Leeka Group has gone down the path of bringing a heightened level of wellness to its recently unveiled Melbourne apartment development, Comme Prahran.

It isn't in the form of a suite of amenities, given the building is more boutique in nature with just 32 apartments, but with clever inclusions designed to uplift their residents lifestyle.

<a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme</a>, directly opposition the iconic Prahran Market on Commercial Road, has been designed by renowned architecture studio <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> and&nbsp;will introduce the first-of-its-kind multi-dimensional wellness offering, where physical, mental, social, environmental, and cultural well-being are embedded throughout.

“Prahran has long been a destination for culture, community and quality of life, and Comme builds on that in a deeply intentional way,” says Leeka Director, Chek Ming Cheng.&nbsp;

“This project introduces a new kind of urban sanctuary, one that adapts to individual definitions of wellness, whether that’s through nutrition, rest, movement, design or connection. Every space has been thoughtfully shaped to support the diverse rhythms of modern life."

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There will be a rooftop with a&nbsp;Zen garden designed by <a href="https://www.apartments.com.au/landscape-architect/plume-studio">Plume Landscape Architects</a>, offering&nbsp;a sensory experience that activates all five senses, an edible herb wall to taste, calming botanicals to smell, reflexology paths to feel, lush plantings to see and the gentle sounds of water and birdsong to hear.

Inside each residence, wellness is deeply personal, and Comme embraces this individuality with a suite of customisation options designed to enhance both health and lifestyle. Residents can tailor their homes with circadian lighting automation, supported by research linking it to improved well-being, better rest, and even longevity.&nbsp;

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Other add-ons residents can opt for include real-time air monitoring and purification systems, ensuring a cleaner, healthier environment, while blackout blinds help optimise sleep quality. Additionally, the option to include integrated smart home technologies and security measures with multiple controlled access points offers ease, convenience, and peace of mind, supporting day-to-day living and contributing to overall mental well-being.

Kitchens can be fitted with healthy cooking appliances such as steam ovens and taps for instant filtered, sparkling or hot water, while ensuites can be transformed into spa-style sanctuaries complete with steam showers, heated floors, rain heads, smart toilets, and sensor night lights to support restful sleep cycles. In the penthouse residence, further options include an outdoor spa for enhanced recovery and indulgence.

“Comme isn’t just about design, it’s about how space can support your day-to-day life," Chek added.

"Whether you like a steam shower, checking your indoor air quality, simply enjoying a quiet moment in the rooftop garden, or reflecting on the artworks in the building, wellness is part of your everyday routine, not an afterthought."

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The residences will feature open-plan layouts compliant with Better Apartment Design Standards (BADS), with floor-to-ceiling windows that maximise ventilation, natural light and thermal comfort. Finishes such as natural stones, timber flooring and low-VOC paints are complemented by facade design that filters dappled light and aids in thermal comfort.

Cera Stribley, Co-Founder, Domenic Cerantonio, said the first thing you notice is the light.

"Natural light floods the living spaces, casting a soft glow that instantly lifts your spirits. It's as if the outside world melts away, and you're cocooned in a peaceful oasis."

The gallery-style residential lobby will feature circadian-inspired lighting and artwork, while the ground-floor will offer retail and hospitality spaces.

The building’s mixed-use design fosters connection, with ground-floor retail and hospitality creating a vibrant, welcoming destination. These spaces are thoughtfully designed to enhance the precinct and bring it to life.

&nbsp;

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Sustainability and environmental responsibility are integral to Comme Prahran’s DNA. All homes are gas-free and designed to a 7-star energy average, with double glazing, WELS-rated plumbing, and EV charging capabilities available. A light-coloured exterior has been chosen to minimise heat absorption, supporting thermal efficiency and reducing reliance on artificial cooling.

Honouring the cultural richness of Prahran, the project reimagines an Edwardian-era landmark, integrating its historic character into a contemporary architectural form. Art experiences will activate the residential and retail lobbies, and a dedicated artwork on the external eastern facade will enrich the building’s street presence, embedding it into the creative fabric of the neighbourhood.

&nbsp;

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Joel Robinson

Comme Prahran launches opposite Prahran Market

Apartment developer Third.i has seen "overwhelming interest" in its recently unveiled new harbourside apartment project, The Rushcutters.

