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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A Carool house remains unable to find a buyer, despite nine years on the market and slashing the listing price.
The four bedroom, two bathroom house is currently listed for $1.995,000, a reduction of $300,000 on it's original 2010 asking price of $2.3 million.
Paul Heydon of North Estate Agents currently holds the listing.
Situated at <a href="https://www.realestate.com.au/property-house-nsw-carool-106760274" target="_blank">143 Blissetts Road</a>, the home has only ever seen one reduction in the asking price, a straight $300,000 cut in February 2013.
Set on 12.5 hectares, the property holds numerous ocean and mountain range views including Surfers Paradise &amp; beyond.
Featuring verandahs on all sides, it is only 20 minutes drive to the hub of Tweed Heads/ Coolangatta and International airport
The holding is host to a 3 kilowatt solar power system as well as a cattle grid and holding yards.
<img src="https://www.urban.com.au/images/2019/7/22/Carool%202.png" alt="">
<div class="image-wrapper">Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.</div>
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="/expert-insights/buying/bargain-property-at-mount-eliza-home-at-2-million-discount">Mount Eliza</a>, <a href="/expert-insights/buying/bargain-property-in-central-geelong-sale-price-dips-after-one-year">Central Geelong</a>, <a href="/expert-insights/buying/bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss">East Perth</a> and <a href="/expert-insights/buying/bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount">Sydney Olympic Park</a>.
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j.ballantyne1990-6AQqhLzZaK

Bargain property in Carool? Listing slashed $300,000 and unsold for nine years

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A two bedroom, one bathroom Briar Hill, Victoria mortgagee townhouse has been sold.
The property transacted at auction for $558,000.
Scott Conboy and Danielle Vella of Ray White marketed the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-unit-vic-briar+hill-131266762" target="_blank">2/25 Williams Road</a>, the townhouse features a one car garage.
Set on 188 sqm, the home was constructed in 2015.
The listing described it as "ideal for downsizers, investors and first home buyers"
It is located minutes from public transport, parklands, schools and other amenities.
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The median price for a home in <a href="/developments/briar-hill-vic-3088">Briar Hill</a> is $805,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.1%. 
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Two bedroom Briar Hill, Victoria mortgagee home sold for $250,000 below median

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An Erskineville apartment that neighbours the Sugarcane project sold at weekend auction for $1.35 million, some $200,000 over reserve price.
The Sugarcane Erskineville apartment development are empty more than one year after its completion because of concerns over potential toxic contamination.
<div class="in-content-ad">The revelations rocked Sydney’s property market last Friday, and some buyers pulled out because of the news.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">But the Erko apartment offering which were developed by different developer and builders, saw competitive bidding.</div>
Nine Entertainment reported the successful buyer was unperturbed by fears of the potential toxic contamination from the adjacent development.
Infact they hoped it would "scare" off other buyers.
Some 13 parties registered to bid on <a href="https://www.realestate.com.au/property-apartment-nsw-erskineville-131394366" target="_blank">410/1 Pearl Street</a>.
Last sold for $855,000 in 2013, the two-bedroom apartment was built in 2014 and developed by Leighton Properties.
It was sold by Service First Property Group agent Oliver Quach.
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Nothing toxic about weekend Erskineville auction result

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The besieged national property valuer Landmark White is seeking to raise $5 million from shareholders to restructure the business.
The company is suspended from trading on the ASX after two data breaches earlier this year.
Several financial institutions suspended their valuations with the firm, forcing its management to come up with its restructure.
Landmark White does not expect its customer workflows to return to their previous levels.
It has been reported it has been hit by an exodus of staff from its Sydney business. About 20 staff have left the franchise business to work at Ray White Commercial.  LandMark White is comprised of the listed corporate head office with under 400 staff and an independent franchise network.
“LMW’s current financial position is such that, in the event that the minimum raise amount is not raised under the offer, the offer will not proceed and the company will not be able to continue meeting its financial obligations when they fall due,” the company said in a prospectus lodged to the ASX at 5pm Friday.
Landmark’s offer, priced at 8c a share, is aimed at raising up to $5.45m and is partially underwritten up to $3 million.
It has appointed Enrizen Capital as the lead manager for the raise. Landmark chairman Keith Perrett said the board had developed a leaner, optimised business model.
“While LMW is now in an operating position to execute a restructuring of the business to rebuild value for shareholders, the company requires additional capital in order to deliver the restructure, optimise the business and continue its operations,” he added.
Landmark is saying it has been propped up by the good grace of its lender, Westpac-owned St George.
“Due to LMW’s financial position, it is … in breach of terms of the facility agreement with St George Bank in respect of both the overdraft facility and bill acceptance facility (facility agreement).
“It is likely that, given LMW’s current financial position, LMW will be in breach of certain terms of the facility agreement until such time as its financial position has returned to the required levels of profitability, which may be a period until June 30, 2020.”
Landmark’s full-year numbers have been hit by the twodata breaches.
The company has posted a net loss after tax of $15.1 million for the year ended June 30, with the breaches wiping out between $6m to $7m of revenue.
It posted a profit of $4.1 million for fiscal 2018.
 
