Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

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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It is becoming more common for generation Y to move to inner city or CBD areas and purchase properties using their family’s home equity, according to founder of Sydney-based Dream Design Do, buyer's agent Zaki Ameer.
“Upon finishing their studies, young adults find that their place of employment is located in the CBD, as well as all the amenities they want to access, such as nightlife, entertainment, and retail offerings,” says Ameer.
“In Sydney, these locations are typically the eastern suburbs and the inner city, and in Brisbane its Newstead and Fortitude Valley.”
“Property is priced way outside of capabilities of the salary of a career starter, so purchasing a property in the desired location of these Gen Y’s is impossible.”
This is forcing young people to draw on their family home equity which is becoming one of the easiest pathways for young people to tap into the property market, said Ameer.
“In many cases, the family home is already paid for, which creates substantial security when applying for the loan”.
“Provided the youngster is gainfully employed, purchasing in the area where it’s all happening is right within his/her foreseeable future.”
According to Ameer this option was not possible for past generations. The parents of today are likely to work longer and are not keen on downsizing or moving to a retirement complex for some years.
“Their parents do not see themselves as old, and therefore are in no hurry to sell the family home. They don’t want to live among retired people or senior citizens, and more than likely are perfectly happy in the family home surrounded by families and young people.”
Ameer said parents could use their children’s move to the city as an investment opportunity.
However, if parents aren’t in a position to draw down on their equity another option is renting which Ameer says is costly but manageable.
If renting is also too expensive and they are still keen to enter the property market, they may purchase a property in a cheaper area, and then work on building equity on that property so that they can buy in their target area in the future.
According to Ameer, another option is taking up employment in a different city where property and living cost is cheaper.
“In their 20s, they probably do not have a lot of personal responsibilities, and are more easily able to relocate,” he said.
“They will see it as an adventure; to work and live in another state than where they grew up, and also often take the opportunity to establish themselves when they are there, by purchasing property that is now affordable for them.”
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owisniewski-RiYLqnXfKH

Young buyers leveraging family home equity to afford inner city purchases: Buyer's agent

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As the weather heats up, open fireplaces begin to seem a lot less charming.
As does the local public pool, where the overpriced ice creams can't quite make up for poorly ventilated change rooms, other people's screaming kids and mystery floating band aids.
Suddenly, home pools have a lot of appeal. Here are our top five, all currently on the market.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-vic-maribyrnong-118218163" target="_blank">24 Skyline Drive, Maribyrnong, Vic</a>
<img src="/images/2014/12/05/maribynong-dec-5-one.jpg" alt=""> This award winning pool runs along the third level of a home designed by owner architect Ferras Raffoul of FGR Architects. The suspended concrete 15 metre lap pool has acrylic walls on three sides, turning it into an aesthetic feature visible from the top-floor living, dining and kitchen area and the front and rear of the house. From the rooftop pool, swimmers have city views.
The vendor is seeking offers over $2.5 million.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-toorak-116759895" target="_blank">23 Power Avenue, Toorak, Vic</a> 
 <img src="/images/2014/12/05/2.jpg" alt="">
A far cry from its brutalist cousin in Maribyrnong, this tiled lap pool is bordered by flowers, a tennis court and a sunny paved area. The infinity pool shares a 1,600 square metre Toorak plot with a five bedroom 1930s Arnaud Wright Regency house. There is also a separate outdoor spa and two pergolas – one with electric blinds, and the other with in-built heating.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-darling+point-118504959" target="_blank">21 Eastbourne Road, Darling Point, NSW</a>
<img src="/images/2014/12/05/3.jpg" alt="">
Part of a "dedicated resort area", this pool is accompanied by a separate kitchen, men and women's changing rooms, a steam room and a theatre. The pool itself directly overlooks the water, bordered by palm trees and an outdoor lounge. The three level house has six bedrooms and eight bathrooms in total.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-daintree-117495083" target="_blank">Alkira, 3726 Cape Tribulation Rd, Daintree</a> 
<img src="/images/2014/12/05/4.jpg" alt=""> This contemporary home in the Daintree Rainforest is extraordinary for reasons beyond its pool. Alkira was designed by architect Charles Wright and was named The Australian Institute of Architects 2014 House of the Year for Queensland. The concrete house comprises a series of pods surrounding an irregularly shaped in ground central pool, in the middle of a man-made lake.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-isle+of+capri-115255947" target="_blank">57 The Corso, Sunshine Coast, Qld</a>
 <img src="/images/2014/12/05/5.jpg" alt="">
At the other end of Queensland's coast is a six bedroom, six bathroom home on the Sunshine Coast. Its curved pool is adjoined by a massive covered entertaining area with resort-style double height roofs. The pool is mirrored by internal water features within the house, and overlooks the river.
</li>
</ol>
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jrichardson-uRX5hFdKfN

