyback of water entitlements had <a href="https://mdbrcsa.govcms.gov.au/sites/g/files/net3846/f/mdbrc-submission-professor-sarah-wheeler-sa.pdf?v=1527826747" target="_blank">far less impact on rural communities than commonly claimed</a>.
This is partly because government buybacks simply do not create large enough changes in the amount of seasonal water available to affect prices, given that variability. A 1% increase in water buybacks caused a 0.1% drop in temporary water volume traded. In addition, farmers are very good at adapting to changes in water, and have a number of strategies and options available to them in most years.
Unfortunately, commonly held perceptions about the impacts of buyback on rural communities and water markets has had serious policy ramifications.
Irrigation schemes are not enough
As noted earlier, buybacks are now off the table. Funding for water recovery is now directed exclusively to infrastructure projects, which are deficient in a number of key respects.
Since water buybacks started in 2008, A$2.5 billion has been spent to recover 1,227 gigalitres of water licences. At the same time, A$3.9 billion has been spent so far on things like lining channels and building dams, which has saved <a href="http://www.agriculture.gov.au/water/mdb/progress-recovery/progress-of-water-recovery" target="_blank">695 gigalitres</a>.
Water recovery by infrastructure schemes now cost at <a href="https://www.annualreviews.org/doi/full/10.1146/annurev-resource-100517-023039" target="_blank">least three times</a> as much as buybacks per megalitre recovered. These infrastructure projects <a href="https://theconversation.com/paddling-blind-why-we-urgently-need-a-water-audit-122118">may not</a> return as much water to the environment as assumed, while they also also create the risk of <a href="https://wentworthgroup.org/wp-content/uploads/2018/05/Requirements-for-SDL-adjustment.pdf" target="_blank">environmental harm</a>.
Irrigation infrastructure <a href="http://www.fao.org/3/I7090EN/i7090en.pdf" target="_blank">subsidies</a> can also expand total irrigation areas and increase water use, and encourage a conversion from seasonal crops to permanent plantings such as orchard trees. These permanent crops demand a fixed amount of water every year, making farms less adaptable in the face of drought and climate change.
How did policy get this wrong?
The results of our water market study show that there are key differences between high quality, peer-reviewed economic science on the one hand, and short-term consultancies and people’s perceptions on the other.
High quality economic science takes time, expertise and requires reputable, consistent and long-term datasets that control for the myriad of influences on economic change. Short-term consultancies and inquiries (such as the Northern Basin Review) are often rushed, not representative and are often not based on reliable datasets.
Inquiries also often amplify the voices of <a href="https://www.sciencedirect.com/science/article/abs/pii/S026483771630401X" target="_blank">lobby groups and the people who are most aggrieved</a> by water recovery, while other voices – floodplain irrigators, indigenous representatives, irrigators who want water reallocated to the environment – may be <a href="https://www.smh.com.au/environment/conservation/the-thirsty-giants-killing-our-rivers-20190411-p51d4j" target="_blank">silenced</a>.
There are currently two inquiries looking at <a href="https://www.accc.gov.au/focus-areas/inquiries/inquiry-into-murray-darling-basin-water-markets" target="_blank">water markets</a> and <a href="https://www.basin-socio-economic.com.au/" target="_blank">socio-economic conditions in the basin</a>. It is vitally important they capture all voices equally and are supplemented by independent, high quality analysis.
If we can’t understand the real drivers of change in the Basin, we can’t identify the best options for improving the social and economic health of its communities – particularly in the face of drought and climate change.<img src="https://counter.theconversation.com/content/124491/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;">
Sarah Ann Wheeler, Professor in Water Economics, University of Adelaide.
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/scarcity-drives-water-prices-not-government-water-recovery-new-research-124491" target="_blank">original article</a>.
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Scarcity drives water prices, not government water recovery: Sarah Ann Wheeler

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GUEST OBSERVATION
A Hong Kong student holding a sign detailing the protesters’ demands from the government.
There have been many explanations for the turmoil in Hong Kong, which is now heading toward its 16th weekend. However, the powerful links between the economic and political elites in the city and the grossly inadequate system of governance they preside over are too often ignored.
In explaining the source of Hong Kong’s unrest, many leaders have predictably blamed the <a href="https://www.scmp.com/news/hong-kong/politics/article/3017180/former-hong-kong-leader-tung-chee-hwa-blames-liberal" target="_blank">teaching of liberal studies in schools</a>. The notion that students should gain a critical understanding of politics and society – not to mention actively participate in these – is simply too much for those who believe they must make the big decisions.
