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GUEST OBSERVER
It might seem unlikely that there’s stores in Australia, selling only a small range of products, at prices significantly higher than supermarkets, yet turning over millions of dollars each year. But an increase in stores catering to personal shoppers, called daigou, are growing in the Australian retail scene.
As demand for Australian products increases, daigou stores allow Chinese shoppers to send goods to China. One public relation agency estimated there are between 1,200 to 1,600 small daigou stores that offer “pack and send” services in Australia. Until now, these businesses were fragmented and operated independently.
However, the first Daigou retailer recently listed on the ASX, AuMake. The retailer has seven stores in Sydney and plans for more.
Daigou stores are emerging in response to the demands of a burgeoning Chinese middle-class and their hunger for Australian brands. By 2022, 76% of China’s urban population will be considered middle-class.
Why Australian brands can’t ‘go it alone’
Poor quality Chinese products, food safety concerns combined with ongoing issues of counterfeiting have contributed to a deficit in trust of Chinese brands. This lack of trust is driving demand for authentic, high quality products – particularly from Western markets like Australia.
So, why don’t Australian business simply cut out the middleman and go straight to the consumer? It comes down to the establishment of trust between the consumer and the retailer, and the length of time it takes a foreign retail business to establish consumer trust in China. Australian-based brands like Suisse, Blackmores and Jurlique sell through Daigou retailers to quickly establish authenticity of the product and consumer trust.
Daigou businesses are quickly becoming market influencers, that can make or break brands in China. Case in point is Bellamy’s infant formula, Airwallex Founder Lucy Liu stated: "what Bellamy’s didn’t expect was that the daigous’ customers would be more loyal to their daigou, than to the Bellamy’s brand."
Chinese consultancies are now offering to connect Australian businesses with highly-influential Chinese bloggers and Chinese social media personalities to help promote your products and services
A viable market
Despite low domestic growth in food and groceries, an AFGC State of the Industry Report identified a real hunger for Australian manufactured brands internationally. In 2015-16 food and beverage exports grew by 11% to A$26 billion and grocery (non-food) exports up 32% to A$4 billion.
Notably, China has become Australia’s largest export market for the first time in 2016-17.
So lucrative is this daigou model, that the 2017 Australia-China Business Week Conference allocated an entire afternoon to a workshop on Chinese social media platform WeChat. The aim of the session was to demonstrate to marketers and business how WeChat could be utilised to connect, influence and sell to Chinese consumers.
Global consultancy firms like Nielsen are scrambling to advise entrepreneurs and brands on how they can leverage this new retail model for financial growth.
A final cautionary note
As these daigou stores open up around Australia and become the legitimate “go to” for Chinese consumers seeking quality, authentic Australian brands, it would appear the days of individual daigous striping supermarket shelves of infant formula may be numbered. The model provides a regulated channel to the Chinese consumer and circumnavigates the need for individual daigou shoppers.
While this new retail model presents a great opportunity for Australian products and brands, ultimately, the future remains uncertain. On one hand, Chinese entrepreneurs may increase the number of stores across Australia and small brands will compete for shelf space, in order to access the lucrative Chinese market. Alternatively, established daigou relationships based on trust may endue and the business model becomes irrelevant.
<img src="https://counter.theconversation.com/content/86844/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">In the end, this retail model remains viable only as long as the Chinese government permit online shopping from international markets – they could close the door overnight. Chinese officials have already imposed bans on foreign books, movies and games being imported to China.
Gary Mortimer, Associate Professor, Queensland University of Technology and Charmaine Glavas, International Business Lecturer, Queensland University of Technology
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/chinese-personal-shoppers-have-created-a-new-type-of-retail-store-in-australia-86844" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Chinese personal shoppers have created a new type of retail store in Australia: Gary Mortimer & Charmaine Glavas

