j.ballantyne1990-6AQqhLzZaK

Property markets and financial stability: RBA's Jonathan Kearns speech

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<p>Historic Ravenswood Run Homestead – considered the birthplace of Bendigo – is for sale. The property offers 23 bedrooms and 18 bathrooms.</p>
<p>The 14-hectare estate, which once had its own train station, <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-ravenswood-502589790" target="_blank">has $3.6 million plus hopes</a>.</p>
<p>Ravenswood Homestead was built in the late 1850s on the former sheep station known as the Mount Alexander North Run, which covered about 47,753 hectares.</p>
<p>It was around Bendigo’s first gold find.</p>
<p><img class="size-full wp-image-47302 aligncenter" src="https://www.commercialrealestate.com.au/news/wp-content/uploads/2017/10/ravenswood1.jpg" alt="The property has been operating as guest accommodation since the 1980s. Photo: Supplied" width="797" height="596"></p>
<p>The pre-Georgian property first began operating as guest accommodation in the 1980s.</p>
<p>The estate at 4912 Calder Highway includes eight servant’s quarters, a dining room capable of seating 48, a breakfast room, cellar and gym.</p>
<p><img class="size-full wp-image-47305 aligncenter" src="https://www.commercialrealestate.com.au/news/wp-content/uploads/2017/10/ravenswood4.jpg" alt="The dining room can sit up to 48. Photo: Supplied" width="802" height="532"></p>
<p>It is being sold with a redevelopment permit through McKean McGregor Real Estate’s Nick Hall.</p>
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Ravenswood Run Homestead, birthplace of Bendigo, up for sale

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<p class="p1">A three-bedroom duplex unit at Tweed Heads is on auction after the mortgagee took possession.</p>
<p class="p2">The architecturally designed home at <a href="https://www.realestate.com.au/property-duplex+semi+detached-nsw-tweed+heads-126964178" target="_blank">1/27 Charles Street</a> offers a touch of luxury and has ocean views.</p>
<p class="p2">Access to the living areas on the top level of this home is via lift from the ground floor garage, or there is glass encased timber stairs.</p>
<p class="p2">The home has uninterrupted views spanning from Kingscliff through to Coolangatta.</p>
<p class="p2">According to <a href="https://www.auhouseprices.com/auction/result/NSW/35251164/1-27+Charles+St%2C+Tweed+Heads+NSW+2485/" target="_blank">AU House Prices</a> website, the unit was passed in earlier at a listed price of $970,000.</p>
<p class="p2">The listing agent is Jason Abbott of PRDnationwide.</p>
<p class="p2"><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/2017/11/15/TweedHeadsMortgagee2.jpg" alt=""></p>
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Tweed Heads property listed for auction by mortgagee

