<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

[smartcode_project:default project_id=140747 project_image_fid=367540]

The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

[smartcode_project:default project_id=140747 project_image_fid=367529]

Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

[smartcode_project_cta:default project_id=140747]

Joel Robinson

Smith by Valli delivers a refined collection of luxury residences to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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GUEST OBSERVATION
The growth of the human population over the last 70 years has exploded from 2 billion to nearly 8 billion, with a compounding net growth of over 30,000 per day. We all breathe out carbon dioxide with every breath. That equates to about 140 billion CO₂ breaths every minute. Isn’t it logical that atmospheric carbon will continue to increase with the birth rate regardless of what we do about fossil fuel reduction?
This question touches on the core of our impact on planetary change. It highlights the exponential growth in the human population, but also homes in on the potential direct input of carbon dioxide from humans, through respiration.
As I explain in more detail below, our breathing does not contribute to the net accumulation of carbon dioxide in the atmosphere. But population growth, combined with an increase in consumption, is now seen as the <a href="https://www.stockholmresilience.org/research/research-news/2015-01-15-new-planetary-dashboard-shows-increasing-human-impact" target="_blank">main driver of change in the Earth system</a>.
Humans: a moment in geological time
Earth has been around for 4.56 billion years. The <a href="https://www.livescience.com/1804-greatest-mysteries-life-arise-earth" target="_blank">earliest evidence for life on Earth</a> comes from fossilised mats of cyanobacteria that are about 3.7 billion years old.
From around 700 million years ago, and certainly from 540 million years ago, life exploded into its present myriad forms, from molluscs to lung fish, reptiles, insects, plants, fishes and mammals – culminating in hominids and finally Homo sapiens. Genetic studies suggest <a href="https://www.nature.com/scitable/knowledge/library/overview-of-hominin-evolution-89010983/" target="_blank">hominids evolved from primates around 6 million years ago</a>, with the oldest hominid fossil dating from 4.4 million years ago in East Africa.
Our species appeared around 200,000 to 300,000 years ago, a blink of an eye in geological terms. From Africa, Homo sapiens migrated through Europe and Asia and spread across the world, at lightning speeds.
Part of the question is about a putative link between human biological functions and climate. Homo sapiens is <a href="https://journals.plos.org/plosbiology/article?id=10.1371/journal.pbio.1001127" target="_blank">one of more than 28 million living species today</a>, and some <a href="https://link.springer.com/chapter/10.1007/978-94-011-5874-9_7" target="_blank">35 billion species that have ever lived on Earth</a>. There has always been a link between life and Earth’s atmosphere, and perhaps the clearest indicator is oxygen.
Life, carbon and climate
Cyanobacteria were the first organisms to master photosynthesis and <a href="https://www.propertyobserver.com.au/https://www.pnas.org/content/96/20/10955" target="_blank">began adding oxygen to Earth’s early atmosphere</a>, producing levels of 2% by 1 billion years ago. Today oxygen levels are at 20%.
While people inhale oxygen and exhale carbon dioxide (billions of tonnes each year), this does <a href="https://slate.com/news-and-politics/2009/08/are-you-heating-the-planet-when-you-breathe" target="_blank">not represent new carbon in the atmosphere</a>, but rather recycled carbon that had been taken up by the animals and plants we eat. Furthermore, the hard parts of human skeletons are potential carbon stores, if buried sufficiently deep.
There is a constant cycling of carbon between geological, oceanographic and biological processes. Homo sapiens is part of this carbon cycle that plays out at the Earth’s surface. Like all living organisms, we derive the carbon we need from our immediate environment and give it up again through breathing, living and dying.
Carbon is only added to the atmosphere if it is taken out of long-term geological stores such as carbon-rich sediments, oil, natural gas and coal.
Planetary impact of humans
But the <a href="https://ourworldindata.org/world-population-growth" target="_blank">remarkable growth in human population</a> is surely the critical issue. Ten thousand years ago, there were 1 million people on Earth. By 1800, there were 1 billion, 3 billion by 1960 and almost 8 billion today.
When these figures are plotted on a graph, the growth line looks almost vertical from the 1800s onwards. <a href="https://www.pewresearch.org/fact-tank/2019/06/17/worlds-population-is-projected-to-nearly-stop-growing-by-the-end-of-the-century/" target="_blank">Population growth may eventually flatten out</a>, but only at around 10-11 billion.
Alongside the unprecedented population growth of humans has been the <a href="https://www.ipbes.net/news/million-threatened-species-thirteen-questions-answers" target="_blank">loss of many non-human species</a> (10,000 extinctions per million populations per year, or <a href="https://www.theguardian.com/environment/2018/oct/30/humanity-wiped-out-animals-since-1970-major-report-finds" target="_blank">60% of animal populations since 1970</a>), the rapid loss of wilderness habitat and consequent growth in farmed land, over-fishing (with up to <a href="http://blogs.edf.org/edfish/2012/07/11/fao-reports-87-of-the-worlds-fisheries-are-overexploited-or-fully-exploited/" target="_blank">87% of fisheries fully exploited</a>), and a staggering growth in global car numbers (from zero in the 1920s to 1 billion in 2013 and a projected <a href="https://www.weforum.org/agenda/2016/04/the-number-of-cars-worldwide-is-set-to-double-by-2040" target="_blank">2 billion by 2040</a>).
The <a href="https://www.usgs.gov/centers/nmic/copper-statistics-and-information" target="_blank">world production of copper</a> is an instructive proxy for human global impacts. As with many commodity curves, the trend from 1900, and particularly from the 1950s, is exponential. In 1900 around half-a-million tonnes of copper was produced worldwide. Today it is 18 million tonnes per year, with no sign of lowering consumption rates. Copper is the feedstock for much of modern-day and future green technologies.
Most parts of the world now experience material consumption as never before. But serious inequality remains, with over <a href="https://www.worldbank.org/en/news/press-release/2018/10/17/nearly-half-the-world-lives-on-less-than-550-a-day" target="_blank">3 billion living on less than US$5.50 a day</a>, and a <a href="https://www.oxfam.org/en/press-releases/just-8-men-own-same-wealth-half-world" target="_blank">tiny percentage who own so much</a>.
Some argue that it is not the numbers of people on Earth that count, but rather the way we consume and share. Whatever the politics and economics, the gross consumption level of billions of humans is, surely, the main cause of planetary change, especially since 1950. Present-day atmospheric levels of carbon dioxide are one of many symptoms of human impact.<img src="https://counter.theconversation.com/content/126671/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Michael Petterson, Professor of Geology, Auckland University of Technology.
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/climate-explained-how-growth-in-population-and-consumption-drives-planetary-change-126671" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Climate explained: how growth in population and consumption drives planetary change

