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Damian Collins has been elected as the new president of the Real Estate Institute of Western Australia (REIWA).
Collins will follow Hayden Groves, who announced he was stepping down last week.
Lisa Joyce from Joyce Property Investments was elected deputy president.
 Collins has served on the REIWA Council since 2011 and as deputy president since 2015.
He is the founder and managing director of Momentum Wealth, a Perth-based property investment consultancy, and chairman of commercial property funds management business, Mair Property Funds.
“It is an honour to be elected President and I thank Council for bestowing me with the privilege of representing the Institute on behalf of its members,” Collins said.
“I would also like to thank Hayden Groves for his hard work and dedication to the Institute during his tenure as President.
“The Council and I are dedicated to continuing to build upon REIWA’s 100 year legacy of advocating on behalf of our members and the WA public.
“The WA marketplace remains a challenging environment for agents and vendors alike and there is much work to be done as our local market begins its recovery.”
<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/photo-damian-collins.jpg" alt="">
At REIWA’s 100th Annual General Meeting last month, Hayden Groves announced he would be finishing his three year term.
Mr Groves, who will remain on the REIWA Council, was elected as President in 2015 having served on the Council since 2010.
“The past three years have been extremely rewarding and I thank the Council and REIWA members for entrusting me with the role over the past three years.
“My tenure as President has marked a very challenging time for the WA property market. We’ve seenstate migration slow, less demand from buyers and tenants, increased stock levels and subdued transactional activity.
“Somewhat unusually, no sector of the market has been spared the malaise, although tenants and buyers have benefited from improved affordability. Thankfully the worst appears to be behind us and I am hopeful a recovery is on the horizon.
“I look forward to continuing my service on REIWA’s Council, confident we will continue to build on all that REIWA has achieved over the past 100 years,” Mr Groves said.
The AGM also saw the results of the ballot for Council positions announced, with all four re-nominating Councillors returned to their positions.
REIWA’s Council includes:
<ul>
<li>
Suzanne Brown (Rentwest) [Re-elected]
</li>
<li>
Damian Collins (Momentum Wealth)
</li>
<li>
Hayden Groves (Dethridge Groves)
</li>
<li>
Lisa Joyce (Joyce Property Investments)
</li>
<li>
Peter Lawrance (Avanti Residential) [Re-elected]
</li>
<li>
Brett Thorp (Thorp Realty)
</li>
<li>
Rory Trotter (Force Real Estate) [Re-elected]
</li>
<li>
Krys Tully (Tully Real Estate) [Re-elected]
</li>
<li>Joe White (JMW Real Estate)</li>
</ul>
Council will elect office bearers, including the new REIWA President, when they meet on Thursday.
 
 
 
