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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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>
March trade figures released today by the Australian Bureau of Statistics (ABS) showed strong year-on-year growth of 3.51%, with Queensland (5.30%) and Victoria (4.73%) posting healthy year-on-year improvements.
The Executive Director of the Australian Retailers’ Association (ARA), Russell Zimmerman said although softer than anticipated, the results were reasonably solid results. 
The clothing, footwear and personal accessories category recorded standout 5.88% year-on-year growth in March, with footwear, in particular, recording a 6.43% year-on-year increase.  
“Clothing and footwear retailers have continued to experience rising growth since the beginning of the year, and with colder months ahead we can only expect these figures will increase,” Zimmerman said.  
Cafés, restaurants and takeaway food services (4.77%) and food retailing (4.46%) both experienced spikes in sales during March, with supermarket retailers recording 5.40% year-on-year growth. 
“Although consumer confidence has dampened over the last few months, the staggering rise in retail spend across cafés, restaurants and takeaway food services and food retailing, shows that Australians are starting to spend on discretionary items again and treating themselves to small luxuries,” Zimmerman said. 
“It is also pleasing to see that, despite recent droughts and floods occurring across various parts of the country, supermarkets have managed to bounce back, recording considerable year-on-year growth.”
Across the country, Australian Capital Territory Queensland (5.30%), Victoria (4.73%), Australian Capital Territory (3.71%),Tasmania (3.67%), New South Wales (2.70%), South Australia (1.87%),Western Australia (1.14%) recorded substantial growth, while the Northern Territory (-1.30%) recorded negative growth in March. 
“Queensland, Victoria, and the Australian Capital Territory have once again experienced strong year-on-year growth for March, while Tasmania and New South Wales also continue to show impressive growth year-on-year,” Zimmerman said. 
“Although these figures are pleasing, the persistent decline in retail spending across the Northern Territory over the last seven months is still a serious concern and we hope to see it turn around soon.”
Zimmerman said that it was to be hoped that whatever the outcome of the imminent federal election, the resulting government would be able to govern effectively without interference and frustration from minor party crossbench Senators.
“We are happy to work with whatever government is elected, but our overwhelming preference is for whomever that is to be able to just get on with it without constantly being frustrated in the Senate, which has put a handbrake on the process of government for many years now,” Zimmerman concluded.
Monthly Retail Growth (February 2019 – March 2019 seasonally adjusted):
<ul>
<li>Department stores (1.56%), Cafés, restaurants and takeaway food services (1.49%), Clothing, footwear and personal accessory retailing (0.50%), Food retailing (0.41%), Household goods retailing (0.26%) and Other retailing (-0.59%). </li>
<li>Australian Capital Territory (1.69%), Queensland (1.45%),Northern Territory (1.42%),New South Wales (0.83%), Victoria (0.82%), South Australia (0.78%), Western Australia (-0.07%) and Tasmania (-0.95%).</li>
<li>Total sales (0.37%).</li>
</ul>
Year-on-Year Retail Growth (March 2018 – March 2019 seasonally adjusted):
<ul>
<li>Clothing, footwear and personal accessory retailing (5.88%), Cafés, restaurants and takeaway food services (4.77%), Food retailing (4.46%), Other retailing (3.50%), Household goods retailing (0.57%) and Department stores (-0.42%).</li>
<li>Queensland (5.30%), Victoria (4.73%), Australian Capital Territory (3.71%),Tasmania (3.67%), New South Wales (2.70%), South Australia (1.87%),Western Australia (1.14%), and Northern Territory (-1.30%).</li>
<li>Total sales (3.51%). </li>
</ul>
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March retail trade figures show retail sector "chugging along": Australian Retailers Association 

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A former CSIRO property in Highett is set to become one of Melbourne’s largest infill development sites following an anticipated sales campaign. 
Colliers International’s Trent Hobart, Peter Bremner, Hamish Burgess have been appointed on behalf of CSIRO along with transaction manager Urbis, to sell a 9.34 hectare site at 37 Graham Road in Highett.  