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Landmark White seek to rebuild value for shareholders

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A five bedroom home in Clinton, in the Gladstone region of Queensland, has been sold for a loss by the mortgagee in possession.
The house sold for $330,000, a $120,000 hit from its $450,000 sale in 2013.
There had been $369,000 for the home at <a href="https://www.realestate.com.au/property-house-qld-clinton-129927822" target="_blank">9 Fairway Avenue</a> when it was first listed in November 2018.
Set on a 894 sqm block, the 1992-built home has an attached double carport.
The two storey home has both established gardens and fully fenced yards as well as an in-ground salt water swimming pool.
It is located near schools and public transport links.
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The median sale price for a home in <a href="/developments/clinton-qld-4680">Clinton, Qld</a> is $259,750, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -3.7%.
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Clinton, Queensland mortgagee sold for $120,000 loss

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GUEST OBSERVATION
Governments are looking to fast rail services to regional cities to relieve population pressures in Sydney, Melbourne and Brisbane. The federal government is funding <a href="https://www.infrastructure.gov.au/rail/trains/faster_rail/index.aspx" target="_blank">nine business cases</a> for such schemes. But what economic effect might these fast links have on the regional cities?
The current fast rail schemes seem oriented at relieving population pressures in the major cities rather than a productive regional economic purpose. The minister for population, cities and urban infrastructure recently <a href="https://minister.infrastructure.gov.au/tudge/media-release/better-managing-australias-future-population-growth" target="_blank">stated</a>:
"The National Faster Rail Agency begins operating from today [July 1]. The new Agency will oversee the government’s 20-year fast rail agenda, which will connect satellite regional cities to our big capitals. This will allow people to reside in regional centres with its [sic] cheaper housing and regional lifestyle but still access easily and daily the major employment centres."
The argument seems built on a pitch to city workers priced out of metropolitan housing markets. It treats regional towns as remote dormitories for metropolitan workers rather than as regional cities that serve as service hubs and employment centres. But will subsidising metropolitan workers to live in cheaper regional towns have a positive economic effect on those towns?
An unequal relationship
Concern is growing among international observers that <a href="https://www.51m.co.uk/wp-content/uploads/2013/08/ch51.pdf" target="_blank">fast rail connections between two cities benefit the larger of the pair</a>. Professor <a href="https://www.centreforcities.org/event/city-horizons-professor-michael-storper/" target="_blank">Michael Storper observed</a>: "One of the biggest mistakes we’ve made was being naïve about connectivity – give infrastructure and it spreads. Well, often it concentrates. The high-speed train network in France, guess what it did. It advantaged Paris."
While Paris is seen as benefiting the most from the national fast rail TGV service, the regional cities of <a href="http://www.greengauge21.net/wp-content/uploads/hsr-regneration-of-cities.pdf" target="_blank">Lyon and Lille have strengthened their economic positions</a>. The Lyon and Lille fast rail stations form the hub of their respective regional transport networks and have attracted new commercial activity. They also sit at intersections of major European fast rail networks.
It’s a pattern that cannot be easily achieved for Australia’s regional cities due to our widely dispersed settlements. So what does this mean for our regional cities?
Improving transport infrastructure doesn’t just improve regional business access to metropolitan markets. It decrease the costs of trade in both directions. And large cities are typically more productive economically. This is because they offer more specialised goods and services and can leverage the agglomeration effects of shared high-quality labour markets and infrastructure, plus a concentration of skills and knowledge.
Reduced travel times can mean regional businesses become less efficient than metropolitan competitors that can offer a wider range of specialist goods and services. This may lead to regional business closures, employment losses and wage decline. Unless a regional city is able to develop a specialised set of high-skill, high-wage industries that complement or outcompete the metropolis it risks being economically disadvantaged by faster rail.