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j.ballantyne1990-6AQqhLzZaK

Damian Collins elected new REIWA President

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GUEST OBSERVATION
Today’s urban public spaces tend to represent governments and cities rather than people and citizens. In the past seven years, disturbing scenes of protests in city squares have been seen across the Arab world and Europe, but these public protests existed long before the 21st century. So how can city squares support or inhibit protests through their spatial characteristics and settings?
Public squares have been considered as places of encounter and exchange since the time of the Greek Agora and the Roman Forum. While often the sites of protest, these spaces also can reflect the idea of power and constrain revolutions and social uprisings.
Design and scenography can be used to intensify agoraphobia, or a fear of public spaces. Thus these spaces of expression can, at times, be silenced, putting at risk the geography of freedom of speech.
Reminders of the power of the state
Public spaces around the world have been not only places for people to gather and interact but also to demonstrate and, at times, to face their death.
In 2014, Maidan Nezalezhnosti in Kiev was at the centre of the Ukrainian Euromaidan Revolution. It was a deadly revolution of dignity. Yet the consequences of other protests largely attest to how the design of these spaces can intimidate protesters.
In 1989, students demonstrated in Beijing during the so-called Tiananmen Square protests, which ended in a massacre. This immense city square of the capital is now known for its “strange emptiness”, as Evan Osnos described it. Benches and shade trees have been removed to discourage public gatherings.
The monumentality created by the forbidden city and the government buildings, including the Great Hall of People, adds to the feeling of emptiness and intimidation. The 44-hectare public square is now considered “the opposite of a public space”:
"Its totalitarian scale dwarfs the individual and forces people to feel subservient to the power of the state."
One can see striking similarities, in terms of scale and setting, with Red Square in Moscow. Red Square had been the scene of the 1968 demonstration against the Soviet invasion of Czechoslovakia, a landmark moment in the Soviet dissident movement.
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Red Square, Moscow, has been the scene of both public demonstrations and state parades.
In Egypt, seven years after the revolution that toppled Hosni Mubarak, people tend to be cautious about expressing their views in public. Tahrir Square, the birthplace of the protests, is at risk. Towering metal gates have been erected around the square to avoid protests. These stand as a reminder of the powerful state control that the regime of Abdel Fattah el-Sisi has reasserted over public spaces.
Protest in the Arab world: the case of Tunisia
Tunisia’s Habib Bourguiba Avenue was the main stage of the 2011 Tunisian Revolution. This public space, considered the historical, political and economic heart of the city, is broad and lined with trees and government buildings, hotels and street cafes. The two paved and heavily trafficked roads on either side of the median strip isolate the pedestrian “island”.
<img src="https://images.theconversation.com/files/234958/original/file-20180905-45158-l9o97y.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Habib Bourguiba Avenue. Majdi Faleh
This staging of the avenue reflects the power, control and prohibition of protests during 23 years of dictatorship. Other intimidating landscaping elements add to the obstacles for demonstrators who might wish to use the public space for political debates.
Despite intimidation through design, Tunis’s layout made L'Avenue, as Tunisians like to call it, the perfect place to stage the Arab Spring.
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Police and protesters clash in the popular uprising that forced Tunisia’s longtime dictator to flee in 2011.
This avenue, planned in the time of French colonisation (1881-1956) for the city’s elite, resembles the Parisian Avenue of Champs-Élysées. Interestingly, even Haussmann’s celebrated Parisian boulevards, built under Napoleon III in the 1860s, were designed to help quell the city’s rebellious populace.
Strategically located near the end of Habib Bourguiba Avenue is the Interior Ministry, an icon of dictatorship and control. The “austere” grey facade and black wrought iron windows and gates create a sense of control. Its brutalist architecture, which has architectural similarities with the FBI headquarters in Washington DC, participates in shaping the public space. Razor barbed wire fences have surrounded the avenue during the time of protests. Landscaping around the ministry played a role in blocking protesters from getting closer to the monument of control.
Habib Bourguiba Avenue is named after the first president of Tunisia, a tradition for main avenues in Tunisian cities. A simple Google search produces a list of major and small Tunisian cities forced into this autocratic system of political nomenclature as an instrument of control.
The image of power and control starts with the name of the place. It continues at the end of the avenue intersecting with the previously known Place 7 Novembre, named after the date of former dictator Ben Ali’s ascension to power in a coup d’état.
<img src="https://images.theconversation.com/files/234959/original/file-20180905-45139-1y2opyq.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
Ibn Khaldun Fenced Garden with a banner of the dictator Ben Ali in the background (2009). In Arabic, it reads ‘In deed, all my ambition is for Tunisia’. Majdi Faleh
During the time of dictatorship, architects did not play an active role in shaping social, cultural and political encounters in public spaces. Contemporary public spaces in Tunisia were designed timidly or marginally, creating conflicts between architecture, the local people and the oppressive state. Even green spaces were planned but never designed, as per the planning policies. Many were replaced by commercial centres.
Metal fences are noticeable landscaping features around the Ibn Khaldun Statue, small gardens and public parks. The fences turned these spaces into enclosed and sometimes marginal parks. Large propaganda banners of the former dictator added an element of fear to these public spaces and helped deter protesters. The government gated property creates a sense of intimidation and constraint.
<h2>Designing for protests: an architect’s perspective</h2>
In designing public squares and avenues, architects should learn from these past dilemmas. The public square should not be represented as the city’s gated property or as a walled garden. It should be a space that provides citizens with opportunities to engage in political and social debates.
In the wake of the Arab Spring, rethinking spatial qualities of public spaces is crucial to provide “liberated” citizens with adequate places to communicate their political views and free cultural expression. In Tunisia’s post-revolutionary era, public spaces have increasingly become places for expression and social engagement.
Governments, not only in Tunisia but across all countries, should plan the streets for artists and protesters to create stages for their events and to communicate their ideas. Tunisia still has a long way to go.<img src="https://counter.theconversation.com/content/102275/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;">
Majdi Faleh, Teaching Assistant, University of Melbourne
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-city-squares-can-be-public-places-of-protest-or-centres-of-state-control-102275" target="_blank">original article</a>.
Main photo: Seven years after Tahrir Square became the focal point of the Egyptian Revolution, towering metal gates now control access. <a class="source" href="https://commons.wikimedia.org/wiki/File:Tahrir_Square_on_July_29_2011.jpg" target="_blank">Ahmed Abd El-Fatah/Wikimedia</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>. 
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How city squares can be public places of protest or centres of state control

