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

Joel Robinson

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

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

[smartcode_project_cta:default project_id=152125]

Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

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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