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The NSW North Coast has very strong underlying rural lifestyle values for many properties, particularly those closer to the beaches and towns, according to the latest Herron Todd White (HTW) rural report. 
The report suggests there are many smaller scale farms operated on a weekend basis as the owners are employed off farm or the farm is totally managed or operated by share farmers or lessees. 
Many of these farms are not viable operations on a stand alone basis.
Entry level for macadamia nut farms is possible below $1 million for build up style blocks without a house and sheds.
The market below $1.5 million is tight if there is a reasonable house, sheds, some plant and equipment and a mature macadamia orchard of a minimum of ten hectares.
"At present, ten hectares of mature macadamia orchard, whilst quite profitable at current commodity prices if operated well, is not considered a viable stand alone operation having regard to some potential variations in seasonal conditions and average commodity prices over a longer term historical period," Paul O’Keeffe, the HTW valuer commented. 
"At present, the market for viable stand alone operations likely exceeds $2 million.
"There has been capital growth in recent years as the commodity price and the rural residential property market has firmed."
Listings of macadamia farms for sale are limited, however the analysis of sales indicates $75,000 to $100,000 per mature orchard hectare excluding structural improvements, crop, plant and equipment and balance land, with the top end of the range expected to have very good presentation, row spacings, production and verifiable history of production.
There are various horticultural pursuits including blueberries, avocados, nurseries etc, however in very general terms, over $1.5 million would be required to be considered as viable allowing for seasonal fluctuations in prices and conditions.
For sugar cane farms, there are build up style blocks that sell for below $500,000, but they would not be viable operations on a stand alone basis.
The report notes that on current commodity prices, many sugar cane farms are not particularly profitable.
Macadamia nut farmers have been active purchasers of sugar cane farms, but some farms that have sold for the purpose of continuing to grow sugar cane have been in the $1 million to $2 million price bracket in good cane growing areas.
Values above $1.5 million would likely include a house, sheds and some plant and equipment, but a lift in commodity prices is required for these to be strictly considered stand alone viable operations at the moment.
These farms, excluding structural improvements, crop, plant and equipment and balance land indicate in the range of $10,000 to $15,000 per sugar cane cultivated hectare.
The most apparent avenue for capital gain is in the underlying rural residential value and from external industries demanding the land, such as the macadamia industry.
The macadamia purchasers have paid over $20,000 per hectare for some cane land, so this is a logical point of capital gain.
Dairy farm sales are very few. Beef cattle grazing sales are common and there are many entry level build up style blocks that can start from relatively low value levels below $500,000.
Viable stand alone beef grazing properties have not been common over the past 12 months.
Investments in the $2 million and $3 million range would be expected to obtain some sort of viability.
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j.ballantyne1990-6AQqhLzZaK

NSW North Coast shows strong rural lifestyle values: HTW rural

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Ravenford, a two storey historic home in the NSW Northern Rivers town of Grafton has hit the market for the first time in over 20 years. 
It has been listed with a price guide of $410,000 by Adam Crawley from McKimms Real Estate Grafton. 
Built in around 1880, the original house was owned by Captain George Greenaway – a well known river boat captain.
The second owner of Ravenford, WH Henson purchased it in 1898 and had converted it to an even grander two storey residence with bay windows by 1900.
Nestled on a 530 square metre block, the weatherboard home at <a href="https://www.realestate.com.au/property-house-nsw-grafton-131640638" target="_blank">36 Villiers Street </a>comprises four bedrooms, living areas, sitting room, two kitchens, verandahs and garden. 
Other historical features of Ravenford include ornate pressed metal and polished timber ceilings, window furnishings and paint schemes. 
<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/2019/8/1/ravenford%202.jpg" alt="">
There is a semi-separate flat can be accessed by a different door or internally. 
Ravenford is both Heritage (local) and National Trust (national) listed and listed also with the Society of Architects (national) in their list of most significant buildings in Australia.
It was featured in Historic Places of Australia: Volume 2 by Australian Council of National Trusts.
<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/2019/8/1/ravenford%203.jpg" alt="">
The location is within two city blocks of most of the CBD. 
The home had been listed at one point in 2017, and was described as being no longer needed by the owners.
 
