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This week, auction volumes are expected to remain somewhat steady on both a week-on week and year-on-year basis.
CoreLogic are currently tracking 1,190 auctions this week, while final results last week saw 1,154 auctions take place and one year ago 1,111 auctions were held.
In Melbourne, 275 homes are set to be auctioned this week, down on the 357 last week and the 500 last year.
There are 692 Sydney homes set to go under the hammer this week, increasing by over 20% on last week’s volumes (566) and almost double the number of auctions held over the same week last year (367).
Adelaide (46), Brisbane (109) and Canberra (51) all have a lower number of auctions scheduled over the week, while volumes are higher across Perth (17).
<img src="https://www.urban.com.au/images/2020/8/6/CL%20AUG%202.JPG" alt="">
Ray White Drummoyne’ Chris Wilkins is gearing up for a good result this weekend at the auction of 7 Burnell St, Drummoyne (pictured in title).
The newly built five bedroom Drummoyne mansion looks out towards Iron Cove and Rodd Island. 
“We have had 256 groups in just three weeks. There’s been massive interest from older families from across Sydney and we even have a couple of expat buyers looking to come home,” Mr Wilkins said.
<img src="https://f.datasrvr.com/f1/820/68483/Trafalgar_Ave,_Petersham.JPG" width="640" data-imagetype="External">
The two bedroom apartment at 4/347-349 Trafalgar St, Petersham (pictured above) is also set to fly on Saturday with Ray White NSW CEO Jason Andrew calling the auction.
The Petersham unit is being sold by Ray White Surry Hills | Alexandria | Glebe | Erskineville Associate Director Matthew Carvalho who has given out a price guide of $800,000 to $850,000.
“We’ve had a lot of interest in Petersham, it’s one of those popular inner west suburbs that is going through gentrification at the moment and attracting lots of young professionals and young families,” Carvalho said.
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j.ballantyne1990-6AQqhLzZaK

Sydney auction volumes again leaping ahead of Melbourne's Stage 4 slump

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Homestar Finance has claimed the title of the lowest fixed rate on the market for new home buyers and refinancers.
The new rate of 1.98 per cent is fixed for one year, reverting to an ongoing variable rate of 2.49 per cent. The rate requires borrowers to have a 20 per cent deposit and comes with upfront fees of $1,010.
RateCity.com.au analysis shows if an owner-occupier with a $400,000 home loan switched from the average existing owner-occupier rate of 3.28 per cent, to this new rate from Homestar Finance they could potentially save $3,796 in the first year, including refinancing costs, or $15,816 in the first five years. 
Sally Tindall, research director at RateCity.com.au, said today's rate cut would ignite further competition among the low-cost lenders in a bid to claim the title of Australia’s cheapest home loan.
“At 1.98 per cent, this is the lowest fixed rate available to everyday Australians, but it’s important to remember it only lasts for a year. That said, the revert rate is still significantly lower than the big four banks’ variable rates,” she said.
Despite no move to the cash rate, lenders are continuing to cut both fixed and variable rates. Just last week, loans.com.au launched a new lowest introductory variable rate of 1.99 per cent for one year.
“It’s starting to feel like the end of an auction where the competitors are edging each other on in small increments,” she said. 
“But they’re all playing ball, pushing each other below the two per cent barrier.
“We expect rates to keep nudging lower over the next few months as lenders try to capitalise on the current refinancing boom,” she said.
Lowest 1-year fixed rates on RateCity.com.au
<table class="x_x_x_MsoNormalTable" style="width: 337px;" border="0" cellspacing="0" cellpadding="0"><tbody>
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Lender
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Advertised rate
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Homestar Finance
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1.98%
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Greater Bank
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2.09%
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UBank
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2.14%
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Lowest 2-year fixed rates on RateCity.com.au
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Advertised rate
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Homestar Finance
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2.06%
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HSBC
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2.09%
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BCU
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2.12%
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Lowest 3-year fixed rates on RateCity.com.au
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Advertised rate
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UBank 
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2.14%
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BCU
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2.16%
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<td width="225">
Macquarie Bank, Westpac
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2.19%
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Home loans hit new record low of 1.98 per cent