<a href="https://www.apartments.com.au/new-apartments/the-rushcutters-51-57-bayswater-road-rushcutters-bay-nsw-2011">The Rushcutters</a>, which is being delivered in partnership with James Packer's NPACT, will comprise just 13 luxury two- and three-bedroom apartments.&nbsp;

Demand is predominantly coming from local downsizers.

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“We’ve been absolutely blown away by the level of interest in The Rushcutters,” said Luke Berry, Director and Co-founder Third.i Group.

“It’s clear that buyers are seeking more than just a place to live, they’re looking for a lifestyle upgrade. The ability to amalgamate apartments into expansive, whole-floor homes is a game-changer for downsizers who want space without the maintenance of a traditional house.”

The Rubinstein Group is marketing the project alongside Hume Residential and JLL.

“It’s no surprise that if you’re downsizing from a five-bedroom house in Bellevue Hill, for example, you want to maintain that sense of space and luxury when looking for your next home, "&nbsp;Gavin Rubinstein, Founder of The Rubinstein Group, said.

“The Rushcutters is a great fit. Amalgamating apartments to create a bespoke, whole-floor home is a natural progression for buyers who aren’t willing to compromise on size and/or quality.”

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Amalgamating apartments has become a common theme among high-end buyers across Third.i's portfolio including Muse in Potts Point, and Elevate Hume Place in Crows Nest, which set a Lower North Shore apartment record with the $15.1 million sale of an amalgamation of a penthouse and sub-penthouse.

“We’re witnessing a clear shift towards more amalgamations in a number of our projects across Sydney,” said Jason Fraser, Principal at Woods Bagot.

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“The ability to combine apartments is enabling buyers to create truly unique, house-sized residences with high-end finishes, and proximity to vibrant urban precincts. The desire to amalgamate apartments to bespoke, house-sized residences is becoming a defining feature of Sydney’s evolving luxury apartment market."

Due to the City of Sydney’s no net dwelling loss policy, Thirdi is only able to offer one level for amalgamation at The Rushcutters, combining two apartments into a single, expansive residence.

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The Rushcutters a "great fit" for downsizers

Lower North Shore developer <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has secured development approval for its ultra-luxury residential project on the <a href="https://www.apartments.com.au/new-apartments/34-burran-avenue-mosman-nsw-2088">dress circle Burran Avenue</a>.

The project, just&nbsp;50 metres from Balmoral Beach within Mosman’s prestigious Golden Triangle, will commence construction in early 2026,&nbsp;following the successful completion of its nearby Hampden Mosman project.

Lodged in April 2025 and approved in September 2025, the development will comprise three whole-floor residences, each designed to capture panoramic harbour views through Sydney Heads.

<img alt="34 Burran Avenue, Mosman" data-entity-type="file" data-entity-uuid="7f4c7816-0ac8-4ef7-be0a-8ef23b693b68" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/BURRAN%20EV01%20R04%20option%201%20%281%29.jpg?VersionId=gVzI8pT6_K59Nhzaz0FLEvY6Kj9Kc8Fg" />

Set on an elevated 550 sqm corner site at the junction of Burran Avenue and Stanton Road, the building has been designed to sit within Balmoral’s natural slope. The façade mixes stone and metal cladding with angular forms, while oversized terraces and full-height sliding doors create a connection between interior living spaces and outdoor entertaining areas.

The delivery team from Abadeen’s Hampden Mosman project, which includes construction company Reform Projects and interiors company Mathieson, has been retained to bring the same level of execution and craftsmanship to Burran Avenue.

<a href="https://www.apartments.com.au/architects/platform-architects">Platform Architects</a> has been appointed project architect, bringing extensive experience from recent luxury residential projects in Manly, Fairlight and Freshwater.

&nbsp;

Justin Brown, Executive Chairman and Founder of Abadeen, said sites of this calibre, this close to Balmoral, are incredibly rare.

“Burran Avenue is an extraordinary site; its location, its scale and its outlook make it truly one of a kind. Receiving DA approval marks an exciting milestone for Abadeen."

"We’re proud to be moving forward with an exceptional team to deliver a project that will set a new standard for ultra-luxury living on Sydney’s Lower North Shore. Construction is planned to commence in early 2026, and interest is already strong from discerning local buyers who recognise the uniqueness of this address."

Brown anticipates prices will set new Mosman benchmarks above $20 million. Sales are expected to launch in March 2026.