On the other side, the ire of many protesters is overwhelmingly directed toward China and the Hong Kong government, particularly Chief Executive Carrie Lam. Lam’s actions – first disappearing and then reappearing with equal measures of bureaucratic steeliness and obstinacy – have only made matters worse, as have the actions of a police force once revered by many as “Asia’s finest” and the posturing of Chinese forces.
Indeed, the sum total of these efforts has been a <a href="https://theconversation.com/hong-kong-protesters-dont-identify-as-chinese-amid-anger-at-inequality-survey-suggests-122293" target="_blank">hardening localist identity</a> that has become more apparent among the protesters as the unrest has continued.
Moreover, mutual animosity has grown to such an extent that backing down by either side would seem unlikely. Indeed, for the last few weeks it has been much easier to imagine escalation than the opposite.
Decline without hope
However, the most likely explanation for the unrest lies not in the education curriculum or Beijing’s influence over the city, but rather the nature of Hong Kong government and society itself.
Despite the way the Hong Kong government markets itself to the world – emphasising the rule of law and promoting the city’s high-quality business environment – the city has actually been in decay for decades.
Firstly, Hong Kong has been subject to the “hollowing out” processes that have plagued many former industrial economies – a situation in which industry leaves and nothing replaces it.
Importantly, this has been coupled with an inability of those at the top end of town to recognise the vast inequalities this has contributed towards. According to government statistics, <a href="https://www.scmp.com/news/hong-kong/economy/article/2097715/what-hope-poorest-hong-kong-wealth-gap-hits-record-high" target="_blank">Hong Kong’s wealth gap hit a historic high</a> in 2017, with the wealthiest households earning 44 times the poorest.
For many here, life is experienced in the form of <a href="https://asia.nikkei.com/Opinion/Social-mobility-the-key-to-addressing-Hong-Kong-discontent" target="_blank">stalling or declining social mobility</a>, sky-high housing prices (<a href="https://www.scmp.com/business/article/2182980/nothing-be-proud-hong-kong-tops-table-worlds-most-expensive-housing-market" target="_blank">the most expensive in the world</a>), dire air quality, crumbling infrastructure (the subway system and airport being the only exceptions), highly uneven <a href="https://www.hongkongfp.com/2015/12/15/lets-criticise-the-inequality-at-the-core-of-our-education-system-not-just-the-symptoms/" target="_blank">education</a> and <a href="https://www.researchgate.net/publication/335269901_Poverty_affects_access_to_regular_source_of_primary_care_among_the_general_population_in_Hong_Kong" target="_blank">health services</a> (<a href="https://edition.cnn.com/2018/03/02/health/hong-kong-world-longest-life-expectancy-longevity-intl/index" target="_blank">despite the trumpeted statistics</a>), and lack of decent public spaces.
Long delays to move into public housing are the norm. “<a href="https://www.hongkongfp.com/2018/06/17/video-hong-kongs-box-like-nano-flats-tight-squeeze-young-professionals/" target="_blank">Nano apartments</a>” smaller than a parking bay are the only housing option for many, with many flats in the city housing multiple generations of families.
Young Hong Kongers who have been raised on the city’s golden age stories of tycoons like <a href="https://www.businessinsider.com/heres-how-li-ka-shing-became-the-richest-man-in-hong-kong-2015-6" target="_blank">Li Ka Shing</a> (known here affectionately as “Superman”) also face depressing futures in low-paying service jobs.
Moreover, higher education hasn’t helped young people secure higher-paying jobs. One <a href="https://www.scmp.com/news/hong-kong/education/article/2178402/hong-kong-university-graduates-take-home-less-pay" target="_blank">recent survey found</a> that average graduate salaries are significantly lower than they were in 1987.
While market fundamentalists like Milton Friedman <a href="https://www.youtube.com/watch?v=xqh0zXSd4vc" target="_blank">famously heralded</a> the entrepreneurialism of Hong Kong. In reality, it’s laissez-faire for the top end of town, and colonial-era bureaucracy for the rest. Young people contemplating opening a business face oligopolies, rapacious landlords eager to gain from the first signs of success and, in some sectors, rigid government regulations.