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Residential prices continue to be holding through June 2020 in the Illawarra, according to the July Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 
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The report suggests there remains a relatively low amount of stock on the market which is driving a bit more competition amongst buyers.
 Realistically priced and conventional properties are selling within two months in most cases.
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"Ten years ago, $700,000 would have given you the pick of many properties throughout the Illawarra with only the more desirable areas out of reach, however strong price increases over the past decade have restricted a purchaser with $700,000 to spend," the valuation firm said. 
This is the approximate median house price in suburbs such as Figtree and Flinders, although townhouses or units can still be picked up for under $700,000 in suburbs such as Thirroul and Bulli and older houses can be purchased in Corrimal and Russell Vale.
There have been plenty of new units built in Wollongong over the past couple of years and $700,000 will pick up a decent quality two-bedroom unit with a bit of a view.
A two bedroom apartment in Wollongong CBD has recently been sold for $488,500. 
The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-wollongong-134021110" target="_blank">3/6 Market Place</a> home (pictured below) comes with sleek kitchen, two oversized bedrooms, and renovated bathroom. 
It is situated within close proximity to eateries and beach. 
<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/2020/8/3/wollongong%20cbd%20.jpg" alt="">
In high growth areas such as West Dapto (Horsley, Wongawilli and Kembla Grange) and Calderwood, a new four-bedroom house on a 450 square metre lot can be purchased for under $700,000, the report noted. 
A current listing is a four bedroom house in Horsley priced at $649,000.
The recently updated home at <a href="https://www.realestate.com.au/property-house-nsw-horsley-133293570" target="_blank">11 Lucas Drive </a>(pictured below) comprises four bedrooms,  living and dining spaces, two bathrooms, and gardens. 
It is situated close to schools, eateries, transport and Wollongong CBD.
<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/2020/8/3/horsley.jpg" alt="">
"We see mainly younger families or couples purchasing at this price point with second house buyers or downgraders often above this market. 
"Pandemic conditions have not brought any significant price decreases in our market, however there is still a decent level of uncertainty in the short to medium term as government stimulus packages and local and macro economies grapple with a recession." the valuation firm said. 
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What a lazy $700,000 can buy in Illawarra: HTW residential  

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GUEST OBSERVER
The announcement of stage 4 restrictions in Victoria marks a new, and depressing, stage in Australia’s response to COVID-19.<a href="https://theconversation.com/profiles/brendan-coates-154644"></a>
The new measures will close non-essential retailers and most <a href="https://theconversation.com/victorias-child-care-shutdown-is-a-hard-blow-for-working-mothers-143837">child-care centres</a> across Melbourne, and impose stringent controls on industries such as meatworks and construction. The Victorian government estimates the measures will stop a further <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-08-03/victoria-coronavirus-cases-up-429-more-businesses-forced-to-shut/12517344">250,000 workers</a> from travelling to work.
The Victorian economy will probably be <a href="https://theconversation.com/eradicating-the-covid-19-coronavirus-is-also-the-best-economic-strategy-136488">better off</a> with this sharper, hopefully shorter lockdown than persisting with Stage 3 restrictions for many months.
The federal government has taken the sensible step of announcing pandemic leave disaster payments of $1,500 for those Victorians that need to isolate for 14 days. But it will need to do more to help Victorian businesses and households make it safely to the other side.
Victoria was already struggling before stage 4
Even before Sunday’s announcement of Stage 4 restrictions, economic activity in Melbourne was back down to similar levels to the first shutdown. Movement around the city, as measured by the number of times people used Apple Maps to get directions, was about half its February level.
By comparison, in Perth (where the virus has been effectively suppressed) drivers were out and about a little more than in February. Sydney was more or less back to normal, with a slight dip at the end of July as people curtailed their movements a little. Across all three cities public transport use remains dramatically below its normal levels, with Melbourne much further away from normal than Sydney and especially Perth.
<img src="https://images.theconversation.com/files/350806/original/file-20200803-14-nshjlb.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Movement in three cities.
The number of jobs in Victoria was <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/allprimarymainfeatures/D90A6BA872BC19D7CA25854F008214D1?opendocument">7.3% lower</a> in mid-July than in mid-March, a deeper fall than any other state. In inner Melbourne, the number of jobs was down nearly 10% from mid-March levels. Eight of the ten federal electorates hardest-hit by job losses are now in Victoria. Without JobKeeper, the picture would be much worse.
<img src="https://images.theconversation.com/files/350808/original/file-20200803-16-18cxz7a.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Jobs in three states.
Under the new restrictions on workplaces in Melbourne, employment in construction, manufacturing and retail will plummet. These industries employ about 900,000 Victorians between them. Not all of these people will be thrown out of work, but many will.
JobKeeper and JobSeeker are needed even more
The federal government should reconsider <a href="https://theconversation.com/bowing-out-gracefully-how-theyll-wind-down-and-better-target-jobkeeper-143011">its plans</a> to begin winding back JobKeeper and JobSeeker payments after September. JobKeeper is set to fall from A$1,500 to A$1,200 for full-time workers, and to A$750 for part-timers. And JobSeeker falls from $1,215 to $815 a fortnight.
These income-support programs were absolutely necessary in March when Stage 3 restrictions were imposed. They are even more necessary now, as Stage 4 restrictions put an even tighter clamp on economic activity, stretching many businesses to breaking point and throwing more Victorians out of work.
The “<a href="https://theconversation.com/how-to-get-both-jobkeeper-and-jobseeker-143109">tapering</a>” of these support payments clearly cannot happen from late September, as currently scheduled.
By the end of September Victoria will hopefully be out of Stage 4 restrictions. But at best Melbourne will be back to Stage 3, the same level of restrictions for which the federal government to introduced the JobKeeper and the JobSeeker schemes.
The eligibility rules for JobKeeper should also be reconsidered.
Some businesses whose revenue did not fall enough to qualify for JobKeeper in March will now take a bigger hit. Other companies that qualified in March but saw a rebound in June will be excluded by the current rules from receiving JobKeeper beyond September.
The federal government COVID-19 <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-08-03/federal-government-to-create-disaster-payment-coronavirus-leave/12518580">“disaster payment” </a> should help address the crucial problem of those without paid leave entitlements being forced to choose between self-isolating and going to work to pay their bills. But the scheme is palliative rather than preventative, since it only applies in states once community transmission has ramped up to disaster levels.
Two-speed economy
The diverging fortunes of Victoria and the rest of Australia gives new meaning to the term “<a href="https://treasury.gov.au/sites/default/files/2019-03/02_Resources_boom.pdf">two-speed economy</a>”.
The federal government may be reluctant to do what’s needed just for one state, given the recovery is progressing elsewhere, but that would be a mistake. Victoria accounts for one quarter of the national economy. There is no “<a href="https://www.afr.com/politics/federal/victoria-to-help-foot-the-bill-in-state-of-disaster-20200802-p55hrl">moral hazard</a>” here. No state is going to allow thousands of its citizens to catch a deadly virus on the expectation the federal government will turn on the fiscal taps.
The federal government should waste no time wrangling over who pays the costs of getting through the crisis. Trying to split the bill with Victoria will take valuable time, and only concentrate costs on the state hardest hit by the crisis.
Last week the federal government finalised arrangements to borrow A$15 billion through <a href="https://theconversation.com/the-government-has-just-sold-15-billion-of-31-year-bonds-but-what-actually-is-a-bond-143598">issuing 31-year bonds</a>. These bonds have a fixed interest rate of 1.94%, below the bottom of the Reserve Bank’s inflation target band.
 
