A Moroccan-bathhouse residential tower has been unveiled for Budds Beach, with Australian developer <a href="https://www.apartments.com.au/developers/homecorp">Homecorp</a> announcing plans for a $260 million resort-style project in one of the Gold Coast’s most tightly held waterfront precincts.

A development application has been submitted to the Gold Coast City Council for a 27-storey tower at 8-10 Acacia Avenue and 25-27 Oak Avenue, Surfers Paradise, marking one of the few new large-scale residential projects proposed for the precinct in more than a decade.

The project will comprise 156 two- and three-bedroom residences, anchored by a residents-only Moroccan spa-inspired wellness sanctuary featuring private treatment rooms, a traditional Nordic sauna and steam room, hot and cold plunge pools and a curated juice bar. There will also be a resort-style rooftop precinct, complete with a heated infinity pool and spa, a residents’ lounge with a private kitchen and bar, a contemporary fitness centre with a yoga and Pilates studio, and outdoor BBQ areas with entertaining lounges.

<img alt="8-10 Acacia Avenue and 25-27 Oak Avenue, Surfers Paradise" data-entity-type="file" data-entity-uuid="997f8dbb-4ed1-47e4-8780-d12a3d5cd0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_3.png?VersionId=IsDJXxE8.HG92i4dnbmmPQi.fVXjME7I" />

"At Homecorp, we are driven by the pursuit of better - challenging expectations, thinking bigger and shaping communities that leave a lasting legacy," said Ron Bakir, CEO and Founder of Homecorp.

"This project draws on our experience and expertise to take what the market has been craving to the next level - a home that nurtures wellness, calms the mind and lifts the everyday stresses away. A home is more than a place you live, it’s where you rest, reset and find balance."

&nbsp;

Bakir says what sets the location&nbsp;apart is its rare, tightly held nature within one of the Gold Coast’s most vibrant lifestyle and entertainment precincts, yet quietly tucked away in a peaceful, beachside enclave.

"Budds Beach has remained exceptionally limited in supply over the past decade and this site presented an unmatched opportunity to deliver something truly special to both Surfers Paradise and the Gold Coast.”

Conveniently connected to major roads and the G:link, residents will enjoy easy access to Surfers Paradise, Broadbeach and Burleigh Heads, while still being just minutes from the city’s most iconic beaches and the Broadwater’s ‘golden mile’.

The 2130 sqm site acquisition adds to Homecorp’s growing Gold Coast multi-storey portfolio on the Gold Coast, following the success of Eve Residences in Labrador upon its completion in November 2024. In 2025, Eve earned multiple national accolades and went on to win ‘Best Oceanview Condo Development’ in the Asia Pacific region at the PropertyGuru Asia Property Awards Grand Final, outperforming entries from more than 13 prestigious international markets.

The company also commenced construction last year on the highly anticipated $250 million second stage of Cienna Varsity Ridge, set to deliver 289 residences by 2027 in the heart of Varsity Lakes, and launched the $210 million Florence Residences along Surfers Paradise’s Monte Carlo Avenue to the market, with construction kicking off last month.

"The property market is constantly evolving, particularly here on the Gold Coast, which continues to outperform national trends thanks to its unmatched lifestyle, natural beauty and growing infrastructure, especially ahead of the Brisbane 2032 Olympics. We are proud to be adding more homes to the skyline, creating spaces that are not only designed for liveability but also nurture wellness within. They are homes that are built to last a lifetime and beyond," concluded Mr Bakir.

The project is set to launch to the market later this year.

Joel Robinson

Homecorp lodges plans for $260 million Moroccan bathhouse-inspired tower in Budds Beach

What began as a leap of faith in the 1970s has evolved into one of the Gold Co​ast's most enduring development success stories. Raptis, now led by second-generation developer Evan Raptis, continues to shape the region's skyline four decades after patriarch Jim Raptis first ventured north from Sy​dney.

Jim Raptis began developing in Sy​dney in his 20s under the guidance of a seasoned mentor. After several successful joint ventures, he sensed untapped potential on the Gold Coast and made the bold decision to relocate. That instinct proved prescient, the Raptis family has contributed thousands of apartments to what was once purely a tourist destination and is now recognised as Australia's lifestyle capital.

[smartcode_project:default project_id=101620 project_image_fid=361818]

With decades of experience navigating the complex Gold Coast development landscape, Raptis maintains fully vertical integration, from site acquisition and construction through to marketing and sales strategies. This comprehensive approach has allowed the company to weather multiple market cycles and emerge well-positioned for the region's continued growth.

"We've seen the region change drastically over the last two decades, with that change accelerating in the last five years," says Evan Raptis. "The Gold Coast is becoming unrecognisable. There are some exciting projects happening up and down the coast. The Spit is being talked about as Australia's version of Monaco, with billions in development underway."

Unlike the volatile pre-GFC years that rocked the Gold Coast market, Raptis believes the region has matured considerably. "Demand remains strong, but the market is now settled and stable."

[smartcode_project:default project_id=101620 project_image_fid=361823]

While the company recently completed Pearl Main Beach, an 84-apartment development just 53 steps from the sand, Broadbeach has truly been home for the Raptis family.

"There's nothing Broadbeach doesn't have," Raptis says. "There's always a new café or restaurant coming into the neighbourhood, and the redevelopment of the Niecon Plaza, bringing nearly 5,500 square metres of retail, dining and office space, will only elevate Broadbeach even further."

[smartcode_project:default project_id=101620 project_image_fid=357483]

The suburb has reached what Raptis describes as a "settled phase" of its evolution, with owner-occupiers and repeat visitors increasingly shaping demand rather than traditional investors.

The company's latest Broadbeach project, Sterling, is now constructed to level 22 and scheduled for handover in June 2026. With approximately 70 per cent of apartments already sold ahead of completion, the development has attracted a distinct buyer profile.

