40a45208-cfc6-4541-9ec2-cf9c7f0e88c2

<div class="row ci">As part of the TUD+ Professional Membership, members can access any of our virtual, live events free of charge and receive exclusive member discounts to our physical events. Below is a list of upcoming events you can register for. Simply click the button under each event and the relevant discount will be applied to your ticket. Please be mindful to only register your own name, as it will be confirmed against the Professional Membership database. Any questions or issues please log an enquiry <a href="https://www.theurbandeveloper.com/tud-enquiries" data-mce-href="https://www.theurbandeveloper.com/tud-enquiries">through this form.</a></div><div id="6eSHVQplArPi8EUwmp2y1a"> <hr><div id="4GmCJmoxeGnun6gGiyrBYz"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7n5guLuySGtHxTdmVjVlhP/22bb6169d452f602f3552a51797d257d/Cvent_Header_Images__600___400px___22_.png" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/7n5guLuySGtHxTdmVjVlhP/22bb6169d452f602f3552a51797d257d/Cvent_Header_Images__600___400px___22_.png"></picture><div>The Urban Developer Long Lunch (Brisbane) | Thursday 7 December 2023 Join 300+ property professionals in Brisbane for a networking lunch hosted by The Urban Developer. Enjoy an all-inclusive dining experience while hearing perspectives and predictions from four leading Brisbane developers -&nbsp;Pikos, Graya, Silverstone and Griffith Group.SOLD OUT</div></div><div id="4gVCxLvV40Vgez8sA1ezSC"><div><hr></div><div> </div></div><div id="0v3ejZ7faHZ749pt5wK1W"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4ql8FlUvtf3gMTqya9tU73/1e06e53ac745674f86a9e7ac1ed5d615/General_Header_Images__600___400px___1_.png" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4ql8FlUvtf3gMTqya9tU73/1e06e53ac745674f86a9e7ac1ed5d615/General_Header_Images__600___400px___1_.png"></picture></div>Do you want to learn how to build a residential feasibility and structure a deal? The Urban Developer and Altus Group present a comprehensive online masterclass that delves into the numbers and shapes behind the project. Attendees will learn how to build a detailed feasibility and structure a potential external investment by combining financial analysis techniques with fundamental property due diligence and scenario analysis.&nbsp; This workshop focuses on practical case studies supported by an interactive Q&amp;A where the real-world examples can be discussed and analysed with the session host Adam Di Marco, founder and CEO of The Urban Developer.For any participant in the property industry, this masterclass is a must-attend event to enhance your understanding of residential property development.<a href="https://cvent.me/oweDrZ?RefId=TUD%2B+Member+%7C+Registration" target="_blank" rel="noopener" data-mce-href="https://cvent.me/oweDrZ?RefId=TUD%2B+Member+%7C+Registration">Click here to register for free</a><div id="4gVCxLvV40Vgez8sA1ezSC"><div> </div></div><div id="0v3ejZ7faHZ749pt5wK1W"><div id="4aCAfwZNvkEO9gLxh14V7H"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7y9HNNhm2rxLPrDazUFFzn/750d45e6051d9008baddd49571b74428/General_Header_Images__600___400px___2_.png" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/7y9HNNhm2rxLPrDazUFFzn/750d45e6051d9008baddd49571b74428/General_Header_Images__600___400px___2_.png"></picture></div></div>New planning changes intended to address Australia's housing shortage have opened up 'micro-development' opportunities for private investors and property developers.&nbsp;Recent analysis has identified more than 655,000 suitable sites for the construction of a granny flat across Australia's three largest capital cities - Sydney, Melbourne and Brisbane.&nbsp;So what are these opportunities and how can property developers tap into them?Join us for a virtual course where we explore the market opportunity, planning framework, investment model and built outcomes associated with developing granny flats.&nbsp;<a href="https://cvent.me/KvX04d?RefId=TUD%2B+Member+%7C+Registration" target="_blank" rel="noopener" data-mce-href="https://cvent.me/KvX04d?RefId=TUD%2B+Member+%7C+Registration">Click here to register for free</a> </div>

  As part of the TUD+ Professional Membership users are able to access any of our virtual live events. 

