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The 1850s home, Darling Point’s Greenoaks Cottage has been listed with a $20 million price guide.
The five-bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-darling+point-129646298">2E Greenoaks Avenue has been listed by the </a>K2 Recruitment owner Phil Kerry and his wife, Ann-Maree, the 1984 Olympic Games gymnast.
<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/2018/10/24/oaks2.jpg" alt="">
Greenoaks Cottage is currently featured in Belle magazine.
It has been restored with its works a recent winner at the International Design and Architecture Awards in London.
<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/2018/10/24/oaks3.jpg" alt="">
The home, on 1300sq m, comes with a 12.5 metre heated pool and spa and a garage for four cars.
The couple paid $6,525,000 for the property in 2015.
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j.ballantyne1990-6AQqhLzZaK

Greenoaks Cottage, Darling Point listed with $20 million hopes

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 Nearly one million Australians are suffering from ‘mortgage stress’, according to the results of a new survey.
However, the results of Roy Morgan’s Single Source Survey (Australia) are a slight improvement from 12 months ago.
The survey classified 20.8% (949,000) of mortgage holders as in ‘mortgage stress’, compared to 21.3% (974,000) last year.
The report said these people would be in difficulty if there were an increase in mortgage rates, an increase in costs, or an increase in unemployment.
Roy Morgan’s calculations accounted for household income, costs, and mortgage repayments.
The survey is based on face-to-face personal interviews with more than 50,000 Australians per annum, including over 10,000 owner occupied mortgage holders.
The level of mortgage holders at risk varied across the country, with Sydney and Western Australia the most ‘at risk’ areas at 26.4% and 23.8% respectively.
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/22/Mortgage%20stress.jpg" target="_blank">to enlarge.</a>
<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/2018/10/22/Mortgage%20stress.jpg" alt="">
Norman Morris, Industry Communications Director, Roy Morgan Research said:
“Our research shows that although fewer people have a home loan compared to 12 months ago, the average balance of their loans hasn’t declined. This indicates that loans aren’t being paid off quickly, potentially as a result of low interest rates and the use of redraw facilities to use funds for other purposes.
“The decline in the level of mortgage stress over the last 12 months is due to a marginal increase in the after tax household income as a result of reduced tax rates and a small reduction in the average standard variable rate from the RBA.
“With the potential for a number of major events to impact mortgage stress levels, such as the Finance Royal Commission, interest rates and declining home prices, the future direction of mortgage stress has considerable uncertainty.
“When rates eventually rise, existing mortgage holders who have borrowed in a low interest rate environment are likely to face increased levels of mortgage stress. The final impact however will also be determined by what happens to household incomes, which are currently showing very modest growth."
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Nearly one million Australians experiencing 'mortgage stress': Roy Morgan