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Heritage listed Grafton home hits the market

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The newly appointed NSW Governor Margaret Beazley has sold her Lavender Bay family home.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-lavender+bay-131565610" target="_blank" rel="noopener noreferrer">Bay View Street</a> property had a price guide of $11.5 million.
Beazley bought it in 1989 for $1.3 million.
There were 45 inspections in the first week.
<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/2019/8/1/lavendar%20bay2.jpg" alt="">
The elevated family home comes with panoramic views of the waters, Harbour Bridge and Opera House.
It comprises five bedrooms, modern gas kitchen, lounge, dining room, library, and court gardens.
<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/2019/8/1/lavendar%20bay3.jpg" alt="">
It's just a stroll to McMahons Point Village with boutiques, restaurants and bars, Lavender Bay Ferry, buses, and North Sydney Station. 
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NSW Governor Margaret Beazley sells Lavender Bay home

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GUEST OBSERVATION
Australia has been ranked as one of the top destinations to study internationally. The <a href="https://www.propertyobserver.com.au/https://www.topuniversities.com/city-rankings/2019" target="_blank">QS Best Student Cities Ranking</a> released yesterday, which incorporates feedback from more than 87,000 current and prospective international students, ranked Melbourne as the third-best city to study. Sydney came in ninth.
London and Tokyo were number 1 and 2 respectively out of the world’s 120 top student cities. Melbourne and Sydney were joined in the top 50 globally by Brisbane (22), Canberra (23), Adelaide (26, up 15 places from last year) and Perth (41).
These results are rigorous and evidence-based, drawing on a variety of indexes (such as livability and affordability) and the student survey. When it came to the quality of life index (known as desirability), QS director of research Ben Sowter said: "Six of the world’s 30 highest-performing cities for our Desirability indicator are Australian: a record bettered by no other nation."
These results are highly influential and clearly drive education decision-making. We know students wishing to study overseas take serious account of universities that score well on <a href="https://www.internationalstudentsurvey.com/" target="_blank">independent rankings</a>, for instance, and there’s no reason why these should be any different.
So the performance of Melbourne and Sydney on this international platform speaks volumes for the position of the country as a study destination.
<hr>
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What makes a good student city?
QS uses six metric groups to compile the ratings:
<ol>
<li>
desirability: will students enjoy a high quality of life here? Do students want to study in this city?
</li>
<li>
university rankings: how many top-ranked universities are in the city?
</li>
<li>
employer activity: will a chosen city have job opportunities after graduation?
</li>
<li>
student mix: what proportion of a city’s population is made up of students? How diverse is that student population?
</li>
<li>
affordability: can students afford to study here?
</li>
<li>
student voice: what do students studying in this city think of it?
</li>
</ol>
So, how should we read this?
In assessing quality of life the QS looks to measures such as the Economist Intelligence Unit’s <a href="http://www.eiu.com/Handlers/WhitepaperHandler.ashx?fi=The_Global_Liveability_index_2018.pdf&amp;mode=wp&amp;campaignid=Liveability2018" target="_blank">Global Liveability Index</a> where in 2018 Melbourne, Sydney and Adelaide were in the top ten of the 140 cities surveyed.
Melbourne held the <a href="https://theconversation.com/the-worlds-most-liveable-city-title-isnt-a-measure-of-the-things-most-of-us-actually-care-about-101525">top spot</a> for seven consecutive years, only this year being edged out by Vienna by 0.7 of a percentage point.
Ben Sowter said: "This year’s edition of the QS Best Student Cities Ranking indicates that one of the primary incentives for any prospective international student to study in Australia is the high quality of life on offer there."
Quality of life includes a range of elements such as recreation facilities, public services and transport, housing and the natural environment. According to <a href="https://mobilityexchange.mercer.com/Insights/quality-of-living-rankings" target="_blank">Mercer’s 2019 Quality of Living City Rankings</a>, Melbourne and Sydney are in the top 20 worldwide.
And then there is safety.
There have been some recent challenges for Australian universities in the area of <a href="https://theconversation.com/recent-campus-attacks-show-universities-need-to-do-more-to-protect-international-students-120082" target="_blank">student safety</a>, including <a href="https://www.dailymail.co.uk/news/article-7096241/International-students-Australian-university-robbed-bashed-recent-attacks" target="_blank">robberies and attacks</a> on international students at a Melbourne university.
