Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Crisis

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We’re going to benefit from the shutdown imposed by the virus, in infinite ways. It may not feel like it at the moment, and I don’t disregard the pain many are going through, but Australia will look back at this crisis as a time that changed the nation for the better.
The discussion now is about how and when we return to normal. But the new normal will be different to the old. It has to be.
One of the big lessons is that we cannot continue to have so many important things made in one country – or anywhere offshore. There are things we need to make in Australia. Manufacturing is poised for a revival, with benefits in employment. This will be part of a strong economic recovery.
The corporate twits who thought it made sense to locate customer call centres offshore because it saved a few bucks are now reconsidering their strategies. They need to bring customer service back home and in the process they will have fewer angry and frustrated customers. And create jobs in Australia.
The situation has forced us to innovate and to work harder at helping our customers. Real estate has found ways to function without live auctions and open houses. We’re seeing examples of online auctions achieving sales well over the reserve price. One-on-one inspections of properties have taken us back to old service standards and getting to know buyers one-on-one. Everyone benefits.
Many of us have realised how much we value the simple things we took for granted, like meeting friends for a cuppa or taking the family to the beach. When the restrictions are lifted, Australians will party like they never have since the end of World War Two – not extravagantly but by going to cafes, pubs, theatres, parks and beaches. A recent survey indicates people plan to take holidays in Australia. Many of the lost jobs will come back (not all, unfortunately).
Some people have learned, by accident, how to save. The restrictions have stopped us going out and spending. The improvement to the bank balance has been an eye-opener. Now some of us know how to get on top of the mortgage and young adults have been shown a way to save a deposit for a first home. First-home buyers with secure jobs will be busy in the second half of the year.
The resources sector has remained steady in the shutdown period. Queensland locations with links to the mining industry have experienced an uplift in rental demand amid the virus crisis, with rents actually rising. China, our biggest trading partner, is projected by the IMF to experience moderate economic growth this year and a boom next year. I’m expecting a resources boom in Australia as China and other nations get ambitious about economic recovery. Real estate markets influenced by resources links may surge – but investors should proceed with caution, because these are fickle and volatile markets.
A more engaging trend with impacts on real estate is the one I wrote about last week. We can expect an increase in people moving from the big cities and buying in lifestyle areas within an hour or two of the city. This movement has been enhanced by technology which allows people to work remotely – and will be exacerbated by the shutdown, which has forced people to work from home.
Some will make it a permanent arrangement. Expect uplift in markets like the Central Coast and the Southern Highlands in NSW; Ballarat, Bendigo, the Latrobe Valley and elsewhere in Victoria; and the Sunshine Coast in Queensland.
As an aside, the virus has done all of us a favour by delivering a major come-uppance to the ugly bastards who run global oil businesses and regularly hold the world to ransom with their cynical manipulation of supply and prices. We’ve all saved money by needing to fill up our cars less often and paying less when we do. Will it change our habits post-shutdown? Hopefully, but probably not.
The virus has generally done the environment a big favour. The before-and-after shots of some of world’s big cities are a revelation, including some in Australia. There’s been a big reduction in emissions. The greatest benefit of the shutdown would be achieved if we learnt something from that. Will we? I fear we will easily slip back into old habits.
But, amid everything, we’ve learnt who the real heroes are and how much we underpay them. We’ve discovered that we can do without over-rated footie players and self-absorbed corporate executives, but not without under-resourced and under-appreciated nurses. Boris Johnson has learnt that more than most.
And we’ve seen a cultural shift in politics and business. There’s been a refreshing absence of adversarial politics. The country apparently can function without people shouting at one another in Parliament. Let’s make that a permanent change.
Business in many ways has sought to be part of the solution, even including the major banks. The only sectors which haven’t entered into the spirit of pulling together have been insurance and some sections of news media.
Who knows – maybe going out of your way to help people is actually good for business.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

The future benefits of the coronavirus crisis: HotSpotting's Terry Ryder

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EXPERT OBSERVATION
Following times of crisis, real estate is traditionally the first to bounce back.
COVID-19 bears striking similarities to the Spanish Flu pandemic of 1919, when despite the media creating fear and hysteria through alarmist headlines, capital city housing prices didn’t fall at all. They boomed in 1919 and then continued to rise by more than ten per cent each year until 1921.
After the national recession (1990-91) and after the GFC (2008-09), it was the real estate market that most quickly saw a return to pre-crisis activity and values.
Why? Because everyone needs a roof over their head  - be that as an owner occupier or a tenant, a business owner or employee, an educator or student, a surgeon or a patient. Be that as a grower or manufacturer, wholesaler or retailer.
I see no indication that this crisis, this pandemic, will be any different. And look what the federal government has done in light of COVID-19? It has stepped in to look after the real estate market as an asset class. I haven’t seen any similar level of intervention in other asset classes, including the share market.
