The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 40-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 40-storey tower, which has just shy of 230 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Housing Affordability

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Neither the Sydney nor Melbourne property market is going to crash, veteran estate agent John McGrath has blogged.
"There are too many fundamentals holding prices up, such as the undersupply, high population growth largely due to migration, very low interest rates, low unemployment and a strong economy," he told investor readers on the Switzer website.
But he agreed the cities were "seeing prices paring back."
He indicated just how far prices will fall "is a hard question to answer with any real accuracy," but added it was reasonable to rely on history for an indication of how low prices might go.
He cited recent research showing Australia has had six previous episodes of declining housing prices since 1980, with the peak-to-trough range of 2.5 percent to 8 percent.
McGrath cited the buying urgency has gone, competition was weaker, "there’s more homes for sale and much less risk of paying a premium at auction.
"We’re getting back to normal market conditions," he said adding it was good because market corrections prevent bubbles.
"We want a period of consolidation now to cement in the significant price gains of the boom.... Sydney house prices were up 67% and Melbourne house prices were up 40% since mid-2012 when the growth cycle began.
"So, even if they fall by 8%-10% or more, most home owners shouldn’t be concerned by this. 
"At the end of the day, the gains made during the boom will far outweigh any price falls we experience now," he said.
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j.ballantyne1990-6AQqhLzZaK

Sydney and Melbourne property markets won't crash in 2018: John McGrath

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Raine &amp; Horne has welcomed release of the latest Committee of Sydney report, calling for the establishment of a ‘Sandstone mega-region,’ linking Greater Sydney with Newcastle, Wollongong, and the Central Coast.
The report by the independent think tank says faster rail could also slash door-to-desk commuting times, noted, executive chairman Angus Raine, who has been a long-term advocate for high-speed rail solution to Sydney’s housing affordability issues.
For example, the current journey time from Newcastle to Parramatta could reduce from 153 minutes to 60 minutes; Wollongong to the Sydney CBD from 85 minutes to 60 minutes and Gosford to the Sydney CBD from 80 minutes to 40 minutes.
Crucially, this network could also create new direct links from Newcastle to Parramatta and from Wollongong to Campbelltown and Liverpool – creating new opportunities and reshaping our region.
“A faster rail network will help relieve some of Sydney’s affordability pressures and underpin long- term property prices in regional centres such as Gosford, Newcastle, and Wollongong by as much as 5-10% when it becomes a reality,” Raine said.
The report also calls on NSW Government to introduce a network of one-hour or less heavy rail connections between cities within the mega-region and argues that building new housing across the rail corridor will help to take pressure off the market in Sydney.
The study argues that an additional 40,000 dwellings could be built across NSW by opening land across rail corridors and found that with improved rail connections by 2036, this network could deliver over $75 billion of housing affordability improvements for Sydney.
“I’d like to see fast train services to Goulburn, and Canberra included in a long-term mega-region plan, as well as a 30-year transport strategy that includes suggestions from urban futurists recommending tunnelling under the Blue Mountains to open up the Lithgow region," Raine added.
“This might sound absurd in 2018, but given Sydney has topographical restraints to its east, west, south and north, we need to look for solutions that will cater to population growth many decades into the future.
“I’m sure many Sydneysiders believed a bridge between Milsons Point and the CBD to be an absurdity in the 1880s too.
REINSW Deputy President Brett Hunter, an agent at Raine &amp; Horne said faster rail is necessary for the growing population on the Central Coast, and to connect more commuters to jobs in Sydney and Newcastle.
The proposed fast rail network would have an enormous impact on Central Coast real estate markets, according to Hunter, by attracting even more Sydney buyers.
“Commute times to Sydney are a major issue for Sydneysiders considering a shift to the Central Coast,” said Hunter.
“We could halve commute times with a fast train service between Sydney and Gosford, which would prove attractive to more Sydneysiders, who are looking for a way to break away from the city’s surging real estate prices,” said Mr Hunter.
“The median house price for Avoca Beach is under $900,000 despite the spike in Sydney buyer numbers over the last few years.
“However, we’d need to see work begin on a fast rail service before we could predict the longer- term impact on values in Avoca Beach, Terrigal, McMasters Beach and Copacabana,” said Mr Hunter.
The state government has already seeking ways to encourage more Sydneysiders to move to the Central Coast, a move Hunter supports.
“A fast rail from Sydney to the Central Coast would enable people to enjoy the intimate coastal lifestyle of the Central Coast but still earn a living in Sydney.”
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jonathanchancellor-7SQnKwU6yx