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GUEST OBSERVATION
On my way to work, I walk across the intersection of Knuckey and Wood streets. Most days a homeless man on his haunches is mouthing bureaucratic platitudes:
"Let’s workshop this? We need to have meeting about this! Can you give me the heads-up on this? Do we have numbers on this? Has a C/B been done?"
Is he an old bureaucrat? Or is he just a parable of planning – platitudes, words and little action? Wishes, words and workshops are not the currency of urban design; skilled drawings, urban history, science and continuous public dialogue are.
The concern in most Australian cities, and particularly in Darwin, should be with the public form of the city – with building frontage, with the streets, squares and parks, and with what is needed to make them safe, cool and enjoyable. Such street-form-based planning should replace “tidy town” zoning planning and code-based roads that ignore heat, landscape and the public.
July 2018 in Darwin was 2℃ hotter than any previous July and the record heat has continued in recent months. Surveys show that people are leaving Darwin because of the heat.
What has gone wrong?
In the city centre, every second shop is closed and dark. Shops, offices and apartments have a 50% vacancy rate. There is no appreciation of the urban history of the decline: the growth of outer urban shopping malls, the closing of Woolworths in Knuckey Street in 2010; the changing in 2012 of the key Smith Street Mall – removing trees, installing canopies and dark pavement, and thus increasing temperatures.
The decline has not happened overnight but has been accelerated by the completion of a vast LNG project, by new shopping malls and chain stores, and by the impact of internet shopping. The Waterfront (mixed uses with a crocodile-safe “plage”) finished in 2013 is subsidised at a cost of millions every year. It is cut off from the city centre.
Traffic is reducing while more roads are being built. Darwin is over-roaded with roundabouts, pedestrian “seagull” median islands and refuges.
I have calculated that over 35% of the city centre is unshaded blacktop bitumen, which lifts ambient and surface temperatures. There is only 14% green canopy compared to nearly 50% in tree-loving Singapore.
Every day the temperature rises above 30℃. The city centre can be up to 6℃ hotter. The bitumen surfaces reach temperatures of 66℃!
What can be done about this?
Professor Mat Santamouris of UNSW and the Northern Territory government has been studying heat in central Darwin for the past year using drones and 15 weather stations on light poles. Ambient heat, surface heat, humidity and wind have been mapped, eight heat islands (6℃ above ambient) and four heat sinks (cool areas below ambient) have been identified for the northerly (The Wet) and southerly (The Dry) weather regimes.
A predictive computer model has been built to evaluate proposed strategies to reduce heat impacts. Santamouris has recommended across the city centre:
<ul>
<li>fountains and pools (very effective up to 50m away)</li>
<li>white roofs, and green roofs and walls</li>
<li>coating streets, footpaths and surface parking to make “cool pavement” (very effective)</li>
<li>increases in green canopy shade (effective in the right location).</li>
</ul>
<img src="https://images.theconversation.com/files/241190/original/file-20181018-41147-1gxwlkr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
An extensive cooling vine-covered shade structure is being erected in Cavanagh Street. Glenn Campbell, Author provided
The government is using one block of Cavenagh Street as a heat mitigation trial. The 30m-wide street is the hottest street in the city centre. Due to lack of shading, surface temperatures in the afternoon exceed 60℃. The street also acts as a breezeway, “ducting” to the inner blocks hot, dry winds in the dry season and hot, humid winds in the wet season.
Black bitumen surface will be treated with more reflective cool pavement coatings and more trees will be planted. At the southern end a long cooling vine shade structure I have designed (with the structural engineer Max Irvine) is being constructed. Equivalent to 24 trees, it completely spans the roadway with a huge curved stringybark lattice prefabricated by the Gumatj in northeast Arnhem Land.
This large living shade structure has advantages over trees. It can be built in four months, does not interrupt underground services and resists cyclones. The vines will cover the roadway in 18 months. Trees take five years.