“Known as Park Village, this extraordinary development opportunity represents one of Melbourne’s largest and most flexible infill development sites that will capitalise on the Bayside area’s continued growth by delivering pre-eminent park-side residences,” Hobart said.  
“It is a unique and truly unrepeatable offering in a blue chip market, the market has been waiting a long time for this site to become available. It has been a four-year wait for the market’s biggest and best buyers to be given the opportunity to purchase this site. 
“This is the only 93,400 square metres residential development site in a premium south eastern bayside location so we expect all major developers locally, nationally and internationally to have an interest in this sale.” 
 <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/2019/5/7/Mark%20up%201.jpg" alt="">
Home to former CSIRO laboratories, the site will be sold with vacant possession and clear of all building improvements.  
“The site is prominently positioned between the Nepean Highway and Port Phillip Bay, nestled amongst some of Melbourne’s most exclusive suburbs such as Brighton, Hampton and Sandringham,” Bremner said. 
“Park Village at Highett is an increasingly rare large scale, predominantly townhouse opportunity, that is destined to become a world class urban village set in a prime park setting with the future residences surrounded by 4,000 sqm of parkland, situated next to a Highett Shopping including Woolworths and the Highett Train Station.”
The Park Village site is located immediately south of the recently completed full line Woolworths Shopping Centre, 100 metres from the Highett Train Station and positioned within the new generation café and retail strip of Highett Road.
As part of the sale process, the land will be re-zoned upon settlement to Residential Growth Zone and Development Plan Overlay - Schedule 2. Upon settlement, 4 hectares of the site area will be transferred to Bayside Council for public open space and conservation.  
The property is for sale via an International Tender campaign, closing Wednesday 19 June 2019.
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Former Highett CSIRO site to be one of Melbourne’s largest infill development sites

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Australian fashion label Saba is the latest addition to Melbourne’s shopping strip Church Street, Brighton.
Fitzroy agent Mark Talbot negotiated the lease for 38 Church Street, located in the prime of the shopping strip, at $130,000 per annum plus outgoings and GST on behalf of a private owner.
“Church Street has retained its reputation as Melbourne’s best-performing retail strip for some time, boasting a strong mix of national retailers and fashion labels, as well as highly regarded local operators,” Talbot said.
Church Street boasts one of the tightest vacancies of Melbourne’s iconic shopping strips.
Fitzroys’ Walk the Strip report showed vacancies were crunched from 2.7% in 2017 to 1.3% in 2018.
“Opportunities for retailers to secure a prized Church Street location are rare and inevitably fiercely contested, reflecting the strip’s constrained supply and positioning within one of Melbourne’s most affluent and established consumer catchments,” Talbot said.
“Church Street’s enviable fundamentals will continue generating a long queue of retailers and operators seeking space in the strip.”
He said Brighton’s trading environment has been further bolstered with the introduction of medium-density residential developments in what is broadly a low-rise suburb, while the suburb is home to a number of highly sought after secondary schools.
Other transactions completed by Talbot in this section of Church Street, Brighton include prominent brands Lee Mathews and Flannel.
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Saba secures Church Street, Brighton store

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An adjoining owner has snapped up a significant office property in Forest Hill for $45.85 million as demand for commercial assets in metropolitan Melbourne continues. 
Colliers International’s Rob Joyes, Peter Bremner and Rachael Clohesy have negotiated the sale of 347-351 Burwood Highway in Forest Hill on behalf of a long-term Sydney based private investor.  
The 2.62 hectare Commercial 1-zoned site, which is home to two office buildings with a combined net lettable area of approximately 10,692 square metres, changed hands on a passing yield of circa 4%. The property was purchased from an offshore investor.  
“This purchase also represents the largest metropolitan office investment to transact so far in 2019,” Bremner said. 
The property was approximately 70% occupied at the time of sale with a weighted average lease expiry of approximately 3.4 years.
“Over the past two years, over $180 million of office investments have transacted within the Tally Ho Business Park precinct,” Joyes said.  
