<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

<html><body>
EXPERT OBSERVER
The mini-boom in Hobart and Tasmania is well past its peak in terms of buyer demand, but the state remains the nation’s top performer on price growth in the past year. 
The quarter-by-quarter analysis of sales activity conducted by Hotspotting shows there are few growth markets remaining in Tasmania and we are now seeing the emergence of declining markets for the first time.
Our past three quarterly surveys of sales activity have found that the number of locations with growth momentum has fallen from 23 to 16 to 9. 
The peak of the up-cycle in Tasmania, measured by sales activity, was late in 2017 and there has been a gradual wind-down in activity since then.
But now Tasmania has as many locations classified as declining markets (9) as there are rising markets.
Prices remain buoyant however, although a little less so than three months ago. Our location-by-location analysis of prices shows that 86% of Tasmanian locations have median prices higher than a year ago.
This is down from 91% three months ago, but remains easily the best outcome in the nation. Most of the locations with rising prices have recorded annual growth above 5% and indeed most have had double-digit increases. 
There are only 12 locations across the state of Tasmania with median prices lower than a year ago.
Launceston is the state’s strongest market: it still has three suburbs classified as rising markets – Mowbray, Newnham and South Launceston. Quarterly sales in Mowbray have been 21-23-29-34 and its median price is up 7% to $260,000.
There are 13 suburbs with steady sales performance (suburbs notable for their consistent sales performance include Youngtown, Riverside and Newstead) and none classified as declining markets. 
Suburbs with good annual growth in their median house prices include Newnham (8%), Newstead (11%), Ravenswood (13%) and several others which are up 6-7%.
In the suburb of Launceston, the median apartment price has risen 24% to $400,000 in the past year.
There are still some rising suburbs throughout the Hobert metro area – including Howrah, Margate, Rokeby and Sorell.
Howrah features in our National Top 50 list of Supercharged Suburbs in the Spring edition of The Price Predictor Index, with quarterly sales of 41-46-50-52-58. Its median house price is up 8% to $535,000 and its median apartment price has risen 12% to $415,000 in the past 12 months.
Generally, the Hobart metro area remains steady and suburbs like Moonah and West Hobart make our National Top 50 list of Consistent Suburbs in The Price Predictor Index.
Most locations have median prices well up on the levels of 12 months earlier. Locations with strong annual price growth include Austins Ferry (17%), Lauderdale (21%), Oakdowns (22%), Risdon Vale (18%) and Warrane (15%).
But the Hobart area now has locations classified as declining markets, including Chigwell, Gagebrook and Midway Point.
There are struggling markets elsewhere in the state, notably the West Coast where Queenstown, Zeehan and Rosebery remain classified as declining or danger markets. There’s also mounting evidence of decline in the Burnie market.
At the other end of the scale, regional towns with big price rises include Huonville (15%), Perth (14%), Smithton (23%), East Devonport (16%), Longford (12%) and George Town (12%).
In the Dorset LGA, both Scottsdale (17%) and Bridport (15%) have had strong growth in their median prices. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
</body></html>

terryryder-YECXbqmri2

Tasmania real estate past its peak, but still Australia's top performer: Hotspotting's Terry Ryder

j.ballantyne1990-6AQqhLzZaK

13 economists backed the RBA governor over the treasurer to fix things: Peter Martin

<html><body>
The Glasshouse building, at John Holland's Macquarie Square development, has been sold.
The building comprises of 38,500 square metres of internal floorspace, and was sold to investment company Charter Hall for approximately $332 million.
The sale price, and 5 per cent cap rate, represent a record for John Holland and is one of the largest ever sales in Macquarie Park.
CEO Joe Barr said, “Macquarie Park is Sydney’s emerging new CBD. With the Glasshouse, it will get its first CBD-quality office building, with a 7,000sqm public park at its heart."
Executive General Manager Development &amp; Investments Tom Roche said, “this is an incredible result, adding to our strong pipeline of commercial and mixed-use developments. With more than 80 per cent of the Glasshouse leased already, this is clearly a market that will continue to grow,” Mr Roche said.
The Glasshouse is part of John Holland’s Macquarie Square development, a 117,017 square metre site made up of five buildings and a 7,000 square metre public park.
John Holland will complete the building in early 2020, with Transport for NSW as its anchor tenant. John Holland will remain part of the Macquarie Square community through its ongoing development and precinct management roles.
Macquarie Square is a two-minute walk to the John Holland-built Sydney Metro Macquarie Park station. 
</body></html>