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GUEST OBSERVER
The increasing thirst of Australia’s biggest cities routinely exceeds our capacity to rely on rainfall for drinking water. Australia is facing a fast-approaching “perfect storm” of growing urban populations and declining rainfall to supply storage reservoirs.
Despite these challenges, our capital cities’ rapid population growth is forecast to continue in coming decades. Sydney, for example, is expected to grow by 1.6 million people in 20 years, but is predicted to be overtaken by Melbourne as the nation’s largest city by then.
How is Australia going to ensure the swelling urban population has enough water? The last two decades provide some important clues.
The largest east coast centres (Melbourne, Canberra, Brisbane and Sydney) have all faced water supply challenges, but Perth and Adelaide have really been pushed to extreme levels. Current water storage levels in Australian capital cities range from 94.2% in Hobart and 69.7% in Melbourne through to 40.4% in Perth – the lowest of the capital cities. Only a year ago it was an alarming 28.5%.
Why are Perth’s water storages so low? Because of steep declines in rainfall and catchment runoff into the city’s dams.
The world is watching Perth and its water supply crisis. The long-term volume of water flowing into the Perth supply has plummeted from an annual average of 338 gigalitres (1911 to 1974) to less than 50 GL/year (2010-2016). During this 43-year “big dry”, the number of people served by the Perth water supply has increased steeply.
How has Perth managed to survive? Desalination and groundwater have come to the rescue. Perth relies less on catchment runoff and surface storages, and now has two giant desalination plants. It also has tapped into groundwater as a major source of domestic water.
Solutions have been costly
All water utilities across Australia struggle with increased population growth and extended periods of low rainfall. The Millennium Drought caused widespread problems for all Australian urban water supplies. The levels in major east coast storages shrivelled to the lowest levels in decades.
Melbourne’s water storages fell to a perilous low of 26% in June 2009. A large part of Adelaide’s water supply has relied on declining flows in the Murray River. The drought combined with extractions by upstream water users reduced the Murray to a trickle in 2006-07.
All of the mainland states have built huge desalination plants, but these come with huge price tags. The Melbourne plant cost about A$4 billion.
Operational costs are enormous, even if the plants sit idle. The Sydney plant’s costs are more than A$500,000 a day, although it has not supplied any water since 2012 as the city’s stored water supply remains higher than 60% of capacity.
Desalination also uses enormous quantities of electricity to extract fresh water from salt water. During his time as NSW premier, Bob Carr referred to desalination as “bottled electricity”. This is important to consider given the power crisis facing eastern Australia.
Urban growth affects water quality
The growth of the urban populations and other human activities is linked to water quality issues in urban water supplies. Melbourne’s water catchments are mostly “closed” – minimal private landholdings and human activity are permitted. In contrast, Sydney and Brisbane have more “open” catchments, which include private lands.
Three Brisbane storages (Wivenhoe, North Pine and Somerset) have water quality issues linked to agriculture and other human activity in the catchments. Sydney’s massive Warragamba Dam has a huge catchment that includes more than 110,000 people. The settlements are served by nine sewage treatment plants, most of which discharge treated sewage into drinking water catchment rivers.
A recent audit of the Sydney catchments and storages reported that sewage treatment plant upgrades had improved water quality. The audit recommended that future upgrades improve sewage treatment for the growing urban population in the NSW Southern Highlands (Bowral, Mittagong and Moss Vale).
The case for water conservation and recycling
Perth and Adelaide are the two capitals under most water supply stress. They are an example for all Australian capitals to consider when planning future water supply challenges and solutions. Both Perth and Adelaide now heavily rely on recycled water and desalination.
Recycling waste water for use in urban water supplies is important for all urban centres, particularly Perth and Adelaide. The United Nations Food and Agriculture Organization points out that waste water has numerous public health risks, so risk management is essential for all recycled water schemes.
Perth and Adelaide are both using more groundwater than the other capital cities. Perth is extracting more groundwater from deep aquifers north of the city. Perth is also pumping treated waste water into shallower groundwater aquifers to replenish the supply.
No new large water supply dam has been built in Australia since the 1980s. The challenge of meeting future urban water demand is not likely to be solved by building new dams.
While desalination, groundwater and recycling are all growing in importance, our individual actions to conserve and use less water are key. For example, the consumption of water per person in Sydney has dropped from 500 litres a day in 1990 to less than 300 litres. Melbourne has a daily target of 155 litres per person.
<img src="https://counter.theconversation.com/content/86301/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">There is plenty of room for improvement. According to United Nations data, Australia still has the second-highest daily water consumption per person. The US has the world’s highest at 575 litres a day. The UK is already exceeding Melbourne’s target with 149 litres per day. Tragically, in Mozambique, water is in such short supply that people there use a paltry four litres per day.
Ian Wright, Senior Lecturer in Environmental Science, Western Sydney University.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/this-is-what-australias-growing-cities-need-to-do-to-avoid-running-dry-86301" target="_blank">original article</a>.
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This is what Australia's growing cities need to do to avoid running dry: Ian Wright

