<a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a> has announced that its <a href="https://www.apartments.com.au/new-townhouses/lovedale-farm-1054-1184-wine-country-drive-lovedale-nsw-2325">Lovedale Farm</a> residential, resort and golf project has secured $24.6 million in sales in just three weeks since the opening of its display home, underscoring the appetite for premium lifestyle property in the Hunter Valley countryside.

The sales milestone has been driven by a diverse mix of buyers, including owner-occupiers and investors from Sydney, Newcastle and the local Hunter region, purchasing both land-only lots and house and land packages across the development.

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="e173edc9-e60e-4f19-a060-9dc4421a3233" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/LovedaleFarm_20250215-1.jpg?VersionId=1LY6CvOaD.Dzrt8tWpWxXtPyfchixNIo" />

&nbsp;

The result builds on the momentum generated at the display home opening on 22 March, which attracted more than 460 attendees.

With house and land pricing from $1.14 million, Lovedale Farm continues to attract strong interest from buyers seeking a premium lifestyle offering at a compelling price point. The development’s vision, a championship golf course, future epicurean village and access to the Hunter Valley’s celebrated wine country, has resonated with a broad buyer profile, from first-time investors to those looking to make the move and call the Hunter Valley home.

<img alt="Lovedale Farm records $21.4 million in sales in three weeks" data-entity-type="file" data-entity-uuid="b358e789-e1eb-40ed-8105-ed5c8297136f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--6.jpg?VersionId=6GUO8TNnxuELONrsM6n9imDB6oc82Bor" />

Jim Hunter, Managing Director of Capital Corporation said the response since opening the display home has been encouraging.

"To reach $24.6 million in sales in just three weeks speaks to the genuine demand for a lifestyle community of this calibre in the Hunter Valley," Hunter says.

"We’re seeing buyers from across the region and beyond, including investors who recognise the long-term value, and owner-occupiers who simply want to live somewhere truly special.

“Lovedale Farm is two decades in the making, and the market’s response is everything we hoped for. We’re excited to see these first buyers become part of the Lovedale Farm story from the very beginning."

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="54d985cf-2ac2-400b-ac02-4401f3421ac7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--5.jpg?VersionId=3866bPoqpLZsm.3ACg9EafAr1W3miC_f" />

&nbsp;

Spanning 240 hectares on Wine Country Drive in <a href="https://www.apartments.com.au/developments/lovedale-nsw-2325">Lovedale</a>, the $1 billion development is expected to deliver around 1,250 jobs during construction and inject more than $300 million into the local economy. The first 200 homes and championship 18-hole golf course are anticipated for completion in late 2027.

Capital Corporation has also lodged development plans for the Lovedale Farm clubhouse, set to become a vibrant hub for residents and the wider Hunter Valley community. Further releases are planned for later this year.

[smartcode_project_cta:default project_id=14476]

Joel Robinson

Lovedale Farm display home opening triggers $24.6 million in sales in three weeks

Prominent Malaysian developer <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a> has unveiled <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">Aura</a>, the next stage of its $3.5 billion Melbourne Square precinct in Southbank, continuing its push into wellness-led, amenity-rich apartment living.

The $800 million tower, planned for 7 Hoff Boulevard, will rise 67 storeys and deliver 673 apartments, with COX Architecture drawing on both Japanese design principles and Australia’s natural landscape to shape the building’s identity. A rectangular grid aesthetic defines the building’s exterior, with COX drawing design cues from New York high-rises and Tokyo’s skyline.

Aura builds on a growing trend in high-density living, where wellness is no longer an add-on but central to the product. The development is structured around four key pillars, combining calm, minimalist residences with layered communal spaces, landscaped gardens, and a suite of wellness amenities designed to support both physical and mental wellbeing.

[smartcode_project:default project_id=151921 project_image_fid=367465]

At the core of the project is what OSK describes as a vertical wellness ecosystem, a multi-level approach to amenity that integrates health, lifestyle, and social spaces throughout the building rather than confining them to a single level.

The main resident hub, the Aura Club on level seven, will include a pool, cold plunge, spa, gym, Pilates and yoga studios, alongside more lifestyle-driven inclusions like a golf simulator, music rooms, library, and work-from-home spaces. Above, a series of higher-level amenity zones, including the Meridian Club and Cumulus Club, introduce more refined, social and retreat-style environments, with private dining, lounges, and premium wellness spaces positioned to take advantage of city views.

[smartcode_project:default project_id=151921 project_image_fid=367467]

The residences themselves will largely include balconies, a key design move in a market increasingly focused on natural light, airflow, and connection to the outdoors. Views will extend across the CBD, the Arts Precinct, Royal Botanic Gardens, and beyond.

Aura also introduces approximately 1,600 sqm of retail across the lower levels, further activating the Melbourne Square precinct, which already includes Kennedy Park, a Woolworths, childcare, and a growing mix of hospitality operators.

[smartcode_project:default project_id=151921 project_image_fid=367474]

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after <a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>," says&nbsp;OSK Property CEO Chong Boon Woon.

“We have been very encouraged by the market’s response to the BLVD offering, and we know there is a strong demand for the level of amenity, service and design that the Melbourne Square precinct is known for.

“Complemented by work-from-home lounges for professionals, family friendly outdoor garden spaces, and state-of-the-art fitness and wellness facilities, Aura will continue our focus on maximising physical, emotional, and mental wellbeing,” he said.&nbsp;

[smartcode_project:default project_id=151921 project_image_fid=367475]

The project follows the strong performance of BLVD, which is now around 80 per cent sold, and reinforces OSK Property’s long-term commitment to Melbourne Square as a fully integrated, mixed-use precinct.

