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Negative gearing remains, but the entitlement rules are being tightened around what can be claimed by property investors on travel expenses.
Investors will no longer be able to claim tax deductions for travel expenses “related to inspecting, maintaining or collecting rent for a residential rental property” from July 1.
Of the nation's 2 million landlords, about 1.3 million are negatively geared.
The measure is intended to “address concerns that many taxpayers have been claiming travel deductions without correctly apportioning costs”.
The government expects the travel changes to bring in an extra $540 million in revenue over the next four years.
Australia's 1.3 million-strong contingent of negatively geared landlords will no longer be able to claim travel expenses for inspecting their residential properties.
It also applies for travel to collect rent on a property.
At present, travel-related ­expense claims related to inspections but in reality ‘holidays’ is costing the government more than $160 million a year.
"This is an integrity measure to address concerns that many taxpayers have been claiming travel deductions without correctly apportioning costs, or have claimed travel costs that were for private travel purposes," the budget papers say.
It does not apply to commercial property.
Property management fees for third parties such as real estate agents will remain tax deductible.
The 2017 budget sees rules being tightened around what can be claimed by property investors, specifically around depreciation deductions.
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j.ballantyne1990-6AQqhLzZaK

Property investors to lose travel expense tax claims: 2017 Budget

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From 1 July 2018 the Government will require purchasers of new residential premises to remit the GST directly to the ATO as part of settlement.
KPMG's Indirect Tax Partner Kate Law says this announcement comes as a surprise.
"It is a significant divergence from the way the GST system currently operates , where GST is collected from the supplier (developers).
"The Government has announced this change as a tax integrity measure," she noted.
Around four years ago, ATO compliance programs targeted illegal “phoenix” activity, purportedly from a number of property developers who repeatedly placed companies in liquidation with outstanding GST obligations, despite having claimed input tax credits on construction costs.
However, KPMG indicated it was not aware of industry consultation on this issue more recently.
"We question the practicality and administrative cost of imposing GST on unregistered ‘mum and dad’ purchasers.
"Where developers use the margin scheme to calculate the GST liability, the purchaser is unlikely to be aware of the amount of GST included in the purchase price.
"This measure will therefore require developers to change the way they disclose the price to ensure the GST liability is disclosed as a separate line item," it noted
The Budget papers state that this measure is estimated to increase GST revenue by $660 million and associated payments to the States and Territories, net of administrative costs, by $1.6 billion over the forward estimates period (4 years to 2019-20).
However, the Budget papers state that the difference is due to the timing of when GST is collected and recognised.
"This suggests that it is not a permanent GST difference - which is seemingly at odds with the Government’s statement that some developers are failing to remit the GST to the ATO.”
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New residential GST surprise policy shift in 2017 Budget 

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CBA, the nation's largest mortgage lender, is axing residential and commercial loans for self managed super funds (SMSF).
The bank will be withdrawing its SMSF lending product, SuperGear, from October 12.
Westpac Group, the nation's second largest mortgage lender, already pulled out of the sector in July.
But the Australian Financial Review said the move had shocked mortgage brokers and financial advisers. 
"We are seeing the writing on the wall for leveraged SMSFs," said Sally Tindall, director of research for RateCity, which monitors rates for financial service products. 
"This calls into question the viability of the leveraged SMSF sector."
"CBA has decided to withdraw its SMSF lending product that allows SMSF trusts to purchase both residentially and commercially secured properties," a spokesman said.
"This is part of our strategy to become a simpler, better bank.
"We are streamlining our product portfolio and have decided to discontinue SuperGear."
The bank said it will be writing to customers who hold a SuperGear loan outlining the changes.
It will continue to support existing loan accounts.
Regulators fear problems arising from SMSF investors leveraging their superannuation to invest in a single residential property because of the lack of diversification and increasing dangers of loss in a falling property market where it is difficult to find tenants. 
A key finding of the David Murray-led financial system inquiry in 2014 was that leverage should be banned in superannuation funds to mitigate the risk of financial instability.
The government rejected his advice.
Nearly $700 billion is held in SMSF funds by more than one million investors.
During the past four years the number of members investing in property has increased from about 3.6% to 6.9% of SMSF fund assets.
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Leveraged SMSF sector in doubt as CBA scraps SMSF lending

