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Despite a classically miserable March day, Sydney recorded its strongest preliminary auction clearance rate of the year to date on Saturday, according to Domain, at above 82 percent. 
Even if the final clearance rate is revised down a bit, it's clearly a very high result on higher listings, with some big results in the inner suburbs. 
Two of the last four weekends have seen phenomenally high median auction prices, with this weekend's $1,355,000 a little below the record $1,420,000 set four weeks ago but 14 percent higher than a year ago.
On a rolling monthly basis auction prices hit their highest ever level on Saturday.
The Sydney market had clearly lost momentum in the face of macroprudential measures implemented in 2015, but was reinvigorated by two interest rate cuts in May and August 2016.
Melbournites returned from the break with a 78 per cent preliminary clearance rate according to Domain.
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Sydney property market sell off 

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Vivid Sydney's director of light, Anthony Bastic has moved to the inner city from the east.
He's spent $1.95 million on an apartment in the coveted Republic II building in Darlinghurst having sold his Randwick home.
The completely rebuilt two bedroom, two bathroom apartment on the north east corner comprises 132 sqm space and 20 sqm of parking.
BresicWhitney Darlinghurst agent Nic Krasnostein said the Republic II was designed to channel 'Palm Springs circa 1964'.
Bastic has been Randwick based since 2015 when he paid $1.51 for the William Street home. It fetched $1.8 million at its recent auction.
There was a buyers guide of $1.7 million for the two bedroom home, also sold through Nic Krasnostein with help from Nick Gill.
The home on 196 sqm has an eat-in garden kitchen and a timber entertaining deck that overlooks the lawn.
Anthony is the principal and creative director of AGB Events, who have worked on Vivid Light Sydney which is set to again light up Sydney later this month.
Before establishing the company, Anthony worked for the Sydney Opera House, the Sydney 2000 Olympic Live Sites and the 2003 Rugby World Cup.
Basic has also illuminated the Boston Public Library in Copley Square with 3D digital animation over the Christmas holiday season.
Last year AGB Events launched Parrtjima: A Festival in Light, a new light festival in the Northern Territory to illuminate the Aboriginal culture, billed as the world's first Indigenous festival of light as well as Australia's largest light installation.
 
 
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Vivid's Anthony Bastic buys in Darlinghurst

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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.
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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.
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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. 
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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 

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

Staff reporter

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