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GUEST OBSERVER
People have been spending more in New South Wales in recent years, followed by Victoria, South Australia, Queensland and Western Australia, according to a new report. And while real household spending has climbed by 14% in NSW between 2009-10 and 2015-16, it only rose by 4% in WA over the same period.
While spending soared, the price of goods also rose over the same period. The consumer price index (CPI) in Sydney rose by 16.4% - again the highest among all capital cities - followed by Melbourne, Brisbane, Perth (15.1%), and Adelaide.
But the preceding six-year period tells a very different story. Between 2003-04 and 2009-10, growth in real household spending spiked at 25% in WA and Queensland, but other population centres experienced much slower spending growth.
These state and territory differences reflect the workings of a “two-speed economy”, where people’s spending levels are more sensitive to the ups and downs of the economic cycle in the resource-rich states of WA and Queensland.
The report compares prices and spending across Australian states and capital cities, drawing on a range of data sources.
<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/2017/12/8/chart1.jpg" alt="">
What drives cost of living in the most and least expensive cities?
There’s also similarly wide disparities in cost-of-living patterns across our major capital cities. Sydney ranks as the most expensive, followed by Melbourne, Brisbane, Adelaide and Perth.
Perth’s ranking jars against the popular perception that it is one of the most expensive cities in Australia.
Sydney’s ranking as the most expensive city is mainly driven by increases in housing and education costs, which have risen by 5.7% and 5%, respectively, between 1995 and 2017.
Housing makes up one-quarter of households’ spending – the dominant share. So it’s no wonder that rises in housing prices in Sydney are so keenly felt.
Price increases have been much slower in Perth relative to other capital cities, in the areas of food and non-alcoholic beverages, transport and communication. Growth in wages has outpaced the growth in prices of goods in WA, more than in any other state and territory over the past 15 years.
Financial stress acute for some in WA
While people in WA might be spending less, there are still segments of the population that are vulnerable to intense cost-of-living pressures.
It’s clear that households in severe financial hardship are having to divert increasing shares of their household budgets to meet housing needs and utility costs. We define households in severe financial hardship as those who have had to seek financial assistance from family, friends or welfare institutions and those that could not eat or heat due to money shortages in the last year. During 2015-16, these households diverted around 39% of their budget to housing alone. This was higher than the 25% typical WA household spend on housing.
In order to spend more on housing, households in severe financial hardship are cutting back on other discretionary spending. These households are trading off transport and health spending to meet housing needs.
We found the cutback on transport spending becomes more prominent over time. During 2015-16, the budget share that stressed households diverted towards transport was only 4%, compared with 11% for a typical WA household.
<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/2017/12/8/chart2.jpg" alt="">
Housing costs comprise an even bigger share for WA households seeking financial counselling (around half), than the broader group of households in severe financial hardship (39%). For households seeking financial counselling, the size of a mortgage is likely to be the reason they are in financial trouble.
WA households seeking financial counselling spend on average well over half (55%) of their weekly budget on housing alone (versus 44% spent by the renters). Housing costs are clearly the largest cost and biggest risk factor for financial hardship, well ahead of food (18%), transport (10%) and utilities (5.5%).
Households who sought financial counselling spend even less of their budget shares on health (3.6%) than the broad group of households in severe financial hardship (4%).
<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/2017/12/8/chart3.jpg" alt="">
Overall, the typical WA household has continued to fare reasonably well in recent years, with incomes rising much faster than living costs. Yet the same is clearly not true for vulnerable groups within our community.
Those on low incomes have struggled in recent years to keep up with the cost of living. The cost of housing has emerged as the greatest single living cost for most Australian households and the most critical factor in the risk of financial hardship, poverty and inequality within our community.
<img src="https://counter.theconversation.com/content/88168/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Policy makers need to tackle the vexed issue of housing affordability if they wish to have an impact on poverty and financial resilience and ensure fewer vulnerable members of our community are left behind.
Rachel Ong, Deputy Director, Bankwest Curtin Economics Centre, Curtin University.
Alan Duncan, Director, Bankwest Curtin Economics Centre and Bankwest Research Chair in Economic Policy, Curtin University.
Chris Twomey, Senior Industry Fellow, Curtin University.
Ken Leong, Researcher, Curtin University.
Silvia Salazar, Research fellow, Curtin University.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/sydney-the-most-expensive-capital-in-australia-perth-comes-in-fifth-new-report-88168" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Sydney the most expensive capital in Australia, Perth comes in fifth: new report