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New figures have revealed the popularity of townhouses is soaring, with approvals for new townhouses at record levels in Australia’s biggest cities.
In the 12 months to December 2017, townhouse approvals had the strongest year on year growth at 21% in Victoria (VIC) and 28% in New South Wales (NSW). 
Conversely, in the same period, the number of approvals for detached houses in NSW and VIC fell by 2% compared to the previous year – with <a href="http://www.ironfish.com.au/blog/2017/08/03/townhouses-next-big-thing/">more Australians</a> shifting away from detached houses in favour of higher density living.
An analysis of ABS dwelling unit data over the last 5-7 years has shown an exponential increase in townhouse approvals as more developers seek to meet this growing demand.
In 2017, annual townhouse approvals rose by 124% in Victoria (VIC) and 128% New South Wales (NSW), compared to 2011 figures. 
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Housing approvals drop
While the rate of growth for townhouse approvals has remained robust and positive for the last 5 years, the rate of growth for traditional detached housing approvals has been declining over the same period, with weaker overall year on year growth.
<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/2018/8/8/IRONFISH%202.jpg" alt="">
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Over the past 5 years, VIC townhouse approvals averaged an annual rate of growth of 14.4% and NSW townhouses averaged an annual rate of growth of 15.3%. Detached housing approvals increased at lower rates of 2.6% and 9.3% respectively.
<h4>Houses &amp; Townhouses – 5 year rate of growth</h4>
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<h2>Comparable backyard to a House &amp; Land</h2>
Typically, townhouses provide a more affordable, family-friendly alternative to a detached house, with more indoor and outdoor space and privacy than an apartment, but without the cost and upkeep of a larger home on a big block.
What’s interesting to note, however, is that many new townhouses aren’t compromising so much in the way of backyard space anymore.
As the cost of land continues to rise across the nation, block sizes are <a href="http://www.ironfish.com.au/blog/2017/11/07/smaller-blocks-larger-price-tags-aussies-opting-big-backyard/">continuing to decrease</a>, ultimately resulting in smaller backyards. In some cases, these backyards are the same size or only slightly larger than the backyard you would find in a townhouse.
In the Sydney suburb of Schofields for example, townhouses can offer up to around 70% as much backyard space as a standalone house &amp; land package – with a substantial price saving to boot.
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For the growing number of families wanting a backyard without compromising their ‘lock up and leave’ lifestyle, townhouses can offer the ideal solution. Even a quick poll at Ironfish HQ, revealed the popularity of this lifestyle choice.
<blockquote>
“We currently live in an apartment with a young family and would likely choose a townhouse in our area as our next move,” said Ironfish staff member Manisha Lee. “We don’t want to compromise on our location and we want to be within an easy commute to work. A townhouse is a more affordable way to have that extra bedroom and backyard space that we need compared to a standalone house or terrace-house in the same area.”
“And to be honest, we’re used to apartment living; we don’t want the headache of having to maintain a property ourselves – we have enough on our plate with working fulltime and raising young kids as it is! Having someone else manage the maintenance makes it much easier.”
</blockquote>
<h2>Location, location</h2>
Not only are townhouses an affordable option compared to detached housing, they are also increasingly better positioned in new master-planned communities.
A growing trend we are now seeing is that councils and developers are positioning townhouses in prized locations, near parks or on the waterfront. They also tend to be in closer proximity to transport hubs, retail and other amenities compared with house &amp; land.
<h2>Luxury and affordability</h2>
With rising land prices in Sydney and Melbourne, affordability has been a key driver for prioritising townhouses across urban planning measures. The NSW Department of Planning and Environment, for example, states that medium density housing provides an important alternative, offering more affordable housing choice in a market that has traditionally been a mix of fully detached housing and apartments.
However, townhouses do come in a variety of different sizes and price points and are not necessarily pitched exclusively at entry level buyers.
<blockquote>
Domain Data Scientist, Dr Nicola Powell, points out that many developers are now including fittings and fixtures and architectural design standards more closely linked to the luxury end of the housing market. They are also better catering for families with younger children through the inclusion of common gardens or other leisure spaces.
</blockquote>
<h2>The rise and rise of townhouse living</h2>
In the 2016 Census, the growing shift away from detached housing towards higher density living was revealed. Townhouses accounted for 12.7% of resident homes in Australia, up from 9.9% in 2011 – while detached houses, though still the majority, continued their longer-term declining trajectory from 75.6.7% to 72.9%.  
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“In the face of affordability constraints, changing lifestyle choices and an expanding population, we expect townhouse living is only going to increase in popularity,” said Ironfish Head of Property, William Mitchell.
“And as more new townhouses are built to meet this growing demand, it’s likely the next Census data set will show an even stronger uptake of townhouse living.”
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Are townhouses the new house?