Construction is expected to commence in late 2026.

[smartcode_project_cta:default project_id=151921]

OSK unveils AURA, the latest stage in Southbank's $3.5 billion Melbourne Square precinct

National developer Time &amp; Place appears to have settled on a design for its long-anticipated Potts Point project.

After several years of back and forth with local council and the NSW Government, the developer, which has spent seven years targeting the former The Chimes site on Macleay Street, has now progressed its plans.

Following a concept design submission last year by SJB, Time &amp; Place has lodged a full State Significant Development Application with the NSW Government, this time for a scheme designed by Kerry Hill Architects.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="504d2a27-d65f-4227-8189-1e35e3376e62" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.38.24%E2%80%AFAM.png?VersionId=_XqFKATYHF30KnVByPxhaI9UBzmkmfn7" />

The 16-storey proposal includes 44 apartments, 21 of which will be build-to-sell. These will comprise 19 three-bedroom apartments and two four-bedroom units.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 studio apartments to be delivered in line with the NSW Government’s Housing SEPP.

Kerry Hill Architects said the proposal is driven by a strong response to place.

“Our proposal for a new residential building for Potts Point in Sydney is driven by a deep consideration of place,” the practice said in its submission.

“This operates on multiple levels, including a landscape approach that reinstates endemic flora of the Sydney peninsula and provides a ground-floor garden for residents, reconnecting the site to its pre-European history. A brick podium further strengthens this relationship to context, integrating planting and fine bronze detailing that references the predominant material language of Macleay Street.”

The three-level podium will be topped by a communal resident space, featuring a covered pool designed to receive direct afternoon sun in winter, a neighbouring reflection pool, dining and event areas oriented to maximise sunset views, and an outdoor exercise zone.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="8d3eedc1-babb-44a3-bd96-d8a42f3adf1f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.37.48%E2%80%AFAM.png?VersionId=Ii7.4dvqNatu5GQi6bhqNjAswrMB998." />

The design also incorporates highly crafted shopfronts and a clearly defined residential entry to activate the street. Juliette balconies to the podium residences will provide passive surveillance and a strong sense of habitation.

Above, the larger apartments are housed within a light-coloured masonry and bronze tower.

“The tower steps back in a series of gently curved volumes that reference the rich Art Deco context of Macleay Street,” the architects said. “Carefully calibrated vertical fins frame the views while providing privacy and a sense of refuge.”

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="6fab60f4-3140-4469-b47a-48c781e0a30b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.28.44%E2%80%AFAM.png?VersionId=e5XxrM3kzdASdKlcIACHAHbOSZhSKC9O" />

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in South Melbourne.

The developer has approval for The Burke, a mixed-use project in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;being delivered in partnership with Woolworths. The 60 apartments, positioned above a new Woolworths supermarket, are expected to launch in the coming months. Time &amp; Place is also progressing plans for the redevelopment of&nbsp;<a href="https://www.apartments.com.au/developments/northcote-vic-3070">Northcote</a>&nbsp;Plaza, and have recently submitted plans for a <a href="https://www.apartments.com.au/news/vic/time-place-unveils-plans-22-storey-south-melbourne-tower">22-storey tower</a>, another in South Melbourne.

In&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw">Sydney</a>, the developer has two projects in Manly: Two Tides, which is currently under construction, and an ultra high-end building on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach. It is also continuing to work through the redevelopment of The Chimes building on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as Marlborough House, the redevelopment of the original David Jones warehouse building in&nbsp;<a href="https://www.apartments.com.au/developments/surry-hills-nsw-2010">Surry Hills</a>.

First look: Time & Place settles on design for The Chimes, Potts Point redevelopment

<a href="https://www.apartments.com.au/developers/develotek">Develotek</a> is joining the likes of TOGA, Deicorp, and One Global Capital, betting on a boom in Five Dock ahead of the 2032 mooted opening of the Five Dock Metro Station.

Develotek, which is currently developing Bianca on the Drummoyne waterfront and has plans approved for a tower in Chatswood, has filed a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/79-81-queens-road-five-dock-nsw-2046">two-building project in the evolving Kings Bay precinct</a>.

The buildings, one more boutique just five storeys and the other 26 storeys, will rise from an 3,158 sqm site across&nbsp;79–81 Queens Road and 2–8 Spencer Street, will home 134 one-, two-, and three-bedroom apartments, above ground-floor retail and five basement levels of parking.

A key component of the proposal is the inclusion of 15 per cent of residential floor space as in-fill affordable housing, unlocking additional height and density under the Housing SEPP.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="3ee31bf7-75ba-4bc5-b190-49885193219f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_2.png?VersionId=730UbrduuwK3C1sO28RHjiLPUPqXqjkh" />

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the scheme adopts a podium-and-tower configuration, with a five-storey street wall along Queens Road transitioning to a 26-storey tower set deeper into the site. The ground plane prioritises activation and permeability, with retail frontages and a new through-site link connecting Queens Road to Spencer Street.

At the upper levels, the tower façade has been conceived using a modular system to support prefabrication and reduce construction waste, while improving build efficiency. The splayed form draws on the geometry of surrounding industrial rooftops, reinterpreting the area’s heritage in a contemporary expression while also helping to reduce solar heat gain to east and west-facing apartments.

