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Perth’s median house and unit price increased, according to reiwa.com data.
REIWA President Hayden Groves said reiwa.com data indicated Perth’s median house price would settle at around $520,000 for the June 2018 quarter, which was up 1% compared to the March 2018 quarter and 2% compared to the June 2017 quarter.
“In addition, Perth’s median unit price is expected to lift by 4.9% to $419,500 for the June 2018 quarter, which is 2.3% higher than the same time last year," Groves said. 
"After declining during the March quarter, it’s pleasing to see prices rebound strongly this quarter.
"With the worst of the market downturn appearing over, the improvement in house and unit prices this quarter suggests buyer confidence is returning which should bode well for sellers as we move into spring.”
Sales activity reiwa.com data shows there were 6,900 sales recorded during the June 2018 quarter.
Sales volumes have declined during the June quarter, with the onset of winter having likely contributed to subdued activity levels.
Despite the overall decline in sales, numerous suburbs recorded more sales this quarter than they did last quarter.
The suburbs with the biggest improvement in house sales were North Perth, Queens Park, Singleton, Camillo and Beldon, while West Perth, Balcatta, Rockingham, Claremont and Mount Lawley had the biggest improvement in unit sales.
The composition of sales shifted during the June quarter, with more house sales recorded in the $800,000 and above price range than last quarter.
There were 14,382 properties for sale in Perth at the end of June 2018.
Groves said stock levels across the metro area had declined 1.1% during the quarter.
“We certainly appear to have hit the ceiling as far as listing stock is concerned. Despite fewer sales being recorded this quarter, it is encouraging to see stock levels have continued to be absorbed,” he said.
It took an average of 67 days to sell a house in Perth during the June quarter which is one day faster than both the March 2018 and June 2017 quarters.
Data from reiwa.com shows the proportion of vendors who had to discount their asking price in order to achieve a sale declined by five% between the June 2017 and 2018 quarters.
“With reductions observed in average selling days and discounting, this is a good indicator sellers are listening to the advice of their agents and pricing their property in line with market expectations,” Groves concluded.
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j.ballantyne1990-6AQqhLzZaK

Perth dwelling prices rebound slightly, hinting that downturn may be over

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Construction has started on the first townhouses at Stockland’s masterplanned Orion at Braybrook community in Melbourne’s inner-west .
Some 30% of the project already sold.
Located 12.2 kilometres from Melbourne’s CBD, the new 11.5-hectare townhouse community is the largest standalone infill townhouse development in Melbourne’s inner-west.
Work has commenced on the first stage with Stockland engaging townhouse construction specialists, Glenvill Projects, to deliver stage 1. 
Ben Cantwell, General Manager of Retirement Living and Medium Density at Stockland, said Stockland has made a commitment to the City of Maribyrnong to ensure the development meets the council’s 5% Affordable Housing Target.
Townhouses are currently available for sale in Stage 2 of the project after the first stages sold out late last year.
Orion at Braybrook will comprise up to 422 contemporary townhouses on completion, with a range of two, three and four-bedroom designs available to homebuyers looking for low-maintenance living adjacent to 10 hectares of parkland with two train stations nearby.
The two and three-storey townhouses will feature flexible floor plans, quality fixtures and fittings, intelligent open-plan interiors and private courtyards and balconies.
Every townhouse is design to achieve a minimum energy rating of 6 stars with natural light and airflow, solar-boosted hot water systems and energy efficient LED lighting to reduce energy bills.
With Footscray’s café culture on their doorstep, townhouses are currently available from $699,000 for a three-bedroom, two-bathroom design with a single garage. 
 
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Construction starts on Stockland's flagship townhouse development at Braybrook

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The Federal Government’s proposed buy back of underground water within the Upper Condamine Alluviums may now result in the creation of a new peak in the cycle of the market, according to the latest Herron Todd White (HTW) rural report. 
Owners of groundwater now have the opportunity to sell part of their entitlements back to the Government under the “Restoring the Balance in the Murray-Darling basin” program. This is ground water that they have not historically been able to access and are unlikely to ever be able to access going forward. The end result will be a win for the farmers and this will create three options for them:
• Payback Debt;
• Further develop existing on farm infrastructure; or
• Further capital acquisitions.