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Bank-owned superannuation funds are losing billions to industry funds a response of customers in response to their misbehavior that has been revealed at the banking royal commission.
AustralianSuper says it received more than $1 billion from new customers in each of July and August – double the amount of the same time last year.
Chief investment officer Mark Delaney said the gains were due to transfers out of retail funds.
"We can see where the money is coming from," he told Fairfax Media. "It's money being rolled in and it's coming from retail providers."
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<div class="cq-article-content-media section">With more than $140 billion in funds under management, AustralianSuper is already the nation's largest super fund.</div>
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In the June quarter, the value of industry funds surpassed retail funds for the first time; the sectors hold $632 billion and $622 billion respectively.
It appears while industry super executives were called before the royal commission they emerged largely unscathed.
Hostplus was found to have fallen below community standards when it sought to keep low-balance members in the fund.
Hostplus had been riding a wave of popularity generated by author Scott Pape, better known as The Barefoot Investor.
The Hayne royal commission gave industry super funds a surprisingly "cursory" examination, says former union boss Paul Howes.
KPMG wealth chief and former union boss Paul Howes told Fairfax Media he was surprised at "the significant amount of time that was dedicated to retail funds versus quite a cursory amount of time on industry funds."
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Howes said consolidation of industry funds was the most important issue faced by the super sector and yet the commission spent comparatively little time exploring it.
<div id="article-inline-ad" class="adWrapper">"We have 238 APRA-regulated funds in a country of 25 million people," he said.</div>
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"It is insane, and it is an indictment on our sector and the regulator that so many exist.
"What also surprised me was the lack of focus on returns," he said.
"I felt they talked a lot about fees ... transparency and disclosures, but ultimately the $2.7 trillion question for the sector is about returns. It was almost like the elephant in the room that was never mentioned."
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After cursory examination, Hayne royal commission triggers influx of billions into industry super

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National residential listings declined 9.2% in December 2018 to 328,203 from 361,619 in November 2018, according to SQM Research.
It noted that the stock reduction in all cities was expected during the festive and summer break, however, the decline in Sydney, Melbourne and Canberra were larger than expected.
Residential listings were down on November in Sydney 17.7%, Melbourne 17.2% and Canberra 15.5%.
Hobart recorded the smallest monthly decline at 5.8%.
But compared to a year earlier, national listings were up 2.8%, with Sydney, Melbourne and Canberra’s year-on-year listings up the most - Melbourne up 25.4%, Canberra 19.3% and Sydney up 16.5%.
Hobart on the other hand experienced a yearly decline of 5.8%, with residential property listings dropping from 2,426 in December 2017 to 2,286 in December 2018.
Adelaide and Darwin also experienced yearly declines of sale listings at 4.1% and 2.9%, respectively.
<img src="https://www.urban.com.au/images/2019/1/8/SQM%20Table%201.JPG" alt="">
(Source: SQM Research)
Louis Christopher, managing director of SQM Research, said listings in December had some large falls however, let us keep in mind there was a surge in listings recorded in November and that December traditionally records a large fall in properties for sale as this is a holiday period.
“Our view remains in place that prices will likely fall in Sydney and Melbourne over the course of 2019.
"We note however that Melbourne house asking prices increased during the month by 0.3% as did unit asking prices in Sydney 0.7%.
"I also note that national listings are now only up 2.8% for the year, indicating that regional centres may well have outperformed the major capital cities in 2018.”
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
Asking prices were a different story as capital city asking prices rose 0.4% for units to $571,600 but declined 0.9% for houses to $924,500, for the month to 31 December 2018.
The largest monthly rise came from Canberra, where house asking prices rose 2.5%. However, Unit asking prices in Canberra declined by 1.1%.
Sydney recorded the highest increase in Unit asking prices of 0.7% but the largest decline in House asking prices of 1.6% over the month.
Year-on-year asking price gains were the strongest in Canberra for both houses and units, with house prices rising by 3.4% and Units by 7.9%.
Year-on-year prices fell in Sydney, Darwin and Perth for both houses and units.
Brisbane and Hobart recorded increases in house asking prices but unit prices declined year-on-year.
This was reversed in Adelaide and Melbourne which recorded decreases in house prices but increases in unit asking prices over the year.
<img src="https://www.urban.com.au/images/2019/1/8/SQM%20Table%202.JPG" alt="">
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December 2018 national residential listings sat higher than December 2017: SQM Research