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A two-level freehold within Toorak Village, one of Melbourne’s most tightly held retail shopping strips, has hit the market. 
The property will be auctioned November 29.
Located at 472 Toorak Road, the property comprises a 110 square metre building with ground floor shop front, commercial kitchen and rear courtyard.
The first floor, which can be separately accessed from the rear, includes an open-plan layout with a kitchenette and bathroom. 
The 139 square metre site zoned Commercial 1 has 4.6 metres frontage to Toorak Road and rear laneway access to a lock up garage with parking.
There is also a permit for an additional level at the rear.  
Commercial 1 zoning aims to create vibrant mixed use commercial centres for retail, office, business, entertainment, community and residential uses.
The property will be offered with vacant possession.
It is situated directly opposite the Vicland Property Group’s proposed $600 million commercial re-development of Village Way, which is set to house circa 12,000 square metres of office space and a ground floor Coles supermarket.
Teska Carson’s Luke Bisset and Jack Kelliher have the listing. 
"This property offers excellent investment credentials including a highly regarded retail and commercial location within Melbourne’s wealthiest suburb, with vacant possession and first rate access and exposure via Toorak Road frontage and a rear laneway," Bisset said.
Toorak Village has more than 270 shops and businesses including fashion boutiques, cafes, fine dining, and highly regarded medical and professional services.
It is well serviced by public transport facilities including Toorak and South Yarra railway stations, trams and major arterial routes.
Kelliher said the local retail sector thrived on the back of a predominantly young and affluent demographic.
He said the locality had been the beneficiary of major redevelopment over recent years including more than 3000 apartments, either currently under construction or recently completed. 
It is being offered vacant possession.
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Vacant two-level Toorak Village freehold on the market

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Sydney's Pitt Street Mall has held on to its position as the seventh most expensive retail strip in the world in Cushman &amp; Wakefield's Main Streets Across the World report.
Retail rents on the exclusive row of shops have increased nearly 18 per cent over the year to $16,500 per sqm.
The rents grew more than any other location in the top 10 ranked locations. The likes of Zara, Oroton and Carla Zampatti are located in the pricey precinct.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/11/13/world%20wide%20retail%20strips.jpg" target="_blank">click here</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/2019/11/13/world%20wide%20retail%20strips.jpg" alt="">
Pitt Street has recently welcomed luxury skin care giant Aesop, who have introducted an amphitheatre for customers within their new global flagship store which set a new record for retail rents on Pitt Street Mall. 
Matt Hudson, the national director of retail leasing at Cushman &amp; Wakefield Australia and New Zealand said rents in Sydney’s retail core have reached new highs as retailers focus on evolving the customer experience and trialling new store formats to attract shoppers. 
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Hong Kong's Causeway Bay hung on to top spot as the world's most expensive with average rents of $42,065 sqm.
It's the second year in a row Causeway Bay has claimed top spot, following a five year dominance by New York's Upper 5th Avenue which has rents at $34,399 per sqm.
London's New Bond Street makes the top three, some way off, at $26,281 per sqm.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/11/13/Asia%20Pacific%20retail%20strips.jpg" target="_blank">click here</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/2019/11/13/Asia%20Pacific%20retail%20strips.jpg" alt="">
Pitt Street Mall ranked third in the Asia Pacific list of most expensive retail strips, while Melbourne's Bourke Street Mall hung on to seventh and Brisbane's Queen Street Mall made it in to the top 10.
Bourke Street Mall sees an average $7,000 per sqm and Queen Street Mall $4,500 per sqm.
Cushman &amp; Wakefield's report suggested Australia's retail market is currently favourable to occupiers and landlords that are more predisposed to capital contributions and rent-free periods.
"As a result, rents in some locations have fallen, particularly in CBD strip retail areas," the report advised.
"In contrast, rents on some of the higher footfall pitches have increased, including Sydney’s George Street which will benefit from the new light rail project.
"Online sales continue to take an increasing share of the market and, with a degree of uncertainty about the medium-term outlook, new entrant retailers are asking for break clauses and/or more flexible terms, while many small businesses are also opting for more temporary pop up activations.
"However, there is strong demand for flagship stores and double height frontages and the concept of ‘click and collect’ mixed with retail experience is growing."
 