[smartcode_project:default project_id=101620 project_image_fid=361821]

"We're seeing significant interest from lock-up-and-leave buyers and downsizers," Raptis explains. "Some use the apartments over Easter or Christmas, while others come down from Brisbane on weekends. They aren't your typical 'investors' who will put the apartments up for permanent rental."

Sterling offers prospective buyers a rare advantage: fully completed display apartments showcasing several two- and three-bedroom configurations, something few off-the-plan developments can provide.

With another Broadbeach project in the pipeline, Raptis emphasises that the next chapter is about maintaining standards rather than pursuing growth at any cost.

"We've been building for over four decades, and our track record matters. Our focus remains the same: deliver what we build, stay close to the details, and delivering a finished product that hopefully exceeds our clients' expectations."

[smartcode_project_cta:default project_id=101620]

It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline

JWLand has completed the final residential stage of its Lyneham precinct, Northbourne Village, with De Burgh now welcoming residents who have begun settling into their new homes.

A selection of the 350 studio, one, two, and three-bedroom apartments remains available within the two-building <a href="https://www.apartments.com.au/buildings/de-burgh-at-northbourne-village-40-de-burgh-street-lyneham-act-2602">De Burgh</a>, which occupies a prominent position along Northbourne Avenue.

[smartcode_project:default project_id=139989 project_image_fid=359152]

The apartments at De Burgh have been configured to prioritise natural light, privacy, and usable outdoor space, with ground-floor homes featuring private courtyards and upper-level apartments opening to generous balconies. Double-glazed windows are standard across the development, supporting acoustic comfort and improved energy performance.

Kitchens are fitted with Fisher &amp; Paykel appliances, while all residences include ducted reverse-cycle air conditioning integrated with app-based controls, allowing residents to manage lighting and climate remotely. These inclusions reflect a broader focus on durability, efficiency, and everyday functionality rather than short-term finishes.

[smartcode_project:default project_id=139989 project_image_fid=356280]

Shared amenity is delivered through a resident gym, rooftop garden, lounge spaces, parcel lockers, and landscaped communal areas that connect De Burgh to the wider Northbourne Village environment.

Nick Babic, Marketing Project Manager at JWLand, said the completion of De Burgh gives buyers a level of certainty that off-the-plan purchases cannot always provide.

“There’s no need to wait or play guessing games. You can come and see the spaces firsthand, and genuinely picture yourself living there today. That includes not only the apartments, but the amenities as well. It’s easy to imagine enjoying a coffee in the central courtyard or spending time with other residents in the lounge.”

The completed status of the project aligns with strong buyer demand for finished stock, particularly among first home buyers, young professionals, and downsizers seeking certainty around timing and cost.

[smartcode_project:default project_id=139989 project_image_fid=356282]

With pricing ranging from $463,000 to $1.588 million, much of the offering sits within reach of buyers looking to enter the Inner North apartment market.

De Burgh’s location underpins its buyer appeal, positioned approximately 600 metres from the light rail and three kilometres from Canberra’s CBD, with direct access to <a href="https://www.apartments.com.au/developments/lyneham-act-2602">Lyneham</a> wetlands, Sullivan’s Creek parkland, and the established hospitality and retail precincts of Lyneham and Dickson.

[smartcode_project_cta:default project_id=139989]

Canberra's newest apartment building: JWLand completes De Burgh at Northbourne Village

One of Victoria’s largest private developers, Central Equity, has commenced construction on Palmera, its $1 billion luxury residential development at Northcliffe on the Gold Coast, appointing Tier 1 builder Multiplex to deliver the project.

The fast-track to construction is being undertaken ahead of Central Equity officially launching the project to market.

The company says the move reflects its confidence in both the calibre of its offering and the Gold Coast’s long-term fundamentals, underpinned by one of Australia’s strongest growing economies, continued population growth and sustained infrastructure investment.

A diversifying employment base across health, education, professional services and tourism has helped insulate the local economy from volatility, while limited new supply in established coastal locations continues to support demand from owner-occupiers and downsizers seeking long-term lifestyle value.

<a href="https://www.apartments.com.au/new-apartments/palmera-residences-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a> is being constructed in the prestigious Northcliffe residential neighbourhood on an expansive 3,239 sqm site. It is located at 18 Garfield Terrace near the Northcliffe Surf Life Saving Club and the patrolled Northcliffe surf beach, situated between Broadbeach and Surfers Paradise.

[smartcode_project:default project_id=108274 project_image_fid=361249]

Offering a mix of spacious three-bedroom apartments over 52 levels, Palmera is designed to deliver a full suite of premium residences to buyers looking for the ultimate coastal lifestyle that the Gold Coast has to offer.

The project’s premium apartments will deliver northern views across the Surfers Paradise beachfront and extending all the way around to Burleigh Heads and beyond.

Palmera will be crowned by its top four levels, being a limited collection of penthouses and skyhomes that further elevate the residential offering through generous proportions and uninterrupted panoramic views.

[smartcode_project:default project_id=108274 project_image_fid=361246]

The appointment of Multiplex as the builder represents a major milestone for Palmera and cements Central Equity’s commitment to the Gold Coast after delivering more than 85 residential projects over the past four decades. It will be the 20th project collaboration between Central Equity and Multiplex.

“The commencement of construction at Palmera marks a major milestone for the project, with Tier 1 builder Multiplex appointed to deliver the development in the highly sought-after Northcliffe residential precinct on the Gold Coast,” said Central Equity Executive Director Karl Kutner.

“Our commitment to commence immediate construction is in line with our resounding confidence in the Gold Coast over the long term. The city has evolved and proven to be one of Australia’s most dynamic and resilient property markets in recent years.”