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Two South Australian property buyers have been defrauded out of $900,000 by scammers using bogus email details to pose as their conveyancers.
The Australian Institute of Conveyancers has referred it to the police.
The institute's South Australian CEO Rebecca Hayes said the scammers sent fake emails to conveyancers' clients last month with instructions on where to send large sums of money for their property settlements.
The cyber scammers intercepted regular emails to changing the bank account details.
"The client then pays money into what they believe is the conveyancer's trust account but unfortunately it's an account owned and operated by the cyber criminal and the money goes there and unfortunately disappears," Ms Hayes said.
Property buyers should verify trust account information before transferring money, and said the scam had claimed other victims interstate.
The scam has occurred previously in Western Australian earlier this year when a father and son buying a property south of Perth uncovered an email scam that could have cost them $200,000.
However, they noticed the email address was slightly different to their agency's and checked before confirming the request was fake.
But an elderly woman has been robbed of more than half a million dollars after scammers pretended to be her settlement agent and convinced her son to transfer cash into a bogus account.
The 83-year-old woman was one of six people targeted by similar cyber attacks in two months.
An email asked for $558,000 as the final payment for the property to be transferred into an account.
By the time the son realised it was fake, it was too late.
In August two clients of another western suburbs settlement agency lost $25,658 after emails were intercepted, and three payments towards property purchases were sent to scam bank accounts.
Rebecca Hayes said efforts were being made to recover the money but the SA scam could potentially cause a property settlement contract to become void if the funds could not be met within the settlement period.
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Settlement conveyancing con by scammers triggers warning to property sellers

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Architect Ian Moore's own award-winning Surry Hills warehouse has been listed with a $3.1 million asking price. 
The nifty <a href="https://www.realestate.com.au/property-warehouse-nsw-surry+hills-126186086" target="_blank">84 square metre Prospect Street</a> property has been listed by Marcus Lloyd-Jones at the Modern House agency.
It's known as the Strelein Warehouse, being also home to Moore's partner Tess Strelein.
<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/2017/11/2/Moore1.jpg" alt="">
The former 1895 grocery warehouse was bought by the couple in 2008 for $950,000 from artist Jon Plapp who had paid $29,750 in 1978.
It was rebuilt in 2010 and won 16 national and international awards.  
<div class="notes-source">The main street façade re-interprets the original home but in steel rather than timber. </div>
The two level, one bedroom residence - with 150 square metre internal space - takes advantage of its two street frontages.
<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/2017/11/2/Moore2.jpg" alt="">
Internally a 1.7 metre height difference between Prospect Street and Chapman Street is used to create the tall volume of the living space and its floor-to-ceiling wall of books.
The entire house is decked out in black and white tones.
The kitchen occupies the half level above, overlooking the living area.
The home was listed in 2013 for six months but failed to find a buyer at $2 million through BresicWhitney.
 
 
 
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Ian Moore's Strelein Warehouse for sale

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Actress Joy Smithers, most known as a presenter in the early days of MTV in the 1980s, has sold her Botany home.
Listed with $1 million hopes, the <a href="https://www.realestate.com.au/property-house-nsw-botany-126683818" target="_blank">three bedroom cottage</a> reputedly fetched $1.3 million.
The cottage sits in gardens designed by her partner, former INXS manager Gary Grant.
It was bought in 2013 for $752,000.
It has been scheduled for a November 11 auction through George Faris at The Sydney Property Agency.
<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/2017/11/1/Botany2.jpg" alt="">
Smithers most recently featured in the Mad Max: Fury Road in 2015.
Her Mad Max appearance came over three decades after she was offered the role of Max's wife Jessie in the 1979 original at the age of 15.
She was forced to decline after her parents would not let her travel to Adelaide for production.
 