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GUEST OBSERVER
Australian governments have stepped into the market at critical times since the late 19th century to encourage and channel investment in affordable housing. With rising housing stress in Sydney, Melbourne and other areas, the Australian government has now done just that.
On Friday, Assistant Treasurer Michael Sukkar slipped into the National Housing Conference in Sydney to announce a government guarantee on investment in affordable housing.
The announcement went largely unreported, but it was significant. The guarantee is a crucial piece of the affordable housing policy architecture, complementing the “bond aggregator” (or intermediary) mechanism announced in the budget. Treasurer Scott Morrison and Treasury officials have been working on this intermediary, a National Housing Finance and Investment Corporation, over the past 18 months.
These combined measures should create an efficient private investment pathway into social and affordable housing for super funds, insurance companies and other entities hungry for low-risk returns.
The government’s Affordable Housing Working Group outlined this approach, drawing on a number of our reports commissioned through the Australian Housing and Urban Research Institute (AHURI). These assembled powerful evidence from a range of countries of the proven record of government-backed financial intermediaries and debt guarantees in affordable housing finance systems.
Judging from responses to the Treasury consultation paper, the guarantee enjoys strong industry and political support.
This development could also catalyse efforts to build a national housing accord backed by industry, civil society and welfare groups to expand affordable housing for the growing number of Australians in need. A campaign in support of this, Everybody’s Home, was foreshadowed at last week’s conference.
New model based on an old principle
A government guarantee to back bonds issued by the new NHFIC marks a welcome return to the Commonwealth’s former role of actively enabling investment in housing for low and moderate-income households. Historically, this involved reshaping circuits of investment to increase supply, improve quality, deliver better-planned suburbs, ensure returning soldiers were housed, broaden access to home ownership and provide security for households not served by a failing market.
The government support for investment will guarantee access to cost-effective private finance for community housing providers. It will be backed by a secure cash flow from rental income supported by Commonwealth Rent Assistance.
Affordable housing includes not only rental housing geared to income but also below-market-rate rental housing and home ownership. This offers a refuge for households unable to afford housing at market rates.
Coupled with dedicated public funding, the guarantee could turn what has been a trickle of short-term and costly bank debt into a hugely increased flow of longer-term and lower-risk investment.
Why invest in social housing?
Our AHURI-funded international research has found that long-term and patient capital makes an ideal partner for affordable rental housing. Instead of capital gains from sales, the steady cash flows from rent revenue offer secure returns. This is what makes it attractive to pension funds.
Combined with public co-investment and not-for-profit management, secure affordable housing outcomes are more assured.
This investment ultimately saves us all money. Too many Australian households are one step from homelessness, which is devastating for any family. The costs of homelessness to the nation are also huge.
But it’s not just a matter of cost. Homelessness is an affront to the Australian values of compassion and a fair go, often underestimated by political leaders.
Lessons from overseas are clear
The government’s re-engagement with efforts to boost affordable rental housing is in tune with moves in other similar countries.
Just last month Canada released its first national housing strategy, highlighting housing as a human right. The aim is to increase the supply of moderate rent and supportive housing by at least 100,000 homes over 11 years. A National Housing Co-investment Fund will provide A$16.5 billion to repair and expand the affordable housing stock.
Also last month, the UK government announced a new round of debt guarantees for “build to rent” development, alongside A$15.7 billion in direct investment and increased borrowing caps for social housing.
It is true the most effective affordable housing policy levers available to governments are land supply and direct public investment. This was the approach taken in early postwar Australia.
But since the 1990s Australian governments have shown no inclination to re-adopt this model. As an alternative, international best practice combines the most cost-effective long-term investment with strategic public investment in well-regulated not-for-profit landlords.
Finland offers an example. In a country one-fifth the size of Australia, 9,000 social housing dwellings are built each year. This is financed by low-cost government-guaranteed loans via a public intermediary, with interest subsidies and conditional grants to not-for-profit providers.
Finland has the lowest rate of homelessness in Europe. Young Finns leave their parental home and become independent earlier than anywhere else in the European Union. It’s a clever housing system, not based on the luck of the market or family fortune.
Now to tackle the public funding gap
Australian governments have long talked the talk of decent homes for all. But they have struggled to align policy on land development, property taxation and social security accordingly. Our political leaders have simply failed to reform our planning and tax systems to favour affordable housing.
The social housing investment guarantee represents an important return by the Commonwealth to leadership in housing policy and investment. It will bring in a large and willing industry super sector, delivering not only returns for policy holders but also real gains for society at large.
However, enabling more cost-effective private finance can narrow but not eliminate the shortfall in funding for social and affordable housing so that the books balance. As the government’s own advisory body made clear, this policy framework can realise its potential only when government commits the funding needed to bridge this gap.
Julie Lawson, Honorary Associate Professor, RMIT University.
Hal Pawson, Associate Director - City Futures - Urban Policy and Strategy, City Futures Research Centre, Housing Policy and Practice, UNSW.
Vivienne Milligan, Senior Visiting Fellow - City Futures Research Centre, Housing Policy and Practice, UNSW.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/government-guarantee-opens-investment-highway-to-affordable-housing-88549" target="_blank">original article</a>.
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Government guarantee opens investment highway to affordable housing: UNSW

