Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

Western Australia

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Advertising industry veteran Harold Mitchell has sold his cattle station empire in Australia's Kimberley region in Western Australia for more than $70 million, at a time when pastoral property values have been rising sharply. 
The sale of Yougawalla Pastoral Company includes APN Outdoor chairman Doug Flynn's stake as well. A Chinese businessman is understood to have bought the cattle stations, the Australian Financial Review reported.
Yougawalla Pastoral Company includes three main cattle stations spanning more than 850,000 hectares with about 45,000 head of cattle.
Mitchell declined to comment on the deal to the AFR, but the paper said he has already received approval from the Foreign Investment Review Board. 
The Pastoral Lands Board of Western Australia is still to approve the transaction.
KPMG and ANZ had been appointed in 2015 by Mitchell to sell the pastoral station.
It was reported earlier that Mitchell intended to sell up to 49 percent of his cattle station empire in Western Australia.
Yougawalla Pastoral also leases the 161,000-hectare Louisa Downs, the 141,000 ha Bohemia Downs, the 80,000 ha Carranya Station and the 182,000 ha Lamboo Station, but none of these properties are part of the deal. 
The timing to sell couldn’t be better with pastoral property values rising sharply in the last few years. 
The latest index shows values have risen 9.3 per cent in the last year. Major cattle station operator Australian Agricultural Company reported a 7 per cent rise in the value of its vast rural property portfolio in full-year results released on Wednesday.
Mitchell started buying during the financial crisis, picking up the main Yougawalla station for about $10 million. In 2011, he snapped up the 274,000 ha Bulka Station adjoining Yougawalla for about $9 million.
Then in 2013 when the live export cattle trade had been smashed and the drought and prices were squeezing the cattle industry, Mitchell shelled out $4.3 mil­­lion for another massive cattle station – the 177,100ha Mar­garet River Station with 6,000 head of cattle.
Mitchell, who played a vital role in negotiations with Indonesia on the live export trade, decided to sell after splitting with his wife of 50 years.
 
 
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jonathanchancellor-7SQnKwU6yx

Harold Mitchell sells WA cattle station for $70 million

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ANZ reported an interim cash profit of $3.4 billion for the half, an improvement of 23 percent - the prior year result having been hit by write-downs - but missing market expectations of a $3.5 billion result. 
The group's net interest margin was only impacted to a very small extent by funding costs, but did decline nevertheless.
ANZ announced rate hikes on investor and owner-occupier loans last week, with steep increases of up to 40bps on interest-only products (but some cuts being applied to principal and interest mortgages).
Over the next year we can expect to see lenders forcing borrowers away from interest-only loans as I looked at in more detail here. 
This isn't the place for a detailed review of the ANZ interim financials, but below I'll take a quick look at the home loan portfolio. 
ANZ's 90+ day home loan delinquencies have been relatively contained to date in the Australia division, though they have tracking at somewhat higher levels than seen in recent years. 
<a href="https://www.propertyobserver.com.au/images/2017/05/04/ANZ1.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/2017/05/04/ANZ1.jpg" alt="">
A closer look at the portfolio performance for the Australia division reveals the concerning rate of deterioration in home loans that are 90 days past due in Western Australia.
Since 2013 home loans that are 90 days past due in the state have risen sharply from as close to zero as you will see across a loan book towards 1.4 per cent of home loans. 
<a href="https://www.propertyobserver.com.au/images/2017/05/04/ANZ2.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/2017/05/04/ANZ2.jpg" alt="">
Queensland has typically had a higher rate of delinquency than elsewhere since severe flooding in the state in 2010-11. 
Now more than half a decade on the flood-related delinquencies have mostly either been impaired or resolved, but loans that are 90 days past due remain higher than elsewhere in Australia due to the very poor economic conditions in many parts of regional Queensland.
Vacancy rates are also elevated in Perth and many parts of regional Western Australia and Queensland, a knock-on impact from the end of the resources construction boom.
The ANZ share price took a knock from yesterday's results, dropping by 2.12 percent by the close to $32.25. 
Genworth Mortgage Insurance (ASX: GMA) dropped 4.19 percent to $3.20 yesterday, having been down by 7 percent in early trade. 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
 
