<p><a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.</p>

<p>A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.</p>

<p>Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360965]</p>

<p>“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.</p>

<p>From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.</p>

<p>The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360981]</p>

<p>Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.</p>

<p>A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.</p>

<p>Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360966]</p>

<p>Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.</p>

<p>“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.</p>

<p>Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360969]</p>

<p>Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.</p>

<p data-end="8307" data-start="8063">The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.</p>

<p data-end="8543" data-start="8312">“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”</p>

<p data-end="8915" data-start="8548">The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.</p>

<p>The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.</p>

<p>[smartcode_project_cta:default project_id=149670]</p>


Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

<p>A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.</p>

<p>The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.</p>

<p>Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.</p>

<p>The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.</p>

<p>The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.</p>

<p><img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" /></p>

<p>Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.</p>

<p>Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.</p>

<p>The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."</p>

<p>The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.</p>

<p><img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" /></p>

<p>Campbelltown has been starved of new residential developments in the last decade.</p>

<p>The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.</p>


First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

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<p>A 60-apartment building nine storeys tall would be a rarity almost anywhere along this stretch of Moreton Bay, but that's exactly what's been lodged for a modest Deception Bay street better known for its single-storey weatherboard homes.</p>

<p><a href="https://www.apartments.com.au/developers/sherlock-construction-homes">Sherlock Construction Homes</a> is seeking to push Deception Bay’s emerging medium-density housing profile higher, lodging plans for a nine-storey apartment building near the suburb’s shopping centre and foreshore.</p>

<p>Dubbed Grosvenor Apartments, the proposal at 14-20 Grosvenor Terrace would replace two detached homes with a new building designed by&nbsp;<a href="https://www.apartments.com.au/architects/mode">Mode Design</a>&nbsp;which would&nbsp;reach nearly 30 metres, well above the site’s mapped 21-metre building height.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="86c21a25-5a97-4ca7-a361-80757137ea5b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%20front.png?VersionId=aXIujfvEhH33sLHOEjHFv9Ii6qxSvAF4" /></p>

<p>The apartment mix is weighted toward larger homes, with 14 three-bedroom apartments, 31 two-bedroom apartments and 15 one-bedroom apartments. Six apartment types are spread across the floors, ranging from 66 sqm one-bedroom units through to three-bedroom apartments of 116 sqm, most with private balconies or terraces.</p>

<p>Levels one through seven follow a consistent layout of six to eight apartments per floor arranged around a central lift and stair core, with the top floor, level eight, trading one apartment for a landscaped community breakout space rather than repeating the standard layout below.</p>

<p>Ground floor is dedicated to arrival and services, with a lobby, mailroom and manager's office, alongside 91 car spaces.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="b098bde0-5fe1-4e6c-9601-e5446612e5fc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20podium.png?VersionId=A0hfENMNxSxkfh9Jl6D4WJ9XIraeOukA" /></p>

<p>Mode Design's brief describes a "serene coastal-inspired design blending soft curves, natural textures and light-filled spaces to reflect the relaxed Deception Bay lifestyle."&nbsp;</p>

<p>The material palette leans on white and grey render, timber-look aluminium screening and stacked-brick-look finishes, with hanging greenery and vine planting proposed across balcony edges and ground-level walls.&nbsp;</p>

<p>Balconies feature asymmetrical geometries intended to vary the building's rhythm rather than repeat a single module up the tower, while lush planting is concentrated over the entry and level one balconies to soften the building's base.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="c05c5693-3e00-42d0-b075-55c36094f4db" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%201.png?VersionId=cMKJgBsBaaVCd2dA5O22SOT38OT_.BPA" /></p>

<p>The design evolved following an April 2025 prelodgement meeting with council. At that stage, the project was conceived as a seven-storey building containing 45 apartments. The subsequently lodged scheme increases the development to nine storeys and 60 apartments while introducing one-bedroom residences to the mix.</p>

<p>Zone Planning argues the additional scale reflects the site's position within an area earmarked for increased residential intensity. The planning report points to the North Lakes-Redcliffe-Moreton Bay Rail corridor strategy, which identifies Deception Bay as a district-level activity centre and supports greater housing choice within urban neighbourhoods.</p>

<p>Market Square Deception Bay, Deception Bay Sports Centre, Deception Bay State School, public transport, community facilities and the Moreton Bay foreshore are all identified within approximately one kilometre of the site, while the property falls within a 400-metre walking catchment of Market Square.</p>

