Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

Joel Robinson

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368856]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

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

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

Residential Building

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<img src="https://counter.theconversation.edu.au/content/82320/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Australia’s state governments, as well as some ambitious local councils, community housing providers and forward-looking private developers, are finally taking note of the housing affordability crisis in our cities.
One proposed solution is to provide relief to cash-strapped households that cannot afford skyrocketing deposits by incentivising a new “build-to-rent” affordable housing sector.
Build to rent simply means developers build housing with the intent of retaining the building and renting it out to lower-income families at prices affordable for those families.
Australia has almost everything it needs to kick-start this sector. These efforts could not come soon enough: failing to tackle the situation will cost us billions of dollars. However, state and local efforts cannot reach their full potential unless the federal government steps in with something only it has: cash.
US model shows the way
The federal government has tried build-to-rent schemes before, with the National Rental Affordability Scheme. Built off a similar US model, the program rewarded investors in affordable housing with tax credits. 
The program’s US counterpart, known as “tax credit housing”, is so popular that a bipartisan group of senators are working to expand its funding by 50%. Australia’s super funds have even invested in US tax credit housing. 
However, Australia abandoned the National Rental Affordability Scheme in 2013. The government is instead creating a “bond aggregator” agency to support build-to-rent affordable housing. This agency will issue government-backed bonds to provide cheap loans to housing associations to build affordable housing.
<a href="https://www.propertyobserver.com.au/images/2017/08/31/file-20170829-10454-1xs49oh.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/31/file-20170829-10454-1xs49oh.jpg" alt="">
Mind the gap
But truly affordable rents for Australia’s low-income households cannot cover the combined cost of building and operating apartment buildings, even with cheap loans. US housing experts call this problem the “housing finance gap”, and many of their Australian counterparts have called on the federal government to help fund it.
To illustrate, below is a rough hypothetical example of a breakdown of tax credit housing funding sources, based on real numbers out of several Californian tax credit housing projects from between 2006 and 2016.
In Victoria, most of the pieces are being set up for the middle band of funding (in purple) as part of Plan Melbourne and other local government initiatives. Similar efforts are under way in New South Wales and Queensland. 
The federal government’s bond aggregator will be in place to maximise revenue of the project (plotted in green). Victoria is set to soon join NSW in providing a regulatory framework defining “affordable rents”. This will enable estimates to be made of how large this segment of funding can realistically be.
What Australia lacks is federal support to cover the remaining gap (shaded in orange). 
This is a rough sketch based on US numbers, which will not translate exactly. But so long as the project contains any truly affordable housing, as NSW defines it and as Victoria is looking to define it, projects will need more cash to close the gap.
Filling the gap while keeping things simple
Capital gains tax deductions and negative gearing cost the federal government roughly A$11 billion per year, even if the houses are vacant. It spends roughly half as much on public housing and rental assistance. 
A modest rebalancing of federal tax policy toward affordable housing could fill the funding gaps in build-to-rent housing. This would enable the bond aggregator to unlock hundreds of millions of dollars in matching private capital. 
The federal government should set a goal of shifting 20% of the tax dollars currently written off on negative gearing into a gap-financing fund managed by the bond aggregator. Unlike the National Affordable Housing Agreement schemes of the recent past, these funds should be dedicated exclusively to building new housing.
Alternatively, Treasury could issue cash vouchers to affordable developers to fill the gap. To keep this simple, the value of the voucher could be pro-rated, on a per affordable unit basis, using up-to-date construction cost data. 
The government could also offer this funding to private developers that are willing to set aside 30% of their units for low-income families, in exchange for gap financing of that 30% of units and the certainty the bond aggregator provides for the entire project. 
It can be done
Asking the federal government to cover around $90,000 per affordable unit may sound like a lot. But a decent apartment can last for 30 years before requiring substantial rehabilitation. That translates to just $60 per week. 
Although Australian construction costs are higher than in the US, even if we double it we are still spending only $120 per week. This amount is paltry compared to how much money the low-income family living in such an apartment will save if the apartment is located in inner Melbourne or Sydney. 
Add the long-term healthcare, social service and educational benefits and cost savings into the mix, and this is one smart investment.
<a href="https://theconversation.com/profiles/matthew-palm-399340" target="_blank">Matthew Palm</a> is Postdoctoral Research Fellow, Transforming Housing Research Network, University of Melbourne and author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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jchancellor-FAypfDUnLy