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pwargent-M4siyDbqQY

WA home loan portfolio deteriorating: Pete Wargent 

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<img src="https://counter.theconversation.edu.au/content/76944/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The government shouldn't cave to WA's calls for a change to the way GST is divvied out. The current system has served Australia well.
Treasurer Scott Morrison has acceded to pressure from his Western Australian colleagues in announcing another review of the way GST is divided up among the states and territories. But the current system shouldn’t be tossed aside just because the WA government was unable to control its spending.
Australia has long gone much further than other federations in seeking to “equalise” the way state and territory governments provide public services to their citizens. That’s one of the principal reasons why the disparity in living standards between Tasmania (Australia’s poorest state) and WA (our richest), is a lot less than that between, say, Mississippi and Massachusetts in the United States or even Mecklenburg-Vorpommern and Bavaria in Germany.
The Grants Commission was established in 1933, this is the body that decides how much GST revenue the states get in our current system. Since its establishment right up until the year 2000, WA has been the main beneficiary of “horizontal fiscal equalisation”(HFE).
That’s the principle that GST is assigned by. It assumes each state and territory should be making an equal effort to raise revenue from its own sources and by being equally efficient in its spending, to provide the same range and quality of public services as every other state or territory.
However, since the early 2000s, WA has become Australia’s richest state. This is the result not of any particular effort on the part of successive WA state governments, but rather of China’s almost insatiable appetite for the iron ore with which WA has been uncommonly endowed.
Over the five years to 2014-15, WA’s per capita gross product (what it produced) averaged almost 50 percent above that of Australia as a whole. This is a margin without precedent in Australia’s history.
This enabled WA to raise far more revenue per head of population than it, or any other part of Australia, had been able to in the past. This is also why in recent years WA’s share of the revenue from the GST has fallen to such a low level, relative to its share of Australia’s population.
Between 2005-06 and 2015-16, WA’s share of the revenue from the GST fell by about A$2 billion, from A$3.8 billion to A$1.8 billion. But its revenue from mineral royalties rose by almost A$3 billion over the same period, from A$1.2 billion to A$4.1 billion.
Despite the sharp decline in its share of GST revenues, the WA government’s total revenue per head of population in 2015-16 was just A$67 (or 0.7 percent) below the average for all states and territories. By contrast, by 2015-16 the WA government was spending over A$1,000 (or 10.5 percent) more per head of population on “operating expenses”, than the average of all states and territories.
WA’s present fiscal woes are the result not of a flawed system of distributing revenue from the GST among the states and territories, but rather of its inability to control its own spending.
Although an equal per capita distribution of GST revenues has become commonly used as a benchmark by government for assessing redistribution, it’s never been generally accepted that GST revenues should be distributed on an equal per capita basis.
Neither the federal government, nor the states and territories, allocate their spending programs on an equal per capita basis. Nor do they collect revenue in that way. There is no reason why an equal per capita distribution of GST revenues should be regarded as some kind of desirable norm.
As you can see in the chart below, if you did allocate GST in equal per capita, according to my calculations Queensland, the North Territory, South Australia and Tasmania would lose millions. But it would give Victoria, NSW and WA more of the GST revenue.
<a href="https://www.propertyobserver.com.au/images/2017/05/04/4.05%20graph.jpg" target="_blank" style="font-size: 12.16px;">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/2017/05/04/4.05%20graph.jpg" width="600" height="223">
It would be akin to reducing the top rate of personal income tax, paid by those earning more than $180,000 per annum and raising the bottom rate, paid by those earning less than $37,000 per annum, to the same figure.
Allocating GST per capita like this is not based on need or any policy and is quite abitrary.
The questions in the terms of reference, that the Treasurer has given to the Productivity Commission, were answered almost five years ago by a similar inquiry. This was conducted by former NSW Premier Nick Greiner and former Victorian Premier John Brumby, together with Adelaide businessman Bruce Carter.
Even though these state premiers had voiced the same concerns as the current government about the way GST is distributed, their inquiry recommended against any radical changes. They found many of concerns about the current system turned out to be overstated.
And, contrary to the Treasurer’s insinuation that “the current approach of horizontal fiscal equalisation creates disincentives for reform”, the previous inquiry concluded there was not enough evidence of efficiency losses in the economy.
I doubt that the Productivity Commission will find differently. There is room, to be sure, to make the Grants Commission’s procedures less complex and more transparent. But the principle which has underpinned the Grants Commission’s recommendations for more than 80 years has served Australia well, and shouldn’t be tossed aside merely to salve the self-inflicted wounds of Australia’s richest state.
 