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

<p data-end="587" data-start="368">Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.</p>

<p data-end="778" data-start="589">The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.</p>

<p data-end="907" data-start="780"><a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.</p>

<p data-end="1908" data-start="1678">Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.</p>

<p data-end="2142" data-start="1910">The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.</p>

<p data-end="2142" data-start="1910"><img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" /></p>

<p data-end="2308" data-start="2144">MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.</p>

<p data-end="2648" data-start="2310">"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."</p>

<p data-end="3818" data-start="3664">MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.</p>

<p data-end="4076" data-start="3820">"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.</p>

<p data-end="4375" data-start="4078">"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."</p>

<p data-end="4910" data-start="4743">The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


First look at MAYD's North Kirra mixed-use precinct

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<p data-end="600" data-start="394">Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.</p>

<p data-end="1357" data-start="1161">It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.</p>

<p data-end="2269" data-start="2047">"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.</p>

<p data-end="2430" data-start="2271">A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.</p>

<p data-end="3400" data-start="3216">The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

<p>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.</p>

<p>That scale of eCommerce activity has fundamentally changed expectations around how and when parcels arrive, and what happens when someone isn't home.</p>

<h3>Problem solved with Parcel Lockers</h3>

<p>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.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/dVG5ChLHf7E?si=D9hQRGCBuzlSQBqK" title="YouTube video player" width="560"></iframe></p>

<p>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.</p>

<h3>How Parcel Lockers work</h3>

<p>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.</p>

<p>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.</p>

<h3>The scale of the network</h3>

<p>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.</p>

<p>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.</p>

<h3>What it means for developers and building operators</h3>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h3>Who's using them</h3>

<p>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.</p>

<p>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.</p>

<h3>The bigger picture</h3>

<p>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.</p>

<p>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.</p>


How Australia Post is solving the parcel problem for apartment living

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<p>Landscaping Victoria celebrated their 2016 Industry Awards and 50th Anniversary Gala recently with Formation Landscapes walking away with five awards.</p>
<p>Formation Landscapes won the Landscape of the Year award. Formation Landscapes put forward two projects across a number of categories. Across the two projects, Formation claimed Landscape Design Under 60sqm, Landscape Design Over 200sqm, Residential Construction over $300,000 and the Grant Saltmarsh Memorial Feature in the Landscape Award.</p>
<p><img src="/images/2016/10/18/Formation%202.jpg" alt=""></p>
<p>Formation took out Landscape of the Year for their Surrey Hills Project, deemed a "useable, low maintenance entertainment space incorporating a kid friendly zone, and year-round functionality by the judges. The project was seen to be "a fantastic balance of both hard and soft scape elements, completed to an impeccable level of detail".</p>
<p>The judges across all categories praised Formation for their "clever and well considered" approach to such a difficult site. </p>
<p>Entering the awards for the first time in their16 years of membership, Semken Landscaping won in the Landscape Management and Maintenance category for their Plenty Project.</p>
<p><img src="/images/2016/10/18/Semken%20Landscaping.jpg" alt=""></p>
<p>For the second year running, Jane Jones Landscapes took out the Plants in the Landscape award for their Kew Project with a garden that "invites exploration and shines with personality and life". Timandra Design and Landscaping was awarded the top prize in the Sustainable Landscape category for their Warrnambool Project, with a High Commendation going to Robert Boyle Landscape Design, who also took out the same award in the Plants in the Landscape category.</p>
<p><img src="/images/2016/10/18/Jane%20Jones.jpg" alt=""></p>
<p>Warrandale Industries won Commercial Landscape Construction under 500k for their Melbourne Zoo Lemur Project, as well for Hard Structures in the Landscape for their Grampians Hikers Camp Project. </p>
<p> <img src="/images/2016/10/18/Warrandale%20Industries.JPG" alt=""></p>
<p>PTA Landscapes won the Commercial Construction over 500k category, taking out the win for their Monash University Clayton Project.</p>
<p>Australian Ecosystems were awarded a High Commendation for their Ascot Vale Project.</p>
<p><img src="/images/2016/10/18/PTA%20Landscapes.jpg" alt=""></p>
<p>COS Design claimed victory in the Landscape Design 60-200sqm'category with their Canterbury Project and took out a commendation for their Caulfield Project in the same category.</p>
<p>COS Design also received two highly commendation nods in the Landscape Design under 60 sqm category, and Ccmmendations in both the 'Landscape Design over 200sqm category and the Grant Saltmarsh Feature in the Landscape category.</p>
<p><img src="/images/2016/10/18/COS%20Design.jpg" alt=""></p>
<p>Bayon Gardens took out the top prize in the Residential Construction under 50k category with their Camberwell Project, and a commendation in the Rising Star Category.</p>
<p><img src="/images/2016/10/18/Bayon%20Gardens.jpg" alt=""></p>
<p>Residential Landscape Construction 50 -150K was awarded to Esjay Landscapes for their Canterbury Project.</p>
<p><img src="/images/2016/10/18/Esjay%20Landscapes.jpg" alt=""></p>
<p>Apex Landscapes claimed victory in the Residential Landscape Construction 150 – 300K category for their Ascot Vale Project.</p>
<p><img src="/images/2016/10/18/Apex%20Landscapes.jpg" alt=""></p>
<p>This year's Rising Star award was presented to Landscape Plus, accepted by director Chris Keay. Awarded to a business less than 5 years of age, judges felt that Landscape Plus impressed the most with their business structure, knowledge and ambition. </p>
<p><img src="/images/2016/10/18/Landscape%20Plus.JPG" alt=""></p>
<p>In his acceptance speech Chris Keay thanked his partner for her support over the past 4.5 years and acknowledged the immense amount of hard work and sacrifice that goes into starting up a business and praised those companies who themselves had taken that leap.</p>
<p>Superior quality, excellent communication and consistent product supply saw Warners Nurseries take out the Supplier of the Year awards, while a joint win was presented for Apprentice of the Year to Erik Holt of Ian Barker Gardens</p>
<p><img src="/images/2016/10/18/Erik%20Holt.jpg" alt=""></p>
<p>and Thomas Conboy of Formation Landscapes,</p>
<p><img src="/images/2016/10/18/Thomas%20Conboy.jpg" alt=""></p>
<p>both impressing judges with their diverse, highly technical skill sets, early leadership beyond their years and responsibilities.</p>
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j.ballantyne1990-6AQqhLzZaK

