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Bay Window Villa, a fully renovated 1890s home on an elevated position in Semaphore, South Australia, remains for sale after its recent auction.
Nick Psarros and Melinda Bennett of Ray White Port Adelaide now have a guide of $1.3 million to $1.35 million for the <a href="https://www.realestate.com.au/property-house-sa-semaphore-131097078" target="_blank">Hall Street property</a>.
Nestled on an 860 square metre block, Bay Window Villa at 87 Hall Street comprises master bedroom with ensuite, two other bedrooms, huge formal lounge with bay windows, state of the art kitchen, and laundry with cabinetry and bench space. 
The kitchen comes with stone bench-tops, integrated SMEG dishwasher, SMEG 5 burner gas cooktop, SMEG integrated wall oven and microwave, double sink and room for a double door fridge.
<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/semaphore%202.jpg" alt="">
The original features of the 1890s home include original wrought iron, column fence, bluestone facade, imposing verandah, high ornate ceilings, polished floorboards, and light fittings. 
The backyard completes with alfresco entertaining area, and built-in cabinetry and space for fridge and BBQ.
<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/semaphore.jpg" alt="">
The home is close to retail stores, restaurants, coffee shops, beach and schools. 
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j.ballantyne1990-6AQqhLzZaK

Semaphore trophy home Bay Window Villa listed for auction

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Mount Warren Park, Beenleigh and Windaroo are top of the list for buyer interest on the north-west of Gold Coast, according to a recent Herron Todd White (HTW) residential report. 
The report suggests while market activity and in some cases prices have come off a bit in recent months, it is still possible to find a value for money house or unit.
"There are options for those who want to buy and renovate for a profit or rental returns. Some positively geared options are also around," the valuation firm said. 
"The suburbs we have chosen are established older areas, not flooded with redevelopment, new estates or investors."
A on-ground semi modern house in Mount Warren Park has been sold for $230,000 (pictured above). 
The circa 1990 brick house at <a href="https://www.realestate.com.au/sold/property-unit-qld-mount+warren+park-130205206" target="_blank">14/9 Quinton Court</a> comes with three-bedroom, one-bathroom, tiled roof and single-car garage.
The property includes renovated kitchen, bathroom and new carpets.
It rents for $310 per week with body corporate fees of $40 per week.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/21/windaroo.jpg" alt=""> 
The property at <a href="https://www.realestate.com.au/sold/property-house-qld-windaroo-129568426">13 Mewing Court, Windaroo</a> comprises a semi modern, on-ground, circa 1992, brick three-bedroom, two-bathroom dwelling with single-car garage and tiled roof.
It includes recent floor coverings and paint with original kitchen and bathrooms. Land area is 622 square metres. Property rents for $390 per week.
The compromises are that you are mainly looking at older properties which may require maintenance or updating soon, the report noted.
"When you look at nearby suburbs such as Bahrs Scrub or Holmview where you can buy a new dwelling, these properties are usually priced up to the dollar and can often take some years before you see a capital gain given the premium paid for being new," it advised.
"We consider there to be a likelihood of prices falling somewhat for most of this year in these locations, then hopefully a resurgence in the market thereafter.
"However at present, the rental market in these locations is pretty strong providing a good holding income in the meantime.
"The property to buy as a home or an investment are regarded as the same property in these locations."
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North West Gold Coast's established suburbs offer value for money: HTW

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GUEST OBSERVATION
The Greater Sydney Commission <a href="https://www.greater.sydney/metropolis-of-three-cities" target="_blank">has proposed</a> a 40-year vision of a metropolitan region formed of three “cities”: the Eastern “Harbour” City, the Central “River” City, and the Western “Parkland” City. The plan aims to create 30-minute cities, where the community has access to jobs and services in three largely self-contained but connected regions. Thus, Sydney would be polycentric.
<a href="https://images.theconversation.com/files/272465/original/file-20190503-103071-14wvrq1.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/272465/original/file-20190503-103071-14wvrq1.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The Greater Sydney Commission’s Three Cities Plan. <a class="source" href="https://www.greater.sydney/metropolis-of-three-cities" target="_blank">Greater Sydney Commission</a>
A polycentric city has multiple centres of employment, economic or social activity. Local labour markets and residential zones minimise long commutes, create a sense of place and neighbourhood, and strengthen economic agglomeration as companies, services and industries benefit from being close to one another.