Saul Eslake is vice-chancellor’s Fellow, University of Tasmania and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/saul-eslake-665" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

WA’s economic mismanagement is not a reason to review how the GST is carved up: Saul Eslake

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Business confidence in the WA property sector has climbed to its highest level since 2014, according to the ANZ/Property Council Survey for the June quarter 2017, which revealed a 20-percentage point increase in the confidence index.
“These results point to an economic turnaround in WA led by proposed investments by non-mining businesses,” Property Council WA Executive Director Lino Iacomella said.
“The improvement in industry confidence is due to expectations that improved national economic growth will flow to WA, and a lift in forward work schedules and staffing numbers. 
A raft of major projects is proposed in WA, including shopping centre expansions, hotels and new infrastructure such as the Forrestfield-Airport Link.
The retail and retirement living sectors continue to lead the way with continued growth expectations.
Other sectors in the property industry are continuing to show declining growth expectations, however the outlook has improved with house price growth expectations close to stabilising. 
The property industry is looking forward to working with the new McGowan state Government to progress economic reforms, fast-track infrastructure planning and cut red-tape to ensure the major construction projects proposed for WA get off the ground,” Mr Iacomella said.
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j.ballantyne1990-6AQqhLzZaK

Confidence returning to WA property industry

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Outside of Perth there were 8,007 residential house and agricultural sales over the year to November 2016, only 3 more sales than the 12 months to November 2015, according to Landmark Harcourts’ latest Benchmark Report (<a href="https://content.landmarkharcourts.com.au/Content/Benchmark-Property-Data-Report" target="_blank">bit.ly/LHBenchmark</a>).
While the number of sales remains virtually unchanged over the year; the value of these sales fell -1.4% to $3.7 billion over the year.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.21%20pm.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/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.21%20pm.jpg" alt="">
In terms of the number of sales, 69.7% of all sales were residential properties, while in value terms, residential properties accounted for 55.2% of the total value of sales across regional Western Australia.
Compared to one year ago there were -5.5% fewer agricultural sales across regional Western Australia over the year to November 2016.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.36%20pm.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/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.36%20pm.jpg" alt="">
Of the 2,427 sales, the majority (65.7%) were on land sizes of less than 40 hectares, while 16.4% of transactions were on lots between 40 and 100 hectares.
15.3% were on between 100 and 1,000 hectares and 2.6% of sales were on land sizes larger than 1,000 hectares.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.54%20pm.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/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.54%20pm.jpg" alt="">
Looking at the value of sales that transacted over the year to November 2016, agricultural sales accounted for $1.7 billion worth of sales, an increase of 1.1% compared to the same time 12 months ago.
Of the total value of sales, 43.8% were for properties on less than 40 hectares, 18.6% were for properties on between 40 and 100 hectares.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.38.05%20pm.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/2017/03/24/Screen%20Shot%202017-03-24%20at%202.38.05%20pm.jpg" alt="">
31.1 percent were for properties ranging between 100 and 1,000 hectares and 6.5 percent were for properties larger than 1,000 hectares.
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Western Australia's wheat belt rural sales market remains active