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The Elizabeth Bay sub-penthouse that outgoing QBE Group chief executive John Neal called home has sold for $7.5 million.
Ray White Elizabeth Bay agent Ian Campbell sold the home to Eckhart and Celia Bischoff, who were on Wolseley Road, Point Piper.
The whole floor Belltrees apartment was officially in the name of Helen Neal, who now gives her address as an old rectory in Bures, Suffolk.
Spanning 255 square metres, the apartment last traded in 2012 for $6.3 million when it was bought from Philip Wolanksi's Denwol property group.
This article first appeared in The Sunday Telegraph.
 
 
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Outgoing QBE chief John Neal's Belltrees, Elizabeth Bay apartment abode sold

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GUEST OBSERVER
As councils across Australia strive to enhance their liveability, parklets are proving popular among city communities. A poll of 300-plus citizens gathered for the inaugural Perth City Summit in August found parklets are the street activation people would most like to see. But why are they so desirable?
San Francisco is central to the parklet story. In 2005, the design collective Rebar turned a parking space into a “park” for two hours as a comment on the use and control of public space in the city. This was followed in 2006 by the installation of more than 40 temporary parks for PARK(ing) Day, now an annual international event.
By 2010, San Francisco had introduced a policy to help create parklets. This has set an important precedent for parklet policies in Australia and internationally.
There are now more than 50 parklets across San Francisco. According to its Pavements to Parks program, these parklets have “appeared … under the sponsorship of nonprofits, small businesses, neighborhood groups, and others”.
This account conveys a strong sense of democracy and accessibility: anyone can install a parklet in their city, and apparently many do. The Deepistan National Parklet (aka “the Deeplet”), the parklet installed by Deep Jawa outside his home in the Mission District, is a celebrated example.
<a href="https://images.theconversation.com/files/197502/original/file-20171204-5381-1d3jxg5.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/197502/original/file-20171204-5381-1d3jxg5.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The Deepistan parklet is a celebrated example created by a community-minded individual. <a href="https://www.propertyobserver.com.au/https://www.flickr.com/photos/ari/9899826405" target="_blank">Steve Rhodes/flickr</a>, <a href="http://creativecommons.org/licenses/by-nc-nd/4.0/" target="_blank">CC BY-NC-ND</a>.
<a href="https://images.theconversation.com/files/197504/original/file-20171204-5392-1i6dzlc.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/197504/original/file-20171204-5392-1i6dzlc.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Source: <a href="https://www.flickr.com/photos/markhogan/6342797343/in/photolist-cSxoUj-oiLKhp-oiLJjn-oyepLE-oiLL5X-oC24uz-oAewcQ-oA4izh-g5Pxxr-g5PmK4-g5PJg9-g5PD1w-cw3iB5-cSxv7d-fik1aM-fAoeeo-cSxqz9-cSxtWW-ae8M3Y-cSxgAW-cSxuv7-cSxkXm-cSxuN5-dh1GEn-dh1GpD-cSxsjY-ayQJn6-cSxsVU-aEuuzV-ayQJjZ-ayQJpB-anPFwN-dpBGWK-aEuuET-as3qhq-arZMWp-dh1GxP-cEDKbu-aaVBBb-arZNr4-arZT1n-UTTLxW-dgSksz-dpBRLC-oAeuHC-ecFQx5-dpBHvp-dpBSn9-aBPZR9-arZNCK" target="_blank">Mark Hogan/flickr</a>, <a href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a> 
The neglected role of business
We hear much less about the businesses behind parklets. Cafes, bakeries, bars and pizza shops have installed almost all of the 50-plus parklets in San Francisco. Deepistan is exceptional not merely for its topiary dinosaur but for its non-commercial nature.
This is not surprising, since the proponent pays for installation and maintenance. And the costs are significant (typically these can be well over A$20,000).
The term “parklet” can be traced to San Francisco (it was coined by City planner Andres Power as a catchier name for Rebar’s proposed “walklet”). But there are many other precedents for the intervention itself.
<a href="https://images.theconversation.com/files/197505/original/file-20171204-5385-pc1w30.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/197505/original/file-20171204-5385-pc1w30.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Rebar’s temporary parklet in 2005, the first of many to show vividly how much space we set aside for private cars. Source: Author provided. 
Perhaps the most obvious, given the strong connection between parklets and cafes, is the long-standing use of footpaths and roadways as restaurant dining areas. The parklet outside Vans Cafe in Cottesloe, for example, was approved under an alfresco dining licence. Converting a parking space into a sitting space is hardly revolutionary.
