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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

<html><body>
Oxford Hotel, a consistent top 100 freehold gaming pub at Drummoyne, NSW, has hit the market. 
It has been offered by Dan Dragicevich, Sam Handy and Andrew Jolliffe of HTL property.
Set on a 947sqm block, Oxford Hotel at 195 Victoria Rd &amp; 15-17 Lyons Road features 30 EGM's, recently approved 4am liquor licence, and D.A. lodged gaming room extension with 30% increase in size plus direct service or access points. 
The outdoor areas come with additional scope to activate a roof top beer garden with CBD, harbour and bridge views. 
There are solid existing food and beverage revenues.
The site also offers further redevelopment and site amalgamation potential. 
It is the first freehold gaming pub publicly offered to market in 2019.
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j.ballantyne1990-6AQqhLzZaK

Oxford Hotel in Drummoyne, NSW hits the market

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CBRE Hotels’ Scott Callow and Wayne Bunz have been appointed to oversee the Ibis Budget in the Melbourne CBD being marketed for sale this week.
The three-star hotel features 146 recently refurbished guest rooms, reception area, food and beverage outlet and other supporting facilities.
With a CBD location on Elizabeth Street, between Collins and Bourke Streets, the hotel is within immediate proximity to the historic Flinders Street Station as well as other landmarks and amenities.
The Ibis Budget Melbourne CBD is currently operated by AccorHotels, Australia’s largest hotel management company, under a long-term agreement. 
Mr Callow said, "the Ibis Budget is modern and ideally located in the heart of Melbourne’s CBD, close to transport hubs and sporting, retail and business centres."
“The Ibis Budget represents an entry point 146-room hotel, which is hard to come by in the CBD due to escalating land values over the past five years.”
Mr Bunz said, “economy hotels have become less viable to develop in CBD locations, which makes existing opportunities even more valuable."
 It is being offered for sale via a public international expression of interest campaign, closing Thursday, July 18, 2019.
<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/2019/6/20/Ibis%20Budget%20hotel.jpg" alt="">
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Ibis Budget Hotel in the Melbourne CBD for sale

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EXPERT OBSERVER
For some time our view has been a less upbeat on the Australian economy than the consensus and notably the RBA.
The reasons were simple.
The housing cycle has turned down and this is weighing on consumer spending.
And this is at a time when the risks to the global economy have increased as the trade war threat has ramped up again.
All at a time when high levels of underemployment are keeping a lid on wages growth and, along with technology and competition, inflation.
Consequently we have been expecting rate cuts this year which have now commenced and have further to go.
We see a strong case for more fiscal stimulus to help the RBA in boosting growth and see an increasing risk that the RBA may have to use some form of quantitative easing to achieve its inflation target.
But the gloom around the Australian economy seems to have gone over the top lately with all the talk around rate cuts adding to the sense of malaise and more and more talk about a recession being inevitable.
Surely it can’t be that bad!
And why despite all this doom and gloom is the share market at an 11- year high, up 16% year to date and just 4% shy of its 2007 resources-boom high.
There must be some positives around.
And there are!
So, to inject some balance into the debate around Australia here is a list of positives.
They are partly why we don’t see Australia as being about to plunge into recession.
1. Australia’s current accounts deficit has collapsed
As a share of GDP, it’s the lowest since the 1970s as high iron ore prices have combined with solid growth in export volumes and pushed the trade balance into a record surplus. The current account deficit is the gap between what we spend as a nation and what we earn – so its near disappearance means we are less dependent on foreign capital. This is a big one given that a big scare of the 1980s in Australia was that the large current account deficit and rising foreign debt would lead to a major crisis, collapse the economy and require an IMF bailout. Like with most doomster stories on Australia, we are still waiting!