Ready for a summer splash? The five best pools on the market

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GUEST OBSERVATION
Treasurer Joe Hockey <a href="https://www.theaustralian.com.au/national-affairs/politics-news/joe-hockey-pleads-with-consumers-not-to-let-santa-down/story-fn59nqld-1227141876441">called on shoppers</a> this week to “not let Santa down” and asked them to spend up big at the stores this Christmas. Unfortunately, the latest retail and consumer confidence data indicate his calls are falling on deaf ears.
Westpac’s <a href="https://www.westpac.com.au/about-westpac/media/reports/australian-economic-reports/">Consumer Confidence Index</a> shows pessimists outnumber optimists. This has been the case for the last nine months. The index was up 1.9% in November, but still well below its level a year ago.
The last time consumer sentiment was in negative territory prior to Christmas was 2011. Shoppers are more focused on saving and continuing to pay down debt while interest rates remain low.
The latest Westpac/Melbourne Institute survey also recorded <a href="https://www.theaustralian.com.au/business/economics/consumer-sentiment-still-in-doldrums/story-e6frg926-1227120284756">nine consecutive months</a> of net negative consumer sentiment.
While Hockey disputed the findings of this survey and instead referred to credit reporting firm Dun and Bradstreet as the “authoritative data on consumer confidence”, it would appear he wasn’t comparing apples with apples. The Westpac-Melbourne Institute Consumer Sentiment Survey reports consumer confidence and Dun and Bradstreet surveys <a href="https://dnb.com.au/Header/News/Business_Expectations_Survey_Sentiment_outstrips_results/indexdl_11088.aspx">business sentiment</a>. While the two surveys are inevitably entwined, each measures different points of view.
Yet even the Dun and Bradstreet survey released this week points to a potentially difficult time for Australian businesses this Christmas. The report highlights businesses are failing to meet their own projected earnings due to slower economic growth. The number of businesses reporting an increase in sales fell from 43% to 38% in the third quarter. The number of businesses reporting reduced sales was also 11% higher than expected.
Why is spending and consumer confidence important?
Consumer confidence indicates the optimism shoppers feel about the overall state of the economy and importantly their personal finances. If consumers are confident, they are more likely to spend on household items, buy a new car, even upgrade to a new home. In contrast, if confidence is lower, shoppers will save more, pay down debt and spend less.
In principle, Hockey’s request to spend up big this Christmas makes sense. Manufacturers, banks and governments use consumer confidence indices for planning purposes.
Manufacturers and retailers who anticipate shoppers will spend more will increase their inventories, put on more staff and invest in new projects. Banks will prepare for increased lending activities and credit card use. Builders will plan for a rise in home construction and put on apprentices. Hockey is also hoping for improved tax revenues based on this increased spending.
All of the pleas to spend more assume shoppers will spend here and not via online overseas retailers. If they choose the latter option there will be no net benefit to the Australian economy. The <a href="https://business.nab.com.au/online-retail-sales-index-in-depth-report-october-2014-8955/">NAB Online Retail Sales Index</a> released this week shows online spending grew by 12% over the past year. However, out of the $16 billion Australian shoppers spent online during this period, over three-quarters of purchases were actually from Australian retailers.
Are Australians likely to take Hockey’s advice and spend?
The Westpac-Melbourne Institute Consumer Sentiment Survey asks shoppers to indicate their projected Christmas spending each November. Alarmingly, <a href="https://www.smh.com.au/business/the-economy/consumer-pessimism-heralds-disturbing-christmas-sales-westpac-survey-shows-20141112-11ktug">38% of shoppers</a> say they plan to spend less on gifts this Christmas.
This should have alarm bells ringing in retail corporate head offices everywhere. The results also indicate that 50% of shoppers will spend about the same as last year, and only 12% plan to spend more. So where might they be shopping this Christmas?
Retail winners and losers this Christmas
According to the <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/8501.0Main%20Features3Sep%202014?opendocument&amp;tabname=Summary&amp;prodno=8501.0&amp;issue=Sep%202014&amp;num=&amp;view=">Australian Bureau of Statistics</a>, there will be a split retail market of winners and losers this Christmas.
Australians are buying more alcohol and are eating out more. So cafes, restaurants, fast-food operators and liquor stores will again be big winners this festive season.
Supermarkets remain reasonably strong <a href="https://www.news.com.au/national/nielsen-research-shows-supermarket-prices-are-down-but-our-grocery-bills-are-up/story-fncynjr2-1226810733558">despite strong price discounting and a deflationary market</a>. Price discounting on key lines this festive period is likely to continue as the supermarkets battle for market share. <a href="https://www.news.com.au/finance/business/coles-flybuys-program-lures-online-shopping-giants-including-ebay-and-apple/story-fnkgdftz-1227138750739">Loyalty programs</a> will also be changed and relaunched to capture more shopping data this season.
Discretionary spending remains tight and clothing stores are unlikely to see an increase in sales. Newsagencies and book stores are feeling the heat from online channels and downloads. There may be an eReader under the Christmas tree this year but probably not a book or magazine subscription. United Kingdom retailer WH Smith may, however, breathe some life into the sector as the company <a href="https://www.opi.net/news/wh-smith-to-acquire-supanews">increases its local presence</a>.
Australians are also spending more on hardware and gardening. Bunnings and Masters will do well, as will consumer electronic goods retailers like Harvey Norman and JB Hi-Fi. However, the Myer and David Jones department stores will struggle as a majority of their sales are tied to footwear and clothing. Shoppers should expect to see the big post-Christmas sales event pulled forward and more discounting throughout December.
While retailers around Australian will applaud Hockey’s pleas for shoppers to spend up big this Christmas, most consumers still appear cautious about handing over their credit cards this season.
<img src="https://counter.theconversation.edu.au/content/34961/count.gif" alt="The Conversation" width="1" height="1">Gary Mortimer is senior lecturer at QUT Business School at Queensland University of Technology.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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po-LsXgBTHBmX

