The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

Artwork

j.ballantyne1990-6AQqhLzZaK

The Australian art market has flatlined. What can be done?

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The recently refurbished ISPT foyer at 100 Creek Street has brought Brisbane’s subtropical environment into an office setting.
The lobby now opens up to an integrated state-of-the-art digital canvas wrapping around the lift core.
Along with new end of trip facilities the $10 million upgrade includes entry statements and sub-tropical gardens.
The dynamic curated content reflects ‘Elements of Queensland’ commissioned by local artists which exhibits the name of the building as digital morphing art.
ISPT Portfolio Manager for Commercial Services Mr Craig Blake said tenants and guests have respond well to the new 100 Creek Street vision.
“We are committed to creating places that work and look forward to continually evolving our environments to benefit all who work in and visit the building,” Mr Blake said.
Over the last 9 months 100 Creek Street has transacted over 3,000sq m across 11 transactions with an average rent of $685/sq m.
Savills’ Dan Boyes and John McDonald in conjunction with Andrew McPhail and James Comino of CBRE are jointly appointed to lease the balance of the available space.
“The works have repositioned 100 Creek Street as a market leader in the Brisbane CBD,” Mr Boyes said.
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State of the art foyer brings Brisbane outdoors in

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GUEST OBSERVATION
A painting generated by artificial intelligence will go up for <a href="https://www.christies.com/features/A-collaboration-between-two-artists-one-human-one-a-machine-9332-1.aspx" target="_blank">sale at auction later this month</a> – raising again the question of whether a machine can be creative.
The painting, called <a href="http://obvious-art.com/edmond-de-belamy" target="_blank">Edmond De Belamy</a>, is estimated to be worth between 7,000€ and 10,000€ (A$11,375-A$16,250).
The auction house Christie’s <a href="https://www.christies.com/features/A-collaboration-between-two-artists-one-human-one-a-machine-9332-1.aspx" target="_blank">says the painting</a> is the product of a Generative Adversarial Network, in which one artificial neural network (the so-called Generator) creates an image based on its analysis of a database of 15,000 paintings by real people.
Another network (the Discriminator) then compares the new artwork to human-made paintings. If the Discriminator cannot tell the difference, the computer-generated image has passed the test.
But isn’t art the highest expression of what it means to be human? How could machines possibly emulate truly creative practices, which are often regarded as the pinnacle of human achievement?
What is creativity?
Ultimately, the nature of creativity – and whether machines will ever be genuinely creative – is a deeply philosophical question that rests to a large degree on where we look for creativity.
If we locate creativity in the actual artwork, it is hard to deny that machines are capable of being creative.
<a href="https://www.propertyobserver.com.au/http://www.sussex.ac.uk/profiles/276" target="_blank">Margaret Boden</a> is a pioneer in the field of AI and computational creativity. In her 2016 book <a href="https://global.oup.com/academic/product/ai-9780198777984" target="_blank">AI: Its nature and future</a> she defines creativity as: "…the ability to produce ideas or artefacts that are new, surprising, and valuable."
She then distinguishes three different types of creativity: combinational, exploratory, and transformational.
Types of creativity
Combinational creativity combines familiar ideas in new ways. A good example is the AI artist <a href="http://www.cloudpainter.com/" target="_blank">Pindar van Arman</a>, who trained his robots to paint portraits, including self-portraits. In <a href="https://medium.com/datadriveninvestor/creativity-is-probably-just-a-complex-mix-of-generative-art-algorithms-6d37a0087e86" target="_blank">his view</a>, artistic creativity: "…is little more than a complex mix of competing generative algorithms."
<iframe src="https://www.youtube.com/embed/qrAnJHKjoh0?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Exploratory creativity, argues Boden, exploits some “culturally valued way of thinking” (styles, genres, and so on) and generates new work within these parameters.
For instance, <a href="https://www.nextrembrandt.com/" target="_blank">The Next Rembrandt</a>, a campaign by the Dutch bank ING, used feature-extraction algorithms to identify all the stylistic elements that characterise Rembrandt’s work. It then used this dataset to create a new portrait in the unique style of the famous Dutch painter.
<iframe src="https://www.youtube.com/embed/IuygOYZ1Ngo?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Transformational creativity does not just explore a given genre, but goes beyond it. It drops, negates or complements existing styles to such an extent that new artistic conventions might be developed in the process.
This form of creativity can be achieved by so-called evolutionary algorithms that can transform themselves and evaluate their “ideas” based upon criteria provided by the programmer.
The advertising agency M&amp;C Saatchi used these algorithms to <a href="https://www.theguardian.com/media-network/2015/jul/27/artificial-intelligence-future-advertising-saatchi-clearchannel" target="_blank">create an outdoor poster for a fictional coffee brand</a> that “evolved” based on the level of “engagement” it elicited from consumers.
<iframe src="https://www.youtube.com/embed/JfpuqfqC-ts?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Equipped with facial recognition technology and connected to the internet, the algorithm determined which features of the ad – colours, typography, copy, layout – were successful and worth being replicated in further “generations”.
So it can be said that machines have successfully conquered all of the conceptual domains of creativity.