Formation Landscapes scoops the pool as Landscaping Victoria celebrates 50 years

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<p>Melbourne-based property group and fund manager OpenCorp has acquired new sites to host its latest crowdfunded house and land developments.</p>
<p>Located in Greenvale, 20 kilometres north of the Melbourne CBD, the 168-lot subdivision site is positioned close to the company’s sold out Umbra development. It will be the 23rd project OpenCorp has funded through a property development fund.</p>
<p>Currently under construction, Umbra already is projecting good returns for investors. OpenCorp is currently anticipating a total return of 110% against the forecast of 58%. Its 41% internal rate of return sits against the forecast of 30%.</p>
<p>Like Umbra, investors in the Greenvale development would subscribe to an OpenCorp managed property development fund to participate as equity partners in the new $46 million project.</p>
<p>Based on the success of Umbra, 70% of the $11.4 million of the equity being raised for the development has been committed by one major Melbourne investor.</p>
<p>“They participated in the first Greenvale development and were eager to invest in the subsequent similar development,” says OpenCorp director Allister Lewison (pictured above centre).</p>
<p>OpenCorp have also closed its capital raising offer with the $3.5 million fund being considerably over-subscribed.</p>
<p>The new development fund is forecast to provide investors a total return of over 54%, or an internal rate of return close to 23%.</p>
<p>“Our development funds provide a great way for family offices, high net worth clients and retail investors to invest in developments when they don’t have the time, money or skills to do so themselves,” Lewison says.</p>
<p>“Our 10 year track record combined with average returns of over 20% per annum are proving very popular with small and large investors, given the returns from other asset classes.”</p>
<p>The new Greenvale development is expected to attract first homebuyers seeking a site to build a family home at an affordable price point in anticipation of the City of Hume’s continued rapid growth.</p>
<p>“The Melbourne market continues to remain very robust for quality developments in the right catchments,” Lewison says.</p>
<p>“The sub markets in which we operate are very much focused on strong demand and supply fundamentals.”</p>
<p>Greenvale is located a 30 minute drive from the Melbourne CBD and 10 minutes from Tullamarine Airport. </p>
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Crowdfunding property developer OpenCorp acquires second Greenvale site

