<p><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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=140747 project_image_fid=367540]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=140747 project_image_fid=367529]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=140747]</p>


Joel Robinson

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

<p><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;</p>

<p>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.</p>

<p>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.</p>

<p>"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.</p>

<p>[smartcode_project:default project_id=509 project_image_fid=365684]</p>

<p>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.</p>

<p>Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.</p>

<p>"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;</p>

<p>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;</p>

<p>“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;</p>

<p>[smartcode_project:default project_id=509 project_image_fid=365687]</p>

<p>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;</p>

<p>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.</p>

<p>"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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=509 project_image_fid=365689]</p>

<p>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.</p>

<p>"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;</p>

<p>640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.</p>

<p>"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."</p>

<p>One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.</p>

<p><em>Renders shown are Artist's Impressions correct as of May 2026.</em></p>

<p>[smartcode_project_cta:default project_id=509]</p>


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

<p><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.</p>

<p>The sale equates to around $37,500 per sqm.</p>

<p>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.</p>

<p>Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.</p>

<p>“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.</p>

<p>“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”</p>

<p>[smartcode_project:default project_id=146358 project_image_fid=323057]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.</p>

<p>“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”</p>

<p>[smartcode_project:default project_id=146358 project_image_fid=323055]</p>

<p>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.</p>

<p>Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.</p>

<p>“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”</p>

<p>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.</p>

<p>[smartcode_project:default project_id=146358 project_image_fid=323052]</p>

<p>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.</p>

<p>Mould said the design intent was to balance that outlook with a sense of retreat.</p>

<p>“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.”</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=146358]</p>


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

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=110588 project_image_fid=5346]</p>

<p>It was a strategic move for BIG Projects to bring in a Sydney eye to the development.</p>

<p>“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.</p>

<p>“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.”</p>

<p>There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;</p>

<p>[smartcode_project:default project_id=110588 project_image_fid=5347]</p>

<p>Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."</p>

<p>“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.</p>

<p>"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.”</p>

<p data-end="236" data-start="64">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.</p>

<p>[smartcode_project:default project_id=110588 project_image_fid=5360]</p>

<p data-end="523" data-start="308">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.</p>

<p data-end="670" data-start="525">“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.</p>

<p data-end="760" data-start="672">Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.</p>

<p data-end="951" data-start="762">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.</p>

<p data-end="951" data-start="762">"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.</p>

<p data-end="951" data-start="762">Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.</p>

<p>[smartcode_project_cta:default project_id=110588]</p>


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

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p><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" /></p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;</p>

<p>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;</p>

<p><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" /></p>

<p>For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;</p>

<p>“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.</p>

<p>"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.</p>

<p>“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."</p>

<p>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.</p>

<p>"We are really looking forward to the market’s response,” he said.&nbsp;</p>


ALTA Property to deliver $200 million Queens Road apartment tower

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p>Even in the low seasons of May and June, occupancy levels reach around 40 per cent.</p>

<p><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" /></p>

<p>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</p>

<p>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.</p>

<p><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" /></p>

<p>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.<span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><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" /></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span><span><span><span><span><span>​</span></span></span></span></span></span></p>

<p>The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;</p>

<p>Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.</p>

<p>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;</p>

<p>Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.</p>


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

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<p>IHG has signed a deal with Barnes Capital to open a striking Holiday Inn in Coburg, Melbourne’s up-and-coming northern suburb, in 2020. </p>
<p>Holiday Inn Melbourne Coburg will enjoy views.</p>
<p>It will feature a gym and large meeting facilities, as well as a bar and all-day dining. </p>
<p>The 150-room new build hotel will show off a bold, new design statement for Holiday Inn, created by architects Hachem, with its mirrored glass design destined to become a landmark in the heart of Coburg, 20 minutes to Tullamarine. </p>
<p>Holiday Inn Melbourne Coburg complements the 16 Holiday Inn hotels already open across Australasia.</p>
<p>It is the IHG’s second Holiday Inn signing in a week, and the latest in a string of signings including Sydney Central, Melbourne Werribee and Geelong. </p>
<p><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/2018/5/9/HI%20Coburg%201.jpg" alt=""></p>
<p>IHG currently has 47 hotels operating under four brands in Australasia, including: InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express, with another 17 in the pipeline, including Hotel Indigo Brisbane Fortitude Valley and Hotel Indigo Melbourne Docklands.</p>
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j.ballantyne1990-6AQqhLzZaK