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Sydney's Pitt Street Mall the seventh most expensive shopping strip in the world

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Two Melbourne retail spaces securely leased to global supermarket giant Aldi have been listed for sale.
There's little doubt the most sought after will be the 1,650 sqm retail premises at <a href="https://www.realcommercial.com.au/for-sale/property-aldi-8-franklin-street-melbourne-vic-3000-503357750" target="_blank">8 Franklin Street</a> in the CBD (pictured top), given its high exposure of foot traffic due to its 25 metre frontage in the heart of the city.
The ground floor space which spans across the Verve and Milano twin-tower development is leased to Aldi who are on a 10 year lease with options to extend.
There's basement parking for 44 cars.
Colliers International agents Oliver Hay, Daniel Wolman, Chris Lin and David Sia are marketing the property for a December 6 auction.
The latest listing is a brand new space on the ground floor of Fitzroy apartment block The Lyric building (below), on the <a href="https://www.realcommercial.com.au/for-sale/property-239-245-johnston-street-aldi-fitzroy-vic-3065-503388222" target="_blank">corner of Gore and Johnston Streets</a>, near the busy Smith Street.
<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/2019/11/13/Fitzroy%20Aldi.jpg" alt="">
Offered by Teska Carson's Adrian Boutsakis and Larry Takis, the 1,400 sqm floor space and 52 car spaces is leased to Aldi on a 10 + 10 + 10 year lease.
They pay $640,000 per annum and there are annual rent increases.
Aldi have over 10,000 stores worldwide. 
 
<a href="https://www.realcommercial.com.au/for-sale/property-aldi-8-franklin-street-melbourne-vic-3000-503357750"> </a>
<a href="https://www.realcommercial.com.au/for-sale/property-239-245-johnston-street-aldi-fitzroy-vic-3065-503388222"> </a>
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Two ALDI supermarkets in Melbourne for sale

