Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

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>
Nine adjoining terraces in Surry Hills have been listed for sale in one line.
The three level terraces, from <a href="https://www.realcommercial.com.au/property-offices-nsw-surry+hills-503327066" target="_blank">238-250A Riley Street</a>, were redeveloped by Darlinghurst architecture firm Humphreys &amp; Edwards in 2016 when the third levels were added using Mansard roof form.
Each terrace comprises three levels of commercial office space. There are 10 commercial tenancies in total which provide a net annual income of $478,052.
Hair salon Scout Hair, design agency ET Collective and tattoo parlour Tattoo Rosie's make up some of the current tenants.
<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/2019/9/17/238-250A%20Riley%20Street%201.jpg" alt="">
The building on nearly 500 sqm has 35 metre frontage to Riley Street and includes two off street packing spaces in a double lock up garage from Ann Street.
There's around 975 sqm of net lettable area.
Richardson &amp; Wrench Commercial agents Victor Negrine and Angus Morrison have the listing that goes to auction October 17.
 
 
 
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jrobinson-rf4aSBido9

Nine Surry Hills terraces listed in one line

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The Teneriffe restaurant and bar space of Streetcorner Jimmy, in the London Woolstore building, has sold at auction for $1.34 million.
The ground floor commercial premises at 36i Vernon Terrace had strong interest from a range of different investor profiles
Bidding began at $1 million, with seven bids taking the final sale price to $1.34 million.
The sale reflected around a 7.3 per cent yield.
“We had more than 65 people enquire about the asset and that culminated in three registered bidders battling it out on the day,” Ray White agent Michael Feltoe said.
<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/2019/9/17/36%20Vernon%20Terrace.jpg" alt="">    "Fundamentally, the investment ticked all the boxes, an unrivalled corner location in a high-traffic area and a landlord friendly lease to a high-quality tenant, who's performing exceptionally well."
The 140 sqm internal area and 75 sqm outdoor space has recently undergone an internal refurbishment, paid for by Streetcorner Jimmy, to create a rustic, urban space.
They restored the unique character features of the building, with complementing modern elements.
Streetcorner Jimmy have a five-year net lease until 2023 with a fixed four per cent annual increase.
They have options until 2034 and are currently paying $98,800 + GST per annum.
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Streetcorner Jimmy premises in Teneriffe sells at auction