wdavis-8cCN98p7xp

Macquarie Park's Glasshouse office development sold

<html><body>
Coles West Ryde has been listed for sale with expectations it will sell for around $23 million.
It's the first Sydney metropolitan freestanding supermarket with no specialty tenants, to hit the market in 2019. 
Offered by Coles Group Property Developments Ltd, it sits on the ground level, supported by a Liqourland, of a near new apartment building.
The 3,975 sqm strata-titled supermarket with 300 car basement parking is being sold by Colliers International’s James Wilson and Alex James-Elliot.
"Coles Supermarket and Liquorland feature a market leading 12-year net lease structure which offers ease of management to a purchaser," Wilson said.
“Coles West Ryde presents exceptionally well, occupying a high profile and convenient position in West Ryde’s CBD," Wilson says.
“The supermarkets income growth potential is set to benefit from the Main Trade Area’s affluent catchment with household income over 13% above the Australian average, whilst the non-discretionary expenditure is forecast to grow at 5% per annum to 2031”
Alex James-Elliot said the property provides a non-discretionary, defensive income stream for potential investors. 
"The risk adjusted returns, when viewed through the currently low interest rate and return on cash environment, will prove attractive to domestic and offshore private investors seeking a secure long-term investment.”
The forthcoming sale of Coles West Ryde continues Coles capital recycling strategy which included the sales by Colliers International of Willowdale Shopping Centre in June 2019 for $34.8 million, Coles Mayfield Development Site in Newcastle for $8.9 million in September 2019.
</body></html>

jrobinson-rf4aSBido9

Coles West Ryde listed for $23 million

<html><body>
The site of an ANZ bank, in Sydney's Double Bay, has sold at auction, trading for $9.8 million.
Located at 27-29 Knox Street, the holding is situated between Sportscraft and the Twenty-One Espresso. It is directly opposite the Cosmopolitan Centre. 
It comprises of 230 sqm of lettable area.
The estimated net income is $199,217 per annum, however the long term lease, held by ANZ, has a rent review date in mid-2020.
It previously traded in 1989, when it sold for $3.25 million.
Peter Krieg and Tao Shi, from CBRE North Sydney, managed the sale.
</body></html>

