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

Joel Robinson

Smith by Valli delivers design-led apartments to Melbourne’s inner north

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

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

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

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

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

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

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

ALTA Property to deliver $200 million Queens Road apartment tower

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

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

<html><body>
The Waterloo premises of Orangetheory Fitness, one of the world's largest gym franchises, has sold for the second time in just six months.
The 2015 built property last sold for $1,385,000 in May, and this time round sold for an undisclosed price.
The 400 sqm space at <a href="https://www.commercialrealestate.com.au/property/lot-2-17-19-danks-street-waterloo-nsw-2017-2014697781" target="_blank">17-19 Danks Street</a> in the heart of Waterloo has a net passing income of nearly $115,000 per annum.
<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/2018/11/13/orange2.jpg" alt="">
Orangetheory Fitness is signed to a long lease until 2027, with options to 2037. The global fitness industry giant has over 1,000 locations worldwide.
CBRE agents Stephen Grant, Matthew Fenn and Nicholas Heaton marketed the property.
They suggested the future Green Square development in Zetland is expected to bring 61,000 new residents and 22,000 new workers to the area by 2030.
 
<div class="prop-details-description__content">
 
</div>
 
 
 
 
</body></html>

jrobinson-rf4aSBido9

Waterloo home of Orangetheory Fitness sells for second time in six months

<html><body>
A 7-Eleven service station in North Melbourne has been listed for sale.
The freestanding station at <a href="https://www.realcommercial.com.au/property-retail-vic-north+melbourne-503011626" target="_blank">163-173 Boundary Road</a> is the last stop before the CityLink and sees 50,000 cars pass per day.
Recently rezoned to a commercial 1 zoned land holding, the property on 1,155 sqm has a rare 15 year lease through to 2027.
<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/2018/11/12/serv1.jpg" alt="">
It has options to 2042 and has a net income of $183,049 per annum, with fixed four percent annual rental increases.
The marketing through CBRE advises there is potential for further income through a signage billboard, subject to approval.
It has a November 29 auction.  
 
 
 
<div class="DescriptionPanel_mask_3ZNIk">
<div class="DescriptionPanel_description_20faq">
 
 
</div>
</div>
</body></html>

North Melbourne 7-Eleven servo for sale

<html><body>
Waterview Wharf Workshops, an absolute waterfront office building on the eastern shore of the Balmain peninsula, is seeking tenants.
The building was used as a ship repair yard by the Adelaide Steamship Company since the beginning of the last century.
It is now one of the remaining examples of maritime industrial architecture and has been preserved as a landmark on Sydney Harbour.
The waterfront heritage building at <a href="https://oxfordagency.com.au/commercial_post/23-37-nicholson-street-balmain-nsw-2041/" target="_blank">37 Nicholson Street has two leasing opportunities</a>.
<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/2018/11/12/balmain2.jpg" alt="">
Unit 8 is a 250 sqm absolute waterfront office (top and above) with polished floor boards and high ceilings.
Along with four parking spaces, the office space has a board room and an internal kitchen and bathroom.
Unit 23 spans 116 sqm and has two parking spaces, as well as a kitchen and bathroom.
Shane Blackett and Angelo Gatz at The Oxford Agency are marketing the suites.
 
 
</body></html>

Is this Sydney's best office view?