[smartcode_project:default project_id=108274 project_image_fid=361250]

Multiplex, one of Australia’s largest builders, has been shaping skylines and delivering iconic projects around the world since 1962. In that time, the Tier 1 global contractor has delivered projects with a combined value of more than US$130 billion.

“Having worked with Multiplex on many previous developments, we are pleased to be extending our relationship further with Palmera,” Kutner added.

“Multiplex brings an unparalleled depth of experience to ensure that Palmera fulfils the vision we have laid out for this strategic location and is delivered to the highest standards,” he said.

Multiplex Regional Managing Director Michael Sinclair said Multiplex was delighted to be aligning with Central Equity yet again.

“Central Equity is creating a stunning new addition to the Gold Coast skyline, and we look forward to bringing their vision to life with a world-class construction team and program. We are proud to be working alongside Central Equity on our 20th project together.”

Palmera has been designed by Marchese Partners, with interiors by DBI.

[smartcode_project:default project_id=108274 project_image_fid=361247]

Residents will have private access to extensive, state-of-the-art amenities, featuring two large pools including a generously scaled, family-friendly pool with safe shallow zones, and a 25-metre lap pool facing the western side, ensuring maximum sunlight all day.

Also available exclusively to residents is a sauna, magnesium pool, yoga studio, expansive gym, resident lounge, outdoor BBQ and dining areas. Residents will also be welcomed by concierge and luxurious entry foyer.

Located on Garfield Terrace in Northcliffe, Palmera enjoys a prime coastal position just moments from the patrolled Northcliffe beach and the G:link light rail, providing effortless connectivity along the Gold Coast’s beachfront suburbs, linking the Gold Coast University Hospital in the north with Nobby beach and Burleigh Heads to the south once the extension completes later this year.

[smartcode_project_cta:default project_id=108274]

Central Equity unveils Palmera on Garfield Terrace, Surfers Paradise

The idea of a low-maintenance forever home located close to the city were the two driving factors behind a recent purchaser’s journey at Murcia, the under-construction East Brisbane apartment development by Sarazin.

Last year, Lois and her husband purchased a two-bedroom plus multi-purpose room (MPR) apartment in the new building, which is being constructed by Hutchinson Builders and is on track for completion in late-2027.

[smartcode_project:default project_id=135094 project_image_fid=341638]

The couple’s number one priority was to remain within easy commuting distance of the city for work. Murcia is positioned alongside the new Cross River Rail, with Woolloongabba Station just 300 metres from the front door.

They are currently living in their Annerley unit, which they have owned for several years, after recently moving out of their inner-city apartment, located on the very same street as Murcia.

“We had watched the development for a long time, and when construction activity began, that’s when we felt confident to buy,” Lois said.

[smartcode_project:default project_id=135094 project_image_fid=356540]

The timing also made sense. By moving back into their Annerley unit, they are able to save money ahead of settlement, while looking forward to returning closer to the city once Murcia is complete.

“We see Murcia as a forever home, as opposed to an investment, or something we need to appreciate massively in value and move on from in a few years,” Lois said.

“We secured an apartment large enough to grow a family, so we’re expecting to call Murcia home for a very long time.”

The couple plan to grow their family, but without the added maintenance demands of owning a standalone house further from the city. Working with Sarazin and architect HAL, they were able to slightly tweak the floorplan, converting the two-bedroom plus MPR layout into a functional three-bedroom apartment.

An added bonus was the recently revised communal space plans, which now incorporate a dedicated working-from-home area, complete with work pods, and shared desks.

“It means the third bedroom doesn’t have to become a part-time office and part-time bedroom,” Lois said, adding that residents have the benefit of working from home without actually being inside their apartment.

The rooftop wellness amenity was another standout compared to living in an established complex or a house. A signature feature of Sarazin developments, the rooftop will include a full gym, hot and cold plunge pools, a steam room and sauna, and a hotel-style pool with cabanas.

[smartcode_project:default project_id=135094 project_image_fid=214682]

Buyer journeys can vary significantly, from purchasing in the established market to buying new, or choosing between houses and apartments. Lois said they knew immediately that buying off the plan was right for them.

“We wanted something new, with less maintenance, and we weren’t quite ready to make the full financial leap straight away. The timing and deposit structure gave us the flexibility we needed.”

Designed by HAL Architects and inspired by the Spanish city of Murcia, the development takes a Mediterranean-influenced approach to architecture and landscaping, with a strong emphasis on shared spaces.

“The design feels considered, the amenities support how we actually live, and the location keeps us connected to the city without feeling right in the middle of it.”

Murcia is Sarazin’s second development in the area, following the completion of Silk One just up the road in 2022. They have several more projects coming to market in Woolloongabba ahead of the 2032 Brisbane Summer Olympics.

[smartcode_project_cta:default project_id=135094]

Close to the city, built for the future: Inside a growing family’s move to Murcia in East Brisbane