“Office investors are taking a long-term view of the Outer East market with a particular interest in land with existing Zoning flexibility and are anticipating land values will increase significantly in the years to come off the back of State Government investment such as the Suburban Rail Loop and Vicinity’s transformation of The Glen shopping precinct.” 
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/CT_COL_347-351_Burwood_Highway_Forest_Hill_187.jpg" alt="">
The Outer East office market has bounced back after a period of high vacancy, Colliers International said.
Its latest Metro Office Research &amp; Forecast Report states that vacancy is currently at 8.74% in the Outer East, which is below the long-term average of 9.56%. 
“Due to the tightening of vacancy in the City Fringe and Inner East markets, tenants view the Outer East as a more affordable option,” Joyes said. 
Significant recent sales within the precinct include:
<ul>
<li>VicRoads, 12 Lakeside Drive, Burwood East - $25.5 million </li>
<li>Hewlett Packard, 353 Burwood Highway, Forest Hill - $88 million</li>
<li>CFA, 16 Lakeside Drive, Burwood East - $9.6 million </li>
<li>CFA, 8 Lakeside Drive, Burwood East - $18.08 million</li>
</ul>
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Investment continues in Forest Hill with $45.85 million office sale

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The Melbourne accommodation market continues to enjoy buoyancy, according to HTL Property’s latest report.
The research showed strong increases in visitor numbers, aided by attraction to the city via its many international and local sporting events, together with world-class conference facilities, has kept occupancy levels high, and in turn, ADR and RevPAR continue to be elevated.
“Victoria is a highly sought-after accommodation market to invest in, driven by its variety of visitors,” said HTL Property’s Head of Research Vanessa Rader.
“Strong international visitors dominated by the family market enjoy the Melbourne CBD location; while domestic visitors like to travel further out of town in order to explore the natural wonders, as well as the wine regions.
“Melbourne has done much to promote its town and attract visitors; as evidenced by the various sporting events regularly held, together with the growing arts scene the city's attraction as a conference destination, has kept occupancy high and ADR competitive.
“This market has seen some new supply added and will continue to do so over the next few years, which we anticipate will keep these indicators stable.
“While investors (notably offshore buyers) will continue to aggressively contest these assets, keeping investment yields some of the lowest in the country.”
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%201.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/mel%201.jpg" alt="">   HTL Property Director of Asia Pacific Region Andrew Joliffe said demand for accommodation assets remained high, however limited quality stock available to the market had resulted in 2018 recording a record low in sales volumes.
“Sales turnover for 2018 has exceeded $400 million, which is approximately 40% down on 2017 results; and well behind the highs achieved in 2015,” Joliffe said.   “The sale of Pullman on the Park in mid-2018 propping up these volumes, selling for $156 million to iProsperity Group, on a reported yield of 5.50%.   “With Melbourne CBD and surrounds enjoying strong visitor demand, regional activity has historically been limited, typically recorded at less than 5% of the total volume of sales.   “CBD assets continue to be in strong demand, with overseas buyers vying for these assets; the Quincy Hotel (under construction) being the only city hotel selling in 2018 to InterGlobe out of India for $91.3 million, (representing close to $380,000 per room).”
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%202.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/mel%202.jpg" alt="">   Jolliffe said interest in accommodation hotel assets across Australia was high, particularly by overseas investors.   “This is at its highest in Melbourne given the strong international visitor numbers as well as domestic visitor attraction; keeping investment yields some of the lowest in Australia,” he said.   “Currently, Victorian yields range from 4.30% to 7.75% with an average of 5.50%, which has compressed by 210 basis points in the last five years   “Offshore activity is high with buyers hotly contesting CBD and suburban assets within a short proximity of the city centre.”
