<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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There have been no major shifts in Australia's industrial property markets in the past month, according to valuation firm Herron Todd White's latest industrial property clock.
Four of the eight capital cities hold a positive position in their industrial property market.
Melbourne is the strongest as it holds the peak of market position, it is joined by Coffs Harbour.
Meanwhile, industrial space in Sydney and the Sunshine Coast is approaching peak of market.
Brisbane and Hobart are classed as rising markets.
Click <a href="https://www.propertyobserver.com.au/images/2019/7/22/HTW%20INDUSTRIAL%20PROPERTY%20CLOCK%20JULY.png" target="_blank">here</a> to enlarge.
<a href="https://www.propertyobserver.com.au/images/2019/7/22/HTW%20INDUSTRIAL%20PROPERTY%20CLOCK%20JULY.png" target="_blank"><img src="https://www.urban.com.au/images/2019/7/22/HTW%20INDUSTRIAL%20PROPERTY%20CLOCK%20JULY.png" alt=""></a>
Adelaide, Perth, Canberra and Darwin were not given a position on the HTW Industrial Property Clock this month.
Cairns, Gladstone, Ipswich, Rockhampton, Toowoomba and Townsville all remain at the bottom of the market.
The central Coast and Newcastle industrial property markets are both still in the starting to decline position, according to HTW.
Other areas that are approaching the peak of market include Lismore, the Southern Highlands and the Souther Tablelands.
Echuca, Illawarra, Mildura and Geelong are classified as rising markets while Horsham and Mackay are still in the start of a recovery.
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j.ballantyne1990-6AQqhLzZaK

