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Sustainability expert Davina Rooney will join the Green Building Council of Australia (GBCA) as the new chief executive officer.
She was formerly the General Manager of Sustainability and Corporate Procurement at Stockland.
Davina brings her experience as an engineer and 'change agent' to Australia’s authority on sustainable buildings and communities.
GBCA Chair Rod Fehring said, “Davina has led Stockland to be a global leader on sustainability in property, achieving  a raft of international accolades from leading organisations DJSI, GRESB and CDP. Davina has also steered industry-leading initiatives at Stockland, including the largest rollout of solar panels in the property industry and the most Green Star Design &amp; As Built rated shopping centres in the country.    
Davina said she would focus on achieving real outcomes for low-energy buildings and communities. 
“The GBCA, and outgoing CEO Romilly Madew AO, have had a transformational impact on the Australian market and this is something I look forward to building on in the years ahead. 
Davina won numerous awards including the NAWIC NSW 2016 Sustainability Award, PCA 2014 Future Leaders Award and Sydney University Engineering Young Alumni Award. 
She has contributed to the GBCA as a member of the Green Star Steering Committee for the last three years, and the Green Star Advisory Committee over the last 12 months and has recently completed her two-year term as the Chair of the Property Council’s National Sustainability Roundtable.
The outgoing chief executive officer Romilly Madew AO acted as CEO for more than thirteen years,
She is departing to take on the role of Infrastructure Australia chief executive officer.
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j.ballantyne1990-6AQqhLzZaK

Davina Rooney becomes new CEO of the Green Building Council Australia

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The property group, <a id="LPlnk1025" href="https://p4bne.sharepoint.com/Current%20Clients/31BB/Media%20Materials/optimusdevelopments.com.au" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Optimus Developments</a>, has announced the appointment of Alex Windsor as it's new CEO.
Earlier this year Alex Windsor (pictured below) officially joined the business.
He had previously been working on behalf of Optimus Developments for more than four years as Development Director on the EQ Tower, a 65-level residential project comprising 634 apartments in the heart of Melbourne’s CBD.
Mr Windsor brings more than 15 years of industry experience across architecture, engineering, construction and project management.
Originally from England, Mr Windsor moved to Australia in 2004 and was employed by boutique property company Sinclair Brook in an advisory capacity, before becoming Associate Director and staying at the firm for more than 10 years.
<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/2019/3/14/thumbnail_image013.jpg" alt="" width="240" height="240">
Mr Windsor believes the country’s economic stability ensures a promising future for investors. 
“Australia really is a safe haven for investment compared to the global uncertainty from Brexit and the US/China trade war and our view is that 2019 will remain flat with some market sectors under or over performing,” Mr Windsor said.
“With a strong renewal of market sentiment in 2020, an increased availability of capital funding for mortgages and overall a much more positive outlook and environment for the residential property market, I’m confident we will see the sector continue to grow.”
Mr Windsor added that the company’s upcoming activity remained strongly in providing premium residential options to Australians, though expanding in new areas was also on the cards. 
“We are very focused on Australia’s Eastern Seaboard and specialising in all things residential,” he said.
“That said, we are also interested in diversifying our portfolio to include industrial and commercial assets for long term yield generation and redevelopment opportunity.”
He is currently focused on Optimus Developments making its début into the Queensland property market following the 2017 launch of the $65 million beachside development, 31 Broadbeach.
“With construction of 31 Broadbeach well underway, I'm personally very excited to see this project come to life in my new role as company CEO.”
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Optimus Developments welcomes new CEO