Making matters worse, anything vaguely progressive in a redistributive sense is often dismissed by anti-government protesters as too narrowly focused on economic factors at the expense of democratic reforms.
Much like the United States, which has become a positive reference point for many protesters, a pull-yourself-up-by-the-bootstraps individualism prevails in Hong Kong.
Frustratingly, rather than taking aim at the tycoons and conglomerates that dominate the economy, or the property developers and landlords who control the housing market, the main target of the protesters has been the government.
And the protesters don’t condemn the government for protecting the elite’s economic interests to the exclusion of many Hong Kongers, but rather for implementing the will of Beijing.
Why protesters aren’t focusing on economic elites
Indeed, even after some of the richest people in the territory voiced support for the government in <a href="https://www.scmp.com/news/china/diplomacy/article/3026960/casino-queen-pansy-ho-makes-pro-beijing-case-hong-kong" target="_blank">recent weeks</a>, very few in the protesting camp have turned their anger towards the city’s economic elites.
This fact speaks to the power of the founding myths of modern Hong Kong and how the city’s rich made good. There’s a certain reverence for the city’s tycoons that persists here, along with a lack of class consciousness and an ingrained ideological hostility towards anything vaguely left-leaning politically.
Moreover, while universal suffrage is a key part of the demands made by protesters, this overwhelmingly relates to the selection of the chief executive, not the structure of the government itself.
For instance, under an anachronistic colonial arrangement known as the “<a href="https://thediplomat.com/2016/09/what-exactly-is-hong-kongs-legislative-council/" target="_blank">functional constituencies</a>”, a host of economic sectors (such as the financial services, real estate and tourism) gain political representation in the Legislative Council at the expense of citizens.
Crucially, too, little effort has been made to explain why universal suffrage would be so important in Hong Kong beyond thwarting China’s influence. This has limited the formation of lasting coalitions within the protest movement that could rally around the idea of using increased political power to resolve pressing social issues.
Combined with some protesters flying American, British and colonial flags and waving pictures of US President Donald Trump on top of a tank, the movement often appears to be erring closer towards being just another form of reactionary populism.
Rebuilding hope and the city
The fact that young people are grappling with forging a more positive future is to be admired. However, for Hong Kong to have any reasonable future, the city requires nothing short of large-scale economic and political transformation.
Universal suffrage is one part of this, but in isolation it is insufficient. The question for Hong Kong is whether the protesters and other members of society recognise what needs to be done in a holistic sense and can pull together to make it possible.
In a city characterised by vast inequalities in economic and political power, this challenge is nothing short of revolutionary in the genuine sense of the word.<img src="https://counter.theconversation.com/content/123866/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;">
Toby Carroll, Associate Professor, City University of Hong Kong.
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/hong-kong-is-one-of-the-most-unequal-cities-in-the-world-so-why-arent-the-protesters-angry-at-the-rich-and-powerful-123866" target="_blank">original article</a>.
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Why aren’t the Hong Kong protesters angry at the rich and powerful? Toby Carroll

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GUEST OBSERVATION
The number of homeless defence veterans in Australia is far bigger than previously thought, according to a new study.
Our <a href="https://www.dva.gov.au/health-and-wellbeing/research-and-development/homelessness-amongst-australian-veterans-summary" target="_blank">research</a> puts the figure at almost 5,800 veterans experiencing homelessness in a 12 month period.
Veterans are also more likely to be homeless than other people in the Australian community.
We found the homelessness rate for veterans who recently left the ADF was 5.3% – significantly higher than the <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4159.0Explanatory%20Notes12014?OpenDocument" target="_blank">1.9% for the general population</a>.
A lack of data
Before the release of this estimate, an accurate number of homeless veterans in Australia was not known, and estimates varied widely. That is because there is limited national data available to count homeless veterans.
Prevalence rates are typically calculated by dividing the number of people with a specific characteristic (such as not having a secure home) by the total number of people in the population of interest (such as veterans).
This method is not possible in Australia as there is no data set that defines the veteran population. We do not even know how many veterans there are in Australia, because reliable data of serving personnel is only available from 2001.
One previous attempt at determining prevalence of homelessness among veterans was the Veterans at Risk report in 2009, funded by the Department of Veterans’ Affairs (DVA). This relied on census data (which does not identify veterans) and produced an estimate of around 3,000 homeless veterans.