No movement across Australia's industrial market in June: HTW Industrial Clock

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Australia has no enduring tradition of having a national urban policy, unlike the UK, from where we sometimes import policies. The Commonwealth government has a long history of intervening in cities, from addressing housing shortages to funding urban infrastructure, but has shied away from a formal national settlement strategy.
Sometimes the Commonwealth claims to have no constitutional case for involvement in city planning. Yet we’re comfortable with spatial planning at the local, metropolitan and regional scale, so planning at the national level makes sense too.
We also seem comfortable with the federal government doing investment deals with individual cities and regions – so-called <a href="https://www.infrastructure.gov.au/cities/city-deals/index.aspx" target="_blank">City Deals</a>. Why not use this fiscal clout to drive a more systematic program of reform? Reform priorities include how our metropolitan areas are governed and how they finance much-needed investment in infrastructure.
To date, <a href="https://citydeals.infrastructure.gov.au/" target="_blank">nine City Deals</a> have been announced. These cover <a href="https://citydeals.infrastructure.gov.au/townsville" target="_blank">Townsville</a>, <a href="https://citydeals.infrastructure.gov.au/launceston" target="_blank">Launceston</a>, <a href="https://citydeals.infrastructure.gov.au/western-sydney" target="_blank">Western Sydney</a>, <a href="https://citydeals.infrastructure.gov.au/darwin" target="_blank">Darwin</a>, <a href="https://citydeals.infrastructure.gov.au/hobart" target="_blank">Hobart</a>, <a href="https://citydeals.infrastructure.gov.au/geelong" target="_blank">Geelong</a>, <a href="https://citydeals.infrastructure.gov.au/adelaide" target="_blank">Adelaide</a>, <a href="https://citydeals.infrastructure.gov.au/perth" target="_blank">Perth</a> and <a href="https://citydeals.infrastructure.gov.au/south-east-queensland" target="_blank">Southeast Queensland</a>. Could this seemingly ad hoc collection of City Deals become part of a more coherent and effective national settlement strategy? And are we up to the enduring challenge of translating these plans and strategies into action?
<h2>Are we alone in this?</h2>
In the UK, urban policy was for many years based on the principle of “<a href="https://discovery.nationalarchives.gov.uk/details/r/C11251433" target="_blank">bending main programs</a>” to focus on areas judged most in need of government assistance. This was sometimes used to justify having little or no new money allocated to urban policy initiatives. However, it also reflected the reality that the main spending programs of national government are often altogether bigger with much more fiscal clout on the ground.
We also need to recognise that there is more to growth and development than investing in hard infrastructure like roads and railways. Schools, hospitals, parks and cultural facilities play a vital role in creating liveable communities at any spatial scale.
When these facilities lag behind the rapid construction of homes, our towns and cities are poorer places to live in. Nor are they places of resilience where we are better able to cope with the environmental changes and technological disruptions of the 21st century.
<h2>Why a national strategy?</h2>
The UN Sustainable Development Goals, and in particular <a href="https://sustainabledevelopment.un.org/sdg11" target="_blank">SDG 11</a>, recognise that having a national urban policy is an important foundation for achieving sustainable urban development. But in Australia we have not established long-term federal funding agreements for the sustainable development of major cities. Nor are there incentives to reform how we govern and deliver public services and infrastructure at the metropolitan scale.
A strategy of establishing metropolitan governance and financial reforms would assist Australian cities to compete and be successful in a 21st-century, globally connected world. At the same time, it would still enable decisions to be based on local preferences and capabilities. This reform could be the central feature of a national approach to partnership with cities.
This national cities partnership could provide a much better framework in which individual City Deals become more effective. An agreement could include national performance outcomes and help drive reforms to metropolitan governance and financing. It could also provide a platform for a national settlement strategy that finally gets to grips with where our growing population might live and live well.
By focusing on the metropolitan scale, we will also be better placed to answer difficult questions like “who should serve as Australia’s metropolitan leaders?” and “who represents metropolitan communities and works with them to make hard decisions about their future?”.
Currently, we have States and their agencies working at the metropolitan level. We have local governments that, understandably, focus on their local issues. Only occasionally do local councils build cooperative structures at a regional or metropolitan scale. Local government amalgamation is not a solution to this issue, as there remains an important role for local as well as metropolitan-scale institutions.
<h2>What would a national cities partnership look like?</h2>
Australia has five metropolitan areas with populations over 1 million people. When regional cities with populations over 100,000 are also considered, there are 17 major cities and metropolitan areas that could join in developing a national cities partnership agreement.
The core principles for this partnership could be:
<ul>
<li>
collaboration between different levels of government at scales that make economic sense and are socially meaningful – e.g. metropolitan regions for big cities, and perhaps major regional cities and their hinterlands in rural and regional areas
</li>
<li>
reforms to allow for the emergence of city and metropolitan leaders, who can talk on behalf of major urban communities and work with stakeholders such as business and non-government actors
</li>
<li>
working hard to engage the public as well as peak bodies in thinking about the future of their region
</li>
<li>
translating plans into action, through ongoing community support and concerted and coherent Commonwealth investment programs.
</li>
</ul>
<h2>Commonwealth needs to take the lead</h2>
Disengagement at this time by the Commonwealth government would be disastrous, so we wish Minister Alan Tudge well in keeping cities on the government’s policy agenda.
A business-as-usual approach to federal intervention may not make things worse, but it won’t set up the reforms Australian cities need to thrive and grow sustainably.
A strategy to establish a national-city partnership agreement offers a way forward. It would provide a framework to make City Deals more effective. The partnership could enable the emergence of a new breed of metropolitan and city leaders to help elevate public dialogue about the future of our cities and drive financial reforms that would allow them to deliver and be responsible to their communities.
All of this should appeal to those in government who want to see policy evolve and develop and our cities grow into more prosperous, liveable and resilient places.
This article draws on separate presentations made by the authors at the 2019 <a href="https://piacongress19.com.au/" target="_blank">National Congress of the Planning Institute of Australia</a>.<img src="https://counter.theconversation.com/content/117839/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/paul-burton-5155" target="_blank">Paul Burton</a>, Professor of Urban Management and Planning &amp; Director, Cities Research Institute, <a href="http://theconversation.com/institutions/griffith-university-828" target="_blank">Griffith University</a> and <a href="https://theconversation.com/profiles/luke-nicholls-756766" target="_blank">Luke Nicholls</a>, Associate, Institute for Public Policy and Governance, <a href="http://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/a-patchwork-of-city-deals-or-a-national-settlement-strategy-whats-best-for-our-growing-cities-117839" target="_blank">original article</a>.
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A patchwork of City Deals or a national settlement strategy: what’s best for our growing cities? Paul Burton & Luke Nicholls 