That means investors buying the bonds were willing to lend money to the federal government and most likely get back less, in inflation-adjusted terms, three decades from now. And investors were queuing up to buy them. In fact the government could have sold <a href="https://www.aofm.gov.au/program/forthcoming-transactions/pricing-new-june-2051-treasury-bond">A$37 billion worth</a>, rather than A$15 billion.
The federal government should use this ample fiscal firepower to ensure Victorians get through this crisis. Australia’s economy won’t recover unless Victoria does too.<img src="https://counter.theconversation.com/content/143840/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/brendan-coates-154644">Brendan Coates</a>, Program Director, Household Finances, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a> and <a href="https://theconversation.com/profiles/matthew-cowgill-729072">Matthew Cowgill</a>, Senior Associate, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/australia-wont-recover-unless-victoria-does-too-the-federal-government-must-step-up-143840">original article</a>.
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Australia won't recover unless Victoria does too

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GUEST OBSERVATION
Gone are the days when economic policy was adjusted once each year by the government in the budget and fine-tuned once each month at meetings of the Reserve Bank board.
The coroanvirus means we haven’t had a budget in <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/2020-21-budget-announcement">more than a year</a>. What the Reserve Bank has done to interest rates means its monthly board meetings matter less.
Governor Philip Lowe reaffirmed this week that monetary policy was <a href="https://www.rba.gov.au/speeches/2020/sp-gov-2020-07-21">on hold</a> for the foreseeable future. The bank’s cash rate is as low as it can go (actually well <a href="https://www.rba.gov.au/speeches/2020/images/sp-dg-2020-06-30-graph03.gif">below</a> its 0.25% target) and the bank will only intervene in the bond market if it has to in order to keep bond rates low (which it doesn’t — the demand for even the rush of new bond issues is <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-04-17/record-australian-government-bond-auction-coronavirus-covid-19/12158390">much bigger</a> than the supply).
It has lobbed the ball to Frydenberg’s side of the court.
The only situation in which it might be brought back into play is if the government ran into funding problems, of which there is no sign whatsoever.
Holding the racket
The treasurer’s problem is sequencing, and we will are likely to get hints on how he’ll play it in the <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/update-economic-and-fiscal-outlook">economic statement</a> to be released today.
The first challenge was to limit the damage to the economy from the initial shock near the start of the year — to stop a vicious cycle of weaker spending, plummeting investment and soaring unemployment.
These self-reinforcing crises required a circuit breaker.
The emergency stimulus provided through Jobkeeper and Jobseeker has been a great success at putting a floor under incomes and demand.
The government ensured a basic income for people whose jobs were axed or at risk, kept hundreds of thousands attached to their jobs and bolstered household incomes despite a massive loss of activity. It gets a tick.
But these emergency measures will not get the economy going again once the crisis has eased.
Some argue they will stand in the way of a recovery if they keep people ensconced on benefits or attached to firms without futures.
A tricky transition
Phase two will require genuine fiscal stimulus: not a security blanket of the kind we have had, but a direct injection of money that will spark a new wave of investment and employment.
The trick is to sequence it properly.
The announced tapering of <a href="https://theconversation.com/bowing-out-gracefully-how-theyll-wind-down-and-better-target-jobkeeper-143011">JobKeeper</a> and <a href="https://theconversation.com/how-to-get-both-jobkeeper-and-jobseeker-143109">JobSeeker</a> will cut incomes and cut jobs as firms pay people less and realign staff levels in line with lower subsidies.
The government believes it has got it right, but it is forecasting an 80% drop in JobKeeper payments between September and the end of the year. It might not be a <a href="https://theconversation.com/whatll-happen-when-the-moneys-snatched-back-our-looming-coronavirus-support-cliff-138527">cliff</a> but it is still a very steep slope that will need to be matched by a sharp recovery in economic activity.
It needs to be ready to revise the timetable as needed. Its current projections look like a best case scenario.