Sorry Joe, consumer spending will disappoint Santa this Christmas

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Last week the House of Representatives Standing Committee on Economics released their recommendations following their investigation into Australia’s foreign investment framework as it applies to residential real estate. 
The Committee tabled 12 recommendations:
<ol>
<li>The current foreign investment applying to foreign purchases of residential real estate be retained in its current form, utilising the existing legislated prohibitions and restrictions on purchases of established dwellings, and encouraging foreign investment to increase Australia’s supply of new housing. </li>
<li>The Foreign Investment Review Board (FIRB) and the Foreign Investment and Trade Policy Division of Treasury put in place appropriate processes for the purpose of audit, compliance and enforcement of the foreign investment framework.  Such processes must accurately capture audit, compliance and enforcement data for the purpose of oversight of the FIRB and the Australian Treasury. </li>
<li>The government apply a modest administrative fee to the current screening of all foreign purchases of residential real estate, including purchases by temporary residents.  Fees collected should be hypothecated to the Treasury’s Foreign Investment and Trade Policy Division for the purpose of funding audit, compliance and enforcement activities. </li>
<li>
The Government introduce a civil penalty regime for breaches of the foreign investment framework as it applies to residential real estate, with the following features: • Pecuniary penalty orders imposed under this penalty regime to be calculated as a percentage of the property value to act as an effective deterrent; and • The regime to apply to foreign investors and any third party who knowingly assists a foreign investor to breach the framework. Pecuniary penalty orders collected should be hypothecated to the Treasury’s Foreign Investment and Trade Policy Division for the purpose of funding audit, compliance and enforcement activities. 
</li>
<li>The government amend the Foreign Acquisitions and Takeovers Act 1975 to provide that criminal penalties for breaching the foreign investment framework as it applies to residential real estate, apply equally to any third party who knowingly assists a foreign investor in residential real estate to breach the foreign investment framework. </li>
<li>In any instance where a foreign owner divests an illegally held established property, any capital gain from the sale of that property be retained by the government.  Funds collected by this measure should be hypothecated to the Treasury’s Foreign Investment and Trade Policy Division for the purpose of funding audit, compliance and enforcement activities. </li>
<li>Australia’s Foreign Investment Policy be amended to explicitly require a temporary resident to divest an established property within three months if it ceases to be their primary residence. </li>
<li>The government, in conjunction with the states and territories, establish a national register of land title transfers that records the citizenship and residency status of all purchasers of Australian real estate.  This information should be accessible by relevant agencies from a single database. </li>
<li>
The government establish an alert system for the expiry of temporary visas that can be used by the Treasury to issue property divestment orders in cases of non-compliance: • By amending the Migration Act 1958 so that the Department of Immigration and Border Protection must inform the FIRB when a temporary resident departs Australia upon expiry of their visa; and • By establishing effective and timely internal processes at the Treasury to receive and cross-check this information against its property databases to screen for compliance with the foreign investment framework. 
</li>
<li>The government amend the Foreign Acquisitions and Takeovers ACT 1975 to provide that residential property sold under off-the-plan certificates that is marketed for sales overseas, must be marketed in Australia for the same period of time.  Breaches of this requirement should be subject to sanctions under the Act ranging from fines to the cancellation of a sale. </li>
<li>In light of the expected finalisation of the statutory review of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 in early 2015, the Committee recommends that the government consider the purchase of residential property by foreign investors as a a possible area of investigation when considering amendments to the legislation. </li>
<li>Treasury’s Foreign Investment and Trade Policy Division make greater use of the databases held by AUSTRAC, and also of other relevant federal and state government databases, to assist the FIRB in its duties and responsibilities. </li>
</ol>
Overall the recommendations are largely within the framework that currently exists, ensuring that foreign buyers only purchase homes which are newly constructed. There are some concerns that the additional administrative fee to screen foreign buyers will act as a disincentive to investment however, reports suggest the fee will only be $1,500. 
In our opinion it is unlikely that such a nominal fee on such a high cost purchase will make a difference.  The introductions for penalties not only for those that purchase non-compliant properties, but also to those that aid such a purchase is also a good step. Any measure that can help to reduce the occurrence of such fraud should be encouraged. 
With the increasing cooperation of state land registries and the development of a national e-conveyancing platform over recent years, the development of a national register of land title transfers that records the citizenship and residency status of all purchasers of Australian real estate is a welcome, important and achievable initiative in order provide increased transparency in relation to foreign investment in real estate through the provision of timely, accurate and reliable data. 
The proposed application of a more severe civil penalty regime to third parties who ‘knowingly assist a foreign investor to breach the framework’ has broad potential application and will be a closely watched development.
It has the potential to extend to real estate agents, banks facilitating the flow of purchase monies from offshore, banks providing mortgage finance and even conveyancers and legal professionals. 
Importantly, the recommendations in the report should not be viewed as a deterrent to continued foreign investment in the Australian housing market, with residential construction activity being a key contributor to Australia’s economic growth, with housing starts in in 2014 now approaching 190,000 units.  
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ckusher-ujnxiKuFQs