Joliffe said Victoria was the second most visited state in Australia by international visitors behind NSW, while domestic visitors choose Victoria behind NSW and Queensland.   “Tourism forecasts highlight these higher international visitor nights in 2017/2018, reaching 76,629 representing a 7.13% increase over the last year, whereas domestic visitor nights of 65,994 represented just 0.67% improvement,” he said.   “Looking ahead, international visitor nights are forecast to grow on average 7.16% per annum over the next five years, while domestic nights projections are for 2.51% annual growth over the same period.”   Joliffe said recent data from STR illustrated that the Melbourne Accommodation market has been trending slightly behind prior years, albeit ADR had remained steady.   “New stock additions to the market has kept competition high, and put pressure on the occupancy levels and RevPAR,” he said   “The accommodation market is cyclical with the various trends obvious across the Melbourne market.
“High occupancy is enjoyed during three periods throughout the year, February–March, July–August and October–November.   “Most recent data for February 2019 highlights peak occupancy of 89.1% a new monthly high, with ADR recorded at $197.74.”
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%203.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/mel%203.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%204.jpg" target="_blank">Click here</a> to enlarge: 
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/mel%204.jpg" alt="">
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Melbourne accommodation market remains buoyant: HTL Property

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EXPERT OBSERVATION
The March retail report showed a slightly better than expected monthly gain but a materially weaker than expected result for March quarter sales volumes, the latter being the more important takeaway.
Monthly sales posted a 0.3% gain, beating expectations of a 0.2% rise with Feb’s surprisingly firm 0.8% gain marked up to a 0.9%. Annual growth lifted from 3.2%yr to 3.5%yr.
That’s where the good news ends though. The wash up for the quarter as a whole showed all of these gains in nominal sales were due to higher prices with sales volumes declining.
Real retail sales dipped 0.1% in Q1, coming in well below consensus expectations of a 0.3% gain with the quarter on a par with the flat result in Q4. Annual growth has slowed to 1.1%yr but with a cumulative gain of just 0.2% over the last three quarters is in danger of dropping below 1%yr next quarter.
<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/2019/5/31/New%20Project%2022.jpg" alt="">
The undershoot vs expectations was due to a stronger than expected rise in retail prices which rose, up +0.8%qtr vs +0.7%qtr in Q4. The sub-category detail shows a particularly big rise in food prices (+1.4%qtr vs 1.2% in Q4). Non food retail prices posted a 0.2%qtr gain.
The detail also points to a material slowing in sales across sub-categories associated with ‘big ticket’ discretionary spend, consistent with a wealth effect drag from the housing market correction. In particular, household goods retail volumes declined 0.6% in the quarter to be flat over the year, a marked slowdown on the 5.4%yr growth seen this time last year. Department stores also recorded a contraction, sales volumes down 1.2%qtr, and –0.7%yr. Other non food categories, mostly ‘small ticket’ discretionary, recorded small gains for the quarter and over the year. Cafes and restaurants were the only bright spot, recording a 1%qtr gain in Q1 to be up 1.4%yr.
<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/2019/5/31/New%20Project%2023.jpg" alt="">
By state, NSW was the only state to post a gain in Q1, up 0.6%qtr, but was coming off a bigger 1.1%qtr fall in Q4, annual sales growth slowing to just 0.9%yr. Results across the other states were: Vic –0.3%qtr, +2.3%yr; Qld –0.1%qtr, +1.5%yr; SA –0.4%qtr, –0.4%yr; WA –0.6%qtr, –0.7%yr and Tas –0.9%qtr, +1.7%yr. The broad based weakness in the quarter suggests that it is not just about spillovers from the correction in housing markets which to date has been largely confined to NSW, Vic and WA.
Looking by channel, online sales look to have posted a 0.7% gain in the March month, annual growth slowing to 'just' 12.7%yr, a subdued gain for this segment.
Overall the March retail report points to downside risks to the wider consumer spending estimates in the March quarter GDP, the headwinds that emerged in the second half of last year clearly carrying into 2019. 
MATTHEW HASSAN is a Senior Economist for Westpac. 
Read full article <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/May/er20190507BullRetailQ1.pdf" target="_blank">'Australian retail sales Q1'</a>.
