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Cadwell Construction &amp; Interiors went into administration in May with $4.2 million-worth of projects still in progress after costs on multiple projects blew out.
It occurred after a major project was put on hold, according to a creditor's report.
Unsecured creditor claims total $11.68 million. 
Jason Tracy and Kathryn Evans were appointed administrators on May 7 pursuant to Section 436A of the Corporations Act 2001.
South Western Sydney Local Health District is one of the company's largest unsecured creditors.
They are owed just over $1.8 million while Kincoppal Rose Bay School is owed almost $800,000.
South East Sydney Local Health District is owed more than $294,000, while Nepean Blue Mountains Local Health District have been left with a $63,000 hole.
"The minister needs to explain exactly how it has occurred that taxpayers are owed over $2 million on projects across Sydney and more importantly what steps are being put in place to prevent this happening again," said Opposition health spokesman told Nine Entertainment.
"This is money that should have been used to pay for more nurses, health workers and paramedics.
"That's certainly what the community expects government to do when they pay their taxes."
The company operated as head contractor providing commercial fit-outs and refurbishment services.
The company specialised in the healthcare, education and commercial office industries.
At the time of appointment, the company employed over 20 permanent staff.
The company experienced strong revenue growth from $15 million in FY17 to over $30m in FY18.
At the time of the administrators' appointment, there were 20 projects at various stages of completion.
The company was incorporated in NSW on 2 December 2009, with the registered office shown as 57 St Johns Road, Glebe. There are two directors, Soren Jenson and Hans Thomsen.
There are dozens of unsecured creditors listed as being owed up to almost half a million dollars.
The administrators made it clear that none of these creditors should expect to get any money back.
In March 2019, it became known to Cadwell management that the Browne Street Mental Health Community Centre project, which was previously showing a profitable return, reported a significant loss.
Cadwell had been building the Brown Street Mental Health Community Centre in Campbelltown, when management learnt the project was reporting a loss of more than $500,000, and was three months behind schedule.
It came after the company suffered delays and losses of about $960,000 on the Kincoppal-Rose Bay School year 12 learning hub project, and $700,000 on The Orchard Childcare Centre in Kirrawee in 2018 and 2019.
Around this period a large project for the NSW Department of Education, worth a reported $4.2 million, was also put on ice.
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j.ballantyne1990-6AQqhLzZaK

Caldwell Construction & Interiors collapses leaving creditors in the lurch for millions

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Glen Nevis, the historic Westbrook farm just north of Singleton, has been listed for sale.
<a href="https://www.realestate.com.au/property-other-nsw-westbrook-700035854" target="_blank">Glen Nevis</a> sits on 363 hectares which was part of around 5665 hectares originally granted to Robert and Helenus Scott in 1836.
The brothers bred blood mares and laid sound foundations for the great Hunter Valley thoroughbred studs.
The Scotts were left almost penniless with the depression of the late 1840s and their involvement in the failure of the Bank of Australia.
<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/2019/7/22/glen%20nevis%202.jpg" alt="">
The estate was broken up and the portion known as Glen Nevis was sold to Scottish born William Fraser in 1876.
It is believed he built the heritage listed late Victorian pastoral homestead. It has six bedrooms and a swimming pool nearby.
Fraser is also credited with naming the estate Glen Nevis because of the rolling hills and green valleys reminded him of his homeland. 
Glen Nevis was an extensive sheep and dairying property until the late 1970s, when the bottom dropped out of the wool market.
<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/2019/7/22/glen%20nevis%203.jpg" alt="">
It then became a beef cattle producing enterprise, as it remains today. It currently carries 90 breeders, with the property divided into nine paddocks with eight dams.
Glen Nevis comes with a near two kilometres of double frontage to Westbrook Creek.
Also on the property is Corrigan's Cottage, an 1860s built slab cottage which has been used as an antiques and collectibles store, as well as previously running as a B&amp;B.
Scott Bailey of Bailey Property and Livestock has the listing. 
It's been owned by the Willis family for over two decades.
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Landmark Hunter Valley rural property Glen Nevis listed

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A Maitland, South Australia mortgagee home has sold for $145,000. 
The property last sold for $155,800 in 2010.
The house spent two out of the last four years on the market.
Scott Bockmann of Ray White marketed the property.
Situated at <a href="https://www.realestate.com.au/sold/property-house-sa-maitland-131659830" target="_blank">11 Viewbank Crescent</a>, the abode comprises three bedrooms, one bathroom and a two car garage.
Set on a 945 square metre block, the recently painted home is described in the listing as ideal for a first home buyer or retiree.
Built in 2008, the DA for the home and additional carport construction were valued at $89,000 and $9,500 respectively.
From 2015 to 2017, the home was listed with an asking price of $190,000 reduced to $175,000.
In this most recent campaign the house sought $165,000.
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Maitland, SA mortgagee home sold at $10,000 loss 