Abadeen approved for Mosman's priciest apartments

Lifestyle developer <a href="https://www.apartments.com.au/developers/gurner">GURNER™ Group</a>, in partnership with Costa Property Group, has announced plans to reimagine Cunningham Pier in Geelong, one of Victoria's most recognisable heritage landmarks.

The announcement follows the City of Greater Geelong’s release of its Draft Geelong Waterfront Master Plan, which seeks to revitalise the waterfront with new energy, tourism, and investment. GURNER and Costa Property Group’s vision aligns with the Council’s ambitions to create a vibrant, connected, and economically powerful precinct for the community.&nbsp;

The future of Cunningham Pier will draw inspiration from Sydney Harbour’s luxury waterfront residences through to Dubai’s sculptural pier-edge towers, blending architectural excellence with &nbsp;resort-style living, hospitality, and public amenity.&nbsp;

The concept, described as “Saint Moritz on the Sea”, is envisioned to include:&nbsp;

<ul>
	<li>Six-star hotel accommodation and services&nbsp;</li>
	<li>World-class restaurants, bars, and public spaces&nbsp;</li>
	<li>High-end residential offerings&nbsp;</li>
	<li>Entertainment and cultural venues&nbsp;</li>
	<li>Potential cruise ship port facilities, integrating Geelong into the global travel network&nbsp;</li>
</ul>

The transformative project aims to become a magnet for tourism, investment, and innovation, while &nbsp;ensuring continued public access and connection to Corio Bay’s pristine waterfront.&nbsp;

Cunningham Pier has been operated by Costa Property Group for more than 15 years, with the City of Greater Geelong expressing strong support for strategic commercial partnerships that unlock &nbsp;tourism-led economic development for the region’s fast-growing population.&nbsp;

Tim Gurner, Founder &amp; Executive Chairman, GURNER™ Group, said the project is a "once-in-a-generation opportunity to put Geelong on the global map," adding that their version will be of what icons like the Opera House, Story Bridge or Empire State Building have done for other great cities.

“We’ll be working hand-in-hand with the Mayor, Council, the local community, and State Government to deliver something truly iconic that positions Geelong on the world stage. This project brings together everything we’ve built our brand on – world-class design, hospitality, &nbsp;lifestyle, and experience – all in one place. From six-star hotels and restaurants to the possibility of a &nbsp;new cruise ship terminal and luxury residences, the vision is extraordinary.”&nbsp;

City of Greater Geelong&nbsp;Mayor Stretch Kontelj said he welcomes the "bold and inspiring vision reimagining our beloved Cunnigham Pier as a global destination."

"This ambitious plan and the opening of Nyaal Banyul Geelong Convention and Event Centre next year have the potential to take our already world-class waterfront to even greater heights.”

Sydney Harbour, Dubai pier towers, to influence Gurner's Cunningham Pier, Geelong development

<a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a> is one of Melbourne's longest standing architecture firms.

Founded in Melbourne in 1853 by Joseph Reed, the firm began as Reed &amp; Barnes and has evolved through various partnerships before adopting the Bates Smart name in the 20th century. With a continuous presence spanning more than 170 years, the practice has played a pivotal role in shaping Melbourne’s architectural identity.

In the 19th century, Bates Smart designed several of Melbourne’s enduring landmarks, including the Royal Exhibition Building (1880), a UNESCO World Heritage site, and the Melbourne Town Hall. The firm’s influence continued into the 20th century with notable works such as Ici House (1958), considered Melbourne’s first modern skyscraper and a milestone in post-war Australian architecture.

One of their landmark designs was&nbsp;The First Church of Christ, Scientist, at 336-340 St Kilda Road. The building, which is listed on the Victorian Heritage Register, was designed by Bates, Peeble and Smart with construction completed in 1922. Architecturally, the building is significant as a rare example of early twentieth century classicism applied to a religious building. Historically, the building is significant as the first church of the Christian Science movement.

Melbourne developer Time &amp; Place decided to bring Bates Smart back to the area to design their next residential apartment project, Park Modern.

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<a href="https://www.urban.com.au/new-apartments/park-modern-south-melbourne-1-middleton-lane-south-melbourne-vic-3205">Park Modern</a>, on one of the largest island sites on the Melbourne CBD fringe, bordered by Dorcas Street, Wells Street, and Middleton Lane, will comprise two sculptural towers. It is being positioned as a design-forward response to evolving owner-occupier preferences in the Domain precinct.