IHG to open design-led Holiday Inn in Melbourne’s Coburg

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<p>Kew’s popular High Street commercial precinct is witnessing a generational change, with the sale of a second key site in a matter of months set to further activate new space along the strip.</p>
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<p>Fitzroys’ Chris James and David Bourke have just sold <a href="https://www.commercialrealestate.com.au/property/171-173-high-street-kew-vic-3101-2014319305" target="_blank">171-173 High Street</a> for $4.175 million under the hammer, on behalf of private vendors that had owned the site for over 50 years.</p>
<p><span>Owner occupiers and local and offshore investors competed at auction that was won by a local investor. The sale price reflected a 3.9% yield and land rate of around $14,752 per sqm. </span></p>
<p><span>Six months ago, James and Bourke sold a Commercial 1-zoned 526 sqm concrete yard at nearby 226-232 High Street for $4.5 million to a local developer in an off-market deal. </span></p>
<p><span>The 283 sqm site at 171-173 High Street comprises a double-storey 332 sqm building with two ground-floor retail spaces tenanted by ASX-listed Flight Centre and Onyx homewares shop, and a first-floor residence above. It returns $164,000 per annum plus outgoings from multiple income streams. </span></p>
<p><span>James said the property is in the prime section of the High Street, Kew commercial precinct, at the junction of Cotham Road, and with an ASX-listed tenant tenants attracted more than 100 enquiries throughout the campaign. </span></p>
<p><span>Bourke said the purchaser jumped at the primely positioned value-add opportunity in one of Melbourne’s most prestigious suburbs. </span></p>
<p><span>“The property backs onto Athaneum Place, the brick lane connecting Brougham and Walpole streets, which the City of Boroondara has been revitalising to enhance the amenity of the adjacent Kew Junction Shopping Centre with a contemporary and vibrant public space,” he said. </span></p>
<p><span>“The new owner, a local investor, will look to activate the area at the rear of the property with a retail offering fronting the improved Athaneum Place.” </span></p>
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<p>James said the purchaser of 226-232 High Street had completed a number of successful developments across Melbourne and is looking to utilise the site for a mixed-use project.</p>
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<p><span>“The ongoing introduction of medium and high-density residential developments and a growing office population in Melbourne’s inner eastern suburbs of Camberwell, Hawthorn and Kew have stimulated the retail precincts throughout the region, including Kew Junction, Glenferrie Road and Camberwell Junction,” he said. </span></p>
<p><span>More than 2,000 apartments are currently in the pipeline throughout Melbourne’s inner-east. </span></p>
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Kew's High Street undergoing generational change

