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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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>
EXPERT OBSERVATION
Employment increased by a stronger than expected 41,100 jobs in July recovering from a loss of -2,300 jobs (revised) in June.
Annual employment growth slightly increased to 2.6%, from 2.4% the month prior.
Full time employment rose by 34,500 building on a gain of 21,100 in June. Part-time employment rose by 6,700 after being preceded by a loss of 23,300 jobs last month.
The unemployment rate remained steady at 5.2% retaining an uptrend from a low of 4.9% in February. The participation rate increased marginally to 66.1%.
Hours worked were up 0.5% after being flat last month and annual growth has recovered to 2.0%.
Underemployment in the labour market rose slightly to 8.4% compared to 8.2% in June, and remains very high.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/job%20growth%20vs%20unemployment%201.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/8/15/job%20growth%20vs%20unemployment%201.png" alt="">
Source: ABS, AMP Capital
Jobs growth improved strongly in July, albeit after last month’s glacial pace of additions was revised to a net loss of jobs. 
However, a rise in the participation rate prevented the unemployment rate from falling.
 Meanwhile, despite a modest improvement in the last few months our Jobs Leading Indicator continues to point to slower jobs growth ahead on the back of a slowing trend in jobs ads, job vacancies and hiring plans, so we still see a further slowdown in jobs growth over the next six months as the housing construction downturn flows through the economy. 
This is likely to see trend jobs growth continue to fall well below the roughly 19,000 new jobs needed each month to absorb new entrants to the labour force. 
As a result we continue to see unemployment drifting up to 5.5% by the end of the year.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/employment%20.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/8/15/employment%20.png" alt="">
 
Source: Bloomberg, AMP Capital
 
Labour market underutilisation ticked up to 13.6% in July from 13.4% in June as underemployment rose indicating that “spare capacity” in the labour market remains very high.
 The comparable measure in the US is just 7% and it fell last month! With jobs growth expected to slow in Australia, labour market underutilisation is likely to remain high and this in turn will prevent much if any pick up in still weak wages growth.
<a href="https://www.propertyobserver.com.au/images/2019/8/15/labour%20marekt.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/8/15/labour%20marekt.png" alt="">
Source: Bloomberg, AMP Capital
Implications
The rise in unemployment from 4.9% earlier this year and continuing high underemployment indicates that significant “spare capacity” remains in the labour market and in the economy.
The rebound in employment growth seen in July may provide the RBA with some encouragement and breathing space.
However, while the RBA’s back-to-back rate cuts, tax refunds for low and middle income earners and strong infrastructure investment should help limit the rise in unemployment to around 5.5%, they are unlikely to be enough get unemployment down to the 4.5% or less needed to see stronger wages growth and higher inflation.
And in the meantime the risks of even slower global growth on the back of the escalating US/China trade war are rising as indicated by falling share markets and bond yields racing to zero and below.
As a result we remain of the view that the RBA will have to cut rates further and see the next 0.25% cut coming next month followed by another cut in November ultimately taking the cash rate down to 0.5%.  
Dr Shane Oliver Head of Investment Strategy and Chief Economist AMP Capital
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RBA on track to cut to 0.5% by year end: Shane Oliver 

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A three level red brick building in Clifton Hill is on the market with $4.9 million hopes.
The property at 24 Groom Street with an area of 925 square metres is on a corner site.
It has a site area of 340 square metres plus additional seven off street car parks. 
The vendor has recently completed a strip out of the until recent commercial office use of the building which now exposes the cavernous building spaces and the fabric of the structure. 
Gray Johnson director Brett Simpson says these works also expose the opportunity to create a single floor repurposing.
“There is even an opportunity to add mezzanine floor spaces,” Brett Simpson adds. 
“The character is derived from the history of uses dating back to the 1900s with the 24 Groom Street building acquiring its history and various uses along the way. 
“For instance, this building was taken over in September 1911 by the then Department of Defence and became the home of the Commonwealth Harness, Saddlery and Leather Accoutrements Factory, with an occupancy that extended until the late 1920s as a manufacturer of equipment for the armed forces. 
“I understand that during this period it became the provider of harness equipment for the Battle of Beersheba and other major World War One military campaigns. 
“There is still a commemorative plaque on the building façade acknowledging the contribution the building made to the Australian Military Forces from 1912-23. 
“During 1930s the building became the Bourke &amp; Cooke boot factory, before Zig Zag Paper took over manufacturing their legendary roll-your-own cigarette papers here.”
<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/2019/8/14/GJ%2024%20GROOM%20STREET%20STRIPPED%20OUT.jpg" alt="">
In 1973, it was acquired by National Can Industries to manufacture many of Australia’s famous tin can packaging here.
National Can on the closure of manufacturing here continued to occupy the building as their corporate office until recently. 
“It holds a Mixed Use zoning with city views able to be accessed from the property’s location that is just off Hoddle Street and the access to the Eastern Freeway,” Simpson said. 
“The property has two street frontages of 16 metres to Groom Street and a side frontage to Yarrabing Lane of another 25 metres. 
“Now exposed by the strip out works are the historic building features including exposed timber beams, ceilings and floors, brickwork, with a goods lift remaining in place.”
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Historic Clifton Hill commercial building listed for $4.9 million