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<div>All mainland capital city auction clearance rates have eased to below 70 percent under the weight of heightened spring listings coinciding with banking lending hesitancy.</div>
<div> </div>
<div>Melbourne still ranks as the strongest market, but at a 69.6 percent weekend success rate. The same time last year Melbourne's vendors were securing a 79 percent success rate under the hammer.</div>
<div> </div>
<div>A Toorak home was among the many passed in offerings around the country when bidding stopped at $12.2 million. They had wanted $14.5 million plus for <a href="https://www.realestate.com.au/property-house-vic-toorak-126766574" target="_blank" rel="noopener noreferrer">the 1930s bungalow on its 1700 sqm Russell Street parcel</a> which sold at $9.28 million in 2015.</div>
<div> </div>
<div>Another Toorak house was passed in on a $6.5 million vendor bid.</div>
<div> </div>
<div>Melbourne's top result was a $4.125 million sale in Canterbury, a Stonehaven designed and built split-level contemporary residence.</div>
<div> </div>
<div>The price guidance on <a href="https://www.realestate.com.au/sold/property-house-vic-canterbury-126754338" target="_blank" rel="noopener noreferrer">23 Maling Road</a> (picture above) had been $3.9 million to $4.29 million.</div>
<div> </div>
<div>Tasmania was the surprise performer.</div>
<div> </div>
<div>Tasmania's busy weekend saw seven auction results reported, returning a preliminary clearance rate of 85.7 per cent.</div>
<div> </div>
<div>A ground floor executive apartment at George Town in regional Tasmania fetched $3.125 million. It was <a href="https://www.realestate.com.au/property-apartment-tas-george+town-126586574" target="_blank" rel="noopener noreferrer">a three bedroom 175 sqm apartment</a> on the Tamar on the north coast of Tasmania.</div>
<div> </div>
<div>The results also included a <a href="https://www.realestate.com.au/sold/property-house-tas-west+moonah-126730774" target="_blank" rel="noopener noreferrer">three bedroom 1959 weatherboard house at West Moonah</a> which sold pre-auction at $261,000. It had last sold in 2000 at $67,500. </div>
<div> </div>
<div>CoreLogic advised it was the third busiest weekend for auctions so far this year returning a national preliminary clearance rate of 65.4 per cent across 3,335 auctions.</div>
<div> </div>
<div>There was a 62.8 per cent success rate across 2,907 auctions last week.</div>
<div> </div>
<div>"This time last year, 2,987 homes were taken to auction and a clearance rate of 74.4 per cent was recorded," CoreLogic auction analysts Kevin Brogan noted.</div>
<div> </div>
<div>The final clearance rate has remained below 65 per cent for the last four weeks.</div>
<div> </div>
<div>He noted one of the biggest contributors to the softer auction market conditions is Sydney, where the final clearance rate has remained below 60 per cent since the last week of October, while Melbourne has slipped below 70 per cent for the second week in a row.</div>
<div> </div>
<div>Melbourne was host to 1,717 auctions this week and a preliminary clearance rate of 69.6 per cent was recorded, making it the second busiest week for auctions in Melbourne this year.</div>
<div> </div>
<div>Last week saw the final clearance rate drop to 69.2 per cent across 1,296 auctions, the lowest clearance rate the city has seen since the beginning of July 2016.</div>
<div> </div>
<div>One year ago, 1,303 auctions were held across Melbourne and 79.4 per cent were successful.</div>
<div> </div>
<div>Its results included The Block winners Elyse Knowles and Josh Barker who sold their Coburg renovation project, just weeks after pocketing $547,000 winnings for their Elsternwick efforts.</div>
<div> </div>
<div>Stong bidding took <a href="https://www.realestate.com.au/property-house-vic-coburg-126699946" target="_blank" rel="noopener noreferrer">the Coburg sale price to $1.631 million</a> as four bidders fought for the offering. </div>
<div> </div>
<div>The price expectations for the renovated California-style bungalow sat between $1.35 million and $1.45 million.</div>
<div>
<br>It sold in original condition in 2014 for $600,000.</div>
<div> </div>
<div>Across Sydney, preliminary results show that 61.5 per cent of the 756 reported auctions sold this week.</div>
<div> </div>
<div>There were 1,035 properties taken to auction across the city, down from 1,102 last week when the final clearance rate was recorded at 58.5 per cent.</div>
<div> </div>
<div>Over the same week last year, 1,082 auctions were held and a clearance rate of 79.6 per cent was recorded.</div>
<div> </div>
<div>In Sydney a large Paddington offering was the weekend's big seller with six registered buyers seeking the six bedroom Harris Street offering that fetched $5.16 million.</div>
<div> </div>
<div>It was on the market for the first time in 60 years.</div>
<div> </div>
<div>
<a href="https://www.realestate.com.au/property-house-nsw-paddington-126720598" target="_blank" rel="noopener noreferrer">The 412sqm landholding</a> featuring a freestanding double-fronted main residence and a self-contained cottage with separate frontage had a R3 Zoning.</div>
<div> </div>
<div>The preliminary clearance rate in Brisbane rose to 49.6 per cent across 213 auctions this week, from 44.1 per cent across 209 auctions last week, while this time last year 262 auctions were held and a clearance rate of 45.2 per cent was recorded. </div>
<div> </div>
<div>Brisbane prices ranged from $344,000 at Margate to $1,415,000 at Milton.</div>
<div> </div>
<div>In Adelaide, a 66.3 per cent preliminary result was recorded this week across 146 auctions. Last week, 128 Adelaide auctions returned a clearance rate of 62 percent for the city, while at the same time last year, 137 homes were taken to auction, with 66 percent recording a successful result.</div>
<div> </div>
<div>Adelaide's top advised result to Domain was just $801,000 when a 1910 three bedroom house <a href="https://www.realestate.com.au/sold/property-house-sa-parkside-126828162" target="_blank" rel="noopener noreferrer">95 Kenilworth Rd, Parkside</a> was sold. It had sold at $613,000 in 2007.</div>
<div> </div>
<div>Adelaide had the cheapest sale across Australia when $199,000 secured 8 McCartney St, Morphett Vale.</div>
<div> </div>
<div>
<a href="https://www.realestate.com.au/property-house-sa-morphett+vale-126297354" target="_blank" rel="noopener noreferrer">The Morphett Vale brick veneer and tile residence</a> was marketed as having "been subjected to termite damage" compromising the integrity of the home.</div>
<div> </div>
<div>"The home offers the experienced builder or those looking to acquire the property at potentially less than land value an opportunity to capitalise on 560 sqm in a great location," the marketing advised.</div>
<div>"This property is not for the faint hearted," it added.</div>
<div> </div>
<div>It had been a $300 a week rental for many years, having last sold in 1994 for $83,500.</div>
<div> </div>
<div>Perth’s clearance rate of 60 per cent across 25 auction results is up from last week, when 40 auctions were held and a clearance rate of 50 per cent was recorded.</div>
<div> </div>
<div>Canberra was the second strongest weekend market.</div>
<div> </div>
<div>Across Canberra, 130 homes were taken to auction with a clearance rate of 67.6 per cent, down slightly from 69.7 per cent the previous weekend. </div>
<div> </div>
<div>Prices ranged from $427,500 at Theodore to $1.64 million at O'Connor.</div>
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Clearance rates sits below 70 percent in all mainland capitals