The Government Proposal
Under the “Restoring the Balance in the Murray- Darling Basin Purchasing Program”, the Australian Government has committed $3.1 billion to purchase water for environmental purposes. This program is part of the Sustainable Rural Water Use and Infrastructure Program. On 2 June 2014, the Australian Government released the Water Recovery Strategy for the Murray-Darling Basin. The strategy outlines the Government’s approach to recovering water for the environment in the Murray-Darling Basin, whilst maximising positive outcomes for farmers and communities. This includes prioritising water recovery through infrastructure investment over water purchasing which is limited to 1,500Gl.
It is quite obvious that to date the Government’s approach was not working and a new way had to be tried as less than 8% of the target SDL has been achieved with the majority of this coming from the Central Condamine Alluvium.
<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/2018/7/12/darling%20downs%201.jpg" alt="">
Further Initiations
On 19 April 2018, the Federal Government subsequently opened a new tender round to voluntarily acquire groundwater back from farmers within the Upper Condamine Alluviums. They subsequently undertook a new approach by announcing the maximum price at which they are prepared to acquire water. This differs from previous tenders whereby no such price announcements were made.
If we look at the Central Condamine Alluvium (CCA) which involves the bulk of the water buy back volumes (currently 86,066Ml of Nominal Entitlement which will be reduced to a maximum of 37,409Ml or 43.5% of the current nominal volume), we understand that all licence holders will be initially geared down to the equivalent of 50% of their Nominal Allocations with that then reduced by a further 13% in order to achieve the target of 37,409Ml.
Within the CCA, there are multiple sub areas and currently the long term average Announced Allocations of the respective Nominal Allocations are included here.
This will ultimately mean therefore that all holders of groundwater licences within the CCA (apart from those within Sub Area 2 (3) and Transitional Zone 3 (3) which are already on 50% restrictions) will potentially lose a further 20% of their allocations over time so as to allow the government to meet its target.
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Variation to Previous Tenders
However this tender now appears to differ from previous tenders or individual private sales of groundwater in that the Federal Government will effectively buy the unusable portion of a right.
For example, if we assume that a groundwater licence holder within Sub Area 2 (3) had a nominal allocation of 1,000Ml, historically they have only been able to access 50% of this right. If they decided to sell a 50% share, they would be left with 500Ml, but would still only be able to access 50% of that remaining right or 250Ml going forward.
Now, subsequent to the announcement of this tender, it appears the farmer will be able to utilise the full 100% of the remaining 500Ml and will receive a maximum price of $1,950 per Ml for the 500Ml they sell to the Federal Government. Their position going forward will remain unchanged in that they will continue to gain access to 500Ml of groundwater per annum but will potentially have a one off windfall of $975,000 (500Ml @ $1,950/Ml).
In relation to the other sub areas however, where announced allocations are higher than 50%, the position will be slightly different. For example, within Sub Area 2 with an announced allocation of 70%, a farmer with a nominal allocation of 1,000Ml has historically been able to access 700Ml only. Previously if they sold 50% of that right, they would only continue to be able to access up to 70% of the remaining 500Ml or 350Ml.
Now if they sold 50% of their right, they will be paid $2,000Ml for the 500Ml, but the net effect of the sale will see their water right reduce from 700Ml to 500Ml, a loss of 200Ml which they can no longer access going forward. They will still have a one off windfall, but not to the same extent.
The end result will be that over the next period as this voluntary tender progresses, many farmers will receive a one off cash injection if they decide to sell part of their rights to the Federal Government. This will provide a cash injection into the market which could see the market continue on its upward projection somewhat longer than it may have otherwise done.
Peak of the Market
In summary, we have seen exceptional growth in the value of quality farming country over the past two years or so on both the Bongeen and Jimbour Plains. Now whilst there is a level of discussion within the market place broadly that we may be approaching the peak of this market cycle, it is perhaps too early to call this within this location. Given the nature of the underlying lands, the fact that “they just don’t make this country anymore” and the potential for the Federal Government to inject a one off financial boost into the local market through the buyback of groundwater, there still may be further potential for growth to occur within this particular market sector, notwithstanding the current dry conditions and the poor winter crop outlook.
