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Weekend sales across the nation pointed to a return of confidence in the market after weeks of jitters leading to the federal election.
Brisbane's top sale, which fetched $1.155 million, was Bill's-hill Cottage, which dates back to the 1880s.
With three owners since it was built, the nine-room abound with original fixtures meticulously restored by the current owners.
"Behind the charming, traditional facade you will find a generously proportioned home with carefully considered modernised areas such as the family-sized kitchen and tiled bathrooms, all designed with a nod to the house's rich heritage," the marketing said.
The original hoop pine floorboards had been sanded and finished with Tung oil at the <a href="https://www.propertyobserver.com.au/http://remaxriverside.com.au/20156979" target="_blank">9 Macartney Street, Paddington offering</a> (top).
The home came with original fretwork, locks, switches and ironmongery.
A bound history book on the property was presented to the new custodians of Bill's-hill Cottage.
There is scope to build underneath and add a swimming pool to the rear garden on the 460 sqm block, "all without fear of over-capitalising," its RE/MAX Riverside selling agent Chris White said. 
White had 82 pre-auction inspections over the five week marketing campaign.
<div>There were six registered bidders - including three buyers' agents, one of whom secured the property on behalf of clients.</div>
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<div>Some 40 bids were taken after the 20 minute auction started at $880,000.</div>
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Melbourne's top sale was $4,515,000 in Clifton Hill when <a href="http://www.collinssimms.com.au/?/property/3345034/6-south-terrace-clifton-hill-vic-3068" target="_blank">Grace Darling, a grand 1892 terrace</a> (below) was sold through Collin Simms Inner North agents Antony Woodley and Antony Harbor.
<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/2019/5/27/Clifton.jpg" alt="">
The five bedroom, three bathroom home at 6 South Terrace had been renovated and extended by its architect/owner Damien Bonnice.
The three level home with parkland and city views sits on 435sqm with an arcaded Italianate facade.
The pre-auction price guidance was $3.9 million to $4.25 million.
It last sold at $450,000 in 1993.
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There were 2,041 homes taken to auction across the combined capital cities after the previous week saw volumes drop to 930, likely due to the federal election.
This time last year, volumes were higher with 2,297 auctions held, according to CoreLogic.
Preliminary results show a national clearance rate of 62.6 per cent across the combined capital cities.
<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/2019/5/27/Auctions-May27.jpg" alt="">
 
Last week’s final clearance rate came in at 55.2 per cent, the highest clearance rate we have seen since September last year/
"It’s possible that this week’s final clearance rate may top that as remaining results roll in," CoreLogic auction analyst Kevin Brogan said.
Over the same week last year the final clearance rate was recorded at 56.2 per cent.
"Clearance rates have bounced back and overall the results are consistent with the narrative that confidence is returning to the market after the Federal Election result," Brogan noted.
"Stimulatory factors include the continuity in negative gearing and capital gains tax concessions for investors, potential changes to the APRA home loan serviceability buffer and the prospect of imminent reductions in interest rates," he said. 
In Melbourne, a preliminary auction clearance rate of 62.9 per cent was recorded across 971 auctions, while the prior weekend saw 432 auctions returning a final clearance rate of 60.7 per cent.
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This time last year, 1,132 auctions were held across the city, returning a clearance rate of 59 per cent.
The nation's top weekend sale was in pricey Bellevue Hill (below).
The $5.625 million sale was a six bedroom home on 658 sqm at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/eastern-suburbs/bellevue-hill/394023" target="_blank">12 Arthur Street through McGrath</a>.
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It last sold at $5.15 million in September 2015.
There were 697 auctions held in Sydney returning a preliminary clearance rate of 69.9 per cent.
 In comparison, there were just 276 auctions held over the previous week returning a final clearance rate of 56.5 per cent. 
"There is a chance that this week’s final clearance rate may just be able to hold above 60 per cent after Sydney has seen the final clearance rate sit above 55 per cent for the last three weeks," Brogan said.
There was a big number of sold before results in Sydney, totalling 140 properties including Purplebricks securing a $468,000 sale for the two bedroom 1/52 Monomeeth Street, Bexley.
 One year ago, 814 auctions were held across Sydney and the clearance rate came in at 56.1 per cent.
Looking at the smaller auction markets, auction volumes increased week-on-week across all capital cities. 
Preliminary results show that clearance rates were down slightly over the week in Brisbane, while all other cities saw an increase week-on-week.
The cheapest sale was $135,000 in Adelaide in a mortgagee sale through Ray White.
The three bedroom house at <a href="https://www.propertyobserver.com.au/https://raywhitecraigmore.com.au/properties/residential-for-sale/sa/elizabeth-east-5112/house/2101904" target="_blank">4 Benham St, Elizabeth East</a> had sold at $150,000 in 2009 when offloaded by the SA Housing Trust.
It was marketed as a maisonette on 653 sqm.
It came with solar panels and there were security window roller shutters on all main windows.
 