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Risks to the outlook: RBA deputy governor Guy Debelle

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GUEST OBSERVATION
Australia has made a global commitment to “sustainable agriculture”, an endeavour seen as increasingly crucial to ending world poverty, halting biodiversity loss, and combating climate change.
A recent report from the UN found land use – including food production – is responsible for around <a href="https://theconversation.com/un-climate-change-report-land-clearing-and-farming-contribute-a-third-of-the-worlds-greenhouse-gases-121551" target="_blank">one-third of the world’s greenhouse gas emissions</a>.
Unfortunately, Australia has something of a sustainable agriculture policy vacuum, after years of a fragmented, stop-start approach.
To honour our international obligations and respond to growing sustainability markets, Australia urgently needs a contemporary definition of sustainable agriculture, including agreed on-farm metrics.
Good policy abandoned
Australia spent more than a decade developing promising policies that defined sustainable agriculture with broad indicators for measuring progress.
In 1997 Australia passed <a href="http://www.austlii.edu.au/cgi-bin/viewdb/au/legis/cth/consol_act/nhtoaa1997371/" target="_blank">federal legislation</a> defining “sustainable agriculture” as:
"Agricultural practices and systems that maintain or improve […] the economic viability of agricultural production; the social viability and well-being of rural communities; […] biodiversity; the natural resource base [and] ecosystems that are influenced by agricultural activities."
The following year, the Standing Committee on Agriculture and Resource Management published a <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/work/8552310?selectedversion=NBD44018881" target="_blank">broad set indicators</a>.
During the early 2000s a <a href="https://www.propertyobserver.com.au/https://catalogue.nla.gov.au/Record/3572009" target="_blank">national framework</a> of Environmental Management Systems was developed, and <a href="https://www.propertyobserver.com.au/https://catalogue.nla.gov.au/Record/5717700" target="_blank">national pilots</a> were conducted across Australia up until 2006.
Between <a href="http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4624.0Main+Features12004-05?OpenDocument" target="_blank">2004</a> and <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/4620.0" target="_blank">2006</a> the Australian Bureau of Statistics recorded farmers’ investment in natural resource management. However these surveys have not been replicated in more than a decade.
In 2005, the states and territories formed a joint working group to create a national approach to property management systems. This group met with industry representatives and regional land managers throughout 2006, and in 2007 the Department of Agriculture, Fisheries and Forestry planned a pathway for a national policy. There was much hope and enthusiasm it would soon become a reality.
However, since 2008 there has been no progress and little, if any, explanation for why this important sustainable agriculture policy initiative was shelved.
Current policy vacuum
It is concerning that Australia’s first progress report on implementing the <a href="https://dfat.gov.au/aid/topics/development-issues/2030-agenda/Documents/sdg-voluntary-national-review.pdf" target="_blank">sustainable development goals</a> contains the words “sustainable agriculture” only once in 130 pages, as part of the heading for the goal of ending hunger.
The definition arrived at in 1997 is far too broad and simplistic, and can’t be used at the farm level.
When contacted for comment, a spokesperson for the Department of Agriculture reiterated their commitment to improving sustainable food production, and said:
"Australia is involved in global discussions about how best to measure sustainable agriculture performance […] However a globally agreed methodology has not been set for [agricultural sustainability]."
Australia’s only substantial sustainable agriculture policy mechanism at the moment appears to be grants available through the <a href="http://www.nrm.gov.au/" target="_blank">National Landcare Program</a>. This is reiterated by searching through key Coalition <a href="https://www.liberal.org.au/our-plan" target="_blank">policy documents</a> and the recent budget.
The budget allocation to the overall National Landcare Program is around A$1 billion from 2017 to 2023. New programs announced in the 2019 budget that build on this commitment include:
<ul>
<li>A$100 million over four years for the <a href="https://www.environment.gov.au/environment-restoration-fund" target="_blank">environment restoration fund</a>,</li>
<li>A$34 million over four years for a new biodiversity stewardship program,</li>
<li>A$28.3 million for a new communities environment program for 2019-20, and</li>
<li>A$2 billion over 15 years for the <a href="https://www.environment.gov.au/climate-change/government/climate-solutions-fund" target="_blank">climate solutions fund</a>.</li>
</ul>
These programs combined equate to some A$354 million per year. But a coherent sustainable agriculture policy cannot be delivered through grants alone.
And even though these grants are substantial, past ABS surveys found that farmers invest at least A$3 billion a year in natural resource management. The Indigenous on-country contribution is currently unknown, but likely to be substantial.
Caring for country fund
Around 10% of Australia’s population lives in rural or remote areas. These comparatively small communities – largely farmers and Indigenous land managers – currently steward most of the country.
A review released in late July on how <a href="https://www.environment.gov.au/epbc/information-for/farmers/agriculture-review" target="_blank">conservation laws affect the agriculture sector</a> has recommended the federal government create a A$1 billion fund for farmers who deliver environment benefits from their land.
This mirrors calls from farmers for an <a href="https://mk0australianfa1qtvu.kinstacdn.com/wp-content/uploads/2019/04/NFF_2019-Federal-Election-Platform_2_Growing-Sustainably.pdf" target="_blank">ecosystem services fund</a>.
If our <a href="https://www.ato.gov.au/Media-centre/Media-releases/2016-17-Tax-Stats-released/" target="_blank">13.9 million</a> taxpayers contributed some A$60 each per year in a “caring for country” levy, urban and rural Australians could more fairly share the costs – as well as the advantages – of sustainable land management.
We could start with revisiting the good work undertaken more than a decade ago in developing a national framework for property management systems.
Underpinning such a system, we need an independent and trusted source of metrics for farmers, land managers and agricultural industries. To this end, the University of New England is <a href="/news">establishing a research hub</a> to help develop just such a harmonised approach.
There are many good news stories of sustainable agriculture around Australia, however our ongoing biodiversity crisis requires transformative policy change and federal leadership.
One bold first step would be addressing the current paradox of sustainable agriculture in Australia.