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<p><span>Australia is in the midst of a tradie shortage in years with many home owners unable to find anyone qualified to complete their home improvement jobs, according to ServiceSeeking.com.au</span></p>
<p>On average, jobs listed on ServiceSeeking.com.au receive four quotes, however, there are a number of specific categories that aren't getting filled.</p>
<p>The website noted apprenticeships are now at their lowest since 2004, according to figures released by the Mitchell Institute. </p>
<p>"This gap in the market offers a great opportunity for tradies looking to grow their business," Jeremy Levitt, CEO of ServiceSeeking said.</p>
<p>"The few tradies that do work in these industries are never short of work and charge premium prices as customers grow desperate to get them done."</p>
<p>The percentage of niche jobs in FY17 with no tradies:</p>
<ol>
<li><span>Bathtub resurfacing (69%)</span></li>
<li><span>Glass installation (64%)</span></li>
<li><span>Staircase jobs (64%)</span></li>
<li><span>Garage, shed and carport installation (60%)</span></li>
<li><span>Stonework and masonry jobs (56%)</span></li>
</ol>
<p><span> </span> </p>
<table style="width: 712px;"><tbody>
<tr>
<td>
<p><span><strong>Niche Category</strong></span></p>
</td>
<td>
<p><span><strong>Missed revenue (FY17)</strong></span></p>
</td>
<td>
<p><span><strong>Average value per job</strong></span></p>
</td>
<td>
<p><span><strong>% of jobs with no tradies</strong></span></p>
</td>
</tr>
<tr>
<td>
<p><span>Stonework and Masonry</span></p>
</td>
<td>
<p><span>$996,875</span></p>
</td>
<td>
<p><span>$3,438</span></p>
</td>
<td>
<p><span>56%</span></p>
</td>
</tr>
<tr>
<td>
<p><span>Cabinetmaking</span></p>
</td>
<td>
<p><span>$898,149</span></p>
</td>
<td>
<p><span>$1,576</span></p>
</td>
<td>
<p><span>39%</span></p>
</td>
</tr>
<tr>
<td>
<p><span>Garages, sheds and carports</span></p>
</td>
<td>
<p><span>$717,723</span></p>
</td>
<td>
<p><span>$643</span></p>
</td>
<td>
<p><span>60%</span></p>
</td>
</tr>
<tr>
<td>
<p><span>Insulation Installation</span></p>
</td>
<td>
<p><span>$645,641</span></p>
</td>
<td>
<p><span>$1,416</span></p>
</td>
<td>
<p><span>55%</span></p>
</td>
</tr>
<tr>
<td>
<p><span>Staircases</span></p>
</td>
<td>
<p><span>$504,000</span></p>
</td>
<td>
<p><span>$2,400</span></p>
</td>
<td>
<p><span>63%</span></p>
</td>
</tr>
<tr>
<td>
<p><span>Carpet laying and Installation</span></p>
</td>
<td>
<p><span>$404,172</span></p>
</td>
<td>
<p><span>$1,199</span></p>
</td>
<td>
<p><span>41%</span></p>
</td>
</tr>
<tr>
<td>
<p><span>Bathtub Resurfacing</span></p>
</td>
<td>
<p><span>$236,000</span></p>
</td>
<td>
<p><span>$500</span></p>
</td>
<td>
<p><span>69%</span></p>
</td>
</tr>
<tr>
<td>
<p><span>Tinting and films</span></p>
</td>
<td>
<p><span>$122,563</span></p>
</td>
<td>
<p><span>$360</span></p>
</td>
<td>
<p><span>46%</span></p>
</td>
</tr>
<tr>
<td>
<p><span>Fridge repair</span></p>
</td>
<td>
<p><span>$68,969</span></p>
</td>
<td>
<p><span>$146</span></p>
</td>
<td>
<p><span>55%</span></p>
</td>
</tr>
<tr>
<td>
<p><span>Glass Installation</span></p>
</td>
<td>
<p><span>$30,800</span></p>
</td>
<td>
<p><span>$560</span></p>
</td>
<td>
<p><span>64%</span></p>
</td>
</tr>
<tr>
<td>
<p><span><strong>Total missed revenue:</strong></span></p>
</td>
<td colspan="3">
<p><span><strong>$4,970,038</strong></span></p>
</td>
</tr>
</tbody></table>
<p><span style="font-size: 12.16px;">This data was derived from over 52,000 quotes submitted by customers to </span><a href="https://serviceseeking.apms5.com/anywhere/m?s=serviceseeking&amp;m=s_205f66db-c70a-4d91-bce6-8c33e656d58d&amp;u=e1jq4wvfdtfkeh9r890m4dht5n138hht5mu36d9j5mwkaha25mu34chq8cw3echh6ct48&amp;r2=d1u78w1u5wqn6tbjetmp6takcnjppubecwq66vvd5tgqa&amp;n=3" target="_blank" rel="noopener noreferrer">ServiceSeeking.com.au</a> over FY17.</p>
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Tradie shortage means some jobs go wanting

