<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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

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

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The conversations we had with friends and family over the Easter break will shape the future of this year's residential market.
Pauses in the calendar - and our busy lives - always facilitate a review in our collective thinking.
Sometimes it is quite a marked shift, when we come back keen to buy, but other times the mood turns sombre.
It's the same with the Christmas holidays too.
It is not just these conversations that affect the market.
The calendar dictates, in many suburbs, just when sellers list and buyers buy.
Late spring is always saturated with listings, often so overwhelming the auction clearance rate stumbles into a very weak year close.
Mid-year school holidays and public holidays tend to be times when agents shy away from auctions, reasoning that buyers will be doing other things.
The early Easter break, with school holidays from mid-April, means market momentum won't really emerge until May.
Winter then approaches with many of the mindset that the colder months aren’t a great time to list.
The June long weekend traditionally marks when listings fall.
Many high end estate agents head off overseas for maybe July or August.
But some take a different approach.
"It’s true that there are often fewer people out and about in winter, but the ones who are looking tend to be genuine buyers," Ben Collier at The Agency reckons.
"When this combines with a lower number of listings, it means that the middle of the year can be a great time to sell."
This year kicked off with a slow, but positive start, for early birds after the Christmas break, but the Easter conversations would have noted recent strong listing numbers affecting price growth potential.
While it is good to guage the market mood and timing, it's important not necessarily to always follow the pack.
Indeed property investment is too driven by the herd mentality - and not enough about counter cyclical investing.
The herd mentality is where we are influenced by peers to adopt certain behaviours similar to others. It can be seen in our thinking to the stock market, nationalism and even home décor.
Of course the average home seller does not have the time to follow all the ebbs and flows of their property market.
With a family, full-time job, the footy tips and other priorities, the extent of property market research conducted by even fairly informed sellers or buyers amounts to little.
This leaves markets vulnerable to the herd mentality which as then Reserve Bank governor Glenn Stevens noted in 2015 meant some Sydney house prices were “crazy”.
Thankfully the current market sentiment has shifted away from over exuberance with price growth inevitably weakening. 
The new group mentality may very well save us all from the cliff.
This article first appeared in The Daily Telegraph. 
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jchancellor-FAypfDUnLy

Holiday breaks a good chance to reset the property mood of the market

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Major projects are in the planning pipeline for Darwin and the Northern Territory and Darwin’s real estate market desperately needs some of them to proceed.
The local economy lacks activity, jobs creation and population growth – and, as a consequence, property market statistics remain highly negative. 
The regular data on prices and rents continue to show the Darwin market in reverse. Unit prices in Darwin, for example, are down 10.6% (CoreLogic) or 11.7% (SQM Research) in annual terms. The trends also remain negative for house prices and rentals.
Unlike the other downturn capital city, Perth, there are as yet no signs of recovery for Darwin.
The Darwin market downturn has coincided with the end of the resources investment boom and the consequent decline in the Northern Territory economy. As a result, jobs creation and population growth has suffered.
This inevitably has fed through to Darwin real estate, with sales activity falling away dramatically. In Darwin City, residential sales totalled between 435 and 565 in every quarter of 2014 and 2015. But in 2017, quarterly sales been regularly below 330. 
In the apartment market, the rate of sale in 2014 and 2015 was well over 200 sales per quarter, but in 2017 the average was less than 150 per quarter.
The slump has been even more dramatic in the Palmerston LGA adjoining Darwin City. Residential sales totalled over 1,200 in 2014 and 1,100 in 2015, but below 500 in 2017. 
Given that Palmerston is where most of the new residential suburbs have been emerging, these figures illustrate the slump in buyer demand for new homes in the Darwin market.
This has pushed down prices markedly. Virtually every suburb in the Darwin metropolitan area has recorded price decline in the past quarter, the past year and the past three years. 
Most suburbs in the Darwin region have house price levels lower than five years ago.
Examples include the suburb of Alawa, where the median house price has dropped 9% in the latest quarter, 10% in the past year and 22% in the past three years. Its median house price is now $465,000.
In Karama, the median price has dropped 6% in the past quarter, 11% in the past year and 22% in the past three years, and is now $430,000. The Moulden median house price is down 2% (quarter), 11% (12 months) and 20% (three years) to reach $310,000.
There are similarly negative results in the apartment market.
There are two exceptions to this story of decline: the upmarket suburbs of Nightcliff (median house price $770,000) and Rapid Creek ($720,000) have each recorded growth in the past quarter, year and three years - and, unlike most Darwin suburbs, have median prices higher than five years ago.
Significantly, Nightcliff and Rapid Creek show up in Hotspotting’s quarterly surveys of sales activity as suburbs with fairly consistent sales performance. This is in contrast to our overall findings, where most suburbs are classified as danger markets (which means sales activity has dropped markedly and remain well below the peak levels). 
Beyond the Darwin metropolitan area, Alice Springs continues to be the strongest market in the Territory, based on the consistency of its sales performance. It has recorded between 100 and 130 dwelling sales in most of the past 12 quarters - and lately has shown an upward trend.
The Alice house market was at its strongest in 2015 and now quarterly sales (rising from 62 to 73 to 77 to 88 house sales in the past four quarters) are approaching those levels again.
As a result, and in sharp contrast to Darwin, most suburbs in Alice Springs have shown solid growth in median house prices. Braitling, East Side, Larapinta and Gillen have all recorded growth in the past quarter, year and three years.  
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