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The residential property market in the south-west of WA has weakened with reduced demand and values, however the market is quite mixed with some particularly sought after properties holding their values, according to a recent update from HTW.
The valuation firm says the volume of sales generally remains reasonable with adequate stock movement in most localities.
However, the top end of the market continues to be soft with an overall weak demand, the firms says.
“The exception is that there does seem to be reasonable demand for well-located properties that present to a high standard,” the report says.
The rural residential market is also continuing to slow with the majority of sales being below $1 million.
This market is experiencing extended selling periods and rents have fallen but are starting to stabilise while building activity has weakened.
“The slowdown in the state resource sector, continued weakness in the Perth property market and general uncertainty of the WA economy has promoted a downturn throughout the south-west WA real estate market,” HTW says.
“The extent of the downturn ranges from mild to moderate depending on the location and property type.
“As always is it difficult to predict future market conditions however we expect the year ahead could be more of the same or that the market may bottom out and stabilise.”
There are no significant drivers to suggest values will increase and there is limited demand from international buyers to spur the market in the region, the firm says.
It suggests the WA state government’s decision to increase the first home owner’s grant from $10,000 to $15,000 for 2017 could have a positive impact on the market.
“This is viewed as maybe having a stabilising effect but unfortunately the increase is unlikely to be high enough to overcome the negative factors influencing property values, for example the state’s high unemployment.
“We would recommend caution as some market segments are in decline and it remains unclear if the market has bottomed out.”
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-wa-bunbury-124819870" target="_blank">1/16 Wellington Street</a>, Bubury (above) has been listed from $350,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-wa-carey+park-124389150" target="_blank">95 Wisbey Street</a>, Carey Park (below) has been listed for over $265,000.
<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/2017/02/27/95%20Wisbey%20Street.jpg" alt="">
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South-west WA property market conditions remain soft: HTW

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A real estate salesman in Western Australia has been banned for 15 years from the industry after being found guilty of fraudulent property deals which netted a profit of $5.4 million.
The State Administrative Tribunal (SAT) found Paul Anthony King guilty of 13 breaches of the code of conduct while working as a sales representative for his father’s real estate agency Colin King Real Estate, based in York.
It was operated by The King and I Pty Ltd.
Both Colin and Paul King were ordered to jointly pay $39,000 in costs incurred by Consumer Protection to prosecute them. The SAT did not have jurisdiction to impose a penalty against Colin King and The King and I Pty Ltd as their licences were not renewed by Consumer Protection in August 2014.
The sale of five lots of land occurred between 2008 and 2010 with Colin and Paul King acting as selling agents for three of them and introducing the ultimate buyers in each sale. The lots were first sold to an intermediary company controlled by another of Colin’s sons Michael King who was not a licensed real estate agent or sales representative.
The land lots were then immediately on-sold to Malaysian-based investors at substantially higher prices resulting in a $5.4 million profit that directly benefited Michael King. The original owners and the Malaysian-based investors were not aware of the on-sale arrangements.
The SAT found that the deal resulted in a significant loss to the original owners and Paul King’s ‘extremely dishonest and deceitful’ conduct was at the upper end of the range of seriousness. He had placed his own interests and the interests of related parties ahead of his principal by concealing from the sellers the existence of another buyer willing to pay a premium for the land. The tribunal said his misleading conduct was a fundamental breach of his duty.
The SAT added that Paul King was deliberately untruthful and his evidence was not credible as he sought to minimise his involvement in the deal to conceal his conduct from the tribunal, described as ‘calculated and sustained dishonesty’.
Acting commissioner for Consumer Protection David Hillyard said the long-term ban reflected the serious nature of the deceptive conduct.
“Paul King failed to act in the best interests of the sellers and the purchaser who became unknowingly involved in a fabricated on-sale scheme which was designed to ensure an intermediary company owned by his brother Michael made massive profits from the sales,” Hillyard said.
“The now proven involvement of his father Colin King in such a web of deceit has vindicated our action in August 2014 not to renew his licence, a decision upheld by the SAT last year.
“The fundamental obligations of the real estate industry’s codes of conduct require agents and sales representatives to act honestly, fairly and in the best interests of their clients at all times and this SAT order shows that there are serious consequences for anyone who breaches those obligations.”
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WA real estate agent gets 15-year-ban for land deal scam

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Mirvac’s flagship West Australian office tower, Allendale Square, has secured a range of retail tenants as it launches a new name for the precinct, Underground at Allendale Square.
The new tenants include 18 food, beverage and service businesses including Perth’s iconic Mary Street Bakery, Mo Espresso, Three Grains and Timeless Beauty.
Old favourites Lalla Rookh Bar and Eating House, Bellini Barber, Lunches Down Under and Zensaki are also available in the 1,600 sqm precinct.
The new name ‘Underground at Allendale Square’ was chosen to reflect the vision for the precinct, which is currently undergoing refurbishment, to create a vibrant retail hub for people to gather and connect. The refurbishment is expected to be complete in May.
<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/2017/02/01/Allendale_B40.jpg" alt="">
The precinct will feature improved access, seating and wifi. 
Mary Street Bakery is looking forward to opening their second city store at Allendale Square.
Co-owner of Mary Street Bakery, Michael Forde says, “The building’s great location and beautiful design caught our imagination. We already have a store at the western end of the city and thought there was a need for another store at the eastern end."
 
