Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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Joel Robinson

First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

Federal Election

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
And there has not been a delay of the NBN… Because of Malcolm Turnbull’s management of the NBN, it will all be finished by 2020, not 2024 as Labor was promising, with speeds that people want and need. – Minister for Industry, Innovation and Science Christopher Pyne, speaking on Q&amp;A, May 23, 2016.
The election campaign has brought national broadband network policy back into the spotlight, particularly as the incumbent prime minister was responsible for the National Broadband Network (NBN) in his previous role as communications minister.
Minister for Industry, Innovation and Science Christopher Pyne told Q&amp;A there has not been a delay of the NBN. Is that right?
<h2>2013: the year of election promises and reviews</h2>
The Conversation contacted a spokesperson for Christopher Pyne seeking comment and sources to support his statement, but did not hear back before deadline.
Nevertheless, most of the documents on the recent history of the NBN can be found online.
As acknowledged in this Coalition document, the previous Labor government promised to deliver an NBN by a deadline of 2021 (not 2024 as Pyne stated on Q&amp;A).
Prior to the 2013 federal election, the nbn co under the then-Labor government said it planned to deliver a predominantly fibre to the premises (FTTP) network by 2021.
But there were delays in negotiating with Telstra for access to ducts and pits, the discovery of asbestos in some of Telstra’s network, and other teething problems.
In their 2013 pre-election promises, the Coalition said its goal was to provide everyone in the nation with access to broadband with download data rates of between 25 and 100 megabits per second by the year 2016. They also planned to deliver between 50 and 100 megabits per second by the end of 2019 to 90 percent of the fixed line footprint. That election commitment, the Coalition said, “assumes the current NBN Co satellite and fixed wireless networks are deployed on schedule.”
But after the election, the Coalition’s dropped its promise to deliver 25 to 100 megabits per second to everyone in the nation by 2016.
Then communications minister Malcolm Turnbull said that a December 2013 Strategic Review of the NBN commissioned by the new government had found that the NBN is in a fundamentally worse position than the Labor Government at any time disclosed to Parliament or the Australian public.
The strategic review also said that Labor’s NBN would not have been completed until 2024.
<h2>2015: New plans</h2>
In 2015, the nbn co issued its 2016 corporate plan.
In this document, the company now estimated that Labor’s plan for an all-FTTP fixed line rollout could be completed by 2026 but possibly as late as 2028.
However, this revised estimate has been challenged by former nbn co CEO, Mike Quigley, who said in a 2015 article that
For that to be correct, one has to assume that for the next 13 years, nbn co will roll out just 12,300 premises per week on average. Fewer premises than it regularly passes each week today… It is almost certainly true that an all-FTTP NBN would take longer to complete than its inferior MTM counterpart [the Multi-Technology Mix proposed by the Coalition]. But it would likely only be longer by one to three years.
In late 2015, an nbn co spokesman was reported as saying that the company had deliberately chosen to take a more gradual approach to [fibre to the node or FTTN] activations than was originally flagged.
<h2>The 2016 leaks</h2>
Early in 2016, internal nbn co documents were leaked to the media.
These and other leaked documents – which were at the centre of a recent Australian Federal Police raid on a Labor offices and a staffer’s home in an effort to find the leaker – were reported as showing bottlenecks and delays in the fibre to the node (FTTN) and hybrid fibre coax (HFC) components of the NBN rollout.
In response, nbn co said: NBN has met or exceeded every key target for six quarters in a row.
Current nbn co chair Ziggy Switkowski wrote on May 28, 2016 that "The company will meet its targets for the ninth quarter in a row… There are no “cost blowouts” or “rollout delays” to the publicly released plans."
It’s beyond the scope of FactCheck to say with any certainty whether the leaked documents accurately reflect the full picture.
It’s important to note that as any technical and other teething problems are resolved, nbn co should be able to ramp up the roll-out rate to improve its chances of meeting a 2020 completion project date.
Internet access speeds around the world are growing rapidly, and this growth is expected to continue for the foreseeable future. Australia’s internet speeds are slow compared to other developed countries.
Verdict
Christopher Pyne’s assertion that there have been “no delays” in the implementation of the NBN is inaccurate. Some delays occurred under the Labor government, and the early stages of the FTTN rollout under the current government have been slower than the Coalition originally envisaged.
Leaked documents and reported statements by an nbn co spokesperson also suggest delays occurred under the Coalition government. However, nbn co rejects that, saying it has met or exceeded its key targets.
Labor promised a completion date of 2021, not 2024 as Pyne said. It was the December 2013 Strategic Review of the NBN commissioned by the Coalition government that said Labor’s NBN would not have been completed until 2024. – Rod Tucker
REVIEW
This article is factual and correct. As stated in the article, delays in the nbn co’s roll out is also self evident by comparing the original deployment date promises made before the 2013 federal election with the the revised schedule outlined in the December 2013 strategic review of the NBN, initiated by the Coalition government. – Thas Ampalavanapillai Nirmalathas
Rod Tucker is laureate Emeritus Professor, University of Melbourne and author for The Conversation. He con be contacted <a href="https://theconversation.com/profiles/rod-tucker-2000" target="_blank">here</a>.
 