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<div class="column">EXPERT OBSERVATION</div>
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<div class="column">The weekly ANZ/Roy Morgan consumer confidence rating rose by 0.7 per cent to a 15-week high of 121.6. Confidence is up by 8.4 per cent over the year and above the average of 113.8 since 2014.</div>
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<div class="column">Sentiment towards family finances over the past year rose by 2 per cent to a 3-month high of 110.1. And views on whether it is a ‘good time to buy’ a major household item rose by 2.6 per cent to 141.7 over the week.</div>
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<div class="column">Consumer confidence figures have implications for retailers, and other consumer-focussed businesses.</div>
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<div class="column">Click here <a href="https://www.propertyobserver.com.au/images/2018/5/23/sentiment.jpg" target="_blank">to enlarge.</a>
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<div class="column"><strong>What does it all mean?</strong></div>
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<div class="column">Aussie consumers are feeling pretty good about things. Sentiment has increased for six straight weeks. If this momentum continues we’ll be back at the best levels in four years in no time.</div>
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<div class="column">But the pessimists are telling us that we aren’t going to get pay rises any time soon, job creation is slowing and that we are all mired in mortgage debt.</div>
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<div class="column">So why are Aussies more optimistic? Job security is improving. 332,200 Aussies have been gainfully employed over the past year. Unemployment expectations are at the best levels in seven years. Real wages are still positive with annual wages growth including bonuses at 3-year highs (data released last week).</div>
<div class="column"> </div>
<div class="column">And there is the small matter of the ‘wealth effect’. The housing market is rebalancing on the east coast of the country. Dwelling prices were down by 3.4 per cent in Sydney over the 12 months to April. But are still up by 87.1 per cent since April 2009. Hobart is going gangbusters and Perth home prices are stabilising.</div>
<div class="column"> </div>
<div class="column">The Aussie share market (ASX200 index) is up by 1.3 per cent so far this month and 3.3 per cent over the past four weeks (both to May 21). Energy, materials and health care shares collectively have performed well.</div>
<div class="column"> </div>
<div class="column">Aussie consumers have also reacted positively to the Federal Budget. Tax cuts, albeit modest, may encourage increased spending on household goods, as evidenced by the rebound in sentiment around the question ‘is it a good time to buy a household item?’</div>
<div class="column"> </div>
<div class="column">Click here <a href="https://www.propertyobserver.com.au/images/2018/5/23/aussie-finances.jpg" target="_blank">to enlarge.</a>
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<div class="column"><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/2018/5/23/aussie-finances.jpg" alt=""></div>
<div class="column"> </div>
<div class="column"><strong>What do the figures show?</strong></div>
<div class="column"> </div>
<div class="column">Consumer Sentiment</div>
<div class="column"> </div>
<div class="column">The weekly ANZ/Roy Morgan consumer confidence rating rose for the sixth consecutive week, up by 0.7 per cent to a 15- week high of 121.6. Confidence is up by 8.4 per cent over the year and above the average of 113.8 since 2014.
<p><strong>Four of the five components</strong> of the index increased in the latest week:</p>
<p>The estimate of family finances compared with a year ago was up from +7.9 to +10.1;</p>
<p>The estimate of family finances over the next year was up from +27.1 to +27.8;</p>
<p>Economic conditions over the next 12 months was unchanged at +13.2;</p>
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<div class="column">
<p><span>Economic conditions over the next 5 years was </span><span>down </span><span>from +17.5 to +15.3;<br></span></p>
<p><span>The measure of whether it was a good time to buy a major household item was </span><span>up </span><span>from +38.1 to +41.7. </span><span> </span><span>The measure of inflation expectations 2 years ahead rose from 4.1 per cent to 4.2 per cent.</span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/5/23/tax-cuts.jpg" target="_blank">to enlarge.</a></p>
<p><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/2018/5/23/tax-cuts.jpg" alt=""></p>
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<p><strong>What is the importance of the economic data? </strong></p>
<p>The ANZ/Roy Morgan weekly survey of consumer confidence closely tracks the monthly Westpac/Melbourne Institute consumer sentiment index but the former measure is a timelier assessment of consumer attitudes and is now closely tracked by the Reserve Bank.</p>
<p><span>What are the implications for interest rates and investors?</span></p>
<p>Aussies are a resilient bunch. The number of optimists still outweigh the number of pessimists.</p>
<p>Rising petrol prices, anaemic income growth, elevated household debt and a weaker currency are a combined weight on household budgets. However, this is counterbalanced by improving job security, better bonuses and tax relief for some. Households are still spending.</p>
<p>And according to CoreLogic, Aussie home prices held steady last week. Sydney and Melbourne home prices, especially at the top end of the market, continue to decline. But what about the rest of the country?</p>
<p>Prices in Adelaide and Brisbane have risen modestly over the past year. Hobart continues to benefit from its improving economy and better relative affordability.</p>
<p>Perth home prices are declining, but at a slower pace, signalling a potential bottoming. According to the WA Chamber of Commerce, business confidence is the best in seven years. Profits in the mining sector are rising and job ads are increasing.</p>
<p>And when it comes to share markets, so much for the ‘sell in May and go away’ cliché! While some well-known blue chip companies have underperformed recently, savvy Aussie investors have positioned themselves in stocks with specific positive catalysts, paying decent dividend yields. Corporate profits are at record highs and the Aussie economy is improving.</p>
<p>However, broader inflationary pressures remain fairly benign. Therefore, CommSec expects official interest rates to be stable for the foreseeable future.</p>
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<p>Ryan Felsman is a senior economist at CommSec.</p>
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The wealth effect: rising sharemarket, steady home prices and bonuses boost consumer sentiment: CommSec