 
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Most expensive
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<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">12 Arthur St, Bellevue Hill NSW 2023, 6 br House, McGrath - Coogee</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$5,625,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">6 South Tce, Clifton Hill VIC 3068, 5 br House, Collins Simms</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$4,515,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">69 Penfold Rd, Rosslyn Park SA 5072, 7 br House, T&amp;T SA</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,600,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">9 Macartney St, Paddington QLD 4064, 3 br House, REMAX First Choice Riverside</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,155,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">13 Clarke St, Yarralumla ACT 2600, 4 br House, Peter Blackshaw Real Estate Manuka</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$1,610,000</td>
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Most affordable
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<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">20/68 Gould St, Bondi Beach NSW 2026, 0 br Studio, LITTLE Real Estate New South Wales</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$377,500</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">12/10 Payne St, Caulfield North VIC 3161, 1 br Unit, McGrath Sandringham</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$286,000</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">4 Benham St, Elizabeth East SA 5112, 3 br House, RW Craigmore</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$135,000</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">18 Beattie St, Kallangur QLD 4503, 3 br House, RW Samford</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$265,600</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">12 Sharwood Cr, Evatt ACT 2617, 4 br House, Luton Properties Tuggeranong CRE</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$480,000</td>
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j.ballantyne1990-6AQqhLzZaK

Confidence returns to auction market following election result

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Michael Sukkar has been appointed assistant Minister to the Treasurer and Minister for Housing.
He has been a member of the House of Representatives since 2013, representing the Deakin electorate in Victoria for the Liberal Party.
He served as the Assistant Minister to the Treasurer between 24 January 2017 and August 2018, when he returned to the backbench.
Luke Howarth is the assistant minister for Community Housing and Homelessness as key parts of Scott Morrison’s second Ministry.
The announcement of a Federal Housing Minister and an Assistant Ministry for Community Housing in the second Morrison ministry shows an awakening to the importance of affordable housing to the future of the country, according to Nicholas Proud, CEO of PowerHousing Australia, which represents 33 of Australia’s largest tier one and scale-growth community housing providers. 
“As the biggest slowdown in the development of residential housing in our history threatens to see house prices sky rocket again as demand again outstrips supply, the Federal Government signals that affordable housing, social impact and the economy are not mutually exclusive.
“With housing remaining in Treasury there is real promise to build on the development of the National Housing Finance and Investment Corporation to see affordable housing deliver up to 10-20 per cent of the national build rate to preserve, jobs, underpin state budgets, preserve supply and keep house prices rising at a more manageable pace.
“Linking Treasury, Cities and Urban Infrastructure makes real common sense, it shows commitment to stop thinking about social and affordable housing as a short-term real estate play and reframes it as a long-term infrastructure yield/risk class ripe for 10-15 year institutional and global investment.
“It also links housing to the deep infrastructure and City Deals investments announced in previous Coalition budgets, which help to reduce congestion and make it easier for Australians, including key workers and those on low and middle incomes, to more easily get to and from work."
Around noted Australia is heading for a slowdown in new housing delivery.
The Australian Banking Association welcomed the reappointment of Treasurer the Hon Josh Frydenberg MP and the new appointments of the Hon Michael Sukkar MP as Assistant Treasurer and Minister for Housing and Senator Jane Hume as Assistant Minister for Superannuation, Financial Services and Financial Technology.  
The CEO of the Australian Banking Association Anna Bligh welcomed the new appointments and looks forward to working closely with the Government on important policies such as improving protections for customers through overhauling the Banking Code of Practice, Open Banking and the Government’s First Home Buyers policy announced during the campaign.
“There are a number of critical reforms apart from the Royal Commission, most notably Open Banking and Comprehensive Credit Reporting, which the industry is eager to continue to work closely with the Government to ensure their success.
“Australia’s banks hold a critical role in the national economy and stand ready to work with the Morrison Government to ensure the economy keeps growing, from the financing of infrastructure projects to helping everyday people get ahead in life with first homes, cars and small business lending.
“Ensuring lending remains straight forward and easy for Australian customers looking to buy a home or invest in their business is a top priority for the industry and remains a critical element in ensuring the economy is geared for growth,” she said.
 
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Michael Sukkar appointed Minister for Housing