 
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jchancellor-FAypfDUnLy

Election FactCheck Q&A: has the NBN been delayed?

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The possibility of a hung parliament is creating disquiet among business owners and commercial real estate investors in Canberra according to Raine &amp; Horne who believe the current instability is hitting the local commercial property market.
Nick Cotis, director of operations Raine &amp; Horne Commercial Canberra said institutional clients are worried the main political parties will be required to shift public sector agencies interstate as part of their negotiations with minor parties and independents.
“This will create a commercial office glut and long-term vacancy rates will blow out, with a consequent hit to yields also a distinct possibility,” he said.
“A constant theme among our investors is that it’s 2016 and not 1901, and that we should be able to get a decision faster. It’s archaic and it’s put the country in limbo, not to mention alone the effect it is having on commercial property markets in Canberra. Plenty of private and institutional investors are questioning why it’s taking so long to get a result in this age of technology.
He added in September last year, office vacancy rates in Canberra were sitting at around 15 percent with strong indications leading up to the election that the Canberra office vacancy rate had fallen to around 12 percent.
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jonathanchancellor-7SQnKwU6yx

Commercial property investors in Canberra call for political clarity

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GUEST OBSERVER
The election result has sent a clear message to all political parties – keep changing superannuation policy at your electoral peril.
Although it was the Coalition Government that felt a backlash from voters in the wake of the Budget measures around superannuation that caused so much public angst, the reality is both the major parties were culpable as Labor included these savings in its fiscal estimates. 
What the electorate has rightly discerned is that superannuation is increasingly being seen by all the political parties as a cash cow that can be milked for fiscal reasons. 
However, what we have seen in the election is that many of the people have said ‘enough is enough’, and that there will be an electoral cost if you continue to change the policy settings by which people plan their retirement income strategies. 
It has to be remembered why compulsory superannuation was introduced in the first place – to give people the opportunity to be self-sufficient after leaving the workforce. 
In the SMSF space, in particular, trustees assume the responsibility to be financially independent in retirement, and all they ask of their elected representatives is to determine the policy settings and then leave the system alone. 
Right now it is a difficult time for trustees with volatile investment markets around the globe the order of the day and interest rates at historical lows. 
To compound these market-related issues they have to continually second guess what the government of the day will do with superannuation policy, especially as it relates to its tax treatment. But after last Saturday, it seems doing so might come at a high political cost.
Olivia Long is chief executive officer of SMSF administrators Xpress Super and SuperGuardian and can be contacted <a href="https://www.xpresssuper.com.au" target="_blank">here</a>.
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Election result sends message to politicians – keep your hands off super