<img src="https://images.theconversation.com/files/240716/original/file-20181016-165891-c4eubi.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
The vine shade structure will be equivalent to 24 trees but will shelter the street in months rather than taking years to grow. Author provided
But Cavenagh Street is only one of 30 blocks in Darwin. If the proposed mitigation strategies were fully implemented across the city centre, ambient temperature could be reduced by 2.7℃. This would not only make the city more comfortable for commerce but save lives and energy.
Principles for a cool Darwin
Like most cities, there is no overall urban management and coordination at the street level. Darwin’s centre is formed by the NT Planning Scheme. But within the scheme, public servants can play by their own rules: Planning, Transport, Roads, the Waterfront Authority, the City of Darwin (the council) and PowerWater. The result: Darwin streets are series of accidents.
I propose these administrations be replaced in the city centre by a Cool Darwin Authority (small with highly qualified people, and with a Larrakia elder), to develop and implement, with genuine public dialogue and discourse (not so-called “consultation”), an urban design plan.
The first principle of this plan should be reducing the ambient temperature by 2.7℃. Heat stops walkability and wandering past shops.
This could be accompanied by a second principle – a “toolbox” for cool street design. This would including limiting bitumen area.
A “toolbox” for shop regeneration would be among other important principles. This would involve limits on chain stores, disincentives for landlord keeping shops empty, incentives for filling them (even with temporary uses) and support for historic businesses. Shop closure is contagious. Where shops are empty and streets deserted yoEmpty shops and deserted areas lead to graffiti, sleeping rough and dilapidation.
Streets are central to urban cooling. There is over 300,000m2 of black unshaded bitumen. Shading and street canopies (that do not trap heat) should be ubiquitous.
The urban order and scale from the 1869 Goyder Plan have been lost, as has the central square that would give an urban focus. Cities with closely spaced intersections seem to thrive more than cities with bigger grids. It seems the more corners the better; people bump into each other more often. There is “propinquity”.
Darwin has worked hard over many years closing its arcades and cross streets (Peel, McLachlan and Lindsay). The centre needs more effective interconnection: the high town (the mall/State Square) and low town (Waterfront) with a grand flight of stairs; the mall/State Square to Old Hospital Site/Myilly Point with a cooling lineal park, via a new (old) central square.
<img src="https://images.theconversation.com/files/240722/original/file-20181016-165903-1tdjxil.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
A view of proposed waterfront stairs providing a shaded link between the high town and the low town. Author provided
Streets are the music of the city. The buildings are the lyrics. Both should come together as a musical or an opera. The music can only begin if there is a network of shade, greenery, easy walking and buildings of all types interacting with the street.
Requiem or renewal? Darwin sees itself as a laid-back larrikin city with crocs and barra. Renewal and a new character can emerge by the implementation of principles. We cannot wish for a new character.
What might emerge? Perhaps a cool-in-both-senses city: a cosmopolitan tropical capital with tree canopy, vine shade structures and fountains. Perhaps a cool international waterfront city – an eight-hour voyage by fast ferry from Indonesia. Perhaps the full urban recognition of the Larrakia, the saltwater people, and their places: beaches, fish traps, middens, yarning circles, meeting places and cultural centres.<img src="https://counter.theconversation.com/content/102839/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;">
Lawrence Nield, Professor of Practice, School of Architecture and Built Environment, University of Newcastle
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/requiem-or-renewal-this-is-how-a-tropical-city-like-darwin-can-regain-its-cool-102839" target="_blank">original article</a>.
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How a tropical city like Darwin can regain its cool