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The Swan Hill Mayor Les McPhee has officially opened a new solar farm just outside Swan Hill.
The 19MW solar farm funded and owned by Impact Investment Group's (IIG) second solar fund is expected to provide clean electricity for the equivalent of approximately 6,050 Australian homes, and have a 30-year life span. 
The project was estimated to have cost $36 million in total.
Impact Investment Group's Head of Renewable Energy Infrastructure said: "We're extremely proud of the Swan Hill solar farm, its contribution to the local economy, and Australia's clean energy system, this solar farm will save approximately 155 million litres of water each year.
"As Australia moves away from its old, polluting coal fired power plants, it will need new electricity generators and that transition could mean dozens of projects like this one; we'd love to see a new boom of solar jobs, not just in Victoria, but across the country."
Swan Hill Rural City Council Mayor Les McPhee said this was an important renewable power generation facility for the region.
Victorian Renewable Energy Advocate, Simon Corbell said: "Swan Hill solar farm is directly contributing to the growth of large scale renewable energy in Victoria and will contribute to towards achieving the Victorian Renewable Energy Target of 40% renewable energy by 2025.
"With the Australian Energy Market Operator having confirmed on Tuesday that Victoria is capturing the largest share of renewable energy growth of any jurisdiction, at 38%, we can expect many more projects like Swan Hill solar farm into the future."
IIG have stated: "This is an opportunity for wholesale investors to co-invest with IIG in an unlisted portfolio of up to $180m in Australian solar infrastructure assets, with exposure to the electricity spot market."
The folio was opened in June 2018, and attracted $55 million in its first round of investor commitments.
It remains open for second-round investors.
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IIG opens new Swan Hill solar farm

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An opportunity has arisen to lease office space in the Surry Hills commercial block designed by the late Harry Seidler.
It's been called home by the Australia Council for the Arts since it was completed by Seidler in 1999.
They're exiting the 4,435 square metre space which is available at the end of September. 
Seidler designed the building in 1996 and his development firm spent three years creating the six storey building that was modelled on his own offices in Milsons Point.
Those offices won the prestigious Sir John Sulman Medal.
Each floor of the Elizabeth Street block features column free space and is encased by frameless floor to ceiling glass windows.
There are large north facing terraces on levels three and six and west facing terraces on levels three and five.
The Seidler family still own the building.
Knight Frank's Nick Lau is marketing the commercial space.
There's likely to be more rental opportunities given the demise in Australia of low-commission real estate agency Purplebricks who occupy space on level one.
 
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Space opens in Harry Seidler designed office block in Surry Hills 