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Joy for Smithers as Botany cottage sold pre-auction 

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Canberra’s top weekend auction sale was a Forrest house designed in 1927 by Oakley &amp; Parkes, who had previously designed The Lodge.
The home (above) on <a href="https://www.realestate.com.au/sold/property-house-act-forrest-126638310" target="_blank">its 1500 sqm Barkly Crescent block</a> last sold in 1997 at $525,000.
Luton Properties sold another Oakley &amp; Parkes designed home in Forrest earlier this year.
Owned by the same family for more than 40 years, the residence was marketed as of 1925 origin.
"A traditional Oakley and Parkes design; privately hedged on this superb 2006 sqm came with high ceilings, cornices and large portrait windows.," the marketing advised.
The <a href="https://www.realestate.com.au/sold/property-house-act-forrest-125703758" target="_blank">Dominion Circuit hom</a>e fetched $2.25 million (below).
<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/2017/11/7/Oakley2.jpg" alt="">
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The Lodge, a fine example of the Inter-War Georgian Revival style of architecture, was designed by architects Oakley and Parkes, who played a key role in the design of Canberra's permanent housing in its initial phase.
Architects suggest The Lodge is the Canberra residence which demonstrates best their architectural expertise. 
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The designers of The Lodge were Melbourne architects, Percy Oakley and Stanley Parkes.
 Work was begun on the residence in 1926, before the Federal Parliament moved to Canberra from Melbourne. 
The design was illustrated in the 7 June 1926 issue of Australian Home Beautiful after it was built by James G. Taylor of Glebe, NSW, at a total cost of £28,319, which included furnishings, decoration and landscaping, with a tennis court and a croquet lawn. 
Mrs Ruth Lane-Poole supervised the interior decoration of the house and the purchase of fashionable, late 1920s furnishings.
The first occupants were S. M. Bruce and his wife, in May 1927. 
In 1929 his Labor successor, J. M. Scullin refused to live there, declaring that it was "too grand".  
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Oakley & Parkes-designed Forrest home sold

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CK Asset Holdings, controlled by Hong Kong's richest man Li Ka-shing, has sold a 73-storey Hong Kong office tower for $HK40.2 billion ($6.8 billion), which Reuters credits as the world's biggest ever single property sale.
It is being sold to CHMT Peaceful Development Asia Property, a British Virgin Islands-incorporated company, with 55 per cent of the investment coming from Beijing-based China Energy Reserve and Chemicals Group, according to local media, with the rest coming from Hong Kong investors.
The energy company is a unit of state-owned China Overseas Holding Group.
"The selling price is reasonable ... it's a positive signal to the market and I expect we'll see more large transactions of office buildings in Q4," said Tom Ko, executive director of real estate consultant Cushman &amp; Wakefield.
Australia's biggest single biggest office deal was a 49.9 per cent interest in Brookfield's $1.9 billion Wynyard Place development in Sydney.
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Hong Kong sale of the world's dearest office building