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<p class="p1"><span class="s1">Brisbane is increasingly in the crosshairs of real estate buyers because of the affordability comparison.</span></p>
<p class="p1"><span class="s1">It’s median house price is almost exactly half that of Sydney’s and so is its median unit price. The comparisons are also highly favourable with Melbourne and Canberra.</span></p>
<p class="p1"><span class="s1">Having cheap real estate on offer is one thing; the key question is whether there are also prospects for growth. That’s why one of Hotspotting’s most popular products is the “Cheapies with Prospects” package – it focuses on areas that offer not only affordability but also potential for growth.</span></p>
<p class="p1"><span class="s1">Brisbane overall hasn’t offered much in the way of capital gains during the period in which Sydney and Melbourne have thrived, largely because the underlying economy has under-achieved.</span></p>
<p class="p1"><span class="s1">But there are mounting signs of improvement, especially in the areas of jobs creation, population growth and revival in the resources sector.</span></p>
<p class="p1"><span class="s1">So where to head for homes at attainable prices and growth drivers? Brisbane offers three standout options, where there is ample supply of houses well below the overall Greater Brisbane median house price around $530,000.</span></p>
<p class="p1"><span class="s1">The cheapest real estate in the Greater Brisbane area is generally found in the Ipswich City LGA in the south-west. Here there are suburbs with median house prices in the $200,000s and the low $300,000s.</span></p>
<p class="p1"><span class="s1">One precinct with appeal is the one that includes Goodna (median house price $325,000) and Redbank Plains ($335,000). These suburbs are at the eastern fringe of the LGA, the part closest to Brisbane – and they abut the motorway and the train line that links to central Brisbane.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">They’re also close to the Springfield master-planned community which has an array of modern facilities, including university campus, hospital and commercial-retail precincts.</span></p>
<p class="p1"><span class="s1">There are numerous big shopping centres and major employment nodes nearby, with the recently-announced $5 billion Defence vehicle contract focused on this precinct as a major new jobs creator.</span></p>
<p class="p1"><span class="s1">So this precinct offers an appealing package: affordability, transport links, shopping and jobs nodes.</span></p>
<p class="p1"><span class="s1">Logan City in the far south of the Greater Brisbane area has plenty to offer as well. Many of its suburbs have median house prices in the $300,000s, including Eagleby ($315,000), Beenleigh ($335,000) and Woodridge ($310,000).</span></p>
<p class="p1"><span class="s1">This LGA has new development areas, where master-planned communities are under way, but these are off the west, whereas the older and cheaper suburbs tend to be clustered around the transport spine created by the Pacific Motorway and the train line, both of which link central Brisbane to the Gold Coast.</span></p>
<p class="p1"><span class="s1">This is also where there is an impressive shopping offering, including major bulky goods retail, and well-established infrastructure like schools and medical facilities (as well as a surprising number of golf courses).</span></p>
<p class="p1"><span class="s1">The third of the “Cheapies with Prospects” areas to note in Greater Brisbane is the Moreton Bay LGA up in the far north heading towards the Sunshine Coast. Like Logan City, this precinct has major road and rail links between the coast and central Brisbane.</span></p>
<p class="p1"><span class="s1">This is the most active market in Greater Brisbane at the moment: Caboolture, Kallangur, Morayfield, Narangba and North Lakes have each recorded over 400 house sales in the past 12 months.</span></p>
<p class="p1"><span class="s1">The first three on that list have median house prices in the $300,000s, as do several other suburbs in the LGA (including some of the bayside areas). North Lakes, a suburb created by an ongoing master-planned community, is more expensive with a median around $500,000, but has brought a heightened level of infrastructure and amenities to the precinct.</span></p>
<p class="p1"><span class="s1">There are emerging signs of price growth in this precinct: the suburbs of Beachmere, Burpengary and Upper Caboolture have had double-digit growth in their median prices in the past year, while others are up 6-7 percent.</span></p>
<p class="p1"><span class="s1">The upmarket end of the Moreton Bay LGA market is the Redcliffe Peninsula – but most of the water-focused suburbs in this precinct have median house prices in the $400,000s, which is still fairly attractive compared to what you’d pay in Sydney and Melbourne.</span></p>
<p class="p1"><span class="s1">And the Peninsula now has rail links to central Brisbane (the new line opened in 2016).</span></p>
<p class="p1"><span class="s1">Many of the suburbs in the three precincts have median rental yields in the 5 to 5.5 percent range, as an additional appeal factor.</span></p>
<p class="p2"> </p>
<p class="p3"><span class="s2">T<em>erry Ryder is the founder of hotspotting.com.au</em></span></p>
<p class="p3"><span class="s3"><a href="https://mailto:ryder@hotspotting.com.au"><em>ryder@hotspotting.com.au</em></a></span></p>
<p class="p4"><span class="s2"><em>twitter.com/hotspotting</em></span></p>
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Top three Brisbane property locations for affordability and growth: Terry Ryder