Tim Price, Director at <a href="https://www.apartments.com.au/developers/time-place">Time &amp; Place</a>, says&nbsp;Bates Smart have got a footprint on this city, probably like no other architect.

"It’s a really nice kind of next chapter story, that they created from a design perspective so long ago," Price told Apartments.com.au.

Park Modern will be the third time Time &amp; Place has worked with Bates Smart, having successfully designed and delivered Collins House and Opera on St Kilda Road together.

The brief focused on creating a built form that would feel contextually appropriate while offering a contemporary evolution of inner-city apartment living.

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The focus for Park Modern is squarely on owner-occupiers.

“It’s not always about downsizing," Price says.

"Sometimes it’s just about creating a space which is easily maintained, lock up and leave, reflecting people’s aspirations, whether they’re entertainers, big dining room spaces, big open terraces, they’re important parts of any design consideration.”

The building includes a mix of one, two and three-bedroom apartments, as well as penthouses, with layouts and floor plans designed to suit a broad demographic. The architecture has been shaped to capture&nbsp;view corridors to the Botanic Gardens, Port Phillip Bay and the CBD skyline.

Each apartment has been oriented to maximise natural light and provide a clear outlook, elements often cited by owner-occupiers as key criteria.

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Rather than defaulting to a generic luxury offering, the amenity strategy at Park Modern reflects specific insights into how residents want to live. The ground floor will include co-working areas, wellness facilities, and a concierge-led lobby that blends indoor and outdoor design cues.

“Wellness has become a more thoughtful consideration, not just gyms or lap pools, but things like magnesium plunge pools, saunas, daybeds, and studio spaces for Pilates and the regular cardio workout,” says Price.

One notable inclusion is a substantial porte-cochère, a covered vehicle drop-off zone integrated into the site plan. It’s a feature rarely seen in inner-urban developments and speaks to the team’s emphasis on ease of arrival and departure for residents and guests.

A display suite for Park Modern is now open by appointment, giving prospective buyers an early look at the project.

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100 years on, Bates Smart returns to South Melbourne's Domain Precinct to design Park Modern

Home Affordability

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With each property development we manage, we'll fine tune the process so that on the next one, we'll do something a little differently to improve the results. 
After completing over 80 developments, our process has become pretty refined. But there is always something we can improve on. 
Sometimes they are just small tweaks that can make a massive difference. This particular example I'll share with you shaved literally a month off the planning process.
At Property Bloom we work across a number of different councils and each council has their own way of looking at and processing a Development Application (DA). It can be easy to make assumptions based on past experience. 
So when we started working in a new location that fell under a council we'd not yet worked with, we assumed they'd review our plans in the same fashion as the other councils. The first few DAs (all assigned to different town planners) were processed within about 7-8 weeks on average. This is a lot longer than we liked but still not as bad as another council's processing times. It fell somewhere in the middle of our best and worst processing times. 
The time your DA is in council is dead time, there is not too much you can do whilst you wait for the consent in case changes need to be made. We tend to use this period to choose material and colours.
Even after working with some councils for ten years, it will come down to the individual town planner who is assessing your DA and what they like to see marked on your plans. If they request 'more Information' then your DA is put on hold until they receive a response.  
This particular DA was assigned to a planner we'd not yet worked with at this council. We received a letter requesting more information on off street parking locations. The plans detailed a single garage for each villa. The requirements are to provide two parking spaces. Obviously one is in the garage - but here's where our assumption kicked in -  we thought the planner could 'see' that the second space was on the driveway as a stacked or tandem parking space.  
We quickly marked this on the plan and immediately sent it to the planner, and within three days we had the DA Consent on our desk. This set a record of processing time with this council - four weeks, down from eight weeks. 
It goes without saying that this was added to our list of what to include on the plans and we made a mental note never to assume. We are now a month ahead of schedule and our client is happy to save time and holding costs.
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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jochivers-wq5Bp59R5a

