Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

<html><body>
GUEST OBSERVATION
In tax as in many endeavours, it’s easy to work out how things should be; harder to work out how to get there.
In NSW, Treasurer Dominic Perrottet wants to replace the one-off stamp duty on real estate transactions with an annual <a href="https://www.treasury.nsw.gov.au/sites/default/files/2020-11/NSW%20TSY%20TF%20-%20Glossy.pdf">land tax</a>.
In the long run, this one single reform could produce the biggest possible gains of any tax reform, state or federal.
This graph from the federal treasury’s 2015 <a href="https://treasury.gov.au/sites/default/files/2019-03/c2015-rethink-dp-TWP_combined-online.pdf">tax discussion paper</a> makes the point.
It says the “marginal excess burden” (damage) done by real estate conveyancing taxes amounts to 70 cents for each dollar raised.
It means people and businesses change addresses less often than they should. Households live further away from their work than they would like to, are reluctant to move to where there is better work, and spend money extending houses instead of moving to better ones.
Businesses resist changing property location and type when changes in markets and costs suggest they should.
<a href="https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://treasury.gov.au/sites/default/files/2019-03/c2015-rethink-dp-TWP_combined-online.pdf">Tax discussion paper, Australian Treasury March 2015</a>
In contrast, the treasury found the marginal excess burden of land tax was negative. By that it means every dollar raised actually makes things better off by making land more likely to be used for its best purpose and making land less likely to be not used at all.
Swapping the worst tax the treasury modelled for the best tax it modelled ought to have a huge economic payoff for use of property, for productivity and for living standards.
It’d also be fairer.
The NSW <a href="https://www.treasury.nsw.gov.au/sites/default/files/2020-10/FFR%20Final%20Report%20-%20200828%20%281%29.pdf">Thodey Review</a> of federal financial relations commissioned by Treasurer Perrottet notes that 26% of owner-occupiers have remained in the same property for at least 20 years.
Most of these long-term same property owners have benefited “not only from the services provided by the state over that time, but also from a once-in-a-generation land price windfall”.
In exchange for these gains, they have contributed very little towards essential services and critical infrastructure via property taxation. Others who have moved more often than the average to find a job, to be closer to schools, or to match housing size to changes in their family situation have picked up the tab.
Thodey also identifies other reasons for making the switch. Land tax revenue is more stable and predictable than revenue that soars and dives at times when people are buying or are not buying properties.
How you get there matters
The Australian Capital Territory is well on the way.
In 2012-13 it began a <a href="https://www.allhomes.com.au/news/cbr-how-act-home-owners-are-affected-by-the-act-tax-reform-program-new-report-982274/">20-year transition</a>. Stamp duty and insurance duty are being wound back (for everyone) and replaced by <a href="/news">increases to general rates on land</a>.
The transition is roughly revenue-neutral.
NSW is proposing a different approach. It is considering asking new buyers to “<a href="https://www.treasury.nsw.gov.au/sites/default/files/2020-11/NSW%20Treasury%20property%20tax%20proposal%20Consultation%20Paper.pdf">opt in</a>” to an annual land tax in return for escaping stamp duty. Once a buyer has opted in, future buyers of that property won’t be able to opt out. They will pay land tax instead of stamp duty.
It’ll mean no property owner, new or old, need be a loser in the first instance.
But it will stretch out the transition and involve very large reductions in revenue for years to come, with smaller but still-substantial losses over decades.
As an illustration, assume that in year one, rather than paying $100 of stamp duty, the buyer chooses to pay a much smaller annual land tax.
NSW is going the long way
On average about 5% of properties change hands each year, meaning on average each is transferred once every 20 years. That means that to be revenue neutral in the long term the annual land tax should be set at 5% of the stamp duty.
If all the buyers in the first year switch over to land tax, the government will lose 95% of the money it would have got from stamp duty in that year.
With the passing of time and a larger share of owners paying land tax the shortfall will get smaller. But even after a decade, it might be as much as 50%.
Some buyers will never opt-in
And the voluntary opt in will give buyers who expect to hold a property for longer than average, for more than 20 years, an incentive to turn down the offer of land tax and pay (the lesser) stamp duty as before; while those who expect a short stay will opt for the (lesser) land tax.
This entirely rational behaviour will further reduce government revenue, aggravate the inequity of the system we’ve got, lock some owners into the properties they already own in order to avoid paying for government services, and postpone the benefits of moving to a system in which tax doesn’t distort the use of land.
It’s easy to see why Perrottet has gone for a voluntary switchover.
There are better ways to avoid double taxation
Without some sort of concession, recent buyers would find themselves taxed twice, once through stamp duty and then again through annual land taxes.
The ACT’s 20-year transition is one way to get around the problem.
Despite concerns, it has <a href="https://grattan.edu.au/submissions/nsw-should-swap-stamp-duties-for-a-broad-based-property-tax/">proved popular enough</a>.
Eight years in, the ACT Labor government has just won it’s <a href="https://www.news.com.au/national/nsw-act/politics/act-votes-will-labor-secure-a-sixth-term/news-story/fb16a95da53cb48cc31f1591b54abd66">sixth consecutive election</a>.
A quicker way of realising the gains from switching while reducing double taxation would be to introduce land tax immediately and give recent buyers a partial credit for the stamp duty they’ve paid.
As an example, stamp duty paid in the past one, two, three, four and five years could receive a credit of 100%, 80%, 60%, 40% and 20%, respectively.
It would cost revenue over the transition period, but not as much as the opt in arrangement proposed by the NSW treasurer, and after that short period the switch would be revenue-neutral. Importantly, it would reap the full efficiency benefits from day one, and ensure everyone paid the tax they should.<img src="https://counter.theconversation.com/content/150629/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/john-freebairn-90">John Freebairn</a>, Professor, Department of Economics, <a href="https://theconversation.com/institutions/university-of-melbourne-722">University of Melbourne</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/axing-stamp-duty-is-a-great-idea-but-nsw-is-going-about-it-the-wrong-way-150629">original article</a>.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Axing stamp duty is a great idea, but NSW is going about it the wrong way