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EXPERT OBSERVER
 
On the way home, you wander into the supermarket for a loaf of bread. But before you reach the bread aisle, you drop in your prescription at the supermarket pharmacy. Shopping done, you pick up your pills on the way out.
Across the US, UK and mainland Europe, supermarket pharmacies are becoming the norm. But in Australia, they’re banned.
The Commonwealth government is negotiating the <a href="https://www1.health.gov.au/internet/main/publishing.nsf/Content/New-7th-Community-Pharmacy-Agreement" target="_blank">seventh Community Pharmacy Agreement</a> with pharmacists, which outlines how community pharmacy is delivered over the next five years, who delivers it and where.
So could pharmacies in supermarkets be an option for Australia?
<h2>How common are they?</h2>
Overseas, pharmacies have been in supermarkets for decades. In the UK, supermarkets like <a href="https://www.asda.com/about/instore/pharmacy" target="_blank">ASDA</a>, <a href="https://assets.publishing.service.gov.uk/media/56e1a52d40f0b6037900001d/Tesco_hearing_summary.pdf" target="_blank">Tesco</a>, <a href="https://my.morrisons.com/help/information/store-services/pharmacy/" target="_blank">Morrisons</a> and <a href="https://www.sainsburys.co.uk/webapp/wcs/stores/servlet/gb/groceries/get-ideas/our-instore-services/--sainsburys-pharmacy?storeId=10151&amp;langId=44&amp;krypto=3Yh4GQ%2BNdq51nNqI8mxTmkZXe9Ggb9L33GTajzfwdGXhiQftJrJArZAib4hw%2Bs8JTxwLH2HfrQCChmYTBIAbS7BEz2U5FalmUXfV%2FK4wt6OhdFjJrMlhiZMBhuu2s45yNiOQDTkMs%2BONJUT5MWYlSGhWL5pH5YQM9gRqD0wFloM%3D&amp;ddkey=https%3Agb%2Fgroceries%2Fget-ideas%2Four-instore-services%2F--sainsburys-pharmacy" target="_blank">Sainsbury’s</a> have them. And so do <a href="https://www.propertyobserver.com.au/https://www.walmart.com/cp/pharmacy-services/1088604" target="_blank">Walmart</a>, <a href="https://www.kroger.com/topic/pharmacy" target="_blank">Kroger</a> and <a href="http://www.publix.com/pharmacy-wellness/pharmacy/pharmacy-services" target="_blank">Publix</a> in the US.
Canada’s largest supermarket Loblaw <a href="https://www.thestar.com/business/2010/05/04/loblaw_plans_drugstore_expansion" target="_blank">announced plans</a> in 2010 to expand more aggressively into the pharmacy business. It later bought pharmacy chain <a href="https://www.newswire.ca/news-releases/loblaw-companies-limited-completes-acquisition-of-shoppers-drug-mart-corporation-514006661" target="_blank">Shoppers Drug Mart</a>.
<h2>Arguments against</h2>
The Pharmacy Guild of Australia argues pharmacies in supermarkets means community pharmacies would be unable to compete, supermarkets would put shareholders’ interests ahead of patients, and consumer protection would be lost. Such critics argue supermarkets would push smaller players out of the market, limiting consumer choice and access.
The Guild also suggests it would be hypocritical for supermarkets to run pharmacies when <a href="https://www.guild.org.au/news-events/news/2013/12/19/supermarkets-and-health-care-don-t-mix" target="_blank">they rely on</a> cigarette and alcohol sales.
Overseas, there is public support for small, independently run community pharmacies over supermarket-owned ones.
For instance, in 2013 <a href="https://www.cheshire-live.co.uk/news/chester-cheshire-news/residents-rallied-behind-helsby-pharmacy-5191264" target="_blank">almost 2,000 people petitioned against</a> supermarket giant Tesco, fearing an existing pharmacy across the road would be “bulldozed” out of business.