Fast rail could help solve Sydney's housing affordability issues

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GUEST OBSERVATION
Meeting the cost of buying a home or renting privately is difficult for many in Australia, and sadly impossible for some. Governments are concerned about the housing affordability “crisis” to varying extents, but it’s probably fair to say that we have not seen many effective solutions so far. That’s a result of the complexity of both understanding and solving the problem.
Anglicare’s Rental Affordability Snapshot has, for nearly a decade, painted a worrying picture of almost all of our major cities. Again this year only a tiny proportion of rental properties on the market are affordable for people receiving government support.
But analyses by economists, geographers, the building industry, think tanks, housing researchers and governments themselves define the problem of affordability differently. (And they disagree on the solutions, often relying on flawed assumptions.)
What do we mean by unaffordable?
We aim to contribute to the conversation by challenging how we think about and what we mean by “unaffordable housing”.
The way you measure housing (un)affordability matters – a lot. It affects how big the problem is estimated to be, who is identified as affected, where they live, what interventions might help, and how much these will cost.
In addition, it is tricky to generate simple, usable statistics. This is because Australian households have such varied housing experiences (and costs). Sometimes we forget renters. Sometimes we don’t distinguish between unaffordable housing costs for low-income and high-income households. And, importantly, sometimes we confuse the risk of housing affordability problems with the experience of them.
Here is an example. The most commonly used measure of housing affordability in both policy and research settings is the relatively simple measure of “housing affordability stress”. We classify people as having housing stress if they are in the bottom 40% for household incomes and paying more than 30% of their income in housing costs.
This allows us to identify low-income households that are paying high housing costs. (It’s generally assumed that people with higher incomes can meet their basic housing needs.) Using this measure, it is estimated that roughly 11% of Australian households have unaffordable housing costs.
But housing costs are just one part of a household’s weekly spending. In recent work, we were interested to see if we could identify who is actually experiencing financial hardship because of high housing costs by looking at their capacity to meet other essential non-housing costs. A substantial meal at least once a day, medical and dental treatment when needed, and warm clothes when it’s cold – these are things that most Australians regard as essential. When people cannot afford these things, we describe them as being materially deprived (you can read more about deprivation here).
Within the 11% of the households classified as having unaffordable housing costs, only a small proportion (just under 3% of households) are also materially deprived. When we take a closer look at who is in this smaller group, they are distinct in that they have lower incomes, poorer health, are more financially strained, live in the rental sector, and move house more often.
Some households may be able to cope with high housing costs by “shuffling” other parts of their life. They may, for example, take on more hours at work, draw on savings, or reduce discretionary spending.
Expensive housing becomes a problem when households are unable to make these adjustments. This might be because of illness, for example, or a relationship breakdown, or long-term precarious employment.
At risk or in trouble: an important distinction
This simple analysis suggests that there is a probably a big difference between who is classified as having unaffordable housing costs and who is likely to be most affected by them. It also raises the question of whether trickle-down housing supply solutions will ever reach the people who are genuinely affected by housing affordability problems.
As a starting point, maybe we should give priority to those households that are facing high housing costs and multiple deprivations. This approach encourages a significant shift in where we perceive our housing affordability crisis to be – with less focus on broader market conditions and more on people’s lived experience.
Finally, reflecting on the Anglicare report, perhaps it points to another important conclusion. The fact that so few people on government support can afford decent housing suggests that the problem might not be a housing one, but a welfare one.
Lyrian Daniel, University Postdoctoral Research Fellow, University of Adelaide
Emma Baker, Associate Professor, School of Architecture and Built Environment, University of Adelaide
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/housing-affordability-stress-affects-one-in-nine-households-but-which-ones-are-really-struggling-96103" target="_blank">original article</a>.
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Housing affordability stress affects one in nine households, but which ones are really struggling?