<html><body>
GUEST OBSERVATION
Getting aged care right is difficult. It involves staff training, qualifications and ratios, the entry of for-profit providers and ensuring access in regional areas – many of the issues highlighted in this year’s two-part Four Corners special.
A key challenge, from which must of the rest will flow, is increased funding.
Medicare – an Australian success story – provides one model.
Even the Medicare name works magic. The Medicare levy has been appropriated and boosted in order to brand and part-fund the National Disability Insurance Scheme.
We could do a Medicare
Medicare takes its features from both the public and the private sector. It is framed as an insurance levy, but unlike most insurance levies, it is linked to income. This means it reflects ability to pay rather than the likelihood of getting sick. As a result, it is affordable for everyone.
There have been many proposals to do something similar with aged care.
To date policymakers have instead opted for another common Australian funding model – combining user payments with a safety net of public funding for those without means or facing high costs.
The Productivity Commission has consistently plumped for this model over a more universal funding system, although there is little evidence that user fees are effective as a funding source.
So why not introduce an aged care levy on income?
But would that be right for aged care?
Oddly, the main argument against an income-based levy revolves around equity. Older people are income-poor but asset-rich. An income levy would set them back little even though they have been the primary beneficiaries of the enormous increase in house prices.
It would be paid instead by younger workers who are often facing insecure work, stagnant wages and expensive housing.
It’s a reasonable objection, and it drives much of the Productivity Commission’s thinking. The commission has focused instead on helping older people draw down their housing wealth to fund aged care payments.
But this too has problems. It can discourage preventive forms of care and it requires vulnerable people entering care to make complex financial decisions.
Tapping superannuation might be better
A third way, suggested by aged care expert Anna Howe, is to use superannuation.
After all, super is supposed to fund our post-work life, and aged care is a big part of that.
Despite more than $2.5 trillion being amassed in super, it does a poor job of providing either income security or security of care for older people. These responsibilities continue to fall on government.
Income within super is taxed unfairly
Super is also taxed very differently to other income. The rest of the income tax system is progressive, so those with higher incomes pay higher rates of tax. Income within super funds faces a flat tax.
For most people that matters little, but it creates enormous gains for those on very high incomes, which are made even bigger when they direct what extra income they can to super.
The flat tax on super earnings costs the budget A$23.25 billion per year. The Treasury says that’s set to climb to A$28.95 billion in 2020-21, a growth rate that dwarfs the projected growth in the cost of the pension.
Efforts to curb the cost to the budget of super tax concessions have largely focused on limiting how much extra cash we put into it.
But most of the cost comes from the income earned by money already in super.
Taxing it better could fund aged care
A Medicare-style insurance levy applied to the income earned by money within super would in principle be no different to the insurance premiums already taken from super accounts.
And it wouldn’t be paid by the young while they are young. Given that younger workers can’t access super until retirement, it would effectively be a levy on their future super wealth.
And because older people have larger super accounts than younger people earning more income to be taxed, the levy would fall far more heavily on baby boomers than younger generations.
And address gender equity
This approach would also address another important justice question – gender equity. Men have much more super than women.
That partly reflects the gender pay gap, but also the unpaid work gap, in which women typically spend more of their working lives than men out of paid work caring for family members.
Ironically, it is women who then rely more heavily on paid care in older age, largely because they outlive their partners. Women provide men’s care for free, but then pay for their own.
A levy on (mainly) men’s super would help even the books.
But the details would matter
A fair way to do it would be to apply the levy to super fund income only when it climbed to a threshold of (say) A$5,000 a year. That way it would protect small accounts while helping close the tax loophole enjoyed by those on the highest incomes.
All of us have an interest in properly funded aged care. More properly taxing super fund income would be one way to do it.<img src="https://counter.theconversation.com/content/103767/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;">
Ben Spies-Butcher, Senior Lecturer in Economy and Society, Department of Sociology, Macquarie 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/two-birds-with-one-stone-how-better-taxing-super-could-fund-aged-care-103767" target="_blank">original article</a>.
</body></html>