A recent sale is a Rosenthal Heights lifestyle block which was traded for $960,000 (pictured below).
Located just 7.5 kilometres from Warwick's CBD, <a href="https://www.realestate.com.au/sold/property-lifestyle-qld-rosenthal+heights-7884590" target="_blank">184 Warner Street </a>is elevated slopping land with views.
The home features four bedrooms, lounge, dining and family room, kitchen and plenty of storage space. 
It is operating piggery with a contract at $5,543 plus GST per month.
<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/2018/7/12/rosenthal%20heights%202.jpg" alt="">
Another example is a Clifton property, Avonlea, which was sold for $650,000 (pictured below).
It was formerly a horse stud and spelling farm on the doorstep of the renowned Pilton Valley.
<a href="https://www.realestate.com.au/sold/property-lifestyle-qld-clifton-7943370" target="_blank">Located at 4843 Clifton Gatton Road</a>, it comprises of 100 acres of well established thriving natural pastures and 30 acres under cultivation. 
Other features include three bay hay sheds, machinery shed, large day yards, and water supply to all paddocks except cultivation.  
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Government proposal may trigger new peak in Darling Downs rural property: HTW

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A Point Cook three bedroom house with views across the wetlands was listed for $660,000 by mortgagees.
It was offered by Paul Caine and Mac Naidoo from LJ Hoober and came under contract a few days into august.
It was last sold in 2009 for $220,000.
Situated in the highly sought after Featherbrook Estate, <a href="https://www.realestate.com.au/property-house-vic-point+cook-128591606" target="_blank">295 Boardwalk Boulevard</a> consists of three spacious bedrooms, separate study, entertainer's kitchen, sun drenched living zones and undercover alfresco area.
Additional features include a remote control double garage with internal access, downstairs powder room, landscaped gardens, and separate laundry.
Located about 22km from Melbourne's CBD, it has close proximity to parklands, wetlands, Pinnacle Medical Centre and pharmacy, and Freatherbrook Shopping Centre.  
The suburb's median house price sits at<a href="/news"> $642,000</a>, according to CoreLogic. 
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A Point Cook three bedroom house with wetland views was listed by mortgagees

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Australian Unity will add a new landmark to the Melbourne skyline with The Grace Albert Park Lake.
It is a $120 million, vertical, independent retirement community.
The Grace Albert Park Lake will be marketed as the most prestigious address of its kind in Australia.
"With Melbourne’s ageing population forecasted to almost triple from 2011 to 2051, there is an increasing demographic seeking a future home that offers world-class design and facilities, beautiful residences, and an exceptional level of service,” says Kevin McCoy, Chief Executive Officer for Independent and Assisted Living at Australian Unity.
Located at 128 Albert Road on an 1,100 square metre site overlooking Melbourne’s most famous lake and surrounding parklands, The Grace Albert Park Lake will comprise 79 residences across 18 levels. 
The one, two and three bedroom apartments vary in size from 78 to 301 square metres, and will be priced from $650,000. 
One penthouse (three bedrooms plus study) will be situated on the top level, with two outdoor terraces providing uninterrupted views of Albert Park Lake, the bay and surrounds, priced at $4.5 million.
In its 19th retirement community, Australian Unity has engaged Fender Katsalidis Architects and Mim Design.
David Sutherland, Director at Fender Katsalidis said an architectural element will be the courtyard community clubs running vertically through the building, devised to provide a variety of spaces to stimulate the mind, cultivate physical and mental wellbeing, and share skills and experiences with other residents.
An Artists’ studio will accommodate painting, crafts and other creative pursuits, and a purpose-built Games Room will be devoted to activities that engage and challenge the mind. An Explorers’ Den will feature maps, atlases and travel books to explore or reminisce about experiences from all corners of the globe, and the Edible Garden will be full of fresh herbs, pot plants and greenery for residents to enjoy.
There will be a Piano Lounge and bar, a Theatrette for an intimate cinema experience, a health and fitness centre and an indoor pool. A private dining room seating up to 14 will be located on level 2 to entertain guests, and its 147 square metre rooftop terrace will have barbeque facilities and incredible lake views.