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Options for buyers seeking inner-city housing solutions, outside of apartments and below the $1 million price point, are slim in the Melbourne property market.
Recognising this gap, Australian property group, Glenvill has introduced a new loft design into the YarraBend development in Alphington.
All 48 lofts released sold out in just a couple of weeks.
The lofts, located in The Mills precinct of YarraBend, are housed in four story low-rise buildings.
Each loft spans over two levels with the ground level lofts including a courtyard and those on the upper levels boasting a rooftop garden.
Each loft shares one party wall and are designed around hubs of eight neighbours with individual open spaces.
Director of sales at Glenvill, Ashley Bramich, explains that the unique design of the lofts creates a community feel.
He its captures the demand in the market for something in between a townhouse and an apartment.
“The low-rise boutique buildings are designed to make people feel connected to the community, without the density of an apartment building,” Bramich says.
“We decided to include the loft floorplans in the YarraBend masterplan to offer a solution to buyers who are looking to purchase in the inner city region, but can’t afford a house and land package, or a townhouse, and don’t want to live in an apartment.”
Attracting urban professionals and empty nesters in the sub-$1 million price range, buyers have been willing to buy off the plan.
“Cookie cutter apartment designs won’t cut it,” he said.
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Yarra Bend dwelling design tackling inner-city housing affordability