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EXPERT OBSERVER
It’s clearly been a tough year for many retailers, with 47% of our survey respondents [in Deloitte's Retailers' Christmas Survey 2019] telling us they’ve experienced flat or negative sales growth over the past 12 months.
So it’s probably no surprise many are also approaching this Christmas with a little less cheer, certainly compared to last year.
Just over 60% are expecting to increase their sales this Christmas, compared to 80% in 2018, and nearly 40% are also expecting to see a decrease in seasonal margins. This is, unfortunately, the most pessimistic we’ve seen retailers since 2013.
Many have pinned their hopes on federal government tax cuts, but the latest trading data suggests consumers have chosen to keep any windfall in their pockets. Retailers are no doubt hoping they’ve been saving up for Christmas.
As always, when to discount and by how much remains a critical decision for retailers over the holiday period. Last year they told us they were intent on holding strong. But with difficult trading conditions 12 months later, this will be challenging, with 39% of retailers planning to discount before Christmas compared to 31% last year, and 30% in early December. 
And with the proliferation of sales campaigns such as next week’s Black Friday leading into December, many are concerned this could bring forward Christmas trading at discounted prices.
Getting personal
The cautious consumer has brought good old customer service back to the fore, as retailers can no longer rely on buoyant spending to drive in-store trade.
Over a quarter of respondents highlighted customer service as the most important driver of sales this Christmas, just behind digital and omni-channel offerings.
These two strategies aren’t mutually exclusive. Forming a strong digital connection with the consumer is critical to building trust in the brand, regardless of where the customer spends, and this connection to the customer flows through to loyalty. 
Over 90% of respondents consider their customer loyalty as good or strong, but brand loyalty is also hard won and easily lost. In the era of cancel culture, retailers need to understand the reasons when things go wrong, and how dealing with a poor customer experience via exceptional customer service can protect, and even enhance, brand reputation and the value this can deliver.
Looking for green shoots in 2020
There are signs of more optimism amongst retailers for their prospects in 2020.
They’re still hoping for the best, with some 72% expecting to bounce back and grow their top line. But with most not forecasting growth in excess of 5%, it still looks like another challenging year ahead.  
New products and online will remain key to growth prospects, and only 11% of retailers are expecting to grow through new store openings, down from a peak of 43% in 2017. 
Rising input costs following the depreciation of the Australian dollar are also expected to bite when it comes to margins, and respondents continue to look to the likes of property costs as levers to reduce bottom line impacts.
It’s certainly critical that within the retail ecosystem, retailers, suppliers and landlords work together, rather than against each other. 
Ultimately, uncertainty kills confidence, and global economic turbulence certainly isn’t helping. Australian retailers will be waiting for a recovery in wage and jobs growth to provide a boost where interest rates and government tax cuts fail to provide the stimulus needed.
Profit AND purpose: big room for improvement
The survey report also looks at Australian retailer views on social impact their operations.
Consumers, employees and other stakeholders are increasingly expecting companies to operate in a responsible manner, from ethical sourcing, using sustainable materials and packaging, and reducing carbon emissions to the fair treatment of employees on pay and conditions and making a meaningful contribution to communities and society more broadly.
In a real concern, 42% of respondents believe social, ethical and environmental responsibility isn’t important to their brand.
Yet in the same breath, 91% believe they enjoy good or strong customer brand loyalty. There’s a concerning perception gap here. If Australian retailers don’t quickly grasp the reality of increasing stakeholder expectations, and respond in a considered, meaningful and, importantly, authentic way, consumers may vote with their wallets, and employees with their feet.
David White is the national leader of Deloitte’s Retail, Wholesale &amp; Distribution Group.
Deloitte's Retailers' Christmas Survey 2019 survey findings include:
<ul>
<li>Only 62% of retailers expect to see higher sales this Christmas compared to last year, down from 80% last year</li>
<li>Just under 40% are expecting to see some form of Christmas period margin decrease</li>
<li>39% will be discounting pre-Christmas to help drive sales</li>
<li>Digital continues to be a standout, with 58% expecting to see growth of 10% or more in online Christmas sales</li>
<li>72% expect to see positive sales growth in calendar year 2020, down from more than 90% for 2019. </li>
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Positive retail sentiment is down as important Christmas trading period approaches: Deloitte

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A vacant possession industrial premises located at Thomastown, Victoria has been sold at auction.
The 568 sqm building at 82 Lipton Drive attracted over 30 enquiries. 
There were 19 bids taken between two bidders.
 The property was purchased for $820,000 by an owner occupier, $70,000 above reserve. 
This result equates to a building rate of $1,443.66/sqm and a land rate of $950.17/sqm for the 863sqm site.
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Situated off Mahoneys Road, this location provides easy access to major roads and arterials including being under 3km from Hume Highway, 2.5km from the M80 Ring Road and its associated linkages to the Tullamarine Freeway, Hume Freeway and West Gate Freeway.
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It was sold by Craig McKellar and Oliver Price of CVA.
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Thomastown industrial building sold for $820,000

