National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Australia Post is one of the country’s most trusted institutions, powering one of the largest delivery networks in Australia. As online shopping continues to scale, Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online.

That scale of eCommerce activity has fundamentally changed expectations around how and when parcels arrive, and what happens when someone isn't home.

<h3>Problem solved with Parcel Lockers</h3>

The traditional alternatives to home delivery are far from ideal. Buildings can rely on reception teams to manage deliveries, which introduces ongoing staffing costs and liability concerns. Parcels can be left in common areas, which creates security and aesthetic issues. Or residents are redirected to nearby Post Offices for collection, which shifts the inconvenience rather than solving it.

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The data behind that frustration is significant. Nationally, around 9 per cent of deliveries are carded, meaning the recipient was not home and must collect the parcel from a Post Office. That figure reflects the national average reported between November 2025 and January 2026. In Melbourne, that figure rises to 20 per cent. In high-density living, it climbs again to 28 per cent. In other words, more than one in four deliveries in Melbourne apartment buildings results in a failed first attempt.

<h3>How Parcel Lockers work</h3>

The mechanics are simple. When a parcel arrives, the resident receives a notification either through the Australia Post app or via SMS. They scan a QR code, use their one-time PIN and the compartment opens. The parcel is secure, accessible and removed from the lobby floor.

Located in thoughtfully chosen, easily accessible areas, including external building interfaces, mixed-use precincts or shared communal zones, Parcel Lockers enhance convenience without requiring internal building access or additional operational oversight.

<h3>The scale of the network</h3>

This expansion represents Australia Post's largest investment in parcel infrastructure to date, building on momentum that began in 2011 when the first 24 Parcel Locker sites were introduced.

Today the Australia Post Parcel Locker network spans over 1,400 locations and more than 105,000 individual compartments, with major investment already underway to significantly expand the network further.

<h3>What it means for developers and building operators</h3>

A Parcel Locker bank is free to install and free for residents to use. That removes one of the primary barriers to adoption and shifts the conversation from cost to integration.

Australia Post's preference is to engage with developers during the design phase. That allows Parcel Lockers to be located in a considered, publicly accessible space that works for residents and the broader community. Retrofit is possible, and existing buildings can be assessed, but the strongest results occur when Parcel Lockers are treated as part of the core services plan rather than a bolt-on solution.

While the iconic Australia Post red is widely recognised, Parcel Lockers can also be delivered in more muted palettes such as beige or green to align with architectural intent.

For developers, they offer a tech-forward amenity that meets modern expectations, a reduction in courier congestion and building-management load supporting lower emissions and better ESG outcomes, and a meaningful marketability advantage in high-density, eCommerce-active areas, all at no cost for installation and maintenance, with Australia Post funding the program aside from power access.

<h3>Who's using them</h3>

Generational shopping behaviours show strong, sustained growth across all cohorts. Millennials (27–43) led online spend in 2024, contributing nearly $25 billion. Baby Boomers (60–78) increased their online spend by 17.6 per cent, becoming the fastest-growing adopters. Gen Z (13–26) and Gen X (44–59) continue to lean on delivery services as part of their everyday shopping habits.

Internationally, uptake is even more pronounced. Overseas markets are seeing rapid adoption by both developers and consumers, positioning Parcel Lockers as standard infrastructure in many new residential projects. For Melbourne's development community, this signals a shift in baseline expectations. Just as secure bike storage and dedicated parcel rooms have become more common, integrated Parcel Locker networks may soon be viewed as part of the essential service mix.

<h3>The bigger picture</h3>

Parcel Lockers aren't just a logistics fix. Developers invest heavily in lobby design, materials, lighting and landscaping to shape first impressions. Yet a stack of unattended parcels can undo that effort in an instant. Embedding parcel infrastructure early allows projects to respond to how people actually live today, supporting resident satisfaction, reducing operational strain and aligning with broader community and ESG outcomes.

As Belinda Quinn, Senior Transaction Manager – Retail &amp; Out of Home at Australia Post, puts it, residents increasingly expect delivery solutions that align with real life, are flexible, secure and available whenever they need them.