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The prestige market in Sydney is spread across a number of regions including riverfront locations in the south and inner west, to large estates in The Hills, to large modern inner city apartments, to harbour side and beachside areas of the east and north.
Traditionally prestige properties were considered to be those with a value above $3 million, however in some areas this is now $5 million and above, the valuation firm Herron Todd White's latest report suggested.
It noted the prestige market has experienced significant growth over the past five years, however has experienced some softening of prices over the past six to twelve months, with some areas holding up better than others. A recent CoreLogic article indicated a 5.7% fall in the prices of the 25% most expensive properties in Sydney over the past 12 months.
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HTW consider the prestige market to be less dependent on affordability issues than other markets. 
Instead, the market is driven by global flows of wealth and a supply versus demand balance. It noted the factors that will help stimulate the Sydney prestige market include the Australian dollar, domestic and international share markets, business performance, business confidence, company profits, Chinese interest in trophy homes, buyer activity from expats and migration interest under the Significant and Premium Investor Visa Program.
The report did noted that rhe eastern suburbs prestige market has started 2018 fairly strongly, carrying over from what was considered a solidly performing 2017.
Good quality family homes in the $5 million to $10 million price range are the strongest sector of the prestige market. 
The harbourside suburbs of Bellevue Hill, Rose Bay, Woollahra, Double Bay, Dover Heights and Vaucluse and beachside suburbs such as Bronte, Tamarama and Clovelly have all seen steady numbers of prestige sales in the year to date.
Local high income families have been the typical buyers for these types of properties which is driving this sector. Vaucluse saw approximately 11 registered sales above $5 million in 2018 (as at 19 April) with two of these sales being above $10 million (source: PriceFinder, RP Data and Realestate.com.au.).
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The higher price points of $15 million plus, often referred to as trophy homes, have seen limited transactions and some market softening with extended selling periods. Vendor expectations have had to become more realistic to meet the market.
This is fairly similar with the prestige unit market with somewhat mixed results and limited transactions occurring in the $5 million plus category.
Buyers are becoming more cautious particularly in regard to those considered to be secondary prestige properties (busy road positions, steep sloping sites, etc). There are also an increasing proportion of prestige properties being sold off market though local agents.
Overall there are some mixed results within the eastern suburbs prestige market and the rest of 2018 is expected to see a continued stable market with some of the price points and property types experiencing some softening.
Some examples of recent prestige sales in the area include 148 Old South Head Road, Vaucluse, which sold in March for $8.2 million after 30 days on the market and 178 Hopetoun Avenue, Vaucluse, which sold in April for $17 million after 253 days on the market with original expectations in August 2017 of $22 million.
A Vaucluse brand new architecturally designed house over three levels with harbour views was sold on May 3 (pictured below).
Designed according to traditional Feng Shui principle, <a href="https://www.realestate.com.au/sold/property-house-nsw-vaucluse-127494758" target="_blank">the 148 Old South Head Rd</a> house is graced with prestige appointments and finishes of the finest calibre.
The indoor features include five bedrooms, living/dining and family areas with balconies, home cinema and Miele marble kitchen.
The outdoor area comes with mosaic tiled pool, rooftop terrace with superb views and five car garage. 
Positioned on a 700 sqm block, it is opposite Christison Park and the iconic Macquarie Lighthouse. 
<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/2018/5/15/148%20OLD%20SOUTH%20HEAD%20ROAD.jpg" alt="">
Another Vaucluse seven bedroom harbourside house was sold in April (pictured below).
Architect designed by Michael Suttor less than 20 years ago, the <a href="https://www.realestate.com.au/sold/property-house-nsw-vaucluse-126089194" target="_blank">178 Hopetoun Avenue house</a> features light filled interiors and resort style living.
It comes with seven bedrooms, separate formal lounge and dining areas, and gourmet open plan kitchen.
Outdoor features include level garden, pool, and full tennis court.
It is located within a stroll to historic Watsons Bay and convenient to Rose Bay and Bondi Beach.
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Some softening in prestige prices in Sydney's trophy home market