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GUEST OBSERVATION
Two years ago we were celebrating just about the best year for farmers ever. Now many farmers – particularly in New South Wales and southern Queensland – are in the grip of drought.
It underlines just how variable the Australian climate can be.
While attention is focused on responding to the current situation, it is important to also think long-term. In our rush to help, we need to make sure well-meaning responses don’t do more harm than good.
The drought policy debate
The recent drought has stimulated much empathy for farmers from the media, governments and the public. Federal and state governments have committed hundreds of millions of dollars in farmer support. Private citizens and companies have also given generously to the cause.
While there appears to be overwhelming public support for helping farmers through drought, concerns have been raised by economists as well as farmer representatives – including both the former and current head of the National Farmers’ Federation.
A central concern is that drought support could undermine farmer preparedness for future droughts and longer-term adaptation to climate change.
Another concern is that simplistic “farmer as a victim” narrative presented by parts of the media overstate the number of farmers suffering hardship and understates the truth that most prepare for and manage drought without assistance.
Sensationalist media coverage can also damage Australia’s reputation as a reliable food producer. Images of barren landscapes, stressed livestock and desperate farmers send the wrong signals to customers and trading partners.
An acute policy dilemma
The tension in drought policy is real.
To remain internationally competitive Australian farmers need to increase their productivity.
Agricultural productivity depends on two main factors. First, innovation – adopting new technologies and management practices. Second, structural adjustment – shifting resources towards the most productive sectors and most efficient farmers.
Supporting drought-affected farms has the potential to slow both these processes, weakening productivity growth.
This gives rise to an acute dilemma: should we support farmers in distress, or support the industry to be the best it can be?
Factoring in climate change
While it is difficult to attribute any specific event to climate change, it is clear Australia’s climate is changing, with significant consequences for agriculture.
Australian average temperatures have increased by about 1℃ since 1950. Extreme heat events have become more frequent and intense. Recent decades show a trend towards lower average winter rainfall in the southwest and southeast.
Research by the Australian Bureau of Agricultural and Resource Economics and Sciences shows climate change has negatively affected the productivity of cropping farms, particularly in southern Australia.
This research also shows evidence of farmers adapting to maintain productivity and reduce their sensitivity to climate.
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Key southwestern and southeastern agricultural zones have been especially impacted by climate change. ABARES
<hr>
There is still much uncertainty over what climate change will mean for agriculture in the future.
However, the evidence we do have points to more frequent and more severe droughts, if only because of higher temperatures and evaporation rates.
Farming isn’t like other industries
Although businesses in other industries are expected to manage risk without assistance, agriculture has some special aspects that help build a case for a government policy response.
First, risk in agriculture is generally greater than in other industries. Farmers are vulnerable to variation in international commodity prices as well as droughts and other extreme events.
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Second, most farm businesses are also farm households.
While many other risky industries are made up of large corporate businesses (generally with diversified assets and ownership), agriculture is dominated by family farms.
Third, financial markets both in Australia and internationally struggle to provide viable risk management products for farmers – particularly drought insurance.
This means farming is an unusually risky business. Farmers must therefore be more conservative about financing and operating their businesses, which constrains investment, innovation and ultimately productivity.
Helping farms without making things worse
In 2008 a Productivity Commission review recommended a national farm income support scheme.
This led to the Farm Household Allowance program.
It provides a fortnightly payment, usually set at the rate of the Newstart unemployment allowance. There is also a financial assessment of the farm business and funding to help develop skills or get professional advice.
Those welfare programs provide an important safety net for farm households. Because they provide targeted support to households, rather than businesses, they result in fewer economic distortions than alternative approaches.
Past reviews have consistently recommended against subsidising farm business inputs or supporting output prices. This includes providing subsidies for livestock feed.
While these measures might provide short term relief, if they become routine they risk weakening the incentives to manage farms properly, by for instance destocking sheep and cattle ahead of likely droughts.
Looking to the future, it is possible insurance could have an important role to play.
While drought insurance has failed to thrive in Australia to date, advances in data could allow more viable forms of insurance to emerge.
In particular, index-based insurance products where payouts are based on weather data rather than an assessment of farm damages.
Such insurance, if done well, could provide farmers with better protection from climate risk, while also supporting adaptation and productivity growth – effectively sidestepping our current drought policy dilemma.<img src="https://counter.theconversation.com/content/105281/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;">
Neal Hughes, Senior Economist, Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES)
Steve Hatfield-Dodds, Executive Director, Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES)
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/helping-farmers-in-distress-doesnt-help-them-be-the-best-the-drought-relief-dilemma-105281" target="_blank">original article</a>.
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Helping farmers in distress doesn’t help them be the best: the drought relief dilemma