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EXPERT OBSERVER
A combination of housing values trending lower and sluggish rental conditions, CoreLogic research out today looks at the total investment return trends across Australia’s capital cities and broad regional markets.
Over the 2018-19 financial year, total returns from residential property recorded a fall of -3.3%.
Returns were down from the previous year and it was the only financial year since at least 2005/06 that total residential property returns were negative.
To put that in context, housing returns last year were worse than those recorded during the financial crisis and during the 2010- 12 housing downturn.
The combination of falling values and historically low rental yields have driven total returns into negative territory.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%201.JPG" alt="">
Looking at the national figures in the context of the combined capital cities and combined regional markets shows that returns have reduced over the year across both regions.
However, combined capital city returns have fallen -4.5% while combined regional market returns remained mildly positive at 1.6%.
For the combined capital cities it was the weakest returns on record and the first negative annual return, while across the combined regional markets it was the weakest annual return since 2008-09.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%202.JPG" alt="">
Across NSW, total returns fell over the 2018-19 financial year in both Sydney and regional NSW.
For Sydney, it was the second consecutive financial year in which returns have fallen however, it was a larger -6.7% fall compared to the previous year and the largest fall of any time since 2005-06.
In regional NSW total returns were - 0.5% lower over the past financial year and it was the first time over the period that total returns recorded a decline.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%203.JPG" alt="">
In Vic total returns were lower over the most recent financial year in both Melbourne (-6.0%) and regional Vic (4.5%).
For Melbourne it was the first financial year in which returns were negative since 2011-12 and it was the largest fall in total returns on record.
Although regional Vic total returns remained positive, the market experienced a substantial slowing from the previous year.
Furthermore, it was the slowest growth in total returns for regional Vic since 2011-12 when they increased by 3.5%.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%204.JPG" alt="">
Although total returns throughout the 2018-19 financial year remained positive in Brisbane and regional, Qld there was a substantial reduction in returns across both regions.
Over the year, total returns in Brisbane were recorded at 1.7% the lowest they have been since the 2011-12 financial year and it was the same story in regional Qld with the 3.2% return the lowest since 2011- 12.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%205.JPG" alt="">
Although returns from residential property remained positive over the 2018-19 financial year in SA, both Adelaide and regional SA recorded a slowing of total returns.
Over the year, Adelaide’s total return was 4.1%, which was the smallest return since 2011-12, and down from 6.1% the previous year.
In regional SA, returns slipped from 5.2% the previous year to 4.0%, which was the smallest returns since 2011-12.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%206.JPG" alt="">
Total returns were negative in 2018-19 across WA with both Perth and regional WA recording their largest annual falls in returns on record.
Over the year, total returns in Perth recorded a fall of -5.3% and although returns have fallen over three previous financial years, it was the largest decline on record.
In regional WA, returns declined -5.0%, which was also a larger fall than over any of the three previous financial years in which returns were negative.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%207.JPG" alt="">
Both Hobart and regional Tas maintained positive total returns over the 2018-19 financial year however, it was a significant reduction of returns in Hobart.
Hobart’s return was recorded at 8.1% over the year, down from 17.4% the previous year and its smallest annual return since 2014-15.
In regional TAS the total returns was 11.4%, which was slightly lower than the 13.2% the previous financial year however, returns remained higher than the 10.2% over the 2016-17 financial year.
 <img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%208.JPG" alt="">
Total returns from residential property have softened over the past year across NT.
Darwin recorded a decline in total return of -3.0% over 2018-19 which was a larger fall over the previous year but not quite as large as the -3.6% fall in 2015-16.
In regional NT, total returns were recorded at 7.8% in 2018-19, down from 8.5% over the previous financial year.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%209.JPG" alt="">
Canberra recorded total returns of 6.0% over the most recent financial year.
The total return in Canberra has fallen over the year from 9.4% and the 6.0% return is the lowest since 2013-14. Canberra, along with Adelaide and Hobart are the only capital cities in which total returns have not been negative over any of the financial years shown.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%2010.JPG" alt="">
With early signs that the rate of decline in housing values has slowed in Sydney and Melbourne and rental yields rising across most regions of the country, the outlook for total returns over the coming year looks a little stronger at a national level.
As always, there will be diversity with most regions of the country outside of Sydney and Melbourne yet to show signs of an improving housing market. We may see an improvement in returns in the two largest capital city housing markets while returns continue to weaken elsewhere.
CAMERON KUSHER is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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Housing returns slump over the 2018-19 financial year: CoreLogic's Cameron Kusher