<img src="https://counter.theconversation.com/content/120597/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">

Jacqueline Williams, Senior Research Fellow &amp; Lecturer, School of Environmental and Rural Science, University of New England.
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/australia-urgently-needs-real-sustainable-agriculture-policy-120597" target="_blank">original article</a>.
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Australia urgently needs real sustainable agriculture policy

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GUEST OBSERVATION 
Last week’s hearings at the aged care royal commission in Brisbane looked at regulation in aged care. While rules and regulations are designed to safeguard residents, bureaucratic “red tape” also contributes to the failings in aged care.
The fear among nursing home staff of failing a review visit by an Aged Care Quality and Safety Commission surveyor has been known to shift the focus from care for residents to meeting paper trail requirements.
The best outcome for aged care residents and their families would be new reporting requirements <a href="https://www.researchgate.net/publication/335110268_The_Distinction_between_Process_and_Outcomes_Focused_Governance_and_Accountability_Frameworks" target="_blank">centred on outcomes rather than processes</a>. Their primary focus should be on the mediation of critical incidents – that is, looking at what caused them and how they could be prevented in future – and the maintenance of health.
How did we get here?
The crisis in the aged care sector has emerged over time. At least in part, systemic problems in organisations <a href="https://onlinelibrary.wiley.com/doi/abs/10.1002/%28SICI%291099-1735%28199603%2913%3A1%3C13%3A%3AAID-SRES66%3E3.0.CO%3B2-O" target="_blank">arise from interactions</a> among its key players. These interactions must be aligned to achieve its <a href="https://pdfs.semanticscholar.org/e33a/5f696b7af6c2eaa3fdbefe94dbf42234bebe.pdf" target="_blank">common goals</a>.
But the key players in the aged care system pursue divergent agendas. Regulators focus on process adherence, while staff struggle with their limited capacity to manage the complex needs of residents. Meanwhile, proprietors focus on economic viability.
The prevailing approach of dealing with the problem of a particular key player in isolation will not solve the problems of aged care as a whole.
Governance and accountability
Our research suggests the need for a major culture shift in the aged care system.
Around the world, governments are being urged to put less emphasis on <a href="http://johnbraithwaite.com/wp-content/uploads/2016/06/Regulating-Aged-Care-Ritualis.pdf" target="_blank">process measurement</a> and more on <a href="http://www.iqg.com.br/uploads/biblioteca/the_strategy.pdf" target="_blank">outcome transparency</a>.
Peter Drucker, a well-known management consultant, educator and author, once said “management is doing things right; leadership is doing the right things”.
Ticking the boxes of a protocol to demonstrate “regulatory compliance” – that is, doing things right – is no longer an option on its own. Residents and their families expect staff to be attentive to residents’ changing <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/19674233" target="_blank">physical, emotional, social and cognitive needs</a>; that is, doing the right things.
These insights tell us the aged care system needs to be <a href="https://www.propertyobserver.com.au/https://www.springer.com/gp/book/9783319646046" target="_blank">redesigned</a>.
What would this look like in practice?
Let’s consider two common aged care problems – falls and diabetes – whose management is significantly influenced by the chosen accountability framework. The differences between an outcomes-based approach (that is, adapting care to problems in their context) and a process-based approach (adhering to a protocol) are stark.
The first example: a resident has a fall. Rather than only assessing her for injuries and vital signs (as per protocol), staff would also assess potential reasons for the fall – for example, lack of mobility, pain, low blood pressure, or polypharmacy (taking multiple prescription medications at once) – and involve allied health professionals in preventive and rehabilitative care. This could include muscle strengthening exercises, gait and balance retraining, pain management and medication review. These are measures that could reduce the likelihood of the patient falling again, thereby improving her outcomes.
And let’s take a resident with normally stable diabetes, who one day records an elevated blood sugar reading. Rather than just giving him more insulin, staff would also assess potential underlying reasons for the elevated reading. These could include loss of appetite, an infection, or an episode of <a href="https://www.mayoclinic.org/diseases-conditions/delirium/symptoms-causes/syc-20371386" target="_blank">delirium</a>.
The royal commission should do many things, but adding red tape isn’t one of them
Increasing frailty and/or significant memory decline are the main reasons for admission to an aged care facility. These people are particularly vulnerable as their health changes frequently and rapidly.
Being bogged down by <a href="http://johnbraithwaite.com/wp-content/uploads/2016/06/Regulating-Aged-Care-Ritualis.pdf" target="_blank">regulatory ritualism</a> reduces the time staff have available to spend on residents’ physical, social, emotional and cognitive needs.
True accountability in aged care is achieved by demonstrating how the provided care has impacted a resident’s well-being. In that regard, the Aged Care Quality and Safety Commission should provide leadership and primarily act as an educator, helping facilities to become <a href="https://www.penguinrandomhouse.com/books/163984/the-fifth-discipline-by-peter-m-senge/9780385517256/" target="_blank">learning organisations</a>. If an aged care facility fails to “learn and improve”, then sanctions and penalties become necessary.
More bureaucracy would only serve to perpetuate the current crisis, and would fail those residents and families who have suffered from <a href="https://agedcare.royalcommission.gov.au" target="_blank">the current failings in the sector</a>.
Len Gainsford, a former adjunct research fellow in accounting &amp; governance at Swinburne University of Technology, contributed to this article.

<img src="https://counter.theconversation.com/content/121561/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">

Joachim Sturmberg, Conjoint Associate Professor of General Practice, University of Newcastle.
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/red-tape-in-aged-care-shouldnt-force-staff-to-prioritise-ticking-boxes-over-residents-outcomes-121561" target="_blank">original article</a>.
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Red tape in aged care shouldn’t force staff to prioritise ticking boxes over residents’ outcomes