Darwin sales falling away dramatically

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GUEST OBSERVER
Ten years ago the Australian government launched a National Partnership Agreement on Homelessness (NPAH). It injected A$800 million into homelessness services and A$300 million to build 600 new homes for people experiencing homelessness. It was later announced that another A$400 million would be available under the National Affordable Housing Agreement (NAHA) to build new housing and supported accommodation for the homeless. Total recurrent expenditure (at 2016-17 prices) on homelessness services has increased by 28.8%, from A$634.2 million in 2012-13 to A$817.4 million in 2016-17.
But despite this, the number of people experiencing homelessness and the rate of homelessness have both increased. Our research points to problems in the public housing system as one of the more important causes of these increases.
According to census figures released on Wednesday by the Australian Bureau of Statistics (ABS), the number of homeless people in Australia has risen by 14% to 116,427. The rate of homelessness has increased from 47.6 people per 10,000 of the population in 2011, to 49.8 per 10,000 now. (The ABS defines homelessness here.)
There is some good news: the numbers of Indigenous homeless and homeless children and youth (aged 12-18) have declined by 26%, 11% and 7% respectively since 2011. But on the downside, increases are particularly pronounced in New South Wales (where the homelessness rate rose by 27% and among people aged over 65 (by just over 30%) and overseas-born migrants (by 40%).
Why are we still going backwards?
Changes in Australian housing and welfare systems and wider social and economic developments appear to have more than offset any benefits from the NPAH and NAHA. Our research sheds some light on the role played by Australia’s housing system. Using the internationally recognised and unique Journeys Home longitudinal survey, we find that public housing is the most important factor in preventing homelessness among vulnerable people.
Public housing is particularly effective because it is affordable. It has also traditionally offered a long-term refuge for precariously housed people. This is because public housing leases provide the benefits of security of tenure commonly associated with home ownership.
It is perhaps no accident that NSW was one of the first states to introduce fixed-term tenancies in public housing. This eroded one of the major attributes of tenure, in a state that has seen relatively large increases in homelessness numbers.
The empirical evidence also suggests that community housing fails to provide the same protection for people at risk of homelessness. While community housing is affordable, the security of tenure is weaker, which may explain these findings.
Despite such evidence, the stock of public housing continued to decline between the 2011 and 2016 censuses. State government-initiated transfers of stock to the community housing sector accelerated this trend. In 2013 Australia had a public housing stock of 325,226 dwellings. This declined by 3.2% to 314,864 usable dwellings in 2017.
Where are the additional homeless coming from?
One of the more alarming changes is a sharp increase in the number of homeless people over 65. This partly reflects Australia’s ageing population. However, the increase is such that the elderly’s share of the total homelessness count has also risen.
Furthermore, our research suggests that this trend could become protracted. This is because the homeless elderly have much less chance of escaping into formal housing than younger people experiencing homelessness. We have little understanding of the reasons for this, but gaps in service provision to the aged could be partly responsible.
The other group who feature prominently among the homeless are overseas migrants. They now make up 46% of the homeless, despite representing just 28% of the Australian population. The number of homeless overseas-born migrants has soared by 40% since the 2011 Census, from 38,085 to 53,606 people.
It turns out that homeless overseas-born migrants are concentrated among those living in severely overcrowded dwellings – a little over half of those living in these conditions were born overseas. We know little about these homeless people. Discrimination could be a factor, though some characterise this group as students living in group households who should not be considered homeless. But this is speculation and further study is certainly required.
In view of the latest census results, it is clear to us that governments need to reassess their approach to what is turning into an intractable social problem.
We do not deny that situational factors, such as drug abuse, domestic violence and so forth, are important here. But equally, there is strong evidence that structural problems in our housing market are a significant cause of growth in the numbers of homeless people.
<img src="https://counter.theconversation.com/content/93417/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Until these problems are resolved, service provision and support will remain a band-aid masking deeper social and housing system issues.
Gavin Wood, Emeritus Professor of Housing and Housing Studies, RMIT University
Guy Johnson, Professor, Urban Housing and Homelessness, RMIT University
Juliet Watson, Lecturer, Urban Housing and Homelessness, RMIT University
Rosanna Scutella, Senior Research Fellow, Centre for Applied Social Research, RMIT University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/homeless-numbers-will-keep-rising-until-governments-change-course-on-housing-93417" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Homeless numbers will keep rising until governments change course on housing

