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To paraphrase former prime minister Paul Keating, walk into <a href="https://www.smh.com.au/politics/federal/plenty-of-bark-any-bite-20101028-175mv" target="_blank">any pet shop in the country</a> and you’ll find the resident galah saying we should swap stamp duty for a land value tax.
Just about every economic think tank in the land thinks it’s about the best value tax change there is, among them the <a href="https://theconversation.com/abolish-stamp-duty-the-act-shows-the-rest-of-us-how-to-tax-property-105378" target="_blank">Grattan Institute</a>, <a href="https://percapita.org.au/our_media/replacing-stamp-duty-with-broad-based-land-tax-could-increase-revenue-to-11-2-billion-by-2047-new-report-shows/" target="_blank">Per Capita</a>, the <a href="http://www.tai.org.au/sites/defualt/files/P149_Tax%20the%20need%20for%20change.pdf" target="_blank">Australia Institute</a>, and the <a href="https://www.cis.org.au/commentary/articles/dominic-perrottets-reforms-are-welcome-but-the-government-must-break-its-addiction-to-this-bad-tax/" target="_blank">Centre for Independent Studies</a> as well as <a href="https://www.thepolicyspace.com.au/2015/25/58-five-ways-to-reform-state-taxes" target="_blank">a swag of academics</a>, the Treasury in its work on the <a href="http://bettertax.gov.au/files/2015/03/08_GST-and-State-Taxes.pdf" target="_blank">draft white paper for tax reform</a> and the <a href="http://taxreview.treasury.gov.au/content/FinalReport.aspx?doc=html/publications/Papers/Final_Report_Part_2/chapter_g2-2.htm" target="_blank">Henry Tax Review</a>.
Among the benefits of what I will call SD4LVT are said to be greater ease in upsizing and downsizing, a more mobile population (less reluctant to buy and sell houses) and a more reliable source of revenue for state governments.
One state, the Australian Capital Territory, has already begun a <a href="https://www.revenue.act.gov.au/tax-reform" target="_blank">20-year</a> phase out of stamp duty and a 20-year build up of land tax.
But beneath the near universal enthusiasm for SD4LVT are layers of bad economics.
It is extremely frustrating to me that the leading minds in Australian policy have put their heads together and decided that the best reform they can think of is to replace a good tax on property with another good one that would be even less popular.
The more thoughtful among them don’t even bother to claim that SD4LVT will make housing more affordable, yet still put it forward as the “holy grail” of tax reform.
It is bad economics because of four key points its proponents miss or overlook.
<h2>Price effects</h2>
Stamp duty comes out of what the buyer is prepared to pay. This means that if you remove it, all other things equal, prices will rise by exactly the amount of the duty removed.
If the average home price is A$500,000, and buyers pay a 5% stamp duty, taking the total to A$525,000, then when stamp duty is removed the price will immediately increase to $525,000 being what the buyer was prepared to pay.
If you replace the stamp duty revenue with revenue from land value taxes, the effects on price are less clear. The change could push them up (enriching sellers) or it could push them down.
Imagine an example economy with:
<ul>
<li>20 houses</li>
<li>Turnover of one house each year (a turnover rate of 5%)</li>
<li>An average home price of A$500,000</li>
<li>Total stamp duty revenue of A$25,000 per year</li>
</ul>
Replacing the A$25,000 stamp duty revenue with a land value tax requires taxing all 20 homes at A$1,250 per year each.
Whether the market price of homes rises or falls depends on whether buyers think the cost to them of A$1,250 per year is lower or higher than the A$25,000 upfront stamp duty they avoided. If they thought it was about the same, SD4LVT wouldn’t much affect prices.
But what if turnover was half that, say 2.5%, which in this example would be where one house was sold every two years? In that case, the total stamp duty to be replaced would be A$12,500, which would be only A$625 per house in land tax.
The new buyer could pay A$512,500 for the house plus A$625 per year in land tax and be equally as well off as paying A$500,000 for the house plus A$25,000 in stamp duty.
The net effect would be a 5% price increase from A$250,000 to A$262,500.
If that happened nationally it would mean a transfer of almost A$200 billion to existing owners.
Whether or not that did happen would depend on the turnover and buyer’s views about the future value of money. In short, the price effects of a SD4LVT are ambiguous.
<h2>Mobility</h2>
While it is said that stamp duties deter Australians from changing addresses and switching jobs, there is little evidence that they are not changing enough.
Most people who relocate for work <a href="https://www.rba.gov.au/publications/bulletin/2017/mar/pdf/bu-0317-3-housing-market-turnover.pdf" target="_blank">don’t buy and sell homes in order to do it</a>.
They rent first, becoming both a renter and a landlord for a while, perhaps selling their first home later, but not quickly.
When they do sell, often for a healthy profit, stamp duty ensures they pocket less than would have, grabbing back some of what might otherwise be an untaxed capital gain.
Lower housing turnover from stamp duties mainly falls on the nearly half of sales involving investors who buy speculatively to capitalise on short bursts of capital growth before selling, in the process fuelling the boom and bust price cycle.
To me, anything that slows down real estate turnover and captures capital gains seems like a good idea.
<h2>Revenue stability</h2>
It is claimed that stamp duty revenues are much more volatile than other taxes. During a boom, they climb more than proportionally to prices since they also depend on turnover. During a bust, they fall more quickly than prices.
If I was to think in the abstract about what sort of taxes are good for the economy, I would say it is those that are pro-cyclical, meaning they automatically increase takings during a boom, and wind them back during a bust.
On this measure, stamp duty is a good tax for stabilising the economy, something important given how much our economic cycles are tied to housing markets.
The land value tax that SD4LVT proponents would replace stamp duty with would make the tax system as a whole less stabilising.
<h2>Odd modelling</h2>
You might have seen a chart like the Treasury graph below, with stamp duties presented as having enormous flow-on economy-wide costs compared to other taxes. In this example, land tax which is presented as having an economic benefit.
<hr>
<iframe src="https://datawrapper.dwcdn.net/i78qD/3/" frameborder="0" scrolling="no" width="100%" height="400"></iframe>
<hr>
The problem with the graph is that modelling used to prepare it (computational general equilibrium modelling) can’t directly account for transaction taxes because it doesn’t model transactions.
Instead of using a better tool for the job, the modellers assume that stamp duties increase cost of housing to all buyers and renters. It’s this assumption that drives a conclusion they describe as merely “<a href="http://www.policypartners.com.au/assets/treasury---economic-incidence-of-taxes-(2015).pdf">illustrative</a>”.
<h2>To sum up</h2>
Stamp duties don’t push up the cost of housing. The claim that they impede household mobility is overblown. They do reduce asset churn, and as a result they help maintain price stability.
Their “revenue instability” is actually a huge positive for the economy as a whole. And the modelling that has underpinned the talk of high economy-wide costs is as good as made up.
Yet SD4LVT remains the apparent holy grail of Australian tax policy.
Our best policy wonks continue to push our politicians to use up the precious capital to swap one very good property tax for another, for no obvious economic gain.<img src="https://counter.theconversation.com/content/106841/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;">
<a href="https://theconversation.com/profiles/cameron-murray-172480" target="_blank">Cameron Murray</a>, Lecturer in Economics, <a href="http://theconversation.com/institutions/the-university-of-queensland-805" target="_blank">The University of Queensland</a>.
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/stamp-duty-fever-the-bad-economics-behind-swapping-stamp-duty-for-land-tax-106841" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Swapping stamp duty for land tax is bad economics: Cameron Murray