<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/2019/6/29/oliver%201.jpg" alt="">
Source: ABS, AMP Capital
2. The Australian dollar helps stabilise the economy The $A is down 38% from its 2011 high and is likely to fall further and this provides a shock absorber for the Australian economy as a lower $A makes Australian businesses that compete internationally more competitive – eg higher education, tourism, mining, manufacturing, agriculture.
3. The drag from falling mining investment is over The big drag on growth (which was up to around 2 percentage points at one stage) as mining investment fell back to more normal levels as a share of GDP is likely over and mining investment plans look to be moving up again.
4. There is scope for extra fiscal stimulus The Federal budget is nearly back in surplus and while we have had a long run of deficits our public finances are in good shape compared to the US, Europe and Japan.
<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/2019/6/29/oliver%202.jpg" alt="">
Source: IMF, AMP Capital
Some fiscal stimulus is already on the way with tax refunds for low and middle income earners. While the Government is focussed on achieving a surplus it seems to be recognising the case to do more to help the economy with talk of bringing forward infrastructure spending.
5. Infrastructure spending is booming Infrastructure spending is booming. While growth in public capex may peak this year, NSW has flagged another round of asset sales to fund new infrastructure spending and suggestions to bring back Joe Hockey’s asset recycling program (that saw the Federal Government provide a financial incentive to states to sell existing assets and use the proceeds to plough back into new infrastructure spending).
6. There is no sign of panic property selling Despite the falls in property prices we have seen no sign of a “crash”. Non-performing loans are still relatively low even in Perth where prices are down nearly 20%. There has been no significant panic selling. The switch for many from interest only loans to principle and interest has not seen mass defaults or mass selling. And the combination of the removal of the threat to negative gearing and the capital gains tax discount along with rate cuts has seen buyer interest return.
7. The political environment remains sensible While the Federal election has been analysed to death, the bottom line is that Australians as a whole were not prepared to support a populist agenda of higher taxes on the “top end of town”, substantially increased public spending and redistribution. Just like they weren’t prepared to support a more right-wing free market agenda in 1993. Australia is not immune to the populism seemingly sweeping the world, but it seems to be limited to a relatively minor influence. Maybe it’s the moderate climate, maybe it’s the lack of extreme inequality, maybe it’s the compulsory voting system that keeps motivated extremists in their place in favour of a sensible centre.
Whatever it is – economic policy making in Australia could always be better (economists would love to see a greater focus on economic reform) but it’s generally pretty sensible.
8. Population growth remains strong Australia’s population growth at around 1.5% pa is strong and supported by a high fertility rate and high levels of immigration. While it’s far from a world beater – with the top 10 countries by population growth seeing growth of between 3 to 5% pa - it is at the high end of comparable countries and roughly double the OECD average and of the US and UK and is faster than India.
Of course, strong population growth is not without issues –around integration, congestion, the environment, adequate housing and infrastructure. And ultimately in terms of living standards it is economic growth per person (or per capita) that matters not total growth and lately per capita GDP has gone backwards. But solid population growth also has significant benefits in terms of supporting demand growth in the economy, preventing lingering oversupply (as today’s excess – say Sydney apartments – can quickly turn into tomorrow’s shortfall) and keeping the economy dynamic. It also means that while Australia’s population is ageing, the problem is far less challenging than in most advanced countries as by comparison Australia with a median age of 37 is relatively young and it has a relatively low old age dependency ratio.
9. The RBA can still do more While the official cash rate is at a record low of 1.25%, it can still go lower and we think it will, whereas in Europe and Japan rates are already at zero (or just below). Our view remains that the RBA will cut the cash rate to 0.5% beyond which it will probably conclude it’s of little benefit as it will make it harder for banks to pass on rate cuts as they will have more bank deposits at zero and so cutting mortgage rates would mean reduced profit margins and probably less lending.
But the RBA can still do quantitative easing – if needed. This basically involves seeking to boost the economy by injecting more cash into the economy using printed money. The lesson from the US, Europe and Japan was to go early and go hard. Japan and then Europe left it a bit too late, but the US went early and has achieved more success with QE.
