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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Architecture group Rothelowman are expanding their services across the east coast, opening new offices in Sydney.
The group specialises in highrise developments and are hoping to tap into a new market after the recent multi-residential boom in New South Wales and ACT.
Three years ago they opened offices in Queensland after the state's extended property slump. The Brisbane offices make upwards of 25% of the practice's income.
Last year RotheLowman designed 10,000 apartments in Melbourne. Managing principal Kim Lowman believes Sydney is primed to take on just as much development.
“Sydney is undergoing a development boom similar to the one experienced in Melbourne during the last five to 10 years,” says Lowman. 
Lowman anticipates Sydney offices will produce 30% to 40% of the firm’s revenue in less than three years. He predicts a sharp growth in Sydney’s property development after a recent slow period. Factors such as a prolonged post-Olympics and post-global financial crisis property slump “have led to pent-up demand for multi-residential development in Sydney.”
According to the Housing Industry Association, New South Wales building approvals for units in four plus storey buildings are currently at an historic high, despite a 36% drop in the September 2014 quarter. 
Rothelowman were granted approval of a $30 million dollar mixed-use, multi-residential development in Burwood and expect several other New South Wales projects to be approved in the coming months.
Newly appointed principal of Rothelowman in New South Wales and the ACT Ben Pomroy says the long-term trend of housing construction delivery of 18,000 dwellings per annum in New South Wales is consistently falling short of baseline demand of 22,000 to 25,000 dwellings per annum.
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owisniewski-RiYLqnXfKH

Rothelowman expand to Sydney

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Sydney’s newest laneway retail precinct, Kensington Street, has been launched on the eastern boundary of the $2 billion masterplanned Central Park project in Chippendale.
Kensington Street by Greencliff is seeking 26 tenancies, including 14 food and beverage and 12 specialty retail, comprising 3,000 square metres of gross floor area spanning 160 metres of direct street frontage in the heritage-conversion lane way precinct.
Part of the precinct includes the Unlisted Collection’s boutique hotel, The Old Clare, which has secured top UK chef, Jason Atherton (Pollen Street Social, Equina) to head up a line-up including Clayton Wells (Momofuko Seiobo) and Sam Miller (Noma).
Greencliff executive director, in charge of leasing, Marcus Chang says it presents a rare opportunity to showcase talents.
“Greencliff are in the midst of carefully curating a melting pot of some of the edgiest and highly acclaimed talents in the world,” said Chang. 
“Tenancies range from intimate and affordable 25sqm spaces which offer really cool unique opportunities for someone like a barista, chic pastry chef or even a cocktail bar – to spaces within soaring warehouses with graffiti on the walls, exposed beams and hundreds of years of history etched in every crevice," he said.
"This is inner-city retail gold dust.”
<img src="/images/2014/11/26/kensington-nov-26-two.jpg" alt="">
The community of Central Park is already 2,000 plus residents now living at the precinct with a further 3,000 set to move into the precinct by 2015.
The Greencliff CEO Dr Stanley Quek said that the concept was developed as a major drawcard for innovative and ambitious retailers looking to contribute to the newest vibrant ‘eat street’ in the heart of Sydney’s new downtown.
“Visitors will be reminded of the streets of Brooklyn in New York, Abbot Kinney Boulevard in Venice Beach, LA or Brick Lane in East London. It will be quite unlike any pedestrian laneway precinct currently in Australia,” he said.
The Kensington Street precinct is expected to be open in early 2015.  
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jchancellor-FAypfDUnLy