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<p>The Northwood home of the the late Australian artist Lloyd Rees has been listed for sale.</p>
<p>The studio below <a href="https://www.realestate.com.au/property-house-nsw-northwood-126946806" target="_blank">his Northwood home</a> remained untouched since his 1988 death until the Art Gallery of NSW recently removed the studio’s contents for posterity.</p>
<p>It is Rees’ son Alan Rees and his wife Jan who have decided to sell the family home.</p>
<p>Rees had bought the Cliff Road block in 1934 for £300, and designed the Italianate villa-style house as his family home.</p>
<p>Rees and his wife Marjory lived there until 1986 when they moved to Tasmania. Marjory died soon after and Lloyd died two years later.</p>
<p>The property is registered for its historic significance with Lane Cove Council.</p>
<p>There is a price guide of $2.2 million ahead of its December 2 auction. </p>
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Late artist Lloyd Rees' Northwood home listed

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<p>The REIV is expecting about 1690 auctions in 370 suburbs this weekend.</p>
<p>The top auction locations this week are Richmond (23), followed by Craigieburn and Glen Waverley with 21 auctions in each, according to the REIV.</p>
<p>The Richmond auction listings include a <a href="https://www.realestate.com.au/property-house-vic-richmond-126763162" target="_blank">double-fronted Victorian cottage</a> on Queen Street (pictured above).</p>
<p>It has $1.9 million to $2.09 million price hopes.</p>
<p>There were 1153 auctions last weekend.</p>
<p>On the same weekend last year there were 1167 auctions.</p>
<p>There was the biggest auction weekend in the state’s history with around 1900 homes in late October. <br><br>The previous record for auctions held in a single weekend was set in November 2015 when 1712 auctions were held.</p>
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Richmond headlines Melbourne's 1690 weekend auctions