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GUEST OBSERVATION
Recycling in Australia used to be fairly simple. Our older readers may remember bottle drives, paper and cardboard collections, and the trip to the scrap metal merchant to sell metals.
This is called, in recycling parlance, sorting the “streams”. It creates very clean recycling that requires little sorting at a plant.
But recycling got more complicated. As councils organised kerbside collection, it made less economic sense to sort at the kerb. Instead, trucks collected mixed recycling and took it to centralised sorting facilities.
The materials also changed, with glass often replaced by plastics. Plastics like the PET in drink bottles and HDPE in milk bottles were easy to separate and had a ready recycling market.
Then, when developing countries like China opened the floodgates to paper and plastics, there was no need to separate the seven categories of plastics. It was cheaper and easier for Australian companies to bundle it all up and send it to China for “recycling” – in 2017, some <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2017-12-10/china-ban-on-foreign-rubbish-leaves-recycling-industry-in-a-mess/9243184" target="_blank">600,000 tonnes</a>.
When China found they were the world’s dumping ground they <a href="https://theconversation.com/heres-what-happens-to-our-plastic-recycling-when-it-goes-offshore-110356" target="_blank">shut the door</a> and demanded only clean, separated plastics – and then only the ones that had a secondary market in China.
Suddenly Australia was expected to separate more carefully – and this cost money. Now the federal government has pledged <a href="https://www.businessinsider.com.au/australias-recycling-industry-is-getting-a-20-million-boost-but-at-least-one-environmental-group-says-the-government-is-all-talk-2019-8" target="_blank">A$20 million to boost Australia’s recycling industry</a>.
But what is Australia’s recycling industry?
Right now, there are 193 material recovery facilities in Australia. Most are hand-sorted; nine are semi-automated, and nine are fully automated. These are <a href="https://theconversation.com/the-recycling-crisis-in-australia-easy-solutions-to-a-hard-problem-95231" target="_blank">nowhere near sufficient</a> to sort Australia’s annual recycling.
There are two basic ways to sort recycling: mechanical-biological treatment plants, which sort mixed waste into low-grade recycling, and material recovery facilities, which have a stronger focus on extracting reusable stuff.
Here’s how they work.
Mechanical-biological treatment
MBT plants are in various stages of development in Perth, Melbourne, and Sydney. These plants take the rubbish we generate every day and inject it into a rotary drum (a bioreactor) that spins and is heated to 60–70℃.
The process shreds the waste and the organic wastes are stabilised and homogenised. Most of the water evaporates through a fermentation process in which microorganisms break down the organic material and release heat – much like a composting system.
The material then leaves the reactor and passes over a screen that separates the organic waste. The organic waste then fermented and composted, then separated again using a smaller mesh screen. The smallest particles are sent back to the bioreactor drum to provide the microorganisms.
Meanwhile, the larger material from the first screening is sent to a wind separator where the lightweight material, like plastics, are blown the furthest, medium-weight materials, such as textiles, fall in the middle and the heaviest, like metal, glass and stone, fall immediately. The heaviest fraction is sent along a conveyor and metals are separated by a magnetic separator.
The remaining material is sent to another wind separator, along with any remaining material from the other fractions that cannot be separated, which separates combustibles and debris.
The debris (about 10% of the original waste) goes to landfill, and combustibles are sent to a facility that compresses the material into blocks for industrial fuel.
Material recovery facilities
Material recovery facilities accept mixed recycling. The first step is putting recyclables on a conveyor belt where they are carried up to a sorting line.
In the more mechanical processes, people line up along the belt and rip open bags and remove contaminants such as non-recyclable plastic, used nappies and other rubbish, which then goes to landfill.
In the more automated systems, ripping open the bags can be done by machines and the sorting is done in the next stage.
The material then goes onto a scalping screen that sorts out the small foreign objects before passing over a screen in which flat materials such as cardboard pass over and the others drop down. The paper and cardboard go off to storage. Meanwhile, the material that has dropped through hits another screen that breaks any glass, which drops through the screen and is taken by conveyor belt to a recovery bin.
The leftover material goes to fibre quality-control stations where the fibre materials (such as paper) pass by operators who pick off any contaminants before the paper goes into another bin for baling and recycling.
This leaves the cans and plastic containers. Passing this stream over a magnet means any steel cans will be removed from the stream and collected.
Next, any fibre that has made it through the process is removed manually and the plastics are then sorted manually into individual types. The bottles are perforated mechanically so they do not explode when compressed.
With the plastic containers removed, the next step is to divert the aluminium. Powerful magnetic fields created by an eddy current separator throws non-iron metals, like aluminium, forward from the belt into a product bin and non-metals fall off the belt into a separate bin. Finally most of the materials are compressed and baled for efficient transport.
Automated sorting systems
The nine more modern facilities in Australia use optical sorting systems to take out the manual and mechanical sorting. The optical sorters detect anywhere between three and eight varieties of material.
A new facility in New South Wales can detect eight different types of material: aluminium, cardboard, glass, <a href="http://www.pbpackaging.com.au/artGlossary.aspx" target="_blank">HDPE plastic</a>, mixed paper, newspaper, <a href="http://www.pbpackaging.com.au/artGlossary.aspx" target="_blank">PET plastic</a>, and steel. The combined stream passes through a light beam which then instructs a set of high pressure air jets to direct the material to one of eight collection bins.
As worldwide demand for high quality, clean recycling material increases, Australia must upgrade its technology. Incentives and financial help for recycling companies may be necessary to see Australia develop a viable domestic recycling industry.