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EXPERT OBSERVATION
There's so much more commentary around than there used to be that I should probably direct a bit more attention to trying to blog about things that don't get a whole lot of coverage elsewhere.
Here are a four things that sprang to mind last week. 
Narrative change
Firstly, it looks to be as though household debt might feasibly peak at around 1.9x annual household disposable income. 
It was a front page splash a little while back when UBS reported that Australia's household debt to disposable income ratio was shockingly high at 2x and projected that it would balloon all the way out to 2.05x.
Then again it seems almost everything UBS reports about Australian housing is front page news these days.
In the event it turned out that not only was this not to be the case, the actual ratio was in fact just 1.88x.
The Australian Bureau of Statistics (ABS) confirmed a misaollocation of household debt in its data, which in turns flows through to the derived ratios. 
Interest-only mortgage lending also really began to plummet in the September 2017 quarter and continued to do so thereafter, so in my best estimates the debt ratio won't get anywhere near 2x. 
You'd think this might get a bit more airtime than it has after all the preceding hullabaloo, but debt being revised lower isn't much of an attention-grabbing headline. 
<a href="https://3.bp.blogspot.com/-Tw2MA69_Ygc/WsIXCBirZ0I/AAAAAAAApOY/T9fT3kwqhy4Rj4eLSMklIbNELYHVz-hiwCLcBGAs/s1600/HW4.jpg"><img src="https://3.bp.blogspot.com/-Tw2MA69_Ygc/WsIXCBirZ0I/AAAAAAAApOY/T9fT3kwqhy4Rj4eLSMklIbNELYHVz-hiwCLcBGAs/s640/HW4.jpg" width="640" height="404" data-original-height="831" data-original-width="1316"></a>
Secondly, last week the ABS reported its Household Finance &amp; Wealth statistics for the December 2017 quarter, which showed household wealth soaring to $10.2 trillion (this did get some great coverage from Commsec, with its outstanding daily analysis as always). 
<a href="https://3.bp.blogspot.com/-dRYJJnwyNVs/WsIPr4m0F8I/AAAAAAAApN0/Z-vC01Eda78oiEvfhIZ41wCMmPgav0f_ACLcBGAs/s1600/HW2.jpg"><img src="https://3.bp.blogspot.com/-dRYJJnwyNVs/WsIPr4m0F8I/AAAAAAAApN0/Z-vC01Eda78oiEvfhIZ41wCMmPgav0f_ACLcBGAs/s640/HW2.jpg" width="640" height="388" data-original-height="818" data-original-width="1348"></a>
This put Australia's estimated average net worth per capita at more than $411,000, representing a new high with average wealth up by about $16,000 in 2017, though global stock markets perhaps look set to take a hit in early 2018. 
Many commentators believe Australia is lacking in potential drivers of growth, yet we're sitting on a greater average household wealth than any other country in the world bar Switzerland, so a few tweaks on the right policy levers could potentially unlock plenty of consumption. 
<a href="https://4.bp.blogspot.com/-tpGxTSHm-Eo/WsIPr2Lvh2I/AAAAAAAApNw/g6-EKwlRy78Klopxagazv0ALnfkmeTc9gCLcBGAs/s1600/HW3.jpg"><img src="https://4.bp.blogspot.com/-tpGxTSHm-Eo/WsIPr2Lvh2I/AAAAAAAApNw/g6-EKwlRy78Klopxagazv0ALnfkmeTc9gCLcBGAs/s640/HW3.jpg" width="640" height="386" data-original-height="830" data-original-width="1370"></a>
Debt now being repaid
Through 2017 there was a huge shift in interest-only lending from 37.5% of new housing loans at the end of 2016 to just 15.2% by the final quarter of 2017. 
While you have to make a few assumptions to work out exactly what might happen next, it seems quite possible that the household debt ratio could soon begin to fall, from the already-revised lower level. 
A recent stock market release from the Commonwealth Bank of Australia (ASX: CBA) noted that more than a quarter of its interest-only loans will roll off this year, with some existing borrowers voluntarily opting to switch to principal and interest mortgages for the cheaper rates. 
Thirdly, then, while there has been a lot of focus on BBSW rates this week, partly of a result of switching to cheaper mortgage rates the derived household interest payable to income ratio was actually lower than a year earlier by the end of 2017 at just 10.2%. 
<a href="https://3.bp.blogspot.com/-fKWVWJnwm4M/WsIPrxlvEmI/AAAAAAAApNs/FTRSLbDXC_AB6QvMXO_oDSzrklTIcYu4gCLcBGAs/s1600/HW1.jpg"><img src="https://3.bp.blogspot.com/-fKWVWJnwm4M/WsIPrxlvEmI/AAAAAAAApNs/FTRSLbDXC_AB6QvMXO_oDSzrklTIcYu4gCLcBGAs/s640/HW1.jpg" width="640" height="388" data-original-height="834" data-original-width="1370"></a>&lt;
Another factor which might help to push the household debt to income ratio lower by the end of this year is that average earnings are now <a href="http://petewargent.blogspot.com.au/2018/02/best-earnings-growth-since-2014-led-by" target="_blank">rising again at the fastest pace since 2014</a>.
Greater Sydney, which now has an <a href="http://petewargent.blogspot.com.au/2018/03/sydney-unemployment-rate-continues-to" target="_blank">annual average unemployment rate of just 4.5%</a>, is leading the way in terms of the earnings recovery. 
The cost of living has an impact on the ability of households to pay down debt and consume, of course, but today's monthly inflation gauge recorded a very modest +0.1% increase, and that followed a -0.1% decrease in the preceding month. 
There's been plenty of talk about rising living costs as a result of supply shocks, but as more households shift their focus to paying down debt it seems mighty hard to visualise core inflation getting anywhere near to the top of the target 2-3% band over the next few years.
In any event, if the money supply is any worthwhile precursor at all to inflationary pressures, the growth in M3 hit its lowest levels in a quarter of a century at the last count. 
<a href="https://4.bp.blogspot.com/-mDTqh8AN0Y8/WsIcRA6AoaI/AAAAAAAApOo/PRn-x-w4K-QxTi-cPnvwB0YeADHonNfJgCLcBGAs/s1600/HW5.jpg"><img src="https://4.bp.blogspot.com/-mDTqh8AN0Y8/WsIcRA6AoaI/AAAAAAAApOo/PRn-x-w4K-QxTi-cPnvwB0YeADHonNfJgCLcBGAs/s640/HW5.jpg" width="640" height="388" data-original-height="832" data-original-width="1371"></a>
Another factor which might help to push the household debt to income ratio lower by the end of this year is that average earnings are now <a href="http://petewargent.blogspot.com.au/2018/02/best-earnings-growth-since-2014-led-by" target="_blank">rising again at the fastest pace since 2014</a>.
Greater Sydney, which now has an <a href="http://petewargent.blogspot.com.au/2018/03/sydney-unemployment-rate-continues-to" target="_blank">annual average unemployment rate of just 4.5%</a>, is leading the way in terms of the earnings recovery. 
The cost of living has an impact on the ability of households to pay down debt and consume, of course, but today's monthly inflation gauge recorded a very modest +0.1% increase, and that followed a -0.1% decrease in the preceding month. 
There's been plenty of talk about rising living costs as a result of supply shocks, but as more households shift their focus to paying down debt it seems mighty hard to visualise core inflation getting anywhere near to the top of the target 2-3% band over the next few years.
In any event, if the money supply is any worthwhile precursor at all to inflationary pressures, the growth in M3 hit its lowest levels in a quarter of a century at the last count. 
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The narrative around household debt is changing: Pete Wargent