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“We designed the interior spaces to engage with residents and create a sense of pride, nostalgia and calm,” explains Miriam Fanning, Founding Director of Mim Design.
The lobby will have a concierge.
 Each apartment has a dedicated secure car space and storage facility, with the penthouse and three bedroom plus study residences having two car spaces each.
<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/2018/8/3/Australian%20Unity%20They%20Grace_Explorers%20Den_Render.jpg" alt="">
Australian Unity has partnered with Marshall White Living to sell The Grace Albert Park Lake,
Construction of The Grace Albert Park Lake has commenced with completion scheduled for late quarter one 2019.
Also owned by Australian Unity, the adjacent building is proposed to provide future residential aged and accommodation services, tailored to the needs of individual residents, as part of Australian Unity’s ongoing commitment to providing access to a spectrum of care services.
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Australian Unity announces $120 million, vertical retirement high-rise overlooking Albert Park Lake

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First home buyers are the biggest holder of home loans in almost six years.
This is despite an overall fall in today’s ABS housing finance figures.
The seasonally adjusted figures for June show an overall drop in new lending of 1.6 per cent from the previous month with falls from both investors and owner-occupiers.
While housing finance continues its downward trend, first home buyers have capitalised on a less-crowded market, recording 18.1 per cent of new home loans in June.
This is the highest proportion since October 2012.
The average loan size for first home buyers has also hit a record high of $349,800.
RateCity research director Sally Tindall said today’s data showed first home buyers were taking advantage of a cooling market.
“First home buyers are finally getting some time in the sun. There’s space in the market for them to find their feet without having to go toe-to-toe with cashed-up investors.
“While a lot of investors have sworn off property until the bottom of the market hits, first home buyers who are looking for a place to call home for the next five or 10 years are often more focused on the long game.
Today’s ABS housing finance figures also show non-bank lenders are continuing to gain market share from the banks.
Non-banks have increased the value of new owner-occupier loans by 13.37 per cent, year-on-year, while banks recorded a drop of 0.81 per cent in the value of new loans over the same period.
“The banks are throwing everything at potential new customers to attract new business and put a stop to this slide. It will be interesting to see how far they go in order to protect their market share,” she concluded.
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First home buyers at a six-year high

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The Westpac building in historic Parramatta as been sold.
The <a href="https://www.commercialrealestate.com.au/property/264-270-church-street-parramatta-nsw-2150-2014154192" target="_blank">Church Street </a> premises, comprising 660 square metres, sold for $14 million at a yield of 4.3 per cent.
It was sold through Khoury &amp; Partners, Parramatta to UPM Pacific, directed by Chinese investors from Knoxfield in Melbourne.
Last time it sold was in 2012 for $7.1 million, an almost 100% increase in six years for the heritage building (pictured above). The 2012 price represented a net yield of 7.5 per cent, with income of $536,815 a year.
Westpac sold it in 2000 for $3.03 million, with little growth during its next ownership, selling at $3 million in 2007.
Located at 264-270 Church Street, the property was originally offered fully leased to Westpac until 2015, with two further five-year options.
The building, totalling 1275 square metres, is on one of the suburb's busiest retail corners.
Agents through the years have suggested the listing was an A-grade bank investments.
The site has been occupied as a bank since 1874.
Earlier this year it was reported Westpac Bank extended its long-term 506sq m commercial lease with the new deal due to commence in March 2020.
The gross annual rent for the property is $1000 a square metre for seven years with options, and incentives.
Khoury &amp; Partners' Jon Race and Anthony Khoury executed the deal.
Banks have been somewhat difficult propositions for landlords in recent times across the country.
However a Bayswater retail property in Perth could revisit its banking roots, after being sold under the hammer earlier this month to a local community bank franchise.
Originally constructed as a banking chamber in 1975, the premises were sold off by the Bank of NSW, aka Westpac,, in 1997 at $210,000.
The 83 Whatley Crescent property was purchased by Bayswater Community Financial Services Limited.
It was bought at auction for $1.06 million.
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Westpac Parramatta premises sell for $14 million

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Up Property's iconic Morris Moor development will soon be home to CLIK Collective.