j.ballantyne1990-6AQqhLzZaK

How better taxing super could fund aged care: Ben Spies-Butcher

<html><body>
GUEST OBSERVATION
Transport, mobility and congestion continue to be <a href="https://theconversation.com/our-new-pm-wants-to-bust-congestion-here-are-four-ways-he-could-do-that-102249" target="_blank">hotly debated topics</a> in politics, the media, academia and soon at the <a href="http://www.urbanmotion.com.au" target="_blank">Urban Motion</a> conference in Brisbane. And rightly so.
The Australian Bureau of Statistics counted <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/9309.0" target="_blank">19.2 million registered motor vehicles</a> in Australia as at January 31 2018. While the human population grew by 27% since the turn of the century, vehicle numbers <a href="https://www.theaustralian.com.au/news/inquirer/if-car-ownership-keeps-growing-australians-will-be-outnumbered/news-story/92f65fe440421d9ede7155e895db723c" target="_blank">increased by 43%</a> and continue to grow in all states and territories.
The Australian House of Representatives Standing Committee on Infrastructure, Transport and Cities recently released a comprehensive report, <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House/ITC/DevelopmentofCities/Report" target="_blank">Building Up &amp; Moving Out</a>, on its inquiry into the Australian government’s role in the development of cities. The committee recommends:
"… the Australian Government, in conjunction with State and Territory Governments, undertake the development of transport networks which allow for fast transit between cities and regions, and within cities and regions, with a view to developing a more sustainable pattern of settlement based on the principle of accessibility at a local, regional and national level. The Committee further recommends that the development of a fast rail or high speed rail network connecting the principal urban centres along the east coast of Australia be given priority, with a view to opening up the surrounding regions to urban development."
The committee further recommends the <a href="https://theconversation.com/the-30-minute-city-how-do-we-put-the-political-rhetoric-into-practice-56136" target="_blank">30-minute city</a>, <a href="https://theconversation.com/cycling-and-walking-are-short-changed-when-it-comes-to-transport-funding-in-australia-92574" target="_blank">active transport</a> and a more sustainable urban form (Recommendation 11).
<iframe src="https://www.youtube.com/embed/ciJEHGMtpWc?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Global Mobility Index by the World Economic Forum and MIT Senseable City Lab, showing how people move in 100 cities around the world. Congestion levels calculated using real-time traffic-monitoring data, commuting time and the estimated percentage of trips that could be shared if citizens were willing to wait five minutes to share a trip.
Leading up to the report’s launch, many of the inquiry’s submissions and expert witness accounts stressed the need to arrest urban sprawl and heed well-established research advice. All levels of government often ignore this advice to appease voters, but more roads and more lanes make matters worse.
<a href="https://www.linkedin.com/pulse/transport-lies-opinion-piece-graham-currie-ftse/" target="_blank">Transport research</a> provides clear evidence that increasing road capacity is a shortsighted band-aid that increases car travel. It also promotes driving dependency and ultimately makes congestion worse.
Many of the report’s transport-related aspirations point in the right direction. Yet many of them are not new and come with their own set of challenges.
Proposals to solve Australia’s mobility crisis appear to be dominated by technocentric optimism – a strong belief that new technology and disruptive innovation will somehow make it all better. Contenders for the transport panacea include car-sharing and ride-sharing platforms, electric vehicles, autonomous vehicles, <a href="https://theconversation.com/why-trackless-trams-are-ready-to-replace-light-rail-103690" target="_blank">trackless trams</a> and more efficient traffic flow systems enabled by smart city investments in IoT (Internet of Things) sensors, big data analytics and urban science. Let’s debunk some of this.
More disruption?
The notion of disruptive innovation is often believed to bring about change for the better. One of the most commonly mentioned examples is Uber and similar commercial ride-sharing platforms. They certainly disrupted the established taxi industry. But cabs are no longer their main competitor.
Uber launched the “<a href="https://www.theage.com.au/national/victoria/will-melburnians-dive-into-real-ride-sharing-with-uberpool-20180607-p4zk08" target="_blank">Pool</a>” feature, which optimises routes so more than one rider can share the same car. As a result, the cost per ride now <a href="https://www.theguardian.com/sustainable-business/2017/jan/13/uber-lyft-cars-public-transport-cities-commuting" target="_blank">competes with public transport</a> rather than just cabs. And this risks making inner-city traffic <a href="https://www.washingtonpost.com/news/dr-gridlock/wp/2018/07/25/a-new-study-says-services-like-uberpool-are-making-traffic-worse/" target="_blank">worse</a>.
More driverless cars?
Another often-cited disruptive innovation involves autonomous vehicles and <a href="https://theconversation.com/the-winners-and-losers-in-the-race-for-driverless-cars-63874" target="_blank">driverless cars</a>. While they may come with <a href="https://theconversation.com/driverless-cars-could-create-new-jobs-in-a-welcome-boost-to-australias-motor-industry-89972" target="_blank">economic</a> and <a href="https://www.theiet.org/resources/books/transport/lowcarbmob.cfm" target="_blank">environmental</a> benefits, there are as yet <a href="https://theconversation.com/driverless-vehicles-could-bring-out-the-best-or-worst-in-our-cities-by-transforming-land-use-84127" target="_blank">unresolved issues</a>.