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Matrix Property has sold a development site in the Warnervale Town Centre. 
This subdivision site was bought by a Hong Kong developer who has appointed a local project manager.
The 5.6 hectare residential sub-division site along Hiawatha Road has planning for up to 85 lots and incorporates over 6,000 sqm of dedicated parkland. 
The property is part of the master-planned Warnervale Town Centre, one of the Central Coast's largest development and growth areas projecting 40,000 new residents over the next 20 years. 
It was sold under instruction from the mortgagee for $6.4 million. 
The site has 2 existing frontages via Hiawatha and Hakone Roads. 
“The EOI attracted over 80 enquiries and over 8 offers as it’s a vanilla subdivision site in a major land release area” Commented Godfrey Franz – Head of Central Coast/ Hunter for Matrix Property Group, a specialist Development Site Commercial Sales Agency. 
“Further the area is popular with first home buyers at lower prices hence the popularity of the offering to potential developer buyers producing housing product in the sub $700K price point” 
“Despite the anxious outlook for property we are not seeing it and given the success of this campaign we are seeing many confident and cashed up developers coming back into the market ” he concluded.
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Warnervale development site sold for $6.4 million

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For the 18th straight year, Raine &amp; Horne Double Bay/Bondi Beach has retained its mantle as the best office in NSW in the Raine &amp; Horne network.
The Double Bay firm, led by Ric Serrao and Martin Maskin, was named Top Office for Dollar Value, and second for Number of Sales. 
Mr Serrao was named Top Salesperson (Principal) Dollar Value and placed second in the Top Salesperson (Principal) – Number of Sales. 
He was also named the network’s Top Auction Lister.
In the Top Salesperson (Dollar Value) category, the Double Bay office’s Hannan Bouskila, Paul Langsam and Graham Berman finished in the Top Ten. 
The Double Bay-based office was also named Top Multiple Office (Dollar Value), while Matt Serrao won recognition as Business Development Manager of the Year. 
Mr Serrao told the 400-strong audience that he was thrilled with his firm's award-winning achievements. 
The Double Bay firm will be recognised as Australia’s best in the Real Estate Agency Single Office category at the <a id="LPlnk452207" href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=I%2BqMhXDuIS2RujNbavWSOKShOr7Ezi73JeGvxlkJ09Qb0kDpZZQFeP6B4USdWcJ3s9o3Delk3rYiEkcLSjrV1b%2BlXh078mqOgCwh2Ktlzit2YrCleMHz5Q9Ipy8dj765D05R4lwpWR0%3D&amp;G=0&amp;R=http%3A%2F%2Fwww.propertyawards.net%2F&amp;I=20190312234405.00000089d461%40mail6-46-ussnn1&amp;X=MHwxMDQ2NzU4OjVjODg0NDNhZDIyYzBhNzQ4YTY2ODY2NDs%3D&amp;S=OgAvjTDgfgGXk5REE2IAC7unkqLoAZWJOLE0y-T7GZI" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Asia Pacific Property Awards</a> in Bangkok on the 14th-15th May. 
Led by principal <a id="LPlnk195010" href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=I%2BqMhXDuIS2RujNbavWSOKShOr7Ezi73JeGvxlkJ09Qb0kDpZZQFeP6B4USdWcJ3s9o3Delk3rYiEkcLSjrV1b%2BlXh078mqOgCwh2Ktlzit2YrCleMHz5Q9Ipy8dj765D05R4lwpWR0%3D&amp;G=0&amp;R=https%3A%2F%2Fwww.raineandhorne.com.au%2Fbatemansbay%2Fcms_lists%2F103%2Fcms_pages%2F1820&amp;I=20190312234405.00000089d461%40mail6-46-ussnn1&amp;X=MHwxMDQ2NzU4OjVjODg0NDNhZDIyYzBhNzQ4YTY2ODY2NDs%3D&amp;S=z7h2o9_7u6kGT3nJuT26dDF6pqaZbjs0QCK4BpGWtcM" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Adam Porteous</a>, Raine &amp; Horne Batemans Bay, from the NSW South Coast, was able to upstage its Eastern Suburbs rival by taking first place in the Top Office (Number of Sales) category.
Mr Porteous says his team is happy to adopt the latest technologies such as Amplify, a world first initiative in artificial intelligence (AI) technology that enabled the entire Raine &amp; Horne global network to promote and sell over 6,500 listings in 2018 through social media. “All our agents have used Amplify on campaigns and we even have our administration team encouraging vendors to use it to market their properties as widely as possible.”
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Raine & Horne Double Bay/Bondi Beach retain top network spot for 18th year straight