How Australia Post is solving the parcel problem for apartment living

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GUEST OBSERVATION
Heatwaves have killed more Australians than <a href="https://ama.com.au/ausmed/heatwave-health-warning" target="_blank">road accidents</a>, fires, floods and <a href="https://www.sciencedirect.com/science/article/pii/S1462901114000999" target="_blank">all other natural disasters combined</a>. Although <a href="https://theconversation.com/forget-heatwaves-our-cold-houses-are-much-more-likely-to-kill-us-83030" target="_blank">recent research</a> shows extreme cold is a worry in some parts of Australia, <a href="https://theconversation.com/2018-19-was-australias-hottest-summer-on-record-with-a-warm-autumn-likely-too-112616" target="_blank">our hottest summer on record</a> points to more heat-related deaths to come. The <a href="https://theconversation.com/the-stubborn-high-pressure-system-behind-australias-record-heatwaves-110442" target="_blank">record heatwaves</a> have highlighted the damaging effects of heat stress. Understandably, it’s becoming a major <a href="https://ama.com.au/ausmed/heatwaves-nation%E2%80%99s-deadliest-natural-disaster-0" target="_blank">public health challenge</a>.
The risk of extreme heat events and the adverse impacts on older people has been extensively <a href="https://jech.bmj.com/content/64/9/753.short" target="_blank">discussed in research</a>. Remarkably, very little attention has been paid to the role of urban greenery in reducing heat stress for seniors.
Older people are particularly at risk of heat stress. Pre-existing medical conditions and limited mobility increase their vulnerability. <a href="http://www.cmaj.ca/content/182/10/1053.short" target="_blank">Deaths of older people increase</a> during extreme heat events.
The physical features of urban areas shape the capacity of older adults to engage in many activities when it’s hot. These include vegetation volume and coverage, <a href="https://theconversation.com/building-cool-cities-for-a-hot-future-57489" target="_blank">thermal design</a>, and the extent of shading in public areas and walkways. Increasing urban greenery may offer a way to improve older people’s comfort and social experience.
Ageing adds urgency to greening
It is expected <a href="http://www.un.org/en/sections/issues-depth/ageing/" target="_blank">20% of the global population</a> will be older than 60 by 2050. The figure for Australia <a href="http://www.abs.gov.au/ausstats/abs@.nsf/mediareleasesbyTopic/2CA2134677EF9D03CA257C2E0017283B?OpenDocument" target="_blank">is even higher</a>, at 23%. This means that by 2050 around one in four Australians will be more vulnerable to extreme heat.
Climate change may make the problem worse by <a href="https://www.sciencedirect.com/science/article/pii/S0749379708006867" target="_blank">fuelling even more extreme heat</a> events.
Planning our urban centres to meet the needs of a <a href="https://www.aihw.gov.au/reports/older-people/older-australia-at-a-glance/contents/demographics-of-older-australians" target="_blank">rapidly ageing population</a> is a matter of urgency. Urban greening to reduce their vulnerability to heat stress should be central to this agenda. It can also improve people’s quality of life, reduce <a href="https://www.sciencedirect.com/science/article/abs/pii/S1353829208001172" target="_blank">social isolation and loneliness</a>, and ease the burden on health systems.
An important task is matching the design of communities with the needs of an ageing population. Where older adults live and the quality of their local areas strongly influence their lived experiences. Yet <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/abs/10.1177/0885412217704649" target="_blank">recent research</a> found the experiences of seniors were often not accounted for in research on neighbourhood design.
What about aged care?
People face choices about where they live as they age. The common choices are to “<a href="https://theconversation.com/for-australians-to-have-the-choice-of-growing-old-at-home-here-is-what-needs-to-change-91488" target="_blank">age in place</a>” or to move into aged care.
Ageing in place includes living in one’s own home or <a href="https://theconversation.com/co-housing-works-well-for-older-people-once-they-get-past-the-image-problem-79907" target="_blank">co-habiting with relatives or friends</a>. Around 90% of Australian seniors <a href="https://www.pc.gov.au/research/completed/housing-decisions-older-australians/housing-decisions-older-australians.pdf" target="_blank">choose this option</a>, with the remainder opting for aged-care facilities.
If one in ten Australian seniors live in aged-care facilities, it is clear these should be designed to minimise heat stress. This isn’t just good for residents; it may also benefit operators by lowering health-care and electricity costs.
While these facilities are purpose-built for older people, many in Australia were built well over a decade ago, when heat stress was not such a large concern. Many more facilities are being built now and will be into the future. Yet it is uncertain whether they are being actively designed to reduce the impacts of heat.
What has our research found?
We recently conducted a focus group to investigate this issue. Participants were senior managers from four large corporate providers of aged care in Australia. We investigated if and how providers try to minimise heat stress through design. We also sought to understand the rationales used to support these design approaches.
Several participants reported on refurbishments that they expect will have cooling effects. Cited design approaches included green roofs and walls, as well as sensory gardens. Other expected benefits included reducing anxiety and improving the mental health of residents.
The fact that single design interventions could produce multiple benefits improved the potential for corporate buy-in. Participants expected that increasing green space and green cover would give their facilities a competitive advantage by attracting more clients and providing a better working environment for staff.
Participants also reported on challenges of including greening in their projects. For example, the benefits of trees were weighed against concerns about roots disrupting footpaths and becoming trip hazards. Species selection was another concern, with fears that inappropriate plants could die and undermine support for greening programs.
Our research suggests that more can be done to make cities hospitable for older people, especially during extreme heat. Urban greening is a start. Encouraging aged-care providers to adopt green infrastructure will have benefits. But we should also consider reforms to planning systems and urban design to better protect older people who choose to age in place.
Claudia Baldwin, Associate Professor, Urban Design and Town Planning, Sustainability Research Centre, University of the Sunshine Coast
Jason Byrne, Professor of Human Geography and Planning, University of Tasmania 
Tony Matthews, Senior Lecturer in Urban and Environmental Planning, Griffith University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-do-we-save-ageing-australians-from-the-heat-greening-our-cities-is-a-good-start-112613" target="_blank">original article</a>.
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How do we save ageing Australians from the heat? Greening our cities is a good start