‘Build-to-rent’ could be the missing piece of the affordable housing puzzle

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Building activity will bottom out in 2019 with activity still at solid levels according to the winter edition of the HIA’s National Outlook Report.
Tim Reardon, HIA’s principal economist said the housing sector has already stepped back from its role driving the Australian economy and now is not the time for governments to hit the industry with punitive charges.
“Government interventions into the market so far include: state governments imposing punitive Stamp Duty charges on foreign investors, Federal charges for foreign investors, a new set of visa rules that could slow overseas migration, restricting lending to domestic investors and new regulations limiting interest only lending. 
“The Chinese government has also imposed restrictions on capital leaving the country which may have a significant impact on Australian home building. 
“Foreign investors have been attracted to the Australian housing market and they have been investing billions annually in the construction of new residential dwellings. 
“These investors have contributed to activity and employment in metropolitan areas building the supply of new housing stock and easing pressure on rental markets. 
“Governments of all jurisdictions should proceed with caution when imposing new punitive measures on this segment of the market. 
“Foreign capital is highly mobile and if it is forced from the market rapidly it could accelerate the downturn in the sector unnecessarily. 
“A number of state governments have recently hit foreign investors with punitive charges. 
“The Australian Government has also imposed additional regulations that will impact on investors in the sector. 
“The HIA is forecasting that building activity will decline modestly – from record highs - over a number of years, consistent with typical cyclical trends in the industry. Activity will bottom out in 2019 with activity still at solid levels. 
“There is a risk - if uncoordinated and poorly considered policies are introduced to curb foreign investment - that the decline in activity in the sector will be accelerated,” Mr Reardon concluded. 
The winter 2017 edition of the HIA’s National Outlook Report discusses the downturn in building activity beginning March 2016 and forecasts the length and depth of the cycle.
<a href="https://www.propertyobserver.com.au/images/2017/08/24/Screen%20Shot%202017-08-24%20at%2011.46.26%20AM.png" target="_blank"> Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/24/Screen%20Shot%202017-08-24%20at%2011.46.26%20AM.png" alt="">
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jonathanchancellor-7SQnKwU6yx