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As expected, the Reserve Bank Board decided to leave the cash rate unchanged at 1.5%.
While we expected that result, we were not expecting any significant surprises in the Governor’s Statement.
We were wrong.
Readers will be aware that Westpac has been consistently critical of the RBA’s GDP growth forecasts for 2018 and 2019 of 3 ¼ per cent in both years.
We have consistently argued that the number will be more in line with 2.5%. In all recent statements, the Governor has noted “the Bank’s central forecast for the Australian economy is for GDP growth to pick up to average a bit over 3% over the next couple of years”. This is confirmed in the official forecasts from the February Statement on Monetary Policy of 3 ¼ per cent in 2018 and 2019.
In today’s statement, he notes “the Bank’s central forecast is for the Australian economy to grow faster in 2018 than it did in 2017”. Tomorrow, with the release of the December quarter national accounts,  the measure of GDP growth in 2017 will print. Consensus  expects  growth of 2.5%. Westpac expects 2.4%. On the reasonable assumption that the RBA has a similar estimate (forecast in February SoMP was 2.5%), the above statement can be interpreted as the Bank now feeling comfortable with growth being above 2.5%, which is a major qualification of the Bank’s previous growth outlook.
This change does not seem to be indicated by a change in rhetoric around the economy. Indeed, the Governor points out that growth in exports “is expected to recover from the temporary weakness at the end of 2017”. Arguably, we could interpret this observation as attributing the lift in growth in 2018 mainly to a pick-up in exports. While the Reserve Bank does not supply independent estimates of its forecasts for household consumption, we have always presumed that it is more optimistic for household spending in 2018 than in 2017.
Certainly, Treasury’s forecasts indicate an expected boost to consumer spending in 2018. The RBA continues to highlight the outlook for household consumption as a “continuing source of uncertainty”.
While this change in the attitude to growth appears to be somewhat more dovish, the Bank does show some more confidence about wages. The Governor points out that “the rate of wage growth appears to have troughed”. This is an upgrade from the wages commentary in previous statements. The facts are of course that annual wages growth lifted in the December quarter from 2.0% in the September quarter to 2.1%, also consistent with the Governor’s comment, “wage growth remains low”.
The commentary around housing has also changed somewhat. The two major markets, Sydney and Melbourne, are now singled out and described as “have slowed”.
There is no change in the commentary around inflation (“likely to remain low for some time”); the Australian dollar (“remains within the range it has been in over the past two years”); employment (“forward looking indicators continue to point to solid growth”); Terms of Trade (“expected to decline over the next few years”); and the global economy (“has strengthened over the past year”).
The recent volatility in the share market is recognised, although no implications for markets or the global economy are drawn.
Conclusion
The Reserve Bank appears to be less confident about the growth outlook. Nevertheless, we still believe that it expects to be raising interest rates beginning sometime in late 2018 and into 2019. That would be in line with current market pricing.
In contrast, Westpac is not surprised to see the Bank more cautious on the growth outlook and we continue to expect that the cash rate will remain on hold in 2018 and 2019.
BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Reserve Bank stays on hold: Implies a more cautious assessment of the growth outlook