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
For the second time in the space of ten days, it appears that betting markets and pollsters have got it wrong. First, despite odds showing a 90 percent likelihood of “Remain” winning, the UK voted to “Leave” the European Union in its June 23 referendum.
Now, a mammoth federal election campaign has resulted in political stalemate in Australia, and the result will not be known until Tuesday at the earliest.
Clearly, the repercussions of a hung parliament are not as wide-ranging as “Brexit” and we are unlikely to see Canberra’s streets flooded with protesters. However, when Australian markets open on Monday they will still be faced with a high degree of political uncertainty. Investors do not tend to react favourably to such ambiguity.
<h2>Investors reduce risk under political uncertainty</h2>
Investors tend to respond in one of two ways. The most-common situation is for the political uncertainty to manifest in higher levels of market volatility and a flight to quality as investors try to reduce their exposure to risk.
This was what we witnessed post-Brexit: Australian stockmarkets and the dollar fell by more than 3%, while “safe” government bond yields hit an all-time low.
An alternative is for markets to become locked in stasis – where investors sit on their hands, unsure as to whether they should buy or sell. Market liquidity falls and asset prices become resistant to change.
This is effectively what happened following the hung parliament of August 2010. In the aftermath of that election, stock prices remained within a tight trading range and the dollar hardly budged over the course of the following week.
When the result of the 2016 election is finally known, it appears that the outcome will be either a minority Coalition government or a hung parliament. The Senate is likely to be more fractious than prior to the election.
Talk has already started about potential unrest among the conservative faction of the Liberal Party who supported former prime minister Tony Abbott. There is even discussion of an election re-run if the parliament proves ungovernable. Clearly, this uncertainty could linger for months.
<h2>Concerns for jobs and growth</h2>
The likelihood of a lengthy period of uncertainty is important. It means it will be difficult to pass any economic or budgetary reforms. Without such reforms, it is unlikely the budget will return to surplus in the near future (if ever) and it becomes more likely that the AAA credit rating will be lost.
This creates multiple concerns for Australian financial markets, and the broader economy. A credit rating downgrade will likely increase the cost of funding for Australia’s banks.
The Big Four banks will be particularly impacted given the significant role that offshore funding plays in their balance sheet management. This will mean higher interest rates for borrowers – which would not be beneficial for the housing market.
A prolonged period of uncertainty will make it difficult for firms to finalise investment decisions. At a time when the economy is still attempting to transition away from the boom in mining investment this will dent economic growth and employment. So much for “jobs and growth”.
Essentially, this is a recipe for a “risk-off” environment of declining stockmarkets and a depreciating Australian dollar. It is also likely that the market will price a higher likelihood of a reduction in the RBA target rate at the July or August meeting. This will further aid a continued rally in relatively safe government bonds (bond prices rise as yields fall).
If you consider the ongoing political uncertainty resulting from Brexit and the forthcoming US presidential elections in addition to the federal election, then months of nervous markets may lay ahead.
Lee Smales is senior lecturer, Finance, Curtin University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/lee-smales-104586" target="_blank">here</a>.
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Hung parliament may lead to investor uncertainty

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Abolishing the current negative gearing and capital gains rules could have a drastic impact on the property market, possibly flooding the market with property as investors transition to different financing models according to Sam Comer, senior manager of Tax Advisory for Crowe Horwath, part of Findex.
She said for property investors their election decision could largely be steered by the impact any new policy will have on their investments and retirement planning. 
"With property usually being purchased with much higher leverage than shares, a change in the ruling would have the most drastic impact on the property market, which has always been a strong backbone of the Australian economy and investment main stake for mums and dads investors.," she said.
 ‘If we are seeing the negative gearing ruling changed, I anticipate a strong shift toward SMSF [self managed super fund] investing, taking the already strong trend to a massive migration. I don’t thing the full flow-on effect a new ruling would have has even been contemplated.
 For those voters out there unsure of the potential impact their vote would have on their investment strategy, <a href="https://www.ratecity.com.au/" target="_blank">RateCity.com.au</a> has released an Election Calculator.
 According to statistics from <a href="https://www.ratecity.com.au/election-2016" target="_blank">RateCity’s Election Calculator</a>, in NSW  5 percent of people under 80k, 12.3 percent(of total) plan to neg gear,  34.6 percent between 80-180k, 20.4 percent plan to neg gear, and 10.3 percent over 180k, 6.6 plan to neg gear.   While in Victoria, 62.2 percent under 80k, 11.2 percent neg gear, 35.2 percent between 80 and 180, 18.8 percent to neg gear, 7.6 percent over 180k, 5.1 percent to neg gear, and in Queensland, 56.1 percent under 80k, 7.2 to neg gear, 35.3 percent between 80-180, 16.7 percent to neg gear, and 8.6 percent over 180, 5 percent to neg gear.   
According to the data, RateCity claim Labor should be further ahead than it currently is depicted at in news polls.
Business owner and interest home buyer Michael said he was very surprised by the result – he has always been an avid Liberal voter, but discovered that Labor might be more beneficial for him from a financial perspective. 
"I have voted Liberal all my life and hadn't thought much about how the way I voted impacted me financially. This is certainly something worth taking into consideration."
<a href="/images/2016/07/01/newspollcompare%201.jpg" target="_blank">Click to enlarge</a>
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Negative gearing battleground underpins election decision for voters