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A Narre Warren North five bedroom award-winning house within Equestrian Estates has been sold recently. 
It was offered by Kristen Turner from Peake Real Estate. 
Created by a Master Builder, the house situated at<a href="https://www.realestate.com.au/sold/property-house-vic-narre+warren+north-128240698"> 291-297 Harkawar Road</a> utilised blacksmiths, locksmiths and old-style cabinetmakers.
It comes with 100 squares of living space, indoor pool, a fully serviced art studio with views, 6 stables and crushed sawdust yards.  
<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/2018/9/25/NARREN%20.jpg" alt="">
Other features include Frech Oak flooring, Horus Art Italian tiling, civil drainage and over 600,000 litres of water storage. 
There is a 45sqm separate dwelling with kitchen, bathroom and industrial a/c unit.  
<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/2018/9/25/NARRE%203.jpg" alt="">
The property is 7-star rated, offering luxury whilst being environmentally conscious.
The suburb's median house price sits at $1.18 million, according to CoreLogic. 
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Award winning Equestrian Estates home sold

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Stockland is progressing with its development pipeline of $83 million of logistics assets across Western Sydney, having signed up new tenants Silk Contract Logistics, Daikin, Orora and Colette.
Stockland's Yennora Distribution Centre spans 70 hectares and operates as an intermodal rail terminal, connected to the Main Southern Rail Line. 
It recently completed a a $26 million development at Yennora which expanded the centre to more than 300,000 square metres.
Silk Contract Logistics signed a lease which comprises a 13,597 square metre high clearance office/warehouse building, as well as 19,582 square metres of dedicated container rated hardstand, providing direct rail access to Port Botany.
Daikin has signed as a core tenant to Stockland's $96 million Coopers Paddock Logistics Park in Warwick Farm (pictured below). Colette fashion accessories and Orora Packaging have also leased tenancies at the site.
<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/2018/10/2/Warwick%20Farm%202.jpg" alt=""> 
The$50 million second stage of the Ingleburn Logistics Park has also been finalised with two new warehouse facilities of 15,494 square metres and 21,350 square metres.
This follows the completion of stage one last year, a 29,050 square metre facility that is now fully leased to Next Logistics and TIFS.
 <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/2018/10/2/Ingleburn%202.jpg" alt="">
Tony D’Addona, General Manager – Workplace and Logistics, at Stockland, said the group’s styrategy is to grow its national workplace and logistics portfolio to greater than 25 per cent of total assets.
“Our vision is to create modern, functional and connected logistics centres, supporting local employment to meet Western Sydney’s growing demand for new warehousing and manufacturing space,” he said.
“We made a decision to develop over 110,000 square metres across our Warwick Farm, Yennora and Ingleburn assets which has proven to be a great opportunity with strong leasing activity across 2018. 
“Together these developments are contributing approximately 650 new jobs for Western Sydney today, with significant potential for future employment growth. 
“The demand for high quality logistics assets has been driven by a robust NSW economy and consistent, record infrastructure investment, including the new Western Sydney Airport, offering a great opportunity to develop high quality assets in connected locations.” 
D’Addona said Stockland’s national Workplace and Logistics business includes a $600 million national development pipeline and comprises 34 properties, currently valued at approximately $3.7 billion.
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New tenants sign up at Stockland Western Sydney logistics centres