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According to the ATO up to 500 Tasmanian small businesses can be expecting a knock on the door from the ATO in March.
ATO Assistant Commissioner Peter Holt said businesses that advertise as 'cash only' and businesses that are operating outside will be especially targeted for a visit from the ATO.
“Businesses that pay cash in hand, or fail to lodge income tax or business activity statements get an unfair advantage and make it harder for other businesses who are doing the right thing. By detecting and addressing this behaviour, we’re helping ensure a level playing field for honest small businesses.”
Tasmanian businesses in the following industries are most likely to get a visit from the ATO in March:
<ul>
<li>Restaurants and cafes</li>
<li>Vehicle repairers</li>
<li>Personal care businesses including hairdressers and nail salons</li>
<li>Pharmacies</li>
<li>Construction businesses</li>
<li>Clothing stores</li>
<li>Grocery stores / small supermarkets</li>
<li>Butchers</li>
</ul>
“In the 2019-20 financial year, we’ll be visiting a further 10,000 small businesses across the country, including in Tasmania”, Mr Holt said.
Tasmanian businesses who are not declaring income or underpaying workers are contributing to the black economy.
“The black economy is estimated to be costing the community as much as $50 billion, which is approximately three percent of Gross Domestic Product (GDP). This is money that the community is missing out on for vital public services, like schools, roads, healthcare, and infrastructure”, Mr Holt said.
Whilst on the road in Tasmania, ATO officers will also be available to help those businesses that are trying to do the right thing.
“We obviously want businesses to succeed, so we put a lot of effort in to support, education, and assistance services. We offer seminars, videos, a dedicated small business newsroom, an after-hour call back service, even an app that businesses can use to check the performance of their business on the go”. Mr Holt said.
“We understand that people are busy and most businesses are trying to meet their obligations – but there is a difference between needing help, making mistakes and deliberate cover-ups.”
Mr Holt said the ATO will not hesitate to take strong enforcement action against those deliberately avoiding their tax and super obligations and the visits may uncover this deliberate non-compliance.
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500 Tasmanian businesses, including construction companies can expect an ATO visit in March

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The Independent Pricing and Regulatory Tribunal (IPART) is reviewing the fees associated with electronic conveyancing (eConveyancing) for the first time.
Around 85% of property transactions in NSW will be required to use eConveyancing from 1 July 2019.
Transactions such as transfers, mortgages and caveats will have to be lodged electronically.
eConveyancing is designed to be a more efficient and accurate way of conducting the settlement and lodgment stages of a conveyancing transaction.
IPART Chair, Dr Paul Paterson, said IPART’s review is focused on the fees charged by and to the electronic lodgment network operators (ELNOs). 
ELNOs operate electronic workspaces allowing lawyers, conveyancers and financial institutions to exchange data and collaborate to prepare conveyancing documents, settle funds, pay duties and lodge documents with the land registry online instead of on paper.  
“Essentially, eConveyancing allows parties to complete conveyancing transactions (like a sale of land) and disburse settlement funds electronically,” Paterson said.  
“The electronic lodgment network also allows other documents that are not necessarily part of a sale, such as caveats, to be lodged electronically.”
Currently there is only one ELNO in NSW, PEXA.  Another ELNO, Sympli, is expected to commence operations in NSW during 2019, with the prospect of more entering the market soon.
A paper released by IPART today seeks feedback on a range of issues to be considered as part of the review. These include: 
<ul>
<li>The state of the eConveyancing market, including possible barriers to entry such as the lack of arrangements for different ELNOs to participate in a transaction</li>
<li>The maximum fees that ELNOs charge lawyers, conveyancers and financial institutions to use the electronic lodgment network </li>
<li>The maximum fees that the NSW Land Registry Services charges ELNOs </li>
<li>The maximum fees that Revenue NSW can charge ELNOs in the future. </li>
</ul>
“We are also looking at the costs that will be incurred to connect multiple ELNOs when more enter the market, and how these costs should best be recovered to drive efficient outcomes and avoid excessive charges,” Paterson said. 
Submissions on the Issues Paper will be received until 30 April and considered by IPART before a draft report is released by July.
Recommendations on the final prices will be provided to the NSW Government by October 2019.
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IPART to review electronic conveyancing fees for the first time