Schools

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GUEST OBSERVATION
NSW Premier Gladys Berejiklian has <a href="https://www.smh.com.au/education/key-growth-area-sydney-to-get-a-new-selective-school-20190604-p51u8s" target="_blank">re-ignited the ongoing debate</a> about selective schools by announcing a new selective school will be built in the “key growth area” of southwest Sydney. In announcing the school, the premier said: "There is strong demand for selective schools, with around 15,000 applications for only 4,200 places. This new school will provide another convenient local option for these students and their families."
But selective schools are never a “local option”. Selective school entry is open to anyone who meets the cut-off in the admissions test, regardless of where they live. Selective school students <a href="https://www.smh.com.au/national/nsw/the-sydney-students-travelling-phenomenal-distances-to-get-to-school-every-day-20180403-p4z7lo">routinely travel</a> for hours across Sydney to get to and from school.
And despite <a href="https://www.smh.com.au/education/key-growth-area-sydney-to-get-a-new-selective-school-20190604-p51u8s" target="_blank">claims selective schools provide opportunities</a> for gifted students across all socioeconomic backgrounds, the data actually show otherwise – selective schools are mainly comprised of advantaged students.
What are selective schools?
Fully selective schools have no catchment zones like other public schools. This means students in southwest Sydney will receive no priority when they seek admission to this new school. So, despite claims the school is needed to cater for population growth in this area, this school will never be a local school.
Selective high schools are public schools that cater for high-achieving, gifted students. NSW has more selective schools than the rest of the states combined. This new one will be the 49th if both both fully and partially selective schools are included. Victoria has only four selective schools, Queensland three and Western Australia one.
\Each year, selective schools dominate the HSC leader boards, comprising virtually all the top ten performing schools in NSW. These remarkable outcomes come from <a href="https://education.nsw.gov.au/public-schools/selective-high-schools-and-opportunity-classes/year-7/what-are-selective-high-schools" target="_blank">grouping together</a> high-achieving, gifted students, and teaching them using specialised methods and materials.
The positive aspects lie in selective school students spurring each other on to reach their potential. And sometimes in a comprehensive school gifted students are bored or bullied. But the disparity selective schools create outweighs the benefits.
They ‘select’ the most advantaged
An <a href="https://cpd.org.au/wp-content/uploads/2018/07/Institutionalised-Separation-Report-13-July.pdf" target="_blank">average of 73% of students</a> in NSW’s fully selective schools came from the highest quarter of socio-educational advantage (SEA) in 2016. The SEA is based on factors shown to have an impact on students’ educational outcomes, such as parents’ occupation and education.
At NSW’s highest-scoring school, <a href="https://jamesruse-h.schools.nsw.gov.au/about-our-school/academic-achievements" target="_blank">James Ruse Agricultural High School</a>, <a href="https://www.propertyobserver.com.au/https://myschool.edu.au/school/41811/profile/2016" target="_blank">89% of students</a> came from the top SEA quarter in 2016. <a href="https://cpd.org.au/wp-content/uploads/2018/07/Institutionalised-Separation-Report-13-July.pdf" target="_blank">Only an average 2%</a> of students across all of NSW’s fully selective schools came from the lowest SEA quarter.
<a href="https://images.theconversation.com/files/278834/original/file-20190611-32351-1t0v4th.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/278834/original/file-20190611-32351-1t0v4th.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
James Ruse Agricultural College student profile 2016. <a class="source" href="https://www.propertyobserver.com.au/https://myschool.edu.au/school/41811/profile/2016" target="_blank">MySchool (screenshot)</a>
Gifted students do exist in lower-income families and <a href="https://theconversation.com/a-nation-at-risk-how-gifted-low-income-kids-are-left-behind-56119" target="_blank">research shows</a> they are underachieving due to lack of opportunity – but selective schools don’t seem to be the answer. The data on selective schools show gifted students from disadvantaged backgrounds are being locked out of the selective system.
In fact, students in selective schools are now so advantaged they surpass those in many high-fee private schools. The My School website calculates an Index of Socio-Educational Advantage (<a href="http://docs.acara.edu.au/resources/About_icsea_2014.pdf" target="_blank">ICSEA</a>) for each school in Australia. ICSEA is set at an average of 1,000 across Australia. The higher the ICSEA, the higher the level of educational advantage of students attending the school.
As the table below shows, in 2016 just over half of the 20 most advantaged high schools in NSW were selective schools.
<hr>
<a href="https://images.theconversation.com/files/279018/original/file-20190611-32361-164a0n9.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/279018/original/file-20190611-32361-164a0n9.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
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They don’t reflect the community
Selective schools don’t reflect the communities in which they are located, meaning they are not the “local option” Berejiklian hopes the new school will be.
While public schools have traditionally been local community hubs, exposing students to the full range of diversity in their neighbourhoods, selective schools are not able to fulfil that function. Their level of advantage almost always exceeds that of other local schools. And this is true in wealthy as well as lower-income areas.
As the table below shows, ICSEA scores for selective schools in Penrith, Campbelltown, Gosford, Newcastle and Wollongong far surpassed those of surrounding local schools.
<hr>
<a href="https://images.theconversation.com/files/279019/original/file-20190611-32356-mzdpgs.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/279019/original/file-20190611-32356-mzdpgs.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<hr>
Selective schools also don’t reflect the ethnic composition of our community and are overwhelmingly dominated by students from language backgrounds other than English (LBOTE). On average, 83% of students in Sydney’s fully selective schools were from a LBOTE in 2017. At <a href="https://cpd.org.au/wp-content/uploads/2019/05/Ethnic-Divides.pdf" target="_blank">James Ruse</a>, the figure was 97%.
<a href="https://images.theconversation.com/files/278833/original/file-20190611-32335-g2x9su.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/278833/original/file-20190611-32335-g2x9su.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
James Ruse Agricultural College student profile 2017. <a class="source" href="https://www.propertyobserver.com.au/https://myschool.edu.au/school/41811/profile/2017" target="_blank">MySchool (screenshot)</a>
Most <a href="https://www.smh.com.au/education/a-stark-contrast-the-ethnic-divides-across-sydney-s-schools-20190530-p51svk" target="_blank">selective school students</a> are children of skilled migrants, particularly from Asia, who tend to be highly educated and who invest heavily in their children’s education. This includes paying for many hours of private tutoring, especially in the lead-up to the selective schools admission test.
The use of tutoring to secure a competitive edge is another barrier preventing lower-income families from accessing the selective system.
High-achieving students need more access to educational programs that will enable them to reach their full potential. But this new selective school is not the solution.<img src="https://counter.theconversation.com/content/118449/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;">
Christina Ho, Senior Lecturer, Social &amp; Political Sciences, University of Technology Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/selective-schools-mainly-select-advantage-so-another-one-wont-ease-sydneys-growing-pains-118449" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Selective schools mainly ‘select’ advantage, so another one won’t ease Sydney’s growing pains

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This week I sit down with Simon LeNepveu of architecture and urban design practice, ClarkeHopkinsClarke to discuss the office's involvement in a research project, ‘Building Connections’, designed to support school systems and planning authorities in rethinking how schools engage with local communities and urban surrounds. 