New regional demand arising from commuter population growth might counter the loss of higher-order regional jobs due to improved transport links. But that will largely be in lower-value retail and personal service sectors. The result will still be a net economic gain for the metropolis.
An influx of commuters earning metropolitan wages might also <a href="https://www.news.com.au/finance/real-estate/melbourne-vic/geelong-prices-soften-as-buyers-await-outcome-of-federal-election/news-story/ea4cc61d089f669d26cf5b10b7ceab80" target="_blank">inflate regional housing markets</a>. This would disadvantage lower-paid regional workers. The beneficiaries of this scenario are likely to be local rentiers, such as landholders and developers who can profit from land-price inflation.
This interest group will likely vocally promote regional fast rail. But sustainable economic prosperity for regional cities requires more than population-driven land speculation.
The example of Geelong
The most advanced of the current Australian proposals is the <a href="https://minister.infrastructure.gov.au/tudge/media-release/geelong-melbourne-travel-cut-half-part-20-year-fast-rail-plan" target="_blank">Geelong-Melbourne route</a>. It has received federal and state <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-03-22/fast-rail-train-service-pledge-for-geelong/10927982" target="_blank">funding for planning</a> with an estimated total cost of <a href="https://www.theage.com.au/politics/victoria/andrews-in-about-face-on-building-geelong-fast-rail-with-morrison-20190531-p51tbz" target="_blank">at least A$10 billion</a>. But planners need to ask how this spending will provide a net economic benefit, and how the benefits will be distributed.
Growth in commuter population and the services this attracts may be seem like a resolution to metropolitan population problems, but could further concentrate higher-paid jobs in Melbourne. Faster commutes mean Melbourne-based firms will have a greater pick of Geelong-based workers, thus consolidating metropolitan competitive advantage. Fast rail thus risks placing Geelong at a competitive disadvantage, with jobs and workers being exported to Melbourne.
Meanwhile the pressure of housing another <a href="https://www.planning.vic.gov.au/land-use-and-population-research/victoria-in-future" target="_blank">145,000 residents in the next 20 years</a> already falls on Geelong, a <a href="https://www.propertyobserver.com.au/https://quickstats.censusdata.abs.gov.au/census_services/getproduct/census/2016/quickstat/203?opendocument" target="_blank">city of 280,000 people</a>. The strain on infrastructure and services is proportionately greater than would be the case in Melbourne, which has <a href="https://quickstats.censusdata.abs.gov.au/census_services/getproduct/census/2016/quickstat/2GMEL?opendocument" target="_blank">nearly 5 million</a> residents.
What can policymakers do about this?
To resolve this conundrum, thought must be given to what specialised high-value jobs will be attracted to regional cities to accompany fast rail investments, so these cities remain competitive and productive, regionally, nationally and internationally. This might include policies such as relocating public agencies, regional targeting of university-based research and development spending, boosting services such as schools and hospitals, and providing incentives for innovative private companies to relocate to regional towns.
Policymakers should also consider positioning regional cities as rail network hubs in their own right. An example would be connecting Geelong, Ballarat and Bendigo by rail, along with better linkages to national and international airports.
We don’t yet know for sure what the effects of fast rail on regional cities will be. But the impact of this infrastructure needs to be assessed very carefully lest it turns Australia’s regional cities into dependent population dormitories rather than regional dynamos, at vast public expense.<img src="https://counter.theconversation.com/content/119090/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;">
Todd Denham, PhD Candidate, School of Global, Urban &amp; Social Studies, RMIT University
Jago Dodson, Professor of Urban Policy and Director, Centre for Urban Research, RMIT 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/regional-cities-beware-fast-rail-might-lead-to-disadvantaged-dormitories-not-booming-economies-119090" target="_blank">original article</a>.
Main photo: <a class="license" href="http://creativecommons.org/licenses/by-nc/4.0/" target="_blank">CC BY-NC</a>. 
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Regional cities beware – fast rail might lead to disadvantaged dormitories, not booming economies