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The Seven Network has bought an inner-Sydney Beacons­field warehouse, marketed as “a creative warehouse with residential development upside.”
It is expected to be for one of its lifestyle shows such as House Rules or Better Homes &amp; Gardens.
The Australian reported Seven Network (Operations) was so keen to acquire the two-level warehouse at 12-14 Victoria Street, Beaconsfield, for about $3 million that it snapped up the property before its September 20 scheduled auction.
The property features potential for terrace and townhouse redevelopment as well as a large frontage to Victoria Street in the upcoming trendy suburb.
The warehouse’s ground floor was previously used as a jewellery manufacturing operation while its upper levels were used as a home for its owner, costume jewellery and belt designer Peter Lang.
The warehouse also sports an outdoor upstairs courtyard.
Seven Network (Operations) bought the 780 square metre property through Knight Frank South Sydney agent Demi Carigliano. 
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Channel 7 buys Beaconsfield warehouse - possibly for House Rules

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A total of 20,653 homes went under the hammer across Australia’s combined capital cities in the three months to September 2018 - the lowest volume of auctions recorded in a quarter since the March 2017 quarter.
In the March 2017 quarter 19,241 homes went to auction, according to CoreLogic data.
The September 2018 quarter was down from 25,824 homes auctioned over the previous June quarter, and much lower compared to the 27,953 homes that went to auction in 2017’s September Quarter although there was an extra weekend of auctions which would account for some of the difference.
The combined capital city clearance rate fell to 53.6% over the quarter, down - 4.2% from the previous quarter; making it the lowest quarterly clearance result since December 2012 (50.9%).
CoreLogic analysts noted: "Perth saw the largest increase in clearance rates over the quarter, up 5.7%, followed by Adelaide with a modest 0.1% improvement.
"All other capitals saw the clearance rate drop, with Tasmania recording the largest quarterly fall (down -7.1%), although low volumes in Tasmania means the clearance rate can be volatile.
"Canberra fell -6.6%, followed by Sydney (-5.1%) and Melbourne (-4.6%), while Brisbane showed little change over the quarter (-0.1%)."
The highest clearance rate was recorded over the week ending 22nd July (57.0% across 1,257 auctions), while the lowest clearance rate was recorded over the week ending 30th September (45.8% across 895 auctions).  
Auction market review highlights:
Capital city auction clearance rate &amp; volumes
<table border="0"><tbody>
<tr>
<td>Sydney</td>
<td>50.9%</td>
<td>7,497 auctions</td>
</tr>
<tr>
<td>Melbourne</td>
<td>56.6%</td>
<td>9.629 auctions</td>
</tr>
<tr>
<td>Brisbane</td>
<td>42.7%</td>
<td>1,401 auctions</td>
</tr>
<tr>
<td>Adelaide</td>
<td>60.7%</td>
<td>947 auctions</td>
</tr>
<tr>
<td>Perth</td>
<td>36.9%</td>
<td>322 auctions</td>
</tr>
<tr>
<td>Tasmania</td>
<td>50.0%</td>
<td>39 auctions</td>
</tr>
<tr>
<td>Canberra</td>
<td>60.3%</td>
<td>818 auctions</td>
</tr>
<tr>
<td>Combined capitals </td>
<td>53.6%</td>
<td>20,653 auctions</td>
</tr>
</tbody></table>
<ul>
<li>Highest number of auctions for the quarter across capital city suburbs</li>
<li>Based on total auctions held across the suburb over the reporting period</li>
</ul>
<table border="0"><tbody>
<tr>
<td>Melbourne </td>
<td>Reservoir</td>
<td>175</td>
</tr>
<tr>
<td>Sydney</td>
<td>Randwick</td>
<td>99</td>
</tr>
<tr>
<td>Brisbane</td>
<td>Sunnybank Hills</td>
<td>46</td>
</tr>
<tr>
<td>Canberra</td>
<td>Ngunnawal</td>
<td>30</td>
</tr>
<tr>
<td>Adelaide</td>
<td>Prospect</td>
<td>18</td>
</tr>
<tr>
<td>Perth</td>
<td>Fremantle</td>
<td>8</td>
</tr>
</tbody></table>
<ul>
<li>Highest clearance rate for the quarter by capital city suburbs</li>
<li>Clearance rates are calculated when there has been at least 20 auction results reported over the period</li>
</ul>
<table border="0"><tbody>
<tr>
<td>Canberra</td>
<td>Narrabundah 85.7% (captured results: 21, scheduled auctions: 26, number sold: 18)</td>
</tr>
<tr>
<td>Melbourne</td>
<td>Wheelers Hill 81.4% (captured results: 43, scheduled auctions: 48, number sold: 35)</td>
</tr>
<tr>
<td> Sydney</td>
<td> Bondi 80.6% (captured results: 31, scheduled auctions: 41, number sold: 25)</td>
</tr>
<tr>
<td> Brisbane</td>
<td> Calamvale 47.8% (captured results: 23, scheduled auctions: 23, number sold: 11)</td>
</tr>
</tbody></table>
Across the non-capital city markets, auction volumes fell across all five regions over the September quarter when compared to both the previous quarter and the same time last year.
Clearance rates have fallen over the quarter for the Sunshine Coast (-2.2%) and Geelong (-1.6%), while the Hunter, Wollongong and Gold Coast regions have all seen some improvement when compared to the previous quarter.
Geelong was once again the top performer for clearance rates with a 68.6% success rate across 402 auctions, while the Gold Coast hosted the most auctions over the three months to September 2018 (597).
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Perth auctions notch largest increase in quarterly clearance rate: CoreLogic