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GUEST OBSERVATION
Even though house prices have risen substantially over recent decades, housing costs as a share of income have barely shifted in over 20 years. Costs relative to disposable income for housing are largely unchanged, at 17% since 1993, although there has been some increase since 2000.
There is no agreed measure for defining housing affordability, but just looking at house prices can be deceptive. Australian households are roughly equally split between purchasing, renting or owning their house outright.
There is no doubt that house prices increased substantially over recent decades. According to CoreLogic over the past 20 years the median house price in Australia increased from A$140,000 in December 1997 to A$540,000 by December 2017 – an annual increase of 7%. Relative to disposable income this represents a 68% increase over the 20-year period.
Australian households are roughly equally split between purchasing, renting or owning their house outright. Highly inflated house prices are more concerning to people wishing to move from renting to purchasing a house (mostly potential first home buyers).
Housing affordability looks very different when we look at actual housing costs relative to income, rather than just house prices. Housing costs increased substantially between 1984 and 1993.
This was a combination of weak income growth and strong increases in housing costs, particularly mortgages with interest rates increasing sharply over this period. Since peaking in 1993 costs remained relatively stable with rents increasing modestly over the past 10 years, while mortgage costs declined.
Overall, actual housing costs relative to income have remained stable since 1993 at around 16% of disposable income.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/25/d40cd39a221f46f8bd18572aef904b89.jpg" alt="">
We split households into five equal groups from lowest 20% of disposable income up to highest 20%, after adjusting for type of family and household size. Clearly, low-income households spend a lot more on housing relative to their income than higher-income households. The share of housing costs for the lowest income quintile has increased in recent years but is not substantially different from longer term averages.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/25/74e883b8bb6a491b9f31eb556c466b3b.jpg" alt="">
All other income groups have increased their share of spending relative to income since 1984. Since 1993 the changes have been mixed with the lowest income households and highest income households both spending less as a share of income, while the middle income categories have increased their spending, albeit modestly.
Housing was much more affordable in 1984 with average housing costs at just 11.3% of disposable income.
A number of important changes have occurred over the past 25 years. Interest rates are much lower, living standards have increased substantially for low, middle and high income families and savings rates have also increased – implying that housing costs are increasingly a larger share of expenditure.
Another common measure of housing affordability is housing stress. We use the “30/40” stress rule – a household paying more than 30% of their disposable income on housing costs and also in the bottom 40% of the income distribution.
Using this housing stress measure, we see a significant increase in renter stress, firstly between 1984 and 1993 and then from 2007. Mortgage stress is largely unchanged since 1988 following an increase between 1984 and 1988.
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Housing stress rates are similar for major states. The highest rate is in Queensland with 13.5% of households in stress whereas the combined ACT and NT region has the lowest stress rate at 8.1%, thanks to relatively high incomes. The NSW rate is lower than both Victoria and Queensland.
Home ownership rates in Australia have slowly declined since 1984 from around 72% to around 68% by 2015-16. Ownership rates of households headed by people aged under 35 dropped from 50% in the 1980s to around 35% in 2015-16. Households headed by people aged 35 to 49 have experienced a similar percentage point decline but from a higher base.
The downward trend in ownership rates for younger households has been ongoing since 1988. Surprisingly, the house price boom between 1999 and 2005 in Australia does not appear to have made a significant difference to pre-existing trends.
However, home ownership trends are complex, and are likely driven by a range of factors such as interest rates, higher rents in the 1980s, broader societal changes such as people marrying and having children later in life and a higher divorce rates. Another possibility is a shift away from home ownership, with younger people preferring the flexibility that renting offers.
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Overall, housing costs in Australia have been relatively stable as a share of disposable income since the early 1990s. This average does mask problems for low-income renters who are paying an increasing share of their income on housing costs, and rent stress levels have also increased over the long term.
Changed economic circumstances provide risks for housing affordability. Were interest rates or unemployment to increase sharply there would be risks to households and flow on effects to the broader economy.
House prices have indeed increased sharply since the late 1990s, well above incomes or inflation. This poses a problem for those wishing to move from the rental market to owning a home as higher house prices imply larger deposits.
<img src="https://counter.theconversation.com/content/95286/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">While elevated house prices are a concern, the more pressing social problem for Australia remains the lack of affordable rental housing for lower-income families that is close to jobs and services in our capital cities. This has been an ongoing problem in Australia for a number of decades. An ageing population with potentially lower home ownership rates will add to this problem in future years.
Ben Phillips, Associate Professor, Centre for Social Research and Methods, Australian National University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/housing-costs-are-actually-the-same-as-in-1993-but-renters-still-struggle-95286" target="_blank">original article</a>.
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Housing costs are actually the same as in 1993, but renters still struggle: Ben Phillips

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The recent slowing in price growth, and even sizeable price declines, provides some Sydney first time buyers with opportunist purchasing prospects.
But while intense competition from investors has dropped off, there has been renewed demand arising from the overseas migration into Sydney.
Accordingly decentralisation should be more seriously on the agenda of all government as a means of addressing the affordability and liveability issues that young Sydneysiders confront.
We need to develop regional hubs where people can live, own, work and play without being expected to endure undue mortgage stress.
I'm old enough to recall the beginnings of what became the failed Albury-Wodonga decentralisation experiment. 
It was the 1973 vision of Premiers Sir Robert Askin and Sir Rupert Hamer overseen by Prime Minister Gough Whitlam.
“Whitlamabad” as the soon-gone Prime Minister often jested.
Divided by more than a river, the scheme tried to undo state borders with the ensuing rivalry a recipe for disaster.
I was thinking of the failure when I veered off the Hume Highway for a quick lunch while recently driving between Sydney and Melbourne.
My prawns, crisp lettuce and avocado with a squeeze of farm gate lemon was superb. 
Here I was five hours inland on a stinking hot day over the Christmas break. Nothing that I couldn't have had at the seriously overcrowded Westfield Bondi Junction.
Lunch was doable because there's no tyranny of distance with food anymore, so why not our lifes.
What is so unpalatable to our smart youthful generations about living outside the big smoke?
Our entrenched public service bureacracies have a mindset which holds back the embrace of decentralisation.
Indeed it was public servants in Canberra, Sydney and Melbourne who were horrified at the prospect of any forced move to Albury-Wodonga decades ago.
That self interest ensured the current crushing commutes are the daily outcome for much of the Sydney population.
But there are now bigger influences at work through globalisation. The emerging gig economy will certainly enable the great shift out - and cheaper travel and accomodation from the distruptive economy will assist those who have to occasionally come back into the rat race.
While the forces of disruption make their way through most industries, the antiquated public service mentality remains intact.
The recently unveiled vision of the Greater Sydney Commission of a ‘metropolis of three cities’ – Eastern Harbour City (the current CBD), the Central City (Parramatta and surrounds) and the ‘Western Parkland City’ (clustered around the Badgerys Creek Airport, Penrith and Campbelltown) - didn't inspire me.
The need is for increased housing supply incentives outside our key centres.
Decentralising will also assist in making urban life better for those who remain, not just the smashed avocado generation who really do aspire to home ownership, and a lifestyle somewhere, without too much stress.
This article first appeared in the Daily Telegraph. 
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Decentralisation should be a key home affordability response by government