Kensington Street, Chippendale seeking edgiest retail tenants

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GUEST OBSERVATION
The property funds management industry for individual investors has undergone significant change over the past six years as a result of corporate activity and restructuring. Stability and continuity of sound management is an attribute sought by all investors and alignment of interest.
Table one, below, shows the ranking of the five syndicate and unlisted property trust managers with largest funds under management in 2008, 2011 and 2014.  It shows a total change from 2008 to 2014.
Table one - Ranking of Property Syndicate and Unlisted Retail Fund managers (click to open in new window)
<img src="/images/2014/11/26/atchison-nov-26-one.png" alt="">
Source: PIR
In addition to changes in the list of largest managers the emergence of new managers has been a feature of the industry.  This has been driven in part by regulatory changes and by departure of smaller managers thorough poor business management.
Basle III requirements have encouraged the exit by banks from property investment management.
Demands by superannuation regulators for liquidity have hampered the offering of property funds by major platforms.
Inability by owners and managers in arranging recapitalisation of funds and businesses has prompted total departure of some managers.
Many investors prefer unlisted funds over listed REITs. Investors in unlisted property have included high net worth individuals, family offices, SMSFs, dealer group syndicates and individual investors.  Significant investment visa applicants are also participating in this sector.
Offerings of property funds or syndicates in 2014 have been made by 15 different investment managers including the large managers in table one and many new managers.
When assessing new property investment products, sustainability of the investment management business has become a more significant factor.  Alignment of interest between investors and managers are sought.  Real estate attributes, performance prospects and level and structure of fees remain significant.
Ken Atchison is managing director of <a href="https://atchison.com.au/" target="_blank">Atchison Consultants</a>.
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katchison-p6oi8fSFSF

How new property fund managers are changing the industry

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The Victorian Greens are the only party that have committed to a review of the retirement housing sector in the next political term.
Ahead of this weekend's state election, the Consumer Action Law Centre has been lobbying political parties to commit to a review of the Retirement Villages Act 2010 and retirement housing sector more generally.
According to the Consumer Action Law Centre, the major parties are yet to promise any reform or review of retirement housing policy. Neither Victorian Labor nor Liberal have advertised any policies regarding retirement housing ahead of the election.
The Greens, however, have promised to launch a parliamentary inquiry into the housing retirement sector and act on subsequent recommendations.
They claim their actions will "ensure older people are not ripped off".
"The Greens will act on the recommendations of the inquiry to reform retirement housing legislation to ensure it reflects the diversity of retirement housing types and includes proper consumer protections, dispute resolution procedures, fair pricing, and consistent, simplified management standards and regulations across the sector", states the <a href="https://greens.org.au/vic" target="_blank">Victorian Greens website</a>.
The Consumer Action Law Centre claims current retirement housing practices include "overly complex contract terms and unfair fee structures".
Denise Boyd, director of Policy and Campaigns at Consumer Action, said: "We've heard from residents who'd chosen certain retirement accommodation because it offered stability for their later years. But, in fact, many contracts include deferred management fees of up to 40% of the total cost. Hiding the cost of accommodation in high fees to be paid upon departure is unfair – these costs can surprise family members or limit aged care options when leaving the retirement accommodation."
She also said the centre has seen contracts requiring residents to pay for capital improvements when they leave their rented retirement accommodation.
"Refreshing the properties is reasonable, but this is being used by village owners to charge departing residents upwards of $50,000 for entirely new kitchens and bathrooms," said Boyd.
"These are capital works, not refurbishment, and should be paid for by the owners, not residents."
According to Boyd, personal briefings with Liberal and Labor Party members did not result in any commitments to improve the sector after the election.
"This issue affects thousands of Victorian voters and we'd hoped all parties would make clear statements of intent to sort out this unacceptable and unfair situation," she said.
 