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GUEST OBSERVATION
There’s a <a href="https://www.sbs.com.au/news/the-feed/forget-housing-grave-space-is-the-new-millennial-headache" target="_blank">lack of new cemetery space</a> in parts of Australia but we could solve that problem by burying the dead among newly planted vegetation belts near our towns and cities.
Burial Belt is a proposal we’ve been working on for reinventing the Australian cemetery landscape by creating near-limitless land for burial. Our idea is currently on exhibition at the <a href="http://oslotriennale.no/en/aboutoat2019" target="_blank">Oslo Architecture Triennale</a>, in Norway.
This new approach to burial would feature native trees rather than rows of headstones.
It would reforest cleared land and provide an alternative to <a href="https://www.theguardian.com/environment/2018/may/31/avoiding-meat-and-dairy-is-single-biggest-way-to-reduce-your-impact-on-earth" target="_blank">high-emissions livestock grazing</a>. It could even prevent suburban sprawl by safeguarding green space in perpetuity.
All it requires is a new way of thinking about what happens to our bodies when we die.
<a href="https://images.theconversation.com/files/294690/original/file-20190930-185369-1uzbli3.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/294690/original/file-20190930-185369-1uzbli3.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Burial space is running out in some Australian cemeteries. <a class="source" href="https://www.flickr.com/photos/quirky/6527021105/" target="_blank">Flickr/Wendy Harman</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
After life
Traditional burial in a local cemetery was the norm for most Australians until late in the 20th century. Today an increasing proportion of Australians choose cremation.
Unlike burial, cremation seems clean, efficient and free of the emotional weight of a sombre headstone in a grid of other graves. Cremation doesn’t have to take up space and ashes can be stored in a special place or dispersed into a favourite landscape.
Cremation now accounts for <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/science/2019-04-27/green-death-funeral-environment/10994330" target="_blank">more than 70% of all Australian interments</a>. That is not surprising when you consider that the average cost of cremation is <a href="https://www.gatheredhere.com.au/burial-cremation-everything-need-know/" target="_blank">less than half that of burial</a>.
Soaring land costs and dwindling reserves of existing cemetery space have also contributed to the high cost of burial.
Australian burial plots are among <a href="https://www.domain.com.au/money-markets/the-most-expensive-land-in-australia-might-be-graves-heres-the-problem-20180627-h11wzp-441795/" target="_blank">the most valuable real estate</a> in the country.
What else goes up in smoke?
Most people we speak to are surprised to learn that cremation is an energy-intensive and toxic process.
The energy consumed by a single cremation is equal to about <a href="https://www.theguardian.com/environment/2005/oct/18/ethicalmoney.climatechange" target="_blank">one person’s average monthly domestic use</a>.
Each <a href="https://www.foreground.com.au/environment/urban-burial-cemetery-landscapes/" target="_blank">cremation</a> releases on average about 50kg of CO2 and other toxins.
When you consider both the economic and environmental costs of cremation, the obvious solution is to provide more affordable burial space.
But with scarce land available for this purpose close to our city centres, any solution is contingent on persuading large numbers of people to not only return to burial, but to reconsider the entire cemetery experience.
A more natural burial
The Burial Belt proposal relies on a societal shift from traditional burial and cremation to natural burial. <a href="https://www.theguardian.com/lifeandstyle/2018/nov/11/pushing-up-trees-is-natural-burial-the-answer-to-crowded-cemeteries" target="_blank">Natural burial</a> does away with embalming, wooden coffins, concrete shafts and expanses of tarmac.
Bodies are placed in direct contact with the soil and buried within reach of microbes, where they can then truly return to the earth.
Natural burial is also <a href="https://www.gatheredhere.com.au/green-funerals-australia/" target="_blank">much cheaper to implement than traditional burial</a>.
Where would this take place? That’s where the Burial Belt proposal comes in.
Our future burial parkland already exists, just beyond the outermost suburban lots that ring Australian cities. This border land is currently occupied by sheep and cattle pastures but is increasingly being rezoned and amalgamated into an ever-expanding urban footprint.
Converting this territory into burial parkland, rather than housing subdivision, would protect whatever wildlife and vegetation remains in this cleared and denuded landscape, while curtailing urban sprawl.
Preserved forever
The key element of this proposed transformation is that, while natural burial land quickly becomes indistinguishable from bushland, current legislation provides for preservation of cemetery spaces in perpetuity.
Incorporating burial within the forest establishes a covenant over the revegetated grazing land that cannot be reversed. No more urban sprawl.
Fields and allotments would be individually acquired by public or private entities and converted into burial forest. Adjoining sections of forest would be gradually amalgamated into a single Burial Belt, a linear green swathe that halts further development and protects agricultural land and remnant habitat on the other side.
<a href="https://images.theconversation.com/files/294474/original/file-20190926-51434-1co1tt5.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/294474/original/file-20190926-51434-1co1tt5.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
View of a burial ring at the edge of a clearing in a proposed Burial Belt. Other Architects, Author provided
From an architectural point of view, there are many ways this general idea could be implemented to suit different site conditions and communities.
In the current proposal, large clearings are carved out of the immensity of the forest, with smaller hollows containing intimately-scaled burial spaces dispersed around the edges of these clearings.
Access could be provided via boardwalks and other temporary facilities similar to those found in national parks. The proposed forest cemetery requires little upkeep. Rather than returning periodically to sweep away leaves or lay flowers on a loved one’s traditional grave, visitors are free to let nature do its work.
There is no reason why the Burial Belt idea could not be widely implemented by local operators and councils as an effective method of funding habitat regeneration while providing for the community’s long term burial needs.
This article draws on UTS Master of Architecture design studios conducted by David Neustein and Grace Mortlock, and specific research contributions from UTS students Rowan Lear and Sora Graham.<img src="https://counter.theconversation.com/content/124259/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;">
David Neustein, Associate, School of Architecture, University of Technology 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/buried-beneath-the-trees-a-plan-to-solve-our-shortage-of-cemetery-space-124259" target="_blank">original article</a>.
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A plan to solve our shortage of cemetery space: David Neustein