Double Bay ANZ sold for just under $10 million

<html><body>
GUEST OBSERVATION
A plan to provide homeless people with overnight beds and shelter in car parks might sound like a good idea but it does little to solve their problem in the long term.
There are other proven ways we can help those sleeping rough to break out of the homelessness cycle. And Australia certainly has the wealth to back such schemes.
That’s why it’s important to treat homeless and roofless people as more than charity cases.
A bed for the night
The charity <a href="https://beddown.org.au/" target="_blank">Beddown</a> started a two-week trial with Secure Parking to invite people sleeping rough to spend the night on inflatable mattresses <a href="https://www.brisbanetimes.com.au/national/queensland/car-parks-transformed-into-pop-up-accommodation-for-homeless-people-20190927-p52vgt" target="_blank">in a car park in Brisbane’s CBD</a>. It hopes to run similar trials in Melbourne and Sydney.
The mattresses-in-car-parks idea adds to similar charitable models in Australia that include <a href="https://orangesky.org.au/" target="_blank">mobile laundries and showers</a> for people who are homeless, as well as <a href="https://www.sleepbus.org/" target="_blank">buses fitted out with beds</a>.
These charitable endeavours receive almost unanimous <a href="https://www.kidsnews.com.au/humanities/beddown-trial-provides-sweet-dreams-and-a-good-nights-sleep-for-people-experiencing-homelessness/news-story/c1b2924ff9af53125257dc3a4fc036a3" target="_blank">positive attention</a> <a href="https://7news.com.au/news/qld/brisbane-carpark-turned-into-pop-up-shelter-for-the-homeless-is-changing-lives-already-c-502732" target="_blank">from the media</a>.
<a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-01-24/young-australians-of-the-year-offer-advice-to-2017-nominees/8208554" target="_blank">Some of the creators</a> of these charities even receive prestigious national awards.
How to really end homelessness
Instead of pop-up beds in car parks and mobile laundries and showers, which all start with the best of intentions, as a society we can and should immediately end homelessness for people sleeping rough.
This is not utopian nor is it unrealistic. We have <a href="https://www.propertyobserver.com.au/https://www.journals.uchicago.edu/doi/pdfplus/10.1086/676318" target="_blank" title="Exiting Unsheltered Homelessness and Sustaining Housing: A Human Agency Perspective">rigorous evidence</a>, based on research with programs in Australia’s capital and regional cities, that demonstrate <a href="https://www.sacredheartmission.org/docman/publications/26-publications-sustaining-exits-from-long-term-homelessness-48-month-evaluation-2015/file" target="_blank">we can permanently end homelessness</a> for people on the streets and those who have experienced chronic homelessness.
The evidence even shows how we can end homelessness for <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/hsc.12835" target="_blank" title="Evidence for an integrated healthcare and psychosocial multidisciplinary model to address rough sleeping">people who are sleeping rough</a>.
The results show between 80% and 90% of people who are supported to exit rough sleeping through <a href="https://www.ahuri.edu.au/policy/ahuri-briefs/what-is-the-housing-first-model" target="_blank">Housing First programs</a> sustain their housing for at least 12 months.
Three things are critical.
The first is assertive street outreach that systematically works to identify and support people to get off the streets. Some models consist of clinicians working in street outreach teams to help overcome the health barriers to people exiting the streets.
Second is the accessibility and availability of long-term and affordable housing. People need to access housing as a tenant, not as a client of a conditional program. The availability of housing is essential to ensure assertive outreach is able to offer people what they need.
Third is a flexible model of integrated social support and health care for people after they are housed. The ongoing support needs to be driven by the tenant, not mandated, and available for as long as required.
Action saves money
When we do not change our systems and practices to enable people sleeping rough to access housing, we waste money responding to the consequences of our failed policy decisions.
<a href="https://theconversation.com/supportive-housing-is-cheaper-than-chronic-homelessness-67539" target="_blank">Australian research</a> using government administrative data showed an average annual saving to government services of A$13,100 per person for ending their homelessness with permanent supportive housing.
When people are housed they use less criminal justice and health services than when living on the streets.
Given the evidence and technical knowledge we have for ending homelessness, it is important to consider whether charity models such as Beddown and others that offer temporary solutions run the risk of adverse unintended consequences.
The uncritical praise and celebration these endeavours attract can let governments off the hook for their responsibility to provide affordable housing to homeless people.
These <a href="https://www.feantsaresearch.org/download/think-piece-12032277176126500690.pdf" target="_blank" title="Charity and Justice: A Reflection on New Forms of Homelessness Provision in Australia">charitable measures can distract from work</a> to permanently end homelessness and they normalise homelessness as a social fact.
Furthermore, <a href="https://www.hpw.qld.gov.au/Housing/PartnershipInitiatives/DignityFirstFund/Pages/default.aspx" target="_blank">some of these models</a> receive direct government funding.
When reflecting on mattresses in car parks for people who are homeless, we need to ask ourselves, can we do better? The evidence shows we can.
A lucky country for some
The Australian government proudly proclaims our <a href="https://www.austrade.gov.au/International/Invest/Resources/Benchmark-Report" target="_blank">28 years of uninterrupted economic growth</a> as a record for developed nations.
<a href="https://www.credit-suisse.com/about-us-news/en/articles/news-and-expertise/global-wealth-report-2018-us-and-china-in-the-lead-201810" target="_blank">Credit Suisse says</a> Australians have the highest median average wealth per adult in the world, ahead of Switzerland.
So we clearly have both the wealth and technical knowledge to end homelessness, particularly for the <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/2049.0" target="_blank">estimated 8,200 people</a> the Australian Bureau of Statistics identified as sleeping rough on the 2016 Census night.
Providing mattresses in car parks may make volunteers and the public feel good, but we have to recognise that people who are homeless access this resource as charity recipients, who may feel inferior, especially when they cannot reciprocate.
If we don’t provide enough access to housing, one of the consequences is that people who are homeless become dependent on the goodwill of volunteers who provide bedding and washing facilities.
Rough sleepers need to be seen as people who require housing to enable them to control the conditions of their lives. Charities and their motivated volunteers are well positioned to innovate and push governments to do what they have otherwise been unwilling to do: create housing for all Australians.<img src="https://counter.theconversation.com/content/125235/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;">
Cameron Parsell, Associate Professor, School of Social Science, The University of Queensland.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/beds-in-car-parks-dont-solve-australias-rough-sleeping-problem-125235" target="_blank">original article</a>.
</body></html>