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The financial year just done was not a pretty one for property investors across Australia.
CoreLogic calculated total returns from residential property saw a fall of 3.3 percent in the 2018-19 financial year. Total investment returns is the value growth and gross rental returns.
Last financial year was the only financial year since at least 2005/06 that total residential property returns were negative.
The average return over the 13 year period was nine percent.
The best year was 2009-10 when the national return was almost 17 percent.
"Housing returns last year were worse than those recorded during the financial crisis and during the 2010-12 housing downturn," Cameron Kusher at CoreLogic noted, adding it was the combination of falling values and historically low rental yields that had driven total returns into negative territory.
Looking at the Sydney figures, it was the second consecutive financial year in which returns have fallen however, it was a larger 6.7 percent fall compared to the previous 2.7 percent fall in 2017-18.
They were the only years to record a fall since 2005-06, with the average Sydney return being 10 percent.
The best year was 2014-15 when the total return was 21 percent.
In regional NSW total returns were 0.5 percent down in the past financial year, the first time total returns recorded a decline in the past 14 years. NSW regional property saw an average eight percent over the extended period.
The combined capitals were down 4.5 percent, while all the rest was up 1.6 percent.
Kusher maintains that with the early signs that the rate of decline in housing values has now slowed and rental yields rising across most regions of the country, the prospect for total returns over the coming year looks a little stronger for some.
Sydney may see an improvement in returns although they may weaken in most of the other capital cities and regions elsewhere.
While the total returns from residential housing are not looking so attractive, residential property is not alone.
Try living off cash!
Outside of compulsory superannuation, property and shares are the two most common ways of building wealth in Australia.
Investors looking for the best place to invest always face a challenging decision, this year as much as ever. 
There are always the push and pull factors of residential property and shares so choosing the right strategy often comes down to investors’ own timeframes and preferences.
There needs to be an understanding the advantages and risks associated with both.
Be aware the ever present debate comparing the returns on shares with the returns on property tends to be seen through the prism of the commentator's bias.
The Australian share market recently hit an all-time high with the All Ords index surpassing its record in November 2007.
Once dividends are allowed for, the Australian share market had actually surpassed its 2007 record high back in 2013.
The Reserve Bank of Australia’s head of domestic markets Marion Kohler noted recently that the Australian sharemarket, once dividends are included, showed an average annual 8.5 per cent return since 1993.
AMP Capital chief economist Shane Oliver noted earlier this month that going through past bull market highs after a long period below can attract investors into the stock market so it could push on for a bit. 
My views that we shall see an exit of some sharemarket gains into the property market. Perhaps not the influx seen in past cycles, but enough to provide a fillip to the depth of property buying interest.
 
 
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jchancellor-FAypfDUnLy

Is there a choice for investors after housing returns slump over the 2018-19 financial year?

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Collingwood's Punter's Place Hotel has been offered to the market.
The Smith Street hotel is for sale via an expressions of interest campaign ending August 16th.
Nicholas Skapoulas of Nicholas Scott Real Estate is marketing the property.
Situated at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-collingwood-503265682" target="_blank">314 Smith Street</a>, the property has 520 sqm of floor space.
Set on a 383 sqm block, the listing describes the hotel as a "AAA Freehold."
It is currently leased at $180,000 per annum on a long term lease.
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jonathanchancellor-7SQnKwU6yx

Collingwood's Punter's Palace Hotel for sale

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WeWork is set to further expand its Sydney holdings after securing 11,000 sqm of space in a 12 year leasing deal.
The tenancy negotiated by JLL and Knight Frank marks WeWork’s first lease with building owner ARA Australia.  
JLL’s Justin Hayes, Director, Office Leasing – NSW, and Alex Wong, Director, Office Leasing – NSW, managed the deal on behalf of ARA Australia. 
Rohan Neville, Head of Asset Management at ARA Australia, said, “320 Pitt Street provides a unique accommodation solution for WeWork with a dedicated ground-floor entry and exclusive use of the low rise of the building.
<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/2019/7/22/322%20pitt%20st.jpg" alt="">
The 32-storey A-grade building has a net lettable area of 29,000 sqm.
Major upgrade works are underway and include an expanded new lobby and end-of-trip facilities. 
Tina Raftopoulos, Director, Office Leasing at Knight Frank, said: "The floor plates at 320 Pitt Street have natural light on all four sides and the column-free, efficient space enhances the options for vertical connectivity throughout the 320 Pitt Street WeWork facility.”
The building is close to Museum station, the new light rail route along George Street and the future Pitt Street Station on the Sydney Metro rail network. 
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WeWork lease further 11,000 square metres of Sydney CBD office space

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A trophy fast food asset at Bondi Junction has been listed for sale for the first time.
It's been the home of Guzman y Gomez since 2006. It was the Mexican fast food giant's second store to ever open in Australia.
Before that it was occupied by Giorgio's Fine Foods.
The property at <a href="https://www.realcommercial.com.au/property-retail-nsw-bondi+junction-503270142" target="_blank">1a Bronte Road</a> has a secure income of $189,199 per annum plus GST, with a fixed four percent annual rent increase.
The two storey freehold investment is zoned B3 Commercial.
Cushman &amp; Wakefield agents Anthony Bray and Yosh Mendis have an August 22 auction.
There will be remote bidding facilities in Brisbane and Melbourne.
The last sale on the small section of Bronte Road opposite Westfield was in 2003 when 3A-5 Bronte Road, the old Bondi Junction Medial Centre, sold for $8.9 million.
It is currently leased to Suncorp.
 