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<p><span>The six-hectare NSW Southern Tablelands property Kiloren, with intact Edna Walling gardens, has finally sold.</span></p>
<p>It was in 1982 gardening author Jennie Churchill and her husband, vet Rob Churchill, took over the Crookwell garden with the <a href="https://www.kiloren.com" target="_blank">best named gardener in the land</a>.</p>
<p><span>There were four parties interested at the end with the property sold to a couple from Canberra.</span></p>
<p><span>Jennie sayes she is confident they will care for the garden beautifully. </span></p>
<p><span>The garden was installed by Walling in 1951, surrounding the three bedroom John Mansfield designed house, which was built for the Broadbent family.</span></p>
<p><span>Walling was familiar with the climate given her nearby Markdale, Binda commission for the Ashton family in the late 1940's.</span></p>
<p><span>The classic Walling features include basalt walls and pathways softened by relaxed planting.</span></p>
<p><span>She described the garden as one of her less formal designs and said she brought plants from her own nurse at Bickleigh Vale near Melbourne, where she has a cottage within the grounds.</span></p>
<p><span>Jennie and her husband will be moving back to their Potts Point base and continue with plans for a Tasmanian retreat.</span></p>
<p><span>Around $980,000 was being sought. </span></p>
<p><em>This article was first published in the Saturday Daily Telegraph.</em></p>
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jonathanchancellor-7SQnKwU6yx

Edna Walling garden at Southern Tablelands finally sold

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<p><span>Melbourne's first interactive playground Harmony Garden has been revealed at Point Park on Yarra's edge, just moments from Melbourne's CBD.</span></p>
<p><span>The interactive playground, created by real estate investment group Mirvac, allows children to compose music using sculptural bells and gongs which are integrated into a playground environment.</span></p>
<p><span>Constructed from timber, the large wall features 16 stainless steel gongs, eight anodised aluminium harmonic bells and three cube drumming seats that combine to create an interactive musical instrument spanning 11 metres.</span></p>
<p><span>The innovative playground was designed by co-creator of Birrarung Marr's Federation Bells Neil McLachlan, artist and sculptor Emilia Storm and landscape designer Simon Ellis.</span></p>
<p><span>Dotted throughout the landscaped park are 11 multi-sensory interactive bell sculptures inspired by indigenous coastal plantings and situated within native gardens.</span></p>
<p><span>Children use a specially-engineered colourful soft plastic stamen to play the bells.</span></p>
<p><span>Mirvac’s Head of Residential, John Carfi, said the Harmony Garden will be a unique and fun way to bring children and adults together.</span></p>
<p><span>Federation Bells co-creator, Neil McLachlan, also an Associate Professor at the University of Melbourne School of Psychological Sciences, said the park would encourage children to play cooperatively.</span></p>
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jrobinson-rf4aSBido9

Mirvac unveils Melbourne's first interactive musical playground at Yarra's edge

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<p>The NSW Government is set to sell its Land and Property Information (LPI) unit in 2016.</p>
<p>NSW has JPMorgan undertaking a scoping study on the sale, according to the Australian Financial Review column, Street Talk. </p>
<p>LPI provides all mapping, titles and other related land information services for NSW.</p>
<p>While the sale of the state's LPI would be the first sale of its kind in Australia, Victoria and South Australia are also consider selling their own land titles offices. </p>
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<p>The AFR suggest that the NSW LPI is likely to be worth $500  million.</p>
<p>In 2014-15 some 900,000 plus dealings were lodged for registration, marking a 6.7 per cent increase on already strong volumes in the previous financial year.</p>
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jchancellor-FAypfDUnLy