Another <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Foreign_Affairs_Defence_and_Trade/ADF_Mental_Health/Report">attempt</a> was made by DVA in 2016. No information was provided on how it estimated there to be around 200-300 homeless veterans throughout Australia.
This knowledge gap was a concern for government policymakers as well as veteran advocates who have been calling for further research and an increased service response for years.
Without a baseline count, they are unable to determine whether veteran homelessness is increasing, plan an appropriate service and policy response, or assess the effectiveness of any interventions.
It is therefore vital to establish a more robust estimate.
How we came up with our estimate
Our estimate is obtained from survey data representative of all veterans who left regular Australian Defence Force (ADF) service between 2010 and 2014.
The survey was done as part of the DVA and Defence Department-funded <a href="https://www.dva.gov.au/health-and-wellbeing/research-and-development/social-research/transition-and-wellbeing-research" target="_blank">Transition and Wellbeing Research Programme</a>. This is the most comprehensive study in Australia that examines the impact of military service on the mental, physical and social health of serving and ex-serving personnel.
The survey was completed by 4,326 men and women who left the ADF in the five-year time period. The results were weighted to represent the entire population of Australian Defence Force personnel that left between 2010 and 2014.
We used the Australian Bureau of Statistics’ definition of homelessness. This classifies as homeless anyone who is sleeping rough, couch-surfing, or living in emergency or temporary accommodation such as shelters.
We <a href="https://www.dva.gov.au/sites/default/files/files/health%20and%20wellbeing/research_dev/socialresearch/homelessness-aus-vet-its-correlates-adf.pdf">found</a> around 5.3% of these veterans reported they had been homeless within the past 12 months.
To calculate the prevalence of homelessness we extrapolated this proportion to the total population of veterans who enlisted after January 1, 2001, and were discharged sometime between 2001 and 2018.
The veteran population total is 108,825, so taking 5.3% of this figure gives us an estimate of 5,767 of veterans who were homeless within a 12-month period.
This extrapolation reasonably assumes the homelessness rate is similar between veterans who transitioned from Regular ADF service between 2010 and 2014 and the total population of veterans (2001-18).
Both groups fall within the cohort described as contemporary veterans by the DVA. These veterans have seen military operations from 1999 onward and often share features of recent service, such as the impact of multiple deployments in smaller contingents and the use of new technologies.
While the 12-month homelessness rate for veterans (5.3%) and the general Australian population aged over 15 (1.9%) were calculated using different techniques, the comparison shows veterans are overrepresented in the Australian homeless population.
The best estimate, so far
We believe our method provides the best estimate to date of homelessness among veterans in Australia, but it is still likely to be an underest.
Homeless veterans are an extremely hard group to reach. It is likely that many potential survey participants who were homeless at the time the survey was conducted, did not complete the survey.
Our estimate also excludes all those who served in the ADF prior to January 1, 2001. Older veterans such as those who served in Vietnam do experience homelessness in Australia, but the prevalence among this group is unknown.
As part of our research, eight of the 29 homeless veterans we interviewed were aged over 55, with the oldest being 74. US <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/15457118" title="Perceived relationship between military service and homelessness among homeless veterans with mental illness">research</a> says there is often a long time lag between transition from military service and becoming homeless.
Lest we forget
Our research puts a new number on the problem. We still do not know whether veteran homelessness is increasing over time, but the broader context of <a href="https://www.abs.gov.au/ausstats/abs@.nsf/lookup/2049.0Media%20Release12016">homelessness increasing throughout Australia</a> suggests this may be the case.
As <a href="https://www.awm.gov.au/commemoration/remembrance-day">Remembrance Day</a> approaches, and Australians prepare to thank our military men and women for their service, we suggest that attention should also turn to addressing this national shame.
Our research also identifies ways that service responses can be improved. It will require a great deal of will and significant funding to address what has until now been an underestimated problem.<img src="https://counter.theconversation.com/content/123695/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;">
Fiona Hilferty, Senior Research Fellow, Social Policy Research Centre, UNSW. 
Ellie Lawrence-Wood, Senior Research Fellow in Traumatic Stress Studies, University of Adelaide. 
Ilan Katz, Professor of Social Policy, UNSW.
Miranda Van Hooff, Director of Research Centre for Traumatic Stress Studies, University of Adelaide.
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/5-800-defence-veterans-homeless-in-australia-thats-more-than-we-thought-123695" target="_blank">original article</a>.