No destination can completely guarantee the personal safety of its residents and visitors. But looking at a <a href="https://www.numbeo.com/crime/rankings.jsp">variety of sources</a> and the <a href="https://thepienews.com/news/students-in-australia-feel-safe-worry-about-work/">comments of students themselves</a>, the evidence suggests Melbourne and Sydney in particular are very safe cities overall, ranking in the top 12 worldwide for <a href="https://dkf1ato8y5dsg.cloudfront.net/uploads/5/82/safe-cities-index-eng-web.pdf" target="_blank">digital, health, infrastructure and personal security</a>.
When it comes to the student mix indicator, the QS ranking puts Melbourne as the world’s best city. This is a measure that includes tolerance and inclusion, reflecting the importance for many international students of choosing a study environment that is likely to be hospitable to their own cultural background, lifestyle and identity.
While there are admittedly periodic reports in the media about <a href="http://www.southasiatimes.com.au/news/?p=1028" target="_blank">racist behaviour</a> in Melbourne, and the government is <a href="https://www.sbs.com.au/news/government-to-consider-ways-to-protect-international-students-on-and-off-campus" target="_blank">well aware of this</a>, Melbourne is widely recognised as culturally diverse, tolerant and welcoming. On these measures we can trust the QS ranking.
Melbourne came third in the student voice, which accounts for the experience and study destination preferences of more than 87,000 students.
Sydney ranked second on student mix and ninth on employer activity, obtaining a job at the end of their studies being a <a href="https://www.internationalstudentsurvey.com/" target="_blank">very important consideration</a> for international students.
<hr>
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The QS results are in keeping with the high levels of international student satisfaction reported for Australian higher education, especially for <a href="https://internationaleducation.gov.au/research/research-papers/Documents/ED19-0047%20International%20Student%20Survey%20HIGHER%20EDUCATION%20Infographic_ACC-03.pdf" target="_blank">safety, living, learning and support.</a>
Where we can improve?
The 2019 QS ranking shows Australian universities are at a slight global disadvantage on measures of affordability. This is an observation previously made in The Times Higher Education <a href="https://www.timeshighereducation.com/student/advice/cost-studying-university-australia" target="_blank">World University Rankings</a>.
Australian costs are generally <a href="https://www.slideshare.net/meetuniversity/average-cost-of-studying-abroad-breakdown-country-comparison" target="_blank">comparable</a> to those of the US and the UK, but far higher than Japan, Spain, Germany or Russia, which are all serious competitors in the international student market.
But cost is not the only consideration. A <a href="http://www.cais.ca/uploaded/CAIS_Connect/Boarding_Program/the-value-of-education.pdf" target="_blank">benchmark HSBC report</a> of 4,592 parents in 15 countries around the world said they would consider sending their child abroad for a better university education.
And this is where Australia has a competitive advantage.
We make up for cost when it comes to education quality. The QS results endorse government initiatives such as <a href="https://www.studymelbourne.vic.gov.au/">Study Melbourne</a> and <a href="https://www.study.sydney/">Study Sydney</a> that provide international students with employment assistance, career guidance and day-to-day living support – all of which contribute to a positive international student experience.
While the results are commendable we, shouldn’t be complacent. We know the <a href="https://www.internationalstudentsurvey.com/" target="_blank">biggest concerns</a> for prospective students relate to everyday life rather than their studies.
Issues around the cost of living, finding accommodation and employment, and safety rank among the greatest concerns. In the Australian context dealing with racism needs to be <a href="https://umsu.unimelb.edu.au/stopping-racism-starting-at-melbourne/" target="_blank">urgently addressed</a>.<img src="https://counter.theconversation.com/content/121238/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;">
Jeff Wilks, Adjunct Professor, Southern Cross University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/international-students-rank-melbourne-and-sydney-in-worlds-top-cities-but-we-can-make-them-feel-safer-121238" target="_blank">original article</a>.
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International students rank Melbourne and Sydney in world’s top cities – but we can make them feel safer