An unknowable stage two
The second stage will involve a good deal of spending on infrastructure. But, especially without certainty about immigration, it is hard to tell what will be needed.
The pandemic will have changed the way we work and play. It is not yet clear whether people take advantage of remote working and move out of congested cities. it is not yet clear what it will mean for digital health, digital education and digital shopping.
An even-harder stage three
The final stage will involve structural reforms; alterations to tax settings, regulations and industrial relations. Which is where it gets really hard. It will require not only sequencing but getting agreement across the political divide.
No civil society can base its economic and social structures on the mere desire for efficiency. Fairness and social justice matter just as much, and they can best be guaranteed if the measures are pulled together as a package with trade-offs that protect the values that matter to Australians.
That’ll be Frydenberg’s biggest challenge. The future doesn’t need to be rushed out this week, or in the October Budget, but in the months to come it’ll have to take shape.
 
<a href="https://theconversation.com/profiles/warren-hogan-530397">Warren Hogan</a>, Industry Professor, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/frydenbergs-three-stage-economic-recovery-is-abominably-hard-to-get-right-142841">original article</a>.
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Frydenberg's three-stage economic recovery is abominably hard to get right

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GUEST OBSERVER
What do <a href="https://bicyclensw.org.au/wp-content/uploads/2020/05/966-0320-Summary-of-Principles-for-Good-Bike-Infrastructure-070520.pdf">bike paths</a> and <a href="https://theconversation.com/city-temperatures-and-city-economics-a-hidden-relationship-between-sun-and-wind-and-profits-116064">walk-friendly streets</a> have to do with economic recovery from a pandemic-induced <a href="https://theconversation.com/how-will-the-coronavirus-recession-compare-with-the-worst-in-australias-history-136379">recession</a>? How could removing a car parking space <a href="https://www.bloomberg.com/news/articles/2015-03-13/every-study-ever-conducted-on-the-impact-converting-street-parking-into-bike-lanes-has-on-businesses">benefit a local business</a>? Instead of considering such questions, <a href="https://doi.org/10.1016/j.erss.2020.101486">building roads for cars</a> is often seen as the obvious answer to “kick-start” the economy.
In this article, we explain how cycling and walking infrastructure is a better investment for recovery. Every kilometre walked or cycled has an <a href="https://doi.org/10.1016/j.tranpol.2008.11.001">economic</a> <a href="https://www.atap.gov.au/mode-specific-guidance/active-travel/5-estimation-of-benefits">benefit</a> by reducing traffic congestion and vehicle operating costs, improving health and the environment, and saving on infrastructure spending. It’s <a href="https://www.euro.who.int/en/health-topics/disease-prevention/physical-activity/publications/2008/economic-analyses-of-transport-infrastructure-and-policies-including-health-effects-related-to-cycling-and-walking-a-systematic-review">estimated</a> every dollar invested in cycling infrastructure may reap up to five dollars’ worth of benefits.
In Australia, however, walking and cycling only receive between <a href="https://bicyclensw.org.au/lagging-behind-the-pack-correction/">0.1%</a> and <a href="https://theconversation.com/cycling-and-walking-are-short-changed-when-it-comes-to-transport-funding-in-australia-92574">2%</a> of transport budgets.
A sustained lack of investment is one reason only <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mediareleasesbyReleaseDate/7DD5DC715B608612CA2581BF001F8404?OpenDocument">5% of trips to work</a> in Australia are by foot or bicycle. Yet the majority of city journeys are <a href="https://www.vichealth.vic.gov.au/-/media/ProgramsandProjects/PlanningHealthyEnvironments/Attachments/vhtransch3.pdf?la=en&amp;hash=BD49C15BA932B97CF11275C5EE7CEA85A17176F3">short enough to walk or cycle</a> for most people.
With <a href="https://theconversation.com/cars-rule-as-coronavirus-shakes-up-travel-trends-in-our-cities-142175">people now shunning public transport</a>, our roads are becoming even more congested. In a win-win scenario, walk-friendly and bike-friendly <a href="https://healthyactivebydesign.com.au/design-features/movement-networks">design</a> can improve driving conditions, because fewer vehicles clog the roads. So instead of just building roads, is now not the time also to invest in <a href="https://healthyactivebydesign.com.au/design-features/movement-networks">proper</a> walking and cycling infrastructure?
 