Building activity predicted to bottom out in 2019: HIA

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GUEST OBSERVER
If you gave ancient Romans iPhones, it would blow their minds… but if you took them to a modern construction site they would get it – for, thousands of years ago, they too built in concrete and brick as well as stone.
Today, about a third to half of the carbon emissions associated with a building over its lifecycle comes from creating the materials used to build it, but developers, builders and architects have been reluctant to change.
The solution doesn’t have to be invented. It already exists, in the form of modern engineered timbers. Unlike conventional materials, sustainably sourced engineered timber actually stores carbon. Engineered timbers are also cheaper, faster to build and can be pre-cut in factories, so there is less time lost to weather and safety risks are easier to control. The resulting buildings are sturdy, safe and well insulated.
In a world where housing affordability is an issue, where homelessness is a problem and where climate change is a real threat, I see engineered timbers in mid-rise apartments as being the future of building in urban areas.
Compared to tall towers, mid-rise building in cross laminated timber (CLT) – sometimes referred to as plywood on steroids – has a number of environmental advantages.
Tall buildings are highly inefficient. When you’ve got a tall tower, you’ve got to pump water up great heights, you need cooling as there’s no natural shade and they’re also often badly insulated and acoustically poor because developers cut costs by building in lightweight materials.
And a whole lot of tall towers together leads to poor urban spaces, which would be far better built at between seven and 12 storeys.
The problems are not just practical. We’re living in an age where many architects strive to achieve a design that is amazing, incredible and completely different – (translation: they draw a funny shape and give it to an engineer to work out how to build).
Sometimes it’s better to keep it simple, and make sure that the bedroom has a window and that you can get to the staircase and so on. Simplicity can have its own beauty, particularly when you’re building in timber. Architects also need to think about the construction material and incorporate this in the initial design stage.
In the UK, there are now about 500 buildings made of CLT, including civic spaces, schools and housing complexes. That number is set to explode.
There are currently three factories on the drawing board that will create modular CLT housing in the UK alone, and the largest of these is being designed to produce 5000 homes a year – at a cost of about 20 per cent cheaper than conventional materials.
I’ve also designed the world’s largest (by volume) CLT housing complex, Dalston Lane, in the UK, which is currently under construction. The ten-storey, 121-unit development is made entirely of CLT, from the external, party and core walls, through to the floors and stairs, weighing a fifth of a concrete building of this size, and reducing the number of deliveries during construction by 80 per cent.
Meanwhile, the record for tallest mass timber building – containing engineered timbers other than CLT – is constantly growing and currently sits at around 18 storeys in height.
In Australia, CLT has been successfully used, but is not as common as in the UK. That may change with a recent update in the construction code making it easier to build mid-rise CLT buildings – and with the imminent opening of Australia’s first CLT factory, meaning the material will no longer have to be import_ed.
There are a number of ways governments can help promote the use of timber, including:
Policies promoting a reduction in carbon emissions from buildings – regardless of building material
Timber first policies, which are used in many countries to ensure that timber should be considered as a building material in any public building project before design begins
Commissioning public buildings, including social housing, in engineered timbers to help increase industry knowledge and support local manufacture of CLT
Introduction of a carbon tax
However, in the UK, CLT has taken off without much in the way of government promotion because the business case for it is so compelling, and the environmental benefits a bonus.
Andrew Waugh is a founding director of Waugh Thistleton and can be contacted <a href="https://waughthistleton.com/" target="_blank">here</a>.
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Tall towers are not the answer to environmental challenges: Andrew Waugh

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Property markets in regional Australia had a mixed performance in the quarter ended September 2016, with the Illawarra region in NSW recording double-digit growth for both houses and units in value terms, while values fell in Townsville and Bunbury, according to CoreLogic’s latest regional market update.
According to Tim Lawless, senior researcher at CoreLogic, “several regional property markets within driving distance to major capital cities saw strong home price growth over the past quarter”.
Some of the report’s highlights:
<ul>
<li>Over the year to September 2016, the Illawarra region had the largest annual increase in values for both houses (14.3 percent) and units (11.5 percent).</li>
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<a href="https://www.propertyobserver.com.au/images/2017/01/11/CoreLogicReg-Illawarra.png" target="_blank">Click to enlarge</a>
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<li>In addition, home values rose across each of the three regions in NSW over the year ending September. 
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<li>For houses, Townsville in Queensland and Bunbury in WA were the only regional markets where values fell, down 2.2 percent and 0.4 percent respectively. Unit values were lower across the five regions, with the greatest falls also in Townsville (4.5 percent) and Bunbury (4.1 percent).</li>
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<li>Transaction activity rose on a year-on-year basis across the Richmond – Tweed region, while across all other regional markets analysed, sales activity was lower over the year.</li>
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In the Newcastle and Lake Macquarie and the Richmond- Tweed regions, home values rose by less, however, each property type saw gains of more than 6 per cent. When looking at transaction activity, the Richmond- Tweed region was the only region with an increase over the year (3 per cent), while sales activity fell in the other two regions. 
In Queensland, the Gold Coast and the Sunshine Coast were the strongest performing regions across the state, with both house and unit values rising. While Townsville, Wide Bay and Cairns showed moderate growth or falling values over the year. Transaction activity also fell, with sales volumes across all regions decreasing over the year, but transactions were well above the five-year average in each region with the exception of Townsville. 
Sales fell in Victoria’s Geelong and Latrobe-Gippsland regions too, down 1 per cent and 5 percent respectively. However, home values rose in both regions, Geelong recording the highest value growth, with house values increasing by 6.9 percent and unit values up 3.7 percent. 
Western Australia’s Bunbury region saw house values fall by 0.4 percent, while unit values fell by 4.1 percent. Sales volumes were down 11.5 percent over the year, and 10 percent below the five year average for the region. 
 