<img src="https://counter.theconversation.com/content/121120/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">

Jeff Seadon, Senior Lecturer, Auckland University of Technology.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-recycling-is-actually-sorted-and-why-australia-is-quite-bad-at-it-121120" target="_blank">original article</a>.
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How recycling is actually sorted, and why Australia is quite bad at it

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Brooklyn, the 1880s built heritage-listed Fitzroy property currently operating as a four star hotel, has hit the market for the first time in a decade. 
It is currently owned by filmmaker and designer Maggie Fooke who runs The Brooklyn Arts Hotel, a convivial European-style four star hotel.
<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/2019/8/30/fitzroy%201%201.jpg" alt="">
Fooke paid $1.5 million for the landmark property in 2006.
The George Street building was constructed in 1865 and later extended in Ecclesiastical Gothic style with a double loggia façade by the New York entrepreneur and shoe importer Joseph Levy.
<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/2019/8/30/fitzroy%202%201.jpg" alt="">
The seven bedroom property with 14 principle rooms has also previously been ran as a boarding house.
Nelson Alexander agents Arch Staver and David Sanguinedo, who have a $4.2 million to $4.5 million guide for its September 14 auction, suggest it is suitable for conversion into a luxury family home.
<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/2019/8/30/fitzroy%203%201.jpg" alt="">
This article was first published in the Weekend Australian. 
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1880's heritage-listed Brooklyn Arts Hotel in Fitzroy hits the market

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EXPERT OBSERVATION
The most recent consumer sentiment result comes as somewhat of a surprise given that the survey was conducted against a turbulent backdrop with global financial markets roiled by escalating trade tensions between the US and China, the ASX down 3.4% and the AUD off 3c US since the July survey.
However, the result does come in the aftermath of an unexpected 4.7% fall in the Index in June/July that came despite consecutive rate cuts from the RBA and the restoration of political certainty following the May Federal election.
At the time, particularly following the July fall of 4%, we speculated that households may have been unnerved by the unusual sequence of consecutive rate reductions, implying that there might be some alarming drop in confidence in official circles around the economic outlook.
Realising that lower rates are in the offing but that there is no need for further consecutive changes might be a more encouraging signal for households than a rapid sequence of rate cuts.
Indeed part of the gain is consistent with firming expectations for additional interest rate cuts. The RBA left rates on hold at its August meeting, pausing after the two cuts in June and July but retained a clear easing bias.
The media and economic forecasters now expect a further lowering in the official cash rate in coming months.
This is influencing consumer views. Responses to an additional question on expectations for mortgage interest rates, run every six months, show just 31% expect rates to be higher in a year’s time compared to 43% when the question was last run in February and 50% this time a year ago.
This is the most dovish mix of responses seen since mid-2012 when the RBA was moving through a significant policy easing cycle.
This less alarmist but nevertheless confident view on interest rates appears to have calmed expectations for the economic outlook.
The sub-index tracking expectations for the ‘economy, next 12 months’ rallied 9.6% in August, reversing most of last month’s 12.3% slump but still down 8.3% since May.