climage change cities ahuri opinion.jpg

The lack of co-ordination between Australia’s different levels of government is a key barrier to achieving comprehensive and integrated climate change adaption strategies in Australian cities and towns, according to new research.&nbsp;The research by the Australian Housing and Urban Research Institute (AHURI), Improving Australian climate change adaption strategies: learning from international experience, undertaken by researchers from Curtin University, examines successful climate change adaptation practices, strategies and policies implemented internationally that could support the sustainable development of cities and towns across Australia.&nbsp;“Adaptation strategies focus on reducing the impact of climate change on our cities and towns,” says lead researcher Dr Francesca Perugia, of Curtin University.&nbsp;“An example of an adaption strategy from our research is Riba-roja de Túria in Spain, where the town planted 35ha of low-flammable vegetation to protect the town from bushfires while also promoting community awareness.“These adaption strategies are different to mitigation strategies, which concentrate on tackling the causes of climate change.”Australia currently lacks a strong overarching direction in climate change adaptation, including legislation and funding.In a peer-reviewed 2019 assessment of adaptation plans of 54 countries, Australia was the worst performer. This poor performance can be linked to the narrow scope of Australia’s approach to adaptation, including the lack of political leadership, the division of powers, and allocation of responsibilities, across the three tiers of government.“While adaptation is a shared responsibility between governments at all levels; businesses, communities and individuals, state governments need to lead the way and deliver strong leadership,” Dr Perugia said.<div id="66rsvdFqF5NkJdyvfkNvoA"><picture><img src="//images.ctfassets.net/8pr762qjocl3/45bgUwCYKsL89KdEV4SIOK/95fefc148eafa3e9cbbd1631f7a12692/2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/45bgUwCYKsL89KdEV4SIOK/95fefc148eafa3e9cbbd1631f7a12692/2.jpg"></picture><div>▲ Flooding in Tulsa in the US Mid-West. </div></div>The research interrogated urban adaption strategies in three international case studies: flooding prevention in Tulsa, US; bushfire reduction in Riba-roja de Túria, Spain; and cyclone proofing in Florida, US.In Tulsa, adaption strategies are supported by overarching national policy and funding frameworks, and the combination of top-down and bottom-up solutions provide the best results.All three case studies emphasise active community participation and leadership in devising and delivering their adaption strategies.&nbsp;“Building community resilience and preparedness includes increasing awareness of climate change for households and communities, including improving their preparedness and understanding of natural disasters,” Dr Perugia said.“Climate change resilience is also improved by strengthening stakeholders’ networks between different sectors and between institutions and community.”The research found that Australian cities and towns should incorporate three main strategic approaches for effective climate change adaptation—long-term investment and holistic approaches; building community resilience to deal with the impacts of climate change; and innovation in structural solutions that respect and reinforce the local ecological system as a way to build resilience.

The lack of co-ordination between different levels of government is stopping comprehensive and integrated climate change adaption strategies…

