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

Joel Robinson

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=368856]

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

A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Climate

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GUEST OBSERVATION
I was in Switzerland recently and discovered that they haven’t had any landfill since the early 2000s, because all of their waste is either recycled or incinerated to produce electricity. How “green” is it to incinerate waste in order to produce electricity? Is it something New Zealand should consider, so that 1) we have no more landfill, and 2) we can replace our fossil-fuel power stations with power stations that incinerate waste?
Burning rubbish to generate electricity or heat sounds great: you get rid of all your waste and also get seemingly “sustainable” energy. What could be better?
Many developed countries already have significant “waste-to-energy” incineration plants and therefore less material going to landfill (although the ash has to be landfilled). These plants often have recycling industries attached to them, so that only non-recyclables end up in the furnace. If it is this good, why the opposition?
Here are seven reasons why caution is needed when considering waste-to-energy incineration plants.
Stifling innovation and waste reduction
<ol>
<li>Waste-to-energy plants require a high-volume, <a href="http://www.seas.columbia.edu/earth/wtert/sofos/Rodriguez_thesis.pdf" target="_blank">guaranteed waste stream</a> for about 25 years to make them economically viable. If waste-to-energy companies divert large amounts of waste away from landfills, they need to somehow get more waste to maintain their expensive plants. For example, <a href="https://www.thelocal.se/20181112/sweden-imports-british-waste-to-heat-homes-but-wheres-the-post-brexit-solution" target="_blank">Sweden imports its waste from the UK</a> to feed its “beasts”.</li>
<li>The waste materials that are easiest to source and have buyers for recycling - like paper and plastic - also produce most energy when burned.</li>
<li>Waste-to-energy <a href="http://knowledgeauckland.org.nz/assets/publications/TR2019-009-CBA-on-waste-diversion-from-landfill-homes-land-community-Auckland.pdf">destroys innovation</a> in the waste sector. As a result of China not accepting our mixed plastics, people are now combining plastics with asphalt to make roads last longer and are making fence posts that could be replacing treated pine posts (which emit copper, chrome and arsenic into the ground). If a convenient waste-to-energy plant had been available, none of this would have happened.</li>
<li>Waste-to-energy <a href="http://knowledgeauckland.org.nz/assets/publications/TR2019-009-CBA-on-waste-diversion-from-landfill-homes-land-community-Auckland.pdf" target="_blank">reduces jobs</a>. Every job created in the incineration industry removes six jobs in landfill, 36 jobs in recycling and 296 jobs in the reuse industry.</li>
<li>Waste-to-energy works against a circular economy, which tries to keep goods in circulation. Instead, it perpetuates our current make-use-dispose mentality.</li>
<li>Waste-to-energy only makes marginal sense in economies that produce coal-fired electricity – and then only as a stop-gap measure until cleaner energy is available. New Zealand has a green electricity generation system, with about 86% already coming from renewable sources and a <a href="https://www.beehive.govt.nz/release/nz-embracing-renewable-electricity-future" target="_blank">target of 100% renewable by 2035</a>, so waste-to-energy would make it a less renewable energy economy.</li>
<li>Lastly, burning waste and contaminated plastics creates a greater environmental impact than burning the equivalent oil they are made from. These impacts include the release of harmful substances like dioxins and vinyl chloride as well as mixtures of many other harmful substances used in making plastics, which are not present in oil.</li>
</ol>
Landfills as mines of the future
European countries were driven to waste-to-energy as a result of a <a href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32006L0012" target="_blank">2007 directive that imposed heavy penalties</a> for countries that did not divert waste from landfills. The easiest way for those countries to comply was to install waste-to-energy plants, which meant their landfill waste dropped dramatically.
New Zealand does not have these sorts of directives and is in a better position to work towards reducing, reusing and recycling end-of-life materials, rather than sending them to an incinerator to recover some of the energy used to make them.
Is New Zealand significantly worse than Europe in managing waste? About a decade ago, a delegation from Switzerland visited New Zealand Ministry for the Environment officials to compare progress in each of the waste streams. Both parties were surprised to learn that they had managed to divert roughly the same amount of waste from landfill through different routes.
This shows that it is important New Zealand doesn’t blindly follow the route other countries have used and hope for the same results. Such is the case for waste-to-energy.
There is also an argument to be made for current landfills. Modern, sanitary landfills seal hazardous materials and waste stored over the last 50 years presents future possibilities of landfill mining.
Many <a href="https://www.reuters.com/article/us-environment-waste/tracking-europes-waste-theres-gold-in-them-landfills-idUSKBN1F61YH" target="_blank">landfills have higher concentrations of precious metals</a>, particularly gold, than mines and some are being mined for those metals. As resources become scarcer and prices increase, our landfills may become the mines of the future.<img src="https://counter.theconversation.com/content/128630/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;">
Jeff Seadon, Senior Lecturer, Auckland University of Technology.
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/climate-explained-seven-reasons-to-be-wary-of-waste-to-energy-proposals-128630" target="_blank">original article</a>.
Main photo: Many developed countries already have significant waste-to-energy operations and therefore less material going to landfill. <a href="https://theconversation.com/profiles/jeff-seadon-790599" target="_blank">Jeff Seadon</a>, <a href="http://theconversation.com/institutions/auckland-university-of-technology-1137" target="_blank">Auckland University of Technology</a>  <a href="http://creativecommons.org/licenses/by-nd/4.0/" target="_blank">CC BY-ND</a>.
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j.ballantyne1990-6AQqhLzZaK