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The third and final stage of Byron Bay’s residential subdivision Seacliff has only three lots remaining after the first two stages sold out.
Developer Unison Projects’ $20 million Seacliffs development at Suffolk Park in the Byron Bay hinterland features 34 elevated lots in the 16 hectare eco-friendly hinterland estate, including some with ocean views.
Some 3 hectares of the 16 has been developed, with the remaining 13 hectares of rainforest untouched or revegetated.
Unison Projects’ Jonathan Levy said the final three lots were elevated with ocean views.
Levy said the quality of houses constructed has been outstanding. 
Seacliffs Byron Bay is a rainforest fringed enclave with 73% of the estate maintained as a nature reserve and a wildlife corridor for native animals. 
McGrath’s Nick Dunn said Seacliffs has appealed to a wide range of buyers including families, downsizers and locals seeking a more elevated location in Byron while staying close to the town centre and major amenities, eight minutes to the heart of Byron Bay.
The remaining blocks are cleared and priced from $575,000.
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Final building lots at Byron Bay’s Seacliffs released

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New data gathered by tradie jobs website ServiceSeeking.com.au reveals prices can vary significantly depending on your postcode.
Living in some suburbs can drive up the cost of hiring a tradie.
It suggests the diagonal divide between the north-east and south-west of Sydney is clearer than ever.
An excel file of the average hourly rates can be found <a id="LPlnk728416" href="https://serviceseeking2.apms5.com/anywhere/m?s=serviceseeking2&amp;m=s_4607f61d-4040-49b5-a3c8-d97d5c13f33c&amp;u=e1jq4wvfdtfk2hj260rk8d245mukcd1r5mu46da65mw44da65n2kgea38t23eh236n148&amp;r2=d1u78w3k78qjyxvqewq76tbjetmp6tbkcnjppubecwq66vvd5tgqabv2dhqpebv3entq8vvdcnt2yw3jd5hpjvk75nkqaub4cntjyv31ehu6abbcd5q6abbqd1jq4t9df5qqabbcd5v6abb4e9mqctbk5nuq0bb3dxtq8bbfcrppgubjd5q6ebbme9gp8tbkdnjpwbr&amp;n=2" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">here</a>. 
The website study noted towards the end of last year as tradie prices started to decline, residents of the inner city, eastern suburbs and the north shore were paying up to 140 per cent more for tradies than those living in the south and west.
ServiceSeeking.com.au mapped the average hourly charge-out rates of tradies across seven industries by analyising over 12,000 hourly rate quotes submitted on the site in 2018.
The map displays areas with prices above the average in red and areas below the average in green.
"The closer you get to the inner city and eastern suburbs, the higher the charge out rate," it concluded.
The most expensive suburbs are clustered around the inner city, east and north; most of the south and west (and outer north-west) of the city is the land of "milk and honey" (ie cheap tradie prices).
The geographical divide of the mapped tradie quotes bears a striking resemblance to the so-called "latte line" - north of the line is where the jobs are, while south of the line is where there's greater housing availability.
Jeremy Levitt, CEO of ServiceSeeking.com.au says tradies continue to lift their rates for customers they perceive as being better able to pay higher prices.  Property prices align with this trend too.
"While we've seen a cooling in the levels of demand for tradies, there are some pockets in Sydney where customers will pay significantly more for an hour of a tradies' time," Levitt said. 
"Tradies working in suburbs considered to be more affluent often increase their charge-out rates because they perceive their customers to be more capable of paying higher prices. In addition to this, these suburbs generally have a higher demand for renovation services."
A low supply of tradespeople above the "latte line" is also a factor, he noted.
"A lot of tradies are commuting from the south and west to the north and east for jobs," Levitt said.
Their hourly charge-out rates will incorporate overheads, including the cost of commuting along with insurance, vehicles, staff and tools.
The data also revealed some interesting pockets of low and high prices.
The cheapest prices for tradies are around the Blue Mountains, Milperra and Horsley Park where the average cost of a tradie is below $60 per hour.
There are also pockets of low charge-out rates in the north and east, which Levitt puts down to either "a low demand for renovation services or a perception that residents in these suburbs can't afford higher prices".
The data serves as a reminder to homeowners to shop around, Levitt said. 
"Renovators need to be sure to compare quotes and prices from numerous tradies to make sure they don't end up overpaying."
Click here <a href="https://www.propertyobserver.com.au/images/2019/2/25/Service-seeker.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Service-seeker.jpg" alt="">
Source: ServiceSeeking.com.au
The industries included in this analysis were: Source: ServiceSeeking.com.au
<ol>
<li>Handymen</li>
<li>Electrical Services</li>
<li>Plumbing</li>
<li>Carpenters</li>
<li>Painters</li>
<li>Concreters; and</li>
<li>Builders</li>
</ol>
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Same service, different price: how postcodes affect the cost of hiring tradies 