<h2>Arguments for</h2>
The main arguments for pharmacies in supermarkets seem to be they would offer the public a <a href="https://www.retailwire.com/discussion/would-you-go-to-walmart-to-see-a-doctor/" target="_blank">cheaper and more convenient service</a>.
For instance, <a href="https://corporate.walmart.com/newsroom/2005/01/04/wal-mart-unveils-24-hour-pharmacies" target="_blank">Walmart</a> employs more than 10,000 pharmacists across 3,000 retail pharmacies throughout the US and launched a 24 hour pharmacy service over a decade ago. Then it began dispensing generic medications for as <a href="https://corporate.walmart.com/newsroom/2006/09/20/wal-mart-cuts-generic-prescription-medicines-to-4" target="_blank">little as US$4</a>.
Supermarkets also seem committed to supporting pharmacies in store, despite tough times. In 2019, Tesco, which runs 300 in-store pharmacies, <a href="https://www.chemistanddruggist.co.uk/news/tesco-pharmacy-staff-9000-job-cuts" target="_blank">reported</a> no pharmacy staff positions would be lost when 9,000 store positions became redundant.
There are also <a href="https://www.news.com.au/finance/business/retail/a-chemist-can-own-a-supermarket-but-supermarkets-cant-own-a-pharmacy/news-story/fe97c42c3d2b55bbb613559cbf194cc1" target="_blank">claims of hypocrisy</a>. Why does existing Australian legislation prevent a supermarket from owning a pharmacy, but not a pharmacy from owning a supermarket?
<h2>What might work in Australia?</h2>
If Australia follows international trends, we might consider two models:
<ul>
<li>straight-out ownership, where a supermarket owns a chain of pharmacies and employs pharmacists to run them, or</li>
<li>a strategic alliance, where a pharmacy chain, like Chemist Warehouse, has smaller versions of its stores inside a supermarket.</li>
</ul>
<a href="https://images.theconversation.com/files/292346/original/file-20190913-35596-1bt65lt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/292346/original/file-20190913-35596-1bt65lt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a> In-store pharmacies might be convenient, but is that enough to convince policy makers they’re right for Australia? <a class="source" href="https://www.shutterstock.com/image-photo/pharmacy-pickup-area-237587" target="_blank">from www.shutterstock.com</a>
Examples of straight-out ownership include Sainsbury’s in the UK and Walmart in the US. This arrangement allows them to sell these assets at a later stage.
This is what happened with Sainsbury’s, which <a href="https://www.theguardian.com/business/2015/jul/29/sainsburys-sells-pharmacy-business-celesio-125m" target="_blank">sold its 281-store pharmacy business</a> to Celesio, the owner of the Lloyds Pharmacy chain, for £125m in 2015. Sainsbury’s indicated the move would enable further growth, while extending their pharmacy services to customers.
In an example of a strategic alliance, UK pharmacy chain Boots and supermarket Waitrose <a href="https://www.propertyobserver.com.au/https://www.campaignlive.co.uk/article/experts-weigh-marketing-benefits-waitrose-boot-tie-up/941645?src_site=brandrepublic" target="_blank">agreed in 2009 to stock each other’s products</a>.
<a href="https://www.boots.com/stores/6313-lichfield-waitrse-ws13-6rx" target="_blank">Boots supplied</a> health care, pharmaceutical products and services, like flu jabs and medical check-ups to Waitrose, and Waitrose supplied food to Boots. Pharmacies in 13 Waitrose stores were also re-branded “Boots Pharmacy”.
 