It will be the only co-warehousing and co-working space designed around the needs of ecommerce businesses in Melbourne, with the 6,000 sqm space set to meet the specific needs and growth of local online retailers.
Formerly known as Kensington Collective, CLIK Collective developed the co-warehousing concept after identifying co-working spaces for ecommerce retailers, that also included tailored warehousing spaces, loading bays, photography studios and showroom facilities, did not exist.
With over 80,000 ecommerce business in Australia, CLIK Collective Founder and Director Harry Kempler, explains that it was the well-connected location and planned surrounding onsite amenities that drove them to choose Morris Moor as the new location for their co-warehousing space.
CLIK Collective plans to provide purpose-built spaces, facilities and services for ecommerce businesses based in Melbourne's South East, assisting in the development of more than 60 new innovative businesses for the Moorabbin community.
<img src="https://www.urban.com.au/images/2018/7/31/Up%20Property_Click%20Collective%20Morris%20Moor%20Render%202.jpeg" alt="">
"Collaborative economies are making their way into the logistics industry by offering unique and clever solutions that are both efficient and environmentally responsive. We're passionate about small businesses and coworking environments and look forward to supporting local online retailers on a large scale and for the opportunities Morris Moor will bring to the local community," Kempler added.
Opening in September, CLIK Collective Moorabbin will offer a range of individually secure warehouse spaces from 12 sqm through to 300 sqm.
The business is one of four already confirmed for Morris Moor, which Up Property has revealed will see the transformation of the 60-year-old Philip Morris manufacturing site.
Up Property Managing Director, Adam Davidson, explains that they are excited to welcome CLIK Collective who are bringing the unique co-warehousing concept to Morris Moor.=
Construction began this month on Morris Moor's office building, located at the corner of Chesterville and Cochranes Road. Boasting 5,257 square metres of office space across two levels, the building has the potential to house up to six tenants ranging from approximately 250 sqm to the whole building.
Up Property have secured their first commitment within the office space.
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A new take on co-working: co-warehousing comes to Moorabbin's Morris Moor

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EXPERT OBSERVER
Who can concentrate under these conditions?
<img src="https://images.theconversation.com/files/228128/original/file-20180717-44103-1ms7ein.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="File 20180717 44103 1ms7ein.jpg?ixlib=rb 1.1"> 
Open-plan offices have taken off because of a <a href="https://www.sciencedirect.com/science/article/pii/S0272494413000340">desire</a> to increase interaction and collaboration among workers. But an innovative <a href="https://www.propertyobserver.com.au/http://rstb.royalsocietypublishing.org/content/373/1753/20170239" target="_blank">new study</a> has found that employees in open-plan offices spend 73% less time in face-to-face interactions. Email and messaging use shot up by over 67%.
The study is the first to track the impacts of open-plan offices using objective measures of communication. It used electronic badges and microphones to monitor interactions among employees and tracked changes in email use.
The findings build on previous research, which has found, for instance, open-plan work environments <a href="https://www.sciencedirect.com/science/article/pii/S0272494413000340" target="_blank">compromise employees’ ability</a> to focus and concentrate on their work.
Why go open plan?
Theoretically there are good reasons to move to an open-plan office. Our social environment <a href="http://psycnet.apa.org/record/2000-13324-007" target="_blank">plays a big role</a> in our ability to be proactive and motivated.
And success in modern workplaces is often driven by how well individuals <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/joms.12024" target="_blank">interact</a> with each other and with the organisation.
Research has shown that the time employees spend on “collaborative activities” has “<a href="https://dialnet.unirioja.es/servlet/articulo?codigo=5543898" target="_blank">ballooned by 50% or more</a>” in the past two decades.
Workplaces that facilitate more frequent and higher-quality contact with others have been shown to have improved <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/2392545?casa_token=TA0oRq0WNiEAAAAA:hXZ9j6DPo2nz3vJb1aS5W2SQR39YdMnMdtuFAm9INVhZ01etTstg6PcwFOX9MZUh0ieX8ZUwtK0Uhw_LM6jwN-CLP_MEB8jI_JBzUWSl5p6hnNOW4VA&amp;seq=1#page_scan_tab_contents" target="_blank">communication and collaboration on tasks</a>, <a href="https://www.propertyobserver.com.au/http://journals.sagepub.com/doi/abs/10.1177/0146167201278002" target="_blank">job satisfaction</a> and <a href="https://www.sciencedirect.com/science/article/pii/S0272494414001182" target="_blank">social support</a>.