Climate explained: seven reasons to be wary of waste-to-energy proposals

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Australia is a land of extreme weather. Events such as the 2009 Victorian bushfires, the 2011 Queensland floods and Cyclone Yasi in 2013 are stark examples of climate-related risks faced by Australian households. Many homes are built in high-risk locations including floodplains, coastlines and bushfire-prone land.
The Climate Institute has released a report detailing the critical role Australian housing plays in the economy, and the risks housing faces with a changing climate.
It also sets out the role of banks and insurers in promoting risk reduction and climate adaptation for Australian housing.
<h2>Built on sand</h2>
Housing represents many Australians' biggest financial commitment – including those who rent rather than buy. Housing accounts for up to one-third of the economy, through direct and indirect means and across sectors such as finance, insurance and construction. With population projections forecasting continued growth and attraction to risky locations, banks and other financial institutions have a crucial role to play in minimising the economic threat posed by climate change.
But while the role of land-use planning and insurance with regard to climate risks has been well documented, the role of banks as gatekeepers to housing finance has been largely overlooked.
As the Climate Institute’s report points out, banks have a “unique ability and incentive” to steer housing purchases, because they are the main providers of residential financing. As such, they have large financial liabilities if homes are lost to fires, floods or other climate effects.
There are a range of tactics banks might use to reduce or mitigate climate risk. For instance, they could favour lending on homes that meet specific risk-reduction requirements, such as raised floor levels for homes in flood zones, or fireproof construction materials in bushfire-prone regions. This approach could also be used in setting mortgage insurance premiums as well as the mortgages themselves. Another approach is to better apportion their exposure - by lending on a reduced percentage threshold of the total property value.
Westpac has a Climate Change Position Statement and both the Commonwealth Bank and NAB have committed in reducing carbon. But more needs to be done for housing.
If banks continue under a business as usual approach, they face the risk that many properties will be devalued over time, through continued exposure to extreme weather events. This represents a significant financial liability, especially when you consider that a home loan typically takes 30 years to play out – a similar time scale to the many climate impacts expected for Australia.
Banks are already making moves to restrict lending based on location.
But the report outlines several other things banks could do, such as:
<ul>
<li>
examine climate risk exposure in their current lending practices
</li>
<li>
use their role as financiers to support good policy, by engaging policymakers and financial regulators
</li>
<li>
encourage stakeholders, including the public, private sector and civil society sectors, to develop ways to minimise climate impact risks for housing
</li>
<li>
ensure losses are addressed in an equitable way.
</li>
</ul>
<h2>A climate insurance policy</h2>
The report also details how the insurance sector assesses risk to housing, and how it might improve its approach in the future, given the intersection of urbanisation, population trends and the trend towards living in climate-threatened areas.
The insurance sector has historically been seen as the messenger of housing market signals, because of its keen focus on assessing weather-related risk. But the 2011 Queensland floods highlighted many weaknesses in relying on insurance alone.
Many properties did not have adequate flood insurance, leaving many people without a home after losing their house to the floods. The Australian and Queensland governments and the private sector struggled to co-ordinate a cost-effective response, partly because of previous bad land-use planning decisions, but also because of the lack of adequate insurance cover.
A federal government levy helped the affected regions to “build better back”. Some chose to rebuild in the same high-risk locations.
Critically, gaps identified in building codes, land use and climate resilience still require a more co-ordinated response. The current Stage 2 coastal law reforms in New South Wales offer a potential example of how competing interests might be balanced.
At face value, this issue is a no-brainer. After all, risk mitigation is bread and butter for lending institutions and insurers, and we already know that extreme weather events are forecast to increase in frequency and severity. National resilience is required.
Quantifying this risk will be easier if financial institutions utilise access to relevant data on issues like coastal risk. Some of these data are becoming more freely available. Recognising the value of climate data is a trend that should continue. For a robust and resilient future, governments and the private sector should end their tango over who should pay for the information and agree that financial climate risks are best faced with eyes wide open.
Tayanah O'Donnell is research fellow, University of Canberra and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/tayanah-odonnell-122914" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

