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

Joel Robinson

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

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

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

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

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

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

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

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

ALTA Property to deliver $200 million Queens Road apartment tower

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

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

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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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firstname1-iYD4UYzvBa

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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bevans-rYk9SxEa4r

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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