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Matthew_Hassan-HHWHptmrw4

Retail volume results materially weaker than expected: Westpac's Matthew Hassan 

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EXPERT OBSERVERS
Industrial relations is in the DNA of Australian politics: it is the defining policy issue that has traditionally distinguished Labor from the Coalition.
Industrial relations issues have featured prominently in recent election campaigns, with <a href="https://www.fairwork.gov.au/how-we-will-help/templates-and-guides/fact-sheets/rights-and-obligations/enterprise-bargaining" target="_blank">Australian Workplace Agreements (AWAs)</a>, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2016-03-16/jericho-10-years-on,-the-spirit-of-workchoices-still-lives/7248368" target="_blank">WorkChoices</a> and union governance being the subject of fierce contestation between the major parties. However, this election the policy contrast is especially evident.
While the policies of the major parties have always differed, over the past 30 years there was a neoliberal consensus on economic policy that in some respects extended to industrial relations.
For instance, the <a href="http://www8.austlii.edu.au/cgi-bin/viewdb/au/legis/cth/consol_act/fwa2009114/" target="_blank">Fair Work Act</a> implemented by the Rudd government reversed some but not all elements of Howard-era industrial relations policies. It largely maintained constraints on trade union power.
But this consensus is fracturing, as reflected in the policy settings of the two major parties. The Coalition has held steadfast to the idea that industrial relations and labour market issues are best left to the logic of the market. From this perspective, a strong economy enabled by low taxation and minimal government intervention results in employment and wage growth.
In contrast, and in light of the evident decoupling of economic growth and wages growth, the ALP has taken a more interventionist stance. This reflects less confidence in market mechanisms alone to solve persistent issues such as gender inequality, low pay and the proliferation of precarious work.
<h2>The Coalition’s commitments</h2>
Much of the Liberal and National parties’ policy platform focuses on what the Coalition has achieved in office. Most prominent is the focus on the <a href="https://www.liberal.org.au/our-plan/economy" target="_blank">Coalition’s job record</a>, particularly its claim to have created 1.3 million jobs since it was first elected in September 2013.
The Coalition highlights recent job growth among younger workers, increased workforce participation among women and the creation of full-time jobs. This is despite persistent challenges relating to gender equality at work, unemployment and under-employment among young workers and a prevalence of insecure and non-standard work arrangements.
Very little is said explicitly about wages, job security and other “core” industrial relations issues. One explanation for this could be memories of the “WorkChoices election” of 2007 when the Howard government’s weakening of worker protections led to its removal from office.
Or it could be because of an ideological view that removing market constraints, particularly for small business, will lead to improved conditions for workers. This is a strong theme in the Coalition’s platform: it claims that lower taxes are “a critical part of our plan to deliver a strong economy and record job creation”.
The Coalition also points to its record in “tackling union lawlessness”, particularly through the establishment of the <a href="https://theconversation.com/restoring-the-construction-watchdog-abcc-experts-respond-69643" target="_blank">Australian Building and Construction Commission</a>. A key aspect of the Coalition’s policy platform is to highlight Labor’s perceived weaknesses through its links with the union movement and also the potential impact of climate change policies on employment in carbon-intensive industries.
But it’s hard to see this resonating much among voters, who for the past two decades have seen unions are having much less power than big business (see below).
Voters’ perceptions of the power of trade unions and big business, Australia, 1967-2016
<a href="https://images.theconversation.com/files/272427/original/file-20190503-103053-t25lnp.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/272427/original/file-20190503-103053-t25lnp.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Australian National University, Australian Electoral Study 1987–2016
<h2>Labor’s commitments</h2>
Reflecting a renewed enthusiasm for policy aimed at challenging the free rein of the market, the Labor Party has announced a suite of interventionist measures. Some appear aimed squarely at amending the Fair Work Act – for example, legislating to prevent employers using agreement termination to revert to award wages and conditions, and to impose higher penalties for wage theft.
However, the bulk of Labor’s announcements relate to three themes: the problems of ongoing wage stagnation and income inequality, job insecurity and gender equity at work.