Drop assumptions and save time on your planning process: Jo Chivers

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GUEST OBSERVATION
Jeannie loves her apartment. It has a separate bedroom, a small bathroom, and an open-plan kitchen, lounge and dining area. It’s compact, but sliding doors open onto a generous balcony to create a larger living space. Jeannie often takes her meals on the balcony, where she can sit surrounded by pot plants and enjoy a view across houses with leafy backyards.
Jeannie’s three-year-old apartment is one of 57 single-bedroom units in Caggara House, a five-storey affordable housing development. It’s in a quiet street in Brisbane’s Mount Gravatt, within easy reach of shops, a medical centre, cafes and public transport.
Jeannie has spent much of her life in public housing on Brisbane’s south side. She brought up her three children in a three-bedroom commission home in nearby Holland Park.
After they had all flown the nest she downsized to a two-bedroom townhouse in Annerley. “It was more central,” she says, “just five to ten minutes from the city, which was good when I was working on call as a casual.”
Eventually, though, getting up the stairs became a problem, and Jeannie felt a bit unsafe living at ground level. At Caggara House there is a security entrance, a lift to her third-floor apartment, and wide passageways and doorways, so it is both safe and easy to navigate for someone with limited mobility.
Caggara is split into two buildings with a landscaped garden in between to give the complex a “green lung”. There is a shared barbecue area, a communal laundry, and a common room for parties, meetings and exercise classes. The development has won prizes for an energy-efficient design that provides for both privacy and social interaction.
Yet the real innovation is in the concept — it provided well-located, high-quality housing for low-income residents aged 55 and over, while freeing up resources to add to Brisbane’s overall stock of affordable housing. This might sound like a magic pudding, too good to be true, but Caggara’s residents previously lived alone in state-owned houses that were too big for their needs. Those houses were worth about A$500,000 each. It cost a little more than half that much to build each of the units in Mount Gravatt.
In this way, an investment of A$15 million in Caggara freed up A$25 million worth of assets that could be put to better use, either by accommodating families on the waiting list for social housing or by being sold to raise capital for new buildings.
<iframe src="https://www.youtube.com/embed/zpArAtKjkmc?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Caggara House was created for former public housing tenants over the age of 55.
Community housing pioneers around the country
Caggara House is an initiative of the not-for-profit Brisbane Housing Company. It’s a provider of what is often called community housing, to distinguish it from the public housing supplied by state authorities (even though they serve a common client base of low-income tenants). Since it was set up in 2002, BHC has built 1,300 affordable rental dwellings and earned the same AA- credit rating as the Commonwealth Bank.
Housing First (previously the Port Phillip Housing Association) is another innovative community-housing provider. It has 1,200 dwellings scattered around Melbourne. And, like BHC, it forms strategic partnerships with private developers, other community organisations, and all tiers of government to build energy-efficient homes with low running costs.
In Sydney, affordable housing provider BlueCHP has a portfolio of 1,600 properties. In November 2017 it opened Macarthur Gardens, a mix of apartments clustered in three towers close to Macarthur Railway Station, Macarthur Square Shopping Centre, and Western Sydney University. BlueCHP manages 56 of the dwellings as below-market rentals for low-income households and is selling the other 45 to help finance the project.
Macarthur Gardens is the largest residential complex in Australia built from cross-laminated timber. BlueCHP was the first developer in New South Wales to use this cost-effective, environmentally friendly technology.
In theory, state housing authorities could innovate like the Brisbane Housing Company, Housing First and BlueCHP. In practice, this rarely happens. Governments tend to be overly cautious in a sector that is crying out for flexibility. David Cant, who was chief executive of BHC for its first 15 years, says: "Not-for-profits can take risks. They can work quicker and smarter."
Community housing providers also “know their residents and know their geography”, Cant adds.
Australia has a pressing need for more social and affordable housing. More than half of all low-income tenants in the private market spend at least 30% of their disposable income on rent (and often much more than that). This can lead them to skimp on essentials like food, heating, transport, health care and schoolbooks. In the long term this sort of rental stress can damage physical and mental health, stunt educational attainment, and limit opportunity.