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<p>The Melbourne areas with the most number of unoccupied properties have been revealed, as the Andrews government prepares for its new vacant property tax.</p>
<p>The new tax will hit the Melbourne City Council area, where more than 2500 high-rise apartments are vacant.</p>
<p>The new tax will apply to the 16 local government areas from January 1 next year for properties that are left vacant for more than six months in a calendar year.</p>
<p>In the Moonee Valley council area, which includes Essendon, Moonee Ponds, Ascot Vale, Avondale Heights, there are at least 1700 empty properties.</p>
<p>There are more than 1000 vacant properties in the inner-northern Yarra City Council area, which takes in Fitzroy, North Carlton, Collingwood and Richmond.</p>
<p><span><span>Glen Eira and Port Phillip each have up to 1300 unoccupied properties.</span></span></p>
<p><span><span> The number of empty homes is estimated based on water usage.</span></span></p>
<p>Premier Daniel Andrews said the vacancy tax would send a strong message to property owners who were "land banking" that they needed to sell or rent those homes.</p>
<p>There is a range of exemptions for the tax. Some of those will include deceased estates, holiday homes and properties being renovated.</p>
<p>Mr Andrews said the vacancy tax was a commonsense change.</p>
<p>"This is a really powerful signal to the market not to be leaving properties vacant at a time when so many people are finding it so hard to get into the market."</p>
<p>Census figures from 2016 showed that Australia had 200,000 more homes sitting empty than it did a decade ago. </p>
<p>The vacancy tax is expected to raise more than $80 million over four years. But Mr Andrews said he hoped it would encourage owners to rent or sell their properties rather than providing revenue to the government.</p>
<p>Opposition Treasurer Michael O'Brien​ asked "are property owners now required to send their diaries to Daniel Andrews' tax officials?"</p>
<p class="x_MsoNormal">HomeGround Real Estate, a division of Launch Housing, is calling on owners of empty properties in the municipality to return 1,000 homes to the rental market.</p>
<p class="x_MsoNormal">Despite the current housing affordability crisis, more than 7,000 homes in the City of Melbourne municipality remain empty according to City of Melbourne demographic data 2013*. Returning just 14 per cent, or 1,000 homes, to the rental market would make a big difference to the growing number of people who struggle to find an affordable home in Melbourne.</p>
<p class="x_MsoNormal">HomeGround Real Estate is a not-for-profit real estate agency run by Launch Housing, one of Melbourne’s largest providers of housing and homelessness services. The innovative social enterprise aims to increase the stock of affordable housing for clients throughout Melbourne, securing affordable properties for low income tenants, including women and children escaping family violence. </p>
<p class="x_MsoNormal">Launch Housing Deputy CEO Dr Heather Holst said property owners leave homes empty for a variety of reasons but listing the properties with HomeGround Real Estate could make a big difference.</p>
<p class="x_MsoNormal">“More and more people on lower incomes are at risk of homelessness due to the lack of affordable rental properties in Melbourne.</p>
<p class="x_MsoNormal">“The benefits are huge. People who have otherwise been priced out of the market are offered more affordable private rental, and HomeGround Real Estate offers landlords expert property and tenancy management services that give them peace of mind, the opportunity to contribute to those in need of housing, and a ‘social return’ on their negotiated, discounted rental fee.” </p>
<p class="x_MsoNormal">The City of Melbourne made a one-off grant of $150,000, from its $2 million Pathways Innovation Package, to HomeGround Real Estate to contribute to activities that will increase the number of rental properties that are available to people experiencing homelessness within the municipality.</p>
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Melbourne's vacant property hotspots revealed as Andrews introduces new tax

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<p>Listing at noon yesterday, Domain shares opened at $3.80.</p>
<p>The stock traded as high as $3.98, before finishing the day at $3.69, reflecting a near $2.2 million valuation. </p>
<p>Fairfax Media shares fell 30% to 74¢, due to the loss of a 40% stake in the Domain business that has been given to the publisher's shareholders. </p>
<p>Fairfax Media, including its 60% stake in Domain, is now worth $1.7 billion, but when excluding Domain, the market is valuing the Fairfax rump at about $400 million.</p>
<p>On its second trading trading day Domain (DHG) was trading at $3.75.</p>
<p>The spin-off, long mooted, but first announced in February, saw Fairfax's existing shareholders given one Domain share for each 10 shares they own in the longtime publisher.</p>
<p>Fairfax returned to its spinoff plans after US private equity firms TPG and Hellman &amp; Friedman dropped out of bidding for the publishing group in July.</p>
<p>TPG Capital had lobbed a $2.76 billion bid.</p>
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Domain hits stock exchange with near $2.2 million valuation