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GUEST OBSERVATION
By 2017, <a href="https://data.worldbank.org/indicator/sp.urb.totl.in.zs" target="_blank">58% of Chinese people were living in cities</a>. This is much less than the 79% for Western Europe and 86% for Australia, but China is undergoing very rapid urbanisation, as the chart below shows. It is expected <a href="https://population.un.org/wup/Country-Profiles" target="_blank">70% of China’s population will be living in cities</a> between 2035 and 2045.
<a href="https://images.theconversation.com/files/274487/original/file-20190515-60541-o2m5r7.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/274487/original/file-20190515-60541-o2m5r7.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://ourworldindata.org/grapher/urbanization-last-500-years?time=1500..2016" target="_blank">Source: OWID based on UN World Urbanisation Prospects 2018 and historical sources</a>
In response to these trends, the Chinese government released <a href="https://www.sciencedirect.com/science/article/pii/S1876610216315818" target="_blank">a national urbanisation plan (2014-2020)</a>, with a focus on the quality of Chinese urbanisation and public spaces. So the policymakers’ concern is not solely with the economic development of China’s cities but also a healthier built environment and increased well-being for its citizens.
In addition to growing population pressures, Chinese cities face battles with pollution and climate change. Furthermore, <a href="https://www.thoughtco.com/tourism-development-in-china-1434412" target="_blank">China is now the third-most-visited country</a>, behind France and the United States. No doubt the country’s growing tourism industry is an important driver for developing better cities.
The <a href="https://www.tandfonline.com/doi/abs/10.1080/23812346.2018.1457297" target="_blank">rise of private public partnership projects</a> and growing private interests in China’s built environment also call for a fresh look at urban design. Connecting urban planning and architecture, public spaces and private buildings, metropolitan scale and street scale, urban design can help to balance private interests and public needs while developing urban areas.
If those challenges are quite recent for China, they have been experienced, tested and theorised in Western countries for the past two centuries. Thus there might be an interest in learning from Western urban design principles, both to draw inspiration from the good practices and to avoid repeating the mistakes.
Urban design is well established in Australia
Some major Chinese cities such as Guangzhou and Shanghai have recently created their own urban design guidelines. However, many Chinese cities don’t have any.
In Australia the situation is quite different. Urban design theory and practices are well grounded. More than 20 guidelines have been published since the 2000s at all levels of government.
<a href="https://images.theconversation.com/files/277297/original/file-20190530-69087-pgelaf.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/277297/original/file-20190530-69087-pgelaf.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Urban design guidelines in Australia at federal, state and local government level. Lucile Jacquot, 2019, Author provided
The diversity of Australian guidelines means that urban design research is very active and responsive to the evolution of technologies, lifestyles and expectations. Also, the outcomes are often considered successful – Australian cities usually do well in rankings of urban quality of life. For example, Melbourne, Adelaide and Sydney are consistently ranked in the top ten of the <a href="https://pages.eiu.com/rs/753-RIQ-438/images/The_Global_Liveability_Index_2018.pdf" target="_blank">Global Liveability Index</a>.
Good examples of urban design are also acknowledged in Australia – for example, through the annual <a href="https://urbandesignawards.com.au/" target="_blank">Australian Urban Design Awards</a>. The recognition of best practices and fostering of healthy competition create a rich urban design culture.
How can Chinese cities be improved?
Dalian is a good example of an emerging city in China. Its location between the sea and the mountains and its rich colonial heritage make it a major tourist destination. Nevertheless, the experience of Dalian’s urban spaces could be improved in many ways.
Firstly, one of the main goals of urban design is to provide adequate public facilities such as pedestrian pathways, sitting areas and public toilets. In Dalian, an increase in such facilities could encourage the city’s residents to make more use of the public space. Similarly, shaded areas and water fountains could make public spaces more liveable, no matter the hour of the day or the weather.
Secondly, installing such facilities is not enough on its own to make the city engaging and attractive. Dalian’s urban spaces are quite monochromatic and a more vibrant cityscape could improve the overall ambience of the city. One way to achieve this would be through the use of different colours, textures and materials to define spatial difference between private and public space, and create new pedestrian experiences.
<a href="https://images.theconversation.com/files/280121/original/file-20190619-118539-12oz5sn.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/280121/original/file-20190619-118539-12oz5sn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The differences in urban design of pedestrian squares in Dalian (left) and Melbourne are clear. Images: K. Dupré (left), L. Jacquot (right), Author provided
Lastly, the main purpose of designing the look and feel of a city is to engage people with their surroundings. The urban space not only has to cater for all types of people and their needs, but also to provide safe socialising opportunities.
In Dalian, providing more playgrounds, for example, could enhance these interactions. All the benefits of good urban design come together in a safe urban space where all types of people can meet, exchange and feel comfortable.
<a href="https://images.theconversation.com/files/280123/original/file-20190619-118535-uk0va0.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/280123/original/file-20190619-118535-uk0va0.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Public spaces in Dalian (left) and Gold Coast. Images: K. Dupré (left) and picswe.net (right), Author provided
Australian cities can also learn from China
While Australia’s urban design principles are considerably more advanced, its cities face similar challenges to those in China.
For example, Australia is still grappling with the relationship between people and their urban space. Most Australian cities are car-dominated, going against contemporary understanding of a healthy, sustainable and liveable city.
Car use is dramatically affecting the urban fabric of Chinese and Australian cities. In particular, it has impacts on the experience of pedestrians. The wide streets are difficult to cross, footpaths are often sacrificed for the benefit of the car, and cyclists’ safety is compromised. Good urban design would definitely strive towards a more people-based city model.
Another common challenge is climate change. Both <a href="https://www.theguardian.com/australia-news/2019/feb/28/australia-breaks-weather-records-with-hottest-ever-summer" target="_blank">Australian</a> and <a href="https://www.sixthtone.com/news/1002747/chinas-scorching-heat-wave-brings-a-glimpse-of-the-future" target="_blank">Chinese</a> cities must deal with rising temperatures. The positive impact urban design can have to moderate urban temperatures <a href="https://www.mdpi.com/2075-5309/8/12/182/htm" target="_blank">is now widely recognised</a>. Major Australian cities have now developed <a href="https://wsroc.com.au/projects/project-turn-down-the-heat" target="_blank">guidelines on measures to counter heat</a>, while China is actively working on the issue.
But in one area, the battle to reduce carbon footprints, Chinese cities <a href="https://cleanenergysolutions.org/zh-hans/resources/changxindian-low-carbon-community-concept-plan-website" target="_blank">lead the way</a>. The Chinese government has also developed <a href="https://www.sciencedirect.com/science/article/pii/S2212095517300627" target="_blank">a substantial green policy</a>. So, while Chinese cities could certainly learn from Australia, the converse seems equally true.<img src="https://counter.theconversation.com/content/115905/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;">
Lucile Jacquot, Research fellow, Griffith University
Karine Dupré, Associate Professor in Architecture, Griffith University
Yang Liu, PhD Candidate. School of Engineering and Built Environment, Architecture &amp; Design, Griffith University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/china-can-learn-from-australian-urban-design-but-its-not-all-one-way-traffic-115905" target="_blank">original article</a>.
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China can learn from Australian urban design, but it’s not all one-way traffic