Road building versus path building
Road building is typically <a href="https://doi.org/10.1016/j.erss.2020.101486">depoliticised</a> and so is widely <a href="https://doi.org/10.1016/j.erss.2020.101486">seen as a legitimate way</a> to stimulate economic growth. But simply building more roads may not reduce traffic or speed up journey times in the long term.
Road building leads to more traffic through <a href="https://theconversation.com/do-more-roads-really-mean-less-congestion-for-commuters-39508">induced car use</a> and <a href="https://doi.org/10.1016/j.erss.2020.101486">car dependence</a>. If the default option for short journeys is driving, <a href="https://theconversation.com/rethinking-traffic-congestion-to-make-our-cities-more-like-the-places-we-want-them-to-be-111614">congestion ultimately gets worse</a> as the population grows.
Australians make <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mediareleasesbyreleasedate/7DD5DC715B608612CA2581BF001F8404?OpenDocument">three-quarters</a> of all trips to work by car. Most have no passengers.
Yet more than half of car journeys in cities are <a href="https://www.vichealth.vic.gov.au/-/media/ProgramsandProjects/PlanningHealthyEnvironments/Attachments/vhtransch3.pdf?la=en&amp;hash=BD49C15BA932B97CF11275C5EE7CEA85A17176F3">shorter than 5km</a>. These trips would be <a href="https://www.atap.gov.au/mode-specific-guidance/active-travel/5-estimation-of-benefits">well suited to walking and cycling</a>. <a href="https://healthyactivebydesign.com.au/design-features/movement-networks">Safe and enticing</a> walkable streets and cycling paths are key to inducing this swap.
Australia has already committed billions of dollars to <a href="https://www.smh.com.au/national/nsw/first-look-inside-sydney-s-3-billion-northconnex-tunnel-20200622-p554zh">road-building</a> projects as well as community infrastructure to “<a href="https://www.facebook.com/watch/live/?v=301290454378292&amp;ref=watch_permalink">grow out of the COVID-19 recession</a>”. Ultimately, though, if we want less traffic, we need to invest more of this money in walkable streetscapes and safe separated bike paths.
This investment will increase walking and cycling, leading to the many benefits that flow from these behaviours. And enticing people out of their <a href="https://theconversation.com/to-get-people-out-of-cars-we-need-to-know-why-they-drive-27279">comfy cars</a> for short journeys will result in fewer trips by car.
 