Australia can learn from UK housing providers
Cant thinks the best way to reduce rental stress is to build up the community housing sector, even though it currently provides less than 1% of all Australian dwellings. He is confident this can be done, based on 25 years working in Britain.
Before the Thatcher government sold off council houses in the 1980s, local government was the largest and most established provider of low-cost rental dwellings in Britain. Today, housing associations are more significant: 170 individual housing associations own 2.49 million homes – more than 10% of all housing in Britain. Local government now accounts for just 7%.
Oona Goldsworthy, chief executive of the Bristol-based not-for-profit housing association United Communities, says the sector matured relatively quickly. On a visit to Australia to she told me: "Housing associations in the United Kingdom grew out of an ideological and political push that the state is not necessarily the best provider of housing."
The view was that smaller organisations that were closer to the community could do a better job. Goldsworthy says British housing associations were able to borrow proactively, capturing a relatively small amount of public subsidy and matching it with lending from other sources. That’s exactly the sort of agility that gives community housing an edge over public-sector providers in Australia.
In the 2017 federal budget, the then treasurer, Scott Morrison, announced two measures designed to enable not-for-profit associations to build more housing: the National Housing Finance and Investment Corporation and an affordable housing bond aggregator. Together, they are designed to make it easier and cheaper for housing providers to borrow money by acting as a bridge between community-housing providers and superannuation funds.
While community organisations can and do borrow from banks, each loan must be separately negotiated. Super funds won’t deal one on one with individual providers in this way, so the NHFIC aims to offer them a standardised, rated investment product.
Since it has the backing of both Labor and the Greens, the NHFIC should survive any change of government. Yet the most important tool for repairing housing in Australia is still missing — a substantial amount of government money.
Cant, who was recently appointed to the NHFIC board, says poor people are generally reliable rent-payers because they know housing underpins the rest of their lives. Offered a deal along the lines of “be a good neighbour, pay your rent and you can stay here as long as you like”, they will grab it with both hands and enjoy a sense of pride and ownership that is indistinguishable from an owner-occupied home. Yet the rent they can afford to pay is not enough to cover the cost of building and maintaining community housing.
Cant says: "If you want to house people on lower incomes then you have to find a bit of a subsidy."
The holy grail of superannuation funds investing in affordable housing will not be achieved unless government tops up the rents paid by low-income households to generate an acceptable rate of return.
Piers Williamson is the chief executive of the Housing Finance Corporation — Britain’s equivalent to NHFIC — and has been advising the Australian government on setting up the NHFIC. He told the tenth National Housing Conference in Sydney that Britain’s affordable housing model was underpinned by £45 billion (A$75 billion) in grant money. “Grants are one of the things missing over here,” he said. “Subsidised housing requires a subsidy.”
Australia badly needs more rental accommodation that does not leave low-income tenants living in stress. The only proven way to increase the supply of social and affordable dwellings is to increase public investment in the sector — in other words, to spend more taxpayers’ dollars.
Why should wealthier Australians agree to subsidise the housing of poorer Australians through the tax system? For David Cant, social justice is reason enough. 
As a nation, we are sleepwalking into inequality. The settings we have got are dividing the community.
As housing inequality worsens it will touch more and more people. One day it could be an old friend, a sibling, a child, or a parent facing housing troubles. One day it could be you or me.
<hr>
This is an edited extract from <a href="https://www.textpublishing.com.au/books/no-place-like-home-repairing-australia-s-housing-crisis" target="_blank">No Place Like Home: Repairing Australia’s Housing Crisis</a>, published by Text on September 17.<img src="https://counter.theconversation.com/content/102840/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Peter Mares, Adjunct Fellow, Centre for Urban Transitions, Swinburne University of Technology
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/a-community-fix-for-the-affordable-housing-crisis-102840" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