How can your bank help reduce climate change risks to Australian homes?

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVERS
Australia’s snow season is notoriously fickle. Some years bring deep cover lasting for nearly six months (such as in 1964). Others barely cover the grass for a few weeks (such as in 2006).
The difference between a good season and a bad one may be a single weather event, such as the so-called Snowmageddon in 2014, which dropped around a metre of snow in less than a week.
The high variability of the snow season means the Bureau of Meteorology doesn’t currently produce a seasonal outlook for snow (as we do for temperature and rainfall). However, we know that the same climate drivers that affect Australia’s weather also influence our snowfall.
<h2>El Niño and La Niña</h2>
The best way to see how snowfall varies from year to year is to use data from Spencers Creek in the New South Wales Snowy Mountains, a pristine site 1,830 metres above sea level. Past studies show that these data tend to correlate with snow more generally across the mainland alpine regions, but they don’t always match the cover at lower elevations.
First, let’s look at El Niño. We are coming out of one of the strongest El Niño events on record. During El Niño years, rainfall is typically below average across eastern Australia during the snow season, and temperatures are warmer during the day. The maximum snow depth averages about 35cm less than the all-years average, while the period with more than 100cm is about two weeks shorter.
El Niño’s opposite, La Niña, usually brings above-average rainfall, but this doesn’t necessarily mean more snow. Temperatures can sometimes be too high and hence precipitation may fall as rain even at higher elevations, which can actually decrease snow depths.
This has happened more frequently in recent decades as a result of climate change. Seven of the past eight La Niña years have produced lower maximum snow depths than average.
Historically, neutral years have had more consistent good snow depths than either El Niño or La Niña years.
It is important to consider these drivers as tilting the odds towards a particular outcome, rather than guaranteeing it. While about half the historical El Niño years have had well-below-average snow, three El Niño years had well-above-average snow depths: 1972, 1977 and 1991. That said, no recent El Niño year has produced good snow, with these winters tending to be particularly dry.
<a href="/images/2016/05/13/image-20160426-1341-81102p.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/13/image-20160426-1341-81102p.jpg" alt="">
<h4>
Maximum snow depths for all years 1954-2014, segregated by a) ENSO, b) IOD and c) SAM. Australian Bureau of Meteorology, Author provided
</h4>
<a href="/images/2016/05/13/image-20160426-1327-38yzqm.jpg" target="_blank">Click to enlarge</a>
<h4><img src="/images/2016/05/13/image-20160426-1327-38yzqm.jpg" alt=""></h4>
<h4>
Average snow depths throughout the season, with 90% confidence interval shaded, segregated by a) ENSO, b) IOD and c) SAM. Australian Bureau of Meteorology, Author provided
</h4>
<h2>The other players</h2>
To make things more complicated, El Niño and La Niña don’t act alone.
The Indian Ocean Dipole (IOD) may actually be a clearer indicator of snow depth. Similarly to El Niño, positive IOD years tend to be drier than average across southeastern and central Australia, leading to lower snow depths. They are particularly dry over the Australian Alps when El Niño and positive IOD events coincide.
Unsurprisingly, snow depths in late winter and spring are also lower when the IOD is positive. Snow depths are generally higher than average during years with a negative IOD.