Key to the ALP’s wages policies is a commitment to develop a “<a href="https://theconversation.com/shorten-to-announce-labors-living-wage-plan-but-without-an-amount-or-timing-114225" target="_blank">living wage</a>” to keep working people out of poverty. Details of how this will be calculated will likely be left to the Fair Work Commission.
Another <a href="https://www.smh.com.au/federal-election-2019/employers-wary-as-bill-shorten-promises-2-6m-casual-workers-the-right-to-convert-20190423-p51gi1" target="_blank">headline announcement by the ALP</a>, easier conversion from casual to permanent work, draws a connection between the prevalence of insecure forms of work and historically low wage growth.
Commitments to ensure labour hire workers receive the same pay as those who are directly employed and an <a href="https://www.alp.org.au/policies/labors-plan-for-secure-jobs/" target="_blank">undertaking</a> to “make sure workers in the gig economy are paid properly and not used to undermine Australian wages, including by changing the legal test for sham contracting” suggest enthusiasm for a recalibration of labour market regulation away from free-market logic.
This is reinforced by a broader set of policies focusing on the eradication of <a href="https://theconversation.com/at-last-australia-has-a-modern-slavery-act-heres-what-youll-need-to-know-107885" target="_blank">modern slavery</a>, the inclusion of superannuation in the <a href="https://www.alp.org.au/policies/labors-plan-to-save-workers-super-from-dodgy-bosses/" target="_blank">National Employment Standards</a> and <a href="https://www.alp.org.au/policies/labors-plan-for-pay-transparency-for-large-company-ceos/" target="_blank">reporting requirements</a> for CEO pay in listed companies.
<a href="https://www.alp.org.au/policies/labors-plan-to-help-close-the-gender-pay-gap/" target="_blank">Gender equity</a> at work policy provides a stark area of contrast between the two main parties. The ALP has pledged A$400 million towards closing the gender superannuation gap, a 20% <a href="https://www.smh.com.au/federal-election-2019/labor-s-childcare-wages-plan-to-cost-at-least-1-6-billion-a-year-20190501-p51j1n" target="_blank">increase in pay for early childhood educators</a> and prioritising gender equity in the Fair Work Act and in the work of the Fair Work Commission.
Linking gender equity to wage stagnation, Labor has announced it will <a href="https://www.theguardian.com/australia-news/2018/jul/01/shorten-promises-to-restore-penalty-rates-and-spend-6bn-on-sydney-rail" target="_blank">reinstate penalty rates</a>, the loss of which has had a disproportionate impact on female-dominated industries such retail services and hospitality.
<h2>Comparing apples and oranges</h2>
The small-target approach of the Coalition to industrial relations during this election campaign is very difficult to compare to the comprehensive suite of policies released by the ALP. This is partly a result of the inherent nature of election campaigns – the incumbent seeks to defend its record and the challenger to present a convincing agenda for change.
What the industrial relations policies of the major parties most starkly reveal is a Coalition that maintains its conviction that fiscal measures such as tax cuts are the best way to “regulate” the labour market, and a Labor Party that’s looking to curb market excesses and redress what it sees as market failures.
This provides a stark choice for voters.<img src="https://counter.theconversation.com/content/116256/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/sarah-kaine-19347" target="_blank">Sarah Kaine</a>, Associate Professor UTS Centre for Business and Social Innovation, <a href="http://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a> and <a href="https://theconversation.com/profiles/chris-f-wright-9738" target="_blank">Chris F. Wright</a>, Senior Lecturer, <a href="http://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of 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/how-the-major-parties-stack-up-on-industrial-relations-policy-116256" target="_blank">original article</a>.
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jrobinson-rf4aSBido9

How the major parties stack up on industrial relations policy

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<div style="text-align: left;" align="center">Australian retail turnover rose 0.3 per cent in March 2019, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. </div>
Following on the heels of a 0.9 per cent rise in February 2019. Ben Faulkner, Director of Quarterly Economy Wide Surveys said, "cafes, restaurants and takeaway food services (1.4 per cent) and Food retailing (0.4 per cent) led the rises with strength in food prices contributing to rises, especially in supermarkets and grocery stores."