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More than half of corporate occupiers across Australia and New Zealand plan to reduce their footprint of traditional leased office space in the next two years, as their portfolios shift towards flexible workspace solutions. 
This was a key outtake from CBRE’s Pacific Corporate Coworking Survey: The Future is Flexible report, which surveyed 60 large occupiers across Australia and New Zealand on their current and future planned use of third-party flexible space, with a focus on coworking and meeting and event spaces. 
In Australia, the flexible workspace industry occupies circa 193,200 square metres of space across the six major capital cities, with 40% of occupiers currently utilising some form of flexible workspace solution.
Australia currently has the seventh largest presence of coworking operators globally at 253 operators, while New Zealand comes in 35th with 62 listed operators. The APAC region is mooted for rapid growth in the coworking space over the next five years, with China to becoming the largest market by 2022. 
In the next two years, a noteworthy 58% of Australian corporate occupiers plan to reduce their traditional leased office footprint space and 55% are looking to increase coworking space use, compared to only 28% of companies that have no plans to adopt flexible workspace solutions across their portfolio. 
CBRE Head of Office and Occupier Research, Felice Spark, said the uptake of flexible space would only accelerate as more corporates capitalised on the opportunity to have greater workplace flexibility. 
“Flexible space is no longer viewed as being the exclusive domain of entrepreneurial, start-up companies. It’s apparent through the survey that many corporations are seeking to decrease their exposure to long term leases,” Spark said. 
“This doesn’t imply that occupiers are looking to reduce their total office footprint, as 55% have said they intend to increase their use of coworking space in the future and 40% intend to increase their use of meeting/event space.”
Despite the growing demand for flexible solutions, only 32% of occupiers in Australia would choose to locate in a building with a coworking operator, highlighting existing concerns occupiers have around building tenant profile, lease covenants and a lack of experience co-locating with coworking operators. 
Meanwhile, demand for meeting and event function space is high. 89% of Australian occupiers expressed they would choose to occupy a building that offered these facilities versus one that didn’t. 
“This was particularly prevalent for the medium and smaller portfolio corporate respondents who expected to increase their use of meeting/event space more than larger occupiers in the next two years,” Spark said. 
“Greater scrutiny is being placed on portfolio and cost optimisation along with space utilisation. The need for multiple, superfluous meeting rooms and big boardrooms that may not be used on a regular basis is being questioned. Additionally, these occupiers value the benefits of a premium concierge service to assist in coordinating and/or hosting events and functions.” 
<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/2018/11/6/workspace%201.jpg" alt=""> 
Source: CBRE Research
The survey also revealed that the motivation to use coworking space varied between industries. 
For example, Finance &amp; Insurance companies valued portfolio flexibility as a key reason for using coworking but gave access to a collaborative environment a lower score. Comparatively, Public Sector occupiers placed higher emphasis on the ability to access a collaborative environment and less so on meeting and event space. Technology companies, which were unsurprisingly found to be the highest users of flexible space, were motivated by the ability to adapt to changes in business processes. 
Nicole Fitzgerald, CBRE National Director of Workplace Strategy, said the survey findings highlighted that there was key opportunity in the market for operators and landlords to provide greater diversification in the coworking space offering to meet the different needs and preferences of industry groups.
“Today, coworking in Australia has a brand problem for large corporates. It is too strongly associated with a traditional start-up setup with bean bags and ping pong tables. Larger corporates want the flexibility but need a more sophisticated and brand aligned experience in an environment that enables and supports fast paced innovation and positive disruption,” Fitzgerald said. 
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/6/workspace%202.jpg" alt="">
Source: CBRE Research
Notably, the survey found 44% of occupiers think landlords are not adapting to meet occupiers’ changing space requirements and 17% believe landlords are responding verypoorly.  
“Technology has revolutionised working methods and has aided the progress of an increasingly itinerant working style,” Fitzgerald said.
“For landlords, the opportunity exists to adapt their existing office product to meeting the evolving needs of their tenants. Flexible workspaces are becoming the point of reference for companies reassessing their commercial real estate requirements, and landlords need to understand this and adapt accordingly or risk being left behind.”  
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The future is flexible for Australian corporate occupiers