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The vast majority of renters polled for a recent survey believe their needs have not been met by the major political parties during the election campaign.
The 2016 Federal Election survey conducted by Rent.com.au polled 1,541 people and found 83 percent of renters feel they have not been acknowledge in the lead up to the election.
While housing affordability, health and economy featured as key priorities, Renters have called for more support, improved services, financial incentives and the recognition of renting as an accepted lifestyle choice in Australia.  
Rent.com.au chief executive officer Mark Woschnak, said an upward trajectory in renter demographics, particularly in the 18-35 age range reflects a growing market, and one in need of more advocacy and recognition.
"In Australia, we appear to be at a point of increased momentum in the vocalisation of the needs of renters and we're seeing a shift from the traditional stereotypes that have existed around home ownership," he said.
"There is no doubt that an increase in housing affordability issues, job mobility, lifestyle and investment preferences, is causing this trend. 
"Our data confirms renters are tired of being viewed as second class citizens and disregarded as not having the same respect towards their property as an owner. A rental property is a person’s home and lifestyle choice. A more balanced view is required and we're committed to proactively addressing it."
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Renters overlooked in election campaign: Rent.com.au

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Come election time, voters could be forgiven for seeing transport infrastructure as a slush fund. Politicians insist they’re all for sound economic management, but we might well be cynical about how much that really matters in the race to win votes.
The main parties have made big commitments to transport in this campaign. The Coalition has promised A$5.4 billion, Labor A$6.7 billionand the Greens A$6.5 billion.
The 2016 election follows the pattern of the past decade where more money is promised in Queensland than in any other state. Grattan Institute’s recent report, Roads to Riches, found that over the past decade Queensland received a disproportionate share of Commonwealth transport investment – in aggregate, per head, and compared to its relative need as a state.
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<h2>A lack of consensus?</h2>
Line up the parties’ election promises against the others, though, and it’s remarkable how little consensus there is.
In New South Wales, only about 15% of the promised money has been pledged by more than one party.
There is not one project that all three parties have promised to build, and not one project that both the Coalition and the Greens have committed to.
We once had no way of knowing a good project from a bad one, but that was before the federal government set up Infrastructure Australia. It is charged with assuring the quality of government investment by assessing business cases against a national significance test. Generally, these business cases are for projects where state governments want a Commonwealth funding contribution.
Sometimes Infrastructure Australia identifies gaps on its own initiative. It is only involved in projects that are both nationally significant and worth more than $100 million.
The funding proposals are sorted into three categories:
<ul>
<li>
If there is a full business case and the proposal is worth doing, it is classed as a “project”. An example is the WestConnex motorway in Sydney.
</li>
<li>
If there is a full business case but the project is not worth doing, it is not classified but Infrastructure Australia publishes the evaluation on its website. An example is the Winchelsea to Colac road duplication, with an extraordinarily low benefit-cost ratio of 0.08 – that is, only eight cents worth of value for every dollar spent.
</li>
<li>
If there is not yet a full assessed business case, the proposal is classed as an “initiative”; the Melbourne Metro Rail proposal, for example.
</li>
</ul>
It should be simple. All parties should commit to the “project” list – in part or in full – and then stop spending. These “projects” have been properly assessed and found to be worth doing, and specifically worth doing by the federal government because they have some national significance.
But that is not what is happening. The Coalition, Labor and the Greens are making substantial commitments to projects that not only lack proper business cases, but are not even on the Infrastructure Australia priority list at all. This includes projects like:
<ul>
<li>
the Walkerston Bypass in Queensland ($150 million from Labor) and the Townsville Ring Road and related infrastructure ($900 million from the Coalition), which could not even under the most charitable definition be described as nationally significant;
</li>
<li>