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GUEST OBSERVATION
Sydney’s Macquarie University <a href="https://www.smh.com.au/national/zero-growth-enrolment-troubles-force-university-to-make-budget-cuts-20191101-p536mc" target="_blank">announced budget cuts</a> in recent days, due to “zero growth” in enrolments next year.
Vice-Chancellor Bruce Dowton reportedly wrote a letter to staff announcing the cuts, which included a hiring freeze. The letter said:
"Enrolment growth domestically and internationally has slowed significantly at a time when our base operating costs continue to rise […] Current projections are that there will be zero growth in load [full-time student numbers] in 2020."
This <a href="https://www.afr.com/policy/health-and-education/unis-risk-catastrophic-hit-due-to-reliance-on-china-20190820-p52ivu" target="_blank">comes a few months</a> after a report from the Centre for Independent Studies warned Australia’s universities were in for a “catastrophic” financial hit due to their over-reliance on international students from China.
Macquarie has been hit harder than most other universities, but many universities are finding it more difficult to recruit students than they did a few years ago. New domestic enrolments are in a mild recession. And although international student numbers are still growing, demand from Chinese international students has stabilised.
No increase in school leavers wanting university
In 2018, the number of students starting a bachelor degree <a href="http://highereducationstatistics.education.gov.au/" target="_blank">fell for the first time since 2003</a>. Of Australia’s 37 public universities, 23 took fewer new bachelor-degree students in 2018 than 2017.
Enrolments are expected to be down again in 2019, following a drop <a href="https://www.education.gov.au/undergraduate-applications-offers-and-acceptances-publications" target="_blank">in applications</a>. Commencing domestic postgraduate student numbers peaked several years ago.
In a sector used to growth, a downturn causes problems.
Since a Commonwealth <a href="https://www.brisbanetimes.com.au/politics/federal/universities-warned-against-regional-cuts-as-turnbull-government-strips-22-billion-from-budget-20171218-h06i24" target="_blank">funding freeze announced in late 2017</a>, universities have not had strong financial incentives to enrol additional students. But this is not the main reason for falling enrolments. The issue is weak demand more than reluctant supply.
Demand for higher education is influenced by the population of potential applicants. Recent school leavers are the biggest bachelor-degree market. The number of year 12 school students fell slightly in 2018, mostly due to a downward trend in babies born 17 years previously.
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Birth and forecast population trends suggest year 12 student numbers will increase by only 1-2% in the next couple of years. So domestic demand for higher education from school leavers should stay close to current levels.
Mature-age students also affect enrolments
To date, <a href="https://andrewnorton.net.au/2019/10/29/has-the-university-funding-freeze-caused-commencing-enrolments-to-fall/" target="_blank">mature-age students are the principal cause</a> of falling commencing bachelor-degree enrolments. But the number of non-year 12 applicants new to higher education is not trending down. For the last few years their applications have fluctuated in a narrow range.
The drop in demand is driven by people who have been to university before. Possibly, <a href="https://theconversation.com/labor-wants-to-restore-demand-driven-funding-to-universities-what-does-this-mean-116060" target="_blank">more student places under demand-driven funding</a> triggered a boom in course switching and former students returning, which has now subsided.
Former students are also affecting the domestic postgraduate market. The number of people who already have a degree, which makes them eligible for postgraduate study, <a href="https://andrewnorton.net.au/2019/09/12/migration-has-outpaced-demand-driven-funding-as-a-source-of-additional-graduates/" target="_blank">is at record levels</a>. But domestic postgraduate coursework commencements peaked in 2014 <a href="https://www.propertyobserver.com.au/https://twitter.com/andrewjnorton/status/1188684271843606529/photo/1" target="_blank">and have declined since</a>.
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This is not an isolated trend. All types of structured education for <a href="https://andrewnorton.net.au/2019/10/18/the-changing-nature-of-work-training-further-evidence-and-puzzles/" target="_blank">people already in the workforce are in</a> <a href="https://andrewnorton.net.au/2019/09/26/contrary-to-expectations-reskilling-and-retraining-seem-to-be-in-decline/">decline</a>. It’s likely <a href="https://andrewnorton.net.au/2019/10/15/the-popularity-of-online-self-education/" target="_blank">online self-education is taking market share</a>.
What about international enrolments?
The story is very different in the international-student postgraduate market, which is growing rapidly. In 2018, for the first time ever, more international students <a href="https://www.propertyobserver.com.au/https://twitter.com/andrewjnorton/status/1188676824387051520/photo/1" target="_blank">started a postgraduate than an undergraduate course</a> in Australia.