hero images  (4).jpg

The upswing in Australia’s housing marker has spread, with four in five markets recording a rise in the past three months.According to data from CoreLogic’s online Mapping the Market tool, updated with data to the end of October, 2023, values in 83.1 per cent of house markets and 80.6 per cent of unit markets rose during the past three months. CoreLogic head of research Eliza Owen said this broadly reflected continued growth in the Australian housing market despite high interest rates and weakening economic conditions. “It’s often noted that Australia is not one housing market and we’re currently seeing increased diversity in capital city market performance,” Owen said. “That’s reflected in city-wide growth rates, the various levels of supply that’s available in some cities over others, and it’s reflected in the different suburbs we analyse in this report. “At one end of the spectrum, suburb-level analysis reflected the extraordinary growth trend across cities such as Adelaide, Perth and Brisbane. “In these cities, total listings levels are low, city-wide capital growth is running a bit over 1 per cent per month, and migration trends from overseas and interstate favour more housing demand.”<h2>Capital cities running at high speed </h2> In Brisbane, each of the 162 unit markets analysed had values rise in the past three months, while of the 305 house markets, just four saw a quarterly decline. These were the higher-end suburbs of Kalinga and Windsor as well as the more affordable Redland spots of Macleay Island and Lamb Island.&nbsp; In Adelaide, just 3 per cent of house markets had a decline in the quarter, but there was a notable portion of unit markets in decline (13.4 per cent, or 9 of the 67 suburbs analysed).&nbsp; In Perth, there was one suburb where house values fell in the past three months, Mount Hawthorn, but, Owen said, even there the house market sustained just a mild decline of 0.2 per cent.&nbsp;Portion of suburbs recording quarterly, annual falls in values: Houses<div id="4bcjSszpkhU0XqKQlqsTWE"><picture><img src="//images.ctfassets.net/8pr762qjocl3/65EKMtCyUxDAiaLlwgOMtD/ca0cf93f655430691d9b506785a72d71/2.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/65EKMtCyUxDAiaLlwgOMtD/ca0cf93f655430691d9b506785a72d71/2.jpg"></picture><div>▲ Source: CoreLogic </div></div>“Remarkably, 98.1 per cent of the house and unit markets across Perth rose in value during the past three months, and 96.3 per cent of suburb home markets in the WA capital were at record high values at the end of October.”<h2>Capital cities running at mid-speed </h2> Owen said Sydney and Melbourne were running at mid-speed, where city-wide capital growth was 2.5 per cent and 1.2 per cent respectively for the past three months.&nbsp; “The pace of growth across these markets has slowed from the middle of the year, when the June rate-hike surprised financial markets and many economists’ predictions,” she said. “Growth in Sydney markets are strongest across relatively expensive house markets, with Five Dock houses topping the three-month capital growth ranking (up 8.4 per cent).Portion of suburbs recording quarterly, annual falls in values: Units<div id="76uFgMRpLREBi8szDzr9Yv"><picture><img src="//images.ctfassets.net/8pr762qjocl3/FkauDBbF4srUjGzqQQJIM/d215659706f0b2e15d6131285a5391fc/3.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/FkauDBbF4srUjGzqQQJIM/d215659706f0b2e15d6131285a5391fc/3.jpg"></picture><div>▲ Source: Corelogic </div></div>“In Melbourne, it was the more mid-priced unit market of Moorabbin which topped the list, increasing 7.4 per cent.” <h2>Capitals that are flat or falling </h2>In Hobart and Darwin, 41 per cent of house markets had a quarterly decline.&nbsp; Owen said overall, Hobart home values ticked 0.3 per cent higher for the past three months, but capital growth trends have been shaky and total listings were trending around 47 per cent &nbsp;higher than the previous five-year average.&nbsp; “The city values have fallen in three of the past six months. Declines across Hobart houses were led by a 3.2 per cent fall across the relatively expensive market of Sandford.&nbsp; “Canberra has also had relatively flat capital growth and particular weakness in the unit market—32 of 39 unit markets analysed in the nation’s capital had a quarterly decline, the steepest in O’Connor, which was down 4.1 per cent.”Across regional markets, conditions are equally diverse, with regional Queensland the strongest house market and regional SA the best performing unit market.<div id="5YKkgwUVNf34eJXB6PRsez"><picture><img src="//images.ctfassets.net/8pr762qjocl3/gxB7fbahADp2Cfs0CIYHs/325b8f26fab1a42bce15df4d9ff3fc59/1.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/gxB7fbahADp2Cfs0CIYHs/325b8f26fab1a42bce15df4d9ff3fc59/1.jpg"></picture><div>▲ In Adelaide, just 3 per cent of house markets had a decline in the quarter.</div></div>

Values have risen in more than 80 per cent of the nation’s markets, according to fresh data…