However, existing legislation prevents either option in Australia unless changes are made in the new Community Pharmacy Agreement. This is because <a href="https://www.guild.org.au/news-events/news/forefront/v08n16/ownership-a-foundation-stone" target="_blank">current pharmacy ownership rules</a> prevent supermarkets or anyone (other than a pharmacist) from owning a pharmacy.
If ownership rules were lifted, but <a href="https://www1.health.gov.au/internet/main/publishing.nsf/Content/DDB409EBB18FCE8FCA257BF0001D3C0C/%24File/Pharmacy%20Location%20Rules%20Applicants%20Handbook%20December%202018.pdf" target="_blank">location</a> rules remained, supermarkets would be prevented from operating pharmacies opening within 1.5km of one another.
This means if Coles had an in-store pharmacy, then Woolworths across the road, could not operate one, and vice versa. And if there was already a pharmacy in the neighbourhood, neither could open one, even if ownership rules were relaxed.
<h2>Are we set for regulation or liberalisation?</h2>
The <a href="https://www.guild.org.au/" target="_blank">Pharmacy Guild of Australia</a>, which represents owners of community pharmacies, and the <a href="https://www.psa.org.au/" target="_blank">Pharmaceutical Society of Australia</a>, which represents individual pharmacists, both support current ownership rules — strong regulation over ownership and location.
However, pharmacy giant Chemist Warehouse and Ramsay Health Care (which owns pharmacies as well as private hospitals), <a href="http://competitionpolicyreview.gov.au/files/2015/03/Competition-policy-review-report_online.pdf" target="_blank">say</a> ownership rules are redundant and ineffective. And they’re not alone.
Critics of the current Community Pharmacy Agreement <a href="https://grattan.edu.au/wp-content/uploads/2018/05/208-2016-09-23-grattan-institute-submission.pdf" target="_blank">argue</a> over-regulation of pharmacies, particularly surrounding ownership and location, limits competition and growth.
And in 2015 the <a href="http://competitionpolicyreview.gov.au/final-report/" target="_blank">Harper Report</a> into competition policy recommended:
[…] pharmacy ownership and location rules should be removed in the long-term interests of consumers. They should be replaced with regulations to ensure access to medicines and quality of advice regarding their use that do not unduly restrict competition.
European countries seem to be moving towards deregulation. In 2017 Italy <a href="https://www.hlregulation.com/2017/08/02/italy-opens-the-door-to-corporate-ownership-of-pharmacies-a-revolution-for-the-italian-pharma-distribution/" target="_blank">passed legislation</a> to allow corporate entities to own a pharmacy business, and also increased the number of pharmacies a proprietor may own.
<a href="https://images.theconversation.com/files/292339/original/file-20190913-190044-1tczc4s.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/292339/original/file-20190913-190044-1tczc4s.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> In the US, in-store pharmacies in supermarkets are common, convenient and can offer cheaper products. But current Australian pharmacy ownership rules ban them. <a class="source" href="https://www.shutterstock.com/image-photo/shopping-basket-pills-concept-buying-drugs-1289871286?src=-1-2" target="_blank">from www.shutterstock.com</a>
So what are the impacts of deregulation? If we look at <a href="https://www.sciencedirect.com/science/article/abs/pii/S0168851009002875" target="_blank">evidence</a> from Europe, when the UK relaxed ownership and location rules, pharmacies operated more efficiently. Pharmacies also had more freedom to set prices for over-the-counter products and offered a wider range of services.
Yet, the same research also found where there was stronger regulation, such as in Spain, consumer access to pharmacy improved, as new pharmacies were opened based on geographic, demographic or needs-based criteria. Simply, if there was already one pharmacy servicing a neighbourhood, they didn’t need another.
<h2>Is Australia likely to see supermarket pharmacies?</h2>
Whether Australia is likely to see supermarket pharmacies any time soon is open to debate.
In a speech to the Pharmacy Guild’s national conference in 2019, federal health minister Greg Hunt <a href="https://www.guild.org.au/news-events/news/2019/minister-hunt-delivers-support-for-community-pharmacy" target="_blank">said</a> there would be no change to the ban on locating pharmacies within supermarkets.
However, other powerful groups are calling for change. These include the <a href="https://ama.com.au/media/new-working-group-look-pharmacy-agreement" target="_blank">Australian Medical Association</a>, which wants the regulations changed to allow broader ownership of pharmacy businesses.
If supermarkets were to guarantee <a href="https://www1.health.gov.au/internet/main/publishing.nsf/Content/New-7th-Community-Pharmacy-Agreement" target="_blank">sufficient controls</a> — such as to ensure the safe use of medicines, staff were properly trained and there were safeguards to ensure equitable access for elderly patients, Aboriginal and Torres Strait Islander people, particularly people living in rural and remote areas — it would be hard to argue for existing rules about pharmacy ownership and location.<img src="https://counter.theconversation.com/content/122640/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;">
<a href="https://theconversation.com/profiles/gary-mortimer-1322" target="_blank">Gary Mortimer</a>, Professor of Marketing and Consumer Behaviour, <a href="http://theconversation.com/institutions/queensland-university-of-technology-847" target="_blank">Queensland University of Technology</a> and <a href="https://theconversation.com/profiles/louise-grimmer-212082" target="_blank">Louise Grimmer</a>, Lecturer in Retail Marketing, Tasmanian School of Business and Economics, <a href="http://theconversation.com/institutions/university-of-tasmania-888" target="_blank">University of Tasmania</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/a-loaf-of-bread-and-a-packet-of-pills-how-supermarket-pharmacies-could-change-the-way-we-shop-122640" target="_blank">original article</a>.
Main photo: www.shutterstock.com
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j.ballantyne1990-6AQqhLzZaK