NSW LPI to be sold with $500 million hopes

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<p><span style="line-height: 1.3em;">Property Observer has sought sales and listings over recent months highlighting the beauty of the jacaranda.</span></p>
<p><span style="line-height: 1.3em;">Here's our latest finds.</span></p>
<p><span>1. <span><a href="https://www.realestateview.com.au/Real-Estate/jacaranda-estate-lot-48-45-lancashire-drive-mudgeeraba/Property-Details-buy-residential-9785743" target="_blank">Lot 48, 45 Lancashire Drive, Mudgeeraba, QLD</a> (below)</span></span></p>
<p><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/2015/11/18/700_jac1.jpg" alt="" width="519" height="315"> </p>
<p><span>The property in Ascot was a no brainer for top spot.</span></p>
<p><span>Simply entitled 'Jacaranda', the gated estate compromises of land and house space, with this townhouse the last of the lot.</span></p>
<p><span>The four bedroom, two bedroom house is on the market for just over $540,000.</span></p>
<p><span>The estate features a jacaranda at every turn.</span></p>
<p><span>2. <span><a href="https://www.realestateview.com.au/Real-Estate/24-roger-street-muswellbrook/Property-Details-buy-residential-9760204" target="_blank">24 Roger Street, Muswellbrook, NSW</a> (below)</span></span></p>
<p><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/2015/11/18/jac2.jpg" alt="" width="552" height="335" style="line-height: 1.3em;"></p>
<p><span>The 898 sqm property is nestled behind a lavish jacaranda tree.</span></p>
<p><span>The three bedroom, one bathroom home is on the market for $320,000</span></p>
<p><span>3. <span><a href="https://www.realestateview.com.au/Real-Estate/6-pagottos-ridge-road-north-lismore/Property-Details-buy-residential-9759488" target="_blank">6 Pagattos Ridge Road, North Lismore, NSW</a> (below)</span></span><span style="line-height: 1.3em;"> </span></p>
<p><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/2015/11/18/jac4.jpg" alt="" width="486" height="295"></p>
<p><span>The three bedroom, one bathroom property includes 2.79 hectares of land.</span></p>
<p><span>The back garden of the property features an outside decking and views of the blooming jacaranda's</span></p>
<p><span>4. <span><a href="https://www.realestateview.com.au/Real-Estate/9-orville-street-malvern-east/Property-Details-buy-residential-8520422" target="_blank">9 Orville Street, Malvern East, VIC</a> (below)</span></span></p>
<p><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/2015/11/18/jac5.jpg" alt="" width="413" height="251"></p>
<p><span style="line-height: 1.3em;">Another property that sits behind an imposing jacaranda. </span></p>
<p><span>The property features two bedrooms and one bathroom and is currently under offer, however was previously on the market for $1.69 million.</span></p>
<p><span>5. <span><a href="https://www.realestateview.com.au/Real-Estate/10-prosper-parade-glen-iris/Property-Details-sold-residential-9381214" target="_blank">10 Prosper Parade, Glen Iris, VIC</a> (below)</span></span></p>
<p><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/2015/11/18/jac6.jpg" alt="" width="504" height="306"></p>
<p><span>The property has been architecturally designed to make the most of the lavish gardens surrounding the home.</span></p>
<p><span>The outdoor decking is met by vibrant jacaranda's in spring. </span></p>
<p><span>The property sold at auction in September with the price undisclosed.</span></p>
<p><span>6. <span><a href="https://www.realestateview.com.au/Real-Estate/4-6-gardenvale-drive-coes-creek/Property-Details-sold-residential-8556534" target="_blank">4-6 Gardenvale Drive, Coes Creek, QLD</a> (below)</span></span></p>
<p><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/2015/11/18/jac7.jpg" alt="" width="525" height="319"></p>
<p><span>Mature jacaranda tress surround the 1754 sqm block and keep privacy to a maximum.</span></p>
<p><span>The three bedroom property was sold for $450,000 in October. </span></p>
<p><span style="line-height: 1.3em;"> </span></p>
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Jacaranda's ablaze in property offerings

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<p><span style="line-height: 1.3em;">All 46 lots offered in the final release of Mirvac's Schofields master-planned development were sold out on the weekend.</span></p>
<p><span>More than 700 people registered interest in the blocks, which started at $399,900 for a 324-square-metre block.</span></p>
<p><span>Some were offered as house-and-land packages starting at $670,500 in the <a href="https://theavenue.mirvac.com/" target="_blank"><span>393-lot development</span></a>.</span></p>
<p><span>Six new home designs were launched at <a href="https://theavenue.mirvac.com/about/overview/" target="_blank"><span>The Avenue </span></a>in late June 2015.</span></p>
<p><span>Mirvac's head of residential, John Carfi, said The Avenue was set within the government's north-west growth sector which has benefited from investment in infrastructure including the Schofields train station, new schools and roads.</span></p>
<p><span>"The Avenue blends the peace of rural tranquility with the convenience and rich amenity of an established urban neighbourhood," the marketing suggested. </span></p>
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 Sellout in Schofields on The Avenue