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GUEST OBSERVATION
Will the banking services royal commission have a lasting effect of improving the banking and financial sector? The answer is “no”. A temporary change is apparent, but the problems lie deeper than those <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">addressed by the royal commissioner</a>.
The worldwide pervasiveness of financial sector misconduct is an indication.
This is not a criticism of the Royal Commission as such. It had a limited mandate and limited time, although its approach of focusing on Australian case studies further limited its scope. And a broader investigation of economic and social underpinnings of financial sector misconduct would have required a different sort of Inquiry.
It’ll be hard to act on the report we had
Even then, any recommendations for fundamental changes to financial sector structure and activities needed to inhibit misbehaviour would have to run the gauntlet of gaining political support in the face of vested interests.
The response to, and government capitulation on, the Hayne recommendation regarding <a href="https://theconversation.com/sam-and-the-honest-broker-why-commissioner-hayne-wants-mortgage-brokers-to-charge-fees-114071" target="_blank">mortgage broking fees</a> starkly illustrates the point.
Why will the recommendations not be a lasting solution? An important reason is that the royal commission interpreted “behaviour consistent with community standards” in a limited way to refer to situations in which customers were actually harmed.
But much of community angst over financial sector conduct relates to the broader use of market power and superior knowledge to extract an “unfair” share of the benefits from transactions with customers.
And it missed the broader problem…
Customers don’t get a fair share of the benefits from transactions, competition doesn’t work to make sure they do, and customers are often unaware that they have been exploited.
Why is it happening? The answer lies partly in this comment of Royal Commissioner Kenneth Hayne on page 54 of his <a href="https://financialservices.royalcommission.gov.au/Pages/reports.aspx#interim" target="_blank">interim report</a>: "Much if not all of the conduct identified in the first round of hearings can be traced to entities preferring pursuit of profit to pursuit of any other purpose"
Economists will rightly argue that there is nothing inherently wrong with the pursuit of profit or self-interest. It facilitates the efficient allocation of resources.
But unless it is accompanied by a concern with fairness (“do unto others as you would have them do unto you”) in situations of market power and superior information, as typically occurs in financial markets, it will lead to vulnerable consumers being exploited.
…which is a grey zone of unfairness
There is a large and poorly defined grey area between self-interested but clearly fair behaviour and self-interested unfair behaviour, which, in turn, merges into misconduct and illegal activity.
It is difficult for (particularly large) institutions operating in that grey area, even if committed to “fairness”, to ensure their employees do not slide towards the boundary. Or over it.
Moreover, competition between financial institutions in search of profits can lead to a “race to the bottom” in terms of lower financial product quality. This is not always apparent to some (or many) consumers – at their expense.
The financial sector particularly vulnerable to this problem.
First, many financial products and services are “<a href="https://www.investopedia.com/terms/c/credence-good.asp" target="_blank">credence goods</a>” where the consumer needs them but is unable to assess their real worth either before or after the purchase.
A perfect example is a visit to the doctor. Often the reason we are visiting the doctor is because we don’t know what’s wrong with us. It makes it necessarily difficult or impossible to tell whether the doctor is good at her job.
Bankers sharpen their claws on each other
Second, much of the activity in financial markets is about trading and making profits (supposedly using superior information and expertise) at the expense of the another party in those markets.
If it is “right” for that part of the entity that does that to make money at someone else’s expense, why is it wrong for the part of the entity that deals with consumers to do that?
Here’s how the Commission could have tackled these problems in order to achieve real, longer term benefits.
Yet we license them…
First, it could have considered whether giving financial institutions a valuable “social licence” to operate in important business areas under advantageous institutional structures should bring with it extra enforceable obligations.
It could have also considered whether, given the lack of misconduct found in the mutual and cooperative sector, banks and other financial institutions could be organised more like mutuals.
Second, it could have recommended changes that would have given stakeholders other than shareholders (such as depositors and employees) a greater say in running those organisations (perhaps at board level) and a say in shaping their culture.
…and we could change the way they’re run
Third, it could have recommended structural separation between the retail and wholesale arms of firms to reduce complexity and the risks of deficiencies in control systems.
Structural separation could have also reduced the risk that the culture of trading and position-taking, in which profits are made at the expense of another party, spilled over into other parts of the institution where it wasn’t wanted.
Finally, it could (and should) have concentrated more on consumer protection.
It is a much broader issue than deterring and penalising misconduct.
Until consumer financial literacy catches up with financial product innovation and complexity, there will continue to be a big “market for financial misconduct”.
Exhorting institutions to do no harm won’t take it away.
Kevin Davis, Professor of Finance, 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/do-no-harm-isnt-enough-why-the-banking-royal-commission-will-ultimately-achieve-little-116076" target="_blank">original article</a>.
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Why the banking royal commission will ultimately achieve little