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jrichardson-uRX5hFdKfN

Victorian Greens commit to retirement housing review ahead of state election

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Tasmania and Western Australia dominate <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>'s list of the most discounted homes in the country.
Despite price cuts of up to 40% and months (for some, years) on the market, buyers just won't bite.
SQM Research's top 10 discounted homes:
<a href="https://www.realestate.com.au/property-house-tas-wattle+grove-116035107" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">78 Walters Road, Wattle Grove, Tasmania</a>
 <img src="/images/2014/11/26/1.jpg" alt="">
Vendors have cut the price guide for this property by 40%, making it the most discounted home in the country. There is a three bedroom, two bathroom house on the 10 acres, along with a separate two bedroom cottage.
Set over two titles, the Wattle Grove property was initially listed for $1.15 million, but now comes with a $685,000 price guidance after 279 days on the market.
<a href="https://www.domain.com.au/property/for-sale/rural/nsw/leppington/?adid=2011255071" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">61 Woolgen Park Road, Leppington, New South Wales</a>
 <img src="/images/2014/11/26/2.jpg" alt="">
The price of this 5.24 acre block has been cut from $1.55 million to $950,000, a 39% discount. Running parallel to Camden Valley Why, the property has a two bedroom cottage, currently rented for $300 per week by a horse owner. If the home eventually sells for its $950,000, the current rent would reflect a 1.6% yield.
It has been on the market for 148 days.
<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-three.jpg" alt="" style="float: left;">28a Malsbury Street, Bicton, Western Australia</a>
<img src="/images/2014/11/26/image3.jpg" alt=""> 
A two bedroom, one bathroom strata unit is on the market for $950,000, after a 37% price cut. The home celebrates its first anniversary on the market today –one year ago, it was listed at $1.5 million.
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-four.jpg" alt="" style="float: left;">1/23 Albuera Street, Battery Point, Tasmania</a>
<img src="/images/2014/07/09/6.jpg" alt="">
This luxury renovated apartment in Hobart is situated in the former Albuera Art School.
Vendors are seeking offers over $1,400,000. Its price has been cut by 36% – when it was first listed on the market, more than three years ago, it was listed for $2.2 million. The property has three double bedrooms, with polished timber floors throughout and pressed metal ceilings.
<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-five.jpg" alt="" style="float: left;">2 Wellington Street, Richmond, Tasmania</a>
<img src="/images/2014/07/09/2.jpg" alt="">
Vendors lopped a cool million off the asking price of this Tasmanian heritage property. It was originally listed at $2.8 million, with its price cut by 36% after 391 days on the market.
The historic property has a four bedroom, four bathroom main residence, with a formal living and dining area, sunroom and cellar.
There is also a self-contained cottage on the property, and vendors will consider selling the adjoining plot.
 
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<a href="https://www.realestate.com.au/property-house-sa-strathalbyn-107584093" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">21 Cotton Court, Strathalbyn, South Australia</a>
<img src="/images/2014/04/30/strathalbyn.jpg">
This Strathalbyn home has seen a price cut of 35%. It was initially listed at $498,000, and currently has a $325,000 price guide. The house was listed 1198 days ago, making it the longest-listed house in the top 10.
The vendors purchased the c1900s house for $118,000 in 1995.
<a href="https://www.realestate.com.au/property-unit-wa-cottesloe-113421415" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">4/134 Marine Parade, Cottesloe, Western Australia</a>
<img src="/images/2014/11/26/cottesloe.jpg" alt="">
A three level home in Cottesloe has been on the market for 596 days – a bit over a year and a half. Its price has seen a 35% cut, from $2.75 million to $1.8 million.
The three bedroom, three bathroom unit has panoramic ocean views from its balcony.
<a href="https://www.realestateview.com.au/Real-Estate/76-tinderry-road-michelago/Property-Details-buy-residential-3186525" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">76 Tinderry Road, Michelago, New South Wales</a>
<img src="/images/2014/07/09/4.jpg" alt="">
This 710 hectare property was first listed in October 2011 at $1.9 million. Since then, its price has dropped by 34% to $1.25 million.
The original 1925-era home still stands on the rural property and requires significant renovations. Permanent water is supplied by the Michelago creek, with two dams on the land.
<a href="https://www.realestate.com.au/property-house-sa-belair-116283343" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;">40 Hawker Avenue, Belair, South Australia</a>
<img src="/images/2014/11/26/belair.jpg" alt="">
This contemporary home was originally advertised at $1.69 million in March this year. Its price has since dropped by 32%, and the home is now listed at $1.69 - $1.79 million.
The house has re-entered the market due to a contract that fell through. It has four bedrooms, three living spaces, a 15 metre lap pool and a triple car garage.
<a href="https://www.realestateview.com.au/Real-Estate/2-stockdale-road-kewdale/Property-Details-buy-residential-7820108" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;">2 Stockdale Road, Kewdale, Western Australia</a>
<img src="/images/2014/11/26/stockdale.jpg" alt="">
The third West Australian home on the top 10 list was originally put on the market three months ago. Since then, the price guidance on the three bedroom house has dropped 31%, from $870,000 to $600,000. It is set on a 685 square metre block.
The listing information, which says the price is "reduced for quick sale", notes the City of Belmont has indicated it will consider selling the adjoining 200 square metre plot.
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The 10 most heavily discounted homes in Australia