Despite some soft international markets, the overall trend is up. The <a href="https://internationaleducation.gov.au/research/International-Student-Data/Pages/InternationalStudentData2019.aspx" target="_blank">most recent data</a>, which take us to August 2019 and cover all levels of higher education, show commencing enrolments are 7% higher than at the same time in the previous year.
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<a href="https://data.gov.au/dataset/ds-dga-324aa4f7-46bb-4d56-bc2d-772333a2317e/details?q=student%20visa" target="_blank">Student visa applications</a>, which go up to September this year, suggest overall demand continues to increase modestly. But we should wait until later in the year before drawing firm conclusions.
A key cause of enrolment increases is India’s rapid rise. Commencing Indian student enrolments have <a href="https://internationaleducation.gov.au/research/International-Student-Data/Pages/InternationalStudentData2019.aspx" target="_blank">more than doubled since 2016</a>. Although China remains the largest source of international students, new Chinese enrolments have stabilised this year.
International student issues could cause numbers to fall
Given enrolment and visa trends, total international student enrolments will increase in the short term. But there are many concerns about this industry, including <a href="https://andrewnorton.net.au/2019/09/18/how-bad-is-the-international-student-english-language-problem/" target="_blank">English language standards</a>, <a href="https://www-tandfonline-com.ezp.lib.unimelb.edu.au/doi/full/10.1080/03075079.2018.1462788" target="_blank">cheating</a>, <a href="https://issuu.com/nteu/docs/sotus_2017_report_1_overview" target="_blank">soft marking</a>, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/4corners/red-flags/11601456" target="_blank">Chinese political interference</a>, university financial <a href="https://www.afr.com/policy/health-and-education/auditors-general-warn-again-over-reliance-on-international-students-20190602-p51tnh" target="_blank">over-reliance on international students</a>, <a href="https://www.smh.com.au/opinion/tackling-the-exploitation-of-international-student-workers-20150818-gj1ge3" target="_blank">labour market exploitation of students</a>, and <a href="https://theconversation.com/australias-temporary-graduate-visa-attracts-international-students-but-many-find-it-hard-to-get-work-in-their-field-123997" target="_blank">poor graduate outcomes</a>.
There are also broader issues of <a href="https://tapri.org.au/wp-content/uploads/2019/04/Overseas-students-are-driving-NOM-final-18-April-2019.pdf" target="_blank">international students driving up migration numbers</a>, as well as questions of whether we want a large proportion of the population living with <a href="https://www.textpublishing.com.au/books/not-quite-australian" target="_blank">limited political and welfare rights</a>.
<a href="https://www.stawelltimes.com.au/story/5964043/pm-morrison-hits-pause-on-migrant-intake/" target="_blank">Population issues</a> contributed to a <a href="https://campusmorningmail.com.au/news/the-international-education-regional-visa-scheme-is-working" target="_blank">rule change</a> to attract international students away from congested big cities to regional and minor city locations. I expect further regulatory changes and market reactions to international education issues to eventually cause a decline in numbers.
University luck might be about to run out
For universities addicted to international student dollars any enrolment decline is bad news. But universities have a history of luck. As international student numbers dropped a decade ago, domestic enrolments boomed. And as domestic numbers flattened in recent years, the international market took off.
As the domestic demography chart above suggests, there is potential for big increases in Australian undergraduates in the mid-2020s, as the mid-2000s baby boom children reach university age.
There is, however, a major obstacle to that scenario: with the end of demand-driven funding, there will be <a href="https://andrewnorton.net.au/2019/08/27/will-the-number-of-commonwealth-supported-student-places-fall/" target="_blank">no money to pay for those extra students</a>. Federal Education Minister Dan Tehan has <a href="https://ministers.education.gov.au/tehan/afr-higher-education-summit" target="_blank">acknowledged the problem</a> but so far has no solution.
Without one, the future contains major risks. Universities could have falling enrolments for both domestic and international students. This will mean staff cuts and less money for research.
And the people born in the mid-2000s could be part of an unlucky generation in which <a href="https://andrewnorton.net.au/2019/04/29/young-people-were-less-likely-to-enter-higher-education-in-the-years-after-whitlam-than-before-demography-and-deficits-were-against-them/" target="_blank">population growth collides with budget constraint</a>. Their chances of finding a university place will be lower than for people born in earlier decades.<img src="https://counter.theconversation.com/content/126342/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Andrew Norton, Honorary fellow, University of Melbourne.
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/enrolments-flatlining-australian-unis-financial-strife-in-three-charts-126342" target="_blank">original article</a>.
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Enrolments flatlining: Australian unis’ financial strife in three charts