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GUEST OBSERVATION
Private enterprise has shaped the skylines of Australia’s cities, and the names of their highest towers reflect this. The towers of Sydney shout finance: Deutsche Bank, MLC, Ernst &amp; Young, ANZ, Suncorp. The tall buildings of Perth read like a mining index: BHP Billiton, Rio Tinto, Woodside. In Melbourne, residential skyscrapers for investors make up the mass of new development, with names like Aurora, Verve, Empire and Vision – names that are timeless (and placeless).
The recent transformation of Australian city centres makes them appear unruly and wild, with their gilded towers, curtain walls compiled from a cladding company catalogue, and hybrid building types. Two-storey Victorian-era fronts abutt six-storey apartment buildings, or are completely engulfed by towers. This bricolage, paired with aspirational branding, creates the impression that property developers and financiers are the main drivers and shapers of this “anything goes” approach to urban development.
This is partly true. Market-driven development has always played a leading role in the urban settlement of Australia. But markets operate within a framework of rules that mitigate the negatives of urban development for the public good.
Governments have a key role in setting policies, rules and regulations that steer those driving urban development through the morass of planning policies, design guidelines and codes for buildings. Within these planning mechanisms, government actions should reflect the standards and expectations of the communities they represent.
So why is there such a gulf between what the centres of Australian cities look like, including their public spaces, and community expectations? Part of the problem is the lack of guidance about quality design during the planning and design phase and the consistent decision-making necessary to achieve it.
Take Melbourne, for example
Nowhere is this more obvious than some of Melbourne’s recently built tall towers.
Over the two decades up to 2015 there was a lack of strong regulation of planning schemes around taller buildings. In 1999 – when the economy was sluggish – the state government removed density controls from the city centre to allow maximum flexibility in property development.
These controls had established a maximum floor area ratio (FAR) of 12:1. This means that if a site has an area of 1,000 square metres, the construction of 12,000 square metres of floor space is allowed. It might be a building built across the whole site to 12 storeys, or a building on half the site to 24 storeys.
It is only by chance that Melbourne’s height limit was set between 265 metres and 315 metres, so that buildings did not intrude into aircraft flight paths.
The soaring heights of Melbourne’s buildings are not necessarily a major problem. The new residential towers take their share of the 100,000-plus new residents who move to Greater Melbourne each year, and these people are <a href="https://s3.ap-southeast-2.amazonaws.com/hdp.au.prod.app.com-participate.files/2615/2963/7455/Transport_Strategy_Refresh_-_Background_paper_-_Car_Parking.pdf" target="_blank">more likely to walk than drive</a>. And restricting building heights does not necessarily lead to better buildings and neighbourhoods.
However, setting height limits through density controls – regulating floor areas, and apartments, in a building, block or precinct – is an important lever for achieving better design. It’s a form of regulatory “bargaining power”, permitting a few extra floors in return for better public amenity. Without it, there can be many bad outcomes, particularly at street level, as is obvious in some recently built towers.
The City of Melbourne’s 2018 report, <a href="https://s3.ap-southeast-2.amazonaws.com/hdp.au.prod.app.com-participate.files/8915/4882/4706/Post_Exhibition_Synthesis_Report_Amendment_C308.PDF" target="_blank">Promoting High Quality Urban Design Outcomes in the Central City and Southbank</a>, notes a “lack of design investment in the lower 20 metres of building facades and in particular in shopfront design” in the past. The problems include allowing parking above ground in podiums, tinted glass that renders active uses (such as common areas or commercial tenancies) invisible, and poor materials and architectural details that undermine the quality of the streetscape. This can contribute to poor visual connections between building occupiers and pedestrians, which reduces surveillance from above that would help make streets safer.
Some developments just look incredibly cheap and bland. There are flat finishes and facades, tinted glass, floor-to-ceiling glazing with repetitious frames and mullions, building services taking up much of the street frontage – despite the luxury apartment taglines used to market these towers.
Tighter controls for better design
Planning controls in the central city and Southbank area of Melbourne have become tighter since <a href="https://www.theage.com.au/national/victoria/new-cbd-rules-clamp-down-on-excessive-skyscraper-heights-and-densities-20150903-gjersp" target="_blank">interim controls were put in place in 2015</a>. These became permanent in 2016. Most of the podium and infill towers recently springing up in Melbourne received planning permission before then.
The new controls stipulate stronger requirements for minimum street setbacks, overshadowing, wind effects, FAR limits and tower separation. New height limits are based on density controls. However, high-rise apartment towers are still permitted to produce <a href="https://participate.melbourne.vic.gov.au/future/trends/urban-growth-and-density" target="_blank">densities higher than those found in areas of Tokyo or Hong Kong</a>.
These new planning controls have already led to a reduction in above-ground car park podiums, as developers aim to increase their yield in the face of restrictions on floor area ratios.
Despite these new planning provisions promoting quality design, there is still ambiguity around what good design means for Melbourne’s taller building proposals. This becomes an issue when tall buildings are subject to discretionary height limits.
The report <a href="/news">Measurable Criteria to Assess Development Applications Exceeding Preferred Heights: Analysis and Recommendations</a> by MGS Architects observed through several case studies across Melbourne – including in South Yarra and Collingwood – that extra height can be negotiated for projects that demonstrate a “high standard of architectural design”. But good design here may not relate to setbacks, overshadowing, provision of public space, or quality architectural details. It could be because a building is marketed as a “landmark”, “gateway” or “icon”.
But does a building’s height make it a landmark? If so, how high should it be? And should poor public amenity (such as generating traffic or overshadowing) be traded away because a building is “slender” and “sculptural”?
In the case of projects that went to the planning tribunal VCAT, the City of Melbourne report observed: "Where the tribunal was required to make a decision between an acceptable urban design outcome or project viability (such as the ability to achieve a viable tower envelope), viability and consolidation objectives prevailed on balance."
What more needs to be done?
Certainty and consistency are lacking. MGS Architects <a href="/news">writes</a> that this “undermines the public perception of a fair and orderly process for development approvals”.
All property developers, architects and planners desire consistency and clarity in urban planning, design and policy in order to deliver their projects – as do local communities. And despite moves in the right direction in Melbourne, there still is room to improve regulation. This includes introducing clearer density controls in relation to quality architectural design, a design review process in which designers lead decision-making and design-led envelope controls (where quantitative rules about where development is permitted are matched by qualitative rules that focus on how the building interfaces with the public realm).
However, to encourage innovation the regulations should still allow for flexibility.
The growth in Melbourne’s residential towers reinforces to the inhabitants of Australian cities the need to regulate for quality design outcomes. It acts as a warning for strategic town centres in Melbourne, and across Australia, that lack adequate quality control of their taller buildings.
Height restrictions were eased in part of Adelaide’s city centre this decade with the <a href="/news">Capital City Development Plan Amendment</a>. This led to a slew of new commercial, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-07-27/is-it-time-to-implement-postcode-5000-in-adelaide/10039102" target="_blank">residential and hotel buildings over 100 metres</a> proposed or under construction. Let’s hope that, with strong design guidelines, Adelaide avoids the mistakes of some of Melbourne’s recent additions.
Timothy Moore, PhD Candidate, Melbourne School of Design, 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/taming-wild-cities-the-tall-buildings-of-australia-show-why-we-need-strong-design-guidelines-116735" target="_blank">original article</a>.
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The tall buildings of Australia show why we need strong design guidelines