“This project aspires to transform a former industrial site into a connected, resilient and people-focused urban community, grounded in Country, shaped by history, and designed to enrich everyday life within the evolving Kings Bay Precinct,” said John Walsh, Principal at Plus Studio.

The proposal reflects the broader transformation of the Kings Bay Precinct under the Parramatta Road Corridor Urban Transformation Strategy, marking a shift from its industrial past to a higher-density, mixed-use urban neighbourhood.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="abde734c-1e31-4a97-a1d2-fa9bcf31c380" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/building%20podium.png?VersionId=fNUupP6u146yEytQT31kKVRxwtACgPpP" />

Develotek is emerging as an active participant in the state’s affordable housing-led uplift pathway. The developer recently secured approval for a 34-storey mixed-use tower in Chatswood, where it similarly leveraged the in-fill affordable housing provisions to increase scale and deliver a 101-unit scheme with dedicated affordable apartments.

Their entry into Five Dock places them alongside a growing list of developers targeting the suburb ahead of its anticipated transport uplift, with Sydney Metro set to extend into the area. Major players including TOGA, Deicorp, and One Global Capital are all progressing large-scale precinct-style developments nearby, collectively reshaping the low-rise industrial fabric into a higher-density mixed-use corridor.

The Five Dock site sits within the Kings Bay Precinct, a key renewal area under the Parramatta Road Corridor Urban Transformation Strategy, where planning controls support significant uplift tied to affordable housing delivery. The consolidated 3,158 sqm site is currently occupied by low-rise industrial uses, including warehouses and vehicle workshops, earmarked for transition.

First Look: Develotek joins in Five Dock apartment boom

Ascot’s Racecourse Road continues to be a hive of activity for Brisbane developers.

Following Fortis and GRAYA, which are both preparing new projects along the key strip connecting Kingsford Smith Drive and Eagle Farm Racecourse, local developer <a href="https://www.apartments.com.au/developers/skyhold">Skyhold</a> is the latest to lodge plans for its own development.

The group is proposing One One Two Residences, a boutique project comprising just seven apartments, named after its address at 112 Racecourse Road.

The proposal outlines a five-storey building on an 810 sqm site. The built form slightly exceeds the four-storey expectation under the neighbourhood plan, aligning instead with the emerging character of the strip. As the planning report notes, “the locality is characterised by a transition toward medium-rise residential development, with a number of recent developments… above the stipulated height limits.”

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="ec577631-8c51-4163-960e-e7b3a77d655b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot.png?VersionId=iAzQ46D4Uu1UqiS0mVnlcy9jeFKBpJIj" />

Designed by 111 with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/paul-bangay-garden-design">Paul Bangay Studio</a>, the scheme adopts a layered architectural approach with strong articulation and a subtropical response. Deep balconies, integrated planters, and a mix of masonry and textured finishes define the façade, while upper-level setbacks reduce perceived bulk. The architectural statement describes “a series of horizontally expressed layers, defined by deep balconies and a consistent robust material palette,” aimed at delivering a refined streetscape presence.

Apartments are configured as large-format residences, including multiple three-bedroom layouts and a full-floor penthouse, supported by ground-level parking. A rooftop terrace will provide communal amenities including a pool and landscaped recreation areas. The design prioritises privacy, natural ventilation, and greenery, with planting integrated across all levels to soften the building form and contribute to the public realm.

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="1e1219bd-b45a-4d7f-bbc7-7207d7b2fc94" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot%20entry.png?VersionId=JIoUOLMgQ5xWpEF0etEI3ffIoIVjD7gO" />

The proposal sits within the Racecourse Road precinct, a key mixed-use spine in Ascot that continues to attract renewed development interest.

Later this year national developer Fortis will launch its own boutique development, which, pending council approvals, will be 16 apartments designed by Koichi Takada Architects, just down the street.

“Racecourse Road is going through a massive revitalisation and we’re proud to be a part of that transformation,” said Fortis's QLD General Manager, Dan Boman.

Nearby, GRAYA is advancing its larger-scale The Gallery, a mixed-use shop-top housing project designed to act as a “catalytic project for Racecourse Road.”

First Look: Racecourse Road, Hamilton revitalization to continue as Skyhold joins the party

Accc

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Unaffordable home, contents and strata insurance is a major challenge to the liveability and prosperity of communities, towns and cities across northern Australia, but a range of actions could help address this, according to a major report published by the ACCC.

The final report of the ACCC’s three year Northern Australia Insurance Inquiry shows that home, contents and strata insurance premiums are, on average, considerably higher in northern Australia than the rest of the country, and over the past decade have increased at a faster rate.

Rising insurance costs are leading to higher rates of non-insurance in northern Australia, leaving more households and communities financially vulnerable to the impact of severe weather events, and potentially hurting the economic development of the region.

Insurers are increasingly assessing and pricing risk, based on a home or building’s individual characteristics and address rather than at a postcode or regional level, especially for cyclone or flood risk. This has resulted in very significant premium increases for some households.

“This inquiry has examined insurance in northern Australia in unprecedented breadth and detail, using an extensive volume of documents and data from insurers, and taking in significant information and feedback we have received from industry, local residents, consumer groups and communities across northern Australia,” ACCC Deputy Chair Delia Rickard said.

“We know that there are real reasons for more expensive insurance premiums in northern Australia. The risk of extreme weather is higher and it can be costly for insurers to service these regions. However, different insurers can quote vastly different premiums for the same property. While many consumers could save by switching, it is harder than it should be for consumers to shop around.”