For example, the <a href="https://theconversation.com/of-cats-and-cliffs-the-ethical-dilemmas-of-the-driverless-car-49778" target="_blank">ethics in AI can cost people’s lives</a>, road usage funding and taxation are unclear, and the average car occupancy can drop below one. As a result, without regulatory intervention, self-driving cars will <a href="https://www.nytimes.com/2018/10/27/technology/driverless-cars-congestion" target="_blank">not reduce congestion</a> but <a href="https://www.ptua.org.au/myths/robotcar/" target="_blank">add traffic</a> to the roads.
More efficiency?
Transport offers vast room for improvement, so it is not surprising that optimisation is a low-hanging fruit. The <a href="https://www.ellenmacarthurfoundation.org/publications/growth-within-a-circular-economy-vision-for-a-competitive-europe" target="_blank">Ellen MacArthur Foundation</a> identified significant structural waste not only in fuel tank-to-wheel energy flow but also in road utilisation.
<a href="https://images.theconversation.com/files/242864/original/file-20181030-76413-arqq.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/242864/original/file-20181030-76413-arqq.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://www.ellenmacarthurfoundation.org/publications/growth-within-a-circular-economy-vision-for-a-competitive-europe" target="_blank">Ellen MacArthur Foundation, Growth Within: a circular economy vision for a competitive Europe</a>, Author provided
Researchers at MIT and ETHZ propose a <a href="https://dusp.mit.edu/transportation/news/death-traffic-light" target="_blank">slot-based intersection</a> that would double the usual capacity and herald the “death of the traffic light”.
<iframe src="https://www.youtube.com/embed/4CZc3erc_l4?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
MIT Senseable City Lab has developed slot-based intersections that could replace traditional traffic lights, greatly reducing queues and delays. Sensor-laden vehicles pass through intersections by communicating and remaining at a safe distance from each other, rather than grinding to a halt at the lights.
These efficiency gains are welcome. Yet, considering the ever-increasing demand for mobility, these measures on their own will not solve our mobility crisis.
Wanted: leadership!
What is seldom questioned is the need to travel in the first place. The right to mobility and freedom to move locally and globally are undoubted. But it is worth asking what regulatory instruments and economic shifts can produce sustainable mobility.
Some examples that have started making their way into the mobility debate include the impact of <a href="https://eprints.qut.edu.au/96279/" target="_blank">nomadic work</a> practices on transport demand and distributed <a href="https://eprints.qut.edu.au/116358/" target="_blank">co-working spaces</a> to reduce the need for CBD commutes.
Progressive policy interventions, such as <a href="https://theconversation.com/traffic-congestion-is-there-a-miracle-cure-hint-its-not-roads-42753" target="_blank">road congestion charges</a> and <a href="https://www.theguardian.com/world/2018/feb/14/german-cities-to-trial-free-public-transport-to-cut-pollution" target="_blank">free public transport</a>, lack the backing of political leadership in Australia.
Longer term, there is an urgent need to seriously consider even bolder policy innovation. We can learn from overseas examples, such as the six-hour work day, the four-day work week and the <a href="https://theconversation.com/we-should-create-cities-for-slowing-down-75689" target="_blank">slow city</a> movement, which is more about slowing down the “hamster wheel” of life than traffic. We should also evaluate <a href="https://greenagenda.org.au/2018/06/ecological-human-settlement-theory/" target="_blank">new approaches to human settlement</a> as well as what impact <a href="https://theconversation.com/australians-support-universal-health-care-so-why-not-a-universal-basic-income-91572" target="_blank">universal basic income</a> or <a href="https://www.ucl.ac.uk/bartlett/igp/news/2017/oct/igps-social-prosperity-network-publishes-uks-first-report-universal-basic-services" target="_blank">universal basic services</a> can have on reducing traffic congestion.
There are opportunities to join this debate at the <a href="http://www.urbanmotion.com.au" target="_blank">Urban Motion</a> conference in Brisbane on November 19-20 2018. We also invite participants to support the <a href="http://lowcarbonlivingcrc.com.au/FutureCities" target="_blank">Future Cities CRC</a> bid recently <a href="https://www.minister.industry.gov.au/ministers/karenandrews/media-releases/applicants-shortlisted-deliver-new-industry-focused-research" target="_blank">shortlisted</a> by the Australian government.
<hr>
Marcus Foth, Professor of Urban Informatics, Queensland University of Technology.
This article is based on the presentation “Smart Cities are Slow Cities” at the <a href="http://www.real-world-futures.qut.edu.au/future-living/" target="_blank">QUT Real World Conversation</a> forum on August 2 2018.<img src="https://counter.theconversation.com/content/105959/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
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/smart-mobility-alone-is-no-substitute-for-strong-policy-leadership-105959" target="_blank">original article</a>.
Most transport resources are being used inefficiently. The Canberra Transport Photo shows the road space required to move 69 people using public transport, bicycles and private motor vehicles. <a href="https://www.cyclingpromotion.org/canberra-transport-photo" target="_blank">Cycling Promotion Fund</a>, <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
</body></html>