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GUEST OBSERVATION
In the weeks after the 2019 federal election, the Sydney Morning Herald <a href="https://www.smh.com.au/federal-election-2019/voter-turnout-at-record-low-after-young-people-disengage-20190530-p51sol" target="_blank">reported</a> that the turn-out of voters was the lowest since the introduction of compulsory voting in 1925.
It also reported there had been high rates of absenteeism of young voters who, while willing to participate in the recent marriage equality survey, had “turned their back on democracy” in the federal election.
The article continues a narrative about a decline in voter participation, which the federal parliamentary Joint Standing Committee on Electoral Matters (JSCEM) review of the the 2016 election <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Electoral_Matters/2016Election/2016_election_report/section?id=committees%2freportjnt%2f024085%2f26059" target="_blank">described</a> it as a “concerning trend”.
But it turns out the SMH report – which was based on the actual vote count undertaken by the Australian Electoral Commission – got it wrong, because it reported on the 2019 result before the count had been completed. In fact, voter participation in 2019 was actually 0.88% <a href="https://tallyroom.aec.gov.au/HouseTurnoutByState-24310.htm" target="_blank">higher</a> than in 2016.
Despite this, the national participation rate hasn’t returned to the 95% rate achieved in 2007. So what’s behind the apparent decline in civic duty?
Political disengagement is one factor, but data show that low turn-out also happens in seats with a high proportion of Indigenous people, and seats with a high proportion of renters.
<h2>Electorates with the lowest participation</h2>
Looking at the participation performance of individual federal electorates can show what might be happening.
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Among the litany of divisions with the lowest participation rates, two distinct electorate clusters emerge of what might be thought of as under-performing seats.
By far the most consistent under-performing seats are remote regional districts including Lingiari and Solomon (Northern Territory), Durack (Western Australia and previously known as Kalgoorlie) and Leichhardt (Queensland).
These are also the four federal seats with the highest proportion of voters who identify as Indigenous, according to the <a href="https://www.propertyobserver.com.au/https://quickstats.censusdata.abs.gov.au/census_services/getproduct/census/2016/quickstat/036" target="_blank">2016 Australian census</a>. In the case of Lingiari, 44.5% of residents identified as being Aboriginal or Torres Strait Islanders, 17.9% in Durack, 9% in Solomon and 6% in Leichhardt.
The next cluster of persistent under-performing seats are inner urban divisions whose residents are among the best educated and most affluent in the nation. This includes Sydney, Wentworth, Melbourne and Melbourne Ports (these days known as Macnamara).
They are also characterised by their comparative youthfulness. These are seats that have significantly larger proportions of citizens in the 19 to 39 year age groups than the national age distribution and, indeed, seats like Lingiari and Durack.
<a href="https://images.theconversation.com/files/286557/original/file-20190801-169676-ojlks.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/286557/original/file-20190801-169676-ojlks.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Based on data from the Australian Electoral Commission. Author provided
The relatively low turn-out rate and youthfulness of these inner urban electorates supports the argument that young people are enrolling, but not voting.
While this might be the case, it’s also true that the rate of participation in the inner urban cluster of seats is much stronger than for the remote rural cluster.
In short, lower election turn-out rates tend to be associated more with seats with comparatively higher proportions of Aboriginal and Torres Strait Islander voters than with youthful electoral districts.
This is an interesting aspect to electoral behaviour, especially when there is so much debate about how Aboriginal and Torres Strait Islanders could be given greater input to the political process by way of reforming the Australian constitution.
<h2>The role of renting</h2>
These two clusters of seats could not be more different from each other. And yet they do share a significant socioeconomic characteristic.
Both the inner urban and remote seat clusters are characterised by the comparatively large number of citizens with rented, rather than purchased, accommodation.
The 2016 census found that slightly more than 30% of Australians were renters. In contrast, 60% of residents in the seat of Sydney and 52.9% of residents in Lingiari were renting.
With renting comes the possibility of citizens changing their residential address and this, in turn, can make it difficult to maintain the electoral roll.
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<h2>A political crisis?</h2>
Are these trends a sign of a political crisis, or are they simply “concerning” (to borrow from the <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Electoral_Matters/2016Election/2016_election_report/section?id=committees%2freportjnt%2f024085%2f26059" target="_blank">JSCEM report</a>)?
If the data indicates disengagement, it’s doing so at a fairly minimal rate. And at the last election, attendance rates improved compared with the previous election.
What’s more, the correlation of renters to under-performing electoral districts might even indicate that the problem is administrative rather than the product of civil disobedience.
Having said that, if the government feels the need to address the turn-out rate, they can use coercive powers to reinforce compulsory voting. This would involve imposing bigger fines for those who do not turn up to vote.
The existing legislation allows for a significant fine to apply (one penalty unit) when a voter hasn’t turned up. But the law as it currently stands does allow a wide range of excuses to permit a much less <a href="http://www8.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/cea1918233/s245">onerous sanction</a> of a A$20 fine.
Were the parliament to be truly concerned about participation it could seek to alter the act and strengthen the hand of the AEC.<img src="https://counter.theconversation.com/content/120494/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;">
Nick Economou, Senior Lecturer, School of Political and Social Inquiry, Monash University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/renters-hold-the-key-to-low-voter-turn-out-at-federal-elections-120494" target="_blank">original article</a>.
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Renters hold the key to low voter turn-out at federal elections