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Illawarra home values show double-digit growth amid mixed showing in regional Australia: CoreLogic 

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Quite remarkable that the Lower North Shore property markets are showing no signs of slowing as we edge closer to Christmas.
What is very clear is that all but guarantees another very strong March quarter for 2017, where beyond that would be anyone’s guess.
Whilst many expect that the Reserve Bank of Australia will cut the cash rate in the next six months we are now starting to witness some small Australian lenders increasing their rates which sends a loud signal that we may now be witnessing the end of the low rates. I made a phone call and was advised that ING have the lowest rate presently at 3.84 percent over five years fixed. ME head of home loans, Patrick Nolan, said: “The increases were based on increasing swap rates – up 40 basis points since the end of August – and increasing cost of deposit funding.”
Yes, there will be casualties, more particularly the interest only borrowers. I read a sage quote by a banker on Twitter who said: “If anyone is taking out a 20 – year mortgage and they don’t believe rates will rise, I’d ask them if they should be making this investment. It is an unrealistic proposition,” he said.
What needs to be factored in is that wages rose by 1.9 per cent during the September quarter, which was a record low according to the Australian Bureau of Statistics.
The NSW Government’s property development arm known as the Greater Sydney Commission released this week the first draft for the five – year housing targets by Local Government Area. A total of 23,250 new properties have been approved, with Mosman to build 300 new properties and North Sydney 3,000 and the Northern Beaches an additional 3,400.
<a href="/images/2016/11/28/Draft-Districts.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/28/Draft-Districts.png" alt="">
 
I really find this quite intriguing with present data suggesting that Sydney is now facing an imminent over – supply. NSW is in the process of building 55,000 new apartments with thousands more on the planning desks awaiting approval.
As these apartments are completed this will be a significant lever in reducing rents. When I look at Mosman I observed from CoreLogic that the rental median for a house in Mosman is $1,600.00 per week which is a 16.4 per cent increase over the last five years. The rental median for an apartment is $580.00 per week which is a 16.0 per cent increase over the last five years.
From an economic perspective, this is good news for NSW as it will drive employment as well as productivity. Property investors need to look closely at where their respective investment properties are within the Local Government Areas to ascertain what impact this unprecedented apartment building bonanza will have. One would have to say that in the short – term in the case of Mosman that apartment rents will be coming down. Even more so in North Sydney as they have a massive 3,000 apartments to be built over Mosman’s 300. For the fortunate ones if you own a residential development because it just doubled and trebled in value with the new high density legislation.
What needs to be acknowledged is this is what we call the new market and should not be confused with the established housing market as we are building apartments not houses. Although one point that springs to mind is that investors will be forced to renovate existing apartments if they are going to compete in the market on a rental dollar basis as they will be up against brand new apartments.
The building industry has never seen a better future although little consideration has been given to existing property owners who must contend with greater traffic congestion on our roads. So, if you thought our roads are congested now this week’s announcement will only make the situation worse.
Over time this will see more businesses moving to the suburbs, so a smart town planner must be marinating these development sites with a combination of commercial, retail and residential. Although we all know that this won’t happen as that would be the intelligent outcome to try and ease traffic congestion. Happy to bet now that these new developments will be strictly residential only although I will be more than happy to be wrong with this.
What is happening in Sydney will also see many leave Sydney for quieter and a more stable lifestyle. Whatever the outcome this will have plenty of Sydneyites re – considering their respective futures.
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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An insight into Sydney, now one big building site