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More than 2.1 million taxpayers are claiming $47.4 billion in deductions against $44.1 billion in reported income, the Australian tax commissioner Chris Jordan said in a speech in Hobart.
Looking at the scale of deductions claimed, “you can get a sense of the potential revenue at risk”, he said.
Jordan told a conference of tax agents that the ATO had been making random inquiries about tax returns.
“Our auditors have now completed over 300 audits on rental property claims and found errors in almost nine out of 10 returns reviewed,” he said.
“We’re seeing incorrect interest claims for the entire investment loan where it has been refinanced for private purposes, incorrect classification of capital works as repairs and maintenance, and taxpayers not apportioning deductions for holiday homes when they are not genuinely available for rent.”
As some 85% of taxpayers with rental properties have help with their tax returns, Jordan said agents could reduce the incorrect claims.
The ATO has made a <a href="https://www.ato.gov.au/individuals/tax-return/2018/in-detail/publications/rental-properties-2018/" target="_blank">guide for agents</a> covering how to deal with rental properties.
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Nine out of 10 property investors making tax claim errors: ATO

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Demand for fixed rate home loans fell in February, according to new data from Mortgage Choice.
The broker's latest national home loan approval data showed demand for fixed rate home loans fell over the month of February, accounting for 22.82% of loans - a reduction of 1.05% from the month prior.
Demand for fixed rate loans had picked up in the latter half of 2018, in what may have been a response to rate hikes on variable home loan products.
Mortgage Choice found that borrower preference varied across the country :
<ul>
<li>Borrowers in Queensland were the most likely to fix their interest rate, with over 25% opting for a fixed rate home loan; </li>
<li>This was followed by New South Wales where over 24% of borrowers chose to fix their home loans; </li>
<li>In South Australia 22% of borrowers opted for a fixed rate mortgage;</li>
<li>In Western Australia 20% of borrowers chose to fix;</li>
<li>And Victorians continue to prefer variable rate home loans with almost 17% choosing to fix their home loans.</li>
</ul>
<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/2019/3/14/susan-mitchell_ceo_mortgage-choice_b.jpg" alt="">
Mortgage Choice Chief Executive Officer Susan Mitchell (pictured above) said a number of reasons may be discouraging borrowers from locking in to a fixed rate.
“Mounting speculation that the Reserve Bank may cut the official cash rate later this year may be weighing on borrower expectations around interest rates. These borrowers, who are expecting interest rates to fall in the near term may be less inclined to lock in to a fixed rate,” said Mitchell. 
“Borrowers’ caution may be compounded by continued property price falls in the nation’s capitals which, according to the latest figures from CoreLogic fell 0.9% in the month of February. 
“In the current property market, it is unsurprising to see an increase in demand for variable rate loan products. These loans are more flexible and allow borrowers to make added loan repayments, access home loan features such as an offset account and redraw facility, and of course save on their loan repayments if their interest rate drops.
“That being said, fixed rate loans are still an attractive option to people who are looking for certainty in their home loan repayments.  This is particularly important at a time when there is considerable uncertainty in the market.
“Fixed rate loans may be a suitable option for borrowers who foresee a potential change to their income or, budget constraints.
“At present, there are many deals to be had for those looking to lock in a fixed rate, with two-year fixed rate loans on our lender panel as low as 3.69% p.a.* it’s a great time to review your home loan.
“My advice for anyone looking to have the best of both worlds is to speak to their mortgage broker about splitting their loan, which allows a borrower to allocate a proportion of the loan to a fixed interest rate, and a proportion to a variable interest rate depending on their financial situation.”
* NAB First Home Buyers Special 2 Year Choice Fixed Rate OO P&amp;I accurate at 8 March 2019
<a href="https://www.propertyobserver.com.au/images/2019/3/14/1.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/2019/3/14/1.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/3/14/2.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/2019/3/14/2.jpg" alt="">
Source: Mortgage Choice
 
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Fixed rate demand falls in February: Mortgage Choice