What transport budgets tell us
Comparing Australian budgets to other countries’ investment in active transport modes, we’re not doing well. Budgets would have to increase at least tenfold to achieve the United Nations recommendation that <a href="https://europa.eu/capacity4dev/file/31600/download?token=jJbDKsE3">20% of the transport budget</a> be invested in “non-motorised transport”.
And many countries have moved rapidly to commit major investments to cycling and walking since COVID-19. For example, <a href="https://static.rasset.ie/documents/news/2020/06/draft-programme-for-govt.pdf">Ireland</a> recently committed <a href="https://www.forbes.com/sites/carltonreid/2020/06/15/former-bike-shop-owner-soon-to-be-irelands-prime-minister-secures-1-million-a-day-for-5-years-boost-for-walking-and-cycling/#bd04c8a5c012">billions of euros</a> to walking and cycling infrastructure, equivalent to 20% of its transport budget.
Considering our lack of investment, it’s easy to see why Australia is car-dependent. This is despite Australia having both great <a href="https://www.sciencedirect.com/science/article/pii/S0966692314001951">weather</a> and <a href="https://bicyclensw.org.au/big-country-wider-car-lanes/">wide roads</a> to accommodate increased space for cycling and walking.
An equity issue
<a href="https://profile.id.com.au/australia/car-ownership">Many</a> Australians, for reasons of disadvantage, disability or age, may not have access to a car. The typical cost of owning a car is <a href="https://www.savings.com.au/car-loans/ongoing-car-costs">A$300 per week</a>. Increasing spending on walking and cycling infrastructure will therefore improve equity by helping low-income earners and others who need inexpensive mobility.
Poor active transport infrastructure disproportionately disadvantages women. They cycle less than men and report a need for the safety of separated cycleways among other infrastructure.
Poor infrastructure also <a href="https://aifs.gov.au/cfca/publications/relationship-between-transport-and-disadvantage-austr">limits</a> children, older adults and people living with a disability from accessing the services they need. Many older Australians depend on public transport and on the quality of the walking environment around their homes and their most common destinations.
On average, <a href="https://www.budgetdirect.com.au/car-insurance/research/car-accident-statistics">three people a day die</a> on Australian roads. Fewer car trips would help reduce the road toll. Similarly, increased investments in separated spaces for cycling and walking, as well as lower speeds on local streets, will reduce collisions between cars and bikes, as well as pedestrian-motorist conflicts.
COVID-19 provides a unique opportunity
COVID-19 has led to a <a href="https://www.theguardian.com/lifeandstyle/2020/apr/22/bicycles-are-the-new-toilet-paper-bike-sales-boom-as-coronavirus-lockdown-residents-crave-exercise">boom</a> in bicycle sales, <a href="https://t.co/uzUch4mVEH?amp=1">reduced</a> speed limits, wider footpaths, <a href="https://www.transport.nsw.gov.au/news-and-events/media-releases/new-pop-up-cycleways-to-help-us-get-back-to-work-and-school">pop-up</a> bicycle <a href="https://www.theage.com.au/national/victoria/car-parks-out-footpaths-and-cycling-lanes-in-as-city-prepares-for-post-covid-commuters-20200507-p54qrp">lanes</a>, increased walking and <a href="https://doi.org/10.32866/001c.13405">new cyclists</a>. Some of this has come about following <a href="https://www.newcastleherald.com.au/story/6736341/why-city-needs-to-be-put-on-a-road-diet/?cs=4464">calls</a> <a href="https://drive.google.com/file/d/1-dBhS2mhOX6y8aH6MWYfg1J483Bz8o8j/view">for</a> “<a href="https://www.spaceforhealth.org/">Space For Health</a>”.
We should “<a href="https://www.facebook.com/watch/live/?v=301290454378292&amp;ref=watch_permalink">grow out of the COVID-19 recession</a>” by building back better through investment to sustain this increase in walking and cycling. Our call to action is therefore:
<img src="https://images.theconversation.com/files/347548/original/file-20200715-27-3i49wz.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="A call to action for COVID-19 Walking and Cycling Infrastructure Investment"> 
While Australia’s cities have invested in walking and cycling during the COVID-19 pandemic, it’s less than some <a href="https://www.forbes.com/sites/carltonreid/2020/02/10/prime-minister-boris-johnson-pledges-5-billion-in-new-cash-for-buses-and-bicycle-infrastructure/#8b1ff706df6f">other</a> countries have invested. For example, Paris has accelerated the installation of <a href="https://www.forbes.com/sites/carltonreid/2020/04/22/paris-to-create-650-kilometers-of-pop-up-corona-cycleways-for-post-lockdown-travel/#13d8daa654d4">650km</a> of cycleways by removing <a href="https://www.forbes.com/sites/carltonreid/2020/04/22/paris-to-create-650-kilometers-of-pop-up-corona-cycleways-for-post-lockdown-travel/#13d8daa654d4">72% of its on-street parking</a>. Scotland is proposing to “<a href="https://www.livingstreets.org.uk/media/5413/walk-back-better-national-walking-strategy-delivery-forum-statement.pdf">Walk Back Better</a>” from COVID-19
It is good to see investment in Australian cities increasing. But now is the time to help kick-start our COVID-19 recovery by investing more in walking and cycling, and to reap the many benefits for the Australian community.<img src="https://counter.theconversation.com/content/142176/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/matthew-mclaughlin-346591">Matthew Mclaughlin</a>, PhD Candidate, School of Medicine and Public Health, <a href="https://theconversation.com/institutions/university-of-newcastle-1060">University of Newcastle</a> and <a href="https://theconversation.com/profiles/trevor-shilton-306978">Trevor Shilton</a>, Adjunct Professor, School of Public Health, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/cycling-and-walking-can-help-drive-australias-recovery-but-not-with-less-than-2-of-transport-budgets-142176">original article</a>.
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Cycling and walking can help drive Australia's recovery