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<h3 class="post-title entry-title"><strong style="color: #333333; font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.3em;"><span style="text-decoration: underline;">Consumption and deleveraging</span></strong></h3>
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<div>An interesting speech from Dr. Christopher Kent, Assistant Governor of the Reserve Bank of Australia (RBA) in Canberra.</div>
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<div>The speech noted that household consumption has responded to low interest rates since 2013, but in a less strong manner than might have been expected.<br><br>Let's take a look at three of the main observations raised...<br><br><strong><span style="text-decoration: underline;">Part 1 - The balance sheet and wealth channels ("aka. Equity withdrawal, mate")</span></strong>
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<div>One of the drivers for a less strong consumption response through this cycle has been the diminished role of housing equity withdrawal.</div>
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<div>In the first half of the 2000s households withdrew significant equity to finance their consumption, but this no longer appears to be occurring on such a widespread basis, according to the Reserve Bank's data.</div>
<div> </div>
<div>In fact in recent years household net spending on assets has exceeding borrowing.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-B1H_R0K_1UU/VX692piqWgI/AAAAAAAAWIA/fZS-HIftYAY/s400/RBA1.jpg" width="365" height="400"></div>
<div class="separator"> </div>
<div class="separator">The evidence here suggests that the so-termed "wealth channel" - rising household wealth boosting consumption - has not been as effective to date as in cycles past.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">Part 2 - The cash-flow channel - household balance sheets and buffers</span></strong></div>
<div class="separator"> </div>
<div class="separator">Of course, it is well known that Australian households are net borrowers on average. </div>
<div class="separator"> </div>
<div class="separator">However, the RBA's figures also show that while households' interest earning assets (such as bank deposits) have risen strongly as a share of disposable income over recent years - even exclusive of superannuation - interest bearing liabilities have not.</div>
<div class="separator"> </div>
<div class="separator">In fact, household liabilities as a share of household disposable incomes have been steady for some years now.</div>
<div class="separator"> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-ZUlS798T_sM/VX6_I-lCS6I/AAAAAAAAWIo/JSStEaFE5C0/s400/RBA6.jpg" width="365" height="400"></div>
<div class="separator"> </div>
<div class="separator">How so? This is thanks in part to record low borrowing rates, with aggregate mortgage buffers apparently soaring to record levels and many households evidently electing to pay down their debt faster, known as "deleveraging".</div>
<div class="separator"> </div>
<div class="separator">I believe that this is in part due a mechanism whereby mortgage repayments are held steady even in the event of downward adjustments to interest rates on variable rate products, something which is perhaps unique to Australia.</div>
<div class="separator"> </div>
<div class="separator">Average mortgage prepayments are rapidly approaching an incredible 30 months, while as a share of housing loans outstanding aggregate mortgage buffers have soared to well over 15 per cent, which is remarkable if true.</div>
<div class="separator"> </div>
<div class="separator">In short, through this interest rate easing cycle more households appear to have moved further ahead on their mortgage repayments.</div>
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<div class="separator"><img src="https://3.bp.blogspot.com/-_GJEDSZ7SqE/VX692rQKzvI/AAAAAAAAWIE/9XIu_L5yvgE/s400/RBA2.jpg" width="400" height="336"></div>
<br><div class="separator">It is often said that Australians are holding "record high" household debt, but the Reserve Bank charts claim that this fails to acknowledge the increasing role of offset accounts and investor credit.</div>
<div> </div>
<div>When offsets and credit are included in the statistics household credit as a percentage of household income has actually declined by 4 percentage points over the past half decade, noted Dr. Kent.</div>
<br><div class="separator"><img src="https://1.bp.blogspot.com/-ylZP5atiPzc/VX693VMvFDI/AAAAAAAAWIM/zo96JKlK40g/s400/RBA4.jpg" width="372" height="400"></div>
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<div class="separator"><strong><span style="text-decoration: underline;">Part 3 - The supply side</span></strong></div>
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<div class="separator">As is typical, dwelling construction, being the most interest rate sensitive sector of the Australian economy, is responding strongly to easier monetary policy, with building approvals now at their highest level on record and dwelling investment up by 9 per cent over the past year.</div>
<div class="separator"> </div>
<div class="separator">This will likely put downward pressure on apartment rents and prices in some regions.</div>
<div class="separator"> </div>
<div> </div>
<div>However, one eminent challenge is that the supply of greenfield land in the Sydney region (inclusive of Newcastle and Wollongong) in particular, and also in south-east Queensland (Brisbane, Gold Coast, Sunshine Coast), has plummeted to extremely low levels, which is putting significant upwards pressure on land values.</div>
<div> </div>
<div>In Sydney the stock of suitable sites for apartments has been depleted too in recent years.<br><br>With a dearth of suitable sites to build either houses or apartments, the Reserve notes the risk of a material spike in dwelling prices caused by the inadequate supply.</div>
<div class="separator"><img src="https://4.bp.blogspot.com/-4HOM_XSDTV0/VX692otsOCI/AAAAAAAAWII/ktRH_sGI00Y/s400/RBA3.jpg" width="386" height="400"></div>
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<div class="separator"><span>A parallel challenge is that with the residential construction industry pushing towards full capacity, this is likely to result in inflation of land and construction work, potentially "<em>pushing up the prices of new and existing dwellings, </em><span><em>via increases in land prices, construction wages, developers' margins or some combination of all three</em>"</span>.</span></div>
<div class="separator"> </div>
<div class="separator">While labour shortages have not bitten particularly hard to date despite some skills shortages arising, rising demand for building materials has already pushed the rate of inflation for new dwelling costs fully two points above its average for the inflation-targeting period (i.e. since 1993).</div>
<div class="separator"> </div>
<div class="separator">This is somewhat agitating since the residential construction boom is still in its infancy, relatively speaking.</div>
<div class="separator"> </div>
<div>Furthermore, alterations and additions (i.e. major renovations work) could easily pick up further, further accentuating materials shortages.</div>
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<div class="separator"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
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<div class="separator">Dr. Kent's speech concluded that consumption has picked up in Australia since 2013, and monetary policy is working as it should, to some extent.</div>
<div class="separator"> </div>
<div class="separator">However, many households are also electing to pay down their debts faster, and this is having some dampening effect on the strength of the consumption response experienced to date.</div>
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<em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br><p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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pwargent-M4siyDbqQY