A loaf of bread and a packet of pills: how supermarket pharmacies could change the way we shop

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Greaton has lodged a development application for its Wirra Wirra Wellness Resort project with the City of Onkaparinga. 
The resort will be built on Wirra Wirra’s grounds at 255 Strout Road, McLaren Vale, 38 kilometres south of Adelaide. 
The project will be delivered in a partnership with Wirra Wirra winery.
The $30 million-plus resort, the first luxury accommodation in the region, will be situated amongst vineyards between the existing Wirra Wirra winery and the heritage property that once belonged to founder Robert Wigley, which will be repurposed as resort accommodation. 
Greaton has appointed Bangkok/Singapore-based luxury resort architects Blink Design Group.
The group's portfolio of premier resorts includes the Fairmont Sanur Beach Bali, Four Seasons Resort Bali at Jimbaran Bay, the Six Senses Uluwatu – all in Bali - the Ritz-Carlton, Juizhaihou in Sichuan China and the Viceroy Princes’ Islands Istanbul in Turkey. 
The 33-key resort will be spread across 10 separate buildings, with nine double-storey buildings, known as casitas, to be built.
The existing Wigley house will be transformed into a Bridal Suite.
Sparrow’s Lodge, a vacant building at the winery entrance, will be repurposed as a guests’ reception. 
Guest facilities will include a swimming pool – set within a reflection pool – as well as a function hall and wellness centre.
<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/2019/9/16/WIRRA%20WIRRA_Walkway%20View.jpg" alt="">
Nicho Teng, Managing Director, Greaton, says the project will bring an unsurpassed level of luxury to the region.  
“The Wirra Wirra resort will be like nothing else in South Australia,” said Teng.
“We are proud to bring the expertise of an internationally-acclaimed architectural firm that specialises in luxury accommodation to this location.
“This is their first project in Australia, and I’m honoured to bring them to my home state.
“South Australia, and particularly the McLaren Vale region, well and truly deserves a high-end resort like this.
“We have no doubt it will attract more well-heeled tourists to the area which will directly increase local tourism revenue.  
“We are also very excited to be negotiating with an international wellness-oriented resort operator who also have no current presence in Australia.
“Whilst we are not in a position to reveal who they are just yet, we can say they operate some of the most renowned resorts and hotels around the world.”
The internationally renowned McLaren Vale is the gateway to the Fleurieu Peninsula, which accounts for an average of 762,000 overnight tourist stays worth $258 million in expenditure annually.
Renowned for its Shiraz, the McLaren Vale region also excels in the production of ultra-premium Grenache and Cabernet, along with many other grape varieties, whilst Wirra Wirra is best known for its famous red Church Block blend.  
Daniel Smedley, Director, Studio S2 Architects, the South Australian architecture studio commissioned to undertake documentation and compliance for the Wirra Wirra project, said the site provided great inspiration with its historic buildings and vineyard landscape.  
“The resort has been designed to reflect elements of the buildings on site and in the region, and to enjoy the vineyard and Australian bushland setting, while respecting the wine region aesthetics that McMurtrie Road provides,” said Smedley. 
"This will be achieved by designing the buildings to sit behind and blend in with the native tree line.  
“The buildings will be finished with a mix of local limestone, granite and bluestone, with hardwood natural stained finishes. The rooves will be in dark grey metal sheet roof cladding to fit in with its surrounding context. 
“As a local architectural practice specialising in tourism projects, we are excited to be working on a project of this calibre in conjunction with the team at Blink Design Group, and a local consulting team, while continuing our long-term working relationship with Wirra Wirra.”
Andrew Kay, Managing Director, Wirra Wirra, said they were very pleased with the direction and progress the resort project was taking.  
“The design is well integrated into the winery site and shows great empathy with our surroundings,” Kay said.
“To introduce the first five-star resort operation in McLaren Vale is not just a coup for us, but a catalyst for job creation, upskilling and growth in the region.  
“The knock-on effect to local businesses and suppliers cannot be underestimated and I look forward to seeing the economic and community benefits from this investment in wine tourism.”  
Construction is scheduled to commence in November 2020, with completion slated for July 2022.
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DA lodged for $30 million Wirra Wirra Wellness Resort in McLaren Vale