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5,800 defence veterans homeless in Australia, that’s more than we thought

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GUEST OBSERVATION 
If family members are in a nursing home, it’s difficult to know if they’re getting the care they need. Here are some ways to find out.
If you’ve read the headlines about poor standards in Australia’s nursing homes, it’s only natural to be concerned about your own family or friends in residential aged care.
For instance, there was <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-09-12/bupas-aged-care-homes-failing-standards-across-australia/11501050" target="_blank">news in recent weeks</a> that 45 of 72 Bupa nursing homes in Australia had failed to meet all health and safety standards, with 22 putting residents at “serious risk”.
Then there are the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-02-22/first-fortnight-of-hearings-for-royal-commission-wrap-up/10837116" target="_blank">harrowing stories of neglect and abuse</a> coming from the <a href="https://agedcare.royalcommission.gov.au/" target="_blank">Royal Commission into Aged Care Quality and Safety</a>, which is due to release an interim report by the end of October.
So, how do you check if your loved one’s nursing home is really up to scratch? How do you interpret audit reports about residents’ health and safety? And how else could you find out if your mum or dad’s nursing home lives up to the promise of its marketing brochures?
Who keeps an eye on nursing home standards?
Every nursing home in Australia receiving government funding is assessed and accredited by the <a href="https://www.agedcarequality.gov.au" target="_blank">Australian Aged Care Quality and Safety Commission</a>. Assessments are conducted every three years or more often if there are concerns.
Commission staff check if each nursing home meets eight <a href="https://www.agedcarequality.gov.au/sites/default/files/media/Aged%20Care%20Quality%20Standards.pdf" target="_blank">minimum standards</a>. These include whether residents are treated with respect, the nursing home is providing safe and effective clinical care, and staff have adequate qualifications and training to do their jobs.
Commission auditors interview residents, families and staff; observe care; and review the facility’s documentation. Visits can be unannounced to get a better picture of what regular care is like. Auditors then use that information to write a site audit.
It takes about a month after a site audit for the commission to decide on the quality of care. Then there’s up to another month for the audit report to be posted online.
Posting the decision publicly can be delayed further if a nursing home asks for the decision to be reconsidered. We understand this often happens if a home receives a poor report.
What is a bad report?
When a home is judged as not meeting standards, the commission will decide how serious it believes these deficiencies are. In increasing order of seriousness, the report says if a home is:
1. Not meeting standards. Nursing homes can be judged as not meeting one or more of the eight minimum aged care standards. Each standard has three to seven individual requirements. Nursing homes don’t have to meet all the individual requirements to meet the overall standard. The more standards or requirements a nursing home fails to meet, the poorer the care.
2. Serious risk. If a nursing home is given a “serious risk” judgement, the quality of care has placed or may place the safety, health or well-being of a resident at serious risk. An example might be a home not having enough skilled staff, leading to clinical mistakes, such as the wrong medication administered often.
3. Sanctions. Sanctions are imposed on homes when care places an immediate and severe risk to residents’ health, safety or well-being. This might be for multiple organisational problems (such as with clinical care, staffing, wounds not being cared for), leading to multiple poor outcomes (such as assault, avoidable illness, and the dangerous administration of medication). Homes can also be sanctioned if they do not fix continued non-compliance.
Families are notified in writing, and facilities must hold a meeting for residents and families to tell everyone what the problems are and how they will fix them by a certain date.
When a nursing home is sanctioned, it is penalised in several ways, depending on what was poor about the care:
the home is not allowed to receive Commonwealth subsidies for any new resident for a set time (usually six months) and an adviser and/or administrator is appointed to the home to help it comply with its responsibilities and/or the home provides specified training to staff within a set time.
A home’s history of non-compliance, serious risk decisions and sanctions are archived online (see below for details). So it might be worth taking a look when choosing a nursing home, as well as checking on an existing one.
4. Revoking accreditation status. If sanctions are imposed and there is no improvement, the commission can revoke a home’s accreditation status. This means a home cannot take new residents or receive government subsidies. Some of these homes reapply for accreditation, others <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-07-11/gold-coast-earle-haven-retirement-village-shuts-homeless/11301050" target="_blank">shut down</a>.
How do I find out? Looking online
The most up-to-date information on nursing homes not meeting standards (non-compliance) and sanctions is through <a href="https://www.myagedcare.gov.au/non-compliance-checker" target="_blank">myagedcare’s non-compliance checker</a>. This allows you to see if an individual home has not met standards, is sanctioned currently or has been in the past. Some archived sanctions on the website go back to 2002.