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Newcastle is attracting Sydneysiders with the lure of more affordable housing and lifestyle benefits, says Colliers International.
The city has around $1.2 billion of government investment projects in the pipeline, including the completed State Law Courts, NewSpace City Campus, transport interchange, light rail construction and the approved International Cruise Ship Terminal.
George Wragge, Director of Retail at Colliers International, said that the uptick in demand can be seen in the approximately $220 million worth of apartment developments that have been completed, with another $326 million under construction.
“People have moved north chasing affordability whilst seeking a different level of lifestyle and amenity,” Wragge said.
“This recent interest has come from a realization that Newcastle is incredibly accessible to Sydney however also offers attractions such as the Hunter Valley, Port Stephens and some of the nation’s best beaches.
“A major, boutique retail precinct is truly all that is missing in this unique seaside City.”
He is hoping this missing piece will be the East End residential and retail development, which is now under construction.
“The new East End Woolworths Metro store is now committed which will cater to the needs of office workers, shoppers, tourists and residents in the Newcastle CBD and will be the catalyst to curating a gentrified urban mix of food and beverage operators, service and convenience-based retailers.”
“Newcastle is no longer a hidden gem but is now exposed to major Sydney based retailers, with more premium restauranteurs and bespoke fashion stores expected to make the move North.”
Michael Chapman, Senior Executive at Colliers International, says that the demographic shifts in the area, plus the recent announcement of international flights out of Newcastle Airport, will bring more people to the city.
“With an increase in jobs of 8.1% predicted by 2020 and a rise in population of 33.4% predicted by 2036, Newcastle may have only just embarked on a journey of growth it hasn’t and may not ever experience again” said Chapman. 
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Boom in Newcastle residential construction to be complemented by new retail centre

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Australia has one of the highest rates of pet ownership in the world, however only one in 20 rental properties in New South Wales are currently being advertised as pet friendly, according to research from Rent.com.au.
Their survey of 70,000 rental properties and 100,000 pet resumes has found only five percent in NSW explicitly allow pets, despite over 60 percent of Australian households having pets.
Rent.com.au chief executive Greg Bader says it's a disappointing result.
“As a general rule, rental properties are not pet friendly, which is interesting as research consistently shows that the value of having pets is huge.
“With so many of us generally owning pets, it’s a real equity issue.”
Investors renting out their properties have long been on the cautious side when advertising the property as pet friendly, however aren't necessarily against pet ownership in their home.
The survey found that while only five percent of rental homes in NSW were advertised as pet-friendly, and 53 per cent banned pets, 43 per cent make no mention of pets.
 