hero images  (2).jpg

Apartment sales on the Gold Coast have skyrocketed, according to fresh data from Urbis, prompting some developers to turn their build-to-rent projects into build-to-sell.In its latest report on the Glitter Strip market, Urbis found apartment sales had risen from 200 in the second quarter of 2023 to 470 in the third.According to Urbis director Paul Riga, most of the sales were around the traditional apartment precincts of Surfers Paradise, Broadbeach and Main Beach, while the remainder of sales along the Gold Coast were limited due to a lack of new projects.In a significant trend, he said, a number of projects developed as build-to-rent had switched to build-to-sell, signifying developers’ desire to capture sales in a constrained supply environment.Projects to make the switch on the Gold Coast include the first stage of Cienna at Varsity Lakes; A’Dore at Southport, which has been renamed La Isla; and Essence, Surfers Paradise, now know as Essentia.“What the data tells us quite simply is that the demand for apartments has remained strong, with new developments harnessing the purchasers,” Riga said.“This is great for the property market, it underpins property prices but creates further problems with supply, so if new projects don’t get underway the supply will continue to diminish.”The data showed:<ul><li>Of the 470 sales during the past quarter, 77 per cent were in the Gold Coast Central Precinct</li><li>There were 1770 apartments for sale at the end of September—82 per cent of these were at Surfers Paradise, Main Beach and Broadbeach</li><li>The Gold Coast’s North Shore, Coastal Fringe and Southern Beaches precincts have limited supply with just 264 apartments for sale across them</li><li>Five new projects launched during the quarter—four at Broadbeach, the other at Main Beach.</li></ul>Highland chief executive David Highland, whose Sydney-based company has expanded its operations to the Gold Coast, said the data underpinned the resilience of the market.<div id="9Wti3yVxwxRrSzFib7dTJ"><picture><img src="//images.ctfassets.net/8pr762qjocl3/zbySfOmopbyFIm8Uac2kI/7fb6af62bc3eacdcb13c845c133b3b4c/Mid_article_resizes__16_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/zbySfOmopbyFIm8Uac2kI/7fb6af62bc3eacdcb13c845c133b3b4c/Mid_article_resizes__16_.jpg"></picture><div>▲ A render of Sammut Group’s Coast, now under construction at Surfers Paradise. </div></div>“What this shows us is that demand for the Gold Coast has not diminished since the boom times brought about after the Covid pandemic,” he said.“We still have strong interest from Sydneysiders keen to either move to the Gold Coast or take a stake in the Gold Coast’s future by purchasing an apartment here.“The problem is that unless construction costs stabilise there may not be the stock required to meet demand, so buyers getting into the market now are in an enviable position where there may be considerable upside in the value of their apartments.”Highland, whose company is marketing Sammut Group’s Coast apartments now under construction at Surfers Paradise, said the current inflationary pressures and construction costs were drawing buyers to quality developers that had the capacity to deliver.“Projects under construction or with a builder locked in are certainly at a distinct advantage in the eyes of buyers,” he said.Gold Coast new apartment sales<div id="28IKVNyVUZHriwcNZiWAFP"><picture><img src="//images.ctfassets.net/8pr762qjocl3/Jfl0jcFoDMkkYB00Qo4sK/abb62566c94a07796547a3d1aef061cd/gc_units_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/Jfl0jcFoDMkkYB00Qo4sK/abb62566c94a07796547a3d1aef061cd/gc_units_.jpg"></picture><div>▲ Source: Urbis</div></div>

Developers are repositioning build-to-rent to build-to-sell as the Gold Coast market proves its resilience…

1.jpg

Strong economic activity, solid retail spending and business investment have catapulted Victoria from fifth to number one in the latest CommSec State of the States report.The state also recorded its highest population growth in almost seven years, according to the October report.Victoria’s status as the nation’s best-performing economy comes after it ranked fifth in the previous report.However, there was little to separate the top six economies with South Australia now ranked second, up from third, followed by NSW, Queensland, Western Australia, Tasmania, the ACT, and the Northern Territory.The CommSec State of the States report, a quarterly ranking of economic performance, uses the latest available information to provide an economic snapshot of each state and territory by comparing eight key indicators: economic growth, retail spending, equipment investment, unemployment, construction, population growth, housing finance and home starts.According to CommSec, the report has an extra focus on annual growth rates for the eight indicators to highlight economic momentum. This data highlights the scope for Australia’s economies to lift on the economic performance leader board in future surveys.&nbsp; &nbsp;CommSec chief economist Craig James said Victoria had improved its ranking on four of the eight indicators.“Economic activity in Victoria in the June quarter was 7.7 per cent above its four-year average level of output and equipment investment was at record highs, up 19.7 per cent on the decade average,” he said.“While the lift from fifth to first is surprising, we knew coming into this quarter there was little to separate the economic performance of the states and territories.“We expect Victoria to face challenges from the other economies in the period ahead.“Looking at the other states and territories, the report also highlighted strong economic momentum from Western Australia as it leads on annual growth rates.”Victoria remained in the top spot for construction work done, up 19.7 per cent above its decade average, and ahead of Tasmania (up 18.1 per cent).Queensland has the strongest level of value of home loans, up by 15.3 per cent on the long-term average.Next strongest was SA (up 14.9 per cent), ahead of Tasmania (up 10.4 per cent) and WA (up 10.2 per cent).Tasmania remains in top position on home starts—4.8 per cent above the decade average. Queensland is now in second spot, with starts 9.8 per cent below ‘normal’ (the decade average). NSW is in third with starts down 12.5 per cent on the decade average, from SA (down 16.4 per cent on normal).State of the States, October 2023<div id="4s6HoX7wp3DIZmyrstXpVn"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3d8kNEGa5EyvdSF0KC0LKn/30dc613df4dc2af2e85dd6d78ff46586/SOTS_Snapshot_Overview_03_copy.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3d8kNEGa5EyvdSF0KC0LKn/30dc613df4dc2af2e85dd6d78ff46586/SOTS_Snapshot_Overview_03_copy.jpg"></picture><div>▲ Souce: CommSec State of the States October 2023 </div></div>Across the report’s eight key indicators:<ul type="disc"><li>Victoria ranked first on relative economic growth and construction work.</li><li>South Australia ranked first on relative unemployment.</li><li>Queensland ranked first on home loans.</li><li>Western Australia ranked first on relative population growth.</li><li>Tasmania ranked first on equipment spending and home starts.</li><li>The ACT ranked first on retail spending.</li><li>NSW ranked second or third on four of the eight indicators.</li><li>The Northern Territory ranked fourth on relative population growth.</li></ul>The report also found WA had the strongest economic momentum, with NSW, Victoria and Queensland tied for second.Victorian treasurer Tim Pallas underlined rising employment due to the state’s economy.“The near-record number of Victorians in work is the product of a strong economy that is providing confidence for businesses to hire new workers,” he said.“Robust economic activity means there are opportunities for existing workers and young people entering the jobs market for the first time.”