However, the myagedcare website doesn’t list “serious risk” reports. For those, you have to go to the Aged Care Quality and Safety Commission’s <a href="https://agedcarequality.govcms.gov.au/monthly-register-serious-risk-decisions-residential-services" target="_blank">website</a>.
You can also search the commission’s <a href="https://www.agedcarequality.gov.au/reports" target="_blank">website</a> for audit and consumer experience reports, which provide more detail on the quality of care.
Audit reports can be difficult to understand because their intended audience is aged care professionals, not the general public. Reports before July 2019 are on the 44 old aged care standards. Reports from July 2019 are on the new eight standards.
<a href="https://www.agedcarequality.gov.au/consumers/consumer-experience-reports-residential-aged-care-services" target="_blank">Consumer experience reports</a> show what residents said about their care. That’s from whether staff followed-up when they raised an issue, to what they thought about the food. These reports are easier to follow.
How do I find out? Other ways
It can be hard for family to know if their expectations for care are reasonable, particularly when feelings of sadness and guilt colour those expectations.
So, it can help to consider the aged care standards when making your own decisions about whether the quality of care is good enough.
You can do this by observing what happens day to day. Do residents wait too long for attention, for instance, to be taken to the toilet? Do staff speak respectfully and kindly to residents? Are meals appetising and healthy? What happens when residents are distressed? Is there high staff turnover?
Does the nurse on duty know the detail of your loved one’s clinical needs, for instance, diet, illnesses or medications? Is the manager responsive when you raise issues?
You can also talk to other families about their experiences of care.
What should I do next?
If you find that your loved one’s home doesn’t meet standards or is sanctioned, here’s what to expect.
The commission gives the home a set period of time (usually three or six months) to improve care. Commission staff keep visiting the home until they are confident the home is meeting standards.
You will probably want to visit regularly and keep an even more careful eye on your mum or dad’s care. Speak to the home or commission about any concerns.
You can ask your home’s management:
<ul>
<li>
about its plan to improve care
</li>
<li>
about staff changes and staff ratios — staff often leave or are asked to leave when there are sanctions and lots of new and agency staff are a challenge to providing quality care
</li>
<li>
for regular written updates and meetings including actions taken and the outcomes. This could be data on the home’s use of antipsychotic medications, and how often residents have falls, critical incidents or pressure ulcers.
</li>
</ul>
As a resident or nominated family member, you have <a href="https://www.agedcarequality.gov.au/consumers/consumer-rights#single%20charter%20of%20aged%20care%20rights" target="_blank">a right to information and to complain</a> about your loved one’s aged care.
When should I consider switching to another home?
The issue of whether to move a loved one to a new nursing home is a difficult one. It’s a personal decision involving weighing up the negative impacts you think the care is having with your own energy levels, <a href="https://www.myagedcare.gov.au/aged-care-home-accommodation-refunds">funds</a> and whether <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/life/questions-to-ask-when-choosing-an-aged-care-home-for-a-loved-one/10302590">you can find</a> a suitable new home.
Government reforms presume market forces <a href="https://www.smh.com.au/business/the-economy/how-market-forces-have-failed-the-nation-20180918-p504f1" target="_blank">will drive up the quality</a> of aged care. In the meantime, we hope the resources in this article will help you make a more informed decision about your loved one’s care.<img src="https://counter.theconversation.com/content/123449/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;">
Lee-Fay Low, Associate Professor in Ageing and 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/how-to-check-if-your-mum-or-dads-nursing-home-is-up-to-scratch-123449" target="_blank">original article</a>.
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How to check if your mum or dad’s nursing home is up to scratch: Lee-Fay Low

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Sydney rents have recorded their biggest annual fall in more than a decade amid the final throws of the city’s record construction boom.
But cheaper rent may not last much longer, according to the latest quarterly Domain Rental Report.
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<div id="adspot-1x1_300x250-pos-2" class="ad">The Sydney weekly median unit rent declined 4.6 per cent over the year to $520.</div>
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<div class="ad">Renters were $25 a week better off as rents returned to 2016 prices.</div>
Domain research analyst Eliza Owen noted Sydney’s vacancy rate had tightened to 2.9 per cent, suggesting that more rental properties are finally being leased.
