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Terrigal had the biggest median price decline in all New South Wales localities, according to a recent Investar report.
The property investment advisory firm says that both Terrigal's median townhouse price and median house price decreased by over 38% in the past five years.
This was followed by Tuncurry with a near 32% decline. 
<a href="https://www.propertyobserver.com.au/images/2019/1/24/nsw%20investar.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/2019/1/24/nsw%20investar.jpg" alt="">
The cheapest Terrigal offerings are typically bungalows in its bungalow village.
A two bedroom offering in the Terrigal Bungalow Village has been recently sold for $200,000 (pictured below).
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-terrigal-129153682" target="_blank">109/474 Terrigal Drive</a>, the house comes with two spacious bedrooms, large living areas, sunny front veranda, and the original kitchen in immaculate condition.
The bus stop is at the park entrance on Mobbs Road. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/24/terrigal%201.jpg" alt="">
Another two bedroom house was sold for $170,000 in the last year (pictured below).
The house at <a href="https://www.realestate.com.au/sold/property-house-nsw-terrigal-127662306" target="_blank">69/474 Terrigal Drive, Terrigal </a>features two bedrooms, office or third bedroom, self-contained laundry and north facing backyard.
It's just minutes from Erina Fair, Medical Centre's and Terrigal beach.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/24/terrigal%202.jpg" alt="">
 
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j.ballantyne1990-6AQqhLzZaK

Terrigal sees biggest median price decline in NSW: Investar

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Australian global insurer QBE will join anchor tenant ANZ in Victoria Harbour’s 839 Collins Street office building.
QBE will occupy around 6,000 square metres across three floors and will move approximately 400 employees from 628 Bourke Street by mid-2019.
ANZ has already leased 26,500 square metres of the building.
The building was designed by award winning architect Denton Corker Marshall.
All tenants have access to a north-facing outdoor garden and terrace with a multi-purpose sports court, event spaces and BBQ facilities.
Opening as the lobby’s restaurant and café this year is, The Other Brother. 
The 39,000 square metre building is now close to being fully leased and will reach practical completion in March.
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QBE joins ANZ in Victoria Harbour office building

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ASIC has issued a consultation paper to update its guidance on responsible lending.
The (<a href="https://asic.gov.au/regulatory-resources/find-a-document/consultation-papers/cp-309-update-to-rg-209-credit-licensing-responsible-lending-conduct/" title="CP 309 Update to RG 209: Credit licensing: Responsible lending conduct">CP 309</a>) ASIC guidance has been in place since 2010 when the responsible lending laws were first introduced. Although the laws have not changed since 2010, ASIC considers it timely to review and update the guidance in light of its regulatory and enforcement work since 2011, changes in technology, and the recent Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Our review of RG 209 will consider whether the guidance remains effective and identify changes and additions to the guidance that may help holders of an Australian credit licence to understand ASIC’s expectations for complying with the responsible lending obligations.
ASIC welcomes submissions on the update of our guidance on responsible lending from any interested party. In the consultation paper we have asked a series of questions about specific matters. We are also keen to hear from stakeholders about any other issues considered important that are not dealt with in the consultation paper.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/Subscriber%20strip%20ad.jpg" alt=""></a>
ASIC is also considering whether to provide an opportunity for key stakeholders to speak to the Commission at public hearings in addition to making written submissions.
Further information about the consultation and its progress will be available on the ASIC website.
“The responsible lending obligations are an integral part of the regulatory framework for all consumer loans” said ASIC Commissioner Sean Hughes. “ASIC wants to ensure its guidance provides industry with certainty, including as a result of emerging technology and initiatives such as open banking and comprehensive credit reporting. We encourage everybody to participate in this extensive consultation process”.
The consultation is open for a period of three months, with comments due by Monday 20 May 2019.
<h2>Background</h2>
Regulatory Guide 209 Credit licensing: Responsible lending conduct (RG 209) contains ASIC’s guidance on responsible lending for consumer credit. RG 209 was issued in 2010 and last revised in November 2014.
Since then there have been many matters that now mean it is timely for ASIC to update its guidance.
<ul>
<li>ASIC regulatory and enforcement actions, including court decisions,</li>
<li>ASIC thematic reviews on various parts of the industry such as interest-only loans,</li>
<li>the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry,</li>
<li>Recent and upcoming initiatives such as comprehensive credit reporting and open banking, and </li>
<li>Changes in technology.</li>
</ul>
ASIC has also received anecdotal feedback that licensees may be applying the responsible lending obligations where the law does not require them to be applied (e.g. in small business lending). 
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ASIC consults on updating its responsible lending guidance