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Small business confidence and creative thinking by CBD landlords have driven a 235% increase in demand for small office space in Melbourne, says Colliers International.
The firm reported a year-on-year increase in demand for sub-300 square metre office suites in the Melbourne CBD.
“This accelerated demand highlights the strength in sentiment among small business owners,” Colliers International’s Milly Stockdale said.
“We received 748 enquiries for small suites over the past financial year FY 2017/2018, compared to 318 enquiries from FY 2016/2017. This equates to 2.3 times the demand, year on year.
“This demand has also flowed through to leasing activity, with Colliers International concluding over 100 deals for space under 300 square metres in Melbourne’s CBD year to date, compared to less than 70 at the same time last year.
“Over the next 12 months, there is only 115,000 square metres of new supply space and over 81,000 square metres of backfill space due to be added to the Melbourne CBD market. This means vacancy rates will continue to tighten, providing competitive tenant conditions.”
The lack of upcoming supply is causing tenants to commit to space to ensure that they don’t miss out on a quality address, it says.  
Strong population and job growth in Melbourne is supporting rental growth and a healthy environment for small businesses to expand.
In the recent deal, a2m Consulting secured its first CBD office, leasing 132 square metres at Suleman Group’s 470 Collins Street in a deal negotiated by Stockdale and colleague Brigitte Doupe. 
“Many iconic CBD buildings are choosing to execute a small suite strategy on vacant whole floors, due to the uptake in the market and effective net rental growth and minimal downtime,” Doupe said.
“Recent activity at 470 Collins Street – where we have negotiated 10 sub-400 square metres leasing deals in the last eight months – is a prime example of this.”
“This trend has also been recently demonstrated at 360 Collins Street, where Colliers International has secured 23 tenants under 400 square metres in the last 18 months for Dexus Property,” Colliers International’s Adam Davy said.
“This growth in demand can be attributed to several factors, including the strength in sentiment among small businesses, and the Melbourne economy supporting small business growth.”
Doupe said small businesses were jumping at the chance to secure CBD space which would see them benefit from easy access, quality of amenity and proximity to clients and stakeholders.
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Additional leases at 470 Collins Street have included:
-          Cherub Consulting (45.4 square metres)
-          Javadi (52.3 square metres)
-          Efex Group (40 square metres)
-          Endeavour Conultants (63.4 square metres)
-          Australian Institue of Engineering &amp; Technology (139.1 square metres)
-          Jaythorm (147.80 square metres)
-          United Almonds (100.4 square metres)
-          Austudy (209 square metres)
-          Egali (85 square metres)
-          Unify Solutions (96.4 square metres)
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Demand for small office space in Melbourne CBD skyrockets 

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A new residential project, known as Third Avenue, is set to come to the inner south-western suburb of Adelaide, Everard Park.
The $15 million development from Arcadian Property comprises 27 new two and three-storey homes. 
Prices at the development, which is currently in planning assessment, will start from around $500,000 when released to the market next month, said Arcadian Property Chief Executive Officer Warwick Mittiga.
“Everard Park is one of the best kept secrets in Adelaide real estate,” said Mr Mittiga.
“Within walking distance to the popular shopping and café strips of Goodwood Road and King William Road, Everard Park is only 2km from the CBD and just 10 minutes from Glenelg beach. Yet despite its amazing location and quality established homes, it remains relatively unknown.
“So we’re really excited about Third Avenue, which is going to become one of the best addresses in the inner south-west. We have direct connection to Brownhill Creek, dedicated walking trails through Unley Council and are very close to some fantastic reserves and ovals too.
“The development itself is going to be exceptional. From exterior architecture to the interior design, every element has been carefully considered to maximise living standards for residents and promote the value of their home for many years to come.
“Indeed, while we could have pushed for a bit more density in the project, we specifically chose to reduce the number of new homes and create larger houses with an increased amount of private and public open space. This enables us to focus more on quality rather than quantity, and ultimately that’s what Third Avenue is all about.”
Construction of Third Avenue is expected to commence next year ahead of estimated completion in 2020.
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New $15m development Third Avenue coming to Adelaide's Everard Park

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Byron Bay continues to perform well on the back of improving tourist numbers, the relatively compact nature of the CBD and the lack of any large shopping centre facilities, according to the latest Herron Todd White (HTW) commercial report.
The valuation firm took a look at the changing face of the retail sector across the nation in the report. 
"Construction of the new centre at Byron Plaza South is likely to create an additional supply, however the traditional CBD’s proximity to the beach is likely to maintain its strength," the valuer suggested. 
Alternative styles of accommodation for retail uses are being utilised within the industrial area, located approximately three kilometres to the west of the CBD, which are a reflection of affordability and the marrying of unapproved/illegal residential and retail components.
A current listing is a 87 square metre retail space priced at $190,000 (pictured above).
The shop situated at<a href="https://www.realcommercial.com.au/property-retail-nsw-byron+bay-502944882" target="_blank"> 1-3/52 Jonson Street </a>features large shopfront window displays, track lighting throughout and exposure with a constant stream of passing foot traffic. 
<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/2018/10/2/byron%20bay%202.jpg" alt="">
Another 90 square metre retail space located in the Byron Bay Industrial Estate has been listed for lease with the price of $620 per week (pictured above).
Located at <a href="https://www.realcommercial.com.au/property-retail-nsw-byron+bay-502961282" target="_blank">2/1 Banksia Drive</a>, the property consists of lower level open plan with amenities, small storage room, and a good size mezzanine area upstairs with kitchenette and oven.
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Byron Bay retail market continues strong performance: HTW