Strong economic activity, solid retail spending and business investment have catapulted the state to number one in the latest report…

hero images  (18).jpg

The Urban Developer&nbsp;is excited to invite you to an exclusive networking lunch in Sydney, where you can connect with more than 300 property professionals and gain valuable insights from industry leaders.This event, hosted by&nbsp;The Urban Developer,&nbsp;promises a three-hour, all-inclusive dining experience paired with exclusive perspectives from three prominent Sydney developers: AV Jennings,&nbsp;Crown Group&nbsp;and&nbsp;Fountaindale Group.<a data-mce-href="https://cvent.me/ggxdYn?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Overview" href="https://cvent.me/ggxdYn?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Overview" target="_blank" rel="noopener">Click here to register</a> <hr> Event details<ul type="disc"><li>Date: Thursday, November 16, 2023</li><li>Time: 11:30 am - 3:00 pm</li><li>Venue: The Grounds of&nbsp;Alexandria, Sydney</li></ul> Ticket options<ul type="disc"><li>Single ticket:&nbsp;$250 + GST</li><li>TUD+ Members: $200 + GST (20% off)</li><li>Tables (10): $2250 + GST</li></ul> Inclusions<ul type="disc"><li>Networking drinks upon arrival</li><li>Entree and main meal</li><li>Engaging developer panel discussion</li><li>Exciting lucky door prizes (valued at over $1000)</li><li>3.5-hour drink package</li></ul>With only 150 tickets available for sale, act swiftly to secure your spot at this must-attend event! <div align="center"><hr align="center" noshade="noshade" size="0" width="99%"></div><h2> Meet the Developers </h2><div id="4YFF0fBi1SWG7qyPtrwiu2"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4dd5FFY83KJyaLyUXPJp7B/0b5b11c930a35d574468da6c83ee1b71/7.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4dd5FFY83KJyaLyUXPJp7B/0b5b11c930a35d574468da6c83ee1b71/7.jpg"></picture> Philip Kearns, chief executive, AV Jennings </div>Former Wallabies champion and corporate executive Phil Kearns joined the board of AV Jennings in 2019 and became chief executive in 2022. With more than 15 years’ corporate experience, he now leads one of Australia’s oldest builders into a new era of technology, including a new joint-venture to build prefab homes in 10 weeks. <div id="2mlC22yxefRMMCHrp3Z8zO"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3F3p8QSnzI1I8jZo0Gk4lz/a46ab089174dd6b94c122d9a8661a10b/8.jpeg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3F3p8QSnzI1I8jZo0Gk4lz/a46ab089174dd6b94c122d9a8661a10b/8.jpeg"></picture> Jennifer Macquarie, director, Fountaindale Group</div>Jennifer is a partner and director of the Fountaindale Group, a family-owned property development company operating primarily in the Illawarra, Shoalhaven and Southern Highlands region. With interests spanning residential and commercial property, Jennifer is at the coalface of NSW's regional and metropolitan population shift. <div id="2YQLRitjxG4ZUYMmaaAONo"><picture><img src="//images.ctfassets.net/8pr762qjocl3/3UcfHgyYbplIUYV5WBNQnJ/a8e0e2c5b23e90216b40a9a2b2b1335d/9.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/3UcfHgyYbplIUYV5WBNQnJ/a8e0e2c5b23e90216b40a9a2b2b1335d/9.jpg"></picture><div> </div></div>Iwan Sunito, chairman,&nbsp;Crown GroupAfter a well-publicised feud with his business partner in 2023, one of Sydney’s highest-profile developers Iwan Sunito is looking to set a new course in coming years—and the record straight. While Crown’s assets undergo a restructure, Iwan is looking to the future with ambitious plans for a portfolio of residential and mixed-use projects in Sydney as well as further afield. <div align="center"><hr align="center" size="0" width="99%"></div> Don’t miss this exceptional opportunity to network with industry professionals and gain insights from these distinguished developers.Reserve your seat today for&nbsp;The Urban Developer&nbsp;Long Lunch and be part of the conversation shaping the future of property development.&nbsp;<a data-mce-href="https://cvent.me/ggxdYn?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Overview" href="https://cvent.me/ggxdYn?rt=X_aufiJPxEeHOTaMYZfoiQ&amp;RefId=General+Admission+%7C+Overview" target="_blank" rel="noopener">Click here to find out more.</a>