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GUEST OBSERVATION
What can be best measured gets best done, even if the scorecard is “balanced”. 
Casual observers of the <a href="https://theconversation.com/banking-royal-commission-no-commissions-no-exemptions-no-fees-without-permission-hayne-gets-the-government-to-do-a-u-turn-110974" target="_blank">financial services royal commission</a> might be forgiven for thinking the days of sales-based commissions being paid to bank and insurance staff were over.
Apparently not.
The Australian Prudential Regulation Authority’s discussion paper on <a href="https://www.apra.gov.au/sites/default/files/discussion_paper_strengthening_prudential_requirements_for_remuneration.pdf" target="_blank">Strengthening Prudential Requirements for Remuneration</a>, released last week, condones the ongoing use of “balanced scorecards” for determining bonuses.
While possibly not as bad as the old bonus systems based only on sales or profits, a “balanced scorecard” – which also includes less tangible outcomes such as “customer satisfaction” – is not a good solution.
In a study presented at the 2019 Financial Markets &amp; Corporate Governance Conference, I and my colleagues Le Zhang from Macquarie University and Dominik Steffan from the Technical University of Munich find that balanced scorecards produce significantly worse outcomes than no bonuses at all, and create environments in which <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3317344" target="_blank">bad behaviour is more easily tolerated</a>.
Take 318 bankers…
We asked 318 finance professionals to take part in 20-minute trading sessions in which they could transact up to 60 times, making decisions that in our simplified balanced scorecard approach were rewarded on the basis of both profit and following risk rules. In the other scenario, the reward was a flat payment, unrelated to performance.
We found that the proportion of people who chose to consistently apply the rules dropped 16% under the balanced scorecard approach.
For those who sometimes violated the rules, compliance <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3317344" target="_blank">dropped 24%</a> when paid under the balanced scorecard approach.
One reason might be that financial criteria such as sales and profits are easy to measure, and are audited, whereas other criteria such as following rules and providing good service are difficult to measure, at least in the short-term.
‘Balanced’ is unbalanced
Customer outcomes are often measured with customer surveys such as the infamous <a href="https://www.netpromoter.com/know/" target="_blank">net promoter score</a> that asks whether they would keep using the service or recommend it to others.
It works well for services such as <a href="http://www.netpromotersystemblog.com/2015/10/29/restaurant-chains-discover-the-special-sauce-of-net-promoter-feedback/" target="_blank">restaurant meals</a>, where customers can quickly form valid judgements. But when it comes to financial services, the quality of what they have been offered might not become apparent for years. When customers are disengaged or have low levels of financial literacy, or when products are complex, the quality may never be apparent!
Complaints data bring other problems. One is that often customers don’t bother to complain. Another is that firms sometimes “pay off” disgruntled customers, leaving them satisfied but the underlying problems unresolved. The customers who never complain are left to suffer from poor practices and the complaints data give no meaningful information.
Another popular solution is to rely on manager ratings in the performance assessments that determine bonuses. Manager ratings are often not credible. Academic researchers find that they are as much influenced by the managers <a href="https://www.aaajournals.org/doi/abs/10.2308/accr-10099" target="_blank">own incentives and preferences</a> as they are by performance.
Managers need not tell the truth
Managers keen to retain top performers in sales and profits can give them high ratings <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/radionational/programs/backgroundbriefing/the-scandal-inside-anz/11141466" target="_blank">despite poor behaviour</a>. Even more worrying, subjective performance ratings can be prone to <a href="https://www.sciencedirect.com/science/article/pii/S1048984317306410" target="_blank">favouritism, collusion and extortion</a>.
Nobel prizewinner Bengt Holmstrom predicted years ago that the balanced scorecard wouldn’t work, in his landmark paper on <a href="https://heinonline.org/HOL/Page?handle=hein.journals/jleo7&amp;div=31&amp;g_sent=1&amp;casa_token=&amp;collection=journals" target="_blank">multitask principal-agent</a> analysis.
He found that when some criteria are easy to measure and others aren’t, employees will put most of their energy into the criteria that are easy to measure, in this case sales and profits. Balanced scorecards are inherently unbalanced.
What’s the solution? One might be deferrals – bonuses based on financial performance that are <a href="https://theconversation.com/confiscate-their-super-if-it-works-for-sports-stars-it-could-work-for-bankers-105833" target="_blank">held back for multiple years</a>.
Over time, and with active regulation, it would become obvious whether profits have been generated by fair means or foul. If foul, the bankers would not be eligible to receive what they thought they had earned.
A better idea might be to revert to a system of fixed salaries with no bonuses. It works for most Australians, and it used to work for bankers.
<a href="https://theconversation.com/profiles/elizabeth-sheedy-328210" target="_blank">Elizabeth Sheedy</a>, Professor - Risk governance, culture, remuneration, <a href="http://theconversation.com/institutions/macquarie-university-1174" target="_blank">Macquarie 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/how-not-to-police-financial-services-balanced-scorecards-dont-work-for-bankers-120899" target="_blank">original article</a>.
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Balanced scorecards don't work for bankers: Elizabeth Sheedy