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<img src="https://counter.theconversation.edu.au/content/69277/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Construction accounts for one dollar in seven of Australia’s total economic activity, making this week’s construction numbers a big deal.
Australian residential construction fell 3.1 percent on a seasonally adjusted basis to A$17.6 billion in the quarter to September 2016. Non-residential construction, which is about half the size of residential, fell 10.9 percent. Engineering construction was down, too, leaving the total construction figure down 4.9 percent to A$46.1 billion.
Construction is at its lowest level since 2010. This will surely factor in to upcoming RBA rate cut decisions, especially if they maintain their recent belief that prudential regulation has dampened concerns about property bubbles in Sydney and Melbourne.
In the US, the flash purchasing managers’ index rose to 53.5, well ahead of expectations. A reading above 50 indicates an expansion, so this was certainly good news for the US economy.
The US Federal Reserve minutes were keenly anticipated and pored over by market participants. Most reporting I saw focused on the following quotation:
“Most participants expressed a view that it could well become appropriate to raise the target range for the federal funds rate relatively soon, so long as incoming data provided some further evidence of continued progress toward the Committee’s objectives.” 
That was interpreted as the Fed being quite likely to raise the Fed funds rate by 25 basis points at the December meeting.
Well, perhaps. Elsewhere in the minutes we got some insight into the data the Fed is looking for to prove it is meeting its objectives. The minutes noted:
“Although real GDP growth in the third quarter was appreciably above the slow pace of the first half, it had been boosted in part by transitory factors … Growth of consumer spending had slowed from its brisk pace earlier in the year, residential investment had fallen again, and business fixed investment had remained soft … Participants noted that economic growth in many foreign economies remained subdued, and that inflation rates abroad generally were still quite low. Some participants observed that important international downside risks remained … Participants expressed uncertainty about how long the [labor force] participation rate could be expected to continue rising.”
Translation: the labour market, consumer spending and inflation data better come in pretty strong for the Fed to hike. They copped a lot of criticism for what subsequently looked like a premature hike last December, and they won’t want to make the same mistake again.
It is also clear that there is a real division on the committee, with members in one camp gunning for a hike right away, and those in the other expressing cautious optimism. Fed Chair Janet Yellen is in the latter, and that matters. Whatever happens in December, the next set of minutes will be fascinating reading to gain further insight into how the two camps are interacting, and if there is any shift in group membership.
Vital Signs typically focuses on Australia, the US and China, plus whatever country is causing global economic trouble that week. This week we introduce a new feature, G20 country focus, where we pick a G20 country not regularly featured. This week: France.
<h2>G20 country focus: France</h2>
The French economy, with GDP of US$2.5 trillion, is the ninth largest in the world (adjusting for purchasing power). GDP growth was a fairly anaemic 1.2% in 2015. Inflation in the year to October 2016 was a dangerously low 0.4%, with the economy risking a deflationary spiral.
Unemployment sits at 10.0%, though the youth unemployment rate is a shocking 23.9% (compared to 6.8% in Germany).
In terms of public finances, France is running a budget deficit of 3.6% of GDP, although it has been steadily bouncing back from a level of double that since the financial crisis. Government debt to GDP is 96.1%, which is slightly above the Euro area average of 90.7%.
What should we make of those figures? Since France is a big and important part of the Euro area, and that area is struggling, is is not surprising that France is too. Almost all those figures are concerning – especially because France does not issue its own currency – but not at panic station levels.
Youth unemployment, however, is. Although there are European countries with worse levels (like Spain), having nearly a quarter of young people out of work can lead the social compact to be gravely stressed. First, there is the phenomenon of “hysteresis”, where being unemployed makes it hard to become re-employed. And that is particularly problematic in a rather inflexible labour market like France’s. 
So even if the budget is slowly recovering, debt is manageable and growth is OK, having millions of disaffected youth roaming the streets is never a good idea.
Richard Holden is professor of economics and PLuS Alliance Fellow, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">here</a>.
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Construction slump points to cooling economy