Yet advocates of parklets rarely make this connection. The story of parklets as entirely new, stemming from Rebar’s DIY park, is far more appealing, suggesting a bottom-up, creative and democratic remaking of the public realm. The link to one of the world’s most innovation-rich cities doesn’t hurt, either.
The reluctance of planners and policymakers to connect parklets to business also reflects concerns about the commercialisation and commodification of the city. The problems of privately owned public spaces (“POPOs” – provided by large developers in exchange for variations to planning rules) are well documented, particularly the issues of high levels of management and surveillance.
Parklets, however, are not privately owned public spaces. Parklets are installed on public land, are temporary and cannot be controlled by the business that installed them. Each bears a sign proclaiming the public nature of the space. Anyone can use parklets, whether they buy something or not.
<img src="https://images.theconversation.com/files/197268/original/file-20171201-30919-17b8dbt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Parklets are only temporary structures paid for and built by the proposer. SDOT Photos/Flickr
One might critique parklets for their scale, their distribution or their use. They are tiny and do very little to meet important needs for play, exercise or engagement with nature. Some appear a little neglected; many are in areas that are already leafy.
<a href="https://images.theconversation.com/files/197506/original/file-20171204-5420-170vqza.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/197506/original/file-20171204-5420-170vqza.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
San Francisco’s Parklet Manual gives detailed instructions on creating a parklet. <a href="http://pavementtoparks.org/parklets/" target="_blank">City of San Francisco</a>
In San Francisco, some parklets have been rejected for fear they will contribute not to community empowerment but to gentrification.
Why so popular?
So how can we explain the popularity of the parklet? Perhaps because parklets support, and build off, the kinds of places people like – and these aren’t just green spaces.
As US urban activist and writer Jane Jacobs explained so powerfully, cities need more than parks and plazas: commercial activity is a crucial component of public life. Cafes are increasingly important sites for community interaction as other places for local exchange disappear, including banks, post offices, corner delis and newsagents, on top of the local hardware, haberdashery and other specialist shops lost to competition from larger retailers and the digital marketplace. Parklets present some hope for walkable, local commerce.
Or perhaps their popularity has more to do with the lack of options for public participation in shaping the city. Parklets may be led by businesses, but they are local businesses, sometimes supported with public or crowdsourced funds, and parklet policies mean that the spaces cannot be private. Opportunities for participation are often much greater than for the larger public spaces created by professionals. They also show vividly how much space we waste on private cars.
<a href="https://images.theconversation.com/files/197510/original/file-20171204-5406-10zff7z.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/197510/original/file-20171204-5406-10zff7z.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
North Perth’s Angove Street Off-cut Parklet, designed by NOMA. <a href="http://www.nomastudio.com.au/work/15-masterplanning/77-angove-street-offcut-parklet" target="_blank">NOMA</a>, Author provided.
After parklets, the second-most-desired street activation, according to the Perth City Summit poll, was “creative installations”, followed by street events and murals. In comparison, parklets offer a more tangible and accessible option.
Clearly, we can’t rely on businesses alone to provide adequate and appropriate public spaces. The role of local and state governments in providing a high-quality public realm continues to be important. But parklets show that businesses are not all seeking to play the system. As we think about public life, parklets might provide a useful model to build on.
Amelia Thorpe, Senior Lecturer and Director of Environmental Law Programs, UNSW.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/people-love-parklets-and-businesses-can-help-make-them-happen-87172" target="_blank">original article</a>.
Main photo: North Perth’s Angove Street Off-cut Parklet, designed by NOMA. <a href="http://www.nomastudio.com.au/work/15-masterplanning/77-angove-street-offcut-parklet" target="_blank">NOMA</a>, Author provided.
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People love parklets, and businesses can help make them happen: Amelia Thorpe