The artist’s intention
If we locate creativity not in the actual artwork but in the mind of the artist, two key objections are commonly made:
<ul>
<li>
The actual creative act does not reside in the output generated by the machine, but in its initial programming. Therefore, it is still fundamentally human ingenuity that drives the creative process.
</li>
<li>
The art generated by AI is not creative, because it is unintentional.
</li>
</ul>
Given recent advances in the creation of deep neural networks and learning algorithms, the first objection is increasingly hard to defend.
When Google/Deep Mind’s <a href="https://deepmind.com/research/alphago/">AlphaGo</a> <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2016-03-15/google-ai-alphago-gets-divine-go-ranking/7249256" target="_blank">beat the highest-ranked human player</a> of the ancient Chinese board game in 2016, some of its moves had never been played before by humans and were described as “<a href="https://www.wired.com/2016/03/googles-ai-wins-pivotal-game-two-match-go-grandmaster/" target="_blank">creative</a>”.
Importantly, AlphaGo does not follow pre-programmed rules. It uses general machine learning techniques to figure out for itself how to succeed at the game. It would therefore only be fair to attribute creativity to both the human programmers and the machine.
The second objection is more difficult to dismiss. We hardly ever appreciate creative artefacts based solely on their immediate appearance and the responses they evoke.
As <a href="https://www2.bc.edu/ellen-winner/publications" target="_blank">Ellen Winner</a>, a professor of psychology at Boston College, argues in her upcoming book <a href="https://global.oup.com/academic/product/how-art-works-9780190863357" target="_blank">How Art Works</a>, the notion of an unmediated experience of art is most likely a myth.
The value we ascribe to art is deeply influenced by multiple forces – an important one being what we think the artist’s intentions were when creating the work.
Just look at debate over the value of the Banksy artwork Girl With Balloon that went to auction. Some argue its <a href="https://www.news.com.au/lifestyle/real-life/true-stories/banksys-selfdestructing-art-more-valuable-shredded/news-story/92628b40006a41c3784dc596b8ffb056" target="_blank">value has increased</a> after the artist <a href="https://www.instagram.com/p/BomXijJhArX/" target="_blank">deliberately part-shredded the artwork</a>.
<iframe src="https://www.youtube.com/embed/iiO_1XRnMt4?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
The artwork, now renamed Love Is in the Bin, was <a href="https://www.theguardian.com/artanddesign/2018/oct/11/woman-who-bought-shredded-banksy-artwork-will-go-through-with-sale" target="_blank">described by Sotheby’s Alex Branczik</a> as: "…the first artwork in history to have been created live during an auction."
Seen from this perspective, we will accept machines as being genuinely creative only when they attain a sense of self and the capability to explain why they did what they did.
Disrupting the creative economy
But machines don’t need to be genuinely creative to have an impact on jobs and industries. According to a <a href="https://www.fhi.ox.ac.uk/will-ai-exceed-human-performance-evidence-ai-experts/" target="_blank">large survey of machine learning experts</a> in 2015, AI is predicted to be able to write high school essays by 2026, generate a top 40 pop song by 2027, and write a bestselling book by 2049.
These experts also expected AI to beat humans at Go in 2027 – a feat AlphaGo accomplished in 2016. Do we need to worry then? Are machines going take over both the mundane tasks and the creative jobs?
While they will definitely displace humans when it comes to routine creative activities, a <a href="https://www.mckinsey.com/featured-insights/future-of-organizations-and-work/jobs-lost-jobs-gained-what-the-future-of-work-will-mean-for-jobs-skills-and-wages" target="_blank">study by McKinsey</a> expects that overall jobs in the creative economy will increase.
But job profiles will most certainly change, and established value chains in the creative economy <a href="https://www.weforum.org/whitepapers/creative-disruption-the-impact-of-emerging-technologies-on-the-creative-economy" target="_blank">will be disrupted</a>. For instance, machines already <a href="https://futurism.com/a-new-ai-can-write-music-as-well-as-a-human-composer" target="_blank">compose high-quality music</a> or <a href="https://www.technologyreview.com/s/609482/ai-is-dreaming-up-new-kinds-of-video-games/" target="_blank">imagine new video games</a> from scratch.
<iframe src="https://www.youtube.com/embed/lROo4norCG0?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
How exactly these advances in machine creativity will affect the creative industries – and what economic, social and ethical consequences this entails – is an issue deserving much more attention than it receives at the moment.
But none of this will matter when the portrait of Edmond De Belamy comes up for auction. What matters then is only how much appetite bidders have for AI-generated art – keeping in mind that there might be much more of it in the future.<img src="https://counter.theconversation.com/content/103424/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://images.theconversation.com/files/240732/original/file-20181016-165885-ymrpfu.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/240732/original/file-20181016-165885-ymrpfu.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Portrait of Edmond Belamy, 2018, created by GAN (Generative Adversarial Network). Obvious
Sven Brodmerkel, Assistant Professor for Integrated Marketing Communications, Bond University
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/under-the-hammer-artwork-by-an-algorithm-is-up-for-auction-so-does-that-mean-ai-is-now-creative-103424" target="_blank">original article</a>.
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Artwork by an algorithm is up for auction, so does that mean AI is now creative?