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With Victorians heading to the ballot box this Saturday, the Coalition has pledged to bring in new laws to stop underquoting. But the plans have polarised many in the real estate industry.
The legislation would be introduced to Parliament next year if the government is re-elected.
The proposed legislation would move to ensure that the reserve price would be within the advertised range, make it mandatory to advertise houses with a listed price or price range and make it compulsory to include a reserve price when signing a sales authority with an agent.
Under the proposal, a reserve price could be changed up to three days prior to the auction and any change to the reserve price would need to be reflected in advertising for the property.
Agents that failed to adhere to the rules would face fines up to $29,000.
“The Australian dream is to own your own home, but over recent years underquoting has become a routine part of Victoria’s real estate market, leading to bitter disappointments for people searching for their own home,” said the Coalition’s plan.
Labor says that rather than introducing new legislation, existing laws that prohibit underquoting need to be properly enforced.
The Real Estate Institute of Victoria have <a href="/expert-insights/investing/victorian-election-real-estate-dramas-underquoting-and-election-stunts">not been positive about the announcement, calling it an “election stunt”</a>.
The REIV’s Enzo Raimondo said that, given the fine for underquoting is $29,522 at present and one of the initiatives is to impose a $29,000 fine for underquoting, he isn’t sure “what this government is playing”.
"My experience with the Napthine government is they don't do that, they work in blissful isolation of the industry ... and this is just an election stunt because everything regarding underquoting is already in place," Raimondo said.
SQM Research’s Louis Christopher is one who has vocalised his support for the plan.
"This is a positive development but the Victorian Liberal party, and I welcome this election promise. Let's hope they stay committed to this promise and they are not scared off by the protests of the REIV, who are unashamedly against this reform,” said Christopher.
The Victorian Coalition’s proposed crackdown has prompted Christopher to invite other <a href="https://www.change.org/p/the-honourable-matthew-mason-cox-mlc-nsw-government-make-it-compulsory-to-advertise-auction-reserve-prices-to-stamp-out-underquoting-and-dummy-bidding" target="_blank">supporters of ending underquoting in New South Wales to sign an online petition</a>.
In Queensland, laws to ban auction price guides in a bid to stamp out underquoting are set to come into force on 1 December.
Real estate expert <a href="/news/qld/dark-ages-descending-on-queensland-as-auction-price-guide-ban-defies-common-sense-john-mcgrath">John McGrath has called the Queensland price guide bans a move that could take the industry “back 50 years”</a>. However, the Real Estate Institute of Queensland has been in strong support for the changes.
 
 
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Victorian Coalition's planned underquoting crackdown stirs industry debate