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<p>The 344-346 Sydney Road, Coburg (pictured below) premises have been leased to Permit Point Building Consultants for use as an administration office.</p>
<p>The 380 square metre building was leased on a 5 + 5-year lease term returning $55,000 per annum equating to $145 per square metre.</p>
<p><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/2018/5/9/3%20Everage%20St.jpg" width="700" height="425"></p>
<p>Craig McKellar of CVA has also just leased retail premises located at 3 Everage Street, Moonee Ponds.</p>
<p>It was leased for $28,800 per annum to a construction company for office administration purposes equating to a building rate of $288 for the 100 square metre premises.</p>
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Sydney Road, Coburg space leased by consultants 

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<p>A Canberra commercial office refurbishment has brought to life a section of a 1960s building.</p>
<p>Property developer ICON Developments, in conjunction with Camlen Property Group, worked with architects peckvonhartel to modernise the property at 10 Hobart Place.</p>
<p>Two of the building’s 10 floors have been transformed into flexible workspaces with an industrial-style aesthetic, including polished concrete floors, exposed ceiling services and glass internal corridor partitioning.</p>
<p>Other additions to the building include new end-of-trip facilities, including showers, lockers and change rooms, as well as bike storage.</p>
<p>The building has a total of 4,500 square metres of lettable area and spaces of from 65 square metres to 530 square metres are immediately available to prospective tenants. Further tenancy options from 180 square metres are also available for lease.</p>
<p>The site is close to the ACT Magistrates and Supreme Courts, The Australian National University (ANU) Action Campus, and Canberra Shopping Centre.</p>
<p>Ashley Murdoch from ICON Development said Canberra’s west precinct of the CBD has undergone recent activity in a bid to revitalise the city and make it a more vibrant and exciting place to work, live and visit, and to continue to attract investment.</p>
<p>“Through this refurbishment, we wanted to stay true to what makes the city unique. Located at the heart of the CBD and surrounded by so much of what gives Canberra its distinct character, the building represents professionalism and style within a corporate business environment,” said Murdoch.</p>
<p>The revitalisation also saw an 80s themed basement bar called ‘88mph’. </p>
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Canberra office undergoes modern refurbishment 

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<p>The billionaire investor Alex Waislitz in considering launching a listed property fund.</p>
<p>It ill be modelled on his investment companies Thorney Opportunities and Thorney Technologies.</p>
<p>Waislitz, who has made his fortune from investing in ASX-listed small and mid cap companies, has shifted his focus to property over the past few years.</p>
<p data-gtm-vis-first-on-screen-7770372_137="6906" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">His private Thorney investment group has lent about $20 million to property developers with plans to lend more than $100 million, potentially through a new listed investment company or an unlisted fund revealed to the <em>Australian Financial Review</em>.</p>
<p data-gtm-vis-first-on-screen-7770372_137="6906" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">Thorney has also partnered in about $1 billion worth of property syndications deals across commercial, residential and industrial deals in the past five years.</p>
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Billionaire Alex Waislitz considers launching a listed property fund

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<p>A multifaceted Hotel Motel in Hay Point with beachfront views has hit the market.</p>
<p>Savills Hotels agents Leon Alaban, Brent McCarthy and Christian Tsailikis are marketing the property in an area where the market is bouncing back due to a resurgence in mining activity.<span class="Apple-converted-space"> </span></p>
<p>The Hay Point Hotel Motel at <a href="https://www.commercialrealestate.com.au/property/1272-hay-point-road-hay-point-qld-4740-2014383310" target="_blank">1272 Hay Point Road</a> has a June 20 auction, with local and interstate investors expected to be interested.</p>
<p>Christian Tsalikis said it was an ideal time to purchase the asset.<span class="Apple-converted-space">   </span></p>
<p class="p1"><span class="s1">“The successful purchaser is presented with an opportunity to acquire the asset at a time where market conditions in the region are continuing to improve," he said.</span></p>
<p class="p1"><span class="s1">“With the local economy primarily underpinned by tourism, agriculture and mining activity, the influx of visitors to the area throughout this period has set the local economy on a steady incline."</span></p>
<p class="p1"><span class="s1">The two hectare ocean front site located around 40 kilometres south of Mackay is minutes from the Dalrymple Bay and the BMA Hay Point coal terminals.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">“The waterfront exposure is arguably the main attraction of the property, and a real investment highlight," Savills agent Leon Alaban said.<span class="Apple-converted-space"><br></span></span></p>
<p class="p1"><span class="s1">“The beachfront location provides patrons, diners, and lodgers with a relaxed and picturesque view."</span></p>
<p class="p1"><span class="s1">The complex features a public bar complete with nine electronic gaming machines (EGM's), a bistro bar and dining room plus alfresco dining space, a commercial kitchen, an additional gaming room with a further 26 EGMs, plus TAB and Keno.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">Hay Point Hotel Motel also has a drive through bottle shop on site.</span></p>
<p class="p1"><span class="s1">The Hotel services the immediate catchment unopposed, being the only general licence venue for around 25 kilometres, according to Brent McCarthy.</span></p>
<p class="p1"><span class="s1"><br></span></p>
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Hotel Motel at Mackay's Hay Point listed through Savills