Simon is part of an expert research panel, led by The University of Melbourne’s Dr. Ben Cleveland, for the research project which explores the idea of schools being used as community hubs and utilising them beyond the hours of 9.00am to 3.30pm. 

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Laurence Dragomir

Weekly Podcast - Episode 40: CHC's Simon Le Nepveu

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GUEST OBSERVER
When even teachers and police workers need to travel to the city fringes to find an affordable home that strikes us as a sign of a deeply dysfunctional housing system. Our research shows key workers are being squeezed out of Sydney by a housing market which has left them behind. Yet Sydney stands out among global cities, like New York, London and San Francisco, for having neglected the housing needs of its essential workforce.
In our study, we identify five strategies to tackle the problem. These could make a real difference for key workers and other moderate income earners.
Forced out to the fringes
Unaffordable housing is creating a growing spatial mismatch between where teachers, police, health and emergency workers live and work. Although their jobs are spread throughout the metropolitan region, a majority of Sydney’s 156,000 teachers, nurses, police, firefighters, ambulance and emergency workers now live in outer ring areas.
Our study shows key workers are more concentrated on the metropolitan fringe compared to the labour force generally. And this trend is intensifying.
Over the decade 2006-2016, we found that inner areas of Sydney as well as middle ring areas, including Ryde and Parramatta, lost up to 21.4% of their key worker populations. The largest influxes of key workers were in far-flung Illawarra (a net gain of 10.5%), Hunter Valley (13.6%) and Southern Highlands (17%).
<img src="https://images.theconversation.com/files/205868/original/file-20180212-31377-178trgy.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Some areas of Sydney have lost many of their key workers. Key Worker Housing Affordability in Sydney, Author provided
Barriers to buying a home
Professionally qualified and often with a university degree, key workers typically earn moderate, rather than high incomes.
<img src="https://images.theconversation.com/files/205869/original/file-20180212-31355-p7z1f2.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Key workers are on moderate salaries. Key Worker Housing Affordability in Sydney, Author provided
They’re not getting rich while teaching our children or caring for our sick, but the stability of their service-oriented professions usually meant home ownership was a realistic expectation. However, over the past decade, younger key workers have faced new barriers to home ownership.
One of these is the deposit gap. This refers to the number of years it takes to save a deposit on a median-priced home. Most lenders now require a 20% deposit.
Single key workers now need nearly nine years to save a deposit for a dwelling in Sydney’s outer suburbs. Couples on two incomes need to save for more than five years.
Where can key workers afford to live?
To examine where key workers can afford to buy a house we used affordable price thresholds, based on bank lending criteria and assuming a 20% deposit. Again, this analysis showed key workers have very limited choices. Even a senior constable earning around A$98,000 a year is limited to outer Sydney, with the closest options being Penrith and Campbelltown.
<img src="https://images.theconversation.com/files/205861/original/file-20180211-51727-pmhycu.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Key workers simply can’t afford to live close to the inner city. Key Worker Housing Affordability in Sydney, Author provided
Their limited housing choices are forcing many key worker households into long car-based commutes.
<img src="https://images.theconversation.com/files/205870/original/file-20180212-31359-365gu1.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Key workers face longer-than-average commutes. Key Worker Housing Affordability in Sydney, Author provided
These long commutes take a toll on their families and finances. Sydney high school teacher Kim Timmins explained in a recent opinion piece:
"We made the difficult decision last year to leave our network of family and friends and make the move to the uppermost parts of the Central Coast, the closest place we could afford to buy a home big enough for our growing family. … Our commute is a mix of car and train throughout the week … a complete drain before the day at school and hospital begin, and an economic disadvantage in terms of car travel costs."
What should be done
Several local councils are pursuing important initiatives to provide more affordable rental housing. In our study, we also propose five ideas to help key workers get into home ownership in Sydney.
In particular, the stable employment conditions and moderate incomes of key workers open new possibilities for improving their affordable housing options, without needing additional government subsidy or significant policy change.
Reduce the deposit gap
Key workers have traditionally aspired to, and achieved, home ownership. But those not already on the property ladder face a median house price of around A$900,000 in Sydney. An affordable price for most key workers would be around A$650,000.
To bring home ownership into reach, a shared equity model would allow key workers to buy up to 75% of the home’s value. This would reduce deposit requirements to between 5% and 10% and also make loan repayments more manageable.
Shared equity schemes are offered in South Australia under the government’s HomeStart finance organisation. This has helped many low and moderate income earners into their first home.
Collaborative development models
“Collaborative” development and financing models provide an alternative to conventional multi-unit housing developments. Under these models, individuals are supported in collectively developing a residential project.
The group members collaborate to acquire a site, appoint an architect and manage professionals through planning and construction. Groups are able to save on developer premiums. They can also customise their building and apartments in ways that save on both capital and recurrent costs.
The Nightingale projects in Victoria are an example of this approach. Participants in these schemes can save around 10-12% on prices for comparable apartments.
Alternative tenure arrangements
Alternative tenure arrangements, such as community land trusts, can separate the cost of a dwelling from the cost of land (retained by government or the trust). Under this model, homes are purchased with a conventional mortgage and/or the land component is rented at a marginal rate. Community land trusts are well established in the UK and US, but yet to attract serious policy support in Australia.
Save on construction
Savings in housing design and construction could help increase the supply of affordable homes, provided these savings are passed on to eligible buyers. Innovations in design and construction, as well as reduced requirements for facilities such as car parking (in accessible locations) could reduce costs by up to 25-35%. That equates to savings of A$75,000 to A$100,000 for two-to-three-bedroom units or townhouses.
Increase inclusionary planning targets
Inclusionary planning requires that a proportion of new housing development be affordable for moderate or low income groups. This approach can support various combinations of affordable housing, to be made available as permanent rental housing or sold on the market. Mandating that 20% of dwellings in all major new housing developments are affordable for moderate income earners, including key workers, could deliver 6,000 to 7,000 affordable “start-up” homes per year in Sydney.
Housing slowdown won’t solve key worker exodus
Governments seem to be hoping that slowdowns in Sydney and Melbourne prices, combined with first home buyer stamp duty concessions, have fixed the housing affordability problem. It’s true that regulatory intervention to restrict interest-only loans to 30% of new residential mortgage loans has cooled some investor demand.
However, the housing boom added 70% to Sydney prices from the trough to the peak. This disrupted the home-ownership trajectory of key workers, and in turn added to pressure on the operation of our essential services.
<img src="https://counter.theconversation.com/content/91476/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Key workers who don’t own homes may increasingly opt to leave Sydney’s unaffordable housing market. Ultimately, they may seek work in regional New South Wales or elsewhere in Australia. Sydney can ill afford to lose them.
Nicole Gurran, Professor of Urban and Regional Planning, University of Sydney
Catherine Gilbert, Research Assistant and PhD Candidate, Urban Housing Lab, University of Sydney
Peter Phibbs, Director, Henry Halloran Trust, University of Sydney
Yuting Zhang, Research Associate, 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/key-workers-like-nurses-and-teachers-are-being-squeezed-out-of-sydney-this-is-what-we-can-do-about-it-91476" target="_blank">original article</a>.
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Key workers like nurses and teachers are being squeezed out of Sydney: Academics