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Plans for a new resort-style water park in Melbourne’s south-eastern suburb of Dingley Village have been unveiled.
Upon completion, the $100 million project will be the largest indoor water park in the southern hemisphere.
The project is a venture between diversified property group Pellicano and hospitality group Zagame along with Canadian-based leading water park professionals WhiteWater West and local architectural practice Peddle Thorp.
To be known as Zagame’s Wild Water Park, the facility will provide 18,200 square metres of indoor and 20,000 square metres of outdoor water attractions.
The park will include a 180-degree semi-circular stand-up surf pool, a tunnel-like wave ski-slide complete with video controls and an indoor-outdoor ‘lazy river’.
The park will utilise an eWater system, solar power technology, systems for the collection and reuse of rainwater, extensive plantation of indigenous wetland vegetation and a concentration on composting, recycling and biodegradable processes. 
<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/2019/3/5/Pellicano_Water%20park_Render%201.jpg" alt="">
Pellicano managing director Nando Pellicano said it will provide visitors and the wider community with both fun and education. 
“Pellicano has owned this site for over 30 years and is thrilled to reveal our plans to inject much-needed, year-round, all-weather fun into Melbourne’s family entertainment landscape,” he said.
“At Pellicano we consistently aim to deliver high-quality, dynamic projects and we  have made every effort to incorporate this ideology of excellence in the planning stages of this project.” 
Pellicano and Zagame previously collaborated on the regeneration of Paradise Resort on the Gold Coast.
Zagame Corporation’s director Robert Zagame says partnering with Pellicano for this project was an exciting opportunity for the company.
“This partnership was a natural fit for Zagame’s; as a well-established family-owned business, Pellicano’s values align closely with our own and we both continue to maintain a benchmark of excellence in all our business dealings,” Zagame said.
“With both companies established in Victoria, we embrace any opportunity to position our home state as the place to be, and we’re excited to witness the economic benefits a major tourism project such as this will deliver to our home.” 
“Upon completion we will not only be opening our doors to leisure and fun seekers but to primary, secondary and tertiary students who will benefit from behind-the-scenes exposure to the best-practice engineering and technology which will be on display.” 
WhiteWater West’ s President and CEO, Geoff Chutter, said it was thrilled to be part of the project.
“We’re proud that our local branch, WhiteWater West Australia will be partnering with Australian companies to build this ground-breaking water park that features some of our most iconic rides and will provide huge entertainment value for families,” Chutter said.
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Plans for largest indoor water park in the southern hemisphere in Dingley Village revealed 