Foreign buyer review recommendations won't deter investment

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I'm going to have to admit something that is a bit embarrassing. I've been feeling quite guilty about it so I'm going to confess.
I bought an apartment about 15 years ago (before I started Property Bloom and discovered the Hunter Region).  It's been a great investment and has hardly ever been vacant.
It's located in Chippendale, an inner city suburb of Sydney. The balcony off the living area looks into a peaceful, leafy street and you wouldn't know it's only moments from the CBD and two universities. In fact, it's pretty much been rented consecutively to uni students. As one student would complete their course, they'd introduce the unit to a friend and we'd have a new tenant ready to move in.  
After much number crunching and portfolio gazing, it was time to sell it and as Sydney is experiencing nothing short of a boom right now, I took the lazy way out.
Here's my confession....
I tried to sell a property when it presented in its absolute worst state.  I thought a strong market would mean less focus was needed.
By worst state I mean the student tenants had stuff everywhere. The lounge room consisted of two desks and the rest was covered in what looked to be their entire life's possessions. It was more like a storage shed than a lounge room.  Whilst they were looking after it, there was just too much clutter.
Now, I'm used to walking into a property and seeing the true value through clutter. Believe me, I've seen some horrifying things in properties but I can visualise them cleaned up and our clients have benefited from this. 
Point 1:  Not everyone can visualise.
It's estimated that only 10% of home buyers can visualize the potential of a property. That means 90% are not going to be able to look past dirt, clutter, and imperfections.
Regardless of this, I said to the agent 'let's just whack it on the market and see what happens'. Whack it we did...and guess what, nothing happened! 
There was a lot of interest due to the fabulous location but not one decent offer was made.  Every penny pinching investor was out to make a quick buck and I don't blame them.
Point 2:  You attract low ball offers on poorly presented properties
So we pulled it off the market and waited for the lease to lapse.  Then we had an empty shell of an apartment.  Remembering that not everyone can visualise, I was certainly not tempted to try and sell it empty. We needed to show buyers how good it could look. That's when I called my friend Kylie, she'd started a staging and styling business called <a href="https://propertyrevamped.com.au/%20" target="_blank">Property Revamped</a>. 
In she came and within days of the tenant moving out, we have an entirely different property.
Point 3:  A total transformation can take place quickly
<img src="/images/2014/12/05/lounge%20room%20before.jpg" alt="">
lounge room before and after
<img src="/images/2014/12/05/lounge%20room%20after%20styling.jpg" alt="">
 and
<img src="/images/2014/12/05/bedroom%20before.jpg" alt="">
Master bedroom before and after
<img src="/images/2014/12/05/bedroom%20after.jpg" alt="">
Kylie explained that "Property styling can evoke a lifestyle, seducing prospective buyer into an environment where they envisage themselves spending time with family and friends".
Our agent Felice Cotroneo of Inner City is now the happiest man on Earth. He'd recently sold two properties that had been staged. Both had sold within weeks of being listed.
"We estimate that the staged properties sell 80% faster than non-staged or empty properties." said Felice.
"Styling helps buyers to see that certain furniture works in a particular room. Styling maximises the sale potential and your return on investment is substantial" he said.
Point 4: Look at the return on investment to see if it's the right tactic for you
I will be waiting to calculate the exact return on investment. The staging cost less than $2,000 and we have furniture for eight weeks. I think that's a pretty good investment. Stay tuned and I'll let you know how quickly it sells.
If you are interested in a good inner city investment, <a href="https://www.propertyobserver.com.au/https://www.innercity.com.au/12113913" target="_blank">take a look</a>.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