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EXPERT OBSERVER
The business conditions index decreased 3pts to +1 in 2019 Q2 continuing the downtrend since early 2018 and is now just below average.
Business confidence rose sharply, lifting to +6 index points after a 0 index point reading in Q1. 
The down trend in conditions continued in Q2 2019, and for the first time since 2014 the quarterly survey has now shown a below average readying.
The decline in conditions suggests the business sector has lost significant momentum over the past year and that we are unlikely to see a substantial pickup in growth in the Q2 national accounts.
<a href="https://www.propertyobserver.com.au/images/2019/7/18/nab%20table%20.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/2019/7/18/nab%20table%20.jpg" alt="">
 
Source: NAB
The strong lift in confidence appears to be related to the outcome of the Federal election, with the bulk of the survey conducted post election day and also around the time of firming expectations of rate cuts.
Based on the June Monthly Business survey we already know this effect was short-lived with confidence pulling back.
<a href="https://www.propertyobserver.com.au/images/2019/7/18/nab%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/2019/7/18/nab%201.jpg" alt="">
 
Source: NAB
The decline in conditions has been broad-based over the past year, with all industries seeing a decline and the slowdown evident across all states. 
Mining continues to see the most favourable conditions, while retail and property are now weakest.
Across the states, NSW and VIC are only just positive, while the other mainland states are at the threshold of improving versus deteriorating.
<a href="https://www.propertyobserver.com.au/images/2019/7/18/nab%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/2019/7/18/nab%202.jpg" alt="">
 
Source: NAB
Unfortunately, there is evidence of a softening in activity almost everywhere. All industries have weakened and the pull-back is evident in all states. 
Given the current focus on labour market developments for the future path of monetary policy, the slowing growth momentum and softness in leading indicators of employment warrant close watching.
<a href="https://www.propertyobserver.com.au/images/2019/7/18/nab%203.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/2019/7/18/nab%203.jpg" alt="">
 