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GUEST OBSERVATION
Australia was already <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/44609144?seq=1#page_scan_tab_contents" target="_blank">one of the most urbanised nations</a> by the end of the 19th century. Unlike European and North American countries, Australia’s pattern of settlement did not have a neat urban hierarchy. The gap between the large and small towns was huge.
These patterns have intensified in the decades since federation, especially after the second world war. International and internal <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/3218.0" target="_blank">migration trends have driven rapid growth</a> in the big cities, especially Melbourne and Sydney. This has created major problems with providing adequate <a href="https://theconversation.com/housing-policy-reset-is-overdue-and-not-only-in-australia-112835" target="_blank">housing</a>, <a href="https://theconversation.com/congestion-busting-infrastructure-plays-catch-up-on-long-neglected-needs-114598" target="_blank">infrastructure</a> and <a href="https://theconversation.com/some-suburbs-are-being-short-changed-on-services-and-liveability-which-ones-and-whats-the-solution-83966" target="_blank">services</a>.
The fundamental issue is the reluctance of urban communities and their leaders to discuss what might be sustainable populations.
The folly of unlimited growth
No Australian city has a long-term vision showing how a future stabilised population might be supported with the essential resources of food, water and energy. No Australian city has faced up to the inevitable social tensions of <a href="https://theconversation.com/what-did-the-rich-man-say-to-the-poor-man-why-spatial-inequality-in-australia-is-no-joke-73841" target="_blank">increasing inequality</a> between a well-served inner-urban elite and an increasingly under-resourced urban fringe.
Leaders in cities that have not grown as rapidly, such as Adelaide, <a href="https://www.news.com.au/finance/economy/australian-economy/as-the-east-coast-struggles-with-population-numbers-south-australia-is-desperate-for-a-boost/news-story/5ebca065ebe3f975ed83827d2373db37" target="_blank">lament their failure to grow like Sydney and Melbourne</a>, despite all the associated problems. All implicitly believe unlimited growth is possible.
In reality, the expanding ecological footprints of the large cities have created unsustainable demands on land to support urban dwellers. And the wastes the cities produce are straining the capacity of the environment to handle these.
Given the many unpriced flow-on effects from dense urban growth and market-led development, governments are struggling to deal with the undesirable consequences. <a href="https://theconversation.com/australian-city-workers-average-commute-has-blown-out-to-66-minutes-a-day-how-does-yours-compare-120598" target="_blank">Congestion</a> and <a href="https://theconversation.com/walking-mightnt-be-good-for-you-if-its-through-australias-polluted-city-streets-88772" target="_blank">pollution</a> threaten to overwhelm the many social and economic benefits of urban life.
The growth and concentration of populations are also driving chronic excess demand for appropriate housing. The result is <a href="https://theconversation.com/affordable-housing-lessons-from-sydney-hong-kong-and-singapore-3-keys-to-getting-the-policy-mix-right-123443" target="_blank">serious affordability problems</a>, which are adding to inequality across society and generations.
In 1970, urban historian <a href="https://theaimn.com/book-review-ideas-for-australian-cities-by-hugh-stretton/" target="_blank">Hugh Stretton pointed</a> to the role of Australia’s widespread owner occupation in offsetting the inequalities generated in labour markets and by inherited wealth. This is no longer the case.
The dominant neoliberal economic ideology has resulted in a <a href="https://theconversation.com/australia-needs-to-reboot-affordable-housing-funding-not-scrap-it-72861" target="_blank">retreat from providing public housing</a>. Abandoning would-be home-owners to the market has produced a situation in which urban land and house ownership is <a href="https://theconversation.com/how-the-housing-boom-is-remaking-australias-social-class-structure-66976" target="_blank">reinforcing class-based inequalities</a>. Home ownership is increasingly the preserve of the affluent and their children.
Housing-related inequality is also seen in the geography of our cities. <a href="https://theconversation.com/city-by-city-analysis-shows-our-capitals-arent-liveable-for-many-residents-85676" target="_blank">Poorer households are priced out of locations with better access</a> to good jobs, schools, transport, health care and other services.
Failures of governance
Governments in Australia’s federation are poorly placed to respond adequately. <a href="https://theconversation.com/metropolitan-governance-is-the-missing-link-in-australias-reform-agenda-55872" target="_blank">Responsibilities and fiscal resources are divided</a>, creating obstacles to effective planning and infrastructure provision.
The main factor driving urban population growth is an unprecedented <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1617/Quick_Guides/MigrationStatistics" target="_blank">rate of inward migration</a>. The national government <a href="https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels" target="_blank">sets large migration targets</a> as an easy way of creating economic growth. This leaves state governments with the impossible task of meeting the resulting demand for infrastructure.
Jane O’Sullivan <a href="/news">has shown</a> each extra urban citizen requires about A$250,000 of investment. The total sum is well beyond the capacity of state and local governments.
Arguments between federal and state governments are heavily politicised, especially when it comes to major transport investments. Even within single jurisdictions, complex demands and unexpected consequences prevent effective action. The <a href="https://theconversation.com/the-recycling-crisis-may-be-here-to-stay-112055" target="_blank">waste recycling crisis</a> is a prime example.
State governments must also deal with difficult trade-offs between, for example, allowing further <a href="https://theconversation.com/living-liveable-this-is-what-residents-have-to-say-about-life-on-the-urban-fringe-111339" target="_blank">development on the edges of cities</a> or <a href="https://theconversation.com/becoming-more-urban-attitudes-to-medium-density-living-are-changing-in-sydney-and-melbourne-84693" target="_blank">encouraging higher density in built-up areas</a>. This often involves <a href="https://theconversation.com/vested-interests-behind-city-shapers-often-subvert-higher-density-policies-74244" target="_blank">conflicts</a> with local governments and communities, concerned to protect their ways of life.
Australian planners and governments have long tinkered with <a href="https://theconversation.com/making-small-cities-bigger-will-help-better-distribute-australias-25-million-people-101180" target="_blank">policies to encourage decentralisation to smaller cities</a>. Despite these attempts, the dominant pattern of urbanisation with its seemingly intractable problems has hardened, a triumph of reality over rhetoric.
What needs to change?
To get beyond the rhetoric and make our cities more sustainably liveable requires a much more deliberate and interventionist role for government. It also requires residents of our cities and suburbs to be willing to allow their governments to interrupt business as usual.
This, we know from experience, is a big ask. It will step on the toes of the <a href="https://theconversation.com/housing-policy-is-captive-to-property-politics-so-dont-expect-politicians-to-tackle-affordability-55384" target="_blank">property lobby</a> and ordinary home owners. In some cases, for example, the short-term financial interests of property owners are leading local authorities to ignore scientific warnings about the impacts of climate change on coastal development.
Major changes are also needed in how urban land is taxed and the proceeds invested. “Simple” reforms like <a href="https://theconversation.com/the-way-australia-taxes-housing-is-manifestly-unfair-58421" target="_blank">replacing stamp duty on land transfer with a universal land tax</a>, as the <a href="http://www.taxreview.treasury.gov.au/content/Content.aspx?doc=html/home.htm" target="_blank">Henry Tax Review</a> recommended, will take political courage that has been absent to date.
More complex policies like finding ways of diverting population growth to non-metropolitan regions will take careful thought and experimentation. This might include relocating government agencies to provincial cities. This has been tried sporadically in the past at the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-04-19/decentralisation-push-for-federal-government-departments/8453816" target="_blank">federal</a> level and in states such as <a href="https://www.theguardian.com/australia-news/2017/may/04/victorian-public-service-jobs-to-move-to-ballarat-and-latrobe-valley" target="_blank">Victoria</a> and <a href="https://psa.asn.au/wp-content/uploads/2013/01/NSW-Decentralisation-Taskforce-Report-April-2013-FINAL.pdf" target="_blank">New South Wales</a>. However, such cases tend to be one-offs and do not reflect an overall strategic plan.
Future generations will inevitably be critical of the complete failure of current leaders to plan for sustainable development.<img src="https://counter.theconversation.com/content/123916/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Mike Berry, Emeritus Professor, RMIT University.
Ian Lowe, Emeritus Professor, School of Science, 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/no-australian-city-has-a-long-term-vision-for-living-sustainably-we-cant-go-on-like-this-123916" target="_blank">original article</a>.
This article is part of a series on rebalancing the human–nature interactions that are central to the study and practice of ecological economics, which is the focus of the 2019 ANZSEE Conference in Melbourne later this month.
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No Australian city has a long-term vision for living sustainably. We can’t go on like this