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A Port Pirie, South Australia mortgagee home has sold for $66,750.
The home sold after it was placed on the market for 400 days. 
Sean Manfield of Wardle Real Estate marketed the property.
Situated at <a href="https://www.realestate.com.au/property-house-sa-port+pirie-129080722" target="_blank">8 Swan Street</a>, the three bedroom one bathroom abode has one carport space and six garage spaces.
Set on 864 square metres, the home was built in 1954.
The house was being offered for less than it sold for in 2004 when the home transacted at $102,500.
It saw its asking price slashed to $89,000 from $145,000 over the course of the life of the listing.
Following the 2004 sale a DA was submitted in 2007 for a garage/shed with a build value of $9,037.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
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Port Pirie, SA mortgagee sold for $45,000 loss

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EXPERT OBSERVER
Corporate Australia is taking action on climate change. Most recently, at the UN Climate Summit, Atlassian cofounder Michael Cannon-Brookes announced the A$26 billion Australian software company’s commitment to <a href="https://www.forbes.com/sites/daviddawkins/2019/09/23/atlassian-billionaire-presses-united-nations-on-net-zero-emissions-pledge/#6fdba03d96b5" target="_blank">net zero emissions by 2050</a>.
Net zero pledges like this are becoming more common but currently there is no way to really track momentum towards net zero emissions across different sectors of the economy.
Now, a <a href="https://www.climateworksaustralia.org/net-zero-momentum-tracker" target="_blank">Net Zero Momentum Tracker</a> initiative has been established by ClimateWorks Australia and the Monash Sustainable Development Institute to track emissions reduction commitments made by major Australian companies and organisations, as well as state and local governments.
The tracker aims to place all commitments to net zero emissions in Australia in one place and evaluate how well they align with the Paris climate goals.
<h2>Property sector tracking towards net zero emissions</h2>
We began by assessing Australia’s property sector. Last week we released a <a href="https://www.climateworksaustralia.org/publication/report/net-zero-momentum-tracker-property-sector-report" target="_blank">report</a> examining all property companies listed in the ASX 200, plus all of those required to <a href="/news">report their emissions</a> under the National Greenhouse and Energy Reporting Act.
Among the companies we looked at are Dexus, Mirvac, Stockland Corporation, GPT Group, and Lendlease. They develop, own or manage some of Australia’s largest corporate offices, commercial properties, retail centres, retirement villages, and residential developments.
The report found almost half – 43% – of Australia’s largest listed property companies have made commitments that closely align with the Paris Climate Agreement, aiming to achieve net zero greenhouse emissions before 2050 for their owned and managed assets.
Significantly, the six companies with the most ambitious net zero targets represent 36% of the ASX 200 property sector. Among these six, several major companies – Dexus, Mirvac, GPT Group, and Vicinity – are aiming for net zero emissions by 2030, demonstrating the business case for strong climate action.
<h2>Sector leaders can inspire copycat action</h2>
By highlighting what action organisations are taking and how, the Net Zero Momentum Tracker initiative aims to encourage more organisations to make and strengthen commitments to reduce their emissions, in line with the goal of net zero emissions by 2050.
For example, Australia’s largest owner and manager of office property, Dexus, has a comprehensive strategy for reaching its goal of net zero emissions across the group’s managed property portfolio. This includes reducing energy use, shifting to renewable electricity, electrifying their buildings, and reducing their non-energy emissions from waste, waste water and air conditioning.
Of particular significance is Mirvac’s pledge to be “net positive” by 2030. This means the company aims to go beyond net zero, reducing emissions by more than its operations emit. Mirvac has established an energy company to install rooftop solar on their commercial buildings and is selling power to occupants, among other initiatives. The company also has a “house with no bills” pilot project, to explore how their upstream indirect emissions can be minimised for residential developments.
Another major company, the GPT Group, has extended its commitment beyond the assets it owns and manages to all buildings it has an ownership interest in, including buildings it co-owns or does not manage.