I have a confession to make: I tried to sell a poorly presented home

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Every year body corporates have to deal with property damage as a result of schoolies, and mitigating these damages is proving to be difficult.
This year Strata Match has received a flood of calls from apartment owners on what restrictions they can place on schoolies to prevent damages. Whatever preventatives they use, Strata Match warns that it must be lawful and applies to all tenants under the Body Corporate and Community Management Act 1997.
The Act states if a lot may be used for residential purposes, the by-laws cannot limit and confine the type of residential use.
This means that different by-laws cannot be made for schoolies if they aren’t imposed on other residents. For example imposing a minimum stay to prevent schoolies from actually renting a unit is unlawful.
Strata Match says the Act also prevents the body corporate from taking action, such as locking balcony doors. However, they do have control over things such as time restraints on the use of amenities, and whether or not glass, music or alcohol is allowed.
Although, if these changes are made they cannot be subject to schoolies week nor can they be exclusive to schoolies goers.
As stated by Fair Trading, all guests should be treated the same way. Any rule or condition that you impose should apply to all guests and should be compulsory for the whole year. This is the same with the bond price. 
 
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Schoolies making it harder for body corporates to protect themselves

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Could a supply deal with supermarket giant Woolworths save collapsed pie retailer Pie Face?
Less than two weeks after Pie Face <a href="https://www.smartcompany.com.au/finance/44731-pie-face-plunges-into-administration" target="_blank">called in administrators Jirsch Sutherland</a>, the company is trialling selling its pies in the frozen food aisles of 15 Woolworths supermarkets in Sydney.
A spokesperson for Woolworths said this morning the two companies will decide whether to extend the trials to the entire Woolworths network after they “see how it goes”.
But it is possible a buyer for the chain could be found before then.
SmartCompany understands offers for the company would be considered by the administrators.
Jirsch Sutherland is also canvassing options with financers to take over the debt of secured creditor Macquarie Capital. <a href="https://www.afr.com/p/business/companies/pie_face_pins_hopes_on_woolworths_v9k7EDFI2CTTmbA8jnZa6J" target="_blank">Fairfax reports</a> the debt is secured over shares in parent company Pie Face Holdings, $3.5 million in cash and the company’s shares in the US arm of the business, Pie Face Inc.
Ferrier Hodgson partners Steve Sherman and Peter Gothard have been <a href="https://www.smartcompany.com.au/growth/franchising/44835-pie-face-under-attack-as-disgruntled-builder-sues-pie-face-us-over-unpaid-bills-and-receivers-appointed" target="_blank">appointed by Macquarie</a> as receivers over the lender’s debts.
Macquarie Capital is reportedly owed $4.2 million, while convertible note holders are owed $7.5 million and the Tax Office is owed $7 million.
A meeting of creditors was held in Sydney yesterday, with franchisees who are also creditors invited to attend. Franchisees who owe the parent company money, however, did not participate in the meeting.
Creditors are expected to convene again at the end of the month
The store footprint of Pie Face has already been reduced to around 50 stores, following the<a href="https://www.smartcompany.com.au/growth/franchising/44816-pie-face-company-stores-in-melbourne-close-ahead-of-meeting-with-franchisees-next-week" target="_blank"> closure of 20 outlets last week</a>.
While it is unknown if there will be any further store closures, administrator Sule Arnautovic told SmartCompany last week “the balance of company-owned stores will likely continue if the group’s restructure is approved by the group’s creditors”.
In further troubling news for Pie Face, this week it was revealed a New York-based building company has launched legal proceedings against the US arm of the company, which is alleged wrongfully terminated a contract and failed to pay bills of up to $US360,000 ($428,443).
SmartCompany contacted Pie Face but did not receive a response prior to publication.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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ekeating-PWvazjYE25

Could Woolies be Pie Face's saviour? 