Join us for our exclusive Sydney networking lunch with more than 300 property professionals and insights from three prominent developers…

skyhigh towers opinion hero.jpg

Australia’s tallest building is currently the Gold Coast’s Q1, at 322.5 metres (including the spire).But the 78-floor largely residential tower is set to be challenged by taller buildings planned in Melbourne and on the Gold Coast.And Australia’s tall buildings are still relatively small when compared to giants overseas, such as Dubai’s 828m, 163-floor Burj Khalifa, and the 1km-high Jeddah Tower planned for Saudi Arabia.So if the right environmental conditions exist, is there an upper limit to building tall? Actually, our planning should include safety considerations, not just engineering capability.<h2>A mile-high tower</h2> The concept of a mile-high skyscraper was first touted by US architect Frank Lloyd Wright in 1956.Wright proposed a 548-storey tapering form more than four times the height of the Empire State Building in New York City.<iframe src="https://www.youtube.com/embed/VhUDu0Q08UA" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen"></iframe> While Wright’s vision was an ideal, a historical review of tall buildings reveals a more steady, incremental approach to innovation. At various points in time, different technologies have been both the enabler and then limiter of building taller.Technical challenges grow, technology evolves to meet the needs, reaches its limits, and the cycle begins again. The structural engineer Richard Tomasetti noted in 2013’s The Tall Buildings Reference Book that “limitations are best perceived as a function of time”. This suggests that, over time, structural engineering can match any desired height given the right innovations.The first tall office buildings, made from load-bearing stone walls, appeared in Chicago and New York in the late 1800s. They were a response to the demands of a thriving economy and pressures on land and commercial floor space.The development of framed structural systems—first in cast iron such as New York’s famous Flatiron building, then steel, then hybrid concrete and steel systems—revolutionised tall buildings.<div id="7h6bBRvYl9AotAbCCrDNZ1"><picture><img src="//images.ctfassets.net/8pr762qjocl3/51bm7oO2wbXS9EPDwgCKk9/0a3766d0cb3e433d521196c8ba42776c/iStock-1515325110.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/51bm7oO2wbXS9EPDwgCKk9/0a3766d0cb3e433d521196c8ba42776c/iStock-1515325110.jpg"></picture><div>▲ New York City’s Flatiron building. </div></div>New innovations such as fire resistance, electric lighting, bathrooms and steam-powered radiators provided levels of comfort and safety that were unimaginable in older buildings.<h2>Gaining the lift</h2> One invention that enabled building height was the elevator. Before its adoption, there was a diminishing rental return on the highest floors, which had to be reached by foot.By making the upper stories more easily accessible, the elevator flipped the business model and the pursuit of height became an economic driver. Higher floors were marketed as healthier, quieter, more prestigious—and much more expensive. <iframe src="https://www.youtube.com/embed/GJDEjBDXJUc" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen" data-mce-src="https://www.youtube.com/embed/GJDEjBDXJUc"></iframe> Many structural innovations were beyond the scope of contemporary regulations and some more revolutionary engineering, such as metal cage construction, were applied in the field before the building codes caught up with the new technology.The approach to firefighting has been the most obvious constraint. Buildings more than seven or eight storeys tall are beyond the reach of a typical firefighter’s ladder. The requirement for suppressing fires has to be designed within the building itself.Some of the strategies developed for skyscrapers included compartmentalisation (containing and preventing the spread of fire), protected stairways for escape and for fire fighter access, a defend-in-place strategy, and the concept of phased rather than simultaneous evacuation of the building.<h2>The money constraint</h2> Building tall comes at a premium, and economies are an important motivator in developing cost-efficient designs. Greater financial return on higher floors can offset the cost, but the financial case can be complex.Tall buildings are inherently more expensive to build than low-rises, largely because of the size of the structure required to deal with wind loads and vertical loads.They take longer to build and are generally 25-40% more expensive per square metre than a low-rise building.They also lose efficiency in terms of lettable or sellable area, because of the significant amount of area required in support. Stairs, lifts, bathrooms, and a myriad of services supplying power, fresh air, data, as well as key life safety systems are often bundled together in the building’s core.<div id="4wMC7smwUYy15mQ3dT5Bim"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4iWPDxL7L54Q5ehRtMjvCF/e6d2c555bafa67f9d882abf286f2e78b/iStock-1218439681.