However, it is still unclear whether Sydney is actually moving towards such a structure. In our <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/abs/10.1177/0042098019832517" target="_blank">recent work</a>, we developed new ways of measuring polycentricity. We applied these to <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0.55.001%7E2016%7EMain%20Features%7EJourney%20to%20Work%20to%20Place%20of%20Work%7E60" target="_blank">Journey to Work data</a> from the 2016 Census to test how consistent the current centricity patterns of Greater Sydney are with the proposed plan.
How do you measure polycentricity?
Traditionally, employment densities are used as a measure of polycentricity. If the density of jobs in a location is higher than the average density for the entire region, then it is a centre.
However, this simple measure misses a key notion that makes cities what they are: network flows and spatial interactions. People “flow” from one place to another. Employment centres “attract” flows, and residential areas “produce” flows. Thus, a city is a collection of locations that interact dynamically, connected by daily commuting flows.
We proposed a set of new metrics to capture this idea of flows. We defined the net inflow of people to a location as the total number coming to this location to work minus the total number going from this location to work elsewhere. If the net inflows are positive, this place is a centre.
The chart below illustrates the idea. The base arc on the circle shows the number of people “flowing” out of a location to another location. The connecting arcs are coloured black if the net inflows into the focus regions (a), (b) or (c) are positive.
<a href="https://images.theconversation.com/files/272469/original/file-20190503-103053-1y6xdsk.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/272469/original/file-20190503-103053-1y6xdsk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Testing polycentricity via net inflows: (a) Sydney City and Inner South (Sydney CBD), (b) Parramatta, (c) Eastern Suburbs. Source: The authors
Sydney CBD clearly emerges as a global centre for the whole region. Parramatta is a regional centre. Other locations such as the Eastern Suburbs are not centres at all.
The net inflow to a location can be divided by the total number of trips in the system, so inflow values are scaled from 0 to 1 using a standard statistical procedure. The higher the value, the higher the centre’s rank in the urban system. Here, a score of 1 means the centre is an absolute: all the trips in the system are a net inflow into the centre.
This gives us a trip-based centricity measure. And based on the area of the location, we can calculate a density-based centricity measure.
The maps below show trip-and-density-based measures – (a) and (b) respectively – for Greater Sydney at the Statistical Area Level 2 (representing a community that interacts together socially and economically).
Note the dominant role of the Sydney CBD. The other centres emerge as weak centres. Also, many of the second-order centres are very close to the CBD.
<a href="https://images.theconversation.com/files/272473/original/file-20190503-103060-1ho7ztu.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/272473/original/file-20190503-103060-1ho7ztu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Visualising polycentricity in Sydney (red indicates highest values): (a) trip-based centricity, (b) density-based centricity, (c) transit-accessibility-based centricity, and (d) auto-accessibility-based centricity. Source: The Authors
The concept of accessibility
Counting the net inflow into a location may provide us with information about general centricity. However, it still does not tell us how easy or difficult it is for people to actually get to jobs. This brings us to the idea of accessibility.
Walter Hansen <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/01944365908978307?journalCode=rjpa19" target="_blank">defined accessibility</a> as “the spatial distribution of activities about a point, adjusted for the ability and the desire of people … to overcome spatial separation”. More practically speaking, a location is accessible if it can be reached within a set time (say 30 minutes) from another location.
We counted the net accessibility of a location by counting the number of jobs minus the number of workers (labour) that could be accessed from a particular location (SA2) in Sydney within 30 minutes. We counted travel time both by car and by public transport during a usual weekday peak hour (Wednesday 8am). Similar to the trip and density measures, accessibility centricities can also be scaled as values between 0 and 1. This allows us to compare across the four measures.
In the maps above, (c) and (d) show the transit and auto-based accessibility centricities based on accessibility for public transport and vehicles. Sydney CBD is highly accessible. The second-order centres show much weaker accessibility.
Takeaways for urban policy and the three-cities plan
The chart below shows the top-ranked centre, Sydney CBD (Level 1 centre), and the lower-ranked subcentres (Levels 2 and 3) emerging from our analysis.
<a href="https://images.theconversation.com/files/274555/original/file-20190515-60570-9791ct.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/274555/original/file-20190515-60570-9791ct.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Identified Level 1, 2, and 3 Centres for the Greater Sydney metropolitan region. Source: Authors
Accessibility planning should guide the design of a polycentric city
The design of polycentric Sydney should be guided by accessibility, the locations of jobs and homes, and subregional labour market organisation.