<html><body>
NSW stamp duty is set to be reformed for the first time since 1985 when the rates were amended.
The government <a href="https://www.treasury.nsw.gov.au/sites/default/files/2020-11/0920-01_NSW%20TSY%20Consultation%20Paper_v6.pdf" target="_blank">is seeking public feedback</a> on the proposal to replace stamp duties with a broad-based land tax.
The change was mooted in the New South Wales state budget.
Treasurer Dominic Perrottet revealed plans to reform the “inefficient property tax system” currently in place, but will await the feedback before any implmentation.
The discussion will centre around transitioning from the current model of a mandatory upfront stamp duty, to one where buyers have the choice to instead pay an annual land tax on new property purchasers based on the value of their land.
The rates are set to vary for owner-occupiers, investors and commercial tenants.
"If implemented, the proposed changes could give you the freedom to choose between paying stamp duty upfront or paying a much smaller annual property tax, when you buy your next home," reads the NSW Treasury website. 
"Removing the upfront cost of stamp duty could remove tens of thousands of dollars from the home purchase process and make it easier for first home buyers, families looking to upgrade and others looking to change their property to save what is needed to purchase their next home.
"Unless you are buying a property, there would be no change. If you have already paid stamp duty on your existing property, you would not be subject to an annual property tax. There would be no double taxation."
The HIA executive director David Bare noted stamp duty was impeding the ability of the population to shift to pursue education and employment opportunities elsewhere. 
“Stamp duty is an inequitable tax which falls on a small cohort of taxpayers who need to move for varying reasons including for employment, education and training, health or financial reasons," Bare said.
</body></html>