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If the Real Estate Institute of New South Wales (REINSW) can't achieve their goals by lobbying political parties, they have an alternative strategy in place: become one.
According to REINSW president Malcolm Gunning, the group is considering the formation of a political party to change legislation regarding the real estate industry.
It is now too late for the industry group to form a political party to run in the March 2015 New South Wales election. However, Gunning tells Property Observer the REINSW has already made connections with the head of one party, which he declines to name.
"We've been approached now by another industry based single party to support them, which we'll consider," Gunning says.
"If we get co-operation by state government, we'll review it. But if we don't, if again we're pushed off, there's the framework in place."
He likens the potential real estate focused party to the Shooters and Fishers party, which holds two seats in the New South Wales Upper House. As a result of their government deals, hunters are now allowed onto public land in New South Wales.
"It's really about putting pressure on both sides of government to make sure property practice and agency practice is in line with public expectations."
The REINSW's potential political ambitions come after their sister organisation, the Real Estate Institute of Victoria, was <a href="/expert-insights/investing/tweet-of-the-day-reivs-anti-liberal-campaign-reckless">criticised by some</a> for running an <a href="/news/vic/reiv-locked-in-dispute-with-small-business-body-over-victorian-election-advertising">anti-Liberals campaign</a> ahead of last week's Victorian state election. 
Gunning claims any REINSW affiliated political party won't be campaigning on behalf of any major party.
"We're apolitical, we're policy driven," Gunning says.
"From an REINSW point of view, we prefer to argue policies in both sides of government, and not necessarily back any particular party."
Their main concern, he explains, is the <a href="/news/real-estate-agent-education-in-a-dire-state-reinsw">standard of real estate professionals</a> in the state.
"We've been lobbying state government and various ministers, and the Office of Fair Trading, for some time about improving the educational standards for entry into our industry," he says.
"And it's been really falling on deaf ears."
Gunning says despite the existence many qualified and long-practicing real estate agents in New South Wales, lax educational standards have allowed unqualified or unprofessional agents to practice, particularly in migrant populations.
"Through our international chapter, they're saying there's a sub-market taking place within Melbourne and Sydney's immigrant groups, and it's slipping under the radar of Fair Trading.
"A lot of the immigrants won't report real estate agents, and don't understand the legislation," claims Gunning.
He says the state's poor agent standards extend beyond selling agents, to property managers.
"A profile of a current property manager is a 26 year old female, maybe with a week of training," he explains.
"If that's the case, that young woman, or that person, has got to be mindful of swimming pool legislation in New South Wales, fire place safety, or people hanging themselves with blind cords.
"So you've got people who are assumed to be taking on responsibilities which they aren't equipped for."
He claims the increasing educational requirements for new agents will not negatively impact competition in the industry, with agents previously required to train for 12 months and then have two years of probation.
"So when it came to opening their own business, they were pretty well prepared," says Gunning.
Land tax and stamp duties would be another area a REINSW party would hope to reform after addressing their industry standard concerns.
"There are about 70% of Australians who have some interest in property.
"If you own a bit of real estate, you hope to have a voice in government," says Gunning.
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Will the REINSW make the leap from lobby group to political party?