These companies will get multiple benefits from their action, including reduced operating costs, better health and productivity for occupants, and increased sales prices, rents and occupancy rates.
<h2>Need to accelerate action</h2>
While many property companies are tracking in the right direction, none of the companies we considered had net zero targets which comprehensively covered all of their emissions – such as those from co-owned assets, their supply chains and investments.
There is still significant opportunity for property companies to strengthen their commitments towards net zero emissions. This requires targets which address the full scope of direct and indirect emissions within each company’s influence, supported by detailed plans to achieve this.
By making these public commitments to reduce emissions, the property sector is helping build momentum towards achieving this goal across the entire Australian economy.
The next assessments to be undertaken by the Net Zero Momentum Tracker initiative include the banking sector and state and local governments.<img src="https://counter.theconversation.com/content/124264/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/amandine-denis-99925" target="_blank">Amandine Denis</a>, Head of Research, ClimateWorks Australia, <a href="http://theconversation.com/institutions/monash-university-1065" target="_blank">Monash University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/australias-biggest-property-companies-are-making-net-zero-emissions-pledges-now-we-can-track-them-124264" target="_blank">original article</a>.
Main picture source: AAP Image/James Ross
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Australia's biggest property companies are making net-zero emissions pledges – now we can track them

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CBRE has identified a 48% uplift in enquiry for Sydney apartment block sales in the past year.  
The asset class now receiving twenty percent more enquiry than office, development sites or retail investment asset classes, with CBRE fielding 26,000 enquiries for apartment block properties in the past year, including 3,500 in the last month.  
This comes as CBRE’s Metropolitan Investments team of Nicolas Heaton, Gemma Isgro, Nick Wheatley, Toby Silk, Paul Grasso, Jason Lowry, Matthew Fenn and Aaron Arias prepare to launch six apartment block assets to market within the next month, totalling 83 units with an estimated combined value over $50 million and an average yield of 4.5%. 
The apartment blocks to be offered for sale individually are:
<table border="0"><tbody>
<tr>
<td>Address</td>
<td>Number of apartments</td>
</tr>
<tr>
<td>111 &amp; 113 Edgecliff Road, Woollahra (pictured above)</td>
<td>24</td>
</tr>
<tr>
<td>50 &amp; 52 Warren Road, Marrickville (pictured below)</td>
<td>19</td>
</tr>
<tr>
<td>3 Mulwarree Road, Randwick</td>
<td>8</td>
</tr>
<tr>
<td>27-29 Macpherson Street, Waverley</td>
<td>6</td>
</tr>
<tr>
<td>21 Cooper Street, Paddington</td>
<td>5</td>
</tr>
<tr>
<td>2 Sutherland Street, Cremorne</td>
<td>21</td>
</tr>
</tbody></table>
<img src="https://www.urban.com.au/images/2019/9/18/50%20%2052%20Warren%20Road%20Marrickville.JPG" alt="">
Heaton said apartment block investments offer buyers a far greater yield than the return offered by banks or bonds, with far less risk.
"The icing on the cake is the ability to strata and sell down or totally redevelop in the future, driving higher returns over the life of the investment.”  
Gemma Isgro, noted apartment block buyers are looking to purchase an investment vehicle with an initial return of around 3-4%.
"These investments also provide a land bank for future redevelopment, potentially seeing strong total returns of around 10%,” Isgro said.
While apartment blocks are traded regularly, CBRE is the first and only real estate agency to create a specialised team focusing on this asset class.  
“Previously vendors turned to their managing agent to sell apartment block assets but with the creation of the CBRE Apartment Block team five years ago we are uniquely positioned to offer vendors a broader reach of buyers locally, interstate and offshore,” Heaton noted. 
Recent CBRE managed apartment block sales have bucked the trend of low buyer activity in the traditional residential apartment market, including:
<table border="0"><tbody>
<tr>
<td>Month</td>
<td>Address</td>
<td>Number of enquiries generated</td>
<td>Sale price</td>
<td>Gross yield</td>
</tr>
<tr>
<td>
September 2019
</td>
<td>20 Alexandra Street, Glebe (pictured below)</td>
<td>660</td>
<td>$5.25m</td>
<td>3.1%</td>
</tr>
<tr>
<td>August 2019</td>
<td>10 Henrietta Street, Waverley</td>
<td>460</td>
<td>$20m</td>
<td>3.1%</td>
</tr>
</tbody></table>
 <img src="https://www.urban.com.au/images/2019/9/18/20%20Alexandra%20Street%20Glebe.JPG" alt="">
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Whole apartment block enquiries soar as $50 million portfolio hits the market