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GUEST OBSERVATION
Social housing is in crisis in Australia, with almost 200,000 people on waiting lists. Social housing made up 8% of all housing stock in Australia in 1966. This had fallen to just 4.3% at July 2016.
As a result, governments have tightened eligibility. Social housing is increasingly home to only the most vulnerable households. And even these households often spend years on the waiting list while experiencing severe housing stress or homelessness.
Outside of social housing, rental and ownership options are increasingly unaffordable, particularly in the capital cities. Social housing was once a stepping stone to home ownership, but this is becoming more difficult.
There is a solution
The Melbourne-based Barnett Foundation responded by creating a model of affordable home ownership for social housing tenants. The foundation developed a 34-unit apartment in the inner suburb of North Melbourne and offered 28 units to households living within 4km of the site and willing to leave their social housing. It’s called the Melbourne Apartments Project (MAP).
The foundation offered an interest-free second mortgage scheme to ease buyers’ transition into home ownership. This allows the owner to retain 100% ownership of their home while combining their own savings, a standard first mortgage with a bank and a second mortgage with the foundation.
The developer achieved cost savings during construction through reduced marketing and real estate costs (thanks to support from Melbourne City Mission), reduced tax requirements and foregone profit. The savings totalled about 37% of the market value of each property.
These savings were passed on to the buyers in the form of a no-interest second mortgage. This is not payable until the home owner sells their apartment. The second mortgage also reduces every year for the first four years.
Buyers were required to provide at least a A$25,000 deposit and to seek a mortgage to cover the remaining development costs of each unit. This is about 63% of market value, meaning they require a much smaller loan and pay less interest, as well as a smaller deposit. This helps overcome two of the largest barriers to home ownership for first home buyers.
<img src="https://images.theconversation.com/files/235129/original/file-20180906-191844-1j4qu6v.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
What do the buyers think about it?
I interviewed ten of the 28 MAP households in our research and will be presenting findings next Tuesday, October 9, at a free event.
Residents offered extremely positive feedback on their new homes and about being able to buy a home near their existing communities. They would not have contemplated this without the MAP.
Many had lived in social housing for 20 to 30 years and had never felt capable of making the move into market housing.
Participants spoke of the benefit of being able to pass on an asset to their children or to build wealth in their home. Many spoke of the great sense of achievement this move had given them.
I found residents retained extremely strong connections to their previous communities. They often returned to the public housing estates for social activities, to visit family and for community gardening.
However, many also spoke of their deep desire to leave unsafe, “aggravated” and uncomfortable previous homes. Households spoke of the deep sense of relief that came from feeling safe.
Most respondents told me their financial position had not changed or even improved since moving into MAP. Most were “over income” tenants, with a household income that meant they paid market rent for their social housing. Many found their mortgage repayments were similar to their previous rental costs.
However, social housing provides a “safety net” as rents are adjusted if household income decreases. Given some households gathered their deposits with significant support from family and friends while earning low incomes, this might be a future concern for residents.
Scaling up solutions
A 28-unit development is a drop in the ocean compared to the level of unmet need. Recent research suggests Greater Melbourne alone has a 160,000-dwelling deficit of housing that is affordable and available to very low and low-income households.
Creating a significant change requires effective models to be replicated and scaled up. In Toronto, a similar model called Options for Homes has delivered 2,000 affordable units. A further 2,500 units are in the construction pipeline.
Our research found this model is replicable and suitable for a subsection of more financially secure social housing tenants. Its scaling would be supported by access to land and finance and integration with social rental housing options.
Access to land
Access to affordable land in well-located areas is one of the largest barriers to developing affordable housing. Projects like MAP could be integrated into state government initiatives like the Public Housing Renewal Program.
Such schemes would also benefit from discounted land sales by philanthropic or religious groups, or even deferred land sale costs. Options for Homes almost always works with vendors that are prepared to defer land purchase costs until development is completed.
Access to funds
Philanthropic organisations and social impact investors like the Lord Mayor’s Charitable Foundation have already supported affordable home ownership through the Affordable Housing Loan Fund. This allowed the not-for-profit organisation Habitat for Humanity to provide no-interest loans to low-income buyers in the town of Yea in Victoria.
Similarly, social impact investors are key to providing project equity to models like the Nightingale housing model. They could provide important equity and/or debt finance to projects using the MAP model.
Integrated housing solutions
This model is aimed at households with incomes of at least A$75,000 a year, or access to a substantial capital contribution. Despite the reduced deposits and mortgage repayments, most social housing tenants will not be able to access this scheme.
Other not-for-profit organisations could replicate this model and integrate it into their existing portfolios of social rental housing. The MAP model could cross-subsidise other housing options and help to provide a diversity of housing options in developments.
Why does this matter?
For the Melbourne Apartments Project, we estimated that for every A$1 of cost to the government, it receives A$2.19 in benefits from the project. This is mainly due to new households being able to move into vacated public housing units.
If every public housing unit made available as a MAP participant moved out were reallocated to a high-needs applicant on the waiting list, the government could save A$27,458.22 in costs per MAP participant per year.
Housing is increasingly unaffordable in many parts of Australia. As governments reduce their role in social and affordable housing, the need for industry-led innovations is growing. Pilot projects such as MAP are important but need to be supported by policy and scaling mechanisms to have a systemic impact on our housing environment.
Katrina Raynor, Postdoctoral Research Fellow, Transforming Housing Project, University of Melbourne
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/affordable-home-ownership-scheme-offers-a-pathway-out-of-social-housing-102635" target="_blank">original article</a>.
The authors of this and two other recent Conversation articles – Carolyn Whitzman, Matthew Palm and Katrina Raynor – are presenting the full findings of their research project at a Transforming Housing event from 6.30pm on October 9.<img src="https://counter.theconversation.com/content/102635/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
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Affordable home-ownership scheme offers a pathway out of social housing: Katrina Raynor