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<p>GUEST OBSERVER</p>
<p>When it comes to planning better cities for the future there’s one simple rule: connect people to places, people to transport and people to people.</p>
<p>The quality and efficiency of our connections have a major impact on how we experience city living. Too often when a city plans for connectivity the needs of people are neglected. We forget the deceptively simple principle that we must ensure that people are at the centre of how we plan, where we live, how we travel and how we get to work.</p>
<p>Despite our obvious need for connectivity, many of us are living in a state of “urban disconnect”. Cities have been designed for cars rather than people. Urban disconnect and discontent grow on the back of, and are compounded by, increasing pollution, depleting fossil fuels, rising fuel prices, traffic congestion and traffic fatalities.</p>
<p>As we become more disconnected, we suffer the consequences. These include greater inequality, a rise in obesity and social alienation – not to mention lost economic opportunities.</p>
<p><strong>How to diagnose connectivity</strong></p>
<p>Bringing the people and place connections to fruition requires an accurate diagnosis of current levels of connectivity. Connected places have three key attributes:</p>
<ul>
<li>
<p><strong>People connectivity</strong> — this exists where a place promotes social interaction and community engagement; where there is a sense of place, identity, community attachment and social diversity; and where people from all walks of life come into everyday contact with each other. This builds social capital and empathy across the social-cultural spectrum.</p>
</li>
<li>
<p><strong>Place connectivity</strong> — this involves land use that provides easy access to a mix of neighbourhood activities, enabling short-distance travel. This brings place A and place B closer together.</p>
</li>
<li>
<p><strong>Transport connectivity</strong> — this exists where low-impact modes of travel allow for sustainable mobility, which enhances the quality and liveability of places, making the journey between place A and place B safe, efficient and enjoyable.</p>
</li>
</ul>
<p><img src="https://images.theconversation.com/files/194067/original/file-20171109-13317-3xd8or.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></p>
<p><em><span class="caption">Connections between people and places are what makes attractive urban places.</span> <span class="attribution"><span class="source">Picture by Tommy Wong</span>, <span class="license">Author provided</span></span></em></p>
<p>Place and people connectivity encourages place-making and creates vibrant, liveable and attractive urban places.</p>
<p>Place and transport connectivity, on the other hand, is about urban function and describes how accessible urban places are. High place and transport connectivity means that places A and B are brought closer together, or it is faster and easier to travel between them.</p>
<p>To measure the connectivity attributes of places and the success of strategies to meet people’s needs, I developed an audit tool for continual quantitative and qualitative evaluation. The tool can be used to measure the “before and after” situation of a place to assess whether strategies to improve connectivity have been successful.</p>
<p>The audit tool incorporates five key dimensions:</p>
<ul>
<li>
<p>city and neighbourhood structure</p>
</li>
<li>
<p>diversity</p>
</li>
<li>
<p>walkability and cyclability</p>
</li>
<li>
<p>place-making</p>
</li>
<li>
<p>transport.</p>
</li>
</ul>
<p><strong>A case study in connectivity</strong></p>
<p>As an example of using the audit tool, we assessed how King Street in San Francisco performs against the diversity dimension.</p>
<p>Embarcadero Boulevard in San Francisco (which becomes King Street) replaced the elevated Embarcadero Freeway after the magnitude 6.9 Loma Prieta earthquake in 1989.</p>
<p>King Street provides a direct east-west connection between Embarcadero and the I-280 on and off ramps at Fifth Street. The Fourth Street station is a stub-end terminal with six rail platforms. The section I studied runs from the San Francisco Bay Bridge to Fourth Street (highlighted in red in Figure 1).</p>
<p><strong>Figure 1</strong></p>
<p><img src="https://images.theconversation.com/files/193526/original/file-20171107-1011-1rby4u3.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></p>
<p><em><span class="caption">Geographical setting of King Street and Mission Bay.</span> <span class="attribution">Image adapted from Google Earth, 2016, <span class="license">Author provided</span></span></em></p>
<p>Table 1 illustrates the diversity dimension of the audit tool as applied to King Street.</p>
<p><strong>Table 1</strong></p>
<p><img src="https://images.theconversation.com/files/193914/original/file-20171109-11963-fx8gzr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></p>
<p><em> <span class="caption">i) A lot is a land parcel within a block. There could be number of lots under different ownerships within a block.</span> <span class="attribution">Drawn on maps from Google Earth, 2016. Adapted with permission, <span class="license">Author provided</span></span></em></p>
<p>Diversity of block sizes has resulted in a neighbourhood housing information technology companies, media houses, financial institutions, car rental, pharmacy, fire department, retail stores, bowling alley, art stores, design studios, dry cleaners, cafeterias and restaurants. This creates an opportunity for a diverse demographic mix.</p>
<p>Students from the Mission Bay campus of the University of California, San Francisco, a centre for health research and education, together with the mix of office goers add to the diversity and create demand for a number of demographically specific functions and services. Private investments have been attracted to the neighbourhood. Other benefits include jobs, residential growth and increased land prices.</p>
<p><img src="https://images.theconversation.com/files/194442/original/file-20171114-27622-1r7wo7j.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></p>
<p><em><span class="caption">A quiet corner of the busy Kings Street.</span> <span class="attribution"><span class="source">Picture by Reena Tiwari</span></span></em></p>
<p><img src="https://images.theconversation.com/files/194443/original/file-20171114-27585-blj7ws.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></p>
<p><em><span class="caption">Diverse travel modes and a mix of retail, recreation, office and apartments offer a place to work, live and play.</span> <span class="attribution"><span class="source">Picture by Reena Tiwari</span></span></em></p>
<p>The presence of AT&amp;T Park, home of the Giants Major League Baseball team, plazas and parks enhance the recreational character of the place. This diverse mix of functions attracts people to visit, run businesses, work, shop and live. The result is a vibrant neighbourhood character and economy.</p>
<p>Various medium and high-rise residential condominium projects have been built on King Street. There are also multi-family residential buildings. The different types of apartments are a pull factor for all age groups and family sizes.</p>
<p>This has also resulted in an increase in public transit commute trips. Walking-to-work trips, measured in the influence zone of the streetcar-served Embarcadero Boulevard, have increased by 1.6%.</p>
<p>Similarly, I applied the audit tool to the other four dimensions of connectivity attributes for the boulevard.</p>
<p>A well-connected place scores high on many, but not necessarily all, of the variables. Generally, it is a mixed-use place, of medium to high density with fine urban grain. Importantly, people are able to connect to an efficient and well-integrated transport network with easy access to destinations.</p>
<p>By involving users and residents in place-making, a connected place reinforces the community’s positive identity and sense of ownership.</p>
<p><em><img src="https://counter.theconversation.com/content/86214/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1"><strong>Reena Tiwari</strong> is the author of Connecting Places, Connecting People: A Paradigm for Living in the 21st Century (Routledge, September 2017, ISBN 9781138213067).</em></p>
<p><em>Reena Tiwari, Professor and Fellow of the Curtin Academy, Curtin University</em></p>
<p><em>This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/a-city-that-forgets-about-human-connections-has-lost-its-way-86214" target="_blank">original article</a>.</em></p>
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A city that forgets about human connections has lost its way: Reena Tiwari