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Property prices within the Perth school catchment zones for Bicton Primary School and Kalamunda Senior High School are experiencing the highest median house price growth year on year, according to the Domain 2015 School Zones Report Card.
It found property within the catchment areas for Nedlands Primary School and Mandurah senior College had the lowest median house price increase of all government school catchment areas for Perth.
The Domain 2015 School Zones Report Card analysed the price growth rate between property within government school catchment zones across Australia and compared sale price date against the corresponding school catchment zone.
Primary
<a href="/images/2015/07/17/perth_primary.jpg">Click to enlarge</a>
<img src="/images/2015/07/17/perth_primary.jpg" alt="" width="847" height="357">
 
High school
<a href="/images/2015/07/17/perth_high.jpg">Click to enlarge</a>
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Click <a href="/news/school-zones-capture-more-family-property-buying-interest-but-be-sure-when-paying-the-premium">here</a> to see the national list. 
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Perth median price increase in school catchment zones

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Property website Domain.com.au have released a comprehensive survey of school zones.
It details the price growth rate of property within government school catchment zones across Australia. 
Property sale price data has been compared against the corresponding school catchment zone the property sits within.
Parents need to realise when looking to enrol their children in a government school, that their property is within the boundaries of their chosen school’s catchment zone, Domain senior economist, Dr. Andrew Wilson said. 
“Agents tell us that sometimes houses on one side of the street can be sold for 10% higher or more than their counterparts across the road, simply because they fall within the catchment zone of a highly sought after government school." 
Just being close to a school does not guarantee that the property is within that school’s catchment zone, the report noted.
Primary school catchment zones with the highest rate of property price growth nationally (based on sale prices for properties sold in year to April 2015, compared to previous year):
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High school catchment zones with the highest rate of property price growth nationally (based on sale prices for properties sold in year to April 2015, compared to previous year):
<a href="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/8ff63cb3-be93-4a6f-ac1a-c356f9086799.png">Click to enlarge</a>
 
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The Domain 2015 School Zones Report Card found that property prices in Sydney school catchment zones are experiencing the highest price growth out of all the capital cities, with nine out of ten of the primary school catchment zones experiencing the highest growth nationally in 2015 located in NSW, and nine out of ten of the highest growth high school catchment zones also in NSW.
Domain’s mobile apps allow parents to see which school catchment zone a listed property falls into, as well as a map of that school’s catchment zone and key information about the school(s).
 
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School zones capture more family property buying interest - but be sure when paying the premium