 
 
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jrobinson-rf4aSBido9

Bondi Junction fast food trophy asset listed for the first time

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EXPERT OBSERVER
Hobart and Tasmania are national leaders on price growth – although analysis of the latest sales activity data suggests the market has passed its peak after two years of strong growth.
In terms of annual price growth, Tasmania remains the undisputed champion of Australia. Nine out of ten locations across the state have increased their median prices in the past year – and many of them have recorded double-digit growth.
Hotspotting has analysed house price data for 76 suburbs and towns in Tasmania: 69 of them (91%) have recorded growth in their median house prices in the past year. Of the 69 house markets with price growth, 56 have increased by more than 5%, including 35 which have risen 10% or more.
Only 9% of Tasmanian house markets have experienced decreases in median prices – and only one location has dropped by more than 5%.
In the Hobart metropolitan area, the suburbs of Austins Ferry, Chigwell, Gagebrok and Risdon Vale have all increased between 20% and 25% in the past 12 months.
In Launceston, price uplift has been led by East Launceston (17%), Newnham (12%), South Launceston (16%), Summerhill (12%) and West Launceston (12%). 
In other parts of regional Tasmania, Scottsdale and Upper Burnie have both recorded 15% rises in their median house prices.
There are also examples of exceptional growth in unit markets, where 81% of locations have rising prices.
Growth markets for apartments in Hobart include Bellerive (16%), Claremont (19%), Glenorchy (16%), New Town (18%) and West Moonah (20%) – but the highly-rated suburb of Lindisfarne is the standout, with its median apartment price rising 32% to $445,000, based on 45 sales in the past 12 months.
In Launceston, there have been 25-26% rises in median unit prices in Newnham and Prospect Vale.
Strong though those results are, they are a little less spectacular than our findings three months ago. In that previous report we said: “In Hobart, we can find no suburbs with falling prices and none with minor growth. All have increased by more than 5% in the past 12 months – and 80% of them are up at least 10%. A key feature is most have recorded rises in the latest quarter, which indicates prices are still growing.”
So the current data represents a strong result, indeed the strongest anywhere in Australia, but not as strong as three months ago. This confirms our overall conclusion that markets in Hobart and Tasmania have passed the peak in their cycles and are gradually winding down.
The strongest evidence of this comes from our analysis of quarterly sales activity. We have classified 16 locations as rising markets, the lowest number in any quarter since late in 2016. 
The rise of markets in Hobart, Launceston and other parts of Tasmania began with a steady uplift in sales activity early in 2017 and we have seen strong sales activity since then, leading to nation-leading price growth.
But now sales volumes are subsiding and the number of plateau markets across the state is the highest since we began our quarterly surveys five years ago. Indeed, the number of plateau markets in Tasmania, quarter-by-quarter in the past two years, has been 17, 30, 39, 39, 40, 43, 46 and 54 – a clear pattern showing the increase in the number of locations where sales activity has passed its peak.
There are still suburbs with growth markets (measured by sales volumes) in both Hobart and Launceston. In the Hobart metropolitan area, suburbs that still have growth momentum include Berriedale, Bridgewater, Rokeby, Sorell, Old Beach, Margate and Howrah.
In Launceston, the suburbs that still have forward momentum include Mowbray, Prospect and Newnham.
Elsewhere in the state, growth markets include Cygnet in the Huon Valley south of Hobart, George Town in the north of the state near Launceston, Longford in the Northern Midlands, and Smithton in the Circular Head LGA in the far north-west.
While all the recent evidence suggests Hobart and Tasmania are gradually winding down from the peak of the cycle, the key question is whether recent positive events at a national level (election result, APRA changes, lower interest rates, tax cuts, etc) will re-ignite the state’s mini-boom.
We’ll know more three months from now.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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