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Affordability is set to moderately improve in 2018, mainly as a result of softening housing market conditions, a new report from Moody’s says.
Over the year to March 2018, Sydney showed the greatest improvement in affordability with Perth not far behind, largely due to housing prices falling 3.1% and 3.6% respectively.
However, affordability deteriorated in both Melbourne and Adelaide, Moody’s The RMBS - Australia: Housing affordability to improve on property market slowdown report suggested.
The firm says that median housing prices in Sydney are likely to continue to cool, while Melbourne's prices will continue to show tempered growth during the rest of the year.
The report also says that more affordable mortgages decrease the risk of loan delinquencies and defaults.
On average, Australian households with two income earners taking out an 80% loan-to-value mortgage needed 28.2% of their monthly income to meet monthly mortgage repayments in March 2018, down marginally from 28.3% in March 2017, says Alena Chen, a Moody's Vice President and Senior Analyst.
"Housing affordability for new mortgage borrowers — measured as the proportion of household income needed to meet mortgage repayments — improved marginally on average across Australia over the year to March 2018, because lower interest rates and moderate income growth outstripped the effect of higher housing prices.
"Looking at the rest of 2018, we expect housing affordability to continue to improve moderately on average because of softening housing market conditions, particularly in Sydney and to a lesser extent Melbourne.
"On average across Australia, housing affordability in March 2018 was also better than the average for the past 10 years."
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Housing affordability set to improve with softening market: Moody's

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Despite a chronic shortage of affordable housing, Australian governments have been slow to experiment or support affordable housing provisions through the planning and development process.
It will be interesting to see whether next month's Federal Budget from Scott Morrison advances the complex issue, and then whether further initiatives come from the State Budget.
To date NSW's mostly voluntary planning incentives have failed to deliver worthwhile numbers of affordable homes.
A recent study calculated the main affordable housing scheme had yielded only 2,000 affordable Sydney rental dwellings since 2009.
This is the equivalent to about one per cent of the city’s total supply.
<div>The scheme typically offers a density bonus to NSW developers with increased floorspace to build in return for affordable rental housing that must be rented to eligible households at 20 percent market discount for 10 years.</div>
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<div>Some 19 of proposals were by private sector developers, while six were by Community Housing Providers (CHPs) or not-for-profit organisations.</div>
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<div>The policy lead in this important area has been South Australia where around 17 per cent of total dwelling approvals within major new residential development areas have been dedicated affordable homes. </div>
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The NSW approach has focused on affordable rental housing, while most dwellings secured through the South Australian model are offered for sale to eligible moderate income earners. 
We clearly need better policy to improve the outcome.
When compared to international practice, even the South Australian schemes is modest, according to a recent study by the Australian Housing and Urban Research Institute.
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In England and Scotland, the general expectation is for 20 percent to 40 per cent of new housing developments to be affordable housing. 
Australia’s first pilot schemes emerged in the mid-1990s through the Federal Government’s Building Better Cities program which funded projects in Pyrmont and Ultimo.
The approach was extended to the major urban renewal precinct surrounding Green Square.
However, the NSW Government has been reluctant to allow local councils to impose mandatory requirements for affordable housing through the planning process.
At the Federal level, the primary focus has been seeking to address affordability through increasing overall land supply.
Indeed the the Council of Australian Governments (COAG) working party on housing supply and affordability expressed the view in 2012 that affordable inclusionary zoning would be counter-productive to overall supply efforts.
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Since affordable housing requirements reduce the value of undeveloped land, incentives to developers will be needed should significant affordable housing outcomes are to be delivered.
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It is also important governments, rather than seeking the highest and best use land value in sales of government land, adopt a new approach with the price reflecting the housing needs that the development seeks to address.
Given that affordable housing is a 30-year plus investment, it requires our governments that think shorter to embrace vision.
This article was first published in the Daily Telegraph.
 