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Alueria, the Wahroonga home of architect Charles Bruce Dellit, acclaimed for his design of the Anzac Memorial in Hyde Park, has been listed for sale.
The 1920s home is an example of the Inter-War Mediterranean movement, one of the few remaining homes of its style on the upper North Shore.
Alueria, preserved with its Italian Renaissance-style intact, is up for sale for the first time in a quarter of a century. It last traded for $765,000 in 1993.
Set on a 1,855 sqm Fox Valley Road parcel, the double brick, five bedroom home with symmetrical facade is accessed through an entry comprising circular arches, tapered columns and a loggia.
<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/2019/2/15/Wahroonga2.jpg" alt="">
The formal living room with four metre high ceilings and rated timber detailing features three sets of French doors topped by semi-circular fanlights and a fireplace.
There's a fireplace in the formal dining room. Sandstone terraces overlook the swimming pool and half-size tennis court.
Downstairs there's a separate bedroom that was originally a maid's room.
Chadwick Real Estate agent Penelope Prior has the listing with around $3 million being sought.
Dellit would host soirees in the home's ball room, which is now the lower-level family entertaining area and library.
This article was first published in the Weekend Australian.
 
 
 
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Wahroonga trophy home Alueria listed

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Glenveagh, a mid-century modern Bendigo residence has been brought to market with an asking price of $1.15 to $1.25 million.
Ringed by trees, the self described "jewel of McIvor Hill", is said to be "offering one of the area's finest vantage points".
Situated at <a href="https://www.realestate.com.au/property-house-vic-bendigo-128214202" target="_blank">28-30 Doak Street</a>, the 1950s established home features views of both the surrounding gardens and city landscape beyond.
It is its stone chimney that evokes the MCM feel.
<img src="https://www.urban.com.au/images/2019/1/29/Glenveagh%202.JPG" alt="">
Set on 2513 square metres of manicured grounds the listing states that the updates to the home over the years have "remained sympathetic to the home's origins".
The four bedroom, three bathroom residence features a Roman bath styled in ground pool, as well as multiple paved courtyards and an open fireplace.
Located five minutes from the Bendigo CBD the purchaser of Glenveagh has first option to purchase the adjoining 1665 square metre title at $450,000.
<img src="https://www.urban.com.au/images/2019/1/29/Glenveagh%203.JPG" alt="">
The property is set on two separate titles.
It has remained on market for 279 days and was last sold in 1995 for $264,215.
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1950s Bendigo residence Glenveagh listed for sale