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Vicinity Centres has announced a progress update asset divestment program, with the sale of a portfolio of 10 sub regional and neighbourhood shopping centres to SCA Property Group.
They also sold one Neighbourhood shopping centre to a private investor, for an aggregate sale price of $631.0 million.
The aggregate sale price of $631.0 million reflects a 5.1% discount to the combined 30 June 2018 book values of the eleven assets and a weighted average capitalisation rate of 6.9%.
Vicinity has now divested 35 shopping centres for more than $2.5 billion at a 0.5% premium to book value.
Discussions are noted to be underway with prospective purchasers of three remaining assets included in Vicinity’s divestment program.
Mr Grant Kelley, Vicinity’s CEO and Managing Director, said “These transactions are a significant achievement and advance our strategy to unlock major potential in the business.”
“It is an important step in delivering strong and sustainable growth through focusing our directly-owned portfolio on approximately fifty market-leading destination assets, expanding our wholesale funds platform and realising mixed-use opportunities across the portfolio.”
SCP will acquire ten assets for a total consideration of $573.0 million. Settlement of these transactions is expected later this month.
<img src="https://www.urban.com.au/images/2018/10/3/Vicinity%20centres.JPG" alt="">
The sale of Belmont Village (pictured above) in Victoria to a private investor for $58.0 million was settled at the end of September .
As at 30 June 2018, the eleven assets sold had specialty sales per square metre averaging $7,611. 
Vicinity’s FFO guidance for FY19 remains unchanged at 18.0 to 18.2 cents per security.
Assuming the sale proceeds of the eleven non-core assets are used to repay debt in the short-term, gearing would be reduced by approximately 280 basis points.
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Vicinity sells eleven shopping centres for $631 million

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The recently relaunched Frisco hotel has been brought to market by Manenti Quinlan.
The Frisco, located at 46 Dowling Street, Woolloomooloo is to be sold via Private Treaty.
It is situated in the hospitality precinct of Woolloomooloo, close to the Sydney’s CBD.
Nick Butler from Manenti Quinlan stated, “the current owners have overseen an extensive renovation, relaunching with modern improvements while paying due respect to its naval heritage."
The Hotel, which has 17 gaming machines, is set on 323 sqm and earns around $3.5 million a year in revenue a year across food, bar and gaming.
Set over two levels, the Frisco’s bar, food and function offerings range from rivate dining options for 10 people expand to function packages for up to 350.
The Frisco also holds six accommodation rooms located on the third floor.
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Woolloomooloo's Frisco hotel on the market two years after makeover

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Staff reporter

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