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GUEST OBSERVATION
Australia is the <a href="https://www.oecd-ilibrary.org/environment/municipal-waste/indicator/english_89d5679a-en" target="_blank">sixth-largest</a> contributor of household waste per capita in the world. We spend more than <a href="https://www.propertyobserver.com.au/http://www.tai.org.au/node/940" target="_blank">$A10.5 billion</a> annually on goods and services that are never or rarely used.
One-quarter of Australians admit to throwing away clothing <a href="https://au.yougov.com/news/2017/12/06/fast-fashion/" target="_blank">after just one use</a>, while at the other end of the extreme, 5% of the population save unused items with such tenacity that their homes become <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3181962/">dangerously cluttered</a>.
If unnecessary purchases come at such a profound cost, why do we make them?
Why do we buy so much stuff?
We acquire some possessions because of their perceived usefulness. We might buy a computer to complete work tasks, or a pressure cooker to make meal preparation easier.
But consumer goods often have a psychological value that outweighs their functional value. This can drive us to acquire and keep things we could do without.
Possessions can act as an <a href="https://www.propertyobserver.com.au/https://academic.oup.com/jcr/article/15/2/139/1841428" target="_blank">extension of ourselves</a>. They may remind us of our personal history, our connection to other people, and who we are or want to be. Wearing a uniform may convince us we are a different person. Keeping family photos may remind us that we are loved. A home library may reveal our appreciation for knowledge and enjoyment of reading.
Acquiring and holding onto possessions can bring us comfort and emotional security. But these feelings cloud our judgement about how useful the objects are and prompt us to hang onto things we haven’t used in years.
When this behaviour crosses over into hoarding disorder, we may notice:
<ol>
<li>a persistent difficulty discarding possessions, regardless of their actual value 
</li>
<li>that this difficulty arises because we feel we need to save the items and/or avoid the distress associated with discarding them 
</li>
<li>that our home has become so cluttered we cannot use it as intended. We might not be able to sit on our sofa, cook in our kitchen, sleep in our bed, or park our car in the garage 
</li>
<li>the saving behaviour is impacting our quality of life. We might experience significant family strain or be embarrassed to invite others into our home. Our safety might be at risk, or we may have financial problems. These problems can contribute to <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/bjc.12212" target="_blank">workplace difficulties</a>.</li>
</ol>
Will the KonMari method help?
According to Japanese tidying consultant <a href="https://www.booktopia.com.au/the-life-changing-magic-of-tidying-up-marie-kondo/prod9781607747307?zsrc=d-stocked&amp;gclid=Cj0KCQiAm5viBRD4ARIsADGUT25gYCqaxUUKyvskmVS_R-fO4F0c9K59vPwZsaLgO6fgwK57pQEWZpcaAkFVEALw_wcB" target="_blank">Marie Kondo</a>, “everyone who completes the KonMari Method has successfully kept their house in order”.
But while some aspects of the KonMari method are consistent with existing evidence, others may be inadvisable, particularly for those with clinical hoarding problems.
Kondo suggests that before starting her process, people should visualise what they want their home to look like after decluttering. A similar clinical technique is used when <a href="https://www.sciencedirect.com/science/article/abs/pii/S0005796711001872?via%3Dihub" target="_blank">treating</a> hoarding disorder. Images of one’s ideal home can act as a powerful amplifier for positive emotions, thereby increasing motivation to discard and organise.
Next, the KonMari Method involves organising by category rather than by location. Tidying should be done in a specific order. People should tackle clothing, books, paper, komono (kitchen, bathroom, garage, and miscellaneous), and then sentimental items.
Organising begins with placing every item within a category on the floor. This suggestion has an evidence base. <a href="https://www.sciencedirect.com/science/article/pii/S0165032717327167?via%3Dihub">Our research</a> has shown people tend to discard more possessions when surrounded by clutter as opposed to being in a tidy environment.
However, <a href="https://www.sciencedirect.com/science/article/abs/pii/S0005796710001075?via%3Dihub" target="_blank">organising</a> and categorising possessions in any context is challenging for people with hoarding disorder.
Marie Kondo gives sage advice about whether to keep possessions we think we’ll use in the future. A focus on future utility is a common thinking trap, as many saved items are never used. She encourages us to think about the true purpose of possessions: wearing the shirt or reading the book. If we aren’t doing those things, we should give the item to someone who will.
Another Kondo suggestion is to thank our possessions before we discard them. This is to recognise that an item has served its purpose. She believes this process will facilitate letting go.
However, by thanking our items we might inadvertently increase their perceived humanness. <a href="https://akademiai.com/doi/abs/10.1556/2006.7.2018.98" target="_blank">Anthropomorphising</a> inanimate objects increases the sentimental value and perceived utility of items, which increases object attachment.
People who are dissatisfied with their interpersonal relationships are more prone to <a href="https://www.sciencedirect.com/science/article/pii/S0191886918300461" target="_blank">anthropomorphism</a> and have more difficulty <a href="https://www.sciencedirect.com/science/article/pii/S0165178118318122" target="_blank">making decisions</a>. This strategy may be particularly unhelpful for them.
One of Kondo’s key messages is to discard any item that does not “spark joy”.
But for someone with excessive emotional attachment to objects, focusing on one’s emotional reaction may not be helpful. People who hoard things experience intense positive emotions in response to many of their possessions, so this may not help them declutter.
Think about how you get rid of things
<a href="https://www.sustainability.vic.gov.au/About-us/Latest-news/2019/01/10/23/21/Urgent-advisory-for-Netflix-inspired-declutterers" target="_blank">Sustainability Victoria</a> recently urged Netflix-inspired declutterers to reduce, reuse, and recycle rather than just tossing unwanted items into landfill.
Dumping everything into the op-shop or local charity bin is also problematic. Aussie charities are paying <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-10-04/charities-spending-millions-cleaning-up-fast-fashion-graveyard/10328758" target="_blank">A$13 million a year</a> to send unusable donations to landfill.
Ultimately, we need to make more thoughtful decisions about both acquiring and discarding possessions. We need to buy less, buy used, and pass our possessions on to someone else when we have stopped using them for their intended purpose.
Melissa Norberg, Associate Professor in Psychology, Macquarie University 
Jessica Grisham, Professor in Psychology, UNSW
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/my-possessions-spark-joy-will-the-konmari-decluttering-method-work-for-me-110357" target="_blank">original article</a>.
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Will the KonMari decluttering method work for me?