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GUEST OBSERVATION
One of the most important decisions you may make as a parent is where to send your child to school. You can spend hours researching schools, studying what they offer, their reputation, yearly VCE results and overall school ranking.
Imagine spending all that time researching to find what you believe is the perfect school for your child, only to be informed that they will not be accepted because you do not live in the school’s zoning. If only you had known this when you purchased your family home!
Public secondary schools in Melbourne are separated into zones, such that the entire area is covered. There are few overlapping regions.
The bulk of enrolments will come directly from these zones, making the decision on what area to settle down in a potentially crucial factor for parents.
While private schools are not affected by the same zonal restrictions, many pose a heavy financial burden on the household budget, especially if the choice between public and private has to be made for several children.
If you are a future home buyer, a school zone should be taken into account as this will affect how others view a property and potentially push prices up. This means you could be overpaying for a property because it is within a school zone, even if this is not relevant to you. The school zone effectively comes with the house and you will pay for it regardless as a result of market pricing.
Click pictures and tables to open in new windows:
<a href="/images/2015/03/17/sa-march-17-one.jpg" target="_blank"><img src="/images/2015/03/17/sa-march-17-one.jpg" alt=""></a>
Different school zones may have different impacts depending on their ranking and popularity. This study set out to compare the performance of public schools with house prices in the surrounding region. Our primary aim was to uncover the answer to the question: What is the real, unseen price of education in the housing market and how much do rankings influence this?
School zones are becoming increasingly important in the inner city market. The rise in popularity of public schools is evident by the increase in intake of students each year.
There has been lobbying in some suburbs for more public schools so that the demand for the existing schools is reduced. Population growth in the Port Phillip area has put enrolment strain on the only public school in the area; Albert Park College.
Provision of more public secondary schools in the inner south is necessary especially for South Melbourne and the new Fishermans Bend suburb which are outside the Albert Park zoning. In the inner north, it seems that demand for public schools is so high that one new school does not make a difference. For example, Northcote High School has had to reduce their catchment area recently so that Preston West and parts of Thornbury are no longer included.
They state that the opening of nearby Coburg High School has not affected demand for places and are still having to turn away students.
With a limited number of properties falling within each school zone, demand for these is pushing up property prices and even rents in certain areas.
Popular independent school Haileybury recently purchased a site in the CBD itself with speculation they will open up a new campus to service this growing area of inner Melbourne. They currently have campuses in the south eastern suburbs only. This shows a shift in attitudes of schools whereby it is no longer essential to place a high performing school in the eastern suburbs as was traditionally done. Good schools are now moving to more centralised locations.
This shift in attitude is also seen in parents who are accepting more modern approaches to a school’s design.
Planning is to go ahead for NSW’s first public high rise school in the inner suburb of Parramatta. Whilst high rise schools come with their own problems, it seems the only way forward for the inner city where space is so limited.
Low cost, high performing public schools are a desirable variation to private schools for many, especially as the inner city suburbs have resurfaced to be incredibly popular to live in.
People can now live in their dream inner city suburb whilst sending their child to a good school without having to pay a fortune. Furthermore, the money they save from sending their kids to a public school can go towards servicing a more expensive mortgage, or offering their children an eye opening experience, for example, by taking them to Paris for a family holiday.
Property Values and School Zones 
It is well established that there is a correlation between property values and being located in a school catchment area. In our major capital cities, Sydney, Melbourne and Perth, buyers will pay a premium to be located within a public school zone, regardless of its ranking.
A study in New Zealand aimed to actually quantify the impact of geographically defined school zones on house prices. Using hedonic regression, they analysed over 10,000 house sales in a select group of inner Auckland suburbs over 21 years.
What was interesting in this study is the fact that the school zone boundaries changed over the duration of the study.
It was found that when a school increased its boundary to include a new suburb, the house prices in this suburb began to attract a premium compared to relative suburbs and this premium grew to NZ$66,000 over 10 years. When a suburb which had a historic premium attached to its houses relocated out of a school zone, this premium diminished.
VCE Results and House Prices 
The Victorian Certificate of Education, better known as the VCE, is the main tool used for ranking schools based on performance.
Students complete the VCE over their final two years of senior high school. In each subject, they are awarded a grade from 0 to 50, based both on their individual performance and the performance of the rest of the state. A score of 30 in an individual subject denotes an average score, i.e. a score in the top 50% of the state.
<a href="/images/2015/03/17/sa-march-17-two.jpg" target="_blank"><img src="/images/2015/03/17/sa-march-17-two.jpg" alt=""></a>
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To determine what impact a school's VCE results have on property prices, the sale results of 2,300 houses were analysed using hedonic regression techniques. All two and three bedroom houses were included if they were sold between January 2011 and December 2014, and were located within seven different inner city high school zones, as depicted in the school zone map. This property size and type was picked as it most closely represents a potential buy for an inner city family household.
Table 1 shows the average percentage of VCE scores of 40+ achieved between 2011 and 2014 at the different schools, as well as the average price of two and three bedroom houses in the school’s zone. A study score of 40 or above is indicative of a score in the top 8 percent in the state. The ratio of such exceptional scores compared to the total shows us the proportion of high achievers in each school. Note that Lynall Hall Community School did not publish VCE scores in 2013. Data for this year was therefore left out.
On its own, Table 1 doesn't tell us much, except how affluent an area is. There seems to be no obvious link between the VCE results and average sale prices. However, there are many other factors that determine the price of a house. To single out the effect of public school VCE results on house prices, the following parameters were taken into account in the regression analysis:
<ul>
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Bedrooms and Bathrooms: Indicator of the size of the house and number of children. One additional bedroom and bathroom set added on average $350,000 to the price of a house. 
</li>
<li>
Land Area: The value of the land the house was located on if it were vacant. Each square metre was worth $1,475. 
</li>
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Beach: Proximity of suburb the house was located in to the closest beach, broken up into three bands – adjacent to a beach, one suburb away from the closest beach and more than one suburb away. Each band towards the beach increased the value by $320,000. 
</li>
<li>
CBD:  Proximity of the suburb the house was located in to the CBD, in kilometres. For every kilometre away from the city centre, the price of houses in the data set decreased by $80,000. 
</li>
<li>
Sale Date: The number of days since the first day in the set (01/01/2011). In other words, the effect of inflation on housing prices. Each day since 2011 added on average $125.80 to the price of each house.
</li>
</ul>
Housing sales that were missing information on any of the above variables were left out of the study.
The analysis uncovered that, on average, a 1% increase in the percentage of scores of 40 and above at a school increases the price of a house in the affected school zone by $19,000, holding all else constant.
This is quite a significant change, between 1.5% and 2.9% of the average price of houses sold over the past four years. To confirm our findings, Secret Agent thought it would be interesting to isolate those houses located nearby the border of two different school zones and analyse their sale results against each other.
Article continues on the next page. Please click below.
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Borderline: Comparing house prices close to two school zones 
1) Station Street 
Station Street runs in a northerly direction through Carlton North. The school zones of Fitzroy High School and Princes Hill Secondary College meet on Station Street, with the former receiving all even house numbers and the latter every odd house number.
<a href="/images/2015/03/17/sa-march-17-four.jpg" target="_blank"><img src="/images/2015/03/17/sa-march-17-four.jpg" alt=""></a>
The comparison here is almost uncanny. Not only were the same amount of two bedroom houses sold, they were also generally sold in the same proportions each year. The average land area is almost identical.
Table 2 shows that the average sale price is 4.5% higher in the better ranked Princes Hill Secondary College zone. This result is smaller than what our model would predict and is most likely due to the small sample size. 
<a href="/images/2015/03/17/sa-march-17-three.jpg" target="_blank"><img src="/images/2015/03/17/sa-march-17-three.jpg" alt=""></a>
2) Brunswick suburb 
The majority of houses in the suburb Brunswick belong to the Brunswick Secondary College zone, but a small part in the south is within the Princes Hill Secondary College district (Figure 3).
<a href="/images/2015/03/17/sa-march-17-six.jpg" target="_blank"><img src="/images/2015/03/17/sa-march-17-six.jpg" alt=""></a>
Even though the houses in the Princes Hill zone are on average smaller (by approximately 50 square metres), they sell for on average 14.5% more. The difference can be partly attributed to being inside the much better performing school’s zone, but is also the CBD.
<a href="/images/2015/03/17/sa-march-17-five.jpg" target="_blank"><img src="/images/2015/03/17/sa-march-17-five.jpg" alt=""></a>
3) University High School 
When comparing sales inside University High School’s boundaries to houses sold just outside, results are much less clear cut.
<a href="/images/2015/03/17/sa-march-17-seven.jpg" target="_blank"><img src="/images/2015/03/17/sa-march-17-seven.jpg" alt=""></a>
While University High is the better performing school, average prices are lower in this zone. The unexpected result can be explained by a huge difference in average land size.
The houses in the University High area have some of the smallest land bases in the entire set of studied houses. As mentioned earlier, each square metre of land is worth about $1,500. If the houses within University High’s zoning had the same land size as those outside the zone, they would be worth roughly $221,400 more, holding all else constant.
In other words, per square metre, these houses are valued much more highly. Again this is most likely due to the closer proximity to the CBD as well as being within the higher ranked school zone. 
<a href="/images/2015/03/17/sa-march-17-eight.jpg" target="_blank"><img src="/images/2015/03/17/sa-march-17-eight.jpg" alt=""></a>
Conclusion
We aimed to find out how much value home owners and families looking for standalone houses in the inner city see in better schooling according to VCE performance. The answer is clear: property prices are inclusive of a school zone premium and school rankings affect how much the premium paid will be. As the percentage of top achievers in a school increases, the value of houses located within the area rises as well.
On average, the price of a house in a particular school zone increases by $19,000 with each 1% increase in VCE study score above 40.
This shows parents’ willingness to pay for a school zone. Whether or not you care about the zoning yourself, you will pay for it to live in the suburbs with high performing public schools. It will be interesting to see how demand for public schools is met in the future as Melbourne's inner population continues to grow rapidly and space becomes even more valuable. 
Jodie Walker is a buyer's advocate and researcher at <a href="https://secretagent.com.au/" target="_blank">Secret Agent</a>, a Melbourne based buyer's advocacy.
Richard Rossman contributed to this Secret Agent report.
Paul Osborne is founder of <a href="https://secretagent.com.au/" target="_blank">Secret Agent</a>.
You can download the full report on school zones, as wellas other property research, from the<a href="https://secretagent.com.au/" target="_blank"> Secret Agent website</a>.
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How do school zones affect Melbourne property prices?