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EXPERT OBSERVER
It’s been fascinating watching the ripple effect spread real estate growth throughout regional Victoria.
While the Melbourne market has been in decline in the past 18 months or so (generally speaking - some sectors have strongly resisted price decreases), there’s been notable price growth happening in Victoria markets outside the state capital.
Over the past 12-18 months, I have nominated Regional Victoria as the strongest market in the nation. Regional Victoria has been – and still is - one of the nation’s outstanding jurisdictions on price performance.
The standout feature in my latest analysis of sales activity and price trends is that locations a greater distance from Melbourne are now enjoying significant growth in prices.
Initially, most of the growth markets were locations within commutable distance of the Melbourne metropolitan area. It started with Geelong (pictured above) and, just outside the south-eastern outskirts of the metro area, the key towns of Cardinia Shire, Pakenham (below) and Officer.
<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/2019/9/16/Pakenham.jpg" alt=""> Pakenham from above.
Then we saw Ballarat and the hill change towns a little north of Melbourne start to grow, as well as the towns of Baw Baw Shire in the east (Warragul and Drouin).
More recently, Bendigo in the north and the towns of the Latrobe Valley in the east have got on board.
And now growth markets are being found in locations more distant from the state capital, including Wodonga, Wangaratta, Echuca and Mildura. Some of the towns of East Gippsland (where I was last week, speaking at two events in busy Bairnsdale) are showing signs of growth as well.
My analysis of price trends shows that 84% of Regional Victoria markets have recorded median price growth in the past 12 months. Price decline of any magnitude is rare: I can find only one regional location where the median house price has fallen more than 5%.
Six out of 10 Regional Victoria markets have recorded median price growth above 5% in the past year – a total of 96 strong growth markets in the state outside of Melbourne, of which 35 have had double-digit growth in their median house prices. Another 39 markets have recorded price growth under 5%.
Ballarat is the standout on price performance. Four suburbs have had annual growth in their median house prices of 20% or more – Mt Pleasant (29%), Brown Hill (22%), Golden Point (21%) and Wendouree (20%).
But the No.1 location for annual price growth is the town of Maldon (below) in the Mt Alexander LGA north of Melbourne, where the median has risen 30% to $525,000 in past 12 months.
<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/2019/9/16/Maldon.jpg" alt=""> Maldon high street.
Notable price growth is happening elsewhere around the state: locations with annual median price growth between 15% and 20% include Cowes and Wonthaggi in the Bass Coast LGA; Geelong suburbs Drysdale, Whittington and St Leonards; Woodend in the Macedon Ranges LGA; Venus Bay in South Gippsland; Loch Sport in the Wellington LGA; Koo Wee Rup in Cardinia Shire; and Daylesford in the Hepburn LGA.
Many of these markets, especially Geelong, Ballarat and Bendigo, are attracting buyers out of Melbourne, as both investors and home-buyers seek affordability and/or better rental yields.
And new growth markets are emerging further afield.
Wangaratta (median house price $315,000) has emerged as a market where sales demand has grown steadily over the past two years. Quarterly sales have risen from 80-85 two years ago to around 120 more recently. Its median price has risen 11% in the past 12 months.
Further north at the NSW border, Wodonga (median $340,000) presents as a solid market with growing strength.
In the western precinct of the state, Port Fairy has growing sales activity and its median house price has increased 7% to $615,000 in the past year.
Other precincts which show promise of joining the general growth trend in Regional Victoria include the LGAs of Wellington (where Sale has rising sales activity), Latrobe (including Traralgon and Morwell), and East Gippsland (where Bairnsdale, Paynesville and Lakes Entrance have steady activity, with signs of prices rising).
All those municipalities are east of Melbourne, where growth is gradually rippling out from previous up markets in the LGAs of Cardinia (Pakenham and Officer) and Baw Baw (Warragul and Drouin).
But the growth isn’t just a reaction to the ripple effect and markets following the lead of Melbourne’s recent boom. Markets don’t rise unless something is happening in the local environment – such as a busy local economy, new business ventures, improved transport links and/or new spending on infrastructure.
The background is strong. The state of Victoria is the No.1 ranked economy in the nation, according to CommSec’s State of the States report, and continues to lead the nation on population growth. 
The states leads Australia on a number of other key indicators, including income growth, improvement in the jobless rate, building approvals, uplift in housing affordability and the number of first-home buyers active in the market.
All of that is helping to create the environment in which locations across Victoria have rising property values.
 
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
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terryryder-YECXbqmri2

More regional Victoria areas seeing over five percent yearly gains: Hotspotting's Terry Ryder

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Six markets including Melbourne, Coffs Harbour and Dubbo have all reached the peak of the market, according to valuation firm Herron Todd White latest report.
In their September National Property Clock for the office market, Herron Todd White also found office markets in Illawarra, Ballina/Byron Bay and South East NSW had began to peak.
The Sunshine Coast is the only office market that has been at the peak for over a month.
Newcastle joined Geelong and Sydney in the approaching the peak of the market.
Three capital cities remained in a bottom of the market position, Darwin, Perth and Hobart.
They are joined by Cairns, Launceston, Mackay, Rockhampton and Townsville.
"The commercial sector has traditionally offered investors a way to boost yield in their portfolios, but as you’ll see in our report, there are some surprises," the HTW report noted.
"Quite a few of our major centres are seeing strong buyer demand for office space and this has translated into tight yields."
"Other localities are experiencing a struggle, which can spell opportunity for investors keen to purchase at the bottom of the cycle," they concluded.
Click <a href="https://www.propertyobserver.com.au/images/2019/9/16/HTW%20Office%20Clock%20Septemer%202019.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/9/16/HTW%20Office%20Clock%20Septemer%202019.JPG" alt="">
Ballarat held steady as a rising market while Brisbane, Ipswich, Canberra/Q'berra and the Central coast have started their office market recovery.
They have joined Adelaide, Emerald, Toowoomba and Mildura in the start of a market recovery.
The Gold Coast, Mid North Coast and Lismore are still starting to decline.
Echuca and Alice Springs have remained unmoved in the declining market position, while South West WA remains near the bottom of the market.
The Gladstone office market joined them at the approaching bottom of market position on the clock.
 