A community fix for the affordable housing crisis: Peter Mares

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PowerHousing Australia, the peak body representing 28 of Australia’s largest Community Housing Providers (CHPs), has welcomed Treasurer Scott Morrison’s commitment to deliver a raft of measures that address housing right across the lifecycle spectrum.
"From aiding new supply, to creating more social and affordable housing, supporting first home buyers and seniors looking to downsize, this package has been a while coming but signals a step in the right direction for fixing Australia’s housing affordability challenges," PowerHousing CEO Nicholas Proud said.
Adopting the UK bond aggregator model will open streams of institutional funds to increase the supply of social and affordable housing.
He said community housing providers, were the industry’s quiet achievers, well-placed to leverage these funding flows to maximise new housing stock.
“PowerHousing Members have, over the past 10 years, grown into credible scale managers, operators and developers of new and existing social housing dwellings and we do this by quietly achieving the highest level of social outcomes.
“While public housing has decreased by 24,000 since 2007, community housing in Australia has over the same period grown from 33,526 to 72, 410 dwellings as per the recent Productivity Commission Report on Government Services.
The community housing sector has largely built scale on the basis of property transfers and the Federal National Rental Affordability Scheme.
“Providing funds through to the community housing sector will deliver more affordable homes more cost-effectively and assist those on low incomes through to first home ownership with more options, new housing and the potential for a suite of wrap around services to aid training, education, health and livable outcomes.
“We will have to wait until the Budget to know whether the Treasurer will secure the deep funding measures that are required to meet the gap between what those in affordable housing can provide and what it is vital to deliver in terms of dwellings into the long-term future.
This is an integral part of the CHP model and we are hopeful this gap will be addressed in the upcoming federal budget.
“There has been some solid work undertaken in the states with reviews of New South Wales, South Australia and Tasmania showing good progress in meeting National Agreement Targets such as facilitating 35 percent of public housing being operated by the Community Housing Sector.
“Ultimately access to new finance streams, as suggested here, allows for the best return on government investment with more affordable housing delivered at the lowest cost to taxpayers – a win-win situation.
“Today’s announcements are a strong Federal Government acknowledgement of our CHP Members’ commitment to being commercially astute and achieve economies of scale by working with government, tier one/innovative financial lenders and scale developers to design and construct affordable housing options.”
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PowerHousing Australia says Treasurer Morrison signals right first step towards affordability fix

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A one bedroom Croydon Park unit was Sydney's cheapest weekend auction sale, reflecting a sale with a gross 4.7% yield.
It was<a href="https://www.realestate.com.au/property-apartment-nsw-croydon+park-120780917" target="_blank"> 1/9 Queensbrough Road</a> which sold to an investor through Unique Property Real Estate agent Hellio Dias.
The size was 42 sqm.
The now renovated 1965 apartment last sold at $200,000 in 2009, reflecting 10% annual growth after renovation. It was last up for rent in early 2014 with a $345 weekly asking rental.
There was only one other sale at below $500,000 across Sydney.
There were three sales under $500,000 around the Charmhaven district.
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jchancellor-FAypfDUnLy

Sydney's cheapest sold for $383,000 at Croydon Park

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Sydney's cheapest weekend auction sale was a two bedroom unit located within minutes of Liverpool CBD and Liverpool Train Station.
"The unit is in desperate need of TLC and would be an ideal opportunity for a renovator or investor," the marketing indicated.
The second floor unit with single garage and balcony area fetched $344,000.
The unit had internal area of 58 sqm.
It was offered through <a href="https://www.realestateview.com.au/Real-Estate/12-13-speed-street-liverpool/Property-Details-buy-residential-9359164" target="_blank">Ray White agent Fabio Screpis</a>. It was among three weekend Liverpool sales under $400,000, and the only sales across Sydney at that price level.
The block's three most recent sales were $310,000, $300,000 and $290,000.
Sydney's most affordable property reported sold on the first weekend of spring was also a two-bedroom unit at 19/60-62 Speed Street, Liverpool sold for $355,000 through Prudential Liverpool.
Agent Simon Perri was quoting $320,000 plus.
Sales this year<a href="https://www.domain.com.au/sold/19-60-62-speed-street-liverpool-nsw-2170-2012172159" target="_blank"> in the block had hit $350,000</a>.
The likely rent by the investor buyer is estimated at between $300 and $320 a week.
There were four registered bidders, with it sold soon after auction.
Liverpool had three of the eight sub-$500,000 weekend sales on September 5.
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mick.cee-iDmgDDAmu8