A renting couple in Redfern secured the lease for a house without a pet, however noticed a dog flap leading from the kitchen into the outdoor courtyard.
They wrote to their property manager about enquiring whether they could get a pet dog, who passed it on to the property owner.
They said no problem within minutes of the e-mail being sent, despite the listing specifically stating no pets.
The Redfern/Chippendale and Potts Point/Woolloomooloo areas are dominated by renters, each with 65 percent of the population renting there, according to the Committee for Sydney.
One Potts Point renter who lives in a pet-friendly apartment with his two cavoodles says it’s appalling that so few are allowed to keep animals.
“I’m a renter with pets and a real estate agent as well, and it’s interesting as I feel that children do more damage to rental properties than pets do,” says James Garwood, 32, one of the directors of Garwoods Estate Agents.
“We see so many pictures drawn on walls and scuffed and worn-out finishes.
“But the behaviour of pets come down to their owners, and we recommend that property owners do allow pets where possible, particularly as they’ll get a higher rent of 5 to 10 per cent more. We had one renter with a dog spending $1200 a week on a pet-friendly, two-bedroom unit when he could have easily spent $760 on a unit just for himself.”
 
<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/2018/11/7/PETS.jpg" alt=""> 
Rent.com.au's Greg Bader says that there is the chance of discussing the lease terms as the heat comes out of the market and the level of competition for properties fall.
Pet-owning tenants in NSW aren’t quite as hard done by as those in Victoria, however, where only two percent of properties were advertised as pet friendly, but are eclipsed by the national average figure of 10 per cent indicating pets are allowed.
The Victorian government recently introduced changes to tenancy laws that are expected to allow pets automatically in rentals except in exceptional circumstances.
Vet Mark Perissinotto, managing director of VetShopAustralia, says landlords should think about how their property could be suitable for different types, breeds and sizes of pets.
“We’d advise them to consider providing guidance to would-be tenants on what the property can and cannot support,” Dr Perissinotto says. “It’s about understanding the size of the property, its locality to parks and other areas a pet can run free.”
From a real estate perspective, Mr Garwood, who lives with Poppi and Chelsea in his apartment, believes NSW property owners should be allowed to levy a pet bond – as operates in some other states – to reassure themselves about any damage that could be caused.
“But a lot of pets come these days with great references and their past history recorded, and their owners often have very strong rental applications,” he says. “They can make excellent tenants.”
 
 
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One in 20 NSW rental properties advertised as pet friendly

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<div>
A tightly held property that fronts Sydney Harbour is on the market for the first time in 80 years.
It is being marketed by Ray White Crows Nest and Lower North Shore sales agent Chris Keane as “the most secluded property on Sydney Harbour”.
The heritage listed three bedroom house at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGYOibd6Xun2zx4tHhzJlIDs8CmWXJrUBOBNnPZiwsatQ=&amp;rh=ff004334d3569497d72c695cef41a2b0debde6d7" target="_blank">233 and 233a Edinburgh Road, Castlecrag</a> was built in 1912 out of Canadian redwood.
The north-east facing, 6500 square metre property is predominantly bushland on the edge of the harbour in Sugarloaf Bay.
<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/2018/11/12/5.%20Living%20Room.jpg" alt="" style="font-size: 12.16px;">
Vendors Terry Hey of Carlingford and his sister have decided to sell the family property.
“It would have to be the most photographed property in Middle Harbour as every boat that comes past here stops to take a photo. It’s such a great location and it’s a once in a lifetime opportunity for a lucky buyer,” Hey said.
“Our father (Alfred) bought the property at age 24 years old in 1938 and he moved back into it in the 1970s and lived there for many years before he passed away at the of age 99 years.”
“The tidal pool is adjacent with the heritage listed house and while you cannot own the tidal pool the rates with Maritime are very reasonable.
“There is nothing like this in Sydney Harbour for its bushland and isolation.
“The property has been in the family since the 1930s and in the last 40 years I have been looking after the place but it’s time for us to move on.”
<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/2018/11/12/RS18330_DJI_0009.jpg" alt="">
Keane said it was a unique opportunity for buyers.
“This property and land with both lots, totals more than 6500 square metres (approx) which is a rare commodity in Sydney and Australia for that matter with the Australian Bureau of Statistics estimating an average Aussie block size of 474 square metres,” Keane said.
“It has been in the same family for over 80 years and is one of only three homes that were positioned down on the water overlooking Sugerloaf Bay.”
“This is the only one of the three that remains privately owned. The other two properties are owned and rented out by council. This is literally a once in a lifetime opportunity said.”
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Home on Sydney Harbour listed for first time in 80 years