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The Board of St Vincent's College at Potts Point were the $3 million buyers of a neighbouring property at auction last night.
The Federation terrace house, <a href="https://www.ppdre.com.au/buying/NSW/Eastern-Suburbs/Potts-Point/House/1P0611" target="_blank">Heatherdene</a> looks one removed from its school campus, but Title Tattle gleans it's actually next to the terrace they'd previously owned.
Its selling agent Debbie Donnelly at Phillips Pantzer Donnelley had been giving buyers a $2.8 million plus guidance.
Positioned in the Rockwall Crescent cul-de-sac, the two-level residence was built in 1903 for William McElhone, <a href="https://www.sydneyaldermen.com.au/alderman/william-mcelhone/" target="_blank">a 1920s Lord Mayor of Sydney</a>.
The meticulously restored house has a modern design by Kennedy Associates Architects. Vendor Patrick Gill bought Heatherdene at 4 Rockwall Crescent in 1993.
It features original marble fireplaces, NZ Kauri floorboards and 3.6 metre high pressed metal Wunderlich ceilings.
Commonly known as Vinnies, is a Catholic, secondary school for girls, with frontage to Victoria Street. It has 680 girls in Years 7 to 12, including 140 boarders.
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<div class="ad-next">The college is one of Australia's oldest Catholic girls' schools, founded by the Sisters of Charity as a primary school in 1858.</div>
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Nuns buy neighbouring terrace to St Vincent's College, Potts Point school

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A South Melbourne property has been sold by the University of Melbourne for $10.78 million to the Victorian state government with the settlement last month.
It is set to become a primary school after the then Baillieu state government responded to the perceived looming crisis of rising enrolments and overcrowded inner city state schools. 
The 129-161 Ferrars Street property was identified in a 2012 report that signalled its as the preferred location for a new primary school due to its access to the 96 tram route and proximity to the Melbourne Sports and Aquatic Centre.
The report by Ernst &amp; Young acknowledged the 5,136 square metre site's closeness to City Road could pose a congestion problem.
The number of five to 12-year-olds in Southbank and Docklands is forecast to jump from 285 in 2011 to 1,366 in 2021.
The primary school is expected to open in about 2017, and could be expanded to take students up to year nine.
The site, variously owned by James Hardie, Rocke Tompsitt &amp; Co, and Elders through the decades, has been owned by the university since its 1977 purchase of the then Nathan Blight building.
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