Liverpool again Sydney's weekend cheapest

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Indigenous Business Australia (IBA) stressed the high number of Indigenous households in social housing and the importance of continuous work with governments in order to enable Aboriginal and Torres Strait Islander people to move into house ownership.
In their submission to the House of Representatives Standing Committee on Economics Inquiry into Home Ownership in Australia, IBA concluded that providing better conditions for home ownership for the Indigenous community is positive for the government as decreases the social help costs.
"For Aboriginal people at the margins of home affordability, having access to the First Home Owner Grant (FHOG) and stamp duty concessions has made the difference between being trapped as renters versus having home ownership. 
"The decisions by jurisdictions since 2011 to change their FHOG and stamp duty concession schemes, especially by reducing or abolishing the grant for the purchase of existing homes, has had a significant adverse impact on the ability of Indigenous Australians to obtain finance from commercial lenders and/or IBA. 
"IBA has observed that even in its traditional outer metropolitan and regional markets, our typical low to middle income customers are increasingly being squeezed out of the home buyer’s market. 
"In order that the gap in Indigenous home ownership does not increase it is critical that governments seek to augment existing market gap measures, such as the national Indigenous Home Ownership Program (IHOP) and state and territory government targeted programs. 
"The Indigenous Home Ownership Program (IHOP) provides Aboriginal and Torres Strait Islander people, who do not qualify for bank finance, with an affordable home loan. IHOP is targeted at first home buyers. 
"All jurisdictions should target application of the First Home Owners Grants and stamp duty relief to low to medium income Indigenous Australians regardless of whether they are purchasing an existing or new home. This will facilitate more Indigenous Australians being able to access home loans from mainstream financial institutions, in addition to those who may qualify for IBA assistance. 
"IBA recommends close collaboration between state and territory government programs and loan providers, including IBA, to strengthen the pathway between social housing rental and home ownership, building on the many initiatives already in place across jurisdictions. 
"The sale prices for government funded new houses and existing social housing stock (inclusive of land) offered for private sale in remote discrete Indigenous communities, should be set at realistic levels, so that there is reasonable security over a loan and there is a real chance of houses being bought and sold, enabling a housing market to evolve. 
The submission goal was to expose how barriers to achieving home ownership are greater or the Aboriginal and Torres Strait Islander segment. 
"In the 2011 census there were 209,000 Indigenous households, with 135,000 households not in home ownership. The statistics show that 65,000 new Indigenous households would need to move into home ownership to equal the wider Australian home ownership rate. 
"At the same time the Indigenous population is growing at a faster rate than the non-Indigenous population; expected to increase by 60 per cent from 2011 to 2031. The population is also relatively youthful, with 55.8 per cent less than 25 years of age compared to 31.9 per cent in the non-Indigenous population.
"The minimum annual income required to afford the median Australia house price is around $100,000 and much greater incomes would be required in many capital city markets.
"The average household annual income of successful applicants for IBA home loans in 2013- 14 was $75,000. The ability of IBA’s customers to afford a loan at these income levels is due to the extra concessional and other support provided by IBA and the purchasing of houses in more affordable markets (outer metropolitan and regional). 
"It is useful to categorise the affordability and broader challenges for Indigenous home ownership by geographical characteristics, such as remoteness, as this demonstrates the different strategies that are required to address the overall gap in Indigenous home ownership. 
"The table below shows the distribution of the Aboriginal and Torres Strait Islander population by remoteness classification, compared with the non-Indigenous population.
"Inner regional areas include the fringes around the major cities and larger regional towns/cities close to the capital cities or in the corridor between Melbourne and Sydney. 
"House prices are more moderate and in these areas there is also good access to employment opportunities. This is reflected in the high concentration of IBA home loans in inner regional areas (39% of the portfolio and 45 per cent of all new IBA loans). 
"Increasing Indigenous home ownership contributes to the broader picture of addressing Indigenous disadvantage. IBA’s own research, and research undertaken in the wider Australian community, have demonstrated that the broader economic and social benefits of owning a home are often as important as the financial benefits to the home owners.
"IBA’s research has found that owning a home and the responsibilities that this brings create: 
 A strong incentive for long term sustainable employment; 
 Higher wage growth for the main job-holder; and 
 Children of Indigenous home owners being more likely to have a job themselves and to aspire to own their own home.
"Of the 58 customers surveyed as part of the research (mainly in rural locations in Northern Australia), the household income of home owners increased on average by more than 50 per cent over the average period of six years since they had purchased their home. 
The survey revealed that 26 per cent of home owners intended to invest in other property, 9 per cent in starting a business and 9 per cent already derived income from their home (usually by basing a small business there). 
"The participation in Indigenous home ownership has positive long term cost benefits for government. The more economically independent Indigenous Australians can become, the less financial and other supports are required from government. For example, the cost savings from home ownership versus public housing costs have been estimated to be in the order of $167 million to $669 million per 100 households over a 20-year period.
"For Aboriginal people at the margins of home loan affordability, having access to FHOG and stamp duty concessions would make the difference between being trapped as renters of social housing versus having home ownership. Without this support fewer Indigenous Australians will be able to be assisted by IBA or other financiers."
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