Ms Owen said it could signal an end to falling rents because construction had slowed significantly in Sydney.
“Rental prices could be bottoming out in the September quarter,” Ms Owen said.
“The market will probably start to turn just because we’ve got steady population growth against a decline in construction.”
Meanwhile Melbourne’s unit rents are $10 a week higher than this time last year, at a median $420 a week.
<div class="in-content-ad">
<div id="adspot-1x1_300x250-pos-2" class="ad">Its apartments have become so popular that it now costs almost as much to rent one as a house, the Domain report</div>
<div class="ad">said.</div>
<div class="ad"> </div>
<div class="ad">The median Melbourne house rent was $430 a week, which was unchanged over the past year. </div>
Domain noted over the past two years Melbourne house rents have only increased by 2.4 per cent or $10.
The rental vacancy rate was also rising, from 1.4 per cent to 1.8 per cent over the past 12 months.
Canberra’s median weekly asking rent for houses has stabilised at $550 per week, Domain’s latest rental report showed.
The units median stayed at $470 per week, but year-on-year up 4.4 per cent – or $20. 
<div class="in-content-ad">
<div id="adspot-1x1_300x250-pos-2" class="ad">Canberra house rents remain the most expensive of the capital cities with the gap between Sydney and Canberra’s median widening.</div>
<div class="ad"> </div>
<div class="ad">Brisbane asking rents for units rose 1.3 per cent to a median $380 a week over the past year.</div>
<div class="ad">
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<div id="adspot-1x1-pos-5" class="ad" data-google-query-id="CIbP9eqUkOUCFVeEcAod51ICjw">
<div id="google_ads_iframe_/31694718/domain.com.au/news/qld_3__container__"><iframe title="3rd party ad content" name="google_ads_iframe_/31694718/domain.com.au/news/qld_3" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" width="1" height="1" data-google-container-id="7" data-load-complete="true" data-integralas-id-1a0460e8-a5ba-2d49-7701-ce19371e0f7b=""></iframe></div>
</div>
</div>
<div class="in-content-ad">
<div class="ad"> </div>
<div id="adspot-1x1_300x250-pos-2" class="ad">Brisbane house rents also rose 1.3 per cent to a median $405 over the same time period.</div>
The combined vacancy rate fell 0.1 percentage points to 2.2 per cent during the September quarter.
Median asking rents for Perth houses grew 5.7 per cent in the year to September to $370 per week, which was its strongest annual growth rate since 2013.
<div class="in-content-ad">
Perth units also experienced a rise in rents year-on-year, at 3.3 per cent to a median of $310.
</div>
</div>
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Landlords face difficulties in securing rent rises from tenants 

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Walker Corporation, one of Australia’s largest property developers, has partnered with two wellness operators, Wellineux and Universal Fitness at its Collins Square and Parramatta Square precincts.  
Walker Corporation will soon welcome Wellineux to its Collins Square complex in Melbourne, with plans to launch Wellineux’s new wellness studio, Mellobarre, inside the precinct next month.   
Mellobarre has been designed to provide a range of wellness programs and initiatives, including, pilates, remedial massage, hot yoga, and workshops.
About 30,000 workers and visitors come to Collins Square every day.     
At Walker Corporation’s 4 Parramatta Square development under construction in Sydney, Universal Fitness recently signed a 10 year lease.  
David Gallant, Chief Operating Officer at Walker Corporation, said: “Walker is committed to delivering a range of health and wellbeing solutions to the workforce of corporate organisations in both our Melbourne and Parramatta precincts.  
“We have listened to our tenants who are keen to see an improvement in the health and wellness standards of their staff, improving their quality of life and productivity.”
The Parramatta Square facility is expected to open in November 2019.
It will provide the latest technology and equipment, personal training, and a variety of group classes, such as zumba, pilates and yoga.  
The facility will also offer the expected 23,500 people who will be moving into Parramatta Square an experience energiser and sleeping pods, oxygen chairs, meditation rooms, along with everyday convenience services, such as laundry and health food.    
“The future of the commercial environment goes beyond sustainable development to deliver an all-encompassing holistic approach to workplace health and wellness for tenants,” Gallant said.
“This will be teamed with complementary retail and entertainment options to deliver a satisfying experience for our occupants.”
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Walker Corporation embraces wellness centres at Parramatta Square

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Staff reporter

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