"Clothing, footwear and personal accessory retailing (1.2 per cent) and Household goods retailing (0.2 per cent) also rose. The rises were partially offset by falls in Department stores (-1.5 per cent) and Other retailing (-0.4 per cent)". In seasonally adjusted terms, ABS found there were rises in Victoria (0.7 per cent), Queensland (0.6 per cent), New South Wales (0.2 per cent), Tasmania (0.4 per cent), South Australia (0.1 per cent), and the Northern Territory (0.7 per cent). The Australian Capital Territory was relatively unchanged (0.0 per cent) and Western Australia (-0.7 per cent) fell in seasonally adjusted terms in March 2019. The trend estimate for Australian retail turnover rose 0.3 per cent in March 2019. Compared to March 2018, the trend estimate rose 3.0 per cent.  Online retail turnover contributed 5.7 per cent to total retail turnover in original terms in March 2019. In March 2018 online retail turnover contributed 5.1 per cent to total retail. For the March quarter 2019, there was a fall of 0.1 per cent in seasonally adjusted volume terms.
The quarterly fall in volumes was led by Household goods retailing (-0.6 per cent), and Department stores (-1.2 per cent). Cafes, restaurants and takeaway food services (1.0 per cent), Other retailing (0.3 per cent), Food retailing (0.1 per cent), and Clothing, footwear and personal accessory retailing (0.3 per cent) all rose in seasonally adjusted volume terms.
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Australian retail turnover rose 0.3 per cent in March: ABS

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EXPERT OBSERVER
Remarkable consistency of steady performance is the hallmark of the Adelaide property market, which I regard as the nation’s most under-rated. It has more suburbs with rising demand than any other capital city and the current number is the second highest for Adelaide since Hotspotting started its quarterly surveys of sales activity four years ago.
In the past seven quarterly surveys, the number of growth suburbs has been 48, 45, 58, 61, 71, 60 and 62, showing that the market remains elevated compared to the levels of 18 months ago and continues to show great consistency.
SA, dominated by Adelaide, has impressed with its steady performance in the past five years. Each of the past 21 quarters has recorded between 8,000 and 9,500 dwelling sales. Adelaide has recorded between 45 and 71 growth suburbs in 16 of the past 17 quarterly surveys. 
It continues to rank well ahead of Sydney, Melbourne and Brisbane, as well as the strongly recovering Perth market, in terms of the number of growth suburbs – and ahead of most state regional jurisdictions (where most of the strong growth markets are found at present).
And while sources such as CoreLogic and SQM Research report annual growth of only 1-2% in Adelaide house prices, these generalised figures disguise individual areas which have done better. Our suburb-by-suburb analysis shows that 74% of Adelaide markets have median prices higher than a year ago - and roughly half of those have grown by more than 5%.
Of the 199 Adelaide suburban markets analysed, 70 have grown 5% or more and 78 have increased by less than 5%. There are 23 suburbs where the annual growth in median prices has topped 10% - including North Adelaide (up 23%), Mansfield Park (20%), St Georges (18%), Henley Beach South (15%), Glenelg units (27%) and Norwood units (17%).
It’s noteworthy that many of the upper-end suburbs have recorded more than 5% growth in their median prices in past 12 months. Suburbs with median prices above $700,000 and good annual price growth include Beulah Park, Clarence Park, Craigburn Farm, Glen Osmond, Glenelg East, Glenunga, Goodwood, Henley Beach, Henley Beach South, Kensington Park, North Adelaide, Prospect, Seacliff, Somerton Park, St Georges, Stirling, Unley and Walkerville.
The growth is not all confined to the top end: there are suburbs with growth above 10% spread across all price ranges, including Broadview (up 15% to $560,000), Daw Park (up 14% to $640,000), Mansfield Park (up 20% to $395,000) and Tea Tree Gully (up 12% to $445,000). This reinforces the reality that out-performing areas can be found even when the overall market appears to be moderate.