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John Symond, the high-profile founder of Aussie Home Loans, is selling off some paintings set to fetch around $5 million or so from the Sotheby's sale.
Some were mentioned in a privately published book on his collection.
The 14 of Symond's surplus artworks top the line-up at <a href="https://www.sothebysaustralia.com.au/catalogue/AU0830" target="_blank">Sotheby's November 20 sale</a> including John Brack's Pantomime (above).
Pantomime has a presale estimate of $500,000 to $700,000. It last publicly sold at auction for $282,000, including premium, in December 2003.
Jeffrey Smart's 1965 Piazza D'Esedra has a presale estimate is $300,000 to $400,000, compared with the $135,250 the picture last fetched at Sotheby's in November 2003
He wants nothing in storage, following a rationalisation of what has always been a relatively disciplined collection.
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firstname1-iYD4UYzvBa

John Symond moves to sell some artwork

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A 50 metre glowing sculpture will rise six metres out of the Yarra River designed by Melbourne artist Tracy Sarroff and feature 16 buoyant crystalline shards made from opaque acrylic, that will move with the tide and interact with pedestrians.
The development in the Yarra River at Yarra’s Edge in Docklands, named the Light Buoys, was commissioned by Yarra’s Edge developer, Mirvac, was inspired by the formation of reeds that are native to the Yarra.
Elysa Anderson, Mirvac’s General Manager of Residential Victoria said Light Buoys takes into account the design intent for the urban character of the Yarra’s Edge precinct and embraces the urban and riverfront nature of the precinct.
Artist Tracy Sarroff said she had been inspired by both science and science fiction to produce the artwork with its glowing shards of mostly cobalt blue and icy green shades, which will warm to red and pink hues when sonar sensors detect pedestrians moving closer.
“Light Buoys takes inspiration from science fact and science fiction, transforming what were once reeds and the West Melbourne Swamp, the work melds that natural past with a potential future,” she said.
“Although crafted using science and technology, the installation has life-like features: moving, breathing, pulsing and responding to the proximity of others.
“The installation enhances the locale and the riverside vista which are prime features influencing residents’ decision to move to Yarra’s Edge, while similarly enhancing the Yarra’s Edge experience for visitors and the art journey that exists along the Yarra."
Victorian Minister for Creative Industries, Martin Foley, officially launched the artwork in a ceremony on 1 August 2017.
 
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Light Buoys artwork illuminates Yarra's Edge, Docklands

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Melbourne Central is hosting Australia's largest exhibition of video art outside an institution as part of its Lower Ground development.
Titled the Melbourne Central Art Loop, the installation has fifteen state-of-the-art LCD screens and five large steel overhead projector portals.
The exhibition is curated by Andy Dinan of MARS Gallery, who said Art Loop’s first show is a colourful and interactive video art featuring more than 30 internationally renowned and emerging Australian artists.
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“We’ve curated a wide and diverse range of cutting-edge video works that are designed to intrigue and inspire," he said.
Artists featured in the first Art Loop exhibition include Kieran Boland, Erin Coates, Simon Finn and Diego Ramirez. One participating Art Loop artist will beselected to win a trip to LOOP Barcelona 2017 – the biggest international festival for video art.
Leigh Dunn, general manager of Melbourne Central, said the addition of Art Loop, combined with the additional design and architectural features will create an unconventional and exciting retail experience for both shoppers as well as retailers.
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