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We are all living longer and that fact alone is having a big impact on the housing market as the population grows and ages.
However, it is the baby boomers that right now are shaping many areas of the housing market. As life expectancy among the boomers continues to rise, a more complex housing market is evolving.
There has been a 100% increase in the numbers of people living beyond 55 plus and a 150% increase in the numbers of people aged 75 plus. At the same time as the baby boomers age, their health has improved, and a longer life span is leading to pressures on aged welfare payments and health care costs. There are also longer term pressures building on how superannuation savings are managed and invested and how public pensions are funded.
As a result the traditional idea of retirement and retirement housing has shifted and continues to do so with some very dramatic consequences for the housing market.
Where and how the baby boomers live in retirement looks nothing like the retirement plans and hopes of their parents. The idea of moving to a sleepy coastal town, or traditional retirement village is being replaced with an appetite for lifestyles as diverse as living on a luxury liner (for the lucky few) or the more accessible idea of moving to a lifestyle resort with apartments and villas clustered around a golf course and access to a cinema, resort style pool and other amenities.
A key idea driving retirement living is the desire to stay connected. As people live longer and stay in good health they want to stay connected to family, the kids, the grand kids and lifelong friends, the idea of moving away from all of these connections has no appeal. Those living in retirement, or soon to retire, are no longer heading towards accommodation in clusters, they are aging in place and that means possibly staying longer in the current family home in metro, regional and country locations.
Existing homes are being renovated in greater numbers to accommodate their needs, by for example improving access to bathroom facilities and by reorganising accommodation so that stairs are eliminated.
Of course some people do move house, either trading up or down the price ladder and many new homes now feature a ground floor bedroom and bathroom. There’s also a continued trend towards boomers moving into CBD apartments, or apartments that a very well connected to local facilities. Sydney’s Double Bay and Bondi Junction are just two areas where this trend is evident. It’s all a part of being connected to the community and people's health care is also better managed when they are close to established medical facilities, a point not wasted on federal and state Treasurers.
More Flexibility Requires More Income
Recent federal budgets have started to directly address retirement issues, the retirement age is being increased, yes we are living longer, but we are also working longer by choice and by necessity.
As part of the housing equation income planning is now a central concern, people want to have more control when they retire and this is leading to a greater trend towards semi-retirement, with more lifestyle flexibility. By moving into retirement slowly, people are able to retain the family home longer, or plan their move to say a new apartment project, in an orderly fashion and possibly over a number of years. This is often an appealing solution for those who are asset rich, but cash poor.
If people do not want to sell their homes and move to fund part of their retirement income, staying local looks to be a long-term trend. Staying connected also means more boomers are looking for flexibility in their housing options and moving to semi-retirement may well have the impact of delaying the possible turnover of some existing housing stock. However it appears that it is quality of life that will drive retirement housing options. It is interesting to note that it’s the more highly paid who work longer and those that retire early usually do so not for financial reasons, but for health reasons as their ability to work is diminished.
Somehow that retirement cottage on the beach has lost its appeal, while a CBD apartment gains appeal and boomers weigh up how best to fund their future lifestyle and housing needs.
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How Baby Boomers retirement plans are impacting the housing market