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GUEST OBSERVATION
The leaders of our banks and financial institutions are seen as the most self-serving in the nation, according to a national survey undertaken by researchers at Swinburne University of Technology.
More than a third (35.4%) of respondents believe banking and financial institutions show “no leadership for the greater good”. This score is slightly worse than public perceptions of the Federal Government, substantially worse than religious institutions and significantly worse than trade unions.
The results, from a nationally representative sample of 1,000 Australians, also repudiate the <a href="https://www.ausbanking.org.au/media/media-releases/media-release-2018/banks-making-progress-in-delivering-better-customer-outcomes" target="_blank">Australian Banking Association’s claim</a> a year ago that “Australians believe banks are heading in the right direction”.
And given this survey was done in December 2018, before the <a href="https://financialservices.royalcommission.gov.au/Pages/default.aspx" target="_blank">Banking Royal Commission</a> had completed its work exposing misconduct in the financial services sector, it’s likely a future poll will show even greater community distrust of bankers.
Transparency and accountability are crucial
Our findings come from the initial results of the Australian Leadership Index, a new quarterly survey from the Swinburne Business School that measures and tracks community perceptions and expectations of leadership for the greater good across 13 societal institutions.
The index won’t be officially published until later in the year. But given the important public discussion about corporate leadership in the wake of the <a href="https://treasury.gov.au/publication/p2019-fsrc-final-report/" target="_blank">final report</a> of the banking royal commission, we think it’s useful to share a snapshot of our findings.
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Consistent with other <a href="https://www2.deloitte.com/au/en/pages/financial-services/articles/deloitte-trust-index-banking-survey?utm_source=wp&amp;utm_medium=blog&amp;utm_campaign=fsi-deloitte-trust-index-2018&amp;utm_content=web" target="_blank">studies</a> that highlight the importance of transparency and accountability to perceptions of trust, our research confirms the importance of these attributes to perceptions of leadership for the public good.
From a community perspective, leadership for the greater good occurs when leaders demonstrate high ethical standards, when they demonstrate transparency and accountability for their positive and negative impacts, and when they seek to balance the interests of multiple stakeholders, including the wider community in which their institutions are nested.
So, leadership for the greater good is reflected in what value leaders create, how they create value, and for whom they create value.
Unhappily, banking leaders are found wanting on all counts.
The importance of how value is created
But other institutions are also found wanting, with our results revealing a generalised pessimism about Australian leadership.
Our survey results shed light on where the public think leaders are failing and what the community expects of leaders and their institutions to serve the greater good.
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Notably, creating economic value is not a highly regarded aspect of leadership for the greater good. This is not to say it is unimportant. But on its own it is insufficient.
What looms largest in the public mind when thinking about the greater good is the social value that institutions create, how ethically they create this value, and their transparency and accountability for positive and negative impacts.
Our research demonstrates that leadership for the greater good is as much about how leaders create value for their stakeholders — from their employees to their customers to society-at-large — as it is about what value they create and for whom they create value.
It’s not hugely complicated.
And yet, as revealed by the endless, unedifying parade of misconduct in government, business, religious, sporting and other civil society institutions, community standards and expectations are too often observed in the breach.
In the wake of the banking royal commission, the Australian community has a golden opportunity for a thoroughgoing discussion about the leadership we need to protect and enhance the public interest.
We hope the Australian Leadership Index will contribute to that discussion, by making all our data freely accessible through a new data visualisation platform. This will enable easy tracking of how institutions are performing according to public perceptions of their impact on the public good.
Wise leaders focus on the greater good. It behoves all leaders to create this new culture of public leadership.<img src="https://counter.theconversation.com/content/111346/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;">
Samuel Wilson, Senior Lecturer in Management, Swinburne University of Technology
Jason Pallant, Lecturer of Marketing, Swinburne University of Technology 
Timothy Colin Bednall, Senior Lecturer in Management, Fellow of the APS College of Organisational Psychologists, Swinburne University of Technology
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/one-third-of-australians-think-banks-do-nothing-for-the-greater-public-good-111346" target="_blank">original article</a>.
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One-third of Australians think banks do nothing for the greater public good

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Raine &amp; Horne has been appointed to market modern luxury apartments in WG Friendship Plaza, the tallest building on Fiji.
Aveet Goundar, at of Raine &amp; Horne Fiji, said WG Friendship Plaza, the contemporary luxury hotel, apartment, and commercial tower, is the first to combine residential and commercial functions.
“Merging residential and commercial space makes WG Friendship Plaza a milestone venture in Fiji in more ways than one,” Goundar commented.
The apartments will start from FJ$450,000 (A$298,000) for a studio unit to FJ$2.485 million (A$1.65 million) for a 226 square metre five-bedroom deluxe apartment.
 <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/2019/2/14/WG20Friendship20Plaza.20image202.jpg" alt="">
The tower offers a variety of uses. It includes a five-star hotel, international business offices, opulent apartments, high-end retail, restaurants, health and fitness studios, entertainment facilities, business conference rooms, and a full complement of hotel and residential amenities, including executive lounge and swimming pool.
<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/2019/2/14/WG20Friendship20Plaza.image201.jpg" alt="">
The Suva skyscraper has been developed by a private Chinese investor on Fiji’s south-east coast. 
“As the largest and most advanced foreign investment project in Fiji, WG Friendship Plaza is a solid representation of Fiji’s enormous potential and the strength of its international relations.”
Goundar expects the luxury apartments will appeal to local and foreign buyers.
Raine &amp; Horne aso has three offices in Fiji including Suva, Nadi and Lautoka. 
“Significantly, these apartments are on a strata title, and as the WG Friendship Plaza sits within the city boundaries of Suva, there are no restrictions on foreign investors to buy a slice of Fiji’s most prestigious and iconic tower,” he said. 
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Apartments in Fiji’s tallest skyscraper hit the market