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<a href="https://theconversation.com/profiles/justin-malbon-110917" target="_blank">Justin Malbon, Monash University</a>
The <a href="https://sjm.ministers.treasury.gov.au/media-release/110-2017/" target="_blank">federal government will be forcing banks</a> to hand over half their credit data ready for reporting by mid-2018 (with the remainder available in 2019).
It seems rather quaint in the age of big data that the big four banks have been able to hold onto their treasure troves of loan data for so long. This data reveals how reliable we are at repaying our loans. This information is gold to a lender.
For the government’s proposed legislation to work well, it would need to ensure effective regulatory systems are in place to protect our data and avoid more mortgage stress. To achieve this, lessons need to be learned from the US experience.
The new legislation on credit data promises to open up the consumer credit market to increased competition. This may in turn lead to cheaper loans.
Nimble competitors using new technologies could offer consumers innovative loan products at competitive interest rates. Non-traditional lenders could aggressively expand their market share at the expense of the banks. Consumers would seem to be the beneficiaries.
<h2>Lessons from the global financial crisis</h2>
Australia has long maintained one of the most restrictive <a href="https://books.google.com.au/books?hl=en&amp;lr=&amp;id=if2xjLv74HYC&amp;oi=fnd&amp;pg=PA273&amp;dq=J+Barron+and+M+Staten+%E2%80%98The+Value+of+Comprehensive+Credit+Report:+Lessons+from+the+US+Experience%E2%80%99+in+Credit+Reporting+Systems+and+the+International+Economy+(MIT+Press,+Cambridge+Mass,+2003)+&amp;ots=uD2_nMsTmX&amp;sig=NcDHHieq7GRoeLAbY_lYdMrYmcI#v=onepage&amp;q&amp;f=false" target="_blank">credit reporting systems amongst OECD countries</a>. Australia’s reporting system had only allowed credit reporting agencies such as Equifax and Dun and Bradstreet to report on consumers’ bad credit histories. These histories include things such as bankruptcies, and late loan and rental repayments.
The US system already has required reporting of the positive aspects of a consumer’s credit behaviour, including their timely loan repayments. This has enabled companies to develop statistical scoring models to estimate a consumer’s loan default risk with remarkable accuracy. Credit scoring became the cornerstone for underwriting <a href="https://books.google.com.au/books?hl=en&amp;lr=&amp;id=if2xjLv74HYC&amp;oi=fnd&amp;pg=PA273&amp;dq=J+Barron+and+M+Staten+%E2%80%98The+Value+of+Comprehensive+Credit+Report:+Lessons+from+the+US+Experience%E2%80%99+in+Credit+Reporting+Systems+and+the+International+Economy+(MIT+Press,+Cambridge+Mass,+2003)+&amp;ots=uD2_nMsTmX&amp;sig=NcDHHieq7GRoeLAbY_lYdMrYmcI#v=onepage&amp;q&amp;f=false" target="_blank">decisions for consumer loans</a>.
Unsurprisingly, this led to intense competition. With more accurate data, lenders no longer had to assume that low income consumers represented a higher risk of defaulting on their loans.
With customer loan histories being made available to competitors, low income consumers with a history of being reliable repayers were offered loans. As competition intensified, an ever-expanding <a href="https://www.emeraldinsight.com/doi/abs/10.1108/S0733-558X%282010%29000030A008" target="_blank">sub-prime loan mortgage market developed</a>. Shoddy loan practices became rife, setting the stage for the 2008 global financial crisis.
Australian households overall are <a href="https://www.imf.org/en/Publications/GFSR/Issues/2017/09/27/global-financial-stability-report-october-2017" target="_blank">already heavily in debt</a>. Intense competition resulting from the proposed new legislation risks pushing households deeper into debt. Low income consumers risk becoming more vulnerable to falling into debt traps.
Partly in response to the global financial crisis, Australia introduced responsible lending obligations on lenders, which are designed to stop loans to consumers who lack the capacity to repay them. However, the US subprime experience showed that lenders became adept at dodging the rules, and regulators <a href="https://global.oup.com/academic/product/the-subprime-virus-9780195388824?cc=au&amp;lang=en&amp;" target="_blank">appeared to lack the will to enforce them</a>. The regulators will need to be particularly vigilant to avoid this occurring in Australia.
Compelling the big banks to release loan histories to third parties, such as credit reporting agencies, raises further risks that need to be closely attended to. Lenders will either create their own credit scoring models from the data provided by the banks, or rely on the scores produced by credit reporting agencies.
A bad or inaccurate score will have serious implications for a consumer. They may either be refused loans, or only be offered interest rates that are higher than if their score had been accurate.
There needs to be effective systems in place to ensure consumers have ready access to their score, and that they be able to challenge any inaccuracies. Informational transparency should apply for the benefit of both lenders and consumers.
Yet another risk is that our personal loan information will be stolen by criminals. Earlier this year, credit rating agency Equifax was subjected to a cyber attack affecting <a href="https://www.theguardian.com/technology/2017/oct/11/personal-details-of-almost-700000-britons-hacked-in-cyber-attack" target="_blank">over 143 million Americans and over 600,000 Brits</a>. Australia’s largest credit reporting agency, Equifax Pty Ltd, is a wholly owned subsidiary of Equifax Inc.
The data breach is subjecting US and UK consumers to increased risks of identity fraud and targeted scams. Requiring the banks to release our loan data to third parties increases the risk of data breaches.
Increased competition can offer considerable benefits for consumers. However, overheated competition risks damaging the interests of individual consumers, and the economy as a whole.
<img src="https://counter.theconversation.com/content/86757/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Consumers also face the increased likelihood of data breaches. The federal government and its regulatory agencies will need to be highly alert to these dangers, and ever vigilant.
<a href="https://theconversation.com/profiles/justin-malbon-110917" target="_blank">Justin Malbon</a>, Professor of Law, <a href="https://theconversation.com/institutions/monash-university-1065" target="_blank">Monash University</a>
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/forcing-the-banks-to-hand-over-our-credit-history-might-help-with-a-home-loan-but-it-has-risks-86757" target="_blank">original article</a>.
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Forcing the banks to hand over our credit history might help with a home loan but it has risks