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GUEST OBSERVATION
Are we letting too many or too few migrants into Australia?
For 2019-20 the Australian government <a href="https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels" target="_blank">has cut</a> the annual net migrant intake from 190,000 to 160,000. It’s a political decision, balancing the concerns of those who want much lower or higher immigration levels for a mix of social, environmental and economic reasons.
It’s an unsatisfactory and ad-hoc balancing act. Could there be more “science” in these decisions?
We’ve sought to come up with an evidence-based method to gauge the effects of migration. To do so we’ve used the internationally accepted framework for development planning, the <a href="https://www.un.org/sustainabledevelopment/sustainable-development-goals/" target="_blank">Sustainable Development Goals</a>. The goals cover major aspects of economic, social and environmental well-being, from decent jobs and quality education to good health and clean water.
We investigated three population scenarios: one similar to Australia’s recent annual level of net migration (about 200,000 a year); one much lower (about 70,000 a year); and one much higher (about 300,000 a year).
What our results show, perhaps surprisingly, and more by luck than design, is that recent levels of immigration seem to be in a “goldilocks zone” that balances economic, social and environmental objectives.
Our results also suggest migration is neither the problem nor solution in many areas where Australia is off-track, from government debt to environmental action.
Balancing competing agendas
Immigration policy is Australia’s <a href="https://www.pc.gov.au/inquiries/completed/migrant-intake/report/migrant-intake-report.pdf" target="_blank">de facto population policy</a>. With the birthrate just keeping up with deaths, it’s migration that <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/3101.0">drives</a> population growth. It’s why in 2018 the population passed 25 million, <a href="http://www.ausstats.abs.gov.au/Ausstats/subscriber.nsf/0/77DDF6AF34285E7ACA25693E00033443/%24File/32220_1999%20to%202101.pdf" target="_blank">years earlier than previously predicted</a>.
Annual migration intake is set as part of the the annual budget cycle. The government treats it primarily as a short-term economic issue. But population growth has long-term impacts on many sectors, from health and education to infrastructure and <a href="https://theconversation.com/how-migration-affects-housing-affordability-92502" target="_blank">housing</a>. Population growth, particularly through <a href="https://soe.environment.gov.au/theme/drivers/topic/population-driver-environmental-change" target="_blank">urban expansion</a>, increases pressures on the natural environment.
Ideally, therefore, decisions about migration numbers and population growth should synch with long-term planning at the state and local levels to avoid service shortages, <a href="https://www.smh.com.au/politics/federal/australia-s-lack-of-people-planning-is-a-road-to-nowhere-20180801-p4zut4" target="_blank">urban sprawl, vehicle congestion and infrastructure shortfalls</a>.
The question remains about how to make evidence-based policy that balances deeply divided views. Some strongly support high net migration due to the important role population growth plays in managing an ageing population. Others argue equally forcefully for reducing migration because it places a burden on infrastructure, services and the environment.
Using the sustainable development goals
To negotiate these differences, we chose the <a href="https://sustainabledevelopment.un.org/?menu=1300" target="_blank">UN Sustainable Development Goals (SDGs)</a>. The goals cover long-term targets in 17 major areas of economic prosperity, social justice and environmental sustainability. All member states of the UN, including Australia, have agreed to them as a shared blueprint to achieve by 2030.
<hr>
<a href="https://images.theconversation.com/files/275833/original/file-20190522-187153-5jlh95.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/275833/original/file-20190522-187153-5jlh95.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The 17 Sustainable Development Goals. <a class="source" href="https://sustainabledevelopment.un.org">United Nations</a>
<hr>
Each goal area includes multiple specific targets – 169 in all. For example, Goal 11 (“Make cities and human settlements inclusive, safe, resilient and sustainable”) includes the targets of adequate, safe and affordable housing and affordable, accessible and sustainable transport systems.
Countries are not required to adopt all targets, but focus on those appropriate. We chose 52 targets relevant to Australia, covering all 17 goals and ensuring a reasonable balance of economic, social and environmental priorities.
Using advanced modelling capabilities, we tested how achieving the targets by 2030 might be affected by different population sizes.
Overall, not a huge difference
The following chart shows our results in a single graphic. For our low-migration scenario, Australia’s population in 2030 is 27.3 million; for the moderate, 28.9 million; and for the high, 30.6 million.
<hr>
<a href="https://images.theconversation.com/files/276020/original/file-20190523-187179-3ced24.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/276020/original/file-20190523-187179-3ced24.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
How low, moderate and high population scenarios affect Australian’s performance on the Sustainable Development Goals. The authors
<hr>
Only in two goal areas – education, clean water and sanitation – do our results show Australia doing better than 85% achievement by 2030 under all three scenarios. Only in another three – health, gender equality and energy – do we do better than 50%.  
All scenarios had equal effect on eliminating poverty (<a href="https://sustainabledevelopment.un.org/sdg1" target="_blank">Goal 1</a>). However, the low-migration scenario did better for achieving food security and improving nutrition (<a href="https://www.un.org/sustainabledevelopment/hunger/" target="_blank">Goal 2</a>).
Perhaps surprisingly, for decent work and economic growth (<a href="https://www.un.org/sustainabledevelopment/economic-growth/" target="_blank">Goal 8</a>), the middle scenario scored the best.
In the centre of the chart are the overall scores of each scenario.
The high-migration scenario (39.4% progress towards all targets) is the lowest , but not by much. There is almost no difference between maintaining recent migration levels (40.5%) and significanly slashing the migration intake (40.6%).
This suggests that, on an equal balance across a broad set of competing objectives, recent historic levels may be about right.
However, these results brush over the range of trade-offs between different targets – some of which may be considered more important than others.
Compared against the low scenario, for example, the high scenario results in an estimated 1.7 million extra vehicles on the roads, increased water consumption (~600 million m3), greater urban sprawl (~60,000 ha), and higher greenhouse gas emissions (~15 million tons CO2-equivalent).
Poor performance in many areas
What is perhaps most striking is that, regardless of the population scenario, Australia isn’t tracking well on most measures of sustainable development. <a href="https://www.sdgtransformingaustralia.com/" target="_blank">Other studies</a> have concluded the same.
As already noted, Australia is doing well on health, education and water quality. But it’s performing poorly on climate action (<a href="https://www.un.org/sustainabledevelopment/climate-change/" target="_blank">Goal 13</a>) and responsible consumption (<a href="https://www.un.org/sustainabledevelopment/sustainable-consumption-production/" target="_blank">Goal 12</a>), to name just two.
Broadly accepted frameworks to <a href="https://www.sdgtransformingaustralia.com/" target="_blank">measure progress</a> and weigh policy decisions in contested areas is something we lack across the policy board.
Finding new drivers of job creation, addressing infrastructure needs, and tackling climate change are just some of the complex challenges Australia faces.
Ad-hoc, short-term approaches to addressing them are unlikely to often deliver optimal outcomes. Combining clear targets, a long-term perspective and advances in modelling might help.<img src="https://counter.theconversation.com/content/115136/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;">
Cameron Allen, Researcher, UNSW
Graciela Metternicht, Professor of Environmental Geography, School of Biological Earth and Environmental Sciences, UNSW
Thomas Wiedmann, Associate Professor, UNSW
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/if-you-think-less-immigration-will-solve-australias-problems-youre-wrong-but-neither-will-more-115136" target="_blank">original article</a>.
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If you think less immigration will solve Australia’s problems, you’re wrong; but neither will more