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The socialite mortgage broking director Lizzie Buttrose - who sold her ranch-style Vaucluse abode last last year - has settled on a Port Douglas district home.
She bought well, paying $902,000 for an acreage with a four bedroom contemporary Queenslander that sold at $1.1 million in 2009 and at $900,500 back in 2004. 
It was a mortgagee sale.
It comes with horse paddocks and is close to the coast, just off the Captain Cook Highway to Oak Beach.
She pocketed $4.03 million for her four-bedroom Hopetoun Mews house on an 873 square metre battle-axe Burrabirra Ave block which was marketed as “the perfect opportunity for reinvention”.
This article was first published in The Sunday Telegraph.
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Lizzie Buttrose settles on Port Douglas home

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GUEST OBSERVATION
Getting aged care right is difficult. It involves staff training, qualifications and ratios, the entry of for-profit providers and ensuring access in regional areas – many of the issues highlighted in this year’s two-part Four Corners special.
A key challenge, from which must of the rest will flow, is increased funding.
Medicare – an Australian success story – provides one model.
Even the Medicare name works magic. The Medicare levy has been appropriated and boosted in order to brand and part-fund the National Disability Insurance Scheme.
We could do a Medicare
Medicare takes its features from both the public and the private sector. It is framed as an insurance levy, but unlike most insurance levies, it is linked to income. This means it reflects ability to pay rather than the likelihood of getting sick. As a result, it is affordable for everyone.
There have been many proposals to do something similar with aged care.
To date policymakers have instead opted for another common Australian funding model – combining user payments with a safety net of public funding for those without means or facing high costs.
The Productivity Commission has consistently plumped for this model over a more universal funding system, although there is little evidence that user fees are effective as a funding source.
So why not introduce an aged care levy on income?
But would that be right for aged care?
Oddly, the main argument against an income-based levy revolves around equity. Older people are income-poor but asset-rich. An income levy would set them back little even though they have been the primary beneficiaries of the enormous increase in house prices.
It would be paid instead by younger workers who are often facing insecure work, stagnant wages and expensive housing.
It’s a reasonable objection, and it drives much of the Productivity Commission’s thinking. The commission has focused instead on helping older people draw down their housing wealth to fund aged care payments.
But this too has problems. It can discourage preventive forms of care and it requires vulnerable people entering care to make complex financial decisions.
Tapping superannuation might be better
A third way, suggested by aged care expert Anna Howe, is to use superannuation.
After all, super is supposed to fund our post-work life, and aged care is a big part of that.
Despite more than $2.5 trillion being amassed in super, it does a poor job of providing either income security or security of care for older people. These responsibilities continue to fall on government.
Income within super is taxed unfairly
Super is also taxed very differently to other income. The rest of the income tax system is progressive, so those with higher incomes pay higher rates of tax. Income within super funds faces a flat tax.
For most people that matters little, but it creates enormous gains for those on very high incomes, which are made even bigger when they direct what extra income they can to super.
The flat tax on super earnings costs the budget A$23.25 billion per year. The Treasury says that’s set to climb to A$28.95 billion in 2020-21, a growth rate that dwarfs the projected growth in the cost of the pension.
Efforts to curb the cost to the budget of super tax concessions have largely focused on limiting how much extra cash we put into it.
But most of the cost comes from the income earned by money already in super.
Taxing it better could fund aged care
A Medicare-style insurance levy applied to the income earned by money within super would in principle be no different to the insurance premiums already taken from super accounts.
And it wouldn’t be paid by the young while they are young. Given that younger workers can’t access super until retirement, it would effectively be a levy on their future super wealth.
And because older people have larger super accounts than younger people earning more income to be taxed, the levy would fall far more heavily on baby boomers than younger generations.
And address gender equity
This approach would also address another important justice question – gender equity. Men have much more super than women.
That partly reflects the gender pay gap, but also the unpaid work gap, in which women typically spend more of their working lives than men out of paid work caring for family members.
Ironically, it is women who then rely more heavily on paid care in older age, largely because they outlive their partners. Women provide men’s care for free, but then pay for their own.
A levy on (mainly) men’s super would help even the books.
But the details would matter
A fair way to do it would be to apply the levy to super fund income only when it climbed to a threshold of (say) A$5,000 a year. That way it would protect small accounts while helping close the tax loophole enjoyed by those on the highest incomes.
All of us have an interest in properly funded aged care. More properly taxing super fund income would be one way to do it.<img src="https://counter.theconversation.com/content/103767/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;">
Ben Spies-Butcher, Senior Lecturer in Economy and Society, Department of Sociology, Macquarie 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/two-birds-with-one-stone-how-better-taxing-super-could-fund-aged-care-103767" target="_blank">original article</a>.
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How better taxing super could fund aged care: Ben Spies-Butcher