RBA suggests squeezed land supply could spike prices: Pete Wargent

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<p><span>GUEST OBSERVER</span></p>
<p><span>Inspired by Robert Shiller’s best seller, <em>Irrational Exuberance</em>, I developed the Jamie Durie Index (JDI) over a decade ago, which represented the number of times the name ‘Jamie Durie’ appeared in newspapers and magazines.  Shiller’s book suggested that the media typically play an important role in propagating asset price booms.  </span></p>
<p><span>Jamie Durie -host of top rating TV show, <em>The Block</em> - was the poster boy of Australia’s property market culture and the JDI was designed to measure the media attention and chatter surrounding property.  As it happened, the JDI correlated closely with the cycle in house prices, with both peaking in 2003.</span></p>
<p><span>At the time, Australian property was booming, stories of house price gains achieved in no time with an assist from plenty of debt dominated dinner party conversation, and Australia was rapidly becoming a nation of home renovators, inspired by Jamie Durie and shows like <em>The Block</em>.</span></p>
<p><span>Fast forward to 2015 and <em>The Block</em> has come a long way, having out-lived its original host.  In its initial form, it survived only two seasons.  After a six year absence, the Nine Network re-introduced the show in 2010, which has been hosted by Scott Cam ever since.  Despite the 20% lift in average home values in the past three years, <em>The Block</em> and other home renovation shows – including House Rules and Reno Rumble - haven’t hit the heights of a decade earlier.</span></p>
<p><span><strong>The rise and rise of home renovation shows...</strong></span></p>
<p><span>The recently appointed Treasury Secretary, Mr John Fraser, has weighed in on the debate about whether there is a bubble in property prices, suggesting that the plethora of home renovation television shows represents compelling evidence of over-investment in housing.  While there might be signs of a property market culture re-emerging, we need to tread carefully about drawing strong inferences about a property bubble for a number of reasons.</span></p>
<p><strong><span>...but little sign of a speculative frenzy</span></strong></p>
<p><span>First, a shift in consumer attitudes and tastes has contributed to the proliferation of home renovation shows.  For instance, the growing popularity of cooking shows, including Master Chef and My Kitchen Rules, together with the emergence of the celebrity chef, is largely due to the renewed interest in food and home cooking and a waning interest in processed foods.  Is anyone suggesting there is a bubble in home cooked food?</span></p>
<p><span>Second, the aggregate data doesn’t point to over-investment in housing, just yet.  Private sector dwelling investment has lifted to a little above 5% of GDP, but this remains well below prior peaks of around 6½% (see chart).</span></p>
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<p><span>Third, despite the growing interest in home renovation shows, this has not yet translated into a lift in the share of their budgets that consumers devote to home renovations.  That much is obvious from the fact that the value of renovations declined to 1.8% of GDP in 2014, well below the peak of 2.7% of a decade ago and its lowest level in more than twenty years (see chart).  To put this in context, had the value of renovations accounted for 2.7% of GDP in 2014, this would have translated into a dollar value of $43 billion, well above the actual spending on renovations of $30 billion, representing a shortfall of over $10 billion.</span></p>
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<p><span>The academic literature confirms that the level of home improvement activity provides a valuable insight into home owners' expectations of future price growth.  In a paper published in the Journal of Financial Economics, Harrison Hong and other researchers from Princeton show that in the United States, homeowners who are optimistic about future house prices are more likely to speculate on future price growth by renovating.</span></p>
<p><span>Fourth, increased liquidity, a pre-requisite for speculative bubbles according to Shiller, has been absent to date.  In fact, the annualised turnover rate of the stock of housing has declined to 4%, around half its level from a decade ago (see chart).  Normally, turnover rises with house prices because greater home equity encourages home-owners to trade up to more expensive homes and vendors who observe higher turnover infer that demand has picked up and lift their reserves.</span></p>
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<p><span>The RBA speculates that various factors underpin muted housing turnover: the unusually low participation of owner-occupiers in housing market transactions and growing evidence that homeowners have become more reluctant to borrow against increases in net wealth to trade up homes.  Hardly ingredients of a property bubble.</span></p>
<p><strong><span>Tipping point for a bubble has not been reached...yet</span></strong></p>
<p><span>Despite the proliferation of home renovation shows on Australian television, signs of a re-emerging property market culture, and strong upswing in Sydney and Melbourne property prices, the modest level of renovation activity, low turnover in the housing stock and the fact that private sector dwelling investment is in line with historical norms suggests that the property market does not yet share the speculative elements that prevailed during the boom of the early 2000s.</span></p>
<p><span>Back then people renovated to cash in on the soaring equity in their home so they could trade up to bigger places.  Now, the reality has set in that the transaction costs of moving are too high and households are more realistic about their expectations of capital growth.  If there does exist a tipping point for the emerging property market culture to morph into a speculative frenzy of over-investment, I believe that we are not there yet.</span></p>
<p> </p>
<p>Founder of Evidente, <a href="https://www.evidente.com.au" target="_blank">Salvatore (Sam) Ferraro</a>, is a top rated quantitative analyst and has over 17 years of experience in financial markets, with investment banks, Goldman Sachs and Merrill Lynch, providing advice on best practice to portfolio managers and as a senior portfolio manager for a boutique funds management firm, covering banks, insurers, utilities and infrastructure stocks. </p>
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Are the Jamie Durie devotees really to blame for the 2015 over-investment property boom?