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More than 20 years after renovation show Changing Rooms first aired on TV, Channel 10 have commissioned a new series.
Natalie Bassingthwaighte (below) will reboot Changing Rooms as its host.
The renovation show will launch on television screens on February 13.
She holds a degree in interior design.
"Our new show will capture the essence and appeal of the original format and re-energise it, with strong storylines and more kitchen and bathroom reveals, which are proven favourites with Australian viewers," the network's chief content officer, Beverley McGarvey, said. 
Their new designers are Tim Leveson, Jane Thomson, Naomi Findlay and Chris Carroll.
Carroll is the director at Melbourne-based TLC Interiors, an interior design studio and home style blog.
Carroll helps clients and readers create amazing spaces regardless of budget. 
"Y'all ready for some amazing design on a tight budget?" Carroll said, adding that that's what he's been doing for years.
"I'm absolutely pumped to show it to you on the big screen," Carroll said.
The show begins on February 13.
"For ages I've been wishing a TV network would produce a series that shows everyday Aussies how to make their homes amazing without spending a fortune, and Channel 10 went and did it," Carroll said.
"The added bonus, of course, is that they cast me on the show to work my styling magic. No fights, (almost) no drama, but plenty of chipped nails and paint-covered hands (give me a manicure stat!)."
Caroll said that a personal level, a TV gig like this "is a dream come true for me," adding that he can't wait to show people you can have a designer home without the designer price tag. 
 