<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/2017/02/01/Allendale_D41.jpg" alt="">
The building will have a glass atrium and will open out onto the street.
<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/2017/02/01/Allendale_F19.jpg" alt="">
Mirvac’s group executive of Office MPT, Andrew Butler said, “With the Allendale Square office tower now over 95 per cent leased, Underground is set to become a thriving modern hub for workers to meet, dine and relax."
 
<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/2017/02/01/I01_34.jpg" alt="">
Mo Espresso general manager, Zac Barrett said, “The range of retailers that are going into Allendale Square and the vibrant vision for the development is what got us on board."
 
<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/2017/02/01/I02_Arcade_02.jpg" alt="">
The office tower at Allendale Square is undergoing an extensive refurbishment that includes a re-modeled lobby, brand new end of trip facilities, upgraded lifts and the conversion of level 31 to office space.
The precinct will be brought to life with a public artwork by artist Anne Neil and an architecturally striking glass canopy framing the entrance to the office tower, designed by Christou Design Group.
 
<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/2017/02/01/I03_Arcade_02.jpg" alt="">
Allendale Square is close to shops, bus stops and the Esplanade train station.
The leasing agents for retail are Jim Tsagalis and James Hopkins from Lease Equity, while office leasing is being handled by Warren Wright of JLL and Mark Clapham of Sheffield Property.
<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/2017/02/01/I04_Arcade_02.jpg" alt="">
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New tenants for Perth's Allendale Square retail precinct

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GUEST OBSERVER
A number of recently released statistics suggest that the Perth residential property market is primed for investment in 2017.
Key indicators offer reason to believe that Perth is moving through the bottom of its current residential property cycle, and investors may be able to capture the full benefits of the next upswing by acting in the coming months.
Some positive signs in the market are contributing to an overall shift in sentiment amongst buyers, with many feeling optimistic about 2017.
Smart investors know that now is a great time to buy in Perth, but as we’ve always said, selecting the right property type in the right area is also very important, and at the moment there are some very attractive opportunities out there for savvy investors.
Stronger numbers
The latest data released by the Real Estate Institute of Western Australia (REIWA) shows that Perth’s preliminary median house price for the December 2016 quarter did not change at $520,000, which is a positive sign as historically once all sales have settled, this preliminary median generally increases, so Perth could in fact record an increase in price over the quarter.
Sales activity is increasing with the preliminary dwelling sales for the December quarter 2016 five per cent higher than the same time in 2015. For the week ending 31st of January 2017, property listings were down about 2 percent year on year, indicating that some of the excess supply in the market is starting to be absorbed.
Furthermore, CoreLogic’s recently released RP Data report revealed that Perth dwelling prices improved by .2 percent in January contributing to a 2.1 percent rise over the past three months, adding to conjecture about the beginning of a recovery after a long period of negative growth.
Great time to buy right
Buying strategy is just as important as timing in order to maximise the benefits of any approaching upswing. Investors who examine potential demographic, social, infrastructure and planning changes will have the best chance in purchasing a property that will outperform the market.
For example, in 2007, our research team identified the City of Belmont as an investment grade suburb with strong short and long term growth drivers exposing many of our clients to the rapid price growth that occurred in this area.
The report explores some of the research and resulting strategies the company employed to capitalise on investments in Belmont.
With stock of listings still comparatively high, interest rates at record lows and affordability amongst the best in the nation, the current market presents excellent buying conditions in 2017:
Investors who can identify a good long term growth property and negotiate a favourable deal should purchase now to realise significant price growth in the future.
Damian Collins is the founder and managing director of Momentum Wealth and can be contacted <a href="https://www.momentumwealth.com.au/damian-collins/" target="_blank">here</a>.
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Perth primed for smart investors: Damian Collins

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Six out of the 12 locations across regional WA experienced positive median house price growth in the December quarter 2016.
REIWA President Hayden Groves dubbed it an optimistic sign for the regions.
Preliminary Landgate data shows the median growth up 1.4 percent over the quarter to $355,000.
Although sales activity in Northam was subdued in the December quarter, it was the best performing regional centre for median house price growth, with its quarterly change in the annual median increasing 18.6 percent in the three months to December 2016.
Other top performers for median house price growth were Busselton Urban Area and Esperance Urban Area, which experienced lifts of 12.1 and 7.1 percent respectively, Hayden Groves said. 
The Broome and Port Hedland regional centres had the most notable softening of median house price in the December quarter. 
 