The Southern Annular Mode (SAM) has the strongest relationship with snowfall. Cold fronts and low pressure systems are the main weather systems that bring our snow, and the SAM indicates whether the westerlies that bring this weather are closer to Australia or the poles.
Negative SAM brings the fronts, rain and snow further north, while during a positive SAM these fronts move further south. The average (mean) maximum snow depth in negative SAM years is a cool 240cm, almost 80cm higher than in positive years. Unfortunately, accurate forecasts for SAM are still only possible for two to three weeks ahead, which means that this measure is more of a diagnostic rather than a forecasting tool.
Of course, climate change also plays a role. Both maximum snow depth and total snow accumulation have declined over the past 25 years. The reduction in snow cover is most obvious at lower elevations and at the end of the ski season when warm spring rains can hasten the melt.
However, while it has been a few decades since the last 3-metre year (in 1992), there are still above-average seasons when the weather and climate is right, most recently in 2012.
<a href="/images/2016/05/13/image-20160426-1355-aggnfh.jpg" target="_blank">Click to enlarge</a>
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<h4>
Annual maximum snow depth at Spencers Creek, 1954-2015, with a linear trend line shown Australian Bureau of Meteorology
</h4>
<h2>Less moisture? Never fear, snowmaking is here</h2>
El Niño, positive IOD and positive SAM periods all typically lead to less moisture in the air, which partly explains the lower snowfalls. But with less cloud to trap in the heat at night, they also have lower minimum temperatures.
Luckily for snowriders, these are also the ingredients for good snowmaking and can contribute to less snow melting. The ability to harvest snow and move it where needed can also allow ski resorts to moderate the impacts of average or below-average natural snow cover on skiers and snowboarders.
<h2>What’s ahead in 2016?</h2>
While forecasts for the Southern Annular Mode only have skill for a few weeks ahead, and it’s also too early to forecast what may happen in the Indian Ocean, we can look to the Pacific.
The 2015 El Niño is in decline and neutral conditions are expected to prevail by winter. For 2016, the most likely outcomes are either neutral or La Niña conditions, a hopeful early sign for 2016 snowfalls.
Finally, a word of caution. Don’t get too excited by early snowfalls, or indeed sell your skis if winter starts with no cover: two of the best seasons on record – 1956 and 1981 – had no snow at all at the start of June, while two of the poorest seasons – 2006 and 1965 – had 20cm and 60cm, respectively, of snow on the ground before the Queen’s Birthday weekend. Early-season cover isn’t always the guide we might think it is.
While we know the Australian snow season can certainly have large variations in its snow cover, knowing the state of Australia’s climate drivers can give a heads-up on what the season may be like. But remember, there are always exceptions to the rules.
 
This article is written for The Conversation by Catherine Ganter, Australian Bureau of Meteorology; Acacia Pepler, Australian Bureau of Meteorology; Andrew B. Watkins, Australian Bureau of Meteorology; Blair Trewin, Australian Bureau of Meteorology; David Jones, Australian Bureau of Meteorology. They can be contacted <a href="https://theconversation.com/au" target="_blank">here</a>.
 
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