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Affordable housing scheme not yielding results

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GUEST OBSERVATION
Affordable housing supply is a critical issue for governments – but so too is ensuring Australians have good access to meaningful employment, good social services and facilities, and quality environments.
The Planning Institute of Australia endorses in principle the wider use of inclusionary zoning practices that are in the new Australian Housing and Urban Research Institute (AHURI) study on how planning incentives could be used to build more affordable dwellings.
However, governments could not continue to ignore the fact that the housing affordability crisis stemmed in large part from demand-side factors such as capital gains tax exemptions, negative gearing, and strong population growth.
The biggest impact on affordable housing supply comes from the preferential tax treatment accorded home-owners and investors.
Until governments reform these arrangements, low to medium-income earners will struggle to get a foot on the home-ownership ladder.
For many people, including the homeless, the increased use of planning incentives would make little practical difference.
The unemployed, the socially disadvantaged, and those suffering from mental illness or substance abuse disorders usually needed public and/or charitable housing.
Inclusionary zoning codes implemented in San Francisco or London might not transplant well to Sydney, Melbourne or our other capital cities.
Wholesale adoption of inclusionary zoning provisions may lead to perverse outcomes if they’re implemented without due regard to local market conditions and specific city-wide, or regional plans.
A surer bet would be affordable housing targets developed in consultation with the community and based on quality urban design and architectural foundations.
As well as boosting supply, housing targets backed by good design standards would improve the quality of our built environments and help alleviate the twin problems of diminished social capital and growing economic inequality.
AHURI conducts valuable research on how we might best tackle the big housing and planning challenges facing our cities, towns, and regions.
The use of planning incentives is an example of a possible mechanism that would, ideally, be on the agenda of a COAG planning and housing ministerial council. 
Unfortunately, the Federal Coalition Government does not have a dedicated housing department, let alone a housing minister. 
Rolf Fenner is chief policy officer of the Planning Institute of Australia (PIA).
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Inclusionary zoning may lead to perverse outcomes if implemented poorly: Rolf Fenner