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GUEST OBSERVATION
Tourism today has a problem and needs an entire rethink. Pundits are debating <a href="https://theconversation.com/why-australia-might-be-at-risk-of-overtourism-99213" target="_blank">overtourism</a>, <a href="https://theconversation.com/were-in-the-era-of-overtourism-but-there-is-a-more-sustainable-way-forward-108906" target="_blank">peak tourism</a> and <a href="https://medium.com/@BComuGlobal/they-call-it-tourism-phobia-but-that-s-not-what-s-happening-in-barcelona-cb56b02da97b" target="_blank">tourismphobia</a>. Cities such as <a href="https://theconversation.com/how-to-stop-city-breaks-killing-our-cities-79132" target="_blank">Barcelona</a>, <a href="https://www.theguardian.com/world/2019/jan/06/venice-losing-fight-with-tourism-and-flooding" target="_blank">Venice</a> and <a href="https://www.independent.co.uk/travel/news-and-advice/dubrovnik-cruise-ship-cap-croatia-overtourism-two-dock-a8565166" target="_blank">Dubrovnik</a> are witnessing a backlash against imposed forms of tourism.
In response, new tactics have been tried, ranging from <a href="https://www.theguardian.com/world/2018/jul/14/venice-stewards-stop-antisocial-behaviour--sandwich-poilice" target="_blank">tourist “police”</a> and <a href="https://www.independent.co.uk/travel/news-and-advice/edinburgh-city-tourist-tax-scotland-holiday-city-break-a8769141?fbclid=IwAR2q6q9woKiC226mLbvYkhJcFF5dr-7T2BjsGU9NXAgwn9vsz3uerfPyRlM" target="_blank">tourist taxes</a> to entry fees and <a href="https://www.theguardian.com/environment/2009/sep/06/mass-tourism-environmental-damage" target="_blank">crowd control</a>. Cities are having to rethink their engagement with tourism if they want to keep the locals from <a href="https://amp.theguardian.com/cities/2019/apr/30/sinking-city-how-venice-is-managing-europes-worst-tourism-crisis?CMP=Share_AndroidApp_Twitter&amp;__twitter_impression=true&amp;fbclid=IwAR1DvMXEHG0OFcWeLmuxzd7OBxPbFEGIlO5VDH2Oo--ZhHepL6q3gwVM0-8" target="_blank">rioting</a>.
Fundamental concerns are being raised. If tourism is to have a sustainable future, we need to reorient our focus and put the well-being and interests of local residents at the forefront.
Understanding tourism
Tourism is typically understood from two angles. On the one hand, the focus is on the tourists and the nature of their motivations and demand, in the hope of enticing more. On the other is the business side, focused on developing products and services to provide to tourists.
The industry seeks to grow tourism for profits. Governments support the industry for the jobs and revenues it provides. The result has been a relentless growth in tourism in forms that locals have often not appreciated.
Developments like Airbnb are placing tourists <a href="http://www.traveller.com.au/barcelona-tourism-overtourism-and-bad-behaviour-driving-locals-to-despair-h13vqy" target="_blank">in the heart of local neighbourhoods</a>, disrupting the rhythms of daily life. <a href="https://www.sciencedirect.com/science/article/pii/S0261517717301784" target="_blank">Events are imposed on communities</a>, driving out locals or blighting their quality of life. A case in point is the Newcastle 500 Supercars event, which <a href="https://wrongtracknsw.com/" target="_blank">some locals claim</a> has harmed local businesses and disrupted residents’ lives.
Public assets like the <a href="http://www.adelaide-parklands.asn.au/current-issues/" target="_blank">Adelaide Parklands</a> and <a href="https://theconversation.com/green-light-for-tasmanian-wilderness-tourism-development-defied-expert-advice-104854" target="_blank">Australian national parks and World Heritage areas</a> are being commercialised and privatised for tourism developments.
Shifting the focus to the local community
We could create a different future for tourism if it was reoriented to be centred on the local community. <a href="https://tandfonline.com/doi/full/10.1080/09669582.2019.1601732" target="_blank">Our recently published research paper</a> redefined tourism as: "The process of local communities inviting, receiving and hosting visitors in their local community, for a limited time duration, with the intention of receiving benefits from such actions."
Such forms of tourism may be offered by commercial businesses or made possible by non-profit organisations. But in this restructure of tourism, tourism operators would be allowed access to the local community’s assets only under their authorisation and stewardship.
The seeds of such a transition to more sustainable forms of tourism are already growing.
Respect and fairness go a long way
Venice provides a good example. In 2017, the authorities launched a <a href="https://www.independent.co.uk/travel/news-and-advice/venice-enjoyrespectvenezia-tourism-campaign-paola-mar-travel-campaign-litter-swim-canals-bridges-a7861321" target="_blank">#EnjoyRespectVenezia</a> campaign to overcome problems of poor tourist behaviour.
In 2019, Venetian authorities have gone even further by <a href="https://news.artnet.com/art-world/venice-biennale-city-access-fee-1535137" target="_blank">introducing an entry fee</a> this year and, later, <a href="https://www.independent.co.uk/travel/news-and-advice/venice-booking-system-entry-fee-reserve-overcrowding-overtourism-a8765456" target="_blank">a booking system</a>. Mayor Luigi Brugnaro said: "We intend to guarantee a better liveability for citizens and, above all, for the residents."
But local communities and organisations are not waiting for authorities to act. Community activists are organising to take control of tourism for themselves.
A grassroots initiative from Amsterdam and Venice has resulted in <a href="https://fairbnb.coop/" target="_blank">Fairbnb</a>. It’s a social cooperative designed to challenge the damaging and disruptive model of Airbnb. The new platform “provides a community-centred alternative to current vacation rental platforms that prioritises people over profit and offers the potential for authentic, sustainable and intimate travel experiences”.
Like Airbnb, Fairbnb offers a platform to book vacation rentals. The difference is that 50% of revenues will be directed to local community projects. It also has a “one host, one home” policy – only one property on the market for each host – to limit negative impacts on local residential housing markets.
Meanwhile in Australia …
Australia does not have the same level of <a href="https://theconversation.com/why-australia-might-be-at-risk-of-overtourism-99213" target="_blank">overtourism</a> that places in Europe are suffering. But pressures are building right around the country from Byron Bay and the Great Ocean Road to our bigger cities like Sydney and Melbourne. Locals are complaining about housing affordability, congested roads and badly behaved tourists.
Australia would benefit from strategies to reorient tourism to local well-being and control. Some promising examples already exist.
<a href="https://www.lirrwitourism.com.au/" target="_blank">Lirrwi Tourism</a> in Arnhem Land, Northern Territory, stands out. The Yolngu Aboriginal operators have embraced tourism access but only under a visionary set of <a href="https://www.lirrwitourism.com.au/guiding-principles" target="_blank">guiding principles</a>. These declare “Yolngu have a responsibility to care for country” and “Tourism should never control what happens on country”. It’s an example of tourism on the local community’s terms.
<a href="https://www.theurbanist.org/2015/09/16/melbourne-a-case-study-in-the-revitalization-of-city-laneways-part-1/" target="_blank">Melbourne’s laneways strategy</a> has demonstrated one way CBD revitalisation, resident well-being and visitor experiences can be brought together for great outcomes.
Tourists can play their part by meeting local communities halfway. In a resource-constrained world the pleasures of tourism must be balanced with some basic responsibilities.
Tourists must gain some basic understanding of local living conditions and shape their travel plans accordingly. The focus must be to give locals the maximum benefits from the visit with the minimum negative impacts. The recent campaign <a href="https://www.kathmandu.com.au/helpful-or-harmful" target="_blank">“Helpful or harmful: what sort of traveller are you?”</a> provides a place to start.
The long-term sustainability of tourism depends on ensuring visitors do not wear out their welcome. Reorienting tourism to enhance local well-being is the way forward.<img src="https://counter.theconversation.com/content/116066/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;">
Freya Higgins-Desbiolles, Senior Lecturer in Tourism Management, University of South Australia
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/rethinking-tourism-so-the-locals-actually-benefit-from-hosting-visitors-116066" target="_blank">original article</a>.
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Rethinking tourism so the locals actually benefit from hosting visitors