In short, the region should give priority to making jobs accessible by locating new jobs in emerging centres, instead of a mobility-focused system that takes people to jobs.
Reduce spatial mismatches between jobs and homes
Our results show that Sydney, paradoxically, remains strongly monocentric and strongly dispersed at the same time. The Sydney CBD accounts for 15% of jobs in the region, with the remaining 85% of jobs scattered around in weaker second-order centres and non-centres. Positive correlations exist between percentage of employed workers, trip-based centricity and the subcentre ranks.
But we see significant disparities between these ranks and accessibility centricities. This shows the spatial mismatches for commute lengths in the system.
A subcentre with high trip-centricity, employing a high percentage of workers, but relatively lower auto- and transit-based accessibility centricity, implies that even though a significant percentage of the population comes to this location to work, access to jobs at this centre within 30 minutes is low.
A policy response would be to increase the accessibility of jobs from this location, as it already serves as a centre. This situation is particularly clear in the cases of Parramatta-Rosehill and Macquarie Park-Marsfield. Penrith and Liverpool too have extremely weak accessibility centricity.
Polycentric cities should promote spatial justice
As cities grow in size, commute lengths increase if the labour market for the entire metropolitan region is integrated. Commute lengths will stabilise if a city has a clear polycentric or modular structure.
In the case of Sydney, <a href="https://theconversation.com/what-did-the-rich-man-say-to-the-poor-man-why-spatial-inequality-in-australia-is-no-joke-73841" target="_blank">spatial equity</a> has always been a concern. However, <a href="https://theconversation.com/our-big-cities-are-engines-of-inequality-so-how-do-we-fix-that-69775" target="_blank">inter-city comparisons</a> show city size has a strong bearing on its equity and efficiency.
Our results show it’s increasingly important for larger cities to introduce a framework of subregional labour markets as part of the polycentricity agenda. Enabling shorter commutes for workers will improve spatial equity as well as efficiencies.<img src="https://counter.theconversation.com/content/115847/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;">
Somwrita Sarkar, Senior Lecturer in Design and Computation, University of Sydney
David Levinson, Professor of Transport, University of Sydney 
Hao Wu, PhD Candidate, School of Civil Engineering, University of Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-close-is-sydney-to-the-vision-of-creating-three-30-minute-cities-115847" target="_blank">original article</a>.
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How close is Sydney to the vision of creating three 30-minute cities?

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GUEST OBSERVATION
<hr>
The world’s current tallest skyscraper is the Burj Khalifa in Dubai. It’s 828 metres tall, which is over two-and-a-half times as tall as any skyscraper in Australia.
However, there is a skyscraper being built in Jeddah, Saudi Arabia, that will be over 1,000 metres tall when it’s finished. This will be the first building to ever rise over a kilometre high. It will also have 167 floors on top of each other!
So, how tall could we build a skyscraper? It would be difficult, but we could probably build a tower over 2,000 metres tall, which would be like ten normal skyscrapers on top of each other!
This is probably not a very good idea though. Building such a mega-tall skyscraper would use a huge amount of concrete and steel. Using lots of these materials when we don’t need to can be bad for the environment. It’s usually much better for the environment if we build smaller skyscrapers, maybe up to 300 metres tall.
In fact, there are lots of challenges when you design and build a mega-tall skyscraper.
Stopping the wind
The biggest difficulty is the wind. It blows on a skyscraper and tries to push it over, so you need to design a structure that keeps the building stable. The wind can also make a tower sway from side to side, so that people at the very top can even feel seasick.
Architects and engineers have lots of technologies to help stop this. Some of the tallest skyscrapers in the world have a giant pendulum at the top, inside the building, called a “tuned mass damper”.
<a href="https://images.theconversation.com/files/273734/original/file-20190510-183083-1ecnawq.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/273734/original/file-20190510-183083-1ecnawq.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Here’s the tuned mass damper inside a very tall building in Taiwan called the Taipei 101 building. <a href="https://www.flickr.com/photos/rinux/2885421716/in/photolist-786x47-RrdhD-7L5rCf-cdadfE-9iWdLQ-isybyW-iq7AUJ-YMxAgb-5XS9AE-iq7uzQ-isxwRR-iq7xxU-isxND1-isxDju-isymzp-iq7st5-isyenS-isy5sY-71aoRR-iq7cEM-TwioMU-5vz76u-fQnMnK-uN592-fQnLhg-71epUy-iq8ajk-71ec27-4t7LZu-isxG3W-BxzS3-isxkUv-iq7ooj-47K2XM-22ybMDL-25X2Bnr-24zTwBZ-9x5PmD-5oUef8-5oYwzS-RpBdW-yUyNB6-5oYv7S-5VgHEu-5oYs5o-5oYxmh-69mpPE-5oUbkV" target="_blank">Flickr/riNux</a>, <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
Imagine a ball of steel the size of a house hanging from ropes inside a skyscraper. When the wind blows, the pendulum swings back and forth, absorbing the energy of the wind, to stop the building swaying.