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<div><span>A solid headline result for employment growth in April 2018, beating expectations of 20,000, with total seasonally adjusted employment up by 22,600 to beyond 12<span>½</span> million for the first time, driven by a substantial 32,700 increase in full time jobs.</span></div>
<div><span> </span></div>
<div>There were, however, adverse revisions to take into account for the preceding month. </div>
<div> </div>
<div>Click here <a href="https://3.bp.blogspot.com/-cSFR5OFaXS8/Wv0rFcRhMQI/AAAAAAAAqFs/ni7qvpHrW1IG6pa-CJ-CqqHyNmyokZuYQCLcBGAs/s640/A1.jpg" target="_blank">to enlarge.</a>
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<div> </div>
<div>Alas, the Coalition's favoured '1000 jobs per month' slogan is going to have to be canned forthwith, with annual employment growth down from a record high of 431,200 in January 2018 to 332,200 (or 2.73 per cent) by April. </div>
<p>Click here <a href="https://2.bp.blogspot.com/-_JFbqwgARDc/Wv0rFQ_Ib9I/AAAAAAAAqFw/Yy8kZrFzvI8ZiFYm7PFFKrAPo0ZGSzJAACLcBGAs/s640/A2.jpg" target="_blank">to enlarge.</a></p>
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<p><br><strong><span style="text-decoration: underline;">State versus state (NSW superboom)</span></strong><br><br></p>
<div>Employment blazed another 27,600 higher in New South Wales to be up by 46,800 over the quarter, and a thunderous 156,000 year-on-year, casting further doubt on the endless gloomy house price predictions, with first homebuyers also now wading in. </div>
<div> </div>
<div>The New South Wales economy has added well over 300,000 extra jobs over the past three years, something achieved for the first time ever on a rolling 3-year basis in the past few months across more than 40 years of available figures. </div>
<p>Click here <a href="https://3.bp.blogspot.com/-hU-FibmfM9o/Wv0rFEzr5GI/AAAAAAAAqFo/YE68F8xEGcMtqe9nrQ6JYlK-D9crzfLkACLcBGAs/s640/A3.jpg" target="_blank">to enlarge.</a> </p>
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<div>One of the extraordinary aspects of this cycle has been the sheer concentration of employment growth.<br><br>Of the suburbs where participation rates have been rising almost all of them are in the inner suburban heart the big capital cities, while more than half of jobs have been created within a tiny 2-kilometre radius of the Sydney and Melbourne CBDs.<br><br>Small wonder the competition for prime location land continues to intensify.<br><br>Queensland's jobs boom seems to have tapered back, with annual employment growth in trend terms now at 3.5 per cent, remaining comfortably in second place only to New South Wales at a supercharged 3.8 per cent. </div>
<div> </div>
<div>Interestingly the trend participation rate hit a record high 65.7 per cent in April driven by female and older workers entering the labour force, with the unemployment rate ticking up a notch to 5.6 per cent. </div>
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<div>Click here <a href="https://4.bp.blogspot.com/-_ANT7qWj-sE/Wv0rGiDqpLI/AAAAAAAAqGM/1wL4OeEc2_Qfu93prKaJ5OTpNvAt7K4WACEwYBhgL/s640/A5.jpg" target="_blank">to enlarge.</a>
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<p>Despite searing annual population growth of 123,100 and 147,400 in the two most populous states respectively, New South Wales has a trend unemployment rate of just 4.9 per cent while Victoria has seen its trend unemployment rate crunched lower to 5.3 per cent, down from 6.1 per cent a year earlier. </p>
<p>Click here <a href="https://4.bp.blogspot.com/--TIYS4_qVXQ/Wv0rGSfiMwI/AAAAAAAAqF0/k_KZjy70WNEuwkE2jt4Cr5UIlwBpR9j8gCLcBGAs/s640/A4.jpg" target="_blank">to enlarge.</a></p>
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<div>Finally, and to finish on a positive note, the trend annual growth in monthly hours worked increased to 3.3 per cent, the highest level since all the way back in August 2010. </div>
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<div>Click here <a href="https://2.bp.blogspot.com/-IGsidl1U7dg/Wv0rHIOpcFI/AAAAAAAAqF8/uoGPI43dbcM5jHX6TIimeuaWZuE3aXDGwCLcBGAs/s640/A6.jpg" target="_blank">to enlarge.</a>
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<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>Overall, these figures would be construed as disappointing if you don't live in New South Wales, where the stamp duty/infrastructure boom is paying some serious dividends. </div>
<div> </div>
<div>Employment growth in recent times has been quite heavily focused in healthcare and construction, which might in part account for why wages growth has generally been tepid across most industries.<br><br>Underutilisation remains elevated, despite a modest improvement. </div>
<div> </div>
<div>Despite the uptick in the unemployment rate policymakers will most likely see enough positives here to stay on the sidelines for the foreseeable future. </div>
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<div>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</div>
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New South Wales, where the stamp duty/infrastructure boom is paying serious dividends: Pete Wargent