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When looking at prestige properties on the Sunshine Coast the one thing you can say is that it has ‘all been happening’, according to the valuation firm, Herron Todd White.
 Buyer demand is strong with the stock levels being low in turn leading to upward pressure being placed on prices, its May report noted.
When defiining the Sunshine Coast prestige market, the $1 million mark has always been considered the starting point. 
Just like lower-priced entry-level properties, the entry levels of the prestige market, between $1 million to $1.5 million have been the most popular.
"As this sector of the market took off we have seen a fuse being lit. 
"Activity has picked up right through the value bands all the way to the three record-breaking transactions that occurred in the space of four months," HTW advised.
The most popular areas in the prestige market have continued to be coastal locations.
When looking at the coast you can break it up by the old shire council regions being Caloundra to the south, Maroochy to the central area and Noosa to the north.
"There is no doubt that beachside and canal front areas have all been performing really well.
"Suffice to say they aren’t making any more of these property types which should hold owners in good stead.
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When looking at the prestige rural residential/ lifestyle market, things are a bit different," HTW advised.
 This market is little hard to gauge as it is very property specific with personal preferences presentation and motivation of both purchases vendor is having an impact on the ultimate sale price. 
Therefore wider market parameters should be expected than those experienced for more traditional residential properties.
An interesting observation in this lifestyle market is that proportionally, values for smaller acreage prestige properties have performed better than the larger acreage counterparts. 
It appears that the cost to run these larger acreage properties have had a bearing on the market that does sometimes struggle to get its ‘head around’ what’s involved.
For units, HTW have seen a flight to larger permanent occupancy style product. 
The main market operating in this area is the ‘empty nester’s that are looking to downsize and have a property where they can ‘lock and leave’ and go travelling etc.
Within the resort/holiday space, we have also started to see the Hasting Street beachfront units come back but still a bit off from the last market peak.
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The improvement in the prestige/higher end properties has historically been driven by a high percentage of interstate investors from Sydney and Melbourne. 
"This is especially the case in the Noosa region. 
"The relative affordability, when you compare Sydney and Melbourne prices to those of the Sunshine Coast, demonstrate pretty good value. 
"It also appears that Sunshine Coast is pretty high on a number of the list of the baby boomers that have started to retire."
There have been three record sale prices that have transacted in the space of four months. 
First off 29 Wyuna Drive, Noosaville sold in October 2017 for $10.3 million (Listed for $11.9 million) which was on the market for 351 days. 
Next was 46 Seaview Terrace Sunshine Beach, which sold for $15.2 million (Listed for $18 million) in January 2018 and was on the market for approximately 581 days.
Finally 21 Webb Road, Sunshine Beach sold in February 2018 for $18 million (Listed for $22 million) after being on the market for only 52 days. 
It is HTW's understanding that the purchases of some of the properties were highly successful business people that had effectively sold large businesses.
The ‘ultra- prestige’ sector is more a matter of timing rather than anything else and tends to be more active during periods of stronger M&amp;A activity.
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"The question that we always get when we looking at the prestige markets is that - is the current growth that we are experiencing sustainable?
"There is no doubt that the prestige market is heavily linked to the wider economy which has been performing well.
"HTW do however have a history of volatility (up to 40% in some cases) in this market given that these properties are ‘wants’ rather than ‘needs.’ I mean, is there anything more discretionary than a multimillion-dollar holiday home?"
The report concluded the big positive at the moment is that the Sunshine Coast appears to be ‘on a lot of people’s lips’ and while the economy keeps performing well and barring any unforeseen incidents, the prestige market should keep chugging along for a little while yet.
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Upwards pressure on prices in Sunshine Coast trophy home market