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GUEST OBSERVATION
The largest desalination plant in Australia, Victoria’s A$3.5 billion ‘water factory’ can supply nearly a third of Melbourne’s needs. 
Removing salts and other impurities from water is really difficult. For thousands of years people, including <a href="http://classics.mit.edu/Aristotle/meteorology.2.ii" target="_blank">Aristotle</a>, tried to make fresh water from sea water. In the 21st century, advances in desalination technology mean water authorities in Australia and worldwide can supply bountiful fresh water at the flick of a switch.
<a href="https://theconversation.com/cape-town-is-almost-out-of-water-could-australian-cities-suffer-the-same-fate-90933" target="_blank">Achieving water security</a> using desalination is now a priority for the majority of Australia’s capital cities, all but one of which are on the coast. Using the abundance of sea water as a source, this approach seeks to “climate proof” our cities’ water supplies.
It’s hard to believe now that as recently as 2004 all Australian capital city water authorities relied on surface water storage dams or groundwater for drinking water supplies. Since Perth’s first desalination plant was completed in 2006, Australian <a href="https://en.wikipedia.org/wiki/List_of_desalination_plants_in_Australia" target="_blank">capital cities have embraced massive seawater desalination “water factories”</a> as a way to increase water security.
Perth and Adelaide have <a href="http://www.bom.gov.au/water/npr/docs/2016-17/national_performance_report_2016_17_urban_water_utilities_lowRes_update.pdf" target="_blank">relied most on desalination</a> to date. Canberra, Hobart and Darwin are the only capitals without desalination.
The drought that changed everything
From the late 1990s to 2009 southeastern Australia suffered through the <a href="http://www.bom.gov.au/climate/updates/articles/a010-southern-rainfall-decline.shtml" target="_blank">Millennium Drought</a>. This was a time of widespread water stress. It changed the Australian water industry for ever.
All major water authorities saw their water storages plummet. Melbourne storages <a href="http://www.waterstory.melbournewater.com.au/content/our-urban-water-story/millennium-drought-finally-ends" target="_blank">fell to as low as 25% in 2009</a>. The Gosford-Wyong water storage, supplying a fast-growing area of more than 300,000 people on the New South Wales Central Coast, <a href="/news">dropped to 10% capacity</a> in 2007.
These were familiar issues in locations such as Perth, where the big dry is epic. For more than four decades, the city’s residents have been watching their <a href="https://theconversation.com/is-perth-really-running-out-of-water-well-yes-and-no-90857" target="_blank">supply of surface water dwindle</a>. Remarkably, only about <a href="https://theconversation.com/is-perth-really-running-out-of-water-well-yes-and-no-90857" target="_blank">10% of Perth’s water now comes from this source</a>.
Perth’s two desalination plants have a <a href="https://www.water.vic.gov.au/water-grid-and-markets/victorian-desalination-project/desalination-background/desalination-history" target="_blank">combined output of up to 145 billion litres (gigalitres, GL) a year</a>. That’s nearly half the city’s water needs. <a href="https://www.watercorporation.com.au/water-supply/our-water-sources/desalination" target="_blank">Both have remained in operation</a> since they were built.
Modern industrial-scale desalination uses <a href="https://en.wikipedia.org/wiki/Reverse_osmosis" target="_blank">reverse osmosis</a> to remove salt and other impurities from sea water. Water is forced under high pressure through a series of membranes through which salt and other impurities cannot pass.
Design, construction and maintenance costs of these industrial plants are high. They also <a href="http://www.awa.asn.au/AWA_MBRR/Publications/Fact_Sheets/Desalination_Fact_Sheet.aspx" target="_blank">use massive amounts of electricity</a>, which increases greenhouse gas emissions unless renewable energy sources are used.
Another concern is the return of the excess salt to the environment. Australian <a href="https://www.sciencedirect.com/science/article/abs/pii/S0043135418307012" target="_blank">studies have shown minimal impact</a>.
Just as many of the massive new desalination factories were completed, and proudly opened by smiling politicians, it started raining. The <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2012-06-26/sydney-desalination-plant-to-switch-off/4092482" target="_blank">desalination plants were switched off as storages filled</a>. However, water consumers still had to pay for the dormant plants to be maintained – hundreds of millions of dollars a year in the case of the <a href="https://www.dailymail.co.uk/news/article-5749621/Melbourne-desalination-plant-costs-tax-payers-eye-watering-649-million-year-operate" target="_blank">Melbourne</a> and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-09-27/nsw-desalination-plant-deal-costing-customers-%2410-billion/4985168" target="_blank">Sydney</a> plants.
Bringing plants out of mothballs