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4iWPDxL7L54Q5ehRtMjvCF/e6d2c555bafa67f9d882abf286f2e78b/iStock-1218439681.jpg"></picture><div>▲ The Gold Coast’s Q1 is currently Australia’s tallest tower. <a href="//images.ctfassets.net/8pr762qjocl3/4iWPDxL7L54Q5ehRtMjvCF/e6d2c555bafa67f9d882abf286f2e78b/iStock-1218439681.jpg" target="_blank" rel="noopener" data-mce-href="//images.ctfassets.net/8pr762qjocl3/4iWPDxL7L54Q5ehRtMjvCF/e6d2c555bafa67f9d882abf286f2e78b/iStock-1218439681.jpg"></a>&nbsp;</div></div>A recent phenomenon in office design has been to increase the lettable area per floor, essentially fattening the building to improve the net-to-gross.<h2>Smarter buildings</h2> The past 60 years have been a period of extraordinary advances in technology. These include the development of structural systems, high-strength concrete and steel, vertical transportation systems, and sophisticated glass and steel façades coupled with computational methods and smart technologies.Software and computing power has enabled more accurate analysis of structures and statistical analysis as well as higher degrees of coordination of the different systems that serve the building and its occupants.There are many interesting technologies developing to service super-tall structures. For example, distributing water from the base to the top of a super-tall tower would be unacceptably costly using today’s technology.The concept study NEXT Tokyo 2045 proposed for Tokyo Bay—which proposes the world’s first mile-high skyscraper—looks to decouple from urban utilities to avoid pumping water from the ground up. Instead, the design team proposes using the building’s surface area to harvest water from clouds and rain.<iframe src="https://www.youtube.com/embed/R2WvGA3IiDY" width="560" height="314" frameborder="0" allowfullscreen="allowfullscreen"></iframe> The façade of such buildings also offers enormous surface area for generating solar-powered energy for local use.Smart technology for elevators that continuously review building traffic patterns and optimise traffic handling is one of the latest evolutions of elevator design. These would allow double and triple-decker elevators to work effectively.Wright’s vision for quintuple-decker lifts (albeit in his proposal was powered by atomic energy) has become potentially viable due to the developments in both hardware and software.<h2>Life in the high winds</h2> The behaviour and expectations of occupants is likely to evolve owing to the physics of height.Wind, often regarded as the main structural foe, is an inescapable phenomena that effects not only the structural response, but also occupant comfort and the level of engagement with the outdoors.Wind hitting the building can cause uplift and areas of negative pressure that effects the permeability of the façade. Occupant controlled windows, balconies and outdoor living as we know it become untenable and a greater reliance is given to mechanical systems for ventilation and temperature control.Buildings can be designed so that wind can pass through, and the energy harnessed and controlled.If height becomes an inconvenience owing to the time taken in elevators to reach ground level, then multiple uses of intermediate levels should be considered so that street level is not the primary social destination.A variety of uses such as leisure, work, social and healthcare uses could change the model of towers which from single use to something similar to a small town.So we are able to adapt our technologies, business models and behaviours to accommodate for ever-increasing heights. It seems there is no height limit for buildings. Or is there?<h2>Fire and safety</h2> We pay great attention to addressing all the drivers for tall, and seem to ignore all those elements that act as constraints. Yet history provides us with a long list of disasters involving tall buildings.We recently saw a most tragic example in the Grenfell Tower fire in London.While long and detailed investigations will establish its causes, one obvious conclusion can be drawn without having to wait for such investigation.Fire safety in high rise buildings (a constraint) has not received sufficient attention. This has put society in a position to challenge the competency of those involved in guaranteeing the fire safety of tall buildings.Solutions generated to enable height, such as staged emergency evacuation and defend in place, do not seem to be valid anymore when large external fires seem to be an unavoidable feature of the architecture of modern tall buildings.It is not certain we have solutions that will guarantee the safety of people occupying a tall building when we have no capacity to evacuate if a fire was to propagate externally. Let’s not forget that disasters can be one of the most effective means to put a break to progress.So therefore the only limit to height is our capacity to maintain the safety of people in all aspects associated with the design, build and occupancy of tall buildings. <hr> AuthorsJose Torero Professor, The University of QueenslandKathryn Humphreys Research fellow, The University of QueenslandThis article is republished from The Conversation under a Creative Commons license. Read the <a href="https://theconversation.com/reach-for-the-sky-why-safety-must-rule-as-tall-buildings-aim-higher-83223" data-mce-href="https://theconversation.com/reach-for-the-sky-why-safety-must-rule-as-tall-buildings-aim-higher-83223">original article</a>.