Smart mobility alone is no substitute for strong policy leadership: Marcus Foth

<html><body>
Coles are selling the Kedron Coles Shopping Centre, north of Brisbane, just a year after it opened.
Four years ago Coles Group submitted an application to the Brisbane City Council to build the supermarket on the 9,550 square metre site at <a href="https://www.commercialrealestate.com.au/property/346-gympie-road-kedron-qld-4031-2014718303" target="_blank">346 Gympie Road</a>.
The state of the art premises has a Coles supermarket and Liquorland store supported by a Coles Express Service Station and cafe Coffee Guru.
<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/2018/11/12/Coles2.jpg" alt="">
The supermarket features an in-store bakery, an open-style butchery and 200 undercover and shaded car parks.
Completed last year, the property is 100% leased, with 96% of the tenancy coming from Coles.
Coles has a new 15-year net lease of the near 4,100 square metres lettable space. The total returns at $1,848,633 per annum.
It has exposure to 31 million cars per annum.
Savills agents Steven Lerch, Ben Parkinson and Peter Tyson are marketing the property.
</body></html>

Kedron Coles Shopping Centre listed

<html><body>
The recently closed Leinster Arms Hotel building has been listed for sale for $3.8 million.
It is being sold as vacant possession after long-time publicans Glen and Wilhelmina McGee closed the doors after AFL Grand Final Day, having been in charge of the landmark establishment for 18 years.
The 1860s building last traded for $208,500 in 1991.
<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/2018/11/12/lein2.jpg" alt="">
It was a regular for the late notorious crime figure Mark 'Chopper' Read.
The Leinster Arms Hotel at 66 Gold Street has 50 metres of prime street frontage from its near 600 square metre corner site.
It has a front bar, lounge and dining area, two function rooms, commercial kitchen, bricked bistro garden atrium and two outdoor beer gardens.
The sale through CBRE Hotels includes a 1am General Liquor Licence.
</body></html>