Other buildings have pools of water at the top. When the wind blows it makes the water slosh around. Giant paddles in the pool absorb the water’s movement, which stops the building from swaying.
Another way to stop the wind is to use a clever skyscraper shape. When the wind blows on a skyscraper it creates swirls of air called vortices – like whirlpools in the sky.
<a href="https://images.theconversation.com/files/273735/original/file-20190510-183083-1g72pb7.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/273735/original/file-20190510-183083-1g72pb7.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The Burj Khalifa building in Dubai is thin at the top and wide at the bottom, with giant steps down the side. <a href="https://www.flickr.com/photos/103252903@N02/11869658586/in/photolist-j5T6XY-bvr8eu-2bdB2Ch-ssZPHD-sbz7eZ-ed12bb-s9FWWX-ssYYoM-ssZG5H-rwdq5T-s9GeMa-rw1Ruf-sqJApS-sbzvPK-sbz26x-bvr7sA-ssRVyo-sbqZFy-sbsCT9-s9GaN8-st2iQc-sbyXCF-972TXn-9mFgfn-s9GDzk-9r5pz2-ssRyyh-ssZdct-sbs8ZN-s9GJ9R-drKBAV-rwcyVF-s9FATv-ssReuA-rwd8Wa-rwcKLP-sbsE6s-s9G5Gr-sqJsv5-sbywGP-st2aGt-sbqQSw-sqHUpw-ssR47w-dRA4ND-sbqw5m-FhbBWd-sbtfYW-sqJfXq-s9GLsi" target="_blank">Flickr/Adam</a>, <a href="http://creativecommons.org/licenses/by/4.0/">CC BY</a>
If these happen regularly, it can make the building sway back and forth. The Burj Khalifa building in Dubai is thin at the top and wide at the bottom, with giant steps down the side. The steps make the vortices happen at different heights to help stop the building from swaying in the wind.
Getting to the top
Another big challenge is how do you get to the top of a building that is one kilometre tall? Walking up the stairs isn’t an option as there would be more than 3,000 steps!
Taking the lift would be a good idea, but you’d need a very fast lift. Otherwise it would take ages to get up or down the building.
Some of theses lifts can travel at 70km/h, the speed of cars on a highway. At that speed you would go past five floors every second and soon be at the top.
You would also need lots of lifts in a kilometre-high skyscraper. The Jeddah Tower will have 59 of them! They will have super-strong carbon fibre ropes to carry the lift, as normal ropes just aren’t strong enough.
<iframe src="https://www.youtube.com/embed/MP_dFzClszU?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>

Philip Oldfield, Associate Professor in Architecture, UNSW
<hr>
This is part of <a href="https://theconversation.com/au/topics/curious-kids-36782" target="_blank">Curious Kids</a> - a series by The Conversation for children. 
 
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/curious-kids-whats-the-tallest-skyscraper-its-possible-to-build-116817" target="_blank">original article</a>.
Main photo: The world’s current tallest skyscraper is the Burj Khalifa in Dubai. It’s 828 metres tall. But we could go taller. <a href="https://www.flickr.com/photos/tesking/35230242163/in/photolist-VFbcAk-XUwxV5-ddWzVn-ecUobg-thKs8D-p8yc7Z-p8z4Nh-9zaphZ-nzgdq2-aXCFxn-a1rTEu-W7zGAC-qruL8A-qoNCRS-CXF6CY-27gVqk6-WDDTV7-6W5U5M-oXJ8SW-fenkop-bDhUuj-qxQWBt-qkvvXv-dCdUpG-9eazzw-p9wSmd-DpMPAx-eLGTUf-9Xr1s9-pNTkKD-dxMWP5-qNgEsP-nCzh2J-miNEiK-7y39vZ-8o5KK2-bmqe9s-bjisJK-9xbm7r-qcZa6i-8XtsnC-GZYtsF-QLC74r-r4DkEj-9xbn3P-wwN58s-8UZLaq-q6hhD2-q69S27-22Kt5pu" target="_blank">Flickr/Cristian Viarisio</a>, <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a> <a href="https://theconversation.com/profiles/philip-oldfield-140685" target="_blank">Philip Oldfield</a>, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
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What’s the tallest skyscraper it’s possible to build?