the duplication of the Princes Highway from Winchelsea to Colac in Victoria (to which the Coalition has promised $181 million), which Infrastructure Australia has rejected as not worth doing; and
</li>
<li>
small projects, such as a $32 million roundabout upgrade at Hobart Airport promised by Labor, that are not subject to the Infrastructure Australia assessment, or often to any other evaluation either.
</li>
</ul>
Almost all the funding promised by all parties is for proposals that lack a proper business case. Some of this spending may turn out to be worth doing; much will not. Only a small share of it is for projects that we know to be worth doing.
The Coalition’s spending is more aligned with the projects we know to be worth doing than the other parties’, and Labor’s is slightly better aligned than the Greens’.
<a href="/images/2016/06/27/image-20160623-30289-w5j724.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/27/image-20160623-30289-w5j724.png" alt="">
If the parties were to commit to the whole list of projects that we know to be worth doing, it wouldn’t send us broke. Only seven items have been classified as “projects”. These are the WestConnex motorway and the M4 motorway upgrade in NSW, the Ipswich Motorway and the M1 Pacific Motorway in Queensland, the Perth Freight link and the Mitchell Freeway extension in Western Australia, and Brisbane-to-Melbourne inland rail.
Some are certainly expensive, but so too are many other proposals of uncertain value that parties have committed to anyway.
It turns out that all parties have ignored or shunned projects that we know to be worth doing. Two of the seven worthwhile “projects” have no support from any party in this campaign. These are the M4 motorway upgrade and the Mitchell Freeway extension.
<a href="/images/2016/06/27/image-20160623-30283-af54jk.png" target="_blank">Click to enlarge</a>
<div class="enlarge_hint"><img src="/images/2016/06/27/image-20160623-30283-af54jk.png" alt=""></div>
<h2>Why parties pick the wrong projects</h2>
Failing to choose these projects seems like not bothering to pick up $50 notes from the floor. Why do parties do this?
A big clue lies in the state breakdowns. All parties want to spread their spending around, unless the state or territory in question offers no electoral advantage. But the projects known to be worth doing are spread unevenly – two are in NSW, two in Queensland, two in Western Australia and one is national.
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Another clue is that parties want to spend in the regions, but most proposals that stack up are based in major cities, improving commuting and connections with ports and airports.
Most of Infrastructure Australia’s “project” assessments are urban. The NSW projects are both in Sydney. The Queensland projects are in Ipswich and a link between Brisbane and the Gold Coast. The Western Australian projects are road projects substantially centred on Perth. The sole non-urban project is rail, running from Brisbane to Melbourne via inland NSW.
A third clue lies in the mode of transport that the parties favour. Prime Minister Malcolm Turnbull’s enthusiasm for public transport notwithstanding, the Coalition tends to choose road over rail more than Labor does.
The Greens have taken the approach of committing to one major public transport project in every capital city – none of which have been classified as “projects” by Infrastructure Australia, and most of which are not even on its initiative list.
A fourth clue lies in project size. The Coalition and Labor have both promised a large number of small projects on top of their big commitments. By contrast, the Greens have only their major capital city public transport proposals, although they would probably support a government seeking to advance proposals such as the Gold Coast light rail.
<h2>It doesn’t have to be this way</h2>
All three major parties exhibit a big gap between what they say and what they do. All claim to support proper process, both to get the infrastructure needed and to spend money wisely.
The parties may well excuse their bad habits by saying the voters seem to like them. On one level this is true – if you are the direct beneficiary of a new road-widening project on a country highway, or if you travel to the airport regularly but don’t like buses, you may understandably support the candidate offering the big new road or the airport rail link.
By contrast, the losers are dispersed, and the boondoggles are paid for by worthwhile projects that are never built.
Australia doesn’t have to guess what transport infrastructure to build – it has a process that determines the answer. Cost-benefit analysis, with all its imperfections, remains the one way we can compare projects on a like-for-like basis.
Marion Terrill is transport program director, Grattan Institute, and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/marion-terrill-169480" target="_blank">here.</a>
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Will the election 2016 infrastructure promises meet Australia's needs?