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The Fraser Coast population continues to increase at a slow, steady pace with the years between 2015 and 2018 fluctuating at between 1.16% and 2.03%, according to the latest Herron Todd White (HTW) residential report. 
The report notes growth projections for the Fraser Coast population have been forecast to increase from 108,543 in 2019 to 147,099 in 2036, equating to an overall 35.52% rise and an additional 22,800 dwellings.
"Recent migration trends have been led by retirees, as well as families of both young and older parents," the valuation firm said. 
These new residents have largely migrated from other south-east Queensland municipalities, including Gympie and South Burnett areas.
"Affordability is seen as a major driver for population growth with particular focus on the coastal lifestyle," the valuation firm added. 
"There is also demand for dual occupancy properties for older parents or young adults residing with combined incomes that improves affordability for housing."
The Fraser Coast Regional Council considers the area to have a large supply of future residential land with targeted areas such as Hervey Bay – South West and the Nikenbah-Dundowran Future Growth Area, located on the fringes.
A three bedroom house in Nikenbah has recently been sold for $325,000.
The home at<a href="https://www.realestate.com.au/sold/property-house-qld-nikenbah-131719222" target="_blank"> 57 Samarai Drive</a> (pictured below) comprises three bedrooms, separate living room, open plan living/kitchen/dining area, and garden. 
It's located close to schools, hospital and Stockland shopping centre. 
<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/2019/9/26/nikenbah.jpg" alt="">
Burrum Heads, Toogoom, Craignish and Dundowran Beach have also been identified.
A two bedroom duplex at <a href="https://www.realestate.com.au/property-duplex+semi-detached-qld-burrum+heads-131866478" target="_blank">2/10 Bentwood Street, Burrum Heads</a> (pictured below) is on the market with a price guide of $289,000.
Located just two streets back from the beach, the home comes with two bedrooms, kitchen with stone bench tops, and attached garage. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/26/burrum%20heads.jpg" alt="">
Closer to Maryborough, modest growth is expected for the western and southern hinterland for rural residential estates and areas near the Bruce Highway, the HTW report noted. 
<a href="https://www.propertyobserver.com.au/images/2019/9/26/population%20growth.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/2019/9/26/population%20growth.jpg" alt="">
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Hervey Bay's affordability and coastal lifestyle drive population growth: HTW residential 