I look at the stages we have already gone through since the first suggestion of COVID-19 affecting the real estate industry some six or seven weeks ago, and what is still to come.
For some perspective, the coronavirus pandemic was confirmed to have reached Australia on January 25, 2020. The first death in this country was recorded om March 1st. On 24th March, realestate.com.au reported that ‘Every day is changing in the wake of coronavirus and it is becoming clear that the property market will not be immune.’ On 12th April, it reported ‘The coronavirus pandemic is having a catastrophic effect on Australia’s economy. While it’s still too soon to tell what damage has extended to the property market, it will unlikely come out unscathed.’
Stage 1 - Outbreak. Taking away of freedom.
Our federal and state governments introduce necessary rules and guidelines to restrict the spread of COVID-19.
Stage 2 - Acceptance
We are adapting to the new way of doing things. Businesses are adapting and pivoting, but initial acceptance turns to ‘get me out of here’ as the novelty wears off. (Staff gravitate back to the office environment, for example). Real estate transactions still occur as people still want and need to buy, sell and rent. Rules around inspections change. Auction go virtual. The real estate industry responds and the better the leadership, the more continuity is ensured and the more fluidly this this carries us through the peak crisis period. We are now starting to see a light at the end of the tunnel.
Stage 3 - Return to ‘normal’. Almost there.
This is ahead of us. It is a re-entry into life as we knew it. It will be complex to navigate, and business leaders and employees alike have critical roles to play in restructuring and moving forward. Courage, confidence, compassion and above all, great leadership, are required.
Stage 4 - The ‘new’ normal
There is a need to re-imagine the old, to bed down new or adapted strategies, and thrive. Businesses won’t go back to what they knew before the pandemic. They will reinvent themselves to be more resilient.
The real estate industry has got this.
We are at the cusp of the positive phase but stage 3 will not be a ‘bang, bang, bang’ like stage 1. This will be more gradual – over three to six months rather than a matter of weeks.
In the medical landscape, the focus is on the flattening of the curve. In the real estate landscape, we look to the upward curve of positive indicators.
This COVID-19 pandemic is going to give us a ‘new normal’ but those trends will shape the way we live and work.
Nothing will change the need for a roof over our heads.
Share market losses and recessions are not necessarily predictors of property declines. Confidence will drive economic recovery, and real estate activity will be significant as ‘flight to safety’ sees property offering better options in comparison to other asset classes given the low interest rate environment and the fiscal policies put in place by governments in response to COVID-19. (Relief packages, stimulation packages, funding and support)
One of the most googled questions right now is: How will coronavirus affect house prices?
Some markets may experience this more than others, with a decrease in values – but not at alarmist levels. I do not believe we’ll see significant drops or forced sales across the board.
Right now, around one-third of the world’s population is living under some sort of lockdown. Only public health indicators will bring an ‘end’ to the pandemic.
Three factors determine the severity of economic downturn: the degree of isolation and social distancing expected; how long these things go on for; and monetary and fiscal policies.
Australia is in a good space. As is New Zealand.
While no sector of the economy is being spared from COVID-19 impact, real estate is Australia’s biggest industry and its greatest contributor to employment. It represents more than 13 per cent of GDP, which is why those leaders who must manage and plan the economic and policy response to this pandemic will keep their focus firmly on real estate.
Housing is Australia's single largest asset class. Residential property outperformed all other investment types, including shares, over the past 20 years.
Real estate makes the economy stable, has tangible value, provides jobs and is an income generating asset. Real estate exists to provide shelter. Real estate will be a major pillar of recovery.
And when we come out the other end, our leaders – across government, real estate and other sectors, will be even better prepared for any crisis of the future.
MICHAEL DAVOREN is the Managing Director at RE/MAX Australia
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All roads lead to real estate: RE/MAX's Michael Davoren

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<div>The housing affordability crisis is now one of the biggest issues in Australia, causing widespread social, political and economic implications, and according to Douglas Driscoll, chief executive of real estate group Starr Partners.</div>
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<div>Housing affordability is not just a problem for the young generation, it impacts other echelons of the Australian population.</div>
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<div>Over time, Australia has started to view property as a business opportunity as opposed to merely somewhere to live, and it is now a national obsession. In fact, Australia has the highest number of residential mortgages per capita in the world, with house prices having risen at a rate that far outperforms that of household income and rents.<a href="https://outlook.office.com/owa/?realm=propertyobserver.com.au#_ftn1"></a> </div>
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<div>He said he is perplexed by the Government’s restraint and says it needs to move beyond deploying election tactics because inactivity is no longer an option.</div>
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<div> “There’s a lot of conversation but little action being undertaken to reach a resolution. You don’t need to be a professor of economics to see that we need a levelling of the playing field. We require immediate and prudent Government intervention that will protect the interests of future generations, not just win votes at the next election,” he said.</div>
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<div>“If you simply just tried to give first home buyers more of an edge this will prove counterproductive and might have disastrous consequences; it could simply add more fuel to what is already a roaring inferno and see property prices artificially increased to a whole new level. </div>
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<div>"Resultantly, investors will just end up outbidding owner-occupiers and paying even more. </div>
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<div>"Conversely, I don’t think it’s fair that we simply hone in on the wealthy.</div>
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<div>"In my opinion, this issue can only be resolved by pincer movement, applying tactics on both sides of the spectrum is the only way we can begin to reach a more level playing field."</div>
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He believes affordability could be addressed on a state-level.