<p>For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.</p>

<p>The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.</p>

<p>But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.</p>

<p>The biggest takeaway is that inflation continues to move in the right direction.</p>

<p>Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.</p>

<p>While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.</p>

<p>The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.</p>

<p>That trend is important because it aligns with what many economists and lenders have been saying for the last month.</p>

<p>Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.</p>

<p>In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".</p>

<p>The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.</p>

<p>Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.</p>

<p>Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.</p>

<p>Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.</p>

<p>Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.</p>

<p>While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.</p>


Joel Robinson

The inflation result the property market was waiting for

<p>Commercial property group FiveX is doubling down on its move into the residential space.</p>

<p>The group, founded by Joshua and Marko Berger more than five decades ago, has followed up its plans for a 39-storey tower on North Sydney's Alfred Street with a proposed 61-storey tower in Chatswood.</p>

<p>The new tower at <a href="https://www.apartments.com.au/new-apartments/815-pacific-highway-chatswood-nsw-2067">815 Pacific Highway</a>, which would be one of the tallest proposed in Chatswood in recent years, will comprise 490 apartments, 76 of which will be dedicated affordable housing and managed by Evolve Housing for a minimum of 15 years.</p>

<p>The project will replace the long-standing Panorama Building, originally known as the BMA Tower, a 14-storey office building completed in 1972 and designed by Hungarian-born architect Hugo Stossel. At the time of its completion, the building was the tallest structure in Chatswood and became a local landmark due to its distinctive curved form and external glass lift.</p>

<p><img alt="FiveX" data-entity-type="file" data-entity-uuid="956bd299-3864-47a0-8ea6-162b5524c5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.02.03%E2%80%AFPM.png?VersionId=EWx7teUr7RcYrI9mgRytwppwt5AdUDtb" /></p>

<p>fjcstudio is behind the designs. Its Architectural Design Report argues the ageing commercial building no longer reflects Chatswood's role as one of Sydney's key strategic centres and that the site is ideally positioned to support significantly higher residential density.</p>

<p>"The site is located at the heart of Chatswood, within the TOD accelerated rezoning area that supports higher density development around the new Metro station," the report states.</p>

<p>"The site's role within a walkable 400-metre radius catchment is where housing, employment, retail and community uses are encouraged to cluster in support of transit-oriented living."</p>