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Melbourne among six office property markets to peak: HTW September Office Clock

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Property developer Pace has purchased a development site in Hawthorn East.
They've paid $4,062,500 for the warehouse property at 9 Montrose Street which is currently the home of Crossfit Gym. It currently returns $75,000 per annum.
Despite being sold with plans for a nine level apartment building with 34 units designed by Rothelowman, Pace chief executive Shane Wilkinson says the development firm intend to turned the 475 sqm property in to a high-end boutique office building.
“The timing is right for us to take advantage of the record low commercial vacancy throughout the inner eastern suburbs,” Wilkinson said. 
“With the abundance of local amenity surrounding the property, we are confident that a new office project will be very well received by the market.” 
Savills Australia agents Clinton Baxter, Jesse Radisich, and Glenn Ye negotiated the deal with a yield of 1.8%.
It sold at $8,500 per sqm.
Baxter said market development sites had “roared back to life” over the last two months after a “period of stagnancy.” 
“With local and offshore developers snapping up sites and competing aggressively for prime real estate, clearly the looming shortfall in construction activity coupled with ongoing population growth is creating a perfect scenario for developers over the next 1-3 years.”
 
 
 
 
 
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Developer Pace snap up $4 million Hawthorn East site to create boutique office block

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It's been a busy month in Sydney's hole in the wall coffee industry.
Fresh off the back of a <a href="/expert-insights/investing/14-sqm-york-street-sydney-normcore-coffee-premises-sold-for-112-143-per-sqm-at-auction">14 sqm hole in the wall selling on York Street</a>, a <a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-503328030" target="_blank">cafe at 229 Macquarie Street</a> has popped up for sale.
Hole in the Wall Café has been listed for sale with a secure tenant paying $60,106 per annum, with annual two per cent increases.
There are currently 11 years remaining on the lease, with six years + a six year option.
The property comprises a tiny five square metre shop front and a 38 sqm kitchen upstairs on level five where sandwiches are made.
It has been held in the same family for two generations.
<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/2019/9/16/Hole%20in%20the%20Wall%20Cafe%20229%20Macquarie%20Street.jpg" alt="">
Savills agents Tom Tuxworth, Nick Lower and Selin Ince are taking the commercial property under the hammer October 18, with industry sources speculating it will sell in excess of $800,000.
The agents suggest the space gets heavy foot traffic from the surrounding train stations and Law Courts of NSW. 
Kim Beazley and Nick Whitlam are said to have been customers.
Lower says early interest is "incredibly strong."
The listing comes shortly after Savills secured $1.57 million for <a href="/expert-insights/investing/14-sqm-york-street-sydney-normcore-coffee-premises-sold-for-112-143-per-sqm-at-auction">another hole in the wall coffee shop</a> on York Street.
The sale of the Normcore Coffee premises (below) represented $112,143 per sqm, given it's small 14 sqm size.
<img src="https://www.urban.com.au/images/2019/9/16/Normcore%20Coffee%20-%20York%20Street.jpeg" alt="">
The successful purchaser was a Sydney local who was making his first foray in to the commercial property market.
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Hole in the Wall Cafe on Sydney's Macquarie Street listed through Savills