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<p>EXPERT OBSERVATION</p>
<p>When we think about infrastructure it’s most often about bridges or roads – or, as in this week’s federal government AU$1.9 billion <a href="https://www.education.gov.au/government-response-2016-national-research-infrastructure-roadmap" target="_blank">National Research Infrastructure announcement</a>, big science projects. These are large assets that can be seen and applied in a tangible way.</p>
<p>It’s not hard to get excited over <a href="https://www.education.gov.au/funded-research-infrastructure-projects" target="_blank">money that will support</a> imaging of the Earth, or the <a href="https://www.ala.org.au/" target="_blank">Atlas of Living Australia</a>.</p>
<p>But important as these projects are, there’s a whole set of infrastructure that rarely gets mentioned or noticed: “soft” infrastructure. These are the services, policies or practices that keep academic research working and, now, open.</p>
<p>Soft infrastructure was not featured in this week’s announcement linked to budget 2018.</p>
<p><strong>Ignored infrastructure</strong></p>
<p>An absence of attention paid to soft infrastructure isn’t just the case in Australia, it’s true globally. This is despite the fact that such infrastructure is core to running the hard infrastructure projects.</p>
<p>For example, the <a href="https://www.openssl.org/" target="_blank">Open SSL software library</a> – which is key to the security of <a href="https://whatis.techtarget.com/definition/OpenSSL" target="_blank">most websites</a> – has just a handful of paid individuals who work on it. It’s supported by fragile <a href="https://www.propertyobserver.com.au/https://figshare.com/articles/Software_in_Research_Underappreciated_and_Underrewarded/5518933/1" target="_blank">finances</a>. That’s a pretty frightening thought. (There’s another issue in that researchers doing this work get no academic credit for their efforts, but that’s a topic for another time.)</p>
<p>There are other high profile, globally used, open science infrastructures that also exist hand to mouth. The <a href="https://doaj.org/" target="_blank">Directory of Open Access journals</a> which began at Lund University relies entirely on voluntary donations from supporting members and on occasional sponsorship.</p>
<p>Similarly, <a href="http://www.sherpa.ac.uk/romeo/index.php" target="_blank">Sherpa Romeo</a> – the open database of publishers’ policies on copyright and self-archiving – came out of projects at Nottingham and Loughborough Universities in the UK.</p>
<p>In some ways these projects’ high visibility is part of their problem. It’s assumed that they are already funded, so no-one takes responsibility for funding them themselves – the dilemma of collective action.</p>
<p><strong><span style="font-family: Arial, Helvetica, sans-serif; font-size: 14px;">Supporting open science</span></strong></p>
<p>Other even more nebulous types of soft infrastructure include the development and oversight of standards that support open science. One example of this is the need to ensure that the metadata (the essential descriptors that tell you for example where a sample that’s collected for research came from and when, or how it relates to a wider research project or publication) are consistent. Without consistency of metadata, searching for research, making it openly available or linking it together is much less efficient, if not impossible.</p>
<p>Of course there are practices in place at individual institutions as well as national organisations. The soon-to-be-combined organisations -Australian National Data Service, the National eResearch Collaboration Tools and Resources project and Research Data Services (<a href="https://www.ands-nectar-rds.org.au/" target="_blank">ANDS-Nectar-RDS</a>) - are supported by national infrastructure funding. These provide support for data-heavy research (including for example the adoption of <a href="https://www.force11.org/group/fairgroup/fairprinciples" target="_blank">FAIR</a> - Findable, Accessible, Interoperable and Reusable standards for data).</p>
<p>But without coherent national funding and coordination, specifically for open science initiatives, we won’t get full value from the physical infrastructure just funded.</p>
<p><strong>What we need</strong></p>
<p>What’s needed now? First, a specific recognition of the need for cash to support this open, soft infrastructure. There are a couple of models for this.</p>