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Total auctions for the combined capital cities are steady with 2,110 scheduled with a fall in Melbourne auctions for this weekend and a climb in Sydney auctions when compared to last week, according to CoreLogic.
CoreLogic's weekend auction preview found auctions in Sydney, Brisbane and Adelaide increased this week to last and auction levels in Canberra, Melbourne and Perth is lower.
Melbourne will be host to 982 auctions and Sydney, 778 residential homes will be auctioned.
Capital city auctions this week:
<ul>
<li>Sydney: 778</li>
<li>Melbourne: 982</li>
<li>Brisbane: 161</li>
<li>Adelaide: 86</li>
<li>Perth: 39'</li>
<li>Canberra: 55</li>
</ul>
 
Domain's Dr Andrew Wilson said sellers have surged into the market over the past fortnight to avoid a clash with the federal election to be held next weekend.
"This weekend presents another strong challenge for the Melbourne auction market with unseasonably high listing numbers," he said.
"Auction activity will decline sharply over coming weekends as the typical seasonal hibernation subdues the market.
"Low and falling interest rates and increased interest from investors will however continue to fuel strong buyer demand for homes in Melbourne’s north and west – despite the winter chill."
He said the Sydney home auction market bounced back strongly last Saturday following the previous weekend’s holiday pause with no sign yet of the usual winter slow-down in the market.
"Although Sydney recorded an overall strong result last weekend, the suburban region results continued this year’s pattern of inner-suburban, higher -priced regions producing clearly the highest clearance rates," he said.
"Sydney’s outer west and south west regions, although still trailing the inner suburbs, have however consolidated recent improvements and continue to report clearance rates well above the lows recorded earlier in the year. 
"The Sydney weekend auction market continues its recent surge with clearance rates now consistently above the results recorded earlier in the year. Clearance rates have exceeded or been close to 80 percent over four of the last six weekends that has included the typically quieter holiday break last week."
 
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Race to list leading into federal election

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The Real Estate Institute of Western Australia has kicked off a campaign to engage with the WA community as proposed changes to negative gearing are debated. 
In the lead up to the Federal Election, REIWA is seeking the thoughts and opinions of West Australians who use property to help shape their lives and secure their future. 
As part of the campaign, REIWA will share local research and survey results to ensure a balanced conversation on negative gearing. 
REIWA President Hayden Groves said that the current debate around negative gearing doesn’t focus on the role property plays in the lives of everyday West Australians. 
“The proposed changes to limit negative gearing to newly built properties will not fully address the issue of housing affordability. Housing affordability can only be solved with a combination of supply levers and planning and development policy reform,” he said. 
“Rather than tinker with negative gearing, we’ll be promoting the need for broader tax reform where the system is simple, fair and efficient. Changing just one part of a very complex system can lead to inefficiencies and distortions. 
“Over the coming weeks, we’ll be running a series of surveys with members of the WA public to find out what matters to them in regards to property ownership.” 
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REIWA kicks off local discussion on negative gearing

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The decision by Prime Minister Malcolm Turnbull to pull the trigger on a rare July Federal Election will provide the Australian property market with a significant shot in the arm.
Australians were generally wary of buying or selling a residential property during the lead-up to a federal election.
Generally, whether we’re buying or selling, we tend to wait until the election is decided just in case there are any unforeseen surprises.
Now that the election has been called for July 2, this represents the perfect timing from our point of view, as winter is typically a quieter time for property sales.
A July poll will enable vendors to list their properties in July and August, and it won’t affect their buying plans through the traditional spring selling season.
This decision, while it mightn’t help real estate activity during the two month election campaign, it will put vendors in an excellent position to meet their property goals by the time the traditional selling season begins in early September. 
Changes to negative gearing or the capital gains tax discount could potentially fall under the label of ‘unforeseen changes’. 
Real estate investment is a favoured asset class by millions of Australian voters because it is deemed safer than shares and easier to understand than bonds.
Making changes to negative gearing or capital gains would be a brave decision, especially as Australians don’t have a particularly strong record when it comes to savings and investing.
Therefore removing a strategy that is encouraging investment seems ill-conceived to me.
Governments would be better off considering ways to encourage more owner-occupiers to buy into new properties than attempting to stymie the investor market.
With some checks and balances, providing some limited stamp duty tax breaks, for example, for those upgraders buying into new properties, might be worth considering.
Good government is about creating some new policy ideas rather than just raking over old coals.
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Angus Raine is executive chairman, <a href="https://www.raineandhorne.com.au/" target="_blank">Raine &amp; Horne</a>.
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