“Our analysis has shown that, with the right actions, northern Australian insurance markets could work much better for consumers. We believe our wide-ranging recommendations would address many of the problems we have identified,” Ms Rickard said.

“Many of our recommendations, if adopted more broadly, could also benefit consumers and insurance markets across Australia.”

The ACCC has made 38 recommendations in this final report, including 11 new recommendations, that seek to improve outcomes in the short, medium and long term.

The inquiry considered a range of options that have been suggested to governments to improve affordability. The ACCC has recommended that, if governments want to provide immediate relief to consumers facing acute affordability pressures, subsidies be used in preference to other measures such as government reinsurance pools.

“Direct subsidies can be used in a highly targeted way to relieve some of the acute financial pressures faced by households in specific areas, at a lower cost and more effectively than other measures,” Ms Rickard said.

“We do not believe that government insurers and reinsurance pools can lower premiums without the government subsidising the insurer in some way. These measures also can’t be targeted to those consumers most in need, and so are more costly. Further, they involve transferring significant risks from insurers and reinsurers to governments, who are not well placed to manage them.”

Other recommendation that would provide immediate assistance include abolishing stamp duty on home, contents and strata insurance or, if it is maintained, that it be based on the sum insured of a property rather than the premium amount. The report notes that the rise in premiums on insurance in northern Australia has resulted in significant windfall gains for state and territory governments.

“We continue to advocate that a portion of any stamp duty revenue should be devoted to improving affordability of insurance for low income consumers or to funding mitigation works,” Ms Rickard said.

“However, the best outcome for consumers would be for stamp duty to no longer be applied to home, contents and strata insurance, which are often considered essential products that some households struggle to obtain.”

We also recommended that insurers provide more short-term help for customers struggling to pay their premiums when due, such as by deferring payments, reducing or waiving surcharges for monthly payments, or offering payment plans.

“The industry has no standard approach to assisting customers struggling to pay their premiums,” Ms Rickard said.

“It is crucial that we help households hold onto their insurance, because becoming uninsured can result in much greater financial hardship in the future if homes or possessions are impacted by a severe event.”

Better disclosure of surcharges imposed on monthly instalments has also been recommended, so that consumers can compare the difference in cost in dollar terms between paying annually or monthly. Some insurers apply a surcharge of up to 20 per cent, which can add hundreds of dollars a year to the cost of insurance.

The inquiry has also made a series of recommendations relating to risk mitigation, including new recommendations designed to make insurance more affordable in the future by reducing the risk of property loss or damage.

These include expanding the remit of the Australian Building Codes Board to explicitly include property protection as an objective when developing the National Construction Code, and that Standards Australia and the insurance industry develop voluntary standards for more resilient buildings, for both new homes and for retrofitting of existing homes.

“Importantly, we are calling on the insurance industry to commit to taking into account resilience measures when setting premiums,” Ms Rickard said.

The inquiry also looked at how risk data could be better shared and at improvements to land use planning.

The new recommendations add to the previous recommendations made by the inquiry over the past three years. These have included measures to make pricing more transparent, a ban on conflicted remuneration for insurance brokers and strata managers and that a national home insurance comparison website be considered.

During the past three years the ACCC considered more than 420 submissions and held public forums in Townsville, Cairns, Rockhampton, Mackay, Broome, Karratha, Darwin and Alice Springs.

“We have heard first-hand how many residents of northern Australia are struggling to find suitable and affordable insurance in this market, and the considerable impact this is having on them and their communities,” Ms Rickard said.

“We believe the work of this inquiry and the implementation of our recommendations will make a difference for people living in northern Western Australia, northern Queensland and the Northern Territory, and contribute to the long-term prosperity and liveability of this important part of Australia.”
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The final report of the ACCC’s three year Northern Australia Insurance Inquiry shows that home, contents and strata insurance premiums are, on average, considerably higher in Queensland than the rest of the country

urban.com.au

Regional Queensland communities need more affordable strata insurance: ACCC

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The Australian Competition &amp; Consumer Commission (ACCC) will not oppose Australian Finance Group Ltd's proposed acquisition of Connective Group Pty Ltd.
As mortgage aggregators, both AFG and Connective act as intermediaries between mortgage brokers and lenders, such as banks. 
In their statement of issues in February, the ACCC identified a number of preliminary concerns with the proposed acquisition that will create the largest mortgage aggregator in Australia. 
After completing a second round of enquiries, ACCC chair Rod Sims says: "After our extensive public review of the acquisition and our consultation with a wide range of interested parties, we believe the combined AFG-Connective is likely to continue to face robust competition.”
“Mortgage brokers will still have a range of other aggregators, should they become dissatisfied with the combined AFG-Connective’s pricing or service. Lenders will likewise have a range of aggregators through which they can access potential consumers,” Mr Sims said.
The combined AFG-Connective is likely to have the incentive to retain lenders on their panel who are popular with consumers to attract brokers. 
The ACCC ultimately found that substantial lessening of competition was not likely. 
Other established aggregators, including Finsure and the aggregators owned by the National Australia Bank, are likely to continue to provide strong competition.
Further information is available at <a href="https://www.accc.gov.au/public-registers/mergers-registers/public-informal-merger-reviews/australian-finance-group-ltd-connective-group-pty-ltd">Australian Finance Group Ltd - Connective Group Pty Ltd</a>.
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j.ballantyne1990-6AQqhLzZaK