The design of the workplace significantly influences this, by supporting or detracting from interdependent work.
Building a strong sense of community <a href="http://www.wired.co.uk/article/we-work-startup-valuation-adam-neumann-interview" target="_blank">has been</a> a key factor in the success of the coworking space provider WeWork. This has been largely achieved through the physical work environment – clean spaces, narrow hallways, communal kitchens and the like.
Privacy and concentration are critical
But despite the pursuit of collaboration in workplaces, the need for concentration and focused individual work is also increasing.
And <a href="https://www.emeraldinsight.com/doi/abs/10.1108/978-1-78714-577-120171011" target="_blank">research</a> shows that when employees can’t concentrate, they tend to communicate less. They may even become indifferent to their coworkers.
Knowledge work <a href="https://www.propertyobserver.com.au/http://journals.sagepub.com/doi/abs/10.1177/0018726701547004" target="_blank">requires</a> employees to attend to specific tasks by gathering, analysing and making decisions using multiple sources of information. When any of these cognitive processes are interrupted, inefficiency and mistakes <a href="https://www.sciencedirect.com/science/article/pii/S0003687011000986" target="_blank">increase</a>.
Being able to focus on a task without interruption or distraction is an essential <a href="https://www.sciencedirect.com/science/article/pii/S0003687011000986" target="_blank">foundation</a> for effective work.
But <a href="https://www.sciencedirect.com/science/article/pii/S0090261617302000" target="_blank">research</a> suggests that poor design can have unintended consequences – increasing the cognitive load on workers through high density or low privacy, both of which increase distraction.
Why open plan doesn’t necessarily lead to collaboration
In many open-plan offices, the drive for increased interaction and collaboration comes at the expense of the ability to focus and concentrate.
When distraction makes it hard for employees to focus, cognitive and emotional resources are <a href="https://www.sciencedirect.com/science/article/pii/S0090261617302000" target="_blank">depleted</a>. The result is <a href="https://onlinelibrary.wiley.com/doi/abs/10.1002/hrm.20004" target="_blank">increasing</a> stress and errors, undermining performance.
When employees can’t concentrate on their work, their <a href="https://www.anzam.org/wp-content/uploads/pdf-manager/1687_ANZAM-2014-293.PDF" target="_blank">desire</a> to interact and collaborate with others is reduced.
In addition, <a href="https://journals.aom.org/doi/abs/10.5465/amr.2016.0240" target="_blank">new research</a> suggests that increased crowding in the workplace and low levels of privacy lead to defensive behaviours and strain workplace relationships.
Other aspects of workplace design, such as views of nature or access to daylight, can replenish <a href="https://www.sciencedirect.com/science/article/pii/S0090261617302000" target="_blank">cognitive resources</a> even in the presence of distractions.
An aesthetically pleasing environment may provide an experience that is <a href="https://link.springer.com/chapter/10.1007/978-1-4757-4425-5_5" target="_blank">restorative</a>.
Additionally, <a href="https://journals.aom.org/doi/abs/10.5465/amj.2016.0248?casa_token=1B194dHoBzEAAAAA:Z32URe5SJO3Q_t34iM77xEhxgj7i9Mrs8X60fdnzQAiJc96YN70bKxH1uY9aCOL5LC_HfHEbT3Dh" target="_blank">research</a> has shown that aesthetically pleasing workplaces can help create trust within organisations.
Getting the balance right
Emerging <a href="https://www.anzam.org/wp-content/uploads/pdf-manager/1687_ANZAM-2014-293.PDF" target="_blank">research</a> has shown that individuals view similar work environments differently. Rather than a one-size-fits-all approach, as is traditional in open-plan design, work environments should provide various options that support employees working effectively.
Evolving <a href="https://www.propertyobserver.com.au/https://www.emeraldinsight.com/doi/abs/10.1108/14630011111136830" target="_blank">models</a> of workplace design are seeking to achieve this, by providing different zones for different types of work and different needs.