Source: NAB
In the quarter, current and expected employment measures all deteriorated – though all remain above average.
The share of firms reporting difficulty in finding suitable labour as a constraint on output ticked up in the quarter, and is elevated, but below pre-GFC levels. Over the past year, this measure has tracked broadly side-ways.
<a href="https://www.propertyobserver.com.au/images/2019/7/18/nab%204.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/2019/7/18/nab%204.jpg" alt="">
Source: NAB
Overall, it appears that while there is some tightness in some sectoral labour markets (e.g. mining) it is not yet tight enough nor broadly enough based to see significant nationwide wage rises. 
For now, the survey suggests ongoing employment growth but given the recent trends in the forward-looking measures, we will continue to watch closely. Our worry is that the slowdown in activity may translate into a more substantial weakening in labour demand.
<a href="https://www.propertyobserver.com.au/images/2019/7/18/nab%205.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/2019/7/18/nab%205.jpg" alt="">
Source: NAB
Overall, price and wage measures in the survey continued to suggest weak inflationary pressures in the economy.
Output prices growth edged lower in the quarter and input prices growth and the wage bill tracked sideways – all at a low level.
Declining capacity utilisation and weak surveyed price measures suggest that inflation outcomes are likely to be meek for some time.
The impact of labour demand on wage growth will remain an important dynamic in this sense – with slack already evident in the labour market, any weakening in labour demand could well see further action from the RBA on rates to bolster the economy.
<a href="https://www.propertyobserver.com.au/images/2019/7/18/nab%206.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/2019/7/18/nab%206.jpg" alt="">
 
Source: NAB
ALAN OSTER is NAB's Chief Economist.
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Business sector losing momentum with quick turnaround unlikely: NAB's Alan Oster

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Regional NSW towns are set for a boost, with the state government fast-tracking a swathe of new projects.
Some 22 major shovel ready projects will receive a total of $96 million from the NSW Government’s <a href="http://www.nsw.gov.au/droughtstimuluspackage" target="_blank">Drought Stimulus Package</a>, Deputy Premier and Minister for Regional NSW John Barilaro said.
“Farmers are being hit hard by drought and the impact of this drought is now reaching into our towns and cities, so it’s vital to support off-farm industries by driving business activity and generating new opportunities,” Barilaro said. 
“This funding will keep people in work by putting dollars into pay packets, cash that tradies, suppliers and other workers will spend at local businesses such as cafes, retail stores and local services to keep money flowing through towns when rivers are not. 
“Regional NSW is struggling through one of the worst droughts on record and every day the crippling impact extends further beyond the farm gate, so I’m pleased to announce these projects just one month after the stimulus package was announced.”
Projects to receive funding include a $4.25 million upgrade of four major road routes in Singleton LGA and $6.5 million for Scone Regional Airport upgrades.
Barilaro said further announcements will be made at Dubbo, Gilgandra, Coonamble, Nyngan, Cobar, Broken Hill, Orange, Bathurst, Gunnedah, Deniliquin, Merimbula, Hilltops LGA and Queanbeyan. 
“It’s important everyone in the bush, our farmers, families and businesses, know what NSW Government support is available to them, which is why I will personally deliver this new funding information to regional towns in the coming days,” Barilaro said.
The next set of projects to be funded from the Drought Stimulus Package is currently being assessed. 
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NSW government approves $96 million in projects for drought hit regions

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St Joseph's Convent, a 1890s brick two-storey building in Bungendore, New South Wales is still on the market. 
Doug Merriman of Ray White Bungendore has the listing. 
Opened in 1891, St Joseph's Convent at 54 Turallo Terrace was once the home of Saint Mary MacKillop during her trips to Bungendore.
The original features of the building include fireplaces, skirting boards, cedar doors, plaster cornices, ceiling roses and stained glass window.
It currently comprises four guests with bathrooms, three additional bedrooms, two kitchens, scullery, dining room, lounge room and two additional bathrooms.
<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/2019/7/16/bungendore%202.jpg" alt="">
There is a Chapel to the eastern side of the Convent comes with stained glass windows and mezzanine area where madrigal singers once preformed.
Other features of the property include large Catalpa tree, rose covered arbour, lavender hedges, flowering bulbs, large walled courtyard and terrace.
Approved as a dual occupancy residence, St Joseph Convent could be converted to accommodate various uses such as retail, medical centre, four individual apartments, wedding venue, restaurant or educational facility with council permission. 
<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/2019/7/16/bungendore%203.jpg" alt="">
It is close to local amenities including schools, restaurants, shopping centre and train station, a short 20 minutes drive to Queanbeyan and an easy 30 minutes from Canberra. 
It was previously offered by expression of interest with a March closing date. 
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Historic St Joseph's Convent in Bungendore, NSW listed

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Joel Robinson

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Staff reporter

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