QE as practiced there – using printed money to buy assets on the hope that banks would use the cash to lend, people would borrow and investors would help the economy by taking on more risky investments – may help. But it may not be the most efficient approach (as much of the cash just ended up in bank reserves) or the most equitable (to the extent it boosted prices for shares and other risky assets that are disproportionately held by high income/wealthier people).
A better option in terms of QE may be to use printed money to finance fiscal stimulus – maybe by directly buying bonds issued by the government. This is a radical step. The Austrian economists would scream hyperinflation! But they did with QE in the US a decade ago too and we are still waiting. In any case the problem is a lack of inflation and the risk of deflation. But it would work in terms of boosting spending in a fair way. It could involve either government spending on things like infrastructure (which both adds to demand and the economy’s productive potential) or tax cuts or “cheques in the mail” with use by dates.
But bear in mind Australia is a long way from needing to do this – we are not in recession so it’s really a debate about what can be done ahead of time which is actually healthy. Better this than wait for a crisis to hit then scramble on what to do.
Australian shares – what’s going on? Which brings us to the strong Australian share market. Much of the recent surge in the Australian share market reflects strong gains in mining stocks on the back of the strong iron ore price, strong demand for high yielding stocks as bond yields have plunged and the post-election bounce. And if global shares have a further setback on the back of trade fears then Australian shares will be impacted too. But it’s also worth noting that the Australian share price index has underperformed global share markets for almost a decade now reflecting tighter monetary policy from October 2009, the surge in the $A into 2011, the end of the commodity price boom, worries about a property crash and a mean reversion after Australia’s 2000 to 2009 outperformance. Many of these factors have run their course, have reversed or have been factored in by the share market so maybe the decade-long underperformance by Australian shares is coming close to an end.
<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/2019/6/29/oliver%203.jpg" alt="">
Source: Thomson Reuters, AMP Capital
Concluding comment The point about all this is that while Australian growth may be going through a rough patch and this could go on for a while yet, there is a bunch of things going well for the Australian economy and there is plenty of scope for more monetary and fiscal stimulus. So – barring a significant global downturn threatening our export earnings big time – recession is unlikely, and it would be wrong to get too gloomy on Australia.
SHANE OLIVER is the Head of Investment Strategy and Chief Economist at AMP Capital 
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Nine reasons why an Australian recession is unlikely: Shane Oliver

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GUEST OBSERVER
I've very much enjoyed reading James Glynn in my Wall Street Journal app this year, as one of the most informed commentators on Aussie monetary policy.
<div>Always straight to the point and almost unerringly accurate. </div>
<div> </div>
<div>Yesterday in Glynn's take he argued that there's no point in the Reserve Bank delaying action, calling for another rate cut in July to an official cash rate of 1 per cent, followed by a possible further salvo of cuts towards the end of the year. </div>
<div class="separator"> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-kaxsG_b0V7s/XQnH5T_9v4I/AAAAAAAAwiU/uGam_SV7oQUZZyWYprmIuhBy5RBK4-mOACLcBGAs/s640/JG.jpg" width="640" height="132" data-original-height="153" data-original-width="736"></div>
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<div>Today's skilled job advertisements figures did little to dispel the notion, with another decline in May taking the trend year-on-year decline out to 6 per cent. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-gCDidzrgTm0/XQnH5cjH_UI/AAAAAAAAwig/c2FdekaHDCATavQQd6jYrg8CphWXZmFkwCEwYBhgL/s640/DOE.jpg" width="640" height="366" data-original-height="790" data-original-width="1377"></div>
<div> </div>
<div>There were year-on-year declines across each of the three main states, and in 7 of the 8 major occupational groups. </div>
<div> </div>
<div>There's been some growth in white collar and professionals vacancies, but tellingly the construction and trades ads have dropped away sharply. </div>
<div> </div>
<div>Thus the strong jobs recovery rather looks set to die on its, erm, feet. As the Aussie dollar scrabbles around at decade lows, benchmark iron ore spot prices have ballooned to multi-year highs across all the major grades. <div class="separator"><img src="https://1.bp.blogspot.com/-a6d3QotflxE/XQqd1spJ-vI/AAAAAAAAwjA/jI6_2cVIFakyjy2d2QeQvSTMAJnSekQfwCLcBGAs/s640/IO.jpg" width="640" height="358" data-original-height="803" data-original-width="1430"></div>
 I wanna see the receipts!</div>
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<div>
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.  </div>
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No reason for the RBA to wait on cutting: Pete Wargent

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A local high net worth individual has spent $16 million on the former Bank of New South Wales building in the Sydney CBD.