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The Gosford ATO office building, which is still under construction, is under offer, through the real estate agency Colliers International.
The <a href="https://www.colliers.com.au/114152/" target="_blank">99 Georgiana Terrace and 38 Mann Street</a> holding, comprises a 7,150 sqm office building to be completed in late 2017 and a two-storey heritage building which will be renovated for retail, café or boutique office use.
The Commonwealth Government has committed to a 10-year lease in 99 Georgiana Terrace, with two further options of five-years, representing 97 percent of the asset’s total income.
The properties were marketed through an expressions of interest campaign that closed on October 5.
“Offered by one of Canberra’s largest investment and development companies, Doma Group, this property is an incredible opportunity in the Central Coast’s commercial hub,” said Paul Powderly of Colliers International, who along with his colleagues Tim Mutton, Adam Leacy and James Barber were tasked with the marketing campaign.
The total net lettable area is 7,380 sqm.
The office building, close to Gosford CBD, delivers a secure income stream due to its high-profile tenancy in the Commonwealth Government and a fixed 3.5% review mechanism over the term of the lease.
<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/2017/11/7/Gosford2.jpg" alt="">
The population of the NSW Central Coast is expected to grow by 70,000 to around 409,000 over the next two decades, which will require over 30,000 new jobs to be created over the next 16 years.
“Gosford is perfectly primed to benefit from its proximity to Sydney, growing population and beautiful surrounds,” said Adam Leacy.
“The property is bounded by Georgiana Terrace and Mann Street, only minutes from the CBD and adjacent to Gosford City Park, meaning it is the ideal location for office space in this booming part of the New South Wales economy."
The Doma Group has been a significant participant in the property industry across the residential, commercial, retail and hospitality sectors for over 40 years – and recently secured the rights to develop the new 13,000 sqm ACT Government office in Dickson with a 20 year pre-commitment.
 
 
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Gosford ATO office listed, under offer

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The heritage-listed Cygnet Theatre, located in the southern Perth suburb of Como, has been listed for sale for the first time.
The historic 1938-built cinema and coffee shop comes with a day spa.
It is expected to fetch more than $10 million.
Originally named The Como Theatre, it was designed by William Leighton for cinema pioneer James Stiles.
The art deco-style theatre is on the state’s Heritage Register.
<img class="size-full wp-image-47341 aligncenter" src="https://www.commercialrealestate.com.au/news/wp-content/uploads/2017/11/cygnettheatre2.jpg" alt="The theatre is one of the most intact examples of art deco cinemas in the city. Photo: Supplied" width="1000" height="667">
The theatre is one of the most intact art deco cinemas in Australia.
The Como Theatre was renamed the Cygnet Theatre in 1968.
In 2013 the theatre got a $100,000 State Government heritage grant used to upgrade wiring and to install a digital projector.
The site is being sold by Mr Stiles’ son through Rob Selid of Burgess Rawson and Bryan Cousins of Allied Property Consultant.
The site is leased on a monthly basis as a single screen cinema as part of the Grand Cinemas franchise.
Offers on the property at 12-16 Preston Street close November 22.
 
 
 
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Art Deco Perth cinema for sale for first time

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year. The developer also plans to redevelop the 13,088 sqm WIN Grand megasite into a new $500 million precinct with nearly 600 apartments and has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

Joel Robinson

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada files for trio of apartment towers in Campsie town centre</a>

Arada entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

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.

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.

The biggest takeaway is that inflation continues to move in the right direction.

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.

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.

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.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

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.

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".

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.

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.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

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.

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.

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.

The inflation result the property market was waiting for

Commercial property group FiveX is doubling down on its move into the residential space.

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.

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.

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.

<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" />

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.

"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.

"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."

<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" />

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.

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.

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.

Recent activity in Chatswood includes Hyecorp launching its Archer Street project, Celine, and Develotek securing approval for a 34-storey tower.

Staff reporter

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