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The Sunshine Coast property market is heavily reliant on population increases, according to the latest Herron Todd White (HTW) residential report. 
The report suggests the Sunshine Coast has traditionally been one of the fastest growing regions in Australia.
<a href="https://www.propertyobserver.com.au/images/2019/9/25/sunshine%20coast%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/2019/9/25/sunshine%20coast%201.jpg" alt="">
"When we then look at the volume of residential property sales taking place on the Sunshine Coast in recent years, the correlation between population growth and sale volumes can be seen," the valuation firm said. 
"This graph shows that in 2003 when the population spiked, sale volumes were highest, then in 2011 when the growth rate bottomed out, sale volumes followed accordingly."
A two bedroom beachfront apartment in Caloundra has been sold for $450,000 (pictured below). 
Located at <a href="https://www.realestate.com.au/sold/property-unit-qld-caloundra-131641478" target="_blank">3/19 Bulcock Beach Esplanade</a>, the apartment comes with two bedrooms, open plan living areas with balcony, kitchen and two secure garages. 
It's close to the Caloundra CBD with just 200 metres from restaurants, cafés, and parks.
<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/2019/9/26/caloudra.jpg" alt="">
A four bedroom house with panoramic views in Maroochy River has been sold for $830,000.
The hilltop home at<a href="https://www.realestate.com.au/sold/property-house-qld-maroochy+river-130623542" target="_blank"> 18 Valdora Road</a> (pictured below) comes with four bedrooms, open plan living area, gourmet kitchen and resort style pool.
Other features include BOSE surround sound system, alarm system and ample water storage. 
<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/2019/9/26/maroochy.jpg" alt="">
"It’s pretty hard to say if any one area is attracting more out of towners than others" the valuation firm added. 
"Most of our locations on the Coast seem to be having their fair share of new arrivals into their communities though it would be fair to say that suburbs along the coastline would be top of the list.
"Given the increased demand for housing, we mainly the upgrade to the Bruce Highway. Travel times have been lessened and the affordability in the area has made it very popular." 
The inner rural residential ring around the township has increased in demand as have some of the character houses in town.
As a result, some new businesses have been opening up in a number of industries.
<a href="https://www.propertyobserver.com.au/images/2019/9/25/sunshine%20coast%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/2019/9/25/sunshine%20coast%202.jpg" alt="">
The report notes the increase in population of the Sunshine Coast assists in underpinning property values. The issue then lies in jobs and infrastructure.
"It is good that the University Hospital is not at full capacity, the new airport runway is yet to be finished and we have a new town centre, however just driving around the Coast, you do feel that there are more and more people on the roads. It used to be in holiday periods but now feels like it’s all the time.
"The question is whether those roads and other services will keep up with the growth," the valuation firm concluded. 
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Sunshine Coast population growth assists in underpinning property values: HTW residential 

<html><body>
Geelong’s demographic profile continues to diversify, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took look at what's bring new residents to residential markets, or conversely, driving them away. 
The report notes in 2011, the top five countries of birth for people in Geelong apart from Australia were England, Italy, New Zealand and Croatia.
In 2016, the structure of the top five countries of birth had changed with India taking fourth place in the chart and making up almost 1% of the total population of Geelong.
Those born in South-East, North-East Asia, Southern and Central Asia have increased significantly in numbers and percentage not only in Geelong but across Melbourne and Victoria as a result of overseas migration.
According to Australian census data, Geelong’s population is continually growing in size. 
Looking back on the last eight years of Geelong’s population change to 2016, the growth rate was very strong, ranging annually from 1% to 2%.
"Geelong is characterised by the recently revitalised Waterfront precinct and newer residential areas of Geelong further out of the city’s CBD," the valuation firm said. 
"Geelong is still affordable for buyers representing strong opportunities for investors and owner-occupiers."
Though the median house price for greater Geelong as at June 2019 was between $400,000 and $600,000, buyers could still get a near-new, three or four-bedroom house for close to $400,000.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-lara-131503622" target="_blank">17 Celesta Road, Lara</a> (pictured below) has recently been sold for $406,000.
The home comprises three bedrooms, open plan kitchen, single garage, and landscaped front and backyards.
It's located five minutes away from Lara Shopping Village, the Centreway shopping strip, Lara library and Community Centre. 
<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/2019/9/26/17%20Celesta%20Road%20Lara%20.jpg" alt="">
Another example was a four bedroom family house at <a href="https://www.realestate.com.au/sold/property-house-vic-armstrong+creek-130780702" target="_blank">6 Chucklecreek Lane, Armstrong Creek </a>(pictured below) which was sold for $456,000.
The home comes with four bedrooms, kitchen with gas cooktop, remote double garage and split system cooling.
It's located walking distance to public transport, parks/reserves, The Village shopping centre and Armstrong Creek school.
<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/2019/9/26/armstrong%20creek.jpg" alt="">
"The recent local infrastructure projects including an extension of railways, continuous improvement of Geelong’s activity centres together with Geelong based Deakin University community operations undoubtedly influence the growth of the local economy and stimulate potential property market participants."  
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Geelong demographics shifting as migration boosts population: HTW residential 

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Staff reporter

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