jchancellor-FAypfDUnLy

NSW Government seeks to reform property stamp duty

<html><body>
<div>
<div>
<div class="standard-header__content">
<div class="nsw-container">
<div class="deck">
The NSW Government is revamping how it regulates shared accommodation to improve the rights and responsibilities of occupants, Minister for Better Regulation, Kevin Anderson, announced today.
Mr Anderson said the new package of reforms will increase protections for some of the state’s most vulnerable residents and implement recommendations made in the Boarding Houses Act 2012 Statutory Review Report, including rewriting the Act to become the Shared Accommodation Act.
“The Boarding Houses Act was a landmark piece of legislation when introduced in 2012. Our reforms will build on it to ensure the protections introduced for boarding house are improved and expanded to apply to the wider range of people who now live in shared accommodation,” Mr Anderson said.
“Whether it’s a student or someone getting back on their feet, thousands of people stay and live in shared accommodation each week, and it’s time the legislation caught up to reflect the reality of 2020.
</div>
</div>
</div>
</div>
</div>
<div class="nsw-container">
<div class="nsw-grid">
<div class="nsw-col page__main">
<div>
<div class="nsw-wysiwyg-content">
“The changes will ensure stronger protections are in place for occupants in shared accommodation such as prescribing standard form agreements, minimum notice periods and requiring a property to be ‘fit for habitation’.” The new legislation will cover all shared arrangements where someone rents a space as their principal place of residence and shares a kitchen, bathroom or bedroom with others. This is likely to include arrangements where people live in boarding houses as well as some co-living premises, student accommodation and private lodging arrangements. Minister for Families, Communities and Disability Services Gareth Ward said the review also provided an opportunity to better support people with disability living in boarding houses. “Consultation with people with disability, providers and advocates highlighted the need to ensure supports delivered in assisted boarding houses are consistent with those offered under the National Disability Insurance Scheme,” Mr Ward said. “We will continue to work closely with residents, proprietors and the sector to enable people to with disability to exercise choice and control over the supports they receive.” Drafting of the new Act has commenced, with targeted sector consultation planned for the second half of 2020. The <a class="is-external" href="https://www.parliament.nsw.gov.au/tp/files/77910/Report%20on%20the%20Statutory%20Review%20of%20the%20Boarding%20Houses%20Act%202012.pdf" target="_blank">Boarding Houses Act 2012 Statutory Review Report</a> is available.
</div>
</div>
</div>
</div>
</div>
</body></html>

NSW boarding house shared accommodation occupant rights under review

<html><body>
National property fund manager Primewest has made its first investment in Australia’s globally successful agricultural sector with its Primewest Agricultural Trust No 1 purchasing Pinegatta in the NSW southern riverine region.
The newly established trust managed by Primewest paid $4.8 million for the 425 hectare property, which is leased to blue chip tenant Kagome – Australia’s largest fruit and vegetable processor with a market capitalisation in excess of $2 billion.
The Pinegatta property, near the town of Deniliquin, primarily produces carrots and potatoes, most recently servicing contracts to the Smith Snack Food Company (Pepsico). 
It consists of fertile, rolling loam soils with a state-of-the-art irrigation system that is connected to highly reliable water resources via deep bores and the Mulwala Canal - Australia’s largest irrigation canal which is less than a kilometre away.   
Primewest director David Schwartz said Pinegatta was a high quality, investment grade, agricultural asset leased to a blue chip tenant and was well positioned to benefit from the anticipated improvement in the Australian agricultural sector.
He said Primewest has taken a counter-cyclical approach to investing in the agricultural sector, with plans to acquire a range of properties in its new trust totalling up to $100 million.
“Kagome has invested around $700k on capital improvements to the property in the last 12 months and its also features $1 million worth of central irrigation pivots that span 259 hectares of land,” Mr Schwartz said.
“It provides a net passing income of $300k per annum and we expect investors will receive a total return on investment of 8 per cent pa (IRR).”
Mr Schwartz said the Triple-Net Lease provided a WALE (by income) of 6.4 years.
Main photo: Primewest directors John Bond, David Schwartz and Jim Litis / Gabriel Oliveria
</body></html>

New Primewest fund enters agricultural sector with plans to invest up to $100 million