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GUEST OBSERVATION
The recent <a href="/expert-insights/investing/pie-face-bakery-chain-collapses-into-administration">voluntary administration of Pie Face</a> has highlighted the uncertainty faced by franchisees if their franchisor goes into administration.
Here are 10 key risks to franchisees of insolvent systems:
1. The risk of little useful information
Many insolvency practitioners do not understand franchising and the nature of the franchise relationship.
Administrators will apply considerable effort to keep staff and creditors informed during an insolvency – the first to ensure they keep the business operating or provide access to records while the administrators sort out the business’ position, and the second to ensure continuity of key supplies. However, franchisees are generally given the bare minimum of information.
Because staff and suppliers are recognised as creditors, they are usually better-informed than franchisees, who may be circulated a form letter when the business is placed in administration, and then hear no further meaningful information until a sale or winding-up announcement is made. Franchisees of insolvent chains often learn more from the media about the future of their livelihoods than they do from the administrators.
2. Loss of consumer confidence
In previous franchise insolvencies such as that of book retailer Angus &amp; Robertson in 2011 and whitegoods retailer Kleenmaid in 2009, the loss of consumer confidence when the businesses went into administration was so great that it accelerated the final collapse.
Angus &amp; Robertson customers were outraged when administrators announced that gift vouchers (many of which were given as Christmas presents only a couple of months earlier) would no longer be honoured, prompting a consumer backlash. During this highly damaging PR, the remaining company-owned and franchised stores were expected to trade on as usual.
When Kleenmaid went under, its franchised and company-owned stores were besieged by angry customers trying to claim the goods for which they had collectively paid more than $25 million in deposits. In rare cases, some were able to buy their goods all over again in liquidation sales to ensure that their newly-built or renovated kitchens or laundries could be completed without further modifications, but many swore they would never buy Kleenmaid again, and actively campaigned against the brand in revenge.
3. Disruption to supply chains
Some franchise systems have preferred supplier arrangements, and others are the primary supplier to their franchisees themselves.
A manufacturer may supply its retail network of company-owned and franchised stores with the majority of their product lines. If the manufacturing facilities are scaled-back, closed or sold separately from the retail network, then a significant risk of disruption to normal supplies exists. A new buyer of the group could decide to close the factory and outsource manufacturing altogether, in which case it is likely that teething problems with a new set of arrangements could also result in supply issues for franchisees.
While it is possible for a franchisee to continue to operate when a franchisor goes bust in networks that have preferred supplier arrangements, the franchisee might find that creditors will become more risk averse and tighten their credit terms, insist on cash up front, or otherwise cap franchisee purchases to a low limit to reduce future risk.
4. Stock dumping
Franchisees of fashion accessory chain Kleins, which collapsed in 2008, found themselves selling goods at cost or below as the administrator sought to liquidate inventory held by the franchisor that could not be returned to suppliers.
In any group where the franchisor has embedded itself into the supply chain and provides inventory to the franchisees, there is the risk that administrators will seek to liquidate inventory as quickly as possible through the network to generate cash, and this may be done at the expense of franchisee margins or in breach of the brand’s established price positioning.
Either way, this can be damaging to a franchisee’s business.
5. Diminished franchisor support
Administrators will question all costs in a business, particularly labour costs. Franchisor head office staff who survived the franchisor’s descent into administration may still be made redundant by the administrators in an attempt to restore profitability and improve the saleability of the business as a going concern, but in doing so often reduce the very resources for which franchisees pay royalties.
Consequently, franchisees of an insolvent system might find that their field support officer has been let go, or now has two or three times more franchisees to support as his colleagues have left.
A reduction in field support is likely to occur concurrently with a reduction in marketing personnel and other head office functions that directly or indirectly provided support, meaning that franchisees will be left more and more to their own devices, and while some may see this as a good thing, it further exacerbates damage to the brand (and therefore, network value) as inconsistencies develop in the group.
At its worst, this could lead to open revolt by franchisees, as happened with Angus &amp; Robertson in 2011 when nearly half the franchisees sought to leave the group en masse while it was under administration.
This article continues on the next page. Please click below.
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6. Pursuit of outstanding royalties
Administrators have no capacity to offset debts owed by an insolvent franchisor to its franchisees, against the royalties owed by the franchisees.
In other words, franchisees have to claim their debt owed by the franchisor like any other creditor, and end up with whatever cents in the dollar might be paid at some future point, but in the meantime must pay 100% of all outstanding royalties to the administrators on demand without argument.
If franchisors have allowed franchisees to fall behind in their royalty payments, administrators will ditch such arrangements and demand full payment immediately as they scrape together cash to keep the business afloat. Unfortunately, this can result in considerable financial pain to any franchisees who owe royalties, and whose business may also be struggling (the reason why they fell behind in their royalties in the first place).
7. Disclaiming of leases or other agreements
When Kleins was placed into voluntary administration in 2008, it was subsequently revealed that the franchisor held the leases on all the stores in the network, including the franchised outlets. Franchisees would then sub-lease the stores from the franchisor, to whom they would pay rent, and then the franchisor in turn would pay rent to the landlord (many of which were major shopping centres).