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Domayne furniture Hire and Property Styling has snapped up a 7 year lease of an office and warehouse in Brisbane’s northern suburb of Northgate
Situated at 16&amp;17/62 Crockford Street, the asset that came with a 2,398 sqm building area and a 4,000 sqm site area, was signed up for an initial seven year leasing term with an additional three year option.
The agents declined to comment on the rental, however industry sources say it was between $135-$155 per sqm.
The property was marketed and leased by Ray White Commercial Queensland Senior Sales and Leasing Executives Aaron Aleckson and Andrew Doyle and Director – Brokerage Services Paul Anderson, with CBRE as co-listing agents.
Director of Domayne furniture Hire and Property Styling, Melinda Littman said, “moving into the new Crockford Street Northgate location in early 2020, the 2,382 sqm single building over two titles hopes to support the business expand further over the next seven years.”
Mr Doyle said it was pleasing to see another quality tenant move into the estate at 62 Crockford Street. “The draw card for this estate really has been the medical precinct and restaurant at the entrance to the site,” he said. “Domayne now joins a quality list of tenants to the estate such as Thyssenkrupp, Bayer Pharmaceuticals and Bevis and Bartels.” Mr Anderson said they had seen a spike in enquiry on the speculatively built warehouses in the North Gateway Precinct with a number of tenants still actively looking. “It offers many benefits associated with being right on the Gateway Motorway, with easy access to the Brisbane Airport, CBD and Airport Link tunnel.”
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Domayne Furniture Hire take up seven year Northgate office warehouse lease

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EXPERT OBSERVER
A recession is formally defined as two consecutive quarters of negative GDP growth or negative growth in annual terms.
Australia has not had such an event since the early 1990’s. However there is ample evidence that the economy is weak:
1. GDP per capita has contracted over the year. 2. Consumer spending per capita has contracted over the year. 3. Private domestic demand has contracted over the year.
In terms of how the economy might “feel” to households, in particular, these measures certainly point to a downbeat economic climate.
But this is not a recession with the associated extreme pain for households, businesses, and institutions.
So why has Australia not experienced a technical recession since the early 1990’s?
Strong population growth: potential growth is measured as growth in the work force adjusted for productivity growth. Using the global benchmark of 1% for productivity growth, Australia’s potential growth rate is around 2.75% compared to the US of 1.75% and Europe of 1.2%. A high potential growth rate is some protection against a technical recession but, as discussed above, when measured on a per capita basis, Australia has experienced periods of negative growth.
At the times of major external shocks – GFC is the best example – Australia’s fiscal position has been in solid shape to accommodate a strong (“go hard; go households”) policy response which is further complemented by the automatic stabilisers (via lower tax and higher welfare payments). Australia’s budget position went from a surplus of 1.7% of GDP in 2007/08 to a deficit of 4.2% of GDP in 2009/10. Australia’s surplus is currently estimated at around 0.5% of GDP in 2019/20 – lower than in 2007/08 but a surplus no less.
A flexible exchange rate – in the GFC and in the Asian Financial Crisis (1997/98) the AUD adjusted into the USD 0.50’s to offset the impact of the shock.
A flexible labour market also helped during the more recent shocks – employers tended to adjust hours worked rather than staffing levels, cushioning some of the ‘second round’ impacts on household incomes. The more rigid industrial relations systems that prevailed in the 1970s, 1980s and early 1990s made it more difficult to absorb cyclical shocks.
Compensating cycles: most recently, when the mining boom turned down the Australian economy was boosted by the state government infrastructure boom and the residential (mainly high rise) construction boom.
When it appeared that Australia was headed for two consecutive quarters of GDP contraction in 2008 Q4 and 2009 Q1, domestic demand did contract in those quarters (low point of the GFC) but GDP expanded in 2009 Q1 due to the impact on net exports of China’s massive post GFC stimulus package. With the media speculating on a technical recession, the announcement that Australia had avoided a technical recession saw a spectacular (8%) boost in Consumer Sentiment.
Government policy, apart from the fiscal stimulus, also helped Australia avoid a recession in the GFC as banks, whose access to offshore liquidity was under huge pressure, were able to purchase a Commonwealth government guarantee that allowed the rollover of existing short term debt (recall that in that period banks’ wholesale funding was around 60% of total liabilities)
Read the Westpac's full report '<a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/September/er20190913BullARecession.pdf" target="_blank">Australia's record recession free run'</a>.
BILL EVANS is Chief Economist for Westpac
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