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Sydney Olympic Park Authority has opened a tender for the leasing of The Lodge at Sydney Olympic Park.
Located within the heritage-listed Newington Armory, The Lodge features:
<ul>
<li>Four separate accommodation buildings equipped to accommodate 160 beds – each with its own meeting room, kitchen and amenities</li>
<li>A large dining hall and recreation area</li>
<li>An administration building with main accommodation amenities and staff sleeping areas</li>
</ul>
The open tender seeks a tenant to occupy the premises for a maximum of five years.
The Lodge has primarily provided low-cost, accommodation services; particularly well used by school groups, sporting teams, music and creative arts groups as well as other visitors.
Although its current permitted use is for short-term accommodation, Sydney Olympic Park Authority is now open to considering other permissible uses for The Lodge.
Charles Moore, CEO of Sydney Olympic Park Authority, said the Lodge is the sole accommodation offering at the 52-hectare Newington Armory.
“We would like to see Newington Armory become a thriving cultural and recreational hub for greater Sydney.” 
Newington Armory is a riverside landscape of rolling hills, woodlands and 100 heritage buildings which date back to the 1800s.
The area provides a cultural, recreational and arts program featuring a variety of leisure tours and activities such as dis golf, bicycle and Segway hire, Heritage Train Discovery Tour, temporary public art, visual arts exhibitions, digital filmmaking and creative writing for all ages, as well as home to the Judo NSW Training Facility.
The open tender closes on 1 May 2018.
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The Lodge at Sydney Olympic Park opened for tender