jonathanchancellor-7SQnKwU6yx

Collingwood's Leinstar Arms Hotel building for sale

<html><body>
EXPERT OBSERVER
The Reserve Bank has released its November Statement on Monetary Policy and a major interest is always in any revisions to its output, employment and inflation forecasts.
In that regard, we were a little surprised that the forecast for growth in 2019 remained at 3 ¼ per cent. That is because in the Governor’s Decision Statement following the November Board meeting, he noted “the forecast for economic growth in 2018 and 2019 have been revised up a little."
The central scenario is for GDP growth to average around 3 ½ per cent over these two years”. That seemed to point to an upward revision for the 2019 forecast but instead it remains 3 ¼ per cent.
However, there is some recognition of stronger growth in the second half of 2019 since growth through to June 2020 has been revised up from 3 to 3 ¼ per cent.
It is true however, that growth in 2018 has been revised up to 3 ½ per cent from 3 ¼ per cent, although that largely reflects a higher starting point given that the previous estimate of growth to June 2018 was lifted from 3 per cent to 3.4% actual.
The forecast for 2019, nevertheless, is significantly higher than Westpac’s forecast of 2.7%.
This can largely be explained by an assessment by the RBA that there will be no marked reduction in residential construction activity in 2019 and limited reduction in 2020. Secondly, the assumption is that household consumption growth will be sustained at around the current 3 per cent pace over the forecast period.
With regards to the residential construction cycle, the assumption is that the fall in building approvals, which is already apparent and the information the RBA has received from its liaison contacts in the industry that off-the-plan sales have slowed significantly, will not significantly impact activity until beyond 2020.
This seems to overlook evidence of a clear slowdown in non high-rise approvals, the likelihood of an increase in abandonments of approvals which are already in the system, and evidence, which the RBA notes, that “lot sales for new detached housing have also declined sharply in Sydney and Melbourne since late 2017”.
Instead we assess that all of these forces point to a more significant reduction in dwelling construction in 2019 and 2020 than the RBA is expecting.
The view around consumption growth being sustained at 3 per cent looks courageous. It relies on ongoing growth in employment despite a clear slowing through 2018, the elusive pick-up in wages growth, and only a relatively small wealth effect that might be related to the ongoing falls in house prices and associated household wealth. We would expect that with the savings rate down at around 4 per cent, this wealth effect is likely to be more significant.
There has also been an increase in the forecast for underlying inflation for the year to December 2019 from 2 per cent in the August SoMP to 2 ¼ per cent. With the recent September quarter inflation report confirming that underlying inflation is running at 1 ¾ per cent, this forecast lift of ½ per cent in underlying inflation looks to be optimistic.
The justification behind this increase is around expected faster wages growth and a larger reduction in the output gap due to the above trend growth in 2018 and 2019.
The history of underlying inflation indicates that a ½ per cent jump over the course of one year seems optimistic given the correction in housing that is underway.
The RBA’s analysis of the prospects for wages growth is tentative. In fact, it points out that “wage outcomes from enterprise bargaining agreements are likely to remain a drag on overall wages growth” and also points to its liaison work which notes that “there is still spare capacity in the labour market”.
Appropriately, the SoMP spends some time referring to international evidence which indicates that Australia’s unemployment rate could fall well below historical estimates of the NAIRU “before there is a material increase in wages growth”.
This evidence refers to globalisation, technological change, and changes in relative bargaining power. Other major risks to this inflation forecast relate to ongoing competitive forces in the retail sector and “a risk of further declines in administered prices” due to government initiatives to reduce cost of living pressures.
As was indicated in the Governor’s Decision Statement, the forecast for the unemployment rate has been lowered. However, this appears to be a cautious ‘mark-to-market’ exercise.
In August, the forecast was for the unemployment rate to fall from 5 ½ per cent in December 2018 to 5 per cent by December 2020.
The new forecast is for the unemployment rate to fall from 5 per cent in December 2018 (recognising the most recent employment report) to 4 ¾ per cent in December 2020.
The discussion around the risks of a lower NAIRU would suggest only a very limited prospect of resurgent wage pressures should the unemployment rate only fall by a ¼ per cent in two years.
It is difficult for a central bank to acknowledge political risks but with a Federal election certain to be called in 2019, the uncertainty/ confidence factor associated with such an event might also have been incorporated in the forecasts.
But their assumption around employment growth, income growth and business investment seems to indicate no effect taken into account – both construction activity and machinery and equipment investment are expected to be boosted.
Conclusion
On face value, the stronger growth and higher inflation forecasts might imply that the RBA is closer to raising rates than we have expected. That may well be the case from their perspective. But if the economy evolves as we expect with a slowdown in consumer spending, a contraction in residential investment, and softer confidence partly linked to global uncertainty, the RBA’s growth and inflation forecasts are unlikely to be achieved.
Of course, it will take some time for these developments to be apparent and based on the Governor’s comment “the Board does not see a strong case to adjust the cash rate in the near-term”, we have ample time for the outlook to evolve without a surprise policy adjustment based on these forecasts.
Westpac confirms its view that the cash rate will remain on hold through 2018, 2019 and 2020.  
BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
</body></html>

bevans-rYk9SxEa4r

RBA wrong to rely on small wealth effect given ongoing falls in house prices: Bill Evans

<html><body>
Two developers have joined forces for a new $40 million Fortitude Valley development.
Pellegrino Group Australia (PGA) and Mosaic Property Group will work together on the commercial and retail building, The Eminence, which was designed by Justin O’Neill of O’Neill Architecture.
The six-level A-grade building  to be built at 89 McLachlan Street will offer 3,500 square metres of commercial space and 305 square metres of retail space. 
Construction is set to commence mid-November 2018 with completion estimated for late 2019.
Pellegrino Group Australia Director Paul Pellegrino says both PGA and Mosaic Property Group are excited by the project.
“The Eminence has been specifically designed to provide optimal work-life balance with inspiration taken from co-working spaces to make it a flexible corporate environment for years to come,” Pellegrino said.
“It’s a boutique building that’s built to give those businesses with a smaller footprint in Brisbane, bigger exposure – something larger corporate buildings generally can’t offer.” 
Both developers will take up office space in the building.
Mosaic Property Group Founder and Managing Director, Brook Monahan said the McLachlan Street site was chosen after an extensive two-year search for a new headquarters for their company.
“We had a very stringent set of criteria for the property that would house our team and meet our requirements well into the future,” Monahan said.
“The Eminence was the first property that met this criteria as an asset that we wanted to hold longer term.
 “While the building is cutting edge in terms of design and technology, it is also surrounded by exceptional amenity being in the heart of the James Street lifestyle precinct.
“At the heart of the inner-north Urban Renewal precinct the area is full of life and energy and has significant room for continued market growth.
“We also felt that the Pellegrino Group was an excellent fit as a JV partner because of their shared values as an organisation.”
Two levels of the office building remain available for lease through agents Gerry Leyden and Michael Skaparis of CBRE and Alex Cameron and Sam Barr of JLL.
</body></html>