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The educational rural property Benalla Farm is set to go under the hammer.
The property is being sold by community and disabled services organisation Yooralla, who are moving to the Benalla Community Hub on Mansfield Road.
The 167 Sydney Road property includes a machinery shed of 580 square metres on the ground floor and with a further 145 metres as a mezzanine level, an outdoor amenities block with toilet, stock shed, outdoor classroom, a 280 square metre hay shed, and a 65 square metre storage shelter and storeroom with a with a wood fired pizza oven.
Michael Everard of Elders Real Estate Wangaratta will sell the property at an onsite public auction on Saturday 8 December at 11 am.
“Yooralla’s Benalla Farm is a special type of property that you don’t see on the market very often,” he said.
“It was acquired in 2011 and has been used for activities and training for people with disabilities and used by other community organisations including the Regent Honeyeaters Association, EdSpace, the local Woodworkers Association.
“Foremost amongst the improvements are the buildings which are four steel framed and clad structures each built to meet a defined purpose together with all the usual services.”
The property has a dam, a wetlands area, while two orchard plantings, including a two-hectare block of pistachio nuts and about 200 olive trees.
The property is held under a Special Use zoning, but our enquiries indicate the local Council will consider a range of future uses for this holding which is on the edge of an expanding commercial activity zone.
 “I think there is a real opportunity here with the existing buildings and infrastructure suited to a multiplicity of uses and the property may also appeal to a hobby farmer, social or other community or education or provider,” said Everard.
“Yooralla established their Benalla Farm to achieve a broad range of employment, skills training, recreation and group activities and to encourage users to connect with nature, to meet other people and to participate in the local community.
“I am reluctant to put a price expectation on the likely auction outcome except to say that Yooralla is ready to relinquish their ownership as they bring services together at the Community Hub site on the Mansfield Road Benalla.
“I welcome inspections as I am sure there is a buyer, perhaps a hobby farmer, a business operator, or education or community group who will immediately recognise the capital that has been invested here together with the ideal main road location and land size.”
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Yooralla's Benalla Farm set to go under the hammer