Now drought has returned to southeast Australia. Once again, <a href="http://www.bom.gov.au/water/dashboards/#/water-storages/summary/state" target="_blank">many capital city water storages are in steep decline</a>. So what is the response of water authorities in the desal age? Not surprisingly, <a href="https://www.desalination.biz/news/0/Australias-demand-for-desalination-jumps-amid-drought/9090/" target="_blank">more desalination is their answer</a>.
One by one the desalination plants are being switched back on. Sydney has just <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-01-27/sydney-desalination-plant-turned-on-so-how-does-it-work/10753334" target="_blank">begun the process of restarting its plant</a>, which was commissioned in 2010. Adelaide has plans to <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-12-14/adelaide-desal-plant-revival-plan-to-ease-use-of-murray-water/10619960">greatly increase the modest output</a> from its plant this year. The Gold Coast plant, which can also supply Brisbane, is <a href="https://www.seqwater.com.au/s3fs-public/PDF%20Documents/Publications/2017%20A4%20Fact%20sheet%20Gold%20Coast%20Desalination%20Plant%20FINAL.pdf" target="_blank">operating at a low level in “hot standby” mode</a>.
After a dry winter, Melbourne Water has advised the Victorian government to make the <a href="https://www.theage.com.au/national/victoria/proposed-record-desal-order-to-put-pressure-on-water-bills-20180813-p4zx9e" target="_blank">largest orders for desalinated water</a> since its plant, able to produce 150GL a year, was completed in December 2012. Mothballed for more than four years, it <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-03-19/victoria-desalination-plant-finally-delivers-water/8367554" target="_blank">supplied its first water</a> to reservoirs in March 2017. The recommended annual order of 100GL from April this year is almost one-quarter of Melbourne’s annual demand. Plant capacity is <a href="https://www.aquasure.com.au/desalination-plant" target="_blank">capable of being expanded to 200GL a year</a>.
When bushfires recently threatened Victoria’s largest water storage, the Thomson dam, the government said desalinated water could be used to <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-02-01/thomson-dam-fire-threaten-melbourne-water-supply-desalination/10770718" target="_blank">replace the 150GL a year taken from the dam</a>.
Sydney’s plan for future droughts is to <a href="https://www.planning.nsw.gov.au/-/media/Files/DPE/Other/About-us/Metropolitan-Water/2017-Metropolitan-Water-Plan.pdf" target="_blank">double the output of its desalination plant from 250 million litres (megalitres, ML) a day to 500ML a day</a>. This would take its contribution from 15% to 30% of Sydney’s water demand.
Perth, Adelaide, Melbourne, Brisbane and the Gold Coast already have the capacity to supply larger proportions of their populations with desalinised water as required.
What about inland and regional settlements across Australia? Large-scale desalination plants may not viable for Canberra and other inland centres. These regions would require sufficient groundwater resources and extraction may not be environmentally sound.
How much, then, do we pay for the water we use?
The plants supplying our biggest cities <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-09-27/nsw-desalination-plant-deal-costing-customers-%2410-billion/4985168" target="_blank">cost billions to construct and maintain, even when they sit idle for years</a>.
The Australian Water Association estimates the <a href="http://www.awa.asn.au/AWA_MBRR/Publications/Fact_Sheets/Desalination_Fact_Sheet.aspx" target="_blank">cost of supplying desalinated water varies widely, from $1 to $4 per kL</a>.
In fact, water costs in general vary enormously, depending on location and how much is used. The pricing structures are about as complex as mobile phone plans or health insurance policies.
The highest price is in Canberra where residents pay <a href="https://www.iconwater.com.au/about/our-pricing.aspx" target="_blank">$4.88/kL</a> for each kL they use over 50kL per quarter. The cheapest rate is Hobart’s <a href="https://www.taswater.com.au/Your-Account/Water-and-Sewerage-Charges" target="_blank">$1.06/kL</a>.
The issue of water pricing leads on to the question of what happened to the alternative strategies – recycling and demand management – that cities pursued before desalination became the favoured approach? And how do these compare to the expensive, energy-hungry process of desalination? We will consider these questions in our second article.<img src="https://counter.theconversation.com/content/110972/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;">
Ian Wright, Senior Lecturer in Environmental Science, Western Sydney University
Jason Reynolds, Research Lecturer in Geochemistry, Western Sydney 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/cities-turn-to-desalination-for-water-security-but-at-what-cost-110972" target="_blank">original article</a>.
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Cities turn to desalination for water security, but at what cost?