Pellegrino Group Australia and Mosaic Property Group announce joint Fortitude Valley venture

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
EXPERT OBSERVER
The Australian Bureau of Statistics (ABS) released housing finance data for September 2018 earlier today and it showed a further weakening of demand for mortgages.
Over the month, the total value of housing finance commitments was recorded at $29.1 billion which was the lowest monthly value since August 2014.
While the decline in finance commitments over recent times has been primarily driven by investors, owner occupier demand is now also clearly easing.
Click here <a href="https://www.propertyobserver.com.au/images/2018/11/Cam1.jpg" target="_blank">to enlarge.</a>
 <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/2018/11/Cam1.jpg" alt="">
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
Over the month, the $29.1 billion worth of housing finance commitments was split between $19.4 billion to owner occupiers and $9.8 billion to investors. 
The $19.4 billion worth of commitments to owner occupiers was its lowest monthly value since July 2015 while the $9.8 billion to investors was its lowest monthly value since July 2013. 
Lending to owner occupiers in September 2018 was -9.4% lower than its monthly peak in February 2018. Housing finance commitments to investors in September 2018 was -33.8% lower than its April 2015 monthly peak.
Click here <a href="https://www.propertyobserver.com.au/images/2018/11/Cam2.jpg" target="_blank">to enlarge.</a>
<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/2018/11/Cam2.jpg" alt=""> 
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
In terms of the different types of owner occupier housing finance commitments, each of the four categories recorded a fall over the month while year-on-year, refinance was the only segment that was higher. 
Importantly, the two largest components of lending to owner occupiers; refinance and purchase of established were -15.9% and -12.9% below their historic peaks in September 2018. 
</div>
</div>
</div>
</div>
Click here <a href="https://www.propertyobserver.com.au/images/2018/11/cam3.jpg" target="_blank">to enlarge.</a>
<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/2018/11/cam3.jpg" alt=""> 
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
It is a similar story for investors with demand falling across both new construction and established properties, both of which are lower over the month and year-on-year.
 In fact the September 2018 value of lending to investors for new construction was -46.9% below its peak while lending for established properties was -35.6% lower.
</div>
</div>
</div>
Click here <a href="https://www.propertyobserver.com.au/images/2018/11/cam4.jpg" target="_blank">to enlarge.</a>
<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/2018/11/cam4.jpg" alt="">
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
As investor demand has faded from the housing market, demand from owner occupier first home buyers had been trending higher. 
This lift was largely on the back of introductions of stamp duty free or stamp duty reduced purchases for first home buyers under certain price points in NSW and Vic which became available in July 2017. More recently the data is pointing to an easing of demand from first home buyers. 
In September 2018 there were 8,693 owner occupier first home buyer commitments which was both lower than the previous year (9,618) and the previous month (9,534). In fact the 8,693 commitments was the lowest monthly number since January 2017 (note the data isn’t seasonally adjusted so January is always much lower than other months) other than that you’d have to go back to June 2017 to see commitments so low (the month prior to stamp duty concession going live in NSW and Vic). 
Given the ongoing declines in dwelling values, particularly in Sydney and Melbourne, and the now apparent declines in owner occupier and investor housing finance commitments, it is hard to see a reversal in dwelling value declines or a lift in sales activity any time soon.
<div class="page" title="Page 3">
<div class="layoutArea">
<div class="column">
As activity reduces, housing inventory is building up, providing more choice for buyers and little in the way of urgency to make a purchase decision.
The upcoming pause for Christmas and New Year may see some adjustment in the New Year but even that looks unlikely. For the coming months it is expected mortgage demand will continue to fall as will dwelling values.
CAMERON KUSHER is a property research analyst for CoreLogic
</div>
</div>
</div>
</div>
</div>
</div>
 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News