ACCC does not oppose AFG-Connective mortgage aggregator deal

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The Australian Competition and Consumer Commission (ACCC) has instituted Federal Court civil proceedings against construction company J Hutchinson Pty Ltd and the Construction, Forestry, Maritime, Mining and Energy Union (CFMMEU).
The proceedings were raised over alleged boycott conduct at a building site in Brisbane, following an agreement in 2016 between the CFMMEU and Hutchinson, one of Australia’s biggest privately owned construction companies.
According to a document lodged to the Federal Court, Hutchinson allegedly agreed to terminate the contract of an independent waterproofing subcontractor working on the Southpoint A Apartments construction project in South Brisbane.
The ACCC alleges that Hutchinson terminated the subcontractor to avoid conflict with, or industrial action by, the CFMMEU at the site as the waterproofing subcontractor was not covered by an enterprise agreement with the CFMMEU.
Hutchinson contravened sections 45E and 45EA of the Competition and Consumer Act, which prohibit contracts, arrangements or understandings for the purpose of preventing or hindering the acquisition of goods or services from a supplier, according to the ACCC.
“Tackling anti-competitive conduct in the construction industry is a priority for the ACCC, and this includes boycotts like the one alleged to have taken place here,” ACCC chair Rod Sims said.
“Boycotts are extremely detrimental to competitive markets and the economy, and can do great damage to those businesses targeted. Given this, we will take action to detect and deter such conduct whenever we can.”
The ACCC is seeking declarations, injunctions, pecuniary penalties, orders for findings of fact, compliance training and, against the CFMMEU only, adverse publicity orders.
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ACCC takes civil action against CFMMEU and construction giant Hutchinson

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Australia’s east coast gas users are paying prices significantly above export parity prices, the ACCC’s latest gas report reveals.
The ACCC’s Gas Inquiry 2017-2025 Interim Report, released today, shows that prices offered to domestic gas users in late 2019 and early 2020 ranged from $8 to $11/GJ.
While this was down slightly from the $9 to $12/GJ range observed earlier in 2019, this price decline was not in line with the significant and sustained drop in LNG netback prices, which were for 2021 delivery below $6/GJ by early 2020 and have been below $5.50 since May.
“The ACCC is very concerned with the widening gap between domestic and export parity prices, which will have an inevitable impact on Australia’s industrial sector during what is already a difficult economic period,” ACCC Chair Rod Sims said.
“Queensland LNG producers sold 18 LNG spot cargoes into international markets in late 2019 and early 2020, equivalent to more than 10 per cent of annual domestic east coast demand. This gas was sold at prices substantially below domestic gas price offers, showing the importance of our continuing work to understand the drivers behind the price levels we are seeing across the domestic market.”
“It is also clear that recent Australian contract gas prices do not reflect overseas forward prices.”
“I am yet to hear a compelling reason from LNG producers as to why domestic users are paying substantially higher prices than buyers in international markets.”
“When we have lower gas prices around the world, and the Australian market linked to world gas markets, it is vital that Australian gas users get the benefit.”
Recommendations to address price concerns
The ACCC recommends the extension of the existing Commonwealth Government’s Heads of Agreement with LNG producers, due to expire at the end of 2020, because of the demonstrated capacity of LNG producers to supply additional gas into the domestic market when needed.
“As well as extending this Heads of Agreement, we think the government should consider strengthening the agreement’s price commitments,” Mr Sims said.
“For example, reference could be made to LNG netback price expectations and the prices LNG exporters could expect to receive for uncontracted gas in overseas markets over the relevant period.”
“Extending the Heads of Agreement is one measure that can be adopted now. Further measures are also needed to ensure adequate supply of appropriately priced gas over the longer term,” Mr Sims said.
With the southern states facing the greatest risk of shortfall in the future, the ability of market participants to transport gas from Queensland into southern markets remains critical.
The ACCC therefore recommends governments consider whether further measures are needed to see timely investment in north-south transportation infrastructure particularly, or import terminals on the east coast.
The ACCC also recommends that governments seek to increase the diversity of suppliers when granting new tenements, as greater competition between suppliers would be more likely to bring down domestic prices. Measures such as active tenement management should also be used to ensure producers bring gas to market in a timely manner.
Gas supply for 2021 and COVID-19 impacts
Australia’s east coast gas market is expected to have sufficient supply in 2021, with the LNG producers in particular having surplus gas, but the risk of a shortfall in the southern states in the medium term has increased, the ACCC’s report finds.
More than 20 per cent of southern states’ production in 2021 is expected to come from undeveloped ‘2P’, or proven and probable, reserves. At the same time last year, only eight per cent of southern supply had been forecast to come from undeveloped 2P reserves in 2020.
“The impacts of COVID-19 and the collapse in oil prices are being felt at all levels of the gas supply chain, and they have highlighted key areas of dysfunction in the market,” Mr Sims said.
“The cumulative effect on gas users is significant and exacerbates the difficulties being experienced by many commercial and industrial users.”
The report is available at <a href="https://www.accc.gov.au/regulated-infrastructure/energy/gas-inquiry-2017-2025/july-2020-interim-report" target="_blank">Gas Inquiry</a>
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Domestic gas users paying too much: ACCC