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Goodman Group delivered an operating profit of $465 million for the half year ended 31 December 2018, up 10.4% on 1H FY18.
Its statutory profit was $929.2 million.
The group has upgraded its forecast FY19 EPS to 51.1 cents per share, up 9.5% on FY18, maintaining its forecast full year distribution of 30.0 cents per security, up 7% on FY18.
Group Chief Executive Officer, Greg Goodman said the results reflect continued strong performance across the management and development businesses.
"Our deliberate focus on infill markets, where property fundamentals are robust, has driven partnership returns and significant growth in assets under management which are up 24% to $43 billion," Goodman said. 
Goodman noted structural changes driving customers’ businesses have fuelled the continued evolution of the industrial property sector.
"Supply chain efficiency is critical for our customers’ success, with increased importance placed on the location and role of logistics and warehousing space," he said. 
"This trend has resulted in significant valuation gains of $2.4 billion over the half for the group and partnerships, like-for-like growth in net property income of 3.2% and a robust development workbook of $3.6 billion, expected to exceed $4 billion in the near term."
<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/2019/2/14/goodman%201.jpg" alt="">
 
Source: Goodman Group
Valuation increases and development completions saw a valuation uplift of $2.4 billion across the group and partnerships.
The results continued strength in property fundamentals resulting in occupancy at 98%, weighted average lease expiry (WALE) of 4.7 years and like-for-like net property income growth of 3.2%.
Its development work in progress (WIP) was steady at $3.6 billion across 68 projects in 12 countries with a forecast yield on cost of 7.1%.
The management earnings were up 15% on 1H FY18 with average Partnership returns expected to be in the mid-teens for FY19.
<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/2019/2/14/goodman%202.jpg" alt="">
Souce: Goodman Group
The concentration of its portfolio in key urban centres saw increased customer demand over the half, driving occupancy, rental growth and valuations. Coupled with continued supply constraints in Goodman’s markets, competition for sites and resulting increased intensity of use, property fundamentals are expected to remain robust.
Commenting on the outlook for the Group, Greg Goodman said their customers’ industries continued to experience considerable change which is driving opportunity.
"Most industries including e-commerce, traditional retail and third-party logistics, are re-evaluating supply chains, which is driving the evolution of the industrial property sector," he said. 
"Our strategic focus on infill markets is being met with strong customer demand which is generating long-term value. Barriers to entry remain high in our markets, but we have the management and infrastructure built over decades to facilitate the demand from our customers.
"Market conditions remain robust with the shift towards increased automation, consumerism and heightened service expectations. Consequently, we are experiencing high levels of profitability supported by these ongoing structural changes.
"We believe the opportunity to deploy capital at an attractive return is growing.
"As a result, FY19 EPS guidance is being increased to 51.1 cents per share, (up 9.5% on FY18) and FY19 DPS will be up 7% to 30 cents per security.”
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Goodman Group increases growth forecast to 9.5%