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GUEST OBSERVER
We’ve heard a lot about what the present crisis will do to <a href="https://propertyupdate.com.au/coronavirus-how-will-it-impact-australias-property-markets/">home</a> <a href="https://www.theguardian.com/australia-news/2020/mar/16/how-will-coronavirus-affect-australias-real-estate-market-and-house-prices">prices</a>, less about what it will do to <a href="https://www.commercialrealestate.com.au/news/office-property-now-in-covid-19-firing-line-969479/">commercial property</a> prices.
Commercial properties include office buildings, shopping centres, hotels and warehouses.
They account for <a href="https://www.superannuation.asn.au/ArticleDocuments/269/SuperStats-Jun2020.pdf.aspx?Embed=Y">8%</a> of the assets of Australian super funds.
<a href="https://images.theconversation.com/files/351238/original/file-20200805-237-3qmk3f.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/351238/original/file-20200805-237-3qmk3f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Melbourne’s Wesley Place commercial precinct is owned by a property trust.
If their values drop (and they are falling) it will affect all of us, especially those about to retire or already retired.
Until COVID-19, commercial properties were widely regarded as safe investments. They offered both reliable income streams and capital gains as population growth increased the value of scarce real estate.
With the return on government bonds falling <a href="https://theconversation.com/the-government-has-just-sold-15-billion-of-31-year-bonds-but-what-actually-is-a-bond-143598">below 1%</a> they ought to be becoming more attractive, but offices are empty, their future uncertain, high end shopping centres are receiving less traffic, and hotels have entire floors unused.
<a href="https://images.theconversation.com/files/351240/original/file-20200805-24-17539g9.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/351240/original/file-20200805-24-17539g9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
In July the number of mobile phones active in Sydney’s central business district was down <a href="https://www.roymorgan.com/findings/8486-roy-morgan-ubermedia-covid-19-movement-sydney-june-27-2020-202008040143">52%</a> on January and February. In Melbourne’s CBD, before the stage 4 lockdown, mobile phone traffic was down <a href="https://www.roymorgan.com/findings/8476-roy-morgan-ubermedia-covid-19-movement-melbourne-july-28-2020-202007270623">65%</a>.
<a href="https://www.smh.com.au/business/companies/data-centres-in-hot-demand-with-remote-working-on-the-rise-20200804-p55ih6">Data centres</a> are among the few commercial property bright spots – we are moving more data – along with distribution centres and <a href="https://www.smh.com.au/business/companies/neighbourhood-malls-flourish-as-shoppers-stay-local-20200723-p55eto">regional shopping centres</a> – we are shopping online and closer to home.
Over the course of the year the values of commercial property trusts listed on the Australian Securities Exchange have slid <a href="https://www.asx.com.au/asx/share-price-research/company/DXS">29%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/GPT">32%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/MGR">34%</a>,<a href="https://www.asx.com.au/asx/share-price-research/company/SCG">48%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/VCX#company-top">52%</a>, and <a href="https://www.asx.com.au/asx/share-price-research/company/URW">69%</a>.
<a href="https://images.theconversation.com/files/351242/original/file-20200805-24-p5j3b2.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/351242/original/file-20200805-24-p5j3b2.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Share price of GPT Group. GPT owns and manages retail, office and logistics properties. 
For super funds with 8% of their assets in commercial property, a decline of 25% in values knocks 2% off their assets — A$54 billion across the industry as a whole.
In the only other big downturn since the advent of Australia’s superannuation system, the global financial crisis, commercial property offered the funds stability while shares were volatile.
Not so this time. The value of the commercial property is diving along with the stock market with just as uncertain a future.<img src="https://counter.theconversation.com/content/143824/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/theodore-connell-variy-1142418">Theodore Connell-Variy</a>, Lecturer, School of Property, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> and <a href="https://theconversation.com/profiles/tony-mcgough-1142730">Tony McGough</a>, Senior Lecturer, Property, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/warning-what-covid-is-doing-to-commercial-property-it-is-about-to-do-to-super-funds-143824">original article</a>.
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What COVID is doing to commercial property it is about to do to super funds