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 A million lopped off the asking price, years on the market – vendors just can't seem to shift these homes.
These are the 10 most heavily discounted homes in the country, according to <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>.
<a href="https://www.realestate.com.au/property-house-tas-ranelagh-113279035" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">2 Louisa Street, Ranelagh, Tasmania</a>
 <img src="/images/2014/12/04/discounted%20list.jpg" alt="">
Buyers aren't biting, despite Clifton's historic heritage. The circa 1865 home on a corner plot has been on the market for 615 days, and in that time its asking price has halved. Originally listed at $2 million, vendors are now seeking offers at $995,000.
Before a series of transactions from 2000, the property was passed down through a single family.
The property, with a 25 bed main residence and two separate cottages, was once used as a farming enterprise, and at other times as a bed and breakfast.
<a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-rochedale-114981059" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">948 Priestdale Street, Rochedale, Queensland</a>
<img src="/images/2014/12/04/2.jpg" alt="">
One of many rural or regional properties on the top 10 list, this 4.99 hectare property has also had a million dollar price chop. Its initial price guidance was $2.8 million, and it is now listed at $1.65 million (a 41% drop).
The 20 paddock property has been on the market for 412 days. It has multiple sheds and barns, and a three bedroom main house.
<a href="https://www.realestate.com.au/property-house-tas-wattle+grove-116035107" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">78 Walters Road, Wattle Grove, Tasmania</a>
<img src="/images/2014/11/26/1.jpg" alt="">
This Wattle Grove property was until this week the most discounted home in Australia, with its asking price down 40% from $1.15 million to $685,000. It's been on the market for 285 days. T
he property has 10 acres, set over two titles. It holds a three bedroom, two bathroom house and a separate two bedroom cottage.
<a href="https://www.domain.com.au/property/for-sale/rural/nsw/leppington/?adid=2011255071" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">61 Woolgen Park Road, Leppington, New South Wales</a>
<img src="/images/2014/11/26/2.jpg" alt=""> 
A 5.24 acre block running parallel to Camden Valley Why has been discounted by 39%. Around five months ago, it was listed for $1.55 million. Now, the vendors are asking for $950,000. Its currently rented for $300 per week by a horse owner.
<a href="https://www.realestate.com.au/property-residential+land-wa-carabooda-200627671" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">292 Carabooda Road, Carabooda, Western Australia</a>
<img src="/images/2014/10/1/1.jpg" alt="">
Taking out the joint title for most heavily discounted home in Western Australia is a 7.1 hectare farm. The property's asking price has dropped from $1.65 million to $1,032,000 – a 37% drop.
The property has a three bedroom cottage, a double garage and water supplied by an on-property bore. It's been listed for 467 days.
Article continues on the next page. Please click below.
<a href="https://www.realestateview.com.au/Real-Estate/28a-malsbury-street-bicton/Property-Details-buy-residential-7962768" target="_blank"></a>
<hr class="system-pagebreak">
<a href="https://www.realestateview.com.au/Real-Estate/28a-malsbury-street-bicton/Property-Details-buy-residential-7962768" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">28a Malsbury Street, Bicton, Western Australia</a> 
<img src="/images/2014/11/26/image3.jpg" alt="">
This two bedroom, one strata unit has also had a 37% price cut. The house has been on the market for a little over a year. At first, it was listed at $1.5 million. Now, vendors are asking for $950,000.
The vacant property is currently listed for rent at $480 per week. If tenanted and sold at its current advertised price, it would return a 2.6% yield.
<a href="https://www.realestate.com.au/property-house-tas-battery+point-108230936" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">1/23 Albuera Street, Battery Point, Tasmania</a>
<img src="/images/2014/07/09/6.jpg" alt="">
This schoolhouse conversion apartment is on the market for $1.4 million, down 36% from its initial listing price of $2.2 million. The luxury ground floor apartment has three double bedrooms, polished timber floors and pressed metal ceilings.
It's been on the market for more than three years.
<a href="https://www.realestateview.com.au/Real-Estate/2-wellington-street-richmond/Property-Details-buy-residential-6093682" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">2 Wellington Street, Richmond, Tasmania</a>
<img src="/images/2014/07/09/2.jpg" alt="">
Another historic Tasmanian estate, Mill House, can't seem to attract buyers. Originally given a $2.8 million price guide, it's now on the market for $1.8 million.
The estate, with a four bedroom, four bathroom main house and a self contained cottage, has been listed for 428 days. The vendors will consider selling the adjoining plot.
<a href="https://www.realestate.com.au/property-house-wa-carabooda-114289451" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;">219 Bernard Road North, Carabooda, Western Australia</a>
<img src="/images/2014/10/1/2.jpg" alt="">
The rural property at 219 Bernard Road North shares a selling agent with 292 Carabooda Road and, unfortunately, the same difficulty finding a buyer. It's on the market for $2,727,000 after it was listed for $3.5 million.
The 15 hectare farm set over two lots has been on the market for 467 days. It includes a brick and tile home and farm sheds on one plot, and a "home in disrepair" on another.
<a href="https://www.realestate.com.au/property-house-sa-strathalbyn-107584093" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;">21 Cotton Court, Strathalbyn, South Australia</a> 
<img src="/images/2014/04/30/strathalbyn.jpg">
This discount-list veteran has been on the market for 1,204 days – just over three years and three months. The Strathalbyn home was first put on the market with a $498,000 price guide. Now, it's listed at $325,000.
The owners purchased the three bedroom, one bathroom c1900 house on 1,229 square metres for $118,000 in 1955.
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Prices slashed: The 10 biggest property discounts in Australia