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GUEST OBSERVATION
Transport, mobility and congestion continue to be <a href="https://theconversation.com/our-new-pm-wants-to-bust-congestion-here-are-four-ways-he-could-do-that-102249" target="_blank">hotly debated topics</a> in politics, the media, academia and soon at the <a href="http://www.urbanmotion.com.au" target="_blank">Urban Motion</a> conference in Brisbane. And rightly so.
The Australian Bureau of Statistics counted <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/9309.0" target="_blank">19.2 million registered motor vehicles</a> in Australia as at January 31 2018. While the human population grew by 27% since the turn of the century, vehicle numbers <a href="https://www.theaustralian.com.au/news/inquirer/if-car-ownership-keeps-growing-australians-will-be-outnumbered/news-story/92f65fe440421d9ede7155e895db723c" target="_blank">increased by 43%</a> and continue to grow in all states and territories.
The Australian House of Representatives Standing Committee on Infrastructure, Transport and Cities recently released a comprehensive report, <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House/ITC/DevelopmentofCities/Report" target="_blank">Building Up &amp; Moving Out</a>, on its inquiry into the Australian government’s role in the development of cities. The committee recommends:
"… the Australian Government, in conjunction with State and Territory Governments, undertake the development of transport networks which allow for fast transit between cities and regions, and within cities and regions, with a view to developing a more sustainable pattern of settlement based on the principle of accessibility at a local, regional and national level. The Committee further recommends that the development of a fast rail or high speed rail network connecting the principal urban centres along the east coast of Australia be given priority, with a view to opening up the surrounding regions to urban development."
The committee further recommends the <a href="https://theconversation.com/the-30-minute-city-how-do-we-put-the-political-rhetoric-into-practice-56136" target="_blank">30-minute city</a>, <a href="https://theconversation.com/cycling-and-walking-are-short-changed-when-it-comes-to-transport-funding-in-australia-92574" target="_blank">active transport</a> and a more sustainable urban form (Recommendation 11).
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Global Mobility Index by the World Economic Forum and MIT Senseable City Lab, showing how people move in 100 cities around the world. Congestion levels calculated using real-time traffic-monitoring data, commuting time and the estimated percentage of trips that could be shared if citizens were willing to wait five minutes to share a trip.
Leading up to the report’s launch, many of the inquiry’s submissions and expert witness accounts stressed the need to arrest urban sprawl and heed well-established research advice. All levels of government often ignore this advice to appease voters, but more roads and more lanes make matters worse.
<a href="https://www.linkedin.com/pulse/transport-lies-opinion-piece-graham-currie-ftse/" target="_blank">Transport research</a> provides clear evidence that increasing road capacity is a shortsighted band-aid that increases car travel. It also promotes driving dependency and ultimately makes congestion worse.
Many of the report’s transport-related aspirations point in the right direction. Yet many of them are not new and come with their own set of challenges.
Proposals to solve Australia’s mobility crisis appear to be dominated by technocentric optimism – a strong belief that new technology and disruptive innovation will somehow make it all better. Contenders for the transport panacea include car-sharing and ride-sharing platforms, electric vehicles, autonomous vehicles, <a href="https://theconversation.com/why-trackless-trams-are-ready-to-replace-light-rail-103690" target="_blank">trackless trams</a> and more efficient traffic flow systems enabled by smart city investments in IoT (Internet of Things) sensors, big data analytics and urban science. Let’s debunk some of this.
More disruption?
The notion of disruptive innovation is often believed to bring about change for the better. One of the most commonly mentioned examples is Uber and similar commercial ride-sharing platforms. They certainly disrupted the established taxi industry. But cabs are no longer their main competitor.
Uber launched the “<a href="https://www.theage.com.au/national/victoria/will-melburnians-dive-into-real-ride-sharing-with-uberpool-20180607-p4zk08" target="_blank">Pool</a>” feature, which optimises routes so more than one rider can share the same car. As a result, the cost per ride now <a href="https://www.theguardian.com/sustainable-business/2017/jan/13/uber-lyft-cars-public-transport-cities-commuting" target="_blank">competes with public transport</a> rather than just cabs. And this risks making inner-city traffic <a href="https://www.washingtonpost.com/news/dr-gridlock/wp/2018/07/25/a-new-study-says-services-like-uberpool-are-making-traffic-worse/" target="_blank">worse</a>.
More driverless cars?
Another often-cited disruptive innovation involves autonomous vehicles and <a href="https://theconversation.com/the-winners-and-losers-in-the-race-for-driverless-cars-63874" target="_blank">driverless cars</a>. While they may come with <a href="https://theconversation.com/driverless-cars-could-create-new-jobs-in-a-welcome-boost-to-australias-motor-industry-89972" target="_blank">economic</a> and <a href="https://www.theiet.org/resources/books/transport/lowcarbmob.cfm" target="_blank">environmental</a> benefits, there are as yet <a href="https://theconversation.com/driverless-vehicles-could-bring-out-the-best-or-worst-in-our-cities-by-transforming-land-use-84127" target="_blank">unresolved issues</a>.
For example, the <a href="https://theconversation.com/of-cats-and-cliffs-the-ethical-dilemmas-of-the-driverless-car-49778" target="_blank">ethics in AI can cost people’s lives</a>, road usage funding and taxation are unclear, and the average car occupancy can drop below one. As a result, without regulatory intervention, self-driving cars will <a href="https://www.nytimes.com/2018/10/27/technology/driverless-cars-congestion" target="_blank">not reduce congestion</a> but <a href="https://www.ptua.org.au/myths/robotcar/" target="_blank">add traffic</a> to the roads.
More efficiency?
Transport offers vast room for improvement, so it is not surprising that optimisation is a low-hanging fruit. The <a href="https://www.ellenmacarthurfoundation.org/publications/growth-within-a-circular-economy-vision-for-a-competitive-europe" target="_blank">Ellen MacArthur Foundation</a> identified significant structural waste not only in fuel tank-to-wheel energy flow but also in road utilisation.
<a href="https://images.theconversation.com/files/242864/original/file-20181030-76413-arqq.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/242864/original/file-20181030-76413-arqq.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://www.ellenmacarthurfoundation.org/publications/growth-within-a-circular-economy-vision-for-a-competitive-europe" target="_blank">Ellen MacArthur Foundation, Growth Within: a circular economy vision for a competitive Europe</a>, Author provided
Researchers at MIT and ETHZ propose a <a href="https://dusp.mit.edu/transportation/news/death-traffic-light" target="_blank">slot-based intersection</a> that would double the usual capacity and herald the “death of the traffic light”.
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MIT Senseable City Lab has developed slot-based intersections that could replace traditional traffic lights, greatly reducing queues and delays. Sensor-laden vehicles pass through intersections by communicating and remaining at a safe distance from each other, rather than grinding to a halt at the lights.
These efficiency gains are welcome. Yet, considering the ever-increasing demand for mobility, these measures on their own will not solve our mobility crisis.
Wanted: leadership!
What is seldom questioned is the need to travel in the first place. The right to mobility and freedom to move locally and globally are undoubted. But it is worth asking what regulatory instruments and economic shifts can produce sustainable mobility.
Some examples that have started making their way into the mobility debate include the impact of <a href="https://eprints.qut.edu.au/96279/" target="_blank">nomadic work</a> practices on transport demand and distributed <a href="https://eprints.qut.edu.au/116358/" target="_blank">co-working spaces</a> to reduce the need for CBD commutes.
Progressive policy interventions, such as <a href="https://theconversation.com/traffic-congestion-is-there-a-miracle-cure-hint-its-not-roads-42753" target="_blank">road congestion charges</a> and <a href="https://www.theguardian.com/world/2018/feb/14/german-cities-to-trial-free-public-transport-to-cut-pollution" target="_blank">free public transport</a>, lack the backing of political leadership in Australia.
Longer term, there is an urgent need to seriously consider even bolder policy innovation. We can learn from overseas examples, such as the six-hour work day, the four-day work week and the <a href="https://theconversation.com/we-should-create-cities-for-slowing-down-75689" target="_blank">slow city</a> movement, which is more about slowing down the “hamster wheel” of life than traffic. We should also evaluate <a href="https://greenagenda.org.au/2018/06/ecological-human-settlement-theory/" target="_blank">new approaches to human settlement</a> as well as what impact <a href="https://theconversation.com/australians-support-universal-health-care-so-why-not-a-universal-basic-income-91572" target="_blank">universal basic income</a> or <a href="https://www.ucl.ac.uk/bartlett/igp/news/2017/oct/igps-social-prosperity-network-publishes-uks-first-report-universal-basic-services" target="_blank">universal basic services</a> can have on reducing traffic congestion.
There are opportunities to join this debate at the <a href="http://www.urbanmotion.com.au" target="_blank">Urban Motion</a> conference in Brisbane on November 19-20 2018. We also invite participants to support the <a href="http://lowcarbonlivingcrc.com.au/FutureCities" target="_blank">Future Cities CRC</a> bid recently <a href="https://www.minister.industry.gov.au/ministers/karenandrews/media-releases/applicants-shortlisted-deliver-new-industry-focused-research" target="_blank">shortlisted</a> by the Australian government.
<hr>
Marcus Foth, Professor of Urban Informatics, Queensland University of Technology.
This article is based on the presentation “Smart Cities are Slow Cities” at the <a href="http://www.real-world-futures.qut.edu.au/future-living/" target="_blank">QUT Real World Conversation</a> forum on August 2 2018.<img src="https://counter.theconversation.com/content/105959/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
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/smart-mobility-alone-is-no-substitute-for-strong-policy-leadership-105959" target="_blank">original article</a>.
Most transport resources are being used inefficiently. The Canberra Transport Photo shows the road space required to move 69 people using public transport, bicycles and private motor vehicles. <a href="https://www.cyclingpromotion.org/canberra-transport-photo" target="_blank">Cycling Promotion Fund</a>, <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
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Smart mobility alone is no substitute for strong policy leadership: Marcus Foth