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GUEST OBSERVATION
A rail line to the northwest growth areas of Sydney has been proposed many times. In 2010, the state government and bureaucracy sought discussions with Infrastructure Australia and the Commonwealth about funding an extension of the heavy-rail system from Epping on a North West Rail—Hills District Line. In 2012, the new transport minister (and now premier), Gladys Berejiklian, changed the plan, opting for a single-deck robotic privatised metro similar to those proposed by property developer and rail operator Hong Kong MTR. The government decided to close the Bankstown line for <a href="https://www.sydneymetro.info/" target="_blank">Sydney Metro</a> conversion and upzone surrounding suburbs for “urban activation”.
<img src="https://images.theconversation.com/files/263282/original/file-20190312-86717-16i983z.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
OpenStreetMap Contributors, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
Days before Christmas 2018, we transport analysts received a gift: an update to the station <a href="https://opendata.transport.nsw.gov.au/dataset/train-station-entries-and-exits-data" target="_blank">barrier counts dataset</a>. The government had not released this annual snapshot since 2014. (An interactive data visualisation tool is available <a href="https://app.powerbi.com/view?r=eyJrIjoiZGIxNjBiNTMtNjFiZS00NWExLTg1NjgtYWE4Y2FjN2FhZGZiIiwidCI6ImU4OTExYzI2LWNmOWYtNGE5Yy04NzhlLTUyNzgwN2JlODc5MSJ9" target="_blank">here</a>.)
The below analysis uses average workday (Tuesday, Wednesday and Thursday) patronage to describe the changing demand across the Sydney rail network (<a href="https://www.railmaps.com.au/sydney.htm" target="_blank">click here for a map</a> of the network) and determine where the need for transport infrastructure investment is greatest.
The analysis clearly show that the metro conversion of the Bankstown line should not be Sydney’s top-priority investment. The numbers make clear the need to invest the state’s limited funds in the western and southern corridors with matching investment in the CBD. The Bankstown project should be deferred.
Demand on Sydney’s western and Illawarra heavy-rail corridors has surged since 2004 (when barrier counts began). These are two of the city’s most important transport trunks. The Bankstown line has much lower patronage with modest growth.
Every transport infrastructure investment must deliver value for money by reducing operating costs and improving mobility. If we fail to invest wisely, Sydney risks becoming uncompetitive as talent and businesses leave for better-connected and more liveable cities.
The Bankstown decision from a 2012 perspective
To determine if the Bankstown conversion was the highest priority in 2012 we need to consider the information available to the minister at the time. Let’s start with the obvious questions: in 2012 was the Bankstown line or its major stations under significant load or growing quickly?
<iframe style="border: none;" src="https://datawrapper.dwcdn.net/ZAzc9/2/" frameborder="0" width="100%" height="400"></iframe>
The above chart shows five of the top 20 stations were in the CBD, six were on the Eastern-Illawarra line, and nine were on the West and North lines. Bankstown line stations were not especially popular: Bankstown station was 27th most popular, Campsie 35th, Lakemba 53rd and Marrickville 63rd.
Another reason to justify the Bankstown line conversion would be rapid growth. However, in 2012 the ten stations with the fastest growth since 2004 were in the CBD and on the West, South, North and Airport lines.
<iframe style="border: none;" src="https://datawrapper.dwcdn.net/7mOg9/1/" frameborder="0" width="100%" height="400"></iframe>
From 2004 to 2012, Parramatta grew by 4,600 passengers on an average workday, and Hurstville by over 4,100. Growth at Campsie and Lakemba was a mere 1,000 passengers a day, and only half of that at Bankstown.
<iframe style="border: none;" src="https://datawrapper.dwcdn.net/1aTzv/2/" frameborder="0" width="100%" height="400"></iframe>
So when the development decision was made the Bankstown line stations were not major stations, nor under significant load, nor growing quickly. This raises questions about the Metro conversion investment.
The Bankstown decision from a 2018 perspective
Passenger demand grows on a train line for many reasons. In 2012, Berejiklian might have been aware of a coming surge in patronage on the Bankstown line. In 2018, have we seen such a surge?
Sydney railway patronage has indeed surged overall, growing by over 450,000 people on an average workday since 2004. By 2018, the distribution of these passengers had changed significantly. Ashfield, Epping, Hornsby and Kogarah slipped out of the top-20 stations to be replaced by Mascot (17th), Auburn (18th), Lidcombe (19th) and Museum (20th).
Bankstown line stations had become less important:
<ul>
<li>Bankstown slipped to 33rd most popular</li>
<li>Campsie rose to 35th</li>
<li>Marrickville was steady at 62nd</li>
<li>Lakemba plummeted to 67th.</li>
</ul>
<iframe style="border: none;" src="https://datawrapper.dwcdn.net/0paex/1/" frameborder="0" width="100%" height="400"></iframe>