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GUEST OBSERVATION
“At present, we are stealing the future, selling it in the present, and calling it GDP.” — Paul Hawken
Imagine if a corporation used Gross Domestic Product (GDP) accounting to do its books: it would be adding all its income and expenses together to get a final number. Nobody would think that’s a very good indication of how well that business was doing. Herman Daly, a former senior economist at the World Bank, said that, “the current national accounting system treats the earth as a business in liquidation.” He also noted that we are now in a period of “uneconomic growth”; where GDP is growing but societal welfare is not.
The good news is that there are several alternatives to GDP being actively developed, discussed, and used. One of these is the <a href="https://genuineprogress.net/genuine-progress-indicator/" target="_blank">Genuine Progress Indicator</a> (GPI).
GPI starts with personal consumption expenditures — a major component of GDP — and adjusts it using 25 components. These adjustments include incorporating the negative effects of income inequality on welfare; adding positive elements not considered in GDP, such as the benefits of household work, volunteer work, and higher education; and subtracting environmental costs and social costs like the costs of crime, unemployment, and pollution. In doing so, it paints a more accurate picture of how far we’ve come over the last three decades.
Regional level
In the United States, the states of Maryland and Vermont officially report their GPI annually. In 2010, Maryland was the first state to officially adopt the GPI as an alternative to GDP. The state’s goal was “to measure whether or not economic progress results in sustainable prosperity”.
Since its beginning, Maryland governor Martin O'Malley has <a href="https://www.dnr.maryland.gov/mdgpi/" target="_blank">actively implemented policies to encourage the increase of GPI</a>. The media has also taken up the challenge of shedding light on the true picture of societal welfare, with media coverage now regularly reporting on changes in GPI.
In 2012, the state of Vermont passed legislation mandating the calculation of GPI. Since then, GPI has been estimated for other states including Colorado, Hawaii, Massachusetts, Michigan, Ohio, Oregon, and Utah, while 10 others have expressed interest in developing their own studies.
This movement towards GPI is part of an international trend, and GPI has been calculated in around 20 countries worldwide. The international research community has begun to develop what is being called “GPI 2.0”. GPI 2.0 seeks to improve standardization and robustness of the current GPI.
National level
GPI is not the only new measure of societal welfare being adopted around the world. The Kingdom of Bhutan began using <a href="https://www.grossnationalhappiness.com/" target="_blank">Gross National Happiness</a> (GNH) as an alternative to GDP in 1972 after fourth King, Jigme Singye Wangchuck, stated that “Gross National Happiness is more important than Gross National Product.”
GNH is estimated using a survey that takes approximately seven hours per person. In 2013, it was taken by more than 10% of the Bhutanese population. The Bhutanese government also established the GNH Commission to assess all new policies for their impact on the “happiness” or well-being of the population.
The Australian Bureau of Statistics also began moving in this direction with the <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/1370.0" target="_blank">Measures of Australia’s Progress</a> (MAP) initiative. MAP was established to address the question, “Is life in Australia getting better?” MAP provides Australians with 26 indicators related to society, economy, environment, and governance. Unlike the GPI, it does not aggregate the indicators into one overall measure, but allows viewers to make their own assessment regarding the well-being of the Australian population based on the individual indicators. However, funding was discontinued for MAP in early 2014.
<h2>Global effort</h2>
Currently, no global consensus exists regarding alternatives to GDP. However, there is growing agreement that the continued use of GDP as a proxy for overall well-being is not appropriate. A range of national indicators exist and are being used around the world
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/65809/area14mp/image-20141128-9764-1kqiz3c.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/65809/width668/image-20141128-9764-1kqiz3c.png" alt=""></a>
The <a href="https://www.un.org/millenniumgoals/" target="_blank">Millennium Development Goals</a>, which are ending in 2015, look primarily at health, poverty, and education. To replace them, a UN-led initiative has developed a set of 17 <a href="https://sustainabledevelopment.un.org/focussdgs" target="_blank">Sustainable Development Goals (SDGs)</a>. These new goals have a broader agenda that includes the environment, inequality, and sustainable and equitable economic growth, amongst other aspects.
Although metrics are being developed for each of the 17 goals and their sub-goals, as of yet, no overall indicator has been developed to assess the overall success of the SDGs.
Robert F. Kennedy once said that a country’s GDP measures “everything except that which makes life worthwhile”. The only way to dethrone GDP from its current role, is to start measuring all those things that do “make life worthwhile”.
Ida Kubiszewski is senior lecturer at Crawford School of Public Policy at Australian National University.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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