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Consolidated Properties Group has sold the management rights to its award-winning Spire Residences in the heart of the Brisbane CBD.
The deal included eight apartments.
The buyer was a private consortium of Queensland-based investors.
The $9 million off-market deal, which has just settled, included the caretaking rights to the building and its grounds over the next 23 years and a property management rental roll of more than 200 apartments.  
The consortium also secured another eight apartments, which will be added to the rental pool. 
In total, the 40-level Spire Residences, at 550 Queen Street, features 340 one and two bedroom apartments, along with on-site facilities including a roof-top infinity edge pool and entertainment deck, gym, cinema and library. 
The building was completed in September 2017 and was recognised with a suite of design and architecture awards last year, including the Residential Architecture - Multiple Housing accolade at the Queensland Architecture Awards.
<img src="https://www.urban.com.au/images/2019/5/21/Don%20ORorke%20at%20Spire.png" alt="">
Consolidated Properties Group Executive Chairman Don O'Rorke (pictured above) said the deal was evidence of the continued confidence in the inner Brisbane apartment market. 
"To secure this deal at $9 million is a strong show of faith in Spire Residences and the inner city market," he said. 
"The consortium saw the opportunity the building represented, as one of the few to be completed at the heart of the CBD in recent years, and acted quickly to purchase both the management rights and apartments.
"Spire Residences has been in high demand with renters, particularly young professionals wanting to live and work in the city - so much so that on completion we continued to receive more than 20 new enquiries a week, even after all the available apartments were tenanted."  
O'Rorke said the sale of the management rights would allow Consolidated Properties Group to put its full focus on its pipeline of new projects, including its multi-use urban renewal projects, Cornerstone Living in Sunnybank and Yeerongpilly Green. 
"We felt the time was right to sell this asset and have full confidence in the consortium of investors who have secured the management rights and who share our positivity in the Brisbane residential market," he said. 
<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/Spire%20Residences%20external%201.jpg" alt="">
Colin Gray, who is part of the private consortium of investors, said the decision to secure Spire Residences' management rights had been an easy one. 
“When the property came up, it took less than an hour to form the view it was a quality management rights business, with a strong return forecast," said Gray. 
"Purchasing the eight apartments for the rental pool is also a show of our confidence to other apartment owners and allows us to demonstrate that, along with the other owners, we too have 'skin in the game'.”   
HWL Ebsworth Lawyers, Pitcher Partners Accountants, Pevy Lawyers and Mike Phipps Finance assisted in the transaction, and Macquarie Bank provided funding for the deal.
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Consolidated Properties Group sells Spire Residences management rights for $9 million

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GUEST OBSERVATION
The Australian Labor Party’s 2019 election campaign showed a depth and breadth of economic policies rare for an opposition party to present. Its policy agenda was boldly extensive. But in developing these policies over the past five years, it seems Labor’s economic minds overlooked some fundamental principles of behavioural economics.
Had greater focus been put on these principles, it is possible Labor would have taken a different approach to selling its credentials, and succeeded in moving more voters its way.
1. People are loss averse
Distinguished psychologists Amos Tversky and Daniel Kahneman demonstrated in the 1970s that losses have a profound psychological impact and people prefer to avoid them. In 1979 they <a href="https://www.uzh.ch/cmsssl/suz/dam/jcr:00000000-64a0-5b1c-0000-00003b7ec704/10.05-kahneman-tversky-79.pdf">published a paper</a> proposing what they called “prospect theory” – that the pain a person feels from a monetary loss is greater than the pleasure felt from a monetary gain of the same value.
<hr>
<a href="https://images.theconversation.com/files/275783/original/file-20190521-23838-r9kptt.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/275783/original/file-20190521-23838-r9kptt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://www.economicshelp.org/blog/glossary/prospect-theory/" target="_blank">economicshelp.org</a>
<hr>
As Tversky and Daniel Kahneman put it succinctly: “Losses loom larger than gains.” This means, when faced with uncertain outcomes, most people prefer keeping the status quo to the risk of change.