<html><body>
Streets across NSW will be transformed into vibrant pedestrian-friendly public spaces with the NSW Government announcing the successful funding recipients under the $15 million Streets as Shared Spaces program.
Minister for Planning and Public Spaces Rob Stokes said the funds will help 27 regional councils and 14 councils across Greater Sydney deliver temporary street transformations, such as cycleways, pop-up parklets and improved lighting.
“These projects will transform neighbourhoods across the State, making it easier for people to walk or ride to local shops and services by creating safe, attractive and accessible streets and public spaces,” Mr Stokes said.
Successful trial projects will provide new pedestrian and cycleway connections and  reclaim little-used carparks and roads across NSW, including:
•  creation of a ‘green spine’ on Harbour Drive in Coffs Harbour;
•  activation of an underutilised laneway in Parramatta;
•  a temporary road closure to create a public square in Griffith; and 
•  a pop-up park on Dunmore Street, Wentworthville. 
The Streets as Shared Spaces program provides funding for councils to support the delivery of short-term improvements to local streets and public spaces through pop-ups and pilots that encourage social distancing and improve the attractiveness of our neighbourhoods. 
There are two types of project grants under the program: Quick Response Demonstration Projects valued at up to $100,000 per project, to be delivered within three months of approval, and Pilot Projects valued at up to $1 million per project to be delivered within one year of approval. 
Councils will need to obtain all of the relevant approvals and engage with their community in delivering the projects.
 
</body></html>

Shared spaces to transform streets across NSW

<html><body>
The State Government's NSW Public Spaces Legacy Program - which provides green space funding for local councils - has been wholeheartedly welcomed
The announcement of a $250 million program that incentivises the fast-tracking of development assessments with funding for councils to deliver more public spaces is great news for jobs in the property development sector, the environment and the community.
Local councils that focus on fast-tracking development assessments for projects that deliver much-needed jobs and housing will be eligible for up to $5.5 million each in funding for parklands, town squares and main streets under the program.
The program is available to the 68 councils currently participating in the e-planning system.
It is great to see the NSW Government provide councils with this incentive to fast-track the assessment of projects identified under the Planning System Acceleration Program.
It is all very well for Local planning strategies to call for greater funds for open space – but this adds to the costs for new home buyers. This new government funding stream which totals $250 million will support the so the acquisition and land and works to create playgrounds and green spaces.
The approach of providing funding directly to councils to deliver new and improved public spaces will help unlock significant construction jobs during the economic shock of COVID-19 by reducing the "local green space" contributions" paid initially by developers, but ultimately added to the cost of new homes.
This new initiative will reduce the burden on new home buyers and is an important step in ensuring high quality local amenity.
TOM FORREST is the Urban Taskforce CEO
</body></html>