Beds in car parks don’t solve Australia’s rough sleeping problem

<html><body>
Data shows that investors continue to be more likely to resell their properties at a loss compared to owner occupiers, according to the latest data from CoreLogics Pain &amp; Gain report for the June quarter.
They found that over the second quarter of 2019, 11.3% of properties that were owned by owner occupiers resold at a loss compared to 17.4% of investment properties.
Across each of the major regions, except for regional Victoria and regional Tasmania, a greater share of investors resold their properties at a loss than owner occupiers.
Throughout the combined capital cities, 11.5% of owner occupier properties that were resold over the second quarter of 2019 resold for a loss compared to 18.1% of investor owned properties.
Click to <a href="https://www.propertyobserver.com.au/images/2019/10/29/Resales%20OO%20vs%20I.JPG" target="_blank">open in new window</a>:
<img src="https://www.urban.com.au/images/2019/10/29/Resales%20OO%20vs%20I.JPG">
In Melbourne (5.0% vs 13.5%), Brisbane (8.3% vs 24.3%) and Canberra (4.6% vs 21.0%) investors were more than twice as likely to resell a property at a loss than owner occupiers during the quarter.
In most of the remaining capital cities, the differential in share of loss-making resales between owner occupiers and investors was fairly small.
Across the regional areas of the country, investors were more likely to resell a property for a loss (15.8%) than owner occupiers (11.1%).
The gap between owner occupied and investor owned properties reselling at a loss was generally quite small.
"Clearly, any property owner will aim to make a profit from the sale of their property," the report said.
"In a falling market owner occupiers may be more prepared to sell at a loss if they are purchasing their next home at an equivalent or greater discount.
"Conversely, investors, because of taxation rules, would seemingly be more prepared to incur a loss because they (unlike owner occupiers) can offset those loses against future capital gains.
"If home values fall, investors may be more inclined to sell at a loss and offset those losses which in turn could result in more supply becoming available for purchase at a time in which demand for housing remains below average due to recent weak conditions and tighter credit availability however, these trends have started to reverse over recent months."
</body></html>

Investors more likely than owner occupiers to resell property at a loss: CoreLogic Pain & Gain Report