The vacant three storey office block belonged to the Shanghai based Dahua Group who had paid $4.6 million in 2009.
The building at 25 King Street, one the corner King and Sussex Street, has a net lettable area of 969 sqm and sits on a 278 sqm site.
It is listed as an item of local heritage significance, having been originally constructed in the early 1890s for the purposes of the western branch of the City Bank of Sydney.
The Dahua Group recently spent $7.4 million on extensive building refurbishments which included a full façade restoration, reparation of spiral staircase, specialist plasterwork and conservation of pressed-metal ceilings.
New works included an interconnecting stair, lift and rooftop deck.
Architect Design Studio Group undertook the works with building firm Built.
Andy Hu and Jordan Lee of Savills Australia secured the sale.
Hu said the building’s prominent corner location benefits from high pedestrian and vehicular traffic and the roof top terrace boasts views of Darling Harbour and Cockle Bay.
“This is a landmark boutique building which offers a vast selection of open workspaces, function areas, timber and stone floors throughout and three sides of natural light with amazing water views”
 
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Former Bank of NSW building in Sydney sells for $16 million

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Frasers Property Australia and Sekisui House, the joint developers behind the $2 billion Central Park development in Sydney’s CBD, have secured Jaycar Electronics to a flagship tenancy at Central Park Mall.
The electronic giant has unveiled a collaborative experiential retail concept that encourages people to “Think Possible”.
The new store sells over 7,000 active product lines as well as integrating an equipment for hire service, interactive display areas and collaborative workspaces.
It’s centred around a “Maker Hub” – a dedicated space where customers participate in workshops, challenges, attend events and use specialised equipment such as 3D printers to work on their own projects.
Felicity Armstrong, General Manager – Assets, Frasers Property Australia says the new Jaycar store is an ideal fit with the experiential and entertainment identity of Central Park Mall.
Located on level one of Central Park Mall, the new Jaycar store spans over 420 square metres and is a larger format than most of its other stores.
Jarrod Carroll, Chief Marketing Officer, Jaycar says the new concept pushes the boundaries of experiential retailing.
“Our new Maker Hub space will allow customers to have hands-on experience with many of our products,” Carroll said.
“It’s all about inspiring people through the endless possibilities of technology.
“We didn’t want to be in a mainstream styled shopping mall but wanted a centre that better reflects our brand personality.
“After investigating the options in the area we liked the concept, design and tenancy mix at Central Park Mall best, including its artistic and creative precinct.
“We also loved the proximity to the universities and TAFE and the inner city too – with easy access via transport.”
The new lease continues the strong partnership between Frasers Property and Jaycar.
Earlier this year the two agreed a deal that will see Frasers Property deliver a new 21,595 square metre state-of-the-art automated warehouse and distribution centre for Jaycar at its Eastern Creek Business Park in Sydney.
Central Park Mall is anchored by a Woolworths supermarket and Palace Cinema complex, and houses a diverse mix of entertainment, fashion and experiential retailers, all complemented by a world class alfresco dining precinct.
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Jaycar chooses Central Park Mall for new concept store

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Melbourne-based interdisciplinary design firm ODO has been appointed to design the interiors of Australia’s first 1 Hotel in Melbourne.