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McGrath Limited has provided shareholders with a trading update in light of deteriorating market.
Impacted by the tougher real estate market across Australia, it noted auction clearance rates and the number of properties taken to auction were at levels well below the previous year.
It further noted there has been an increase in the level of overall stock currently on the market with lower buyer activity, along with homes taking longer to sell and price reductions across the sector.
After the announcement McGrath shares traded at 31 cents and closed at a record low of 32 cents.
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/24/Mcgrath5.jpg" target="_blank">to enlarge.</a>
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It was December 2015 when, some two decades in the making, the real estate services company commenced trading on the stock market.
Its initial trading price was $1.94, slightly below the public offering price at $2.10.
Today it noted industrywide data that in the past year saw the number of settled sales in the Sydney having fallen 18.5%, in Melbourne by 15.8% and Brisbane by 11%.
"The NSW and Queensland property markets represent the majority of McGrath’s footprint, with 83% of company owned and franchised listings occurring in these two states," Geoff Lucas advised.
“Over the financial year to date, we have seen a noticeable slowdown in the market with a correction of residential property values experienced across the entire real estate sector.
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"While McGrath has also been affected by this downturn, we are encouraged by our number of new listings performing better than the market,” he noted.
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Lucas noted over Q1 FY19, McGrath NSW market new listings were down just 6.9% while Queensland listings were flat.
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/24/mcgrath1.jpg" target="_blank">to enlarge.</a>
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Properties are taking longer to transact due to the softening market conditions with average days on market for McGrath company owned offices in being 42 days, compared with an average of 34 in the FY18 corresponding period.
Days on market for the McGrath network in Q1 was 54 compared with an average of 47 in the FY18 corresponding period.
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The impact of market conditions and McGrath’s performance detailed above resulted in an EBITDA loss of $1.9 million for the quarter ended 30 September 2018.
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The quarter ended 30 September is a historically slow quarter for the Company, the company expects a materially smaller loss in the second quarter of FY19.
It will provide a further update at the annual general meeting on 23 November.
Agent numbers within McGrath’s company owned offices have been increasing, reflecting the successful recruitment and retention initiatives put in place, with 154 agents at 31 March 2018, growing to 157 at 30 June 2018, and 168 at 30 September 2018.
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McGrath shares trading at fresh 32 cent record lows