<html><body>
EXPERT OBSERVER
The CoreLogic Home Value Index results for October out today confirm a 1.2% rise in national dwelling values over the month, delivering the fourth straight month of rising values.  
The October result was the largest month-on-month gain in the national index since May 2015.
The recent gains come after a broad-based decline in housing values, with the national index declining 8.4% between October 2017 and June 2019.  
The positive October result takes national dwelling values 2.9% off their June 2019 floor, however values remain 5.7% below their peak, highlighting that despite the recent gains, home values are at a similar level to where they were three years ago.  
<img src="https://www.corelogic.com.au/sites/default/files/2019-11/index_results_as_at_20191031.png" width="600" height="283">
The strongest growth conditions continue to be centered in Melbourne and Sydney, however dwelling values trended higher across most of the capital cities as lower mortgage rates and improved credit availability spurred on buyer demand.  
Dwelling values were up across every capital city apart from Perth over the month, and based on the rolling three-month change, the only capitals where values fell were Perth (-1.7%) and Darwin (-1.2%).  
The stronger rebound in Melbourne and Sydney can be attributed to a blend of factors; tighter labour market conditions and stronger population growth relative to the other capitals, coupled with the stimulatory effect of the lowest mortgage rates since the 1950’s, and improved access to credit.  
Stamp duty exemptions for first home buyers purchasing under specific price points have added additional stimulus to housing demand.  
<img src="https://www.corelogic.com.au/sites/default/files/2019-11/change_since_peak_20191031.png" width="600" height="473">
The recovery trend in Melbourne overtook Sydney in October, with dwelling values surging 2.3% higher over the month; the largest month-on-month gain since November 2009.  
Melbourne housing values have recovered 6.0% since moving through a trough in May 2019, while Sydney values are up 5.3% since the recent May low. The smaller capitals have delivered a mixed performance, although the general theme is one of improving conditions.  
The rolling three-month change in Brisbane housing values (+1.1%) was the highest since December 2015, Adelaide (+0.1%) posted the strongest rolling quarter since December 2018, while Hobart (+1.0%) and Canberra (+2.4%) recorded the largest three month rise in values since March 2019 and May 2017.  The downwards trend in Perth and Darwin home values has continued, however both markets are showing an improvement in the trend rate of decline.  
The rolling three-month trend in Perth housing values recorded the smallest decline in fourteen months (-1.7%) and Darwin dwelling values posted a rare monthly rise in October.  
Both cities have seen dwelling values consistently trending lower since mid-2014, with Darwin down a cumulative 31% and Perth values 22% lower.  
Perth is now recording the lowest median house value of any capital city ($451,800) and Darwin house values are a close second with a median of $468,300.  
Unsurprisingly, the Northern Territory and Western Australia are also showing the highest proportion of first home buyer activity, with first time buyers not weighed down by negative equity and with the ability to take advantage of very affordable housing in these regions. 
TIM LAWLESS is the CoreLogic Head of Research
</body></html>

tlawless-5VLUrbAk9s

Property values see fourth month of consecutive growth: Tim Lawless

<html><body>
EXPERT OBSERVER
The Reserve Bank Board meets on November 5 next week.
There is little chance that the Board will decide to cut the cash rate at that meeting.
Westpac confirms its forecast which was “refreshed” on July 24 that the Board would cut the rate by 25 basis points at the October meeting (done) and the February meeting in 2020.
Markets are pricing in a probability of a miniscule 4% for a November move.
However it was not always like that.
Back on October 4, I wrote, “we cannot concur with the markets pricing in a 50% probability of a follow up move in November".
There are a number of reasons for this caution.
Firstly, markets should understand that central banks will usually bias their comments on days on which they make policy changes to justify the decision. We saw some examples of that approach in the Governor’s Statement.
For example, he has, for no reason that is justified by the data, adopted a bolder objective than had been the case before by aiming for “full employment” rather than the more modest, “reduce unemployment” that we saw in September.
With the unemployment rate trending away from his full employment target and, by his own admission, "forward-looking indicators of labour demand indicate that employment growth is likely to slow from its recent fast rate" the introduction of that full employment target as a substitute for the more realistic “reduce unemployment” seems curious and is probably less significant than markets may have assessed.
We also think the RBA will be mindful of the response of the Westpac Melbourne Institute Consumer Sentiment Index to the consecutive cuts in June/July. Following the cut in July the Index fell by 4.1%. There was an apparent “spooking” of the consumer around the policy action.
With the RBA seeing the consumer as the key to the growth outlook, a “back to back” series of rate cuts leaving limited scope to cut further and risking a similar response from the consumer would counsel against that November move.”
Since that note we saw the Westpac MI Consumer Sentiment Index fall by 5.5% in response to the October rate cut, providing further evidence of the fragility of Confidence to low rates. Under such circumstances consecutive rate cuts would seem to be a significant policy mistake.
Apart from the arguments I put forward on October 4 we have also seen an absence of downside surprises in both the Employment and Inflation reports with both the unemployment rate falling modestly from 5.3% to 5.2% and the trimmed mean annual inflation rate holding steady at 1.6%.
Looking further out, markets have turned against prospects for a December rate cut with probabilities falling from 80% back on October 4 to 25%.
We concur with that assessment but are surprised that market pricing for February has tumbled from 100% on October 4 to 50% today.
Read full report <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/November/er20191101BullRBAonHoldNov.pdf">'RBA on hold in November' (PDF 73kb)</a>
BILL EVANS is the Chief Economist at Westpac 
</body></html>