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<div>“We are so obsessed with our own little patch of Australia, but at the end of the day we need to remember that regional Australia and even other capital cities are not faced with the crippling prices we have in Sydney," he said.</div>
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<div>"The matter is met with incredible complexity; if we change legislation, what does that mean for the other eighteen million Australians living outside of the harbour city?”</div>
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<div>Looking abroad, less than 50 percent of residents in Germany own their home. Tax regulations, stable prices, availability of housing and risk-averse banks make renting the more attractive option<a href="https://outlook.office.com/owa/?realm=propertyobserver.com.au#_ftn2"></a>. </div>
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<div>Contrastingly, the UK Government has a number of options for buyers under affordable home ownership schemes. Shared ownership is a scheme that allows UK residents to buy a share of their home and pay rent on the remaining share.<a href="https://outlook.office.com/owa/?realm=propertyobserver.com.au#_ftn3"></a> </div>
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<div>DOUGLAS OFFERS SIX SOLUTIONS TO THE HOUSING AFFORDABILITY CRISIS:</div>
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<div>1.       DISCOUNTED MORTGAGE RATES FOR FIRST HOME BUYERS. Subsidies already exist for students, with the availability of extremely competitive low-interest rate loans and study assist loans, so why can’t something similar be offered to first home buyers? The role and responsibility of any Government is to serve society and create opportunities for the people it represents. Unlike education, home ownership is not a democratic right, but it is certainly something that a government should help encourage and financially facilitate.</div>
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<div>2.       LIMIT NEGATIVE GEARING. Negative gearing looks as if it is going to be front and centre of the political debate for the upcoming Federal election. Contrary to some reports, negative gearing is not necessarily the domain of the wealthy, but it is certainly not something that the working class always benefit from. I don’t subscribe to the theory that negative gearing is responsible for driving property prices up, but it is definitely a contributing factor, and unlike a lot of my peers, I believe that some form of prudent intervention is now needed. I have to question why the Government ruled out changes to negative gearing in the recently announced Federal Budget, because something needs to give. Regardless of their recent manifesto, I still believe it’s a case of when, not if. The two main political parties seem to be diametrically opposed on this matter, but personally I believe that the solution lies somewhere between the two standpoints. Rather than abolish negative gearing altogether, it could perhaps be less generous or capped to a certain number of properties, for example. This would only apply to new transactions with any existing investments being grandfathered. </div>
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<div>3.       ABOLISH STAMP DUTY ON FIRST TIME PURCHASES. Historically, the Government has tried to entice younger generations into buying property by offering grants, but this is fundamentally flawed in my opinion and has never really worked. Instead, first home buyers should be made exempt from having to pay the exorbitant cost of stamp duty.</div>
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<div>4.       ALLOW FIRST HOME BUYERS TO PURCHASE USING THEIR SUPERANNUATION. In theory, this isn’t a bad idea, but most first home buyers probably don’t have enough money in their super to pay the deposit for a property, especially if they are hoping to buy in Sydney. Rather than simply being able to take the money from their superannuation fund, it should be structured as an interest-free loan, with repayments being made over a long-term period with the full amount needing to be settled before the maturation of the fund.</div>
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<div>5.       SIGNIFICANT INVESTMENT IN REGIONAL TOWNS. One of the key contributing factors of the affordability crisis is the migration of the masses to metropolitan areas; meaning that we all want to live in the same areas and are often left fighting over the same scraps. Many rural locations are deemed by some city dwellers as antiquated outposts. What if there was considerable investment in these areas that would breathe life back into them and make them more attractive to buyers? Over the past few years, the NSW State Government has spent billions of dollars on macro projects within the confines of Sydney, such as large-scale urban regeneration and new or upgraded transport infrastructure. –Imagine what would happen if they spent similar sums on areas such as Maitland, Wollongong and Bathurst. Would they become viable alternatives for people looking to buy a home? The introduction of high-speed rail connections to these areas would certainly enhance their desirability. Another enticement could be to offer incentives to outer-city locations on an exclusive basis</div>
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<div>6.       SHARED OWNERSHIP. The UK’s version of this flexible scheme helps subsidise the purchase price and allows the homeowner to buy bigger shares as and when they can afford to. I think a similar model would work here in Australia. We have to be mindful from a socioeconomic view that property doesn’t just become the reserve of the rich.</div>
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<div>DOUGLAS DRISCOLL is chief executive officer of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.</div>
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