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The southern New South Wales farm, Pejar Park, located just north of Goulburn, is being offered for sale by Sydney rural property specialists Meares &amp; Associates.
The offering is via Meares Online Auction to be conducted on 17 and 18 December this year.
Located 25 kilometres north of Goulburn adjoining the village of Woodhouselee, Pejar Park comprises 573 hectares (1,416 acres).
Meares says it could be regarded as a classic high country property (710 metres to 900 metres ASL) with its 75% basalt soils; the balance being granite and loams, its easterly aspect running to a 6 kilometre frontage to the large Pejar Dam.
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Meares commented the current owner Nicholas Rowe has not only preserved, but developed the property.
Taken up in 1939 by Len and Beatrice Bligh, the Pejar homestead was designed under the guidance of leading Sydney architect John Mansfield.
It is set amid award winning gardens with English trees including claret ash, golden elms, maples and deodars.
Nicholas Rowe continued the development of Pejar Park improving the homestead and gardens under the guidance of well known designer Donald Campbell.
It has been running between 2,200 and 2,500 cross-bred ewes plus some cattle, including its Sydney Royal award winning Poll Hereford stud.
Recent sales in the Goulburn/Roslyn/Crookwell area have seen land sell for upwards of $3,500 to $4,300 per acre.
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It is expected that the property will sell in a range of $5 million to $5.5 million, i.e. ($3500 to $4000 per acre).
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Pejar Park grazing property and homestead listed for online auction

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

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The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

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It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

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The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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Joel Robinson

First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

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Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

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The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

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Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

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Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

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Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

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Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Staff reporter

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