bevans-rYk9SxEa4r

RBA on hold in November, 2020 growth and inflation forecasts unchanged: Bill Evans

<html><body>
GUEST OBSERVATION
The New South Wales Bureau of Crime Statistics and Research (BOCSAR) recently claimed Sydney’s alcohol licensing regulations, commonly known as lockout laws, reduced non-domestic assaults by 13% in the CBD.
Its calculation relied on a decision to allocate 1,837 of these offences to both Kings Cross and the CBD – that is, double-counting the data.
<a href="https://www.parliament.nsw.gov.au/ladocs/submissions/63631/Submission%20734%20-%20Centre%20for%20Translational%20Data%20Science,%20University%20of%20Sydney.pdf" target="_blank">Our analysis</a> found this decision was critical to the conclusion that assaults decreased in the CBD. For every other choice about the areas to which offences data were allocated and type of analysis we found no decrease.
<img src="https://images.theconversation.com/files/298452/original/file-20191024-119433-7qnb4k.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Map of Sydney and the entertainment precincts as used by BOCSAR in its analysis: blue – CBD entertainment precinct; red – Kings Cross entertainment precinct; green – nearby displacement areas; yellow – outer displacement areas.
<a href="https://www.parliament.nsw.gov.au/ladocs/submissions/63631/Submission%20734%20-%20Centre%20for%20Translational%20Data%20Science,%20University%20of%20Sydney.pdf%5D" target="_blank">Our findings</a> highlight an important question: how do the choices of data collection, pre-processing and analysis affect policy decisions?
The allocation of crimes to areas is just one of several choices made when using data to assess policy impacts. Other choices include how to measure violent crime, what time period to consider and the geographical extent of the areas to include. The question is: if other choices were made, would the results affect a <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-09-08/sydney-lockout-laws-rolled-back/11489806" target="_blank">decision to repeal or continue the laws</a>?
Our findings point to the need to follow a couple of principles when using data to inform policymaking. First, the institution that collects data and the institution that analyses the data should be independent of each other. Second, we need as much transparency about the data and its analysis as possible.
So what exactly did the analyses show?
BOCSAR chose to use monthly non-domestic assaults from 2009 onwards. There is nothing wrong with these choices, but others could have been made.
For instance, why from 2009 onwards, not from 2005? Why monthly, not daily? Why reported non-domestic assaults, not reported assaults causing grievous bodily harm? Why divide the area into the CBD and Kings Cross only?
One way of assessing the impact of such choices is to use different subsets of data, different types of data pre-processing and different statistical and/or machine-learning techniques. If the conclusion still remains the same, then our decision is robust to this source of variability. If not, we need to understand why.
For the Kings Cross precinct, the analysis by the Centre for Translational Data Science at the University of Sydney showed the conclusion remained unchanged irrespective of the frequency and period over which data were collected and the analysis performed. Non-domestic assaults had declined following the introduction of the lockout laws in 2014.
For the CBD the reverse was true. Only if we make exactly the same choices as BOCSAR, in particular allocating 1,837 crimes to both the CBD and King Cross, could we conclude non-domestic assaults had decreased very slightly.
Under all other variations of the analyses, including data, methodology and spatial allocation of that data, we found no decrease. Non-domestic assaults in the CBD had been decreasing since 2008 and, if anything, more slowly after the lockout laws took effect.
So why was the inclusion of 1,837 crimes so critical to the conclusions about the CBD?
Using data provided by BOCSAR, we plotted the most likely location of those 1,837 crimes. Figure 1 shows these crimes occurred mainly in Kings Cross, an area in which the crime rate had fallen since 2014. We say “most likely location” because we have yet to receive the additional data we requested from BOCSAR to help us locate exactly where these crimes occurred.