From 2012 to 2018, Town Hall ranked first for patronage growth with a workday increase of 28,900 passengers. Parramatta was fourth with 15,400 and Hurstville 16th with 4,600.
On the Bankstown line Campsie ranked 33rd with growth of 2,000 and Bankstown 49th with 1,400. Estimated patronage at four of the stations – Wiley Park, Yagoona, Lakemba, Regents Park – actually fell.
After land around Canterbury was transformed into many massive apartments, patronage at the station grew by 1,300 workday passengers since 2012. Even with the development, it still had only 3,200 workday passengers, leaving the station 91st in the whole sprawling network.
Comparing sections of the network
Multiple stations operate in concert and to be thorough we also need to consider how sections of the network compare.
The ten Bankstown line stations from Marrickville to Bankstown had 36,800 workday passengers in 2012. By 2018 this had grown by 7,000 to 43,800 workday passengers. It is still a relatively quiet line.
The North line from North Strathfield to Epping had eight stations with 36,100 workday passengers in 2012. By 2018, this had grown by 12,700 workday passengers to 48,800.
Over the same period, the 13 stations on the Illawarra line from Arncliffe to Sutherland grew by 15,600 to 79,400 workday passengers.
The three Eastern Suburbs line stations from Kings Cross to Bondi had higher patronage in 2012 than the Bankstown line with 40,200 workday passengers. Patronage on those three stations alone also grew much faster, by 17,600 in six years to 54,800.
Patronage on the Western corridor (Macdonaldtown to Blacktown) has grown by 58,000 to over 225,000 workday passengers. On the Illawarra corridor patronage grew 25,000 to over 103,000.
Remember, patronage on the Bankstown line grew by only 7,000 in this 2012-18 period.
Looking at key stations between 2004 and 2018:
<ul>
<li>Bankstown patronage grew by 25%</li>
<li>Stanmore, which doesn’t have a lift and gets only one train every 15 minutes, grew by 33%</li>
<li>Burwood grew by 64%</li>
<li>Parramatta by 79%</li>
<li>Newtown by 100%</li>
<li>Homebush by 125%.</li>
</ul>
In the Illawarra corridor:
<ul>
<li>Hurstville station grew by 66%</li>
<li>Erskineville by 97%</li>
<li>Banksia, Carlton and Allawah stations all had over 100% growth.</li>
</ul>
The City Circle from Redfern to Circular Quay and back grew by 159,000 workday passengers from 236,000 in 2004 to 395,000 in 2018 – a 67% increase.
In 2012, the city’s first transport priority was another north-south harbour crossing. However, it was decided instead to build the Sydney Metro under the harbour and then take both of the CBD’s north-south heavy-rail corridors. This significantly increased the cost and complexity of expanding the heavy-rail system.
Sydney’s second transport priority was always a western relief line. Every transport investigation since the 1971 Sydney Area Transport Study has identified this need.
What next?
On February 11, the state Labor opposition <a href="https://www.smh.com.au/politics/nsw/labor-commits-8-billion-to-fast-track-sydney-metro-west-20190211-p50wyi" target="_blank">promised $5 billion</a> for the Western Metro, in addition to $3 billion previously promised by the federal Labor opposition.
On March 4, the state Coalition government <a href="https://www.smh.com.au/politics/nsw/nsw-premier-says-construction-of-metro-west-line-to-begin-2020-20190303-p511g6" target="_blank">announced $6.4 billion</a> for a Western Metro, with the construction date to be brought forward.
The government announcement was made after the caretaker period for the March 23 state election had begun, so no technical or financial documentation was released. The government statement said the final business case was not complete, indicating that the Western Metro project was still in the early planning stages.
With a slowing economy and falling house prices there will be a post-election reprioritisation of NSW project spending. When this happens, the next government should give higher priority to the western rail corridor than the Bankstown corridor.
Postscript
Any discussion of infrastructure decisions should note the affected electorates. The seats around the Bankstown line and their <a href="http://pastvtr.elections.nsw.gov.au/SGE2015/la/state/tpp/index.htm" target="_blank">vote tallies</a> in the last state election are:<img src="https://counter.theconversation.com/content/111844/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;">
<ul>
<li>Summer Hill (Labor 70.13% two party preferred in 2015)</li>
<li>Canterbury (Labor 65.69%)</li>
<li>Lakemba (Labor 71.56%)</li>
<li>Bankstown (Labor 63.97%)</li>
<li>Auburn (Labor 55.93%)</li>
<li>Fairfield (Labor 67.79%).</li>
</ul>
Mathew Hounsell, Senior Research Consultant, Institute for Sustainable Futures, University of Technology Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/which-lines-are-priorities-for-sydney-metro-conversion-hint-its-not-bankstown-111844" target="_blank">original article</a>.
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Which lines are priorities for Sydney Metro conversion? Hint: it’s not Bankstown

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

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

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]

Staff reporter

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