Situated on the northern bank of the Yarra River, 1 Hotel Melbourne will form part of Seafarers, a $450 million mixed-use project by Riverlee.
The precinct will end up comprising luxury residences, a waterfront public park, state-of-the-art events venue, food and beverage offerings and 1 Hotel Melbourne; offering 280 guest rooms.
The nature-inspired and sustainably-designed hotel, operated by SH Hotels &amp; Resorts, an affiliate of renowned hotel and private investment firm Starwood Capital Group.
Each 1 Hotel is designed to highlight the beauty of nature, fusing luxury with sustainability and environmental responsibility, with a focus on local sourcing and the communities in which it operates.
“We were pleased to discover ODO while conducting our nationwide search for the right design studio that would embrace 1 Hotel’s design philosophy and sensibilities,” said Vice President, Design, SH Hotels &amp; Resorts, Tony Machado.
“We are looking to create an environment and ambience that is rooted in these local narratives,” said Samson Tiew, Co-Founder and Director of ODO.”
ODO joins a line up of consultants on Australia’s first 1 Hotel, including Fender Katsalidis on the overall design of Seafarers and Oculus who are responsible for bringing nature into the precinct. 
Placing a strong emphasis on urban renewal and restoring the site’s historical elements, Riverlee has worked closely with the state government to ensure the Malcolm Moore crane, the wharf and the Goods Shed No.5 are incorporated into the redevelopment of the site.
1 Hotel Melbourne will open in 2022.
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Melbourne-based ODO appointed to design Australia’s first 1 Hotel interiors

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GUEST OBSERVATION
As Australians seek to <a href="https://theconversation.com/australia-has-two-decades-to-avoid-the-most-damaging-impacts-of-climate-change-104409" target="_blank">control rising energy costs</a> and tackle the damaging impacts of climate change, rooftop solar has boomed.
To manage the variability of rooftop solar – broadly, the “no power at night” problem – we will also see a rapid increase in battery storage.
The question is: what will happen to these panels and batteries once they reach the end of their life?
If not addressed, ageing solar panels and batteries will create a <a href="https://www.smh.com.au/politics/federal/waste-crisis-looms-as-thousands-of-solar-panels-reach-end-of-life-20190112-p50qzd" target="_blank">mountain of hazardous waste for Australia</a> over the coming decades.
Our research, published recently in the <a href="https://www.sciencedirect.com/science/article/pii/S0959652618336321" target="_blank">Journal of Cleaner Production</a>, looked at the barriers to managing solar panel waste, and how to improve it.
A potentially toxic problem
Solar panels generally last about 20 years. And lead-acid and lithium-ion batteries, which will be the most common battery storage for solar, last between five and 15 years. Many solar panels have already been retired, but battery waste will start to emerge more significantly in 2025. By 2050 the projected amount of waste from retired solar panels in Australia is over 1,500 kilotonnes (kT).
<img src="https://images.theconversation.com/files/275370/original/file-20190520-69189-10eryit.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Mass of end of life solar panels (a) and battery energy storage (b) 2020-2050. Salim et al. 2019
Solar panels and batteries contain valuable materials such as metals, glass, ruthenium, indium, tellurium, lead and lithium.
Recycling this waste will prevent environmental and human health problems, and save valuable resources for future use.
Product stewardship
Australia has a <a href="https://www.environment.gov.au/protection/waste-resource-recovery/product-stewardship/consultation-review-ps-act-incl-ntcrs" target="_blank">Product Stewardship Act</a>, which aims to establish a system of shared responsibility for those who make, sell and use a product to ensure that product does not end up harming the environment or people at the end of its life.
In 2016, solar photovoltaic (PV) systems were added to a <a href="http://www.environment.gov.au/protection/waste-resource-recovery/product-stewardship/legislation/product-list-2017-18" target="_blank">priority list</a> to be considered for a scheme design. This includes an assessment of voluntary, co-regulatory and regulatory pathways to manage the waste streams.