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The Federal Court has ordered Quantum Housing Group Pty Ltd to pay $700,000 in penalties for making false or misleading representations relating to the National Rental Affordability Scheme (NRAS).
Between February 2017 and July 2018, Quantum sent a series of misleading letters and emails to at least 450 investors who had rental dwellings participating in the NRAS scheme, and pressured them to terminate their arrangements with their existing property managers and instead use property managers approved or recommended by Quantum.
Quantum failed to tell investors that it had commercial links with the property managers it recommended.
Quantum also told some investors that their existing property manager had not properly managed their property’s compliance with the NRAS, when this was not true.
“This conduct was blatant, planned and deliberate in an effort to trick investors into switching from their preferred property managers,” ACCC Chair Rod Sims said.
Quantum admitted that it falsely represented that property managers must meet accreditation guidelines issued by Quantum, and that investors who failed to appoint an approved property manager were in default of their agreement with Quantum and risked losing their NRAS incentives.
The Court also ordered Quantum’s director, Cheryl Howe to pay $50,000 in penalties for being knowingly concerned in Quantum’s breaches of the Australian Consumer Law. Ms Howe was also disqualified from managing a corporation for three years.
“The penalties ordered against Quantum and Ms Howe serve as a warning that making false or misleading statements will result in serious consequences not just for the company involved but also any executive or employee found to be knowingly concerned in the conduct,” Mr Sims said.
Quantum and Ms Howe admitted liability and made joint submissions to the Federal Court with the ACCC.
The ACCC had also alleged that the conduct engaged in by Quantum was unconscionable conduct. However, the Court found the admitted conduct did not depend on exploiting vulnerability on the part of investors, and in those circumstances was not satisfied that the conduct was unconscionable.
Quantum ceased trading in December 2019 and is in liquidation.
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Quantum Housing to pay $700,000 for misleading property owners: ACCC

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New guidelines, published by the ACCC, will assist electricity retailers and generators to comply with laws aimed at protecting consumers and businesses from excessive electricity prices.
The laws prohibit electricity retailers from keeping consumer and small business prices unnecessarily high when costs fall, and prohibit generators from inflating wholesale prices or blocking access to critical contracts, which could increase retail prices. The laws will form part of the Competition and Consumer Act and come into effect on 10 June 2020.
The guidelines provide examples and information to help industry comply with the laws and were prepared after consultation with stakeholders.
“These new laws commence at a time when the affordability of energy is particularly pressing for so many Australian businesses and households, as communities are impacted by the COVID-19 pandemic. Our guidelines help electricity companies to comply with these laws aimed at achieving fairer prices for consumers,” ACCC Chair Rod Sims said.
“Wholesale prices have reduced significantly over the past couple of months, so retailers should be assessing their prices and ensuring that they are prepared when the new laws come into effect in June.”
The ACCC’s role is to enforce compliance with these laws. Competition and consumer issues in electricity are key compliance and enforcement priorities for the ACCC.
The ACCC will continue to closely monitor the behaviour of companies in the electricity markets and has a range of enforcement tools available, including public warning notices, infringement notices and commencing legal proceedings in the Federal Court alleging that companies have breached these laws.
“These new laws will enable us to take electricity companies to court if we have evidence that they are engaging in prohibited conduct in breach of these new provisions,” Mr Sims said.
The new laws prohibit the following conduct:
- The ‘retail pricing prohibition’ prohibits electricity retailers from charging small customers prices which are not adjusted to reflect sustained and substantial cost reductions in their underlying costs.
- The ‘electricity financial contract liquidity prohibition’ prohibits generators from restricting access to electricity hedging contracts for an anti-competitive purpose.
- The ‘electricity spot market prohibitions’ prohibit bidding practices by generators which are engaged in fraudulently, dishonestly or in bad faith and/or for the purpose of distorting or manipulating prices in an electricity spot market.
The new guidelines are available at <a href="https://www.accc.gov.au/publications/guidelines-on-part-xica-prohibited-conduct-in-the-energy-market">Guidelines on Part XICA - Prohibited conduct in the energy market</a>.
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New guidelines to protect consumers and businesses from excessive electricity prices: ACCC