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There could be 20,000 first home buyers in 2020 who buy their property with a deposit of as little as 5% under the new Federal Government home loan deposit guarantee scheme.
The number of applicants across Australia will be capped at 10,000 every financial year, but as the initiative begins on January 1, there will be the double opportunity during 2020.
The 10,000 opportunities that allow low-and middle-income earners to participate on a first come basis from January 1 and then from July 1.
Even with 20,000 likely participants in 2020, it is likely some 80,000 first home buyers will need to find their own regular borrowing arrangements.
Sydney first-home buyers wanting to buy next year using the federal government's new home loan deposit scheme will need to buy properties costing less than $700,000.
The price cap will also apply to the large NSW regional centres with a population of 250,000 plus, namely Newcastle, Lake Macquarie and the Illawarra around Wollongong.
Buyers in the rest of the state can spend up to $450,000 to be eligible to buy under the scheme.
The Sydney house median sits at $900,000 and for units it is $710,000 according to CoreLogic.
It is $600,000 for Melbourne buyers, $500,000 in the ACT and $475,000 for Brisbane buyers.
The scheme to be known officially as the First Home Loan Deposit Scheme (FHLDS) will apply to owner-occupied loans on a principal and interest basis.  
Many first-home buyers are already setting their hopes based on the already available stamp duty tax incentives and available grants, which is centred around a $650,000 purchase.
To be eligible for the (FHLDS) the contract of sale must be dated after 1 January 2020.
It removes the cost of lenders mortgage insurance for FHBs with an annual income of up to $125,000 or couples with a combined $200,000 per year who haven't saved the standard 20% deposit.
There are to be no more than two borrowers on any loan and where there are they must be the spouse or de facto partner of the other borrower.
Off the plan purchases can be made under the scheme.
If the loan relates to the purchase of vacant land, it must also relate to the construction of a dwelling.
The scheme will only apply to Australian citizens.
The loan-to-value ratio will be be between 80 and 95% for loans not more than 30 years.
Repayments will be required for the principal of the loan for the full period except for construction loans where the loan agreement may permit interest-only repayments.
Any building contract requires construction commencement within 26 weeks of the settlement date and the issuance of an occupancy certificate within 15 months.
Treasurer John Frydenberg and Housing Minister Michael Sukkar have been credited with getting the balance right in recognising the variations in markets around the country, between metropolitan and regional areas.
It is however likely more loans will be for apartments than houses.
The National Housing Finance and Investment Corporation (NHFIC), who will be responsible for implementing the First Home Loan Deposit Scheme, is currently seeking lenders.
No more than two of the major banks will participate along with smaller lenders set to join the lending panel two months after its initial commencement. 
The government guarantees cease once the outstanding loan is at 80% or less.
The information now available should help the first home buyers to start making plans.
This article was first published in the Saturday Telegraph.
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jchancellor-FAypfDUnLy

20,000 FHBs set to take up the low deposit scheme in 2020

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The Sunland Group has placed the Mariner’s Cove Retail Village and Marina in Main Beach on the market.
It is located adjacent to the 5-star Palazzo Versace Hotel, and opposite the Sheraton Grand Mirage Resort.
The Sea World theme park is located 1.8 kilometres north of the site.
Spanning 3.95 hectares, the waterfront site comprises the Mariner’s Cove Retail Village with a net lettable area of 4,278 square metres, and the 102-berth Mariner’s Cove Marina.
Sunland Group managing director, Sahba Abedian, said the decision to take the Mariner’s Cove precinct to market follows the completion of The Spit Masterplan, released in May.
“The Spit Masterplan sets a clear direction for development within this unique and internationally recognised coastal tourism precinct,” Abedian said.
The international campaign is being managed by James Branch, and Mark Witheriff, of Knight Frank.
Branch said future developments could include components of both a Premier 5-star hotel and residential apartments, maximising the benefits of the existing marina and high-grade marina facilities suitable for use by the growing super yacht market, as proposed by the Spit Masterplan.
The expression of interest campaign will close November 28.
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