<p><img alt="fjc" data-entity-type="file" data-entity-uuid="8d198f5e-cc71-4175-9357-be6ec7207473" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.18.27%E2%80%AFPM.png?VersionId=5WUFc3IYBPvhQMBUYLCsjJhzdcVeYodE" /></p>

<p>The proposal has undergone two rounds of review by the NSW State Design Review Panel, with the design evolving through an extensive assessment process focused on design excellence, public realm outcomes, residential amenity and the integration of affordable housing.</p>

<p>fjcstudio says the residential component provides a diverse mix of apartment typologies, supporting a broad demographic and contributing to housing supply in a highly accessible location close to major transport, employment and retail infrastructure.</p>

<p>The application follows FiveX's plans for a 39-storey tower at <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">275 Alfred Street</a>, which it <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">submitted through the same NSW Government pathway</a> in December. That's for 184 apartments.</p>

<p>Recent activity in Chatswood includes Hyecorp launching its Archer Street project, Celine, and Develotek securing approval for a 34-storey tower.</p>


First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans

<p>Bridgewell Capital and SLD Development seem to be bullish on the Killara apartment market, filing plans for a second new development next to the Killara Golf Club.</p>

<p>The new plans are for 79 apartments across an amalgamated 4,989 sqm site on Buckingham Road.&nbsp;The project has been designed by BKA Architecture and is being assessed under the NSW Government's Low and Mid-Rise Housing and Infill Affordable Housing reforms. It is just 300 metres from&nbsp;Killara train station.</p>

<p>The majority of the apartments are three-bedrooms (46), with 23 two-bedroom apartments, seven one-beds, and three four-bedroom apartments. 17 of the apartments&nbsp;are proposed as affordable housing, representing 15 per cent of the project's gross floor area, allowing the development to access additional floor space and height incentives available under the NSW Housing SEPP.</p>

<p>There will be 131 resident and visitor car spaces, and more than&nbsp;1,450 sqm of communal open space. Landscaped areas would account for approximately 45 per cent of the site.</p>

<p><img alt="Killara" data-entity-type="file" data-entity-uuid="75ef5ef7-a53b-4932-a8f1-38f63169eec9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%2011.04.00%E2%80%AFAM.png?VersionId=d_lG1A1StDaMQilljy25Fr8SF1BnAmKE" /></p>

<p>The site currently contains three detached dwellings and occupies a prominent position on the eastern side of Buckingham Road, with frontage to an area that has already begun transitioning towards higher-density housing. Existing apartment buildings of up to six storeys surround the site, while the Killara Golf Club forms its southern boundary.</p>

<p>The application has been lodged as a State Significant Development due to the affordable housing component and the scale of the project.</p>

<p>According to the design report, the proposal has been shaped by the area's evolving planning framework, which is encouraging greater housing density around transport infrastructure.</p>

<p>"The site sits along a growth area anticipated to undergo transformation in line with broader trends across New South Wales, driven by the implementation of the Low and Mid-Rise and Transport-Oriented Development State Housing Policies," the report states.</p>

<p>"Being within 800 metres walking distance to Killara Train Station, the project seeks to provide high-quality apartments designed for various family sizes, located in a vibrant landscaped setting."</p>

<p>The Upper North Shore suburb has become one of the most closely watched testing grounds for the NSW Government's housing reforms. A number of developers have moved quickly to consolidate sites around railway stations across suburbs including Killara, Lindfield, Gordon and Roseville, where the new planning settings are creating opportunities for apartment developments that would previously have been difficult to achieve.</p>

<p>The likes of Aqualand, Hyecorp, Holdmark and Vermont Property Group have projects in the region.</p>

<p>Bridgewell has several developments in the pipeline. Last September they submitted plans for <a href="https://www.apartments.com.au/news/nsw/bridgewell-capital-seeks-55-apartment-project-in-killara">55 new apartments</a> at&nbsp;23-25 Lorne Avenue in Killara, just the other side of Regimental Park from their new project. In May they filed for <a href="https://www.apartments.com.au/news/nsw/first-look-bridgewell-plots-120-apartments-and-childcare-centre-in-maroubra-town-centre">120 apartments in Maroubra</a>.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


First look: Bridgewell, SLD Development double down on Killara Golf Club

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.</p>

<p>"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.</p>

<p>"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."</p>

<p>The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.</p>

<p>&nbsp;</p>


Central Element seeks second Drummoyne apartment development

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.</p>

<p>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.</p>

<p>Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.</p>

<p>"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.</p>

<p>"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.</p>

<p>"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."</p>

<p>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.</p>

<p>Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.</p>


Staff reporter

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