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The diversified property group, Pellicano, has sold the final lot at its 74 hectare masterplanned Innovation Park estate in Dandenong South.
It went for for 72% more than comparable lots in 2012.
At $290 per square metre for the 14,940 square metre site, the final sale to a private investor totalled over $4.3 million.
Over the past six years and across four stages, 61 lots have been sold at Innovation Park for upwards of $68 million.
The sale represented the last sale of public land with Pellicano and its JV partner, ISTP, instead now turning attention to the 26 hectare of land reserved exclusively for pre-commitments and speculative developments.
“The 72% increase between the approximate price per square metre in 2012 and 2017 is demonstrative of the growing demand for industrial lots in Victoria. In particular, the appetite for industrial land in the south east has consistently driven prices up,” managing director Renato Pellicano said.
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Pellicano sells final lots at Dandenong South masterplanned Innovation Park

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EG, the real estate fund manager, has settled on another Canberra asset for their High Income Sustainable Office Trust (HISOT).
It cost $15.6 million for the property set a kilometre from Parliament House, on a prominent corner site in Barton, ACT. 
The 4,054 square metre building has a current NABERS rating of 3.0 with a vacancy rate of 38%. 
The Australian Medical Association will be remaining on site as the primary tenant.  
“EG will deliver a repositioned, sustainable building in the heart of Canberra’s most attractive office markets,” said Michael Noblet Associate Director, Capital Transactions.
“We are targeting to improve the NABERS rating to 4.5 stars or higher through operational improvements and an active capital works program.” 
EG has already planned to align themselves with technology partners to improve energy efficiencies in the building, in line with the HISOT mandate. 
Key investors in the fund include Uniting Financial Services and the Clean Energy Finance Corporation.  
CEFC Investment Funds Lead Rory Lonergan said through upgrading the 30-year-old building, EG will demonstrate how underperformers can be reinvigorated to provide dynamic workspaces that are valued by tenants because they are equipped to handle the demands of a clean energy economy.
The vendor was the Australian Medical Association and the sale was brokered by Tim Mutton of Colliers International.  
Earlier this year, EG settled on the $15.4 million East Block asset in Canberra’s Parliamentary Triangle, which was the first asset in the HISOT fund. 
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EG settles on $15.6 million Canberra property