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Beijing surged to top position among Asia Pacific metropolitan commercial real estate investment markets for the first time in the first quarter of 2019. 
The city’s stand-out performance contrasted with most other markets as total investment volume across Asia Pacific slumped by 36% year-on-year (YOY) compared with the same period of 2018.
China’s economic slowdown, its trade tensions with the U.S. and the global downturn in demand for consumer products took their toll on property investment across the region, Real Capital Analytics’ Asia Pacific Capital Trends Q1 2019 report showed.
Investments totaling US$4.5 billion lifted Beijing into pole position in the first quarter, from seventh place in 2018.
Two mega-deals of over US$1.3 billion accounted for more than half of that figure.
Hong Kong was nudged into second place among Asia Pacific metropolitan markets with an investment volume of US$4.4 billion and Tokyo came in third at US$3.9 billion.
"Traditionally, Beijing was considered a government city, more than a major commercial real estate investment target," Petra Blazkova, RCA’s Senior Director of Analytics for Asia Pacific, said.
"Cross-border capital flows, however, appear to be changing the nature of the market and the city is becoming more appealing to institutional investors."
<a href="https://www.propertyobserver.com.au/images/2019/5/21/retail%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/2019/5/21/retail%201.jpg" alt="">
Source: RCA 
Beijing was one of only a few markets not included in the general regional retreat.
Overall investment volume slid by 36% in the first quarterly of 2019 to reach US$30.5 billion with Asia Pacific markets struggling to match the elevated pace recorded in 2018.
Blazkova added the markets are comparatively late in the real estate investment cycle and prices look high from a historical perspective.
"Global interest rates, however, remain relatively low and the count of pending deals is substantial in markets such as Hong Kong, China and India," he said. 
"On balance, these factors signal that the outlook for Asia Pacific’s investment markets for the remainder of the year may be more upbeat."
<a href="https://www.propertyobserver.com.au/images/2019/5/21/retail%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/2019/5/21/retail%202.jpg" alt="">
Australia’s Retail Investment Market Under Pressure
Real estate investment transactions ebbed in Australia ahead of federal elections on May 18, with deal volume down 27% to US$3.0 billion compared with the same period of 2018. The biggest contributor to the decline was the pull-back in cross-border capital flows.
More broadly, Australia is facing larger challenges with housing prices falling for over a year, led by Sydney and Melbourne.
The retail market too is under pressure, hit by the rise of e-commerce. Discount department stores have been particularly hard- hit amid a wave of shop closures and consolidations.
Blazkova said while the office yield compression in Sydney and Melbourne stopped at or near record lows, more pressure on yields was obvious elsewhere.
"The structural changes ahead of the Australian retail sector have started to impact its pricing," he said.
"Shopping centre yields have moved out by 70 basis points in the last 12 months."
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Australia’s retail investment market under pressure, while Beijing surges: Real Capital Analytics