Labor’s failure to persuade more voters they would gain more than they might lose under its reforms played to the Coalition’s advantage.
The government was able, for example, to make the most of Labor’s policy on negative gearing by playing on the chance all home values would fall, even though modelling suggested any fall would be minor.
It did something similar with Labor’s franking credit, casting it as a “retiree tax”, and playing on fears that big promises to increase spending on welfare, health, education and wages might mean them losing money from other tax changes.
2. Limited decision-making
People’s decisions are limited by the amount of information they have – a concept known as bounded rationality – and giving them more information doesn’t necessarily help.
Our ability to pay attention to two or three things at the same time is much more limited than we think. We tend to be selectively inattentive, screening out information we perceive as unimportant, and preferencing information that confirms existing views.
Economists Richard Thaler and Cass Sunstein argued in a 2002 article that bounded rationality demanded “<a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=405940" target="_blank">libertarian paternalism</a>” – limiting the choices offered to voters without eliminating freedom of choice.
Labor went another way – burying voters in an avalanche of policy prescriptions. Arguably it overestimated how much people would absorb, and diluted focus on a few key ideas.
<a href="https://images.theconversation.com/files/275608/original/file-20190521-23829-14y6hdh.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/275608/original/file-20190521-23829-14y6hdh.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
System 1 and 2 thinking. <a class="source" href="http://upfrontanalytics.com/market-research-system-1-vs-system-2-decision-making/" target="_blank">www.upfrontanalytics.com</a>
To understand and compare policy detail, according to <a href="https://books.google.com.au/books/about/Thinking_Fast_and_Slow?id=ZuKTvERuPG8C" target="_blank">economist and psychologist Daniel Kahneman</a>, requires a deliberate and methodical approach – what he calls “System 2 thinking”.
But most media and social media deals in “System 1 thinking”, which responds instinctively to short slogans and repeated messaging.
What Labor failed to do was reconcile System 2 idealism with System 1 necessities.
3. Now is worth more than later
People place a higher value on the short-term over the long-term. From an evolutionary perspective, this bias has no doubt served us well, particularly in times past when the future was much more uncertain.
This disposition informs an important economic concept known as hyperbolic discounting – the tendency for people to increasingly choose a smaller reward sooner over a larger reward later.
Say, for example, you were offered a choice between taking $150 now or $160 in four weeks. Most people would take the $150.
But what if you were asked to choose between $150 in 48 weeks or $160 in 52 weeks? Research shows most people would then elect to wait the extra four weeks to receive the higher amount of money.
So Labor faced the problem of it promising to deliver benefits that might take decades to pan out, such as transitioning from fossil fuels to renewable energy, while the Coalition was offering immediate tax cuts and cheaper energy prices. Many Australians, we can imagine, preferred the more immediate benefits to the longer-term ones.
Whatever criticisms might be made about other aspects of the campaign, the Coalition’s messaging demonstrated an intuitive understanding of the behavioural biases of individuals.
From its strategy Labor could learn a lot.
Tracey West, Lecturer in Behavioural Finance, 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/3-lessons-from-behavioural-economics-bill-shortens-labor-party-forgot-about-117404" target="_blank">original article</a>.
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Three lessons from behavioural economics Bill Shorten’s Labor Party forgot about: Tracey West

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GUEST OBSERVATION 
APRA’s scrapping of the 7% ‘stress test’ buffer on home loans will effectively see a 9% increase in borrowing capacity for owner-occupiers which will rise to between 13 and 14% if the RBA undertakes two interest rate cuts before the year is out.
With the current ultra-low interest rate and two interest rate cuts projected by the RBA, APRA’s 7% ‘stress test’ was a major barrier for borrowers in an already highly regulated and scrutinised lending environment. 
However, with the stress test reduced or removed, it would mean that if the interest rate for owner-occupiers was about 3.75%, they would pay about 6.25%, which would create a 9% borrowing capacity. 
If there are no interest rate cuts the increase in borrowing capacity will be an increase of around 4-5% for investors and for owner-occupiers about 9%. 
However, if the RBA cut rates twice, we will see an increase of around 9% for investors and potentially 13-14% for owner-occupiers.  
This will be a major boost to the market, especially as now the number one risk has been removed thanks to a Coalition win and the elimination of the threat of taxation changes to negative gearing and capital gains tax. 