However, the effect of shared desk arrangements in these types of environments requires further <a href="https://www.sciencedirect.com/science/article/pii/S0003687016302514" target="_blank">investigation</a>.
Many employers are heavily <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/09613210412331313025" target="_blank">focused</a> on driving collaboration and interaction at the expense of privacy and concentration. This has negative outcomes for both productivity and work relationships.
Organisations should focus on providing workplaces that support the requirements for privacy and focus, as well as interaction and collaboration.
<img src="https://counter.theconversation.com/content/99756/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">To achieve this, greater emphasis needs to be placed on both visual and auditory privacy, particularly the use of acoustic treatments, as well as the layout and appearance of the workplace as a whole.
Libby Sander is the Assistant Professor of Organisational Behaviour at the Bond Business School
This article was originally published on The Conversation.
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A new study should be the final nail for open plan offices

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Queensland property group CFMG Capital has unveiled their latest investment opportunity from its $200 million CFMG Land &amp; Opportunity Fund, seeking to raise $3 million for a 100-lot community between Brisbane and the Gold Coast.
The new project, Elevate, will be located on a 5.7-hectare site at Ormeau Hills which was recently acquired for its strategic positioning in the thriving development corridor between Brisbane and the Gold Coast.
The CFMG Land &amp; Opportunity Fund is an unlisted managed investment scheme that invests in the development of residential land subdivision projects on a case-by-case basis. The Fund currently holds investments in seven different projects with a gross sales value of more than $200 million.
The Product Disclosure Statement (PDS) for the Elevate project indicates a 12% fixed return per annum over the two-year fixed investment term.
CFMG Capital General Manager Andrew Thomson said the property was settled in June 2018, with a development approval for 96 allotments already in place, with plans to apply for amendments which will allow for Elevate's 100 total lots.
Mr Thomson said the Land &amp; Opportunity Fund was a powerful tool for investors seeking exposure to Queensland's residential land market.
"The Fund's fixed 12% per annum return is quite attractive in a low interest rate environment and only achievable through a combination of our internal development expertise, a commitment to putting returns to investors ahead of development profits and the expectation that Queensland land market will continue to strengthen over the next two years," he said.
"Investors also receive the return on their investment on a fixed maturity date - typically after 18 to 36 months.
"In contrast to volatile property investments based on assumptions, CFMG Capital's fund duration and fixed return policy gives investors a healthy level of confidence that the returns will be delivered."
Mr Thomson said managed investment schemes like the CFMG Land &amp; Opportunity Fund were a sensible alternative for investors looking for property exposure but not the risks associated by directly buying a single property that is heavily leveraged.
"The Fund is based on exposure to dozens of blocks of land in a subdivision or across multiple projects, providing diversification over direct residential property which typically limits investors to one asset," Mr Thomson said.
"CFMG Capital is also a solid investment due to the strict criteria we adhere to before acquiring land to maintain value over the long term," Mr Thomson said.
"Our entire business model is based around securing land with proximity to a major capital city, existing and proposed competing land estates and key planned infrastructure projects.
"We also take population growth and demographics of the locality into account, and ensure investors can secure opportunities in areas with employment opportunities, lifestyle choices like schools, transportation and recreation," he said.
CFMG Capital's Elevate site in Ormeau Hills is 25 kilometres north of the Gold Coast CBD and 40 kilometres south of the Brisbane CBD, and is within one kilometre of the existing Ormeau Town Centre which features a Woolworths, IGA, service centre, health care and a range of specialty stores.
The future North Ormeau Town Centre is also currently under construction 500 metres away with Coles confirmed as the major tenant.
Ormeau Hills has also earned it title as a growth area from the demand generated by the proximity of major transport infrastructure such as the M1 and Gold Coast bus routes, nearby open space and parkland and key employment nodes including the 127 hectare Yatala Enterprise Area, which is projected to inject $1 billion into the local economy over the next decade.
Stage one subdivision works on the Ormeau land are planned for October 2018 and will carry on through 2019, with registration of allotments taking place April 2019 and final stage one settlement later in the year.
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CFMG unveils Ormeau Hills investment offer with fixed 12% return

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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