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The final site at the Gore Hill estate on Sydney’s Lower North Shore has been announced to the market.
It is being offered by Knight Frank’s Matthew Lee and Arland Domingo, in conjunction with GJS Property’s Chris Bailey, on behalf of Lindsay Bennelong Developments. 
Located at Lot 3 Broadcast Way in Gore Hill, the 3,840 square metre site has DA approval for a 13,998 square metre fully designed and engineered data centre facility. 
Upon completion the fully engineered data centre is tipped to sell for circa $100 million or lease on market terms. 
According to Knight Frank’s Matthew Lee, Partner, Head of Industrial, NSW Lot 3 Broadcast Way is the last piece of the Gore Hill estate available and represents a rare opportunity to acquire or lease a completed, engineered data centre. 
"Following expansive take up across the colocation and wholesale markets we have seen a surge in demand for data centres from both owner operators and providers," Lee said. 
"Recognising this demand, Lindsay Bennelong Developments acquired approval for a four-level data centre with market leading power, fibre and connectivity suitable for a variety of uses. Construction will commence in the coming months with a delivery in 2020. 
“As the only new dedicated commercial precinct on the Lower North Shore capable of delivering a data centre so close to North Sydney and the Sydney CBD we expect it will attract strong interest from owner-occupiers and tenants.”
Sydney’s combination of a unique geographic situation and mature economy are the driving forces behind a growing data centre market, according to Jabez Tan, Head of Research, Data Centres at Structure Research.
“Similar to other mature markets in the Asia-pacific region, Sydney is a magnet for hyperscale cloud and this is even more crucial for Australia from a latency and performance standpoint given its geographic isolation from the rest of Asia," said Tan. 
“Getting closer to end users and an increasingly strict data sovereignty regime makes in-country infrastructure a must-have. This should keep data centre demand in Sydney steady with all of the larger technology uptake indicators healthy.
“Sydney continues to be the primary gateway location for international firms to access the Australian market from a connectivity standpoint and for Australian enterprises to access international markets. Growing usage in social media platforms, content and streaming, online gaming and mobile apps is expected to translate into increased demand for data centre capacity.”
Chris Bailey, Director at GJS Property, said the area was already home to Fox Sports, ASX Data Centre and Chief Entertainment. 
"The Gore Hill estate is ideally located within close proximity to Pacific Highway with extensive current and future public transport links,” said Bailey.
“Following the successful sale of Lot 6 last year by GJS and Knight Frank we are excited to bring Lot 3 to market in what is an exceptionally rare offering. This site will be able to deliver a ‘live’ data centre in 18 months so for providers that cannot accommodate the current demand Lot 3 could be their perfect solution to capture the market.”<s></s>
The Department of Planning and Environment recently unveiled a 20-year plan for the region, which includes a new metro station for Crows Nest as part of the $20 billion Sydney Metro. This vision will create a major employment and housing hub on Sydney’s Lower North Shore, running from Macquarie Park to the Sydney CBD. 
Gore Hill is within easy access to Sydney’s domestic and international airports, and is within close proximity to the Gore Hill Freeway which links the M2, M7 and M5 motorways. The site is two kilometres from the new Crows Nest train station being developed, and an eight minutes’ walk from the existing St Leonards train station.
Lot 3 Broadcast Way, Artarmon, is for sale or lease via expressions of interest closing 4pm ESST, Thursday 21 March 2019.
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Last site at Gore Hill industrial estate announced to the market

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]

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