APRA’s introduced a 7% ‘floor assessment’ to the ADIs in December 2014 “to examine the resilience of the largest banks, individually and collectively, and to explore the potential impacts of grim and challenging periods of stormy economic weather”, according to APRA chairman Wayne Byres in July 2018.
While at that point of time this instruction to the ADIs was, indeed, required, this conservative approach could not be applied to the lending landscape of 2019.
In 2014, there was a tangible risk that in the foreseeable future interest rates might increase materially.
Further, a high proportion (44%) of the loans were interest-only and 12% of the loans had LVR of 90%.
That, alongside loose controls over the accuracy of the information provided by prospective borrowers in loan applications and reliance on the HEM to assess household expenses, provided justification for APRA’s instruction. 
The banks also applied a slightly higher rate of 7.25% to ensure they were above the minimum threshold.  
However, since then the lending environment had completely changed and APRA’s requirement had become ultra-conservative.  
Interest rates are now very low with a very high likelihood of additional cuts by the RBA, and no signs of increases in the foreseeable future.
A low interest rate environment has, effectively, become the ‘new normal’ in Australia. 
Loan applications are heavily scrutinised, lenders are applying more conservative credit policies, the proportion of interest-only loans is now low with only 16% of the new loans (December 2018) being interest-only and 7% of loans at 90%.
RiskWise Property Research analysis showed a reduction of at least 1% was needed in order to have some meaningful impact. This is equivalent of the APRA’s announced change, that, while taking a different approach, will put the effective floor assessment at 6.25% for owner-occupiers in the current lending market.  
For example, RiskWise undertook a case study of a scenario involving a married couple, who both receive average weekly earnings at their full-time jobs, and have two children. 
The couple require a loan of 30 years and their only expenses are either HEM or HEM X 1.5, and the assumption is they have no credit card repayments and other expenses.
<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/HEM%20table.jpg" alt="">
Source: Riskwise
Our analysis showed that due to the scrutinising of loan applications and by applying the effective 7.25% 'stress test' this materially reduced their borrowing capacity by 33%.
The borrowing capacity of $698,000, based on the HEM and 'floor assessment' of 7.25%, is equivalent to HEM X 1.5, with an interest rate of 2.87%. 
As a result, the couple would have to totally re-assess their entire purchasing strategy. 
So APRA’s change is equivalent to the required reduction in the floor assessment that has the right balance between having a meaningful impact, while still having good risk-management practices.
DORON PELEG is the CEO of <a href="https://www.propertyobserver.com.au/Visit%20www.riskwiseproperty.com.au" target="_blank">RiskWise Property Research</a>.
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APRA move to scrap stress test increases borrower power: Doron Peleg

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Hollywell is often overlooked in property searches due to its size and the well known surrounding suburbs, according to a recent Herron Todd White (HTW) residential report.
It is a small suburb located just below Paradise Point and just above Runaway Bay on the Gold Coast, Queensland.
It features canal front properties with bridge free broadwater access to a number of sites, as well as broadwater views.
"Whilst the suburb does lack quality shopping facilities, restaurants and cafes, it is within walking distance to suburbs that offer these," the valuation firm said. 
"Furthermore, public transport is readily accessible and runs straight through the middle of the suburb."
Price points within the suburb do range as the property mix comprises units, dry block houses and canal front houses.
"Over the past six months we have seen entry level two-bedroom, two-bathroom units being acquired for just under $400,000, dry block houses selling upwards from $525,000 and canal front properties with bridge free broadwater access from $900,000," the report said.
There was a recent $900,000 sale.
<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/hollywell%201.jpg" alt="">
A circa 1980 five bedroom brick house at <a href="https://www.realestate.com.au/sold/property-house-qld-hollywell-129400990" target="_blank">361 Bay View Street</a>, Hollywell was sold for $900,000 (pictured above). 
The house features updated kitchen with timber floors, solar panels, concrete boat ramp, pontoon jetty and swimming pool.
Other highlights include north-east facing, 18 metre canal frontage with bridge free broadwater access, and 725 square metre land area. 
The property is positioned on a local thoroughfare road that runs through Hollywell, which is a detracting factor.
The property was on the market for 64 days and original asking price was $1.15 million.
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Hollywell, the often overlooked Central North Gold Coast suburb: HTW

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Savills Research noted a turn-around during the first quarter of 2019 with the Brisbane CBD moving into an upswing cycle with increased leasing activity and stronger investor support. 