<table style="width: 438px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="142">
Regional centre
</td>
<td valign="top" width="154">
Annual median house price (Year to December 2016)
</td>
<td valign="top" width="142">
Quarterly change in the annual median house price
</td>
</tr>
<tr>
<td valign="top" width="142">
Albany Urban Area
</td>
<td valign="top" width="154">
$380,000
</td>
<td valign="top" width="142">
3.8%
</td>
</tr>
<tr>
<td valign="top" width="142">
Broome Urban Area
</td>
<td valign="top" width="154">
$475,000
</td>
<td valign="top" width="142">
-12.8%
</td>
</tr>
<tr>
<td valign="top" width="142">
Bunbury Greater
</td>
<td valign="top" width="154">
$380,000
</td>
<td valign="top" width="142">
4.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Busselton Urban Area
</td>
<td valign="top" width="154">
$480,000
</td>
<td valign="top" width="142">
12.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Esperance Urban Area
</td>
<td valign="top" width="154">
$337,500
</td>
<td valign="top" width="142">
7.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Geraldton/Greenough
</td>
<td valign="top" width="154">
$312,500
</td>
<td valign="top" width="142">
-4.7%
</td>
</tr>
<tr>
<td valign="top" width="142">
Kalgoorlie/Boulder
</td>
<td valign="top" width="154">
$334,750
</td>
<td valign="top" width="142">
1.4%
</td>
</tr>
<tr>
<td valign="top" width="142">
Karratha Urban Area
</td>
<td valign="top" width="154">
$265,000
</td>
<td valign="top" width="142">
-1.9%
</td>
</tr>
<tr>
<td valign="top" width="142">
Mandurah/Murray
</td>
<td valign="top" width="154">
$372,000
</td>
<td valign="top" width="142">
-2.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Northam
</td>
<td valign="top" width="154">
$255,000
</td>
<td valign="top" width="142">
18.6%
</td>
</tr>
<tr>
<td valign="top" width="142">
Port Hedland
</td>
<td valign="top" width="154">
$262,500
</td>
<td valign="top" width="142">
-6.3%
</td>
</tr>
</tbody></table>
Sales volumes were down across regional WA in the December quarter, with preliminary Landgate data showing 1,264 transactions.
The figure was expected to be around 1,500 once all sales had settled.
“Albany and Broome were the strongest performers for sales activity over the quarter, bucking the trend to record stable volume levels.
REIWA analysis shows the bulk of regional sales transactions in the December quarter remained in the $150,000 to $360,000 price range.
“In Bunbury and Albany, while the majority of transactions were below $500,000, both regional centres saw an increase in activity in the higher end of the market.
"It has contributed to the quarterly median house price for both areas lifting,” Mr Groves said.
It was, on average, two days faster to sell a property in regional WA in the December quarter than it was in the September quarter.
“Drilling down, six of the regional centres saw improvements in the number of days it took to sell a property.
Albany and Bunbury were among the most improved, with it being 17 and 10 days quicker (respectively) to achieve a sale in those centres,” Mr Groves said.
Other regional centres to record an improvement in average selling days over the quarter were Northam, Esperance Urban Area, Mandurah/Murray and Geraldton/Greenough.
Meanwhile the Karratha Urban Area was unchanged on the September quarter.
When it came to discounting, the proportion of sellers needing to drop their asking price over the quarter remained stable in comparison to the September quarter at 63 percent.
“We did however see a decline in the amount sellers were needing to reduce their asking price by.
It would have been a contributing factor to regional WA’s overall median increasing in the December quarter,” Mr Groves said.
Property Observer found this three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-wa-spencer+park-123406654" target="_blank">16 Tunney Way, Spencer Park, WA</a><a href="https://www.realestate.com.au/sold/property-house-wa-spencer+park-123406654"></a>, (pictured above) that sold in February for $340,000 in the Albany district.
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