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The Crone architectural firm recently completed a striking new Melbourne headquarters for the Australian Nursing &amp; Midwifery Federation (ANMF). 
Located between the CBD and major universities, the 10-storey building at 535 Elizabeth Street is a contemporary addition to Melbourne’s educational precinct, designed to house the member-based organisation that represents nurses, midwives and carers and provides access to industrial, professional and legal representation, education and training facilities. 
Kieran Gleeson, Crone director and Melbourne principal said in a nod to Melbourne’s laneway culture, Crone created an internal ‘street’ through the building to provide a pedestrian thoroughfare between Elizabeth and O’Connell Streets.
The podium facade then wraps around into this internal laneway, continuing the external materiality indoors and blurring the lines between internal and external streetscapes. 
The interior is divided into three distinct areas – conference, education and workplace – with spaces designed to be flexible, changing from social spaces into informal teaching spaces with operable walls and divisible boardrooms.
At the centre of the building is a four-storey void with a dramatic staircase providing a sculptural link from the ground up through to the education levels. 
On ground level, there is a dramatic 400-seat auditorium is highly visible to visitors as they enter the building, featuring faceted timber walls and ceiling that draws the eye towards the central retractable screen and stage while providing a high level of acoustic performance. 
Lisa Fitzpatrick, ANMF (Victorian Branch) secretary, said there were more than 80,000 ANMF members.
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Crone Architects complete ANMF’s new Melbourne headquarters

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Brisbane Cushman &amp; Wakefield has announced the combined $24,075,000 sale of four childcare centres in Queensland, to Sydney, Melbourne and Brisbane based investors.
The sites, owned by a local childcare centre developer and operator all achieved record sale prices and yields, representing strong investor interest in some of the first modern large format centres to be sold in Queensland. 
The 28 Dixon Drive, Pimpama, Gold Coast centre sold for $6.2 million to a Sydney based high net worth family investor, representing a 6.12% yield.
The 5,950 square metre land area located on the Gold Coast is leased by the national centre operator, Petit Early Learning Journey, under a newly signed 15 year lease, plus a 9 year lease to Rackley’s Swim School – collectively generating a net income of $380,000 per annum.
The 38 Wellington Street, Wooloowin, Brisbane property located sold for $6.015 million to a Melbourne based listed property trust.
Sold on a 6.65% yield, the 2,539 square metre property has a new 15 year lease in place with national childcare operator, Petit Early Learning Journey.
The 536 Logan Road, Greenslopes, Queensland centre was sold for a near record $6 million to a high net worth private investor, representing a 6% yield.
The 2,434 square metre site is operated by an independent childcare provider, Harmony Early Learning Journey, under a newly signed 15 year lease.
The 146-148 West Burleigh Road, Burleigh Heads, property was marketed as a ‘state of the art’ 3-level childcare centre which sold for $5.86 million on a 5.8% yield with a new 20 year lease in place.
The 1,067 square metre site is adjacent to Stockland Shopping Centre anchored by Woolworths and Aldi, and situated 2 kilometres from other retail outlets and the James Street precinct. The centre is currently operated by Petit Early Learning Journey.
According to Cushman &amp; Wakefield research, the market for childcare centres in Queensland remains well supported by underlying fundamentals, as government subsidies are expected to extend from a total of $7.2 billion in FY17 to over $10 billion in 2021.
Cushman &amp; Wakefield completed the above transactions over the course of the second half of 2017.
<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/2018/3/29/28%20Dixon%20Drive%20Pimpama%2002.jpg" alt="">
Mitchell Willet said these were four of the largest centres sold in Queensland to date, with the Pimpama site setting a new record for the highest quantum dollar paid for a freestanding centre in Queensland.
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