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A Napperby, South Australia mortgagee has been sold for $90,000.
The house was originally listed for $138,000, before being slashed to $110,000.
Wayne White of Wardle Co Real Estate marketed the listing.
Situated at <a href="https://www.realestate.com.au/property-house-sa-napperby-127573318" target="_blank">158 Scenic Drive</a>, the property consists of three bedrooms and one bathroom.
Set on 3,237 sqm, the listing describes the home as a "hobby farm for a renovator."
It is located 10 minutes from Port Pirie.
The property features a partly renovated bathroom and four parking spaces, outside there is an old olive orchard, other trees and chook houses.
The circa 1960 built home has been on the market for over 500 days.
<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>
According to CoreLogic, in <a href="/developments/napperby-sa-5540">Napperby</a> the annual change in median price over the past 10 years is 1.9%.
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Napperby, SA mortgagee listing slashed 20% under offer

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EXPERT OBSERVER
The RBA meets on August 6 and releases the Statement on Monetary Policy on August 9. We think it is quite unlikely that the Board will decide to do a third consecutive cut at this meeting but remain comfortable with our view that the RBA will deliver additional 25bps cuts in October and February.
The Reserve Bank Board meets on August 6 to consider whether to extend the sequence of rate cuts in June and July for another month.
We think it is quite unlikely that the Board will decide to do a third consecutive cut at this meeting.
Following the cut in July, the Governor noted, “The Board will continue to monitor developments in the labour market closely and adjust monetary policy if needed to support sustainable growth in the economy and the achievement of the inflation target over time".
That statement compared with the June statement, “The Board will continue to monitor developments in the labour market closely and adjust monetary policy to support sustainable growth in the economy and the achievement of the inflation target over time".
The inclusion of the term “if needed” in the July statement indicates that the level of urgency for the next cut is lower in July than it was in June – implying that some time would be required to assess whether another cut was needed.
I wrote at the time of the release of the July Board minutes: “my experience is that when a central bank decides to pause, it often refers back to previous policy decisions. In the final paragraph of the July minutes, the Board notes “this decision, together with the reduction in the cash rate decided at the previous meeting, would assist in reducing spare capacity in the economy”.
Finally it is worth recalling the final paragraph of the speech which the Governor delivered after the Darwin Board meeting in July when he noted: “So we will be closely monitoring how things evolve over coming months.” The use of the plural (months) seems to be confirmation that there would be no urgency to move as soon as August.
On July 25th, we revised our forecast of the timing of the next rate cut from November to October. In addition we extended the easing cycle to include another, and final, cut, in February next year. We remain comfortable with that view.
The Governor’s Statement next week will be of interest particularly around whether he is planning to move as soon as September. Here we will certainly be interested in whether he persists with the “if needed” qualification. We favour that term still being used implying that, at least at the time of the meeting, the Board expects to hold fire in September.
Other themes will be consistent with the July statement are: strong employment growth but spare capacity in the labour market; housing conditions soft, although tentative signs of stabilisation in Sydney and Melbourne (CoreLogic reported house prices in Sydney and Melbourne lifted by 0.2% in July); inflation pressures subdued, although the central scenario remaining for trimmed mean inflation to be 2% in 2020; and the central scenario remaining for growth to be around trend.
These themes will give us an early signal of the revised forecasts for growth, inflation and unemployment which will be released with the August Statement on Monetary Policy on August 9. These forecasts are critical for gauging the Bank’s approach to policy and he will be testifying to Parliament that same morning.
Recall that when the last set of forecasts was released in May, the RBA forecast GDP growth at 2.75% in both 2019 and 2020. That is a benign outlook given that “trend” is assessed as 2.75%. However it is going to be difficult to credibly maintain the 2019 growth forecast at 2.75%.
Since the May Forecasts were released, GDP growth in the March quarter printed a low 0.4% and the partials for the June quarter are pointing to around 0.5%. A 0.9% read for the first half of the year requires 0.9% quarterly increases in each of the last two quarters.
Now we acknowledge that the second half of 2019 will be stronger than the first half with the benefits of the rate cuts, tax cuts, stabilising of the housing markets in Sydney and Melbourne, and lower AUD; but we certainly do not see growth lifting to an annualised pace outside 2.5-3.0%. It is most likely that the RBA will choose the 3% pace and lower the forecast for GDP growth in 2019 to 2.5% from 2.75%. That would provide a credible base for retaining the 2.75% forecast in 2020. We see the pace at nearer 2.5% in 2019 H2, ultimately pushing the RBA's forecast for 2019 back to 2.25% and 2020 to around 2.5%.
The June quarter Inflation Report provided the RBA with some welcome news. The trimmed mean inflation rate for the quarter printed 0.42%, above the Westpac forecast of 0.3%. This followed a 0.3% in the March quarter. We detected a stronger than expected pass through in clothing, footwear, household goods and cars from the low AUD.
With 0.3% in Q1 followed by 0.42% in Q2, the RBA can, with a large stretch, retain its forecast for the trimmed mean of 1.75% for 2019, making a drift up to 2% in 2020 a reasonable outcome. We expect the trimmed mean in the September quarter to print 0.3% for a rounded 1.5% for 2019. The RBA is likely to confront that reality for the November Statement, forcing it to delay the return of the trimmed mean inflation rate to 2% in 2021. For now, it will most likely continue to declare that trimmed mean inflation will be back within the 2-3% band in 2020.
So far, so good, but the unemployment rate forecast is likely to be a major problem for the RBA. Recall that in May, it forecast the unemployment rate to hold at 5.0% through 2019 and 2020. Unfortunately the rate for June has lifted to 5.24% against a May SOMP forecast of 5.0%. The problem is compounded by the 'rule-of-thumb' amongst economists that above trend growth is required to lower the unemployment rate. At best, the RBA will be forecasting trend growth in 2020, challenging any forecast that the unemployment rate will fall from the current 5.25%.
It will be this tension with the unemployment rate, which we expect to lift to 5.4% by year’s end that will trigger that 0.25% rate cut in October.
This problem will be further complicated for the RBA by market pricing. The forecasts in May already incorporated the two rate cuts in June and July (although markets were envisaging the cuts to come later in the year). The forecasts in August will incorporate a further cut in October (market pricing) and a near full second cut by mid-2020.
If, as we expect, those forecasts will be barely acceptable for growth and inflation and well below the RBA’s “desired” 4.5% for the unemployment rate, then the very least that the RBA can do is to deliver a 25bp October cut and plan to repeat the dose in 2020 H1.
BILL EVANS is the Chief Economist at Westpac
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RBA to hold in August but further cuts forecast in 2019 and early 2020: Bill Evans