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GUEST OBSERVATION
The Productivity Commission’s <a href="https://www.pc.gov.au/inquiries/current/superannuation/assessment/draft" target="_blank">latest report on superannuation</a> asks whether the current system is working for members – and answers <a href="https://theconversation.com/young-people-not-employers-should-choose-super-fund-productivity-commission-97329" target="_blank">firmly in the negative</a>.
The report identifies four factors that can chip away at super fund members’ retirement benefits:
<ul>
<li>fees</li>
<li>rate of return</li>
<li>insurance</li>
<li>holding multiple accounts
</li>
</ul>
What is also clear from the evidence laid out in the report that the not-for-profit sector, including industry super funds, generally outperforms the retail sector. Generally they offer lower fees and higher returns, although there are some industry funds that rank among the lowest-performing.
Despite recent reforms such as the 2013 launch of MySuper, the superannuation system is still beset with the same problems of rising fees and patchy performance. And there is still no substitute for just hopping on the internet and proactively checking that your super is in the best possible hands.
The situation is made complex by the highly segmented nature of Australia’s superannuation system. Besides the public sector funds, the most significant sectors are the retail sector and the not-for-profit funds, including industry funds (see figure 1.5 here). These sectors compete for as large a slice as possible of the overall pool.
Self-managed superannuation funds are also a rapidly growing sector of the market, however the regulatory framework applied to these funds has some significant differences to the rest of the market.
Tracking your super
Most employees have the right to choose their superannuation fund (<a href="http://kmo.ministers.treasury.gov.au/speech/008-2018/" target="_blank">although around one million don’t</a>), and if they don’t nominate a fund, employers will pay contributions into a default fund.
As the new report points out (see figure 1.2 here), up to 40% of superannuation members hold multiple super accounts. In some cases this may be a deliberate choice – someone with a self-managed super fund may might, for example, choose to have their employer contributions paid into a conventional fund. But often multiple funds are a consequence of employees being enrolled into a new default fund instead of paying contributions into an existing fund.
A range of <a href="https://www.ato.gov.au/Individuals/Super/Keeping-track-of-your-super/" target="_blank">tools</a> is now available to help people consolidate their super, so as not to <a href="https://www.moneysmart.gov.au/superannuation-and-retirement/keeping-track-and-lost-super/consolidating-super-funds" target="_blank">lose any of their savings</a>. In the 2018 federal budget the government <a href="https://treasury.gov.au/consultation/c2018-t286292/" target="_blank">announced</a> that it would reduce the paperwork involved in this process by allowing the Australian Taxation Office to consolidate inactive super accounts with balances less than A$6,000.
MySuper
The primary aim of <a href="https://www.moneysmart.gov.au/superannuation-and-retirement/how-super-works/choosing-a-super-fund/mysuper" target="_blank">MySuper</a>, introduced in 2013, was to provide a <a href="https://static.treasury.gov.au/uploads/sites/1/2017/06/R2009-001_Final_Report_Part_2_Chapter_1.pdf" target="_blank">simple default product</a> that meets the needs of members who are not engaged with their superannuation. They have no entry fees, offer simpler insurance and services, and lower administration fees that are charged on a cost-recovery basis.
But although the effects of MySuper are generally positive, the 2013 reforms may also have contributed to the erosion of funds identified by the new review.
This report confirms (see chapter 3, p.127 here) that super fund fees in Australia are among the highest in the OECD, and the upward pressure on fees continues. Just this month, the Commonwealth Bank announced that it would <a href="https://www.smh.com.au/money/super-and-retirement/cba-s-superannuation-sting-is-out-and-out-gouge-says-minister-20180523-p4zh23" target="_blank">pass the costs of regulation onto some superannuation products</a>.
One of the consequences of introducing the fee charging limitations for MySuper accounts was that the previous member protection standards that limited fees on low-balance accounts was <a href="https://www.legislation.gov.au/Details/F2013C00067" target="_blank">repealed</a>. In the 2018 federal budget the government <a href="https://treasury.gov.au/consultation/c2018-t286292/" target="_blank">announced</a> that fees would be capped in respect of certain low balance accounts.
MySuper products must provide also life insurance on an opt-out basis. Insurance in superannuation has also been under scrutiny, with inappropriate or junk policies being included in superannuation. The government has announced proposals to change this to an <a href="https://treasury.gov.au/consultation/c2018-t286292/" target="_blank">opt-in</a> system.
This report adds to the evidence that overall the current structure of not-for-profit funds is serving members well. Although it supports proposals to require the trustees of industry funds to increase the number of independent directors, the Productivity Commission highlights the need for a stronger focus on trustee skills and addressing conflicts of interest.
Take responsibility for your super
It is concerning that many of the problems identified by the new report are the same ones that arose in the 2014 Financial System Inquiry, the 2015 Cooper Review, and in the evidence to the Financial Services Royal Commission.
Most of these issues raised have been part of the discussion for the past decade. The fact that they are still on the table shows a level of inertia in the system, and a reluctance by the industry to address its problems.
So how can we, as individuals, protect our retirement nest egg? The key is to engage with the superannuation system, and not just as we approach retirement.
Compare your super fund’s fees and returns with those of the best performing funds, and then choose accordingly. Reduce your fees and insurance premiums by consolidating your accounts, and make sure that any insurance in the fund meets your needs.
<img src="https://counter.theconversation.com/content/97318/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">The difference at retirement is worth it – up to A$407,000 for a 21-year-old by the time they finish their career.
Helen Hodgson, Associate Professor, Curtin Law School and Curtin Business School, Curtin University
This article was originally published on <a href="http://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/superannuation-is-still-mired-in-the-same-old-issues-and-no-one-is-going-to-fix-your-nest-egg-but-you-97318">original article</a>.
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Superannuation is still mired in the same old issues, and no one is going to fix your nest egg but you