The high number of suburban markets with rising sales activity suggests price growth will continue.
Adelaide has a broad geographical spread of LGAs with good numbers of growth markets. There are nine municipalities which have four or more suburbs with rising sales trajectories leading to price growth. This means there is growth momentum across the metropolitan area.
Port Adelaide Enfield continues to be a leading precinct, with eight growth suburbs including Dernancourt, Enfield, Greenacres, Lightsview, North Haven, Northfield and Semaphore. Five suburbs have recorded annual median price growth above 5%.
Onkaparinga, which always features prominently, also has eight suburbs with growth momentum – including Aldinga Beach (quarterly sales 54, 62, 71), Flagstaff Hill (36, 42, 53, 56), Reynella (16, 26, 36, 31, 42) and Sellicks Beach (15, 15, 23, 22, 35).
The upmarket Burnside LGA is a new contender: it has six upwardly-mobile suburbs, including Glenunga, Burnside, Kensington Gardens, St Georges and Toorak Gardens. Five suburbs have recorded annual price growth above 5%, including Glenunga (up 11% to $1,055,000) and St Georges (up 18% to $1,150,000).
The Marion LGA, a middle-market area in the south-west of Adelaide which has been a market leader for the past 18 months, has faded slightly but still has five growth suburbs in terms of sales activity and five where median prices have increased more than 5%.
Six municipalities have four or five rising markets each: the Charles Sturt, Campbelltown, Holdfast Bay, Playford and Salisbury LGAs, as well as Marion.
The affordable Tea Tree Gully LGA features as a highly-consistent market and one where eight suburbs have recorded median price growth of 5% or more – including the suburb of Tea Tree Gully (up 12% to $445,000) and Fairview Park (up 9% to $410,000).
The solid performance of the Playford and Salisbury LGAs (eight growth suburbs between them) means the northern suburbs provide a range of very affordable markets with rising momentum. The suburb of Salisbury Hills ($285,000) in the Salisbury LGA has lifted sales from 30 to 32 to 41 to 56 in the past four quarters, while Andrews Farm ($275,000) in the Playford municipality has recorded quarterly sales totalling 33, 46, 50 and 52 after the past 12 months.
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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Adelaide the most under-rated property market in Australia: Hotspotting's Terry Ryder

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Manly’s Hotel Steyne has been sold.
Sydney's popular northern beaches pub has been bought by Iris Capital founder Sam Arnaout whose said he was "delighted" to have bought the pub.
"We intend to get a good feel for the asset and work with the locals to return their pub to its former glory," Mr Arnaout said.
It was listed for sale in February.
Arnaout said the Steyne positioned Iris Capital as a "genuine hospitality leader in this part of the world, and complements our macro coastal investment strategy in respect of similar landmark projects such as Newcastle's $700 million East End development".
The Steyne will boost Iris Capital's portfolio to 20 pubs across Sydney, including the Grand Hotel, Bondi Junction; Golden Tiger, Hurstville; Gaslight Inn, Darlinghurst and Peden's Hotel in Cessnock.
Iris Capital beat out other contenders by paying between $60 and $80 million for the iconic pub.
Nine Entertainment suggest it was $65 million.
HTL Property would not be drawn on the sale price, however described it as a “record price” in their official statement.
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The Manly Daily reported the shortlist of five, included two international buyers, two from Sydney and one from interstate.
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It was reduced to a final two.  
The landmark and multi-level beachfront hotel, spread across approximately 2000sqm, was offered by a consortium that comprised businessman John Singleton, hotelier Arthur Laundy and investors Robert Whyte and Mark Carnegie.
They paid about $30 million for the property in 2010, and have reportedly spent about $5 million.
Speaking to the Manly Daily, Mr Laundy said that he was happy with the outcome, both from a sale price perspective and the new buyer.
He said he had bought and sold more than 90 hotels in his almost 60 years as a publican, and Hotel Steyne would easily be in his top 10.
 
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