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GUEST OBSERVER
Construction work is trending lower from historic highs, led lower by the mining investment downturn.
With the construction sector accounting for around 14 percent of the economy this is a material headwind.
Total construction work fell by 4.9 percent in Q3, exceeding expectations (Westpac f/c -1.5 percent and market median -1.6 percent).
Over the past year, construction activity is down by 11.1 percent.
The September quarter outcome will subtract in excess of 0.5ppts from quarterly GDP.
This outcome adds to evidence that the economy hit a soft spot in the middle of 2016, as suggested by soggy labour market conditions.
We expect the economy to emerge from this weakness, with conditions to improve in 2017, supported by recent RBA rate cuts and a spike in commodity prices.
Downside surprises were in housing and public works, both of which are likely to improve in coming quarters given the recent strength of approvals and commencements.
Housing approvals rebounded to hit record highs in 2016, supported by lower rates, and state governments are committing to additional infrastructure projects – particularly for transport.
The private non-residential building cycle has turned down, reflecting earlier weakness in approvals. The drop in activity in the quarter was sharper than anticipated, -12.9 percent vs f/c -1.4 percent.
More recently, non-residential building approvals have begun to lift from their lows, pointing to an emerging stabilisation and potential improvement in 2017.
The decline in private infrastructure was largely as anticipated, -6.6 percent vs f/c -8 percent.
By state, construction work fell across the mainland in Q3 – including falls of 2.1 percent in NSW and 6.9% in Victoria.
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Total construction                –4.9 percent Private construction            –6.0 percent Public construction             –0.2 percent  
Private - by segment
Infrastructure                        –6.6 percent Dwelling, new                      –3.2 percent Dwelling renovations          –0.7 percent Non-res. building                 –12.9 percent  
Public - by segment
Infrastructure                        +1.4 percent Building                                 –5.5 percent
Andrew Hanlan is senior economist for Westpac and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/andrew-hanlan/3/222/430" target="_blank">here</a>. 
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Total construction work fell by 4.9 percent in Q3: Westpac's Andrew Hanlan

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Property developing can throw many different challenges at you and one thing I have learnt after managing over one hundred developments is that there is always a solution to a problem.
The trick is to understand what possible issues could arise and preparing yourself for them. 
You see, the development process is not an exact science because every development site is different.  So the construction costs will rarely if ever, be the same from project to project, even if you are using the same plans.
Depending on the fall of the site, some will need more retaining than others, some may need more concrete due to the length of the site and driveways and then there are the sites where you find unexpected items lurking below the surface. We once uncovered an old asbestos shed that had been buried many years ago. This did not come up on our geo technical report and had to be removed as contaminated rather than normal waste. 
If you develop in the same area, you can work out fairly quickly, after a few developments, what is likely to happen. With experience, you will be able to look at a site and determine how much retaining may be required. You can also base your construction estimates on the soil type as an example. If developing within the same land estate, it’s likely to contain similar soil types. The engineer uses the soil and site classifications for the slab design. Once the site preparations and slabs are laid, most of the unknown or little surprises are behind you.
But before construction commences, there is a process to follow. 
When pricing a development and running feasibilities, it is important to understand that your building estimate is an organic creature. By this I mean the building estimate you start with will nearly always be different to the one you end with.  It will evolve throughout the process as you obtain more and more details.  Once you have all the fine details, the building estimate can be finalised to the fixed price builder’s tender. 
When designing our villa plans, we follow this process:
1  Concept Planning – this show the number and size of villas we can get on the land. There is not too much detail on the plans at this stage.
We run the numbers to see if the project is viable.
1  Development Application (DA) plans – these are started after we’ve secured the land and the plans give enough information to satisfy council’s requirements.
2  Construction Certificate (CC) plans – more detail is added to the plans including the engineer’s drainage and slab design.
The starting point for our build estimate will be based on similar projects that we have recently completed and an allowance for the different development site.
This progresses to an estimate based on the Concept Plan.  Still a very ‘loose’ estimate as there is usually not enough detail on the Concept Plan for the builder to have all information needed.  The build estimate we have at this stage will tell us whether we are tracking within budget.  If not, we can make the necessary changes required, perhaps reducing the size of the villas working with both our builder and architect to design the right dwellings for our project to be successful.
Once the Concept Plan is approved and the site secured the architect will proceed to full DA plans.  It is here that much more detail is added and we will have our builder price the DA plans.  Again, this does not give us a final build cost but we will be getting closer to the expected outcome.  Once approved by our client, the DA plans are finalised and the DA is prepared.
During the DA process, council may request some changes to the plans, so it is important to understand we are still ‘evolving’ at this stage. We also need to review the Conditions of the DA Consent before we have more detail to finalise the build costs.
Once council have approved the DA, we will start to prepare the CC plans.  Engineers will be briefed and a drainage and engineered slab design or footings for the foundations will be produced. More detail is added to the CC plans, finalising levels and double checking schedules. 
Before we lodge the CC plans with our private certifier we will have our builder issue a third costing. It is this costing that will give us the final build costs...well almost.  We still need to have the CC approved and ensure there are no further revisions to the plans required.  
After we have the CC stamped plans, our builder will issue their final tender and building contract. This will be a fixed price contract; however, there may still be a few items that will be ‘provisional’. They are usually some site works, removal of fill and retaining walls.  The builder may mark these items as provisional as they won’t know until works proceed exactly what the cost is. For instance, if rock is hit during the site cut, this will increase the site costs. If the site cut differs slightly to the plans, this may impact on the height of retaining walls.  So these ‘provisional’ items will be charged at actual cost whether it is lower or higher. We do often enjoy credits on these items when the allowance is not required.   
So you can see how the build estimate must evolve through the development process and until your development is completed, you really won’t know the exact cost.  It’s important you allow a contingency amount for variations that may crop up along the way. 
As a developer, you will embark on a challenging journey from start to finish and the path you choose can be simplified with the help of a project manager to guide you along the way.  Always take the time to have full builder’s estimates done at each stage to avoid any nasty surprises. 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a><a href="https://www.propertybloom.com.au/">.</a>
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Determining construction costs from the outset of your development: Jo Chivers