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Dean Parkinson, the founder of the Honeywagons fleet of makeup vans and his wife, Deborah, have sold their Tamarama home.
They secured $4.75 million pre-auction. 
The <a href="https://www.realestate.com.au/sold/property-house-nsw-tamarama-131443302" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.realestate.com.au/sold/property-house-nsw-tamarama-131443302&amp;source=gmail&amp;ust=1564620124011000&amp;usg=AFQjCNFwy9uPG8Fj688Dsl7QCgnRkDCcng">Kenneth Street home </a>had a $4.25 million guide ahead of its August 3 scheduled auction. 
Set in the Tamarama horseshoe, halfway between Tamarama and Bondi Beach, the designer home features views of the coastline, cliffs, beach and rolling waves.
<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/2019/8/1/tamarama%202.jpg" alt="">
The home comprises master bedroom with large balcony, two additional bedrooms, living and dining area, Chef's gas kitchen and courtyard.
Other highlights include high barrel ceilings, intercome, and oversized garage with 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/2019/8/1/tamarama%203.jpg" alt="">
It's located within close proximity to cafes, restaurants, shops and transport. 
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Dean Parkinson secures $4.75 million in Tamarama

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GUEST OBSERVATION 
Imagine a community of 200,000. Convivial, walkable, six times the density of Manhattan but with a smaller ecological footprint. It provides low-cost services and affordable housing mixed with productive uses such as recycling, farming and trading. It’s a city within a city.
But the streets aren’t wide enough to allow cars. The houses seem makeshift and the drains need work. The adaptations make it look like a place under perpetual construction.
In fact, the landlords and local leaders have incrementally built their houses and urban amenities over the last 40 years. They have self-organised to provide services such as gas, electricity and water. Non-government organisations (NGOs) have often provided extensive support to help with this process.
The only catch is this community has been built on unused public land. Now the residents face threats of resettlement to allow for “development” projects planned by the state. After spending six months in such a place, I can attest to their simultaneous desire to live their lives and the fear of uprooting that underlies their daily life.
<img src="https://images.theconversation.com/files/285576/original/file-20190724-110158-11gasn9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Sahajul, a local elder, recollects the struggles he faced to kick-start Karail as a place. 
Mohammed Jilani/Open Studio, Author provided
The story of a billion people
The place is Karail, the largest informal settlement in <a href="https://en.wikipedia.org/wiki/Dhaka" target="_blank">Dhaka</a>, but the story is not particular to there. A billion people live in such places around the world. That number is slated to reach <a href="https://unhabitat.org/books/world-cities-report/" target="_blank">3 billion people in the next 30 years</a>.
This means informal settlements are one of the major ways developing cities are being produced. Conventional planning approaches such as slum clearance, cookie-cutter high-rises, peripheral resettlement and back-to-village programs have often failed to manage them.
UN-Habitat, the body with global responsibility for issues of urban growth, advocates city-wide <a href="https://www.citiesalliance.org/about-slum-upgrading#Why_not_tear_down" target="_blank">slum upgrading</a> and integration with metropolitan plans. Such programs are explicitly “<a href="http://www.monppab.org/content/libraryfiles/160.pdf" target="_blank">participatory</a>” and inclusive. Specifically, UN-Habitat <a href="https://unhabitat.org/quick-guide-for-participatory-city-wide-slum-upgrading-city-wide-slum-upgrading-for-sustainable-urbanization/" target="_blank">recommends</a> member states “recognise the rights and contributions of slum dwellers and change the view that they are illegal”.
However, these recommendations are non-binding. It is up to the state and NGOs to implement policies on the ground. While funding agencies and local civic bodies have important roles too, they are ineffective in formulating the upgrading programs by themselves.
<a href="https://images.theconversation.com/files/285568/original/file-20190724-110187-1f79zyw.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/285568/original/file-20190724-110187-1f79zyw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
An overhead view of Karail. 
Google Earth, Author provided
What’s the plan for Karail?
In Karail’s case, the land belongs to the Ministry of Science and Information &amp; Communication Technology (MoSICT). It plans to establish a <a href="https://bhtpa.portal.gov.bd/sites/default/files/files/bhtpa.portal.gov.bd/page/fd2c28e6_99ab_43d4_8262_ff8d87165be7/Draft%20Feasibility%20Study%20Report-%20Mohakhali.pdf" target="_blank">software technology park</a> to replace the settlement. In 2014, several NGOs providing pro bono legal aid filed petitions in court challenging the authority to carry out evictions on such a massive scale. The final verdict is still pending, but the word on the streets in Karail is that the wheels are in motion to make the project happen by any means.