Savills’ Quarter Times Report has recorded a steady start to the year with the Brisbane occupier market recording net effective rental growth of circa 2% emerging across varying grade quality of buildings. The report also highlighted yield contraction over the 12 months to March 2019 of circa 25bps across A and B Grade assets.  
Anthony Ott, Savills managing director,  said that the research reflects a strong start for the year. 
“Investment activity across the first quarter was in excess of $1 billion worth of CBD office assets transacted or formally being offered for sale with at least another $1billion worth of assets earmarked for sale during Q2.  
“This follows on from a strong 2018, where sale volumes in the Brisbane CBD totalled circa $2.3 billion,” Mr Ott said. 
According to Savills Research asset values of properties formally marketed in the first quarter of the year were up approximately 50% on the corresponding period in 2018.  
“There is positive investment sentiment given the level of activity not only in the CBD but also the fringe and suburban markets and this is continuing to flow through in the second quarter with a number of owners positioning to divest.” Mr Ott said.  
Comparative value of Brisbane assets relative to Sydney has been a key factor in driving increased investor demand. 
“There is a capital value spread between Brisbane and Sydney of approximately $10,000 per square metre and a yield spread of approximately 115bps, so the metrics are pretty compelling,” Mr Ott said. 
Mr Ott said that new projects and infrastructure activity such as Cross River Rail, Brisbane Metro, Queens Wharf, the second runaway at Brisbane Airport, and the Howard Smith Wharves development will all have a positive influence on investors perspective over the next 5 -10 years. 
“These major projects are giving investors’ confidence that Brisbane is entering a new growth phase,” he said.
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Savills sees Brisbane's office market continue upswing following strong 2018

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The NEXT Hotel in Brisbane has sold to Salter Brothers, formerly the SB&amp;G Group.
The property includes a 304-room hotel operated by NEXT Story Group and a retail component occupying a location fronting Queen Street Mall in Brisbane CBD. 
Melbourne-based Salter Brothers is a global fund manager with a focus on specialist property, credit &amp; private equity, including the ownership of multiple hotel assets in America and Australia.
With the addition of NEXT Brisbane, Salter Brothers hotel portfolio now expands to over 2,400 rooms with seven hotels across Sydney, Melbourne, Canberra, Brisbane and the Gold Coast. 
Tom Gibson, Vice President of JLL’s Hotels &amp; Hospitality Group, together with Simon Rooney, Head of Retail Investments - Australasia for JLL, brokered the deal off-market. 
Simon Rooney said mixed-use CBD retail assets in prime locations are typically tightly-held.
“The asset benefits from its location on one of the strongest retail strips in Australia.
"Retailers continue to seek locations which maximise foot traffic and exposure for their business which ultimately underpins tenant demand for super-prime retail strips and precincts, especially in CBD markets nationally. "
Andrew Quillfeldt, Senior Director of Retail Research for JLL, said, “CBD retail is one of the strongest performing retail sectors at present". 
"It’s supported by positive underlying drivers such as strong residential population growth as a result of the last development cycle, strong white collar employment growth, strong tourism growth and key infrastructure upgrades in most markets.
The combination of factors is driving retail spending and tenant demand within CBD markets. " 
Formerly known as Lennons Hotel Brisbane, the 4.5 star hotel is primed for growth with its close proximity to the $3.6 billion Queens Wharf Casino, the $2 billion Brisbane Live entertainment precinct and the recently opened $200 million Howard Smith Wharves project. 
“This is a timely acquisition for Salter Brothers to enter Brisbane as the market begins to mature with its record wave of private and public demand-supporting projects underway”. Mr Gibson said. 
Brisbane is currently in the midst of a market repositioning.
The city has over $12 billion worth of private and public infrastructure projects including a second runway, new cruise terminal and underground railway projects.
Furthermore, with the addition of new and overdue luxury hotel product, such as the W Brisbane, Westin Brisbane, Calile James Street and Emporium South Bank, the market is establishing itself as a major global gateway city. 
“With Sydney and Melbourne hotel markets becoming increasingly difficult to enter, we are receiving record interest for other core markets that feature attractive short- to medium-term market fundamentals, as evidenced by the recent liquidity seen in Brisbane and Perth.” Mr Gibson said. 
For Year-To-Date through April 2019, the total number of room nights sold in Brisbane has increased by 3.5%, showing the market’s resilience through the addition of new supply. 
] 
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Fund management company Salter Brothers buys NEXT Hotel Brisbane

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <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>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Staff reporter

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