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Ballarat estate agency Gull and Company has been reprimanded and penalised $5,000 by the Victorian Civil and Administrative Tribunal (VCAT) for operating without a licence during 2015. 
The company operated without a licence between 27 August and 19 October of that year, during which time it carried out estate agent functions. 
In June and August of 2015, the Business Licencing Authority (BLA) emailed Gull and Company, reminding it to lodge its annual statement and pay the required fee, which the company did not do within the required time. As a result, Gull and Company’s licence was automatically cancelled. 
The company initially claimed that it had not received the second email, and was therefore not given sufficient notice of its annual statement and payment obligations, as required under the Estate Agents Act 1980. 
Prior to the VCAT hearing, Gull and Company arranged for a forensic examination of an old computer server, which showed that the company had received the second email.
As well as the penalty and reprimand, Gull and Company must also: 
<ul>
<li>advise vendors that it acted for while unlicensed that, among other things, it was not a licensed estate agent at the time </li>
<li>establish a system to ensure that it lodges its annual statements and pays the required fees on time. </li>
</ul>
Gull and Company applied to the BLA for a new licence, which was granted on 20 October 2015.  
The $5,000 penalty must be paid into the Victorian Property Fund. 
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Ballarat estate agency cops fine after licensing mixup

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The Olympic champion Ian Thorpe and his partner, Ryan Channing were among the throng last Saturday morning when a 1860s Paddington terrace was open for inspection.
There's a $2.5 million price guide on the three-bedroom, two-bathroom Gipps Street terrace which has been listed by the futures trader Richard Harvey and his wife, Theresa.
<a href="https://www.realestate.com.au/property-house-nsw-paddington-126917826" target="_blank">The Gipps Street property</a>, listed through Ray White agent Dean Jarman, last traded at $1,235,000 in 2011.
The terrace featured in a book, Paddington Stories, authored by local historians Andrew Starr and Janice Morice, as at one time it was a sly grog den.
It would be the first property acquisition as a couple should it be knocked down to them at its December 9 auction.
This article first appeared in The Daily Telegraph.
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Ian Thorpe among inspectees of Paddington terrace