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Stronghold Investment Management has acquired the Cardinia Club, a freehold investment in Melbourne’s Pakenham. 
Stronghold purchased the property as a trustee for the Stronghold Hospitality Property Trust No.15, a Brisbane based fund manager with several freehold investments in the hospitality industry. 
The Cardinia Club has 105 EGM’s, a large bistro, upmarket sports bar and multiple function rooms. 
The venue was originally part of the Pakenham Racecourse before the Pakenham Racing Club moved its operations to a new racing facility at Tynong North. 
CBRE Hotels negotiated the sale on behalf of the Pakenham Racing Club with a new 13-year lease to Pakenham Racing Club.
Stronghold is projecting an initial cash return of 7.5% per annum for its wholesale investors.
“This gaming investment generated a significant level of interest from the market, but it took an informed investor like Stronghold to recognise the strength of this opportunity with Pakenham Racing Club as its tenant,” Callow said. 
Steve de Nys, Head of Property at Stronghold, commented the club established in 1875, had 160 employees and three venues.
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Investment management company Stronghold snaps up $16 million Cardinia Club, Pakenham

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A Flemington milkbar, known in a previous life as the Macca’s Milk Bar, is set to go under the hammer June 15. 
Held for the last 30 years, 31 Dover Street, in Melbourne's north west is up for auction with a price guide of $800,000 to $880,000.
Set on 183 sqm, the one story home features the original facade.
The vendors say the property dates back to 1894 and had been a grocery store.
It was also once famous for its annual football tipping competition, however it stopped operating as a business in 1999. 
Jerome Feery and Simon Mason of Jellis Craig are marketing the property.
The shopfront facade has been preserved while the interior was reconfigured into a private three bedroom two bathroom residence in 2000.
Featuring a large kitchen and leafy courtyard, records show it last sold for $107,000 in May 1988.
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Flemington milkbar home listed for auction

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The rural property market in the Central West of New South Wales continues to maintain reasonable levels of interest, according to the latest Herron Todd White (HTW) rural report.
Listings have been somewhat subdued for 2019 due mostly to the drought and sub-optimal presentation factor, the valuation firm said.
However, the report notes any properties that have been marketed realistically have been selling with the appetite to purchase still strong.
"A very active rural agent indicated recently that sales are still relatively strong on the back of limited listings," said the report.
"They indicated that 12 months ago there might have been ten to 12 interested parties in a listing, now that number is five or six.
"This validates that the market is still active and orderly marketed and well-priced properties are moving at satisfactory rates."
The Western Division of the state in the more marginal area’s sales have definitely slowed, with very limited transactions occurring. The drought has a very big hold on a large area and paddock feed stocks are all but exhausted. Stock have been sold down and that will continue as no one is confident of a break in the season.
"Even goats are struggling for feed especially tagged animals behind wire. We recently valued a medium sized station in far west New South Wales with full goat fencing and saw only four kangaroos on a one- hour driving inspection and they were under trees near water points and weak,
"While these drought conditions continue there will be limited offerings of property in the western areas of New South Wales. Our observations and discussions with agents indicate that when the season breaks properly there will be numerous offerings of property and plenty of choice for purchasers. This would normally facilitate a flattening of rates and we expect that will happen.
"Overall, so far the drought has had some slowing of transactions and little effect on values and overall interest in rural property, however we are now in March and the early fodder crops and canola planting is not happening. Major rain events need to occur in the very short-term as no one can afford another tough winter with no crop or pasture growing rainfall events."
The major factor now and until there is a break in the season is cash flow and the confidence to service debt.
<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/2019/4/26/bathurst%202.jpg" alt="">
Asherton, a 103 acre rural property in Central West of New South Wales is on the market with a price guide over $1.2 million (pictured above).
Located at <a href="https://www.realestate.com.au/property-other-nsw-bathurst-700030790" target="_blank">75 Ridge Road O'Connell Via, Bathurst</a>, the soft rolling open grazing has been fenced into 7 internal paddocks and a central laneway.
Each paddock has a concrete water trough which is supplied from a solar equipped bore and header tank.
The freshly renovated homestead comes with five bedrooms, open plan kitchen, dining and lounge room, large family room and low maintenance garden. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/26/orange%20.jpg" alt="">
A vineyard situated in the West of Orange has recently been sold for $1.2 million (pictured above).
At an altitude of 800 metres, the property at Lot 19 Bradleys Road, Orange sits on 50 fertile acres of volcanic soil, 32 of which are carrying well-established vines, of mostly red varieties.
The property is favoured with a reliable and plentiful irrigation bore supported by a 40-meg licence allowing for the expansion of multiple agricultural development.
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Central and Western NSW rural market maintains reasonable levels of interest: HTW

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

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;

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;

Staff reporter

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