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jonathanchancellor-7SQnKwU6yx

Natalie Bassingthwaighte to reboot Changing Rooms

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<div class="_2vba1">
The Sydney investment banker Mark Carnegie has joined forces with Cornerstone Property Group's Michael Grant to convert his concerted Darlinghurst church home into a high-end tech space.
A $13.1 million development application has been lodged for the former 1926 First Church of Christ Scientist on Liverpool Street.
The adaptive use plans by SJB Architects seek an office building with open-plan shared spaces, nine basement care spaces and a rooftop terrace.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/15/Carn4.jpg" alt=""> A rendered image of the level one auditorium
<div class="ztzrw">
<div class="_3t7hh">
Grant's high-end conversion projects have included the Griffiths Teas Building, Surry Hills and the nearby residential-converted 1912 historic warehouse at No 1 Lacey.
The heritage home reportedly has a permit for conversion, approved by the City of Sydney in 2015 with prospect of having four apartments over ground floor office spaces and artist studios.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/15/Carn5.jpg" alt="">
A rendered image of the lower ground floor, formerly the Sunday School.
The latest plans for the adaptive reuse propose a two-storey addition, rather than the four proposed.
</div>
</div>
Carnegie and Grant will lease out the property.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/15/Carn3.jpg" alt=""> Another rendered image of the lower ground floor. 
Carnegie purchased the 2080 sqm property in 2010 for $8.75 million and refurbished it in 2011 into an award-winning home.
</div>
<div class="ztzrw">
<div class="_3t7hh">
Described as a light, raw, freestanding lightweight structure, Carnegie’s inner-Sydney contemporary abode is a 519-square-metre private residence.
The architectural desire was to leave the existing fabric untouched in the 1926 monumental Beaux Arts building designed by church member S. George Thorp from Peddle Thorp and Walker after the 2,080-square-metre Liverpool Street site was bought in 1923 for £9,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/15/Carn6.jpg" alt="">
</div>
</div>
The faith was established in Sydney in 1900 and recognised by the mother church in Boston in 1902. The first services at the new premises were in July 1927.
The building, including the pipe organ, cost about £30,000. The Beaux Arts style was usually applied to financial institutions to express wealth and stability. The church had an auditorium for 1,000 people. In the 1950s the congregation bought carriage lights from the old Sun-Herald building and installed them on the outside walls.
Architectural firm BatesSmart oversaw the project which was built in 14 weeks.
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jchancellor-FAypfDUnLy

Mark Carnegie seeks tech space offices to replace his residential 1926 Darlinghurst church conversion

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EXPERT OBSERVATION
Australia’s home renovations sector enjoyed its busiest quarter in 14 years during the three months to September 2018.
While GDP grew by a fairly disappointing 0.3% during the September 2018 quarter, home renovations activity provided more cheer.
The volume of renovations work rose by 4.5% during the quarter alone and was 11.0% higher than a year ago.
Times have often been tough for Australia’s home renovations market over the past decade but today’s figures show that the market is now bigger than at any time since mid-2004.
While new home building scaled new records over recent years, the performance of renovations activity has been quite puzzling and had failed to replicate this strong performance.
The stronger position of the renovations market during the September 2018 quarter is linked to the fact that interest rates are very low and remarkably stable at this time.
The tightening of credit conditions have prevented many families from being able to move house over the past year. It seems that some of those have decided to renovate their existing home instead.
Australia’s home renovations industry may be an unintended beneficiary of the tougher lending policies.
Looking further out, we are almost certain to see further gains for home renovations.
More detached houses were built in late 1980s Australia than at any time before or since.
More and more of these will be begging for major renovations work in the coming years.
SHANE GARRETT is the MBA Chief Economist.
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Australia's home renovations had the busiest quarter in 14 years: Shane Garrett