However, under this arrangement, the rents paid by the franchisees to Kleins were not being passed to the landlords, and the store rents fell behind.
When the administrators took control of the business, they exercised their unique power to disclaim (i.e. terminate) the leases, to reduce their ongoing liabilities in operating the business. The unfortunate byproduct of this action was that the franchisees in terminated outlets were suddenly left with two choices: close the shop and wear the losses caused by the premature ending of their business, or negotiate new leases directly with the landlords and attempt to continue trading.
Many chose to negotiate new leases with the landlords, but found this to be a double-whammy.
In some cases their rent increased because they were now independent operators, and no longer part of a national chain. In all cases, the franchisee would have had to find the cash to lodge the usual rental guarantee (up to three months rent in advance), plus invest in new signage and fitouts, etc, to trade as independents, while at the same time writing-off as unrecoverable large sums of money owed to them by the franchisor under Kleins’ unique income guarantee.
Administrators can and will disclaim leases and other commercial agreements if they feel it is in the best interests of the insolvent entity, even if it is not in the best interests of the franchisees.
However, the reverse does not apply to franchisees, who usually have no rights to terminate their franchise agreements even if their franchisor is in administration.
8. Loss of business value
It goes without saying that any franchisee who might have been planning to sell their business before their franchisor goes into administration will subsequently find it almost impossible to complete a sale until the system recovers from this emergency.
Such a recovery, if one is possible at all, could take years.
Even if the system does recover, a franchisee’s business in future may be worth less than it would have been prior to the administration. This loss of business value can cause major problems for franchisees who are heavily geared and may ultimately sell at a loss, or who planned to fund their retirement using the proceeds from the sale of their business, which may now be insufficient.
Unless franchisees themselves are creditors (which is rare), this loss of franchisee business value, or the imperative to maintain franchisee business value, is incidental to administrators whose sole focus is to maximise the returns to creditors.
9. Significant ongoing personal liabilities
If a franchisor collapses, franchisees may be left without a business to trade if their supply of unique products ceases to exist.
Because Kleenmaid stores sold only Kleenmaid products, when these were no longer available following the collapse of the franchisor, the stores could not switch suppliers and continue to trade.
If this occurs, franchisees may have no choice but to close their stores, while continuing to pay the significant ongoing costs of shop leases, business loan repayments, and chattel mortgages for shop fit outs, fixtures and fittings. These ongoing liabilities can be a blight that weighs down a franchisee long after the collapse of their franchisor.
10. Radicalisation of corporate culture
If a buyer is found for an insolvent franchisor, the new owner will inevitably want to put their own stamp on the business and make changes to ensure its ongoing survival.
The nature of the buyer, and the changes they will seek to implement, might clash with franchisees and appear at odds with the corporate culture under the former owners. For many franchisees, a change of ownership will require them to adapt to new management and new ways of doing things. These changes can be relatively minor, incremental and easily adaptable, or can be major, radical and disruptive to the organisational culture and brand values.
Conclusion
This is not an exhaustive list, but should give pause for thought to any existing franchisee concerned about the future of their network, any potential franchisee who needs to asses the risks of what might happen in a worst-case scenario, and any insolvency practitioner who might one day find themselves managing a franchise network in administration.
Most importantly, this list should also serve as a reminder to franchisors that an inability to adapt to a changing market and poor management has consequences for those around them, especially their franchisees.
Jason Gehrke is the director of the <a href="https://www.franchiseadvice.com.au/" target="_blank">Franchise Advisory Centre </a>and has been involved in franchising for 20 years at franchisee, franchisor and advisor level.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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10 risks to franchisees when companies go bust

Victorian election real estate dramas: Underquoting and "election stunts"

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Most property investors only own one property and fall into the category of middle class, according to Ed Chan, the founder of Chan &amp; Naylor Property Accountants.
"They certainly are not considered 'rich'," he said.
"In fact they should be applauded for the sacrifice to their lifestyle (due to the shortfall created by negative gearing) as they attempt to invest for their future and in so doing, reducing the government's burden in providing them an old age pension when they retire."
Chan said these investors saved the government billions of dollars by not having to provide public housing for those unable to buy their own homes currently. 
Supply is a very important factor as successive governments have not provided the policies to generate more supply in past years, said Chan.
"You may recall that the Keating government attempted to remove negative gearing in the eighties but reversed their decision when the queues for public housing doubled."
"Whilst taxpayers have claimed a total of $13 billion in losses in their tax returns the actual revenue forgone by the government is calculated at their individual tax rates. 
"Thus at an average tax rate of 35% the lost revenue is only $4.5 billion.
"So the government has not lost $13 billion dollars by allowing negative gearing but rather $4.5 billion is the actual dollars forgone.
"Public housing provided by the government only accounts for around 4% of investment properties.
"The other 96% of housing is provided by the private investor," he argued.
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