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EXPERT OBSERVER
The ACCC has moved quickly to reprioritise its work and direct resources towards delivering on issues stemming from the extraordinary economic disruption caused by COVID-19, which I will touch on today. We continue to deliver on pre-existing priorities or essential work but, like so many organisations, our focus has had to shift.
While we have closed our offices to the public, we are still operating surprisingly well. Our efforts to become a more flexible workforce over the past few years has paid off, with over 97 per cent of our employees now working from home each day. This is an enormous, complex shift and one I am sure many of you have had to navigate yourselves.
The ACCC’s COVID-19 Taskforce is rapidly responding to a large number of issues impacting Australian consumers and businesses as a result of the COVID-19 pandemic.
We have received thousands of phone calls, emails and social media reports from consumers and businesses seeking information and are working swiftly to address areas of harm to consumers and advising businesses about their obligations.
The ACCC Taskforce is focusing on early intervention by engaging directly with businesses, relevant state and federal government agencies, and consumer and other representative groups.
Our aim is to address immediate problems being faced by consumers in relation to cancellation of services and failure to obtain refunds and remedies, and working with expert teams across the agency to ensure we can quickly get to the heart of the issues being raised with the ACCC and work to fix them.
Below I will outline a number of successful early interventions by the ACCC Taskforce and other discussions and investigations that are continuing.
Cancelled travel and accommodation services
Various restrictions in place for domestic and international travel have been the main source of consumer complaints. Many consumers are unhappy with the remedies being offered.
<ul>
<li>
Travel services provider: after receiving a high number of complaints around the charging of 'change fees' in circumstances where flights were cancelled, the ACCC contacted the business, which agreed not to charge for changes to existing bookings and agreed to offer a fee free travel credit to consumers. There are however continuing issues in relation to another type of conduct by that same business that the ACCC is working to resolve, along with other state and territory fair trading agencies.
</li>
<li>
The ACCC is also following up several businesses selling package tours that are alleged to have recently changed contract terms and conditions. The companies are assessing customer claims for refunds or credits vouchers on the basis of the new terms, rather than the former contract terms that were in place when the consumer booked the package.
</li>
<li>
A second travel services provider: the ACCC is working to resolve a concerning issue receiving a large number of customer complaints, with allegations that the business is failing to provide refunds in line with its terms and conditions.
</li>
<li>
Council of Travel Operators: the ACCC has met with the Council in an attempt to understand the various issues impacting a number of travel companies and the impact that this is having on consumers.
</li>
<li>
Airline: The Taskforce contacted the airline following reports of incorrect advice being given around refunds. The errors were attributed to issues impacting overseas call centres, unprecedented demand, and new team members rapidly joining teams. Senior staff apologised for the error and have ensured correct advice is being provided to all impacted customers.
</li>
</ul>
Subscription services – gyms, food and pay TV
With the restrictions imposed by governments at all levels in relation to social distancing and businesses being able to remain open, operations of certain businesses, there have been a considerable number of reports of consumers navigating these changes.
<ul>
<li>
A major gym chain: was charging customers a weekly ‘freeze’ fee for the period their gyms will be closed. Following the Taskforce’s intervention, the gym immediately ceased this practice.
</li>
<li>
There are a number of other gyms that continue to deduct these fees and the ACCC is contacting them directly.
</li>
<li>
In the franchising sector there are reports that some franchisors are still trying to collect franchising fees, when the businesses have minimised their operations. This is a matter that the ACCC is following up as a matter of urgency.
</li>
<li>
Foxtel: a number of complaints from consumers unable to contact Foxtel to cancel or suspend subscriptions. It has assured the ACCC Taskforce it was urgently increasing call centre capacity which had been shut down because of COVID-19 lockdown measures overseas.
</li>
<li>
A subscription meals provider was unable to source supply to meet its orders and contractual obligations. The Taskforce contacted the business and the business undertook to provide full refunds to impacted customers.
</li>
</ul>
Payment process providers for the fitness industry
After hearing that payment processors were suspending debits being made on behalf of small business gyms and fitness studios on the basis of 'ACCC advice', the Taskforce contacted them to ensure that their clients were not being unfairly treated.
We were informed that the companies wanted to ensure they were collecting payments from consumers who had signed up for new services. We also obtained assurances that the businesses had the ability to contact these finance companies if there were problems with customers’ accounts.  
COVID-19 product claims
Some business have represented to consumers that they sell a product that prevents COVID-19 or they provide a service that prevents infection by COVID-19.
<ul>
<li>
The ACCC was alerted to an ASX listed company claiming that its hand sanitiser product it had been tested as effective against COVID-19, when it was tested against a recognised surrogate. The company subsequently clarified the statement it made to the ASX.
</li>
<li>
The Taskforce is investigating claims that a company is alleged to be urging consumers to get their plumbing serviced to prevent the spread of COVID-19.
</li>
</ul>
Excessive price increases, also known as price gouging
In relation to COVID-19 there have a large number of complaints regarding excessive pricing around personal protective equipment (face masks and sanitiser) and some other grocery items.
The ACCC cannot prevent or take action to stop excessive pricing, as it has no role in setting prices. But in some circumstances excessive pricing may be unconscionable, for example where the product is critical to the health or safety of vulnerable consumers. If a business makes misleading claims about the reason for price increases, it will be breaching the Australian Consumer Law.
<ul>
<li>
Recently the Australian Federal Police has been given new powers under the Biosecurity Act to prevent price gouging. The prescribed products are disposable gloves, disposable gowns, goggles, glasses, or eye visors used for limiting the transmission of organisms to humans, or of alcohol wipes and hand sanitiser. It is now an offence to resell or offer to resell these products, if they were purchased in a retail transaction, at 20 per cent or higher than the original price paid.
</li>
<li>
Online platforms: the ACCC engaged with Amazon, Facebook, eBay and Gumtree to understand measures the companies have in place to prevent the sale of these products at excessive prices. We received some assurances the platforms have mechanisms in place, but are encouraging increased vigilance and will continue to monitor.
</li>
<li>
Supermarkets: the unprecedented demand for supermarket goods has also created shortages across a range of other product lines, which has impacted supply. We have also heard a number of concerns about the high price of some fresh produce, including fruit, vegetables and meat. Higher fresh produce prices had been predicted as early as January due to the drought and the bushfires, which have contributed to a supply shortage and led to higher prices for some items.
</li>
</ul>
Private health insurance
<ul>
<li>
The ACCC received complaints that consumers were not able to access all services offered under the policies but are still required to pay the premiums.
</li>
<li>
Private health insurers are generally not passing on premium increases by giving consumers a ‘credit’ for the new increase, which means that their premiums remain the same as they were before 1 April 2020.
</li>
<li>
The ACCC recommends that private health insurers provide remedies for consumers for services that can no longer be provided or only provided to a limited extent due to COVID-19 restrictions, such as dental, optical, physio, etc.
</li>
</ul>
The full list of FAQs includes further detail on:
<ul>
<li>
cancellation of flights/travel
</li>
<li>
cancellation of events
</li>
<li>
gymnasium services
</li>
<li>
weddings
</li>
<li>
product price increases
</li>
<li>
material changes to contracted services
</li>
<li>
telecommunication issues
</li>
<li>
country of origin labelling issues.
</li>
</ul>
Interim authorisations
In the past three weeks the ACCC has granted interim authorisation to a number of sectors to ensure the economy is able to function and provide essential goods, services, medicines and medical equipment, and hardship relief during the COVID-19 pandemic.
This has included 14 separate interim authorisations, which allow for conduct that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act 2010. We still have a number of applications for interim authorisation to be considered by the Commission, which is currently meeting to make statutory decisions a number of times each week to deal with the surge.
The following interim authorisations have been granted to enable firms to cooperate during the COVID-19 pandemic, and can be reviewed at any time. The ACCC will closely monitor the activity being undertaken. Each will now be subject to a consultation period and a final decision made following further investigation and feedback from stakeholders.
The ACCC can decide to grant formal authorisation in circumstances where it is satisfied that the public benefit from the conduct outweighs any public detriment.
<ul>
<li>
Banks have been authorised to cooperate on loan relief package for consumers and small businesses
</li>
<li>
Supermarkets will be able to cooperate on grocery supply when working with manufacturers, suppliers, and transport and logistics providers.
</li>
<li>
Medicine wholesalers will be able to co-operate to facilitate distribution of essential medication and pharmacy products after being granted interim authorisation by the ACCC.
</li>
<li>
Airlines are able to coordinate ­flight schedules on ten regional flight routes, including revenue sharing, with an agreement not to raise fare prices
</li>
<li>
Gas and electricity companies to cooperate on energy supply and ensure integrity of wholesale markets
</li>
<li>
Medical suppliers allowed to work together to expand capacity in order to produce urgently needed equipment.
</li>
<li>
Oil companies allowed to co-operate to secure fuel supply, including crude oil and refined fuels, importers, suppliers of storage facilities and trucking or delivery services and wholesalers.
</li>
<li>
NBN Co and telecommunications providers able to work together to manage on demand surge, wholesale services and capacity challenges
</li>
<li>
Pharmaceutical companies will be able to co-operate to facilitate distribution of essential medication and pharmacy products
</li>
<li>
Insurers are able to coordinate on deferred payments and refunds under small business relief package
</li>
<li>
Shopping centre owners and managers given interim authorisation to discuss and implement rent relief measures for small to medium shopping centre tenants facing hardship
</li>
<li>
Private hospitals in Victoria and in Queensland are able to coordinate between each other and state health agencies and public hospitals
</li>
</ul>
As the ACCC monitors these authorisations it will watch for ways in which smaller players can be disadvantaged. For example, the ACCC has urged state governments that while supermarkets will always remain open during this pandemic, so must smaller local food retailers, like butchers and green grocers. It would be extremely unfortunate if this pandemic were to see a consolidation in the grocery sector as supplies narrow to supermarkets in ways that will be hard to reverse.
ROD SIMS is the Chair of the ACCC
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Managing the impacts of COVID-19 disruption on consumers and business: ACCC's Rod Sims 