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EXPERT OBSERVATION
Australia has record levels of supply of new properties but despite various government interventions, housing still remains unaffordable for many.
Our study found the government could use more direct methods to deliver homes for people on low and moderate incomes, while leveraging the market. These methods, widespread across the United Kingdom and in major cities of the United States, are known as “inclusionary planning”.
This includes requiring developers to make a financial contribution towards affordable housing, or to dedicate completed dwellings, as part of the development approval process.
We studied the outcomes of inclusionary planning programs in parts of the United States and the United Kingdom, and more recent approaches in South Australia and New South Wales.
What techniques can ensure affordable housing in the mix
“Inclusionary zoning”, a common type of inclusionary planning, was first developed in the United States to counteract land use rules which excluded the lower end of the property market. For example, where rules would only permit large homes on single allotments.
Some states in the US have also adopted “anti-snob” laws. Under these laws, developers whose schemes include affordable housing can bypass local zoning controls, if an area has insufficient affordable housing for those on low and moderate incomes.
More recently, inclusionary planning programs are being used in many US cities in a bid to ensure that transport and infrastructure investment does not price out or displace lower income renters.
There are now more than 500 inclusionary planning schemes operating in municipalities across the US. Some require developers to include affordable housing as part of development in a particular zone (usually a fixed percentage of units or floor space).
For example inclusionary planning programs in the city of San Francisco, California (population of around 830,000) generate around 150–250 affordable units per year (around 12% of the city’s total supply).
Other schemes allow variations to planning rules in return for affordable housing. These variations might permit additional density in certain areas or waive certain requirements that would normally apply or expedite the development assessment process.
Other schemes require financial contributions from developers to offset the impact of a project on affordable housing demand or supply.
These programs provide a way for governments to ensure affordable housing for lower income residents even in rapidly gentrifying neighbourhoods.
How this plays out in England and Scotland
In England and Scotland, the supply of affordable housing is negotiated through the planning process. The general expectation is that 20 to 40% of new housing developments will be affordable. But proportions of affordable housing are allowed to vary on a case by case basis in light of the housing market and the costs of undertaking the development.
The main methods for this in England are section 106 agreements. These agreements, which come under the Town and Country Planning Act 1990, specify the amount and type of affordable housing to be provided as part of a development.
Section 106 agreements have steadily gained traction since the 1990s. Between 2005–16, 83,790 affordable dwellings were secured through these agreements in England. This included 9,640 new dwellings in 2015–16.
Section 106 agreements have resulted in different types of affordable housing, including social housing, discounted home ownership, share equity schemes and affordable rental housing (offered at 20% less rent than for comparable properties in the same local housing market).
Our study found that when inclusionary planning model requirements are predictable and applied in a consistent way, developers accept them because they can factor costs into the price paid for land.
We also found most models work in conjunction with other government funding or subsidies, extending the value of this funding by reducing the cost of land for social or affordable housing.
What usually happens in Australia
Only the South Australia and New South Wales governments have similar types of planning schemes in Australia, although there are signs that other states may follow.
The SA government’s inclusionary planning target, announced in 2005, aims for 15% of significant new housing developments to be affordable.
By 2016 more than 2,000 affordable homes had been built and a further 3,476 homes committed. This amounts to about 17% of new housing supply in South Australia.
In NSW, inclusionary planning schemes only deliver affordable rental housing.
In the mid 1990s an inclusionary zoning scheme pilot was introduced to Pyrmont and Ultimo. This scheme was then extended to Green Square.
These schemes require that developers dedicate 0.8 to 3% of the floor area of developments for affordable housing, or that a monetary contribution be made in lieu of direct affordable housing provision.
However, to date, the NSW state government and many in the development sector have favoured voluntary mechanisms (such as density bonuses for providing affordable housing) over mandatory ones to supply affordable rental housing.
For our study, we estimated the volume of affordable housing delivered through voluntary planning agreements and state policy giving a density bonus for affordable housing inclusion by examining individual development approval records.
We found that voluntary measures have so far delivered about 1,300 dwellings or between 0.5 to 1% of Sydney’s housing supply between 2009 and 2017.
How viable is inclusionary planning?
We found that voluntary planning incentives can encourage affordable housing, but as part of incremental residential development, within the existing planning framework.
However, affordable housing should be mandated when land is rezoned for residential development, when planning rules are varied for particular projects, or following major infrastructure investment.
<img src="https://counter.theconversation.com/content/94581/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Inclusionary planning can’t replace government funding in providing housing for those on the lowest incomes. However, inclusionary planning schemes can reduce land costs and ensure that affordable homes are well located near jobs and services.
Nicole Gurran, Professor of Urban and Regional Planning, University of Sydney
Catherine Gilbert, Research Assistant and PhD Candidate, Urban Housing Lab, University of Sydney
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/england-expects-40-of-new-housing-developments-will-be-affordable-why-cant-australia-94581" target="_blank">original article</a>.
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