Public Spaces Legacy Program welcomed by Urban Taskforce: Tom Forrest

<html><body>
In an apparent about face, the NSW government has halved land tax for developers of build-to-rent housing.
It came weeks after the the Treasurer Dominic Perrottet launched a report that called for a <a href="https://www.treasury.nsw.gov.au/draft-report" target="_blank">greater reliance on land tax</a> as a replacement for stamp duty.
The greater reliance on land tax is a long-term goal. At the moment family homes are exempt, along with boarding houses, caravan parks, retirement villages and farms. Most other users pay land tax, including <a href="https://www.revenue.nsw.gov.au/squiz-sandbox/land-tax/exemptions-and-concessions" target="_blank">landlords</a> and businesses.
The change will give developers who invest in build-to-rent schemes offering <a href="https://www.smh.com.au/politics/nsw/nsw-to-cut-land-tax-for-20-years-in-ambitious-build-to-rent-scheme-20200728-p55gbm.htm" target="_blank">long tenancies</a> a 50% discount on their land tax for 20 years.
<h2>Why build-to-rent?</h2>
Most Australian rental properties are owned by individuals, units in apartment blocks as well as free-standing houses. Half are owned by landlords with only one property; <a href="https://grattan.edu.au/wp-content/uploads/2018/03/901-Housing-affordability.pdf" target="_blank">three quarters</a> by landlords with only one or two properties.
If you want to rent from a corporation, or from someone with wide experience in owning and renting properties, you’ll find it hard.
It makes Australia unusual.
<a href="https://images.theconversation.com/files/350346/original/file-20200730-17-1kp56wj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/350346/original/file-20200730-17-1kp56wj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Nails in walls can cause problems for tenants.
In other countries corporations rent out housing, <a href="https://theconversation.com/what-australia-can-learn-from-overseas-about-the-future-of-rental-housing-90401" target="_blank">big time</a>. America’s five largest corporate landlords own 420,000 properties. Germany’s largest landlord, Vonovia, owns more than 330,000.
Overseas experience suggests corporations provide more affordable housing, and in many ways they make better landlords.
Individuals who own just one property have put most of their eggs in one basket.
Because they can’t afford for anything to go wrong they check the condition of the property regularly.
They prohibit nails in walls and pets, and typically offer only short-term leases.
Corporations can play the law of averages.
Because they know most properties will be well maintained they are satisfied with less-frequent inspections. They allow modifications, and typically offer long-term leases.
They offer an experience pretty close to ownership, in return for rent.
It’s this that the NSW government wants to encourage.
To ensure it happens and to ensure built-to-rents don’t revert to the Australian pattern of individual investors owning individual units, it will specify that the apartments have at least 50 units and are managed under <a href="https://nsw.liberal.org.au/Shared-Content/News/2020/LAND-TAX-CUT-TO-DRIVE-BUILD-TO-RENT-REVOLUTION" target="_blank">unified ownership</a>.
<h2>Tax makes it hard</h2>
At the moment such developments are discriminated against when it comes to land tax. No tax is due if the land value is below a threshold.
Individual landlords are usually below the threshold (some spreading their portfolio between multiple states to ensure they don’t trigger each state’s threshold).
Wholly-owned apartment blocks are above the threshold and can’t escape it. University of Technology Sydney calculations suggest land tax on build-to-rent developments can consume up to 27% of the annual rent collected.
And they are subject to goods and services tax. They can reclaim some of it but not all.
The announcement comes at a time when the COVID crisis has cut stamp duty receipts and created an oversupply of vacant apartments, particularly around universities.
The initiative appears to have been crafted before the crisis and to be more forward looking. Many of the build-to-rent projects will take years to complete.
<h2>It’s about changing the mix</h2>
That said, any extra building activity will support the construction industry and extra stock will reduce home prices and rents.
The initiative doesn’t spell the end of mum and dad landlords. They will still predominate for a long time.
It’s about providing options and security for tenants that isn’t widely available and will become more important as a <a href="https://theconversation.com/the-edges-of-home-ownership-are-becoming-porous-its-no-longer-a-one-way-street-119995" target="_blank">greater proportion of Australians rent</a>.
Other states will be taking note.
For a government that wants to eventually make land tax universal, the 50% cut is a step in the wrong direction. It might have been better to remove the threshold for small landlords.
But there’s no sign the NSW government has given up on its longer term goal. It’s unlikely to be the last time land tax rules are changed.<img src="https://counter.theconversation.com/content/143594/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/harry-scheule-3573" target="_blank">Harry Scheule</a>, Professor, Finance, UTS Business School, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-nsw-is-skewing-its-tax-system-toward-build-to-rent-apartments-and-away-from-mum-and-pop-landlords-143594" target="_blank">original article</a>.
</body></html>

Why NSW is skewing its tax system toward build-to-rent apartments and away from mum and pop landlords