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<div>The Jaycar Electronics, Bondi Junction premises sold at auction this morning for $4,445,000.</div>
<div> </div>
<div>It was listed by a syndicate headed by Sam Brewer.</div>
<div> </div>
<div>Jaycar recently renewed the lease until 2022 for the 125 Bronte Road premises.</div>
<div> </div>
<div>They are a national tenant with 100 stores through Australia and New Zealand.</div>
<div> </div>
<div>Jaycar have been at this location since 2006, auctioneer David Scholes noted.</div>
<div> </div>
<div>The site (pictured above) recently secured DA approval for a four level boarding house with 21 studio apartments.</div>
<div>
It is set over 424 sqm.
The property currently has a net income of $217,350 pa + GST and a net lease with tenant paying 100% of all outgoings, as per lease with fixed 3.5% increases annually.
<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/2018/10/4/Jaycar%202.jpg" alt="">
The corner has three street frontages (pictured above).
The property last sold for $2.04 million in 2014.
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Jaycar Bondi Junction redevelopment site sold

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Warmer weather has seen vacancy rates steady across Sydney as renters seek accommodation in the heart of the city, according to research from the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said the September 2018 REINSW Vacancy Rate Survey saw metropolitan Sydney vacancy rates down 0.2 percentage points at 2.8%.
“The change in season has seen renters return to the Inner Sydney market with vacancy rates falling 0.5% to 2.4%, a level last seen in May,” Pilkington said.
“Middle Sydney remained steady at 3.1% while Outer Sydney dropped 0.2% at 2.9%.”
In the Hunter, vacancy rates rose 0.1 percentage points to 1.9%, with Newcastle up 0.8 percentage points at 2.9%.
The Illawarra slipped 0.2 percentage points despite Wollongong being up 0.1 percentage points to 2.1%.
Across regional areas, New England remained steady at 2.2%, Northern Rivers rose 0.3 percentage points to 1.3% and Orana rose 0.2 percentage points to 2.0%.
<a href="https://www.propertyobserver.com.au/images/2018/10/22/vacancy%20rate%201%20.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/2018/10/22/vacancy%20rate%201%20.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2018/10/22/vacancy%20rate%202.jpg" target="_blank">Click here</a> to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/22/vacancy%20rate%202.jpg" alt="">
Source: REINSW
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Spring sees renters return to inner Sydney market: REINSW

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The American hotel giant Hilton has picked Parramatta for a new 245-room luxury hotel, in a move harshly described by the Australian Financial Review as an "unlikely location".
Located 25 kilometres west of Sydney’s CBD, Parramatta is a major business and commercial hub and a growing destination for business events.
The new hotel will replace the former AMP building at 20 Macquarie Street, which was once the tallest building in Parramatta.
It will be demolished with construction of a 90-metre building to kick off in 2020.
There are more than 540 Hilton hotels around the world.
Western Sydney Business Chamber director David Borger welcomed the news.
“I think we’ve really arrived as a city when we have brands like Hilton considering business here,” he told The Daily Telegraph.
“It used to be that if a city had a cathedral they’re doing well, but now it’s about getting Apple or Hilton.”
Ledrae Hotels director Lionel Chang says he is thrilled to be bringing Hilton to Parramatta.
“We have owned the building on the corner of Macquarie Street and Marsden Street since 1994 and look forward to this exciting transformation,” he says.
“With Macquarie Street being the oldest and most well-known street in Parramatta, we cannot think of a better address for what will be a fantastic hotel.”
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Hilton pinpoint burgeoning Parramatta for next Australian hotel

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Joel Robinson

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.

Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.

The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.

The challenge for investors is that suitable product is becoming harder to find.

For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.

Today, the development pipeline looks very different.

Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.

That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.

At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.

We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.

The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.

&nbsp;

[smartcode_project:default project_id=150017 project_image_fid=370964]

Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.

True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.

<h2>Corallo, Palm Beach</h2>

Priced from: $841,500

Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.

The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.

[smartcode_project:default project_id=112194 project_image_fid=808]

For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.

<h2>Corner House, Stones Corner</h2>

<h2>Priced from: $880,000</h2>

One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.

One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.

[smartcode_project:default project_id=149098 project_image_fid=330594]

Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.

The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.

Parkdrive Apartments, Chermside

Priced from: $749,000

The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.

The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.

For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.

Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Staff reporter

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