<p>In an article last year it was suggested that libraries (but this could equally be funders – public or philanthropic) should be committing around <a href="http://intheopen.net/2017/09/join-the-movement-the-2-5-commitment/" target="_blank">2.5% of their budget</a> to support open initiatives. There are some international initiatives that are developing specific funding models - <a href="http://scoss.org/" target="_blank">SCOSS</a> for Open Science Services and <a href="https://www.numfocus.org" target="_blank">NumFocus</a> for software.</p>
<p>But funding on its own is not enough: we need a coordinated national approach to open scholarship – making research available for all to access through structures and tools that are themselves open and not proprietary.</p>
<p>Though there are groups that are actively pushing forward initiatives on open scholarship in Australia – such as the <a href="https://aoasg.org.au/" target="_blank">Australasian Open Access Strategy Group</a>, the <a href="http://www.caul.edu.au/" target="_blank">Council of Australian University Librarians</a>, and the <a href="https://acola.org.au/" target="_blank">Learned Academies</a> as well as the <a href="http://www.arc.gov.au/arc-open-access-policy" target="_blank">ARC</a> and <a href="https://www.nhmrc.gov.au/grants-funding/policy/nhmrc-open-access-policy" target="_blank">NHMRC</a> who have open access policies - there is no one organisation with the responsibility to drive change across the sector. The end result is inadequate key infrastructure - for example, for interoperability between research output repositories.</p>
<p>We also need coherent policy. The government recognised a need for national and states policies on open access in its response to the <a href="https://www.communications.gov.au/departmental-news/government-response-productivity-commissions-intellectual-property-report" target="_blank">2016 Productivity Commission Inquiry on Intellectual Property</a>, but as yet no policy has appeared.</p>
<p>It’s reasonable to ask whether in the absence of a national body that’s responsible for developing and implementing an overall approach, what the success of a policy on its own would be. Again, there are international models that could be used.</p>
<p>Sweden has a Government Directive on Open Access, and a <a href="http://www.kb.se/dokument/open%20access/OpenAccess_National_Library_Sweden_2017_2019.pdf" target="_blank">National Body for Coordinating Open Access</a> chaired by the Vice-chancellor of Stockholm University.</p>
<p>The Netherlands has a <a href="https://www.neth-er.eu/en/news/Netherlands-Publishes-National-Plan-Open-Science" target="_blank">National Plan for Open Science</a> with wide engagement, supported by the Ministry of Education, Culture and Science. In that country, the Secretary of State, Sander Dekker, has been a key champion.</p>
<p>The EU has had a long commitment to open science, underscored recently by the appointment of a high-level envoy with specific responsibility for open science, <a href="https://horizon-magazine.eu/article/open-access-scientific-publications-must-become-reality-2020-robert-jan-smits_en" target="_blank">Robert-Jan Smits</a>.</p>
<p><strong>Private interests might take over</strong></p>
<p>Here’s the bottom line: national coordinated support for the soft infrastructure that supports open science (and thus the big tangible infrastructure projects announced) is not just a “nice to have”.</p>
<p>One way or another, this soft infrastructure will get built and adopted. If it’s not done in the national interest, for-profit companies will step into the vacuum.</p>
<p>We risk replicating the same issues we have now in academic publishing - which is in the hands of multi-billion dollar companies that report to their shareholders, not the public. It’s clear how well that is <a href="https://theconversation.com/publisher-pushback-puts-open-access-in-peril-42050" target="_blank">turning out</a> – publishers and universities globally are in <a href="https://sparcopen.org/our-work/big-deal-cancellation-tracking/" target="_blank">stand offs</a> over the cost of publishing services, which continue to rise inexorably, year on year.</p>
<p><em><strong>Virginia Barbour<a href="https://theconversation.com/profiles/virginia-barbour-170992" target="_blank"></a></strong>, Director, Australasian Open Access Strategy Group, <a href="http://theconversation.com/institutions/queensland-university-of-technology-847" target="_blank">Queensland University of Technology</a></em></p>
<p><em>This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/what-was-missing-in-australias-1-9-billion-infrastructure-announcement-96723" target="_blank">original article</a>.</em></p>
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