Longer term expectations for the economy also recovered, the ‘economy, next 5 years’ sub-index rising 4.5% after recording a 6.7% fall last month.
<a href="https://www.propertyobserver.com.au/images/2019/8/14/consumer%20sentiment%20.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/14/consumer%20sentiment%20.jpg" alt="">
Views around family finances have shown a more muted improvement. The sub-index tracking consumers’ expectations for ‘finances, next 12 months’ rose 0.7% but remained in slightly pessimistic territory.
The ‘finances vs a year ago’ sub-index lifted 0.9% to a five month high, although at 86.5, the sub-index remains at weak levels overall.
The muted gains are despite further signs of improvement in Australia’s housing market and the “Federal government’s tax relief which may be starting to see cash flow to some households.
Spending attitudes showed a firmer gain, the ‘time to buy a major household item’ sub-index is up 2.8% in August to the highest level in over a year.
A major influence on the near term economic outlook is going to be the mix between spending and saving as households receive their increased tax rebates. With sentiment flat and households remaining risk averse we expect consumers to favour saving over spending so this lift in ‘time to buy’ is an encouraging sign for retailers.
Consumers’ job loss fears eased slightly in August. The Westpac-Melbourne Institute Unemployment Expectations Index improved slightly recording a 0.8% decline to 133.3 (recall that lower readings indicate that more consumers expect unemployment to fall in the year ahead).
While the Index is around its long run average level, it has risen 10.3% since May, a significant deterioration from what were consistently better than average readings seen over the six months to February.
Housing-related sentiment continues to show a clear positive response to lower interest rates with assessments of both ‘time to buy’ and house price expectations recording further gains in August.
The ‘time to buy a dwelling’ index rose 3.0% to 126.9, comfortably above the long run average of 120 and the highest level since early 2014.
Sydney and Melbourne continue to lead the turnaround although buyer sentiment posted particularly strong gains in WA and SA this month.
Buyer sentiment has been notably softer in Queensland, the state index down 6.4% this month and down 11.6% on a year ago.
The Westpac-Melbourne Institute Index of House Price Expectations Index posted a solid 5.1% increase. At 125.4, the Index is up 40% since May and back on a par with levels in mid-2018, although still 18% below its previous peak in March 2017. All major states recorded a lift in price expectations this month.
The Reserve Bank Board next meets on September 3. Westpac expects that the Board will decide to keep rates on hold in September before cutting rates by another 25bps at the October meeting with a final 25bp move taking the cash rate to 0.5% in February.
Signals from the RBA are quite clear. In its recent Statement on Monetary Policy the RBA lowered its forecasts for inflation, wages and growth, while lifting its forecasts for the unemployment rate. Those forecasts were despite basing them on the technical assumption of adopting market pricing, which anticipates two more rate cuts.
Accordingly we feel reasonably comfortable that the RBA Board will be cutting rates at least twice more in this cycle.
<a href="https://www.propertyobserver.com.au/images/2019/8/14/consumer%20sentiment%20aug%20.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/14/consumer%20sentiment%20aug%20.jpg" alt="">
BILL EVANS is Chief Economist for Westpac.
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August house price and consumer sentiment bounce back: Bill Evans 