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Wang Jianlin, the chairman of Chinese property group Dalian Wanda, plans to sell his majority stake in Wanda’s Hong Kong-listed arm to a privately held holding company fully owned by the business tycoon.
The proposed deal would mean the sale of Wang’s 3,055,043,100 shares or 65.04 per cent ownership stake in Wanda Hotel Development to Wanda Investment Holding Company (New Holdco) for HK$1.20 a share, or the equivalent in shares from New Holdco, the Financial Times reported citing a regulatory filing.
The two subsidiaries signed a legally non-binding letter of intent to complete the sale before January 31 of next year, the FT said.
Monday’s announcement is part of an ongoing asset reshuffling between Dalian’s remaining listed arm and Wanda’s unlisted holding companies. 
That reshuffle has decreased the overall transparency of the Wanda empire. 
Wanda Hotel Development has been transformed from a property developer to solely managing and designing Wanda’s tourism and hotel properties in an “asset light” approach the developer has taken to mitigate low property sales. 
The proposed sale could give Wang, the chairman, greater control over another piece of Dalian Wanda’s network of subsidiaries as he centralises assets under New Holdco and unlisted holding company Dalian Wanda Commercial Properties (DWCP). Mr Wang privatised DWCP last year. 
Dalian Wanda was one of the four Chinese companies regulators began probing this year for systemic financial risks after it embarked on an aggressive deal-making spree overseas. 
Wanda also sold its interest in its largest ski resort to a friendly company earlier this year, the FT reported.
The sale, uncovered by a search of corporate records, seems to be an effort by Wanda to rebuild its finances amid government pressure to rein in its dealmaking activities. 
Corporate registry information on the Changbaishan ski resort, in China’s north-west near the North Korean border, was changed in June to show that Dalian Yifang group holds 98.33 per cent of Changbaishan stock and Wanda is no longer on the shareholder list.
The price and the timing were not immediately available. 
Dalian Wanda declined to comment. 
Dalian Wanda have said from time to time they ascertain interest in its property projects. But they deny this week's report by the South China Morning Post that Wanda were offering to sell five of its biggest overseas properties in the UK, US and Australia.
In August the group had to come out and deny rumours they were selling their Gold Coast and Sydney projects, which comprise $2 billion of the $6.6 billion portfolio.
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Dalian Wanda chairman Wang plans to sell stake to self-owned holding company

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Former Foxtel boss Richard Freudenstein, who sits on the board of the realestate.com.au, has paid $3.35 million for the Palm Beach weekender.
It was bought from Jenny and Ross Parker of Parker Furniture who had commissioned Susan Rothwell to modernised the charming home.
LJ Hooker Palm Beach agent David Edwards sold <a href="https://www.realestate.com.au/sold/property-house-nsw-palm+beach-126506150" target="_blank">the home</a> which last traded for $320,000 in 1984.
This article first appeared in The Sunday Telegraph. 
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Parker Furniture family sell at Palm Beach after three decades

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The Hoyts boss Damian Keogh and wife, Maree, pocketed $3.9 million when their longtime Sutherland Shire family home went to auction last weekend.
They are downsizing to a four bedroom oceanfront apartment at Cronulla given all four of their children have now left school.
<a href="https://www.realestate.com.au/sold/property-house-nsw-lilli+pilli-126881274" target="_blank">The Lilli Pilli home</a>, purchased in 1997 for $800,000, had an extensive rebuild in 2002 making it five bedrooms plus study.
Listing agent Greg Gilbert had expectations in the high $3 millions. Bidding opened at $3 million with three parties competing. It was announced on the market at $3.7 million.
The home has views, palatial proportions, and functional family living, along with level lawns, and a basket ball pad. There's an in-ground pool and a cabana alfresco area on its double-width 1486 square metre block.
It was 2016 when they paid $2.85 million for the <a href="https://www.realestate.com.au/property-apartment-nsw-cronulla-121147990" target="_blank">beachfront Tiana apartment</a>.
Keogh retains a Quay West apartment in the Sydney CBD which he uses mid week while at work running the Hoyts Group.
Dubbed one of the best Australia's basketballers of all time, Keogh played over 400 games in the NBL and featured in three Olympic Games.
This article first appeared in The Sunday Telegraph. 
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Hoyts boss Damian Keogh secures Sutherland Shire sale at weekend auction

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Terry Blamey, the long time former manager of Aussie singing sensation Kylie Minogue, has bought a renovated Albert Park home.
Blamey, who managed Minogue for over 25 years, hasn't had to move far, having sold his classic Victorian a few doors down on Montague Street mid-year for $2 million.
He's upgraded to a $3.05 million more <a href="https://www.realestate.com.au/sold/property-house-vic-albert+park-125142458" target="_blank">modern Victorian residence</a>, though still with its classical façade (above and below).
The home has three bedrooms, two bathrooms and a rear courtyard.
<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/2017/12/6/Blamey2.jpg" alt="">
Greg Hocking Holdsworth sold the home that hadn't traded since it sold for $670,000 in 2005.
Blamey co-owned another Montague Street property but that was sold off in 2012 to his mate, music entrepreneur Michael Gudinski.
Blamey, who has been a music manager in 1966, was with Minogue at her first show in front of 38,000 people at the Tokyo Dome in 1989.
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Long-time Kylie Minogue manager Terry Blamey's Albert Park buy

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Joel Robinson

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Staff reporter

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