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Sydney’s residential vacancy rate "continues to support those seeking rental accommodation," according to the REINSW President Leanne Pilkington.
She based her interpretation on its on the March 2018 REINSW Vacancy Rate Survey seeing availability fall 0.1 percentage points to 2.2 per cent for the Sydney metropolitan area. 
“A vacancy rate above 2 per cent is positive for those seeking rental properties,” Ms Pilkington said, in an apparent shift on the historic sentiment that a market is considered to be evenly balance between renters and landlords at a 3 percent vacancy rate, with anything above 3 percent favouring renters.
Middle Sydney and Inner Sydney rose 0.1 percentage points to 2.6 per cent and 1.9 per cent respectively.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/16/vacancyrates.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/16/vacancyrates.jpg" alt="">
Outer Sydney, the vacancy rate remained steady.
In the Hunter, vacancy rates rose 0.1 percentage points to 1.6 per cent with Newcastle up 0.4 percentage points. The Illawarra also remained stable for the third month in a row with vacancy rates at 1.9 per cent. Wollongong was down 0.1 percentage points at 2.2 per cent. 
Across regional areas, Northern Rivers rose 0.2 percentage points at 1.2 per cent, Murrumbidgee increased 0.2 percentage points at 1.0, while New England dropped 0.9 percentage points at 1.9 per cent.
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REINSW says Sydney vacancy rate favours tenants 

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

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Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

Joel Robinson

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Staff reporter

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