<html><body>
EXPERT OBSERVER
The Westpac-Melbourne Institute Index of Consumer Sentiment fell 9.5% to 79.5 in August from 87.9 in July.
The scale of the fall comes as a major surprise. At 79.5, the Index is back near the extreme low of 75.6 seen back in April when Australia entered a national lockdown.
Since the July survey we have seen Victoria enter Stage 4 restrictions and evidence of some ‘hot spots’ in New South Wales. Under those circumstances it is certainly reasonable to have expected a sizeable fall in Consumer Sentiment.
However, collapsing to only 5.1% above the lows we saw in April when consumers were first confronted with a national lockdown may well prove to be a significant overreaction.
The biggest surprise was in NSW where sentiment collapsed by 15.5% – well in excess of the 8.3% fall in Victoria. Remarkably, the index in NSW has reached 77.8, below Victoria’s read of 78.
Even in Queensland, where cases have been largely eliminated, there was a fall of 8.1% putting the index in Queensland at 79.7, only slightly above NSW and Victoria.
The index in South Australia fell by 5.8% to 81.8 while only Western Australia was stable, falling by 1.5% to 85.9.
While some of the weakness in NSW and Queensland will reflect the direct economic drag from Victoria’s lockdown and the closure of interstate borders, the overall response seems disproportionate to the evidence on developments around the virus.
This emphasises the fear of the unknown.
Consumers across the nation appear to have been rattled by the developments in Victoria and fear that other states may also succumb to the ‘second wave’ outbreak.
NSW has seen several clusters although, after more than a month, there has been no evidence that these cases will develop into a Victorian-style disaster.
Queensland has seen even fewer cases and faces even more secure prospects.
Our view is that these fears are likely to have become overblown. While consumers are right to be concerned, virus risks still look low outside Victoria. Even in NSW new case counts remain well below the levels seen when Victoria’s outbreak started to ramp higher in the second half of June.
Certainly, the prospect of Victorian-style outbreaks taking hold across all of Australia seems remote. Fears across the nation will be lowered further as and when lockdown measures start to improve the situation in Victoria
Victoria’s progress in containing the virus with its current heavy lockdown policies will be much clearer by the first week in September when we conduct the next survey.
BILL EVANS is <a href="https://westpaciq.westpac.com.au/Article/44613/14186/" target="_blank">Westpac's chief economist</a>
</body></html>

bevans-rYk9SxEa4r

Consumer sentiment collapsed in August especially in NSW: Bill Evans

<html><body>
Agriculture industry expert Daryl Quinlivan has been appointed the State’s first Agriculture Commissioner, delivering on a major NSW Government election commitment.
Minister for Agriculture Adam Marshall announced Mr Quinlivan’s appointment in Coffs Harbour today and said the Commissioner would champion NSW farmers’ rights.
“Establishing an Agriculture Commissioner was a major NSW Government election commitment and today’s announcement is an important step in delivering the protections and policies our farmers need to grow and thrive,” Mr Marshall said.
“Daryl is incredibly well regarded in industry, having served as the Secretary of the Commonwealth Agriculture Department and headed up the Productivity Commission."
The Agriculture Commissioner will review the NSW Government’s Right to Farm Policy and will have a particular focus on resolving land use conflict and identifying growth opportunities for industry. 
Member for Coffs Harbour Gurmesh Singh welcomed the announcement and said the Commissioner would be a strong voice for local farmers. 
Mr Quinlivan said he was honoured to be appointed to the role and would advocate strongly on behalf of the state’s farmers.
</body></html>

NSW's first Agriculture Commissioner appointed

<html><body>
Dwelling approvals showed a further weakening in June, reaching an 8 year low.
Total dwelling approvals fell 4.9% to be down nearly 20% over the last two months.
The detail showed weakness in the month was more broadly based than May’s unit driven fall.
Private sector unit approvals declined 5.3% mth to be down 23.4% qtr for Q2 as a whole.
Private sector detached house approvals posted a similar sized 5.7% decline in the June month but were more resilient for the quarter as a whole, down just 2.6% qtr.
On a monthly basis, all segments are down materially on a year ago.
All states recorded declines, although they were more pronounced in NSW (–14.8%), WA (–11.7%) and Qld (–10.9%), and more muted in SA (–4.6%) and Vic (–0.2%).
All states have seen double digit declines over May-June.
</body></html>

NSW

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

NSW