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The Reserve Bank of Australia has released a new report titled The Apartment Shortage which identifies costs created by the NSW planning system.
It outlines the resultant shortages in supply driving up prices and has been accepted by experts such as Urban Taskforce CEO, Tom Forrest.
The RBA found that the excessive planning restrictions associated with delivering apartments in inner Sydney were disproportionately high.
By comparing the planning regulation cost of bringing a new home to completion in NSW with other jurisdictions, it highlighted the need for significant reform to planning regulation in NSW.
<img src="https://www.urban.com.au/images/2020/8/6/Apt%20Shortage%201.JPG" alt="">
The Apartment Shortage Report found home buyers will pay an average of $873,000 for a new apartment in Sydney, even though it only costs $519,000 to supply, a gap of $355,000 (68 per cent of costs).
This compares with smaller gaps of $97,000 (20 per cent of costs) in Melbourne and only $10,000 (2 per cent of costs) in Brisbane.
Significantly, the report concluded that "the gap between the supply cost and the delivery to market cost was sustained by planning restrictions and planning risk."
Click <a href="https://www.propertyobserver.com.au/images/2020/8/6/Apt%20Shortage%202.JPG" target="_blank">here to enlarge</a>:
<img src="https://www.urban.com.au/images/2020/8/6/Apt%20Shortage%202.JPG" alt="">
Mr Forrest said, "the additional costs are due to the excessive time taken to obtain approvals in the NSW planning system and the high degree of risk associated with approvals, despite the strong demand for new apartments."
"Given the economic shock created by COVID-19, the RBA's independent confirmation of the excessive costs associated with the NSW planning system presents an opportunity for the NSW Government to cut housing prices by approving more supply and allowing for more height."
"The fact remains that the planning system had slowed the planning approval process even before COVID-19 hit. Planning approvals, particularly for apartments, have now fallen off a cliff."
"This important piece of independent research cannot be ignored by policy makers in NSW", Mr Forrest concluded.
Many projects have also been derailed as confidence sinks and by delivery difficulties, most notably in Melbourne where work sites have been hit by tough restrictions.
You can read the full RBA report <a href="https://www.rba.gov.au/publications/rdp/2020/pdf/rdp2020-04.pdf" target="_blank">here.</a>
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New RBA report finds NSW planning has caused apartment shortage

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Victorian Premier Dan Andrews announced restrictions today as part of a Stage 4 lockdown.
Changes affecting the real estate industry include those to the construction sector which will move to pilot light levels. 
For major construction sites that means no more than 25 per cent of the normal workforce onsite.
Small-scale construction will be limited to a maximum of five people onsite.
He said, "To date, we've almost halved the number of people onsite on some of our biggest Government projects. Now we're going to go through project by project, line by line to make sure they are reduced to the practical minimum number of workers."
These workplaces that are continuing to operate will also have additional requirements including extra PPE, staggering shifts, staggering breaks, health declarations and more support for sick workers to ensure they stay home.
Melbourne’s property market will be able to continue to operate under tough, new stage four restrictions.
And property sales in major regional cities such as Geelong and Ballarat will face a similar market to Melbourne, with stage three restrictions to be introduced across the rest of the state from Wednesday.
Under both stage three and four restrictions, only one-on-one private inspections and online auctions will be able to go ahead, allowing buying and selling to continue.
"First, supermarkets, grocery stores, bottle shops, pharmacies, petrol stations, banks, newsagencies, post offices — plus everyone involved in our frontline response — will continue to operate."
"Second, Industries where onsite operations will have to cease for the next six weeks including retail, some manufacturing and administration. These businesses will all need to close by 11:59pm Wednesday 5 August, unless they have specific circumstances that mean they need longer to shutdown safely."
"The third and final list is made up of industries that are permitted to operate — but under significantly different conditions."
"For those businesses that suffer significant losses or need to close as a result of the current restrictions, we will provide support through our expanded Business Support Fund," he added.
Businesses in regional Victoria can apply for a $5,000 grant while those in Melbourne and Mitchell Shire can apply for up to $10,000 in recognition of spending longer under restrictions.
Under the recent Stage 3 restrictions it was announced real estate inspections will be by appointment only and auctions will be conducted remotely.
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Construction industry moves to 'pilot light' status under Stage 4 restrictions

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A four bedroom apartment in Brisbane's New Farm with city views has been sold for $4.81 million. 
The fifth level apartment at <a href="https://www.realestate.com.au/sold/property-apartment-qld-new+farm-133864838" target="_blank">3511/30 Hollins Street </a>was renovated in 2018. 
It comprises master bedroom suite, three additional bedrooms, designer gourmet kitchen, theatre room and multiple balconies. 
The 294sqm apartment overlooks the iconic Refinery Building and the Brisbane River. 
It is located within a short walk to Powerhouse Theatre, New Farm Park and the village. 
Brett Greenshill and Andrea Crossan of McGrath Estate Agents New Farm had the listing. 
The property was last sold in 2005 for $3.1 million. 
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New Farm apartment with city views sold for $4.8 million

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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