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The ACCC has announced an update on the timeline for the implementation and launch of the Consumer Data Right (CDR) in the banking sector, deferring the launch of certain aspects from February to July 2020.
Consumers will be able to direct major banks to share their credit and debit card, deposit account and transaction account data with accredited service providers from 1 July 2020. Consumers’ mortgage and personal loan data will be able to be shared after 1 November 2020.
The ACCC has formed the view that this updated timeline for these aspects of the CDR reforms will allow additional implementation work and testing to be completed and better ensure necessary security and privacy protections operate effectively.
“The CDR is a complex but fundamental competition and consumer reform and we are committed to delivering it only after we are confident the system is resilient, user friendly and properly tested,” ACCC Commissioner Sarah Court said.
“Robust privacy protection and information security are core features of the CDR and establishing appropriate regulatory settings and IT infrastructure cannot be rushed.”
The ACCC will make the CDR Rules in January 2020 that reflect this adjustment to the timetable, and will conduct further consultation regarding any consequential changes to other phases of the CDR.
The Consumer Data Right will give consumers the right to safely access data about them, held by businesses, and direct this information be transferred to trusted third parties of their choice.
Banking will be the first sector to which the CDR applies. The CDR will subsequently be rolled out sector-by-sector, with banking being followed by energy and telecommunications.
Data portability increases competition, particularly for more complex products and services, and allows businesses to make more tailored offerings to consumers.
The ACCC has been working closely for several months with the big 4 banks and the 9 entities selected to be the initial data recipients to test and refine the CDR ecosystem.
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Start date for bank sharing of consumer data details delayed

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The Australian Competition and Consumer Commission (ACCC) has begun an investigation into the outdoor advertising sector.
The goal is to assess whether the use of rebates and discounts are breaching parts of the Competition and Consumer Act (CCA), according to a report on Mumbrella.
Numerous businesses and organisation have had information requested regarding discounts in specific areas or regions.
Under the CCA, corporations with a large degree of power are not allowed to operate in a way which would lessen competition in the market. 
The Act also prohibits corporations from giving or allowing discounts, allowances, rebates or credit on their services, on the condition the person will not acquire the same services from another competitor.
Investigations of the first assessment kind take roughly three months, after which it will be decided whether a full investigation is required.
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