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Figures from the ABS show a healthy rise in home lending finance during June, according to Shane Garrett, senior economist for the Housing Industry Association.
In June 2016, the number of loans to owner-occupiers for dwelling construction rose by 2.1 percent, seasonally adjusted, while loans for new homes grew 2.7 percent. 
New home lending volumes went up by 2.3 percent over the month and 6.3 percent higher than June 2015.
 Shane Garrett, HIA senior economist said the RBA cut its interest rate at the beginning of May so June’s housing finance results are the first month’s data to fully capture the effect of cheaper mortgage costs.
“Encouragingly, prospective homebuyers seem to have taken advantage of the lower interest rate environment as evidenced by today’s positive results for new home lending,” he said. 
“June was also dominated by the close federal election campaign which was the source of some uncertainty across the economy. Today’s data indicate that the benefits of lower interest rates trumped any reluctance by buyers to enter the market during the tight election race. It’s therefore likely that last week’s interest rate cut will help bolster activity on the new home building side."
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Loans to owner occupiers constructing or purchasing new homes increased in a number of states over the year to June 2016 when compared to the same period last year. The strongest growth was in Victoria (19.1 percent) New South Wales (10.8 percent) and Queensland (4.3 percent). Falls were recorded in Western Australian (20.7 percent), and the Northern Territory (17.7 percent) and Tasmania (3.5 percent). 
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June increase for new home lending: HIA

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New multi-residential building is set to plummet by 50 percent by 2020, says research group BIS Shrapnel who forecast "construction fatigue."
The current residential building boom will run out of steam, BIS Shrapnel's Building in Australia 2016-2031 report says, as most markets except Sydney will experience an oversupply of stock as population growth slows.
BIS Shrapnel estimates the fall in net overseas migration to contribute to the decline.
Dwelling starts reached an all-time national high of 220,100 in 2015-16 which were mostly apartments.
This strong construction activity will decline by 16 percent nationally in 2016-17.
Melbourne's “turbocharged” apartment market will see the biggest fall, BIS Shrapnel associate ­director Dr Kim Hawtrey said.
“Multi-residential building in Victoria has been absolutely turbocharged and has gone through the roof."
Dr Hawtrey said more than 30,000 apartments and units began construction in Victoria during the past financial year — about three times the normal annual rate before the Global Financial Crisis.
He said the number of new apartments and units in the state would drop below 30,000 this financial year to closer to the mid-20,000s.
Investors would no longer fuel the apartment-building boom as they had in previous years, the report said.
"With investors facing finance restrictions and first homebuyers sidelined, it will be up to upgraders/downsizers to help cushion the decline in activity," BIS Shrapnel associate director Kim Hawtrey said.
"Low interest rates have unlocked significant pent-up demand and underpinned the current boom in activity, but with population growth slowing and a strong backlog of dwellings due for completion, new supply will outpace demand," Dr Hawtrey said. 
"This will see the national deficiency of dwellings gradually eroded and most key markets will begin to display signs of fatigue."
 
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