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<p>The Channel 7 Tasmanian House Rules contestants,<span style="line-height: 1.3em;"> Cassie and Matt have a $248,000 mortgage, the second smallest so far of the revealed prizes.</span></p>
<p>Cassie and Matt bought their affordable, quirky 1960s home, which they’ve come to adore.</p>
<p>Nothing had been done since it was built in the <span>Geilston Bay suburb</span>.</p>
<p><span>They are in the third series of the Channel 7 reno show, in which six teams from around Australia have their homes renovated room by room by opposing teams.</span></p>
<p><span>It has often won the night in ratings since it debuted last month.</span></p>
<p><img src="https://s.yimg.com/iu/api/res/1.2/Hm.Egawcln49nqn3ChKNUg--/YXBwaWQ9eXZpZGVvO2ZpPWZpbGw7dz04Njg7cT05MDtuPTE7cm90YXRlPWF1dG8-/https://s.yimg.com/ea/img/-/150529/tas_house_final_1amfl5v-1amfl65.jpg"></p>
<p>W<span>ith Tassie’s cold temperatures, the couple would love for their house to be insulated.</span></p>
<p>The pair met 10 years ago, but it wasn't until five years later they began a relationship.</p>
<p>In 2014 they bought their first home together in the Hobart suburb. It comes w<span style="line-height: 1.3em;">ith its pink bathroom, purple bedroom and fluorescent green carpet.</span></p>
<p><span style="line-height: 1.3em;">"We want to preserve the character of the home; maintain that 1960s feel but modernise it," Cassie said.</span></p>
<p><span style="line-height: 1.3em;">"My mum and dad's first house was in the same suburb so we see it being our forever home," Cassie says.</span></p>
<p>Cassie is a pharmacist and <span style="line-height: 1.3em;">Matt is a swim instructor who's studying to become a P.E teacher.</span></p>
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