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The Ray White Randwick office premises just off Randwick high street have been listed for sale through Savills.
The premises had initially been listed by the Ray White office, however the ground floor space at <a href="https://www.realcommercial.com.au/property-retail-nsw-randwick-503291458" target="_blank">126-128 Avoca Street</a> failed to sell when asking $1.5 million.
Savills agents Tom and Nick Tuxworth, as well as David Hickey, are now marketing the property for a September 12 auction.
Ray White Randwick have a lease in the 145 sqm office space until December 2021 which yields $94,000 per annum gross.
Holding a prominent corner location on Avoca and Alison Road, the floor area is spread across three separate titles which provides future subdivision potential.
It has an 18 metre corner frontage with exposure to high levels of vehicular and pedestrian traffic.
 
 
 
 
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Savills list Ray White Randwick office

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A development site at Lot 206 Rifle Range Road, in the coastal Bundaberg suburb of Bargara, is set to be auctioned in September.
The 59300 square metre site is 3.8 kilometres from Kelly’s Beach, and 5 kilometres from the suburb’s commercial precinct.
<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/2019/8/9/Bargara02%20eBrochure.jpg" alt="">
The block of land is designated as ‘Low Density Residential’ by the local council.
Ray White Special Projects Queensland agents Mark Creevey and Tony Williams are marketing the property.
Creevey said the location would appeal to developers.
It is speculated the adjacent Palm Lakes Bargara lifestyle resort intends could acquire the block.
Creevey expects an array of interested investors.
“'Low Density Residential' allows for other residential activities including dual occupancy dwelling, manufactured home estate (MHE), residential aged care facility and retirement facility (subject to council approval),” Creevey advised. 
<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/2019/8/9/RayWhite%20Realestate%202%201.jpg" alt="">
Bargara has expanded significantly in recent years, with substantial infrastructure investments in the area making it popular with tourists and retirees.
There are future projects such as the planned $3.8 million Hughes Road extension, and $5.68 million Bundaberg airport expansion.
The auction will take place on September 6.
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