<a href="https://images.theconversation.com/files/285624/original/file-20190724-110175-kuy1wu.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/285624/original/file-20190724-110175-kuy1wu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The existing settlement and proposed development plan. 
Tanzil Shafique and BHTPA, Author provided
If the project proceeds, the demolitions will begin soon. The resettlement plan for the project proposes six options, none of which are slum upgrading.
<a href="https://images.theconversation.com/files/285573/original/file-20190724-110162-3hzn1q.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/285573/original/file-20190724-110162-3hzn1q.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
 Kurail is an established community that is home to at least 40,000 families. 
Tanzil Shafique, Author provided
In the best-case scenario, about 6,000 economy flats (roughly 25 square metres) will be built on site. Remember, at least 40,000 families live in Karail. The other options – including off-site resettlement or cash compensation – are far worse.
The draft plan shows no understanding of the site as an existing city, nor are there any attempts to integrate slum upgrading into the project, as UN-Habitat recommends. Note that the objective of the project is “to establish knowledge-based industries contributing to the national economy and helping achieve the goals of <a href="https://en.wikipedia.org/wiki/Vision_2021" target="_blank">Vision 2021: Digital Bangladesh</a>”. The project is predicted to <a href="https://www.propertyobserver.com.au/http://www.theindependentbd.com/printversion/details/133535" target="_blank">create 30,000 jobs</a>.
Such is the cruel irony of “development”. For an estimated investment of <a href="https://bhtpa.portal.gov.bd/sites/default/files/files/bhtpa.portal.gov.bd/page/fd2c28e6_99ab_43d4_8262_ff8d87165be7/Draft%20Feasibility%20Study%20Report-%20Mohakhali.pdf" target="_blank">AU$300 million</a>, the project will generate <a href="http://www.theindependentbd.com/arcprint/details/113909/2017-09-14" target="_blank">30,000 future jobs</a>, replacing the estimated <a href="https://torturedocumentationproject.files.wordpress.com/2014/05/poverty-and-violence-in-korail-slum-in-dhaka.pdf" target="_blank">116,000 jobs that Karail supports</a>. The project will displace 40,000 families from their current affordable housing and build high-rise apartments to house only 6,000.
In a city already on the <a href="https://www.thedailystar.net/city/dhaka-traffic-jam-congestion-eats-32-million-working-hours-everyday-world-bank-1435630" target="_blank">verge of collapse with traffic congestion</a>, the project is set to attract more traffic to the centre. Vehicle-based infrastructure will replace the non-motorised walkable neighbourhood of Karail. The cost of losing the accumulated social capital of the people of Karail only makes it worse.
‘Development’ that fails people
<a href="https://images.theconversation.com/files/285575/original/file-20190724-110166-1u7jv7n.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/285575/original/file-20190724-110166-1u7jv7n.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
The housing in Bhashantek Rehabilitation Project exemplifies how not to resettle a community. 
Tanzil Shafique, Author provided
Such “<a href="https://www.propertyobserver.com.au/https://press.princeton.edu/titles/9564" target="_blank">development</a>” in pursuit of a techno-ideological spectacle, without a sense of equitable well-being, is empty and is particularly threatening to informal settlements due to land value. Even when the state operates with the best of intentions and provides off-site resettlement, it has proven to be disastrous in Bangladesh, as exemplified by the <a href="https://files.eric.ed.gov/fulltext/EJ1080519.pdf" target="_blank">Bhashantek Rehabilitation Project</a>.
As Karail’s case shows, conventional “development” and policymaking do not know how to deal with such settlements. Planning is conducted with <a href="https://www.tandfonline.com/doi/abs/10.1080/14649357.2015.1071870" target="_blank">half a mind</a> in the absence of empathy. “Inclusive cities” and “sustainable development” become empty motherhood slogans.
New practices can only emerge when we begin to learn how the other half lives and become allies in their struggle. Will Karail survive the onslaught of development? Well, it has survived decades of adversity so far and there is never any scarcity of hope.<img src="https://counter.theconversation.com/content/120600/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<img src="https://images.theconversation.com/files/285570/original/file-20190724-110162-1siaz6o.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Karail is a place of learning to hope. 
Tanzil Shafique, Author provided
Tanzil Shafique, PhD Researcher in Urban Design, University of Melbourne
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-sort-of-development-has-no-place-for-a-billion-slum-dwellers-120600" target="_blank">original article</a>.
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What sort of ‘development’ has no place for a billion slum dwellers?

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

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.

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]

Staff reporter

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