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EXPERT OBSERVER
Recent proposed changes to Boarding House legislation in NSW is pandering to elitists.
The NSW Department of Planning has issued a draft proposal to change the Affordable Rental Housing State Environmental Planning Policy 2009 in relation to the number of rooms permitted in boarding houses in R2 zones.
Boarding houses are an important source of affordable rental accommodation but it seems some communities would prefer them to be Not In My Backyard (NIMBY) and have put pressure on the government to minimise their impact.
The result is a draft proposal to limit the size of a new Boarding House to only 12 rooms in R2 areas.
If these changes are implemented they will make boarding houses unfeasible in many areas of Sydney where more affordable housing is desperately needed.
This proposal follows changes introduced in June 2018 to require 0.5 car spaces per room up from 0.2 spaces.
These additional onerous requirements greatly affect the feasibility of boarding house development resulting in a diminished supply of this type of affordable accommodation.
There is a clear shift in Sydney to rental housing as opposed to home ownership and this means governments must support Build to Rent models for long term rental accommodation as well as the more affordable new generation boarding houses.
The Urban Taskforce is concerned that the erosion of support for boarding houses that the current NSW Government is driving is making the feasibility of delivering this important contribution to housing affordability unsustainable.
The concerns of communities about this housing type can be handled through quality design so that boarding houses compliment the local character of an area.
We suspect however that the community concerns are more about objecting to the people who live in affordable rental housing than concerns about the buildings.
CHRIS JOHNSON is the Urban Taskforce CEO
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cjohnson-8xfqfuuCSq

Boarding house changes are pandering to elitists: Chris Johnson

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Burbank Homes has secured an accolade at the recent 2018 at the Master Builders Association New South Wales Excellence in Housing Awards.
The homebuilder secured the best ‘Exhibition/Project Home’ in the $400,001 - $500,000 price category for its Denman 257 display home in Googong.
Denman 257 offers 256 square metre properties priced from $400,001.
The Burbank Group Managing Director, Jarrod Sanfilippo, said the group was proud to be recognized for its work by its peers.
“We entered the New South Wales homebuilding market in 2016, building on our success in Victoria and Queensland, and have seen a strong response to our innovative home designs, particularly with first and second homebuyers,” said Sanfilippo.
“We are one of the only major homebuilders in NSW with a sloping lot design on display and this has proved to be popular as customers want to see what the design looks like first hand when embarking on challenging home builds.”
The Denman 257 display home is open at the Googong estate, Leon Street, Googong, New South Wales between 12pm – 5pm Monday to Friday and 11am – 5pm on weekends.
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Burbank Homes wins MBA of NSW award for Googong display home 