<a href="https://images.theconversation.com/files/298427/original/file-20191023-119429-qgf5xh.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298427/original/file-20191023-119429-qgf5xh.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Counts of crimes (per SA1 region) that were assigned to both the CBD and Kings Cross. Centre for Translational Data Science, Author provided
With the removal of those 1,837 crimes from the CBD, we detected no decrease in non-domestic assaults. But BOCSAR apparently did. After removing those crimes from the CBD, BOCSAR released an <a href="https://www.bocsar.nsw.gov.au/Documents/BB/2019-Report-Effect-of-lockout-and-last-drinks-laws-on-assaults-BB142.pdf" target="_blank">updated report</a> to a <a href="https://www.parliament.nsw.gov.au/committees/listofcommittees/Pages/committee-details.aspx?pk=260" target="_blank">parliamentary inquiry into Sydney’s night-time economy</a>. This report claimed assaults in the CBD decreased by 4% (much less than the original 13%).
The committee then asked for our <a href="https://www.parliament.nsw.gov.au/ladocs/other/12591/Centre%20for%20Translational%20Data%20Science.pdf" target="_blank">comments</a>. We found the report did not provide a confidence interval for this decrease. Yet the report made a virtue of reporting uncertainty estimates for other quantities and elsewhere it claimed “statistically significant” results.
We replicated BOCSAR’s analysis and found the change in crime could have been as low as a 12% decrease and as high as a 6% increase. In other words, the result is “statistically insignificant”.
What are the implications for making policy?
Why does this matter? There are two reasons.
First, the danger in not explaining, quantifying and reporting uncertainty is that the public loses trust in data-driven policymaking. Only if conclusions acknowledge and explain the uncertainty inherent in inferring complex quantities from data can we make robust and explainable policy decisions that build trust with the public.
Second, if we don’t accept and report uncertainty we could stop looking for other explanations. We might then fail to achieve an outcome that everyone wants: a reduction in violence and a healthy night-time economy.
How do we proceed from here? We’d make two recommendations:
<ol>
<li>
The institution that collects and curates the data should be distinct, informed but independent from the institution/s that analyse the data.
</li>
<li>
There should be as much data transparency as possible, which would enable different groups to perform different types of analyses, using different sources of data.
</li>
</ol>
We are almost certain these different groups would produce different findings, but the subsequent discussion could provide insights that move us closer to more robust and acceptable policy decisions.
To <a href="https://www.brainpickings.org/2012/08/27/richard-feynman-on-the-role-of-scientific-culture-in-modern-society/" target="_blank">quote</a> Nobel Prize-winning physicist Richard Feynman: "If we will only allow that, as we progress, we remain unsure, we will leave opportunities for alternatives … to make progress, one must leave the door to the unknown ajar."
The <a href="https://www.parliament.nsw.gov.au/ladocs/inquiries/2519/Report%20-%20Sydneys%20night%20time%20economy.pdf" target="_blank">parliamentary committee’s recommendation</a> that BOCSAR and the Centre for Translational Data Science work together more closely appears to do just that. We look forward to an ongoing collaboration to further our understanding of the drivers of violent crime.<img src="https://counter.theconversation.com/content/125227/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;">
Sally Cripps, Professor of Statistics, Director of Centre for Translational Data Science, <a href="http://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of Sydney</a>.
Roman Marchant, Senior research fellow and lecturer, <a href="http://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of Sydney</a>.
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/sydney-lockout-laws-review-highlights-vital-role-of-transparent-data-analysis-125227" target="_blank">original article</a>.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News