Sustainability Victoria (on behalf of the Victorian state government and with the support of states and territories) is leading a national investigation into a system of shared responsibility for end-of-life solar photovoltaic systems in Australia. Our research project has supported the assessment process.
Industries play a crucial role in the success of any product stewardship scheme. As we move into assessing and testing possible schemes, Australia’s PV sector (and other stakeholders) will have critical input.
A preferred product scope and stewardship approach will be presented to environment ministers. Scheme design and implementation activities are tentatively set to start in 2020.
Moving towards a circular economy
Federal and state environment ministers recently agreed to update the <a href="http://www.environment.gov.au/system/files/resources/d523f4e9-d958-466b-9fd1-3b7d6283f006/files/national-waste-policy-2018.pdf" target="_blank">National Waste Policy</a> to incorporate the principles of a <a href="https://theconversation.com/explainer-what-is-the-circular-economy-23298" target="_blank">circular economy</a>.
This approach aims to reduce the need for virgin raw materials, extend product life, maintain material quality at the highest level, prioritise reuse, and use renewable energy throughout the process.
Businesses in Australia currently have little incentive to innovate and improve the recycling rate. By helping implement circular business models such as lease, refurbishment and product-service systems, we can boost recycling, reduce collection costs and prolong tech lifetimes.
Requiring system manufacturers, importers or distributors to source solar panels and batteries designed for the environment makes both economic and environmental sense. By doing so, recyclers will recover more materials and achieve higher recirculation of recovered resources.
Consumers need to be provided with proper guidance and education for responsible end-of-life management of solar panels and batteries.
Immature domestic recycling capability
Now that <a href="https://theconversation.com/chinas-recycling-ban-throws-australia-into-a-very-messy-waste-crisis-95522" target="_blank">China is no longer accepting waste for recycling</a>, Australia needs to rapidly develop its domestic recycling industry. This will also spur job creation and contribute to the green economy.
Given Australia is struggling to recycle simple waste, such as cardboard and plastics, in a cost-effective way, we need to question our capability to deal with more complex solar PV and battery waste.
Australia currently has little capacity to recycle both <a href="http://reclaimpv.com/" target="_blank">solar panels</a> and <a href="https://envirostream.com.au/" target="_blank">batteries</a>.
And even if China were to suddenly start accepting Australia’s waste – an unlikely proposition – we cannot simply export our problem. As a signatory to the <a href="http://www.basel.int/Countries/StatusofRatifications/PartiesSignatories/tabid/4499/Default.aspx" target="_blank">Basel Convention</a>, exporting hazardous materials requires permits.
A previous study suggests half of Australia’s scrap metal is <a href="https://www.sciencedirect.com/science/article/pii/S0892687514003707" target="_blank">exported for overseas processing</a>, which indicates the lack of incentives for domestic recycling.
Even if we build domestic recycling capability for solar panels and batteries, it will be underused while landfills remain available as a low-cost disposal option.
It’s promising that South Australia and the ACT have banned certain e-waste categories from entering landfill, while Victoria will implement an all-encompassing e-waste landfill ban from July 1 2019. This means any end-of-life electrical or electronic device that requires an electromagnetic current to operate must be recycled.
Creating a circular economy for solar and battery waste will need a strong commitment from policymakers and industry. Ideally, we need to prioritise reuse and refurbishment before recycling.
If we combine sensible policies with proactive business strategy and education to promote recycling rates, we can have a reliable and truly sustainable source of renewable energy in this country.
The authors would like to acknowledge the contribution of Michael Dudley from Sustainability Victoria to this article.<img src="https://counter.theconversation.com/content/117421/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;">
Rodney Stewart, Professor, Griffith School of Engineering, Griffith University
Hengky Salim, PhD Candidate, Griffith University
Oz Sahin, Senior Research Fellow, Griffith University
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/theres-a-looming-waste-crisis-from-australias-solar-energy-boom-117421" target="_blank">original article</a>.