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GUEST OBSERVATION
A commonly held view is that changing planning rules could significantly increase housing supply and hence make housing more affordable. Recent commentary, <a href="https://theconversation.com/to-make-housing-more-affordable-this-is-what-state-governments-need-to-do-105050" target="_blank">including here</a>, repeats this. It’s a view that glosses over the special features of land, which allow property developers to control housing supply to a significant extent.
To understand what’s going on, we need to look at why land makes the housing market different from any other.
Economic theory and the special features of land
<a href="https://books.google.com.au/books?id=oACQM7HMDDoC&amp;pg=PA1658&amp;lpg=PA1658&amp;dq=land+is+not+a+homogeneous+product&amp;source=bl&amp;ots=7zrLO8-FDl&amp;sig=ymeg8EJNeO5A2_15zvWF3hir6gQ&amp;hl=en&amp;sa=X&amp;ei=_n4CVbD8HIjr8AXjxgI&amp;ved=0CB0Q6AEwAA#v=onepage&amp;q=land%20is%20not%20a%20homogeneous%20product&amp;f=false" target="_blank">Land has special features</a> that other goods don’t usually have. The most fundamental of these features is fixed location.
What’s more, land does not physically degrade over time. As a result, it doesn’t have to be sold but instead can be withheld from sale without financial cost.
These features are important when considering the application of standard supply-demand theory to housing markets.
Economic theory says increasing the supply of a good will lower the price for a given level of demand. Like a lot of economic theory, this is <a href="https://en.wikipedia.org/wiki/Perfect_competition" target="_blank">based on simplifying assumptions</a>. The following assumptions are particularly relevant when considering land:
<ul>
<li>the good is homogeneous</li>
<li>all market participants have full information about the market</li>
<li>no participant has an undue influence on the market</li>
<li>there are no barriers for new market participants.</li>
</ul>
However, we know that land is not homogeneous. Location is particularly important.
And property developers generally have much more knowledge of the market than individual buyers, potentially giving developers undue influence.
The capacity of developers to withhold land from sale and the fact that new developers wanting to enter the market face significant barriers – importantly the financial capacity to hold back land when demand and sales are reduced – are also at odds with the assumptions of supply-demand theory.
UK economist <a href="http://evonomics.com/josh-ryan-collins-land-economic-theory/" target="_blank">Josh Ryan-Collins notes</a> that current economic theory does not differentiate between land and capital (such as machinery). This may well be one of the main reasons the special features of land are often overlooked in discussions about housing supply.
Governments don’t control housing supply
<a href="https://www.prosper.org.au/2013/09/03/saul-eslake-50-years-of-housing-failure/" target="_blank">In the past, governments developed more housing directly</a>, but over the past 20-30 years the role of government has been mainly to enable private developers to provide housing.
Governments may release enough land for the expected population, but <a href="https://www.smh.com.au/business/companies/from-big-land-banks-little-things-grow-20120601-1znb4" target="_blank">private developers decide</a> how much housing is <a href="http://www.parliament.wa.gov.au/parliament%5Ccommit.nsf/%28Report+Lookup+by+Com+ID%29/F4088CA4544382084825793D00061BD2/%24file/30105662.pdf" target="_blank">offered for sale</a> at any time. It’s no secret that, for larger residential estates in particular, <a href="https://www.lmw.com.au/media/1369/gold-coast-residential-land-review-october-2016.pdf" target="_blank">demand dictates the rate at which lots are released</a> to market. This is a logical business strategy, but much of the commentary on housing supply fails to acknowledge this.
In the Gold Coast region, for example, where a relatively small number of larger estates provide most of the new residential land, the <a href="https://statistics.qgso.qld.gov.au/profiles/rlda/pdf/DZ4A2J5N7IOXGDVO39YD9X7VBGEUPH6YKQM08T3EY6W1HMYQUQYMKFWPFI5S0CLS8BXP7Z22FVERJ5L56CGAW3NZ9RS96P67HUQPL1S9LDE3LIVLVM2XG9SI2QYEO89X/rlda-profiles#view=fit&amp;pagemode=bookmarks" target="_blank">median price of vacant residential land has remained remarkably stable</a> since the GFC despite large fluctuations in the number of sales. This suggests something other than the standard supply-demand theory is operating.
As noted above, developers of new estates in outer areas can “drip-feed” the market to keep prices up.
For new apartments in established suburbs, off-the-plan sales allow developers to test the market before building. If interest in the apartments at prices set by the developer is insufficient, the project will not go ahead. Of course, there can still be an <a href="https://www.realestate.com.au/news/offtheplan-apartments-face-price-falls-as-market-supply-exceeds-demand/" target="_blank">oversupply of apartments</a> if future demand is overestimated.
Planning rule changes won’t make much difference to supply
Markets for residential land are distorted by three main factors:
<ul>
<li>location is very important</li>
<li>land is a not a homogeneous good</li>
<li>developers can influence supply.</li>
</ul>
This means that changing planning rules is unlikely to make much difference to housing supply or affordability. Housing supply can’t readily be increased without direct government construction. Even then developers will be likely to respond by restricting overall housing supply if they can.
With supply restricted, <a href="https://www.pc.gov.au/inquiries/completed/first-home-ownership/submissions/sub199/sub199.pdf" target="_blank">price is significantly influenced by demand factors</a>. These include finance interest rates, tax concessions and buyers’ expectations of future capital gains.
Therefore, policy that focuses on <a href="https://theconversation.com/tax-on-unearned-gains-is-the-missing-piece-of-the-affordable-housing-puzzle-77010" target="_blank">managing demand factors</a> offers much more hope of improving housing affordability than do changes to planning rules.
Brian Feeney, Adjunct Fellow, School of Earth and Environmental Sciences, The University of Queensland
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/land-makes-the-housing-market-different-so-changing-planning-rules-wont-fix-affordability-107182" target="_blank">original article</a>.
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