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There’s a looming waste crisis from Australia’s solar energy boom

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An Australian owned and operated energy storage company has secured a brand new speculative built warehouse facility in Darra to house their operations.
RedEarth Energy Storage have leased the 2,024 sqm space located at 15 Fienta Place for $120 per square metre, in a seven year deal negotiated by Chris Young of Savills.
Executive of Savills Industrial and Business Services, Chris Young said the transaction was negotiated with a fitout incentive in place.
“An ‘innovation centre’ will be built, from which RedEarth will conduct research and development, there will also be a control room built for the monitoring of its battery fleet, plus a staff training room,” Mr Young added.
RedEarth engineer and manufacture a range of solar battery systems, including both on and off-grid storage and hybrid energy storage.
Executive Director of RedEarth Energy Storage, Charles Walker reports that they plan to make and sell over $70 million of Australian-made energy storage systems by 2022.
The property is set to benefit from the next stage of the Ipswich Motorway upgrade, which will see a new off ramp onto Kimberley Street built.
“This will make the site accessible from the motorway within minutes,” Mr Young said.
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Savills secure Darra warehouse lease for RedEarth Energy Storage

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The NSW Budget indicates that the softening housing market has wiped out $10.6 Billion in expected stamp duty since 2017 but the Budget has no stimulation for the housing market.
The NSW Budget is a well -rounded document that continues the government’s roll out of city shaping infrastructure with $93 Billion committed to key projects.
The positive commitment to infrastructure is offset by a loss of $10.6 Billion in expected stamp duty due to the soft housing market.
The major commitment to infrastructure should underpin the urban growth across the state with a major focus on public transport growth that should occur around rail stations and in city centres.
The housing development industry is getting mixed signals from government on where development should occur and this is eroding confidence within the industry. 
Confusion exists over the ‘missing middle’ code, the future of spot rezoning, affordable housing levies and the impact of lifting the cap on infrastructure levies. 
Resolution is needed on these areas so that the current slow-down can be reversed.”
While housing construction is down the budget papers do point out that this is partly off-set by the large infrastructure construction commitment and a swing by some developers towards commercial office projects. 
Unfortunately for the budget these projects do not contribute stamp duty to the Treasury.
The Budget Statement (P 2-4) states that apartment commencements fell 22 per cent within the final quarter of 2018 and then states ‘Expectations for ongoing strong population growth and a stabilisation in house prices from late 2019 should encourage the commencement of more projects. 
How conditions in the housing market evolve over the next 12 months will be important for dwelling investment and household consumption.’ 
The budget included a proposal to drive reform of Federal Financial Relations with a review from a NSW perspective.
On major rail infrastructure projects the Sydney Metro West will receive $6.4 Billion over 4 years to fast track construction.
 These large rail infrastructure projects in Minister Andrew Constance’s portfolio are important locations for Sydney’s growth.
Western Sydney is a big winner in the budget with Stuart Ayres portfolio receiving $561 million for 2019-20 towards the Parramatta Light Rail, $404 million to upgrade the Northern Road, $286 million for Westmead Hospital, $196 million for Nepean Hospital. $108 million for Campbelltown Hospital.
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The Minister for Planning and Public Spaces, Rob Stokes, had smaller financial commitments including $113 million to create connected communities and $162 million to upgrade government-owned land and buy new land for public parklands as well as for increasing tree canopy across Sydney.
The NSW Budget demonstrates that the state’s finances are in a strong position but the reduction in expected stamp duty is warning signal that the housing market has problems in years ahead. 
The Urban Taskforce believes that the NSW Government needs to have a plan to ensuring the softening housing market is managed back into a strong position that handles population growth and continues the large number of jobs the industry generates.
CHRIS JOHNSON is the Urban Taskforce CEO
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