As tower builders aim ever higher, is there a limit to how high we can build? 

cbd office recovery cbre.jpg

Australian CBD office markets are coming out of the post-pandemic downcycle stronger than anticpated.According to CBRE’s latest Australia CBD Office Occupancy Brief, most CBD offices are in a strong leasing position with elevated CBD vacancy rates being driven by a small number of assets.As of the second quarter of 2023, 62 per cent of Australian CBD office properties had occupancy rates greater than 90 per cent while 15 per cent of properties in these CBD markets had occupancy rates between 80 per cent and 90 per cent.CBRE’s research shows the share of office properties topping 90 per cent occupancy is consistent across each of the Australian cities, with Canberra having the highest at 66 per cent followed by Sydney at 65 per cent Adelaide at 64 per cent Brisbane at 62 per cent Melbourne at 61 per cent and Perth at 54 per cent.CBRE research manager Thomas Biglands said that although overall vacancy rates might increase marginally over the near term, well-situated and high-quality office properties would maintain elevated occupancy rates.“We forecast that the CBD vacancy rate will peak at 13.5 per cent in 2024 due to the final recovery in return-to-work rates in the larger markets and the elevated levels of new supply expected to be delivered over the next year,” he said.“Following this peak, we expect that vacancy rates will recover gradually as construction slows and leasing demand accelerates.”CBRE senior managing director, advisory and transaction services Mark Curtain said the lockdown period had forced occupiers to rethink office requirements and necessitated a shift towards hybrid working models, “a move which led to a period of slower leasing activity and rising vacancy rates”.“Despite these shifts, office market conditions in Australia are reversing course and showing real signs of improvement.“We are coming out of this period in a much stronger position than general sentiment would suggest.”

The capitals’ office occupancies are showing “real signs of improvement”, according to new national data…

hero images  (13).jpg

The rate of housing cost rises has slowed but not enough to help inflation maintain a downward trend.According to the ABS, the monthly Consumer Price Index indicator rose to 5.2 per cent in the 12 months to August 2023.ABS head of prices statistics Michelle Marquardt said the month’s annual increase of 5.2 per cent was up from 4.9 per cent in July.“Annual inflation remains below the peak of 8.4 per cent in December 2022,” she saidThe most significant contributors to the August annual increase were housing (up 6.6 per cent), transport (up 7.4 per cent), food and non-alcoholic beverages (up 4.4 per cent), and insurance and financial services (up 8.8 per cent).New home prices rose 4.8 per cent—the lowest annual rise since August 2021, as building material price increases continued to ease, reflecting improved supply conditions, according to the ABS.Rent prices rose 7.8 per cent in the 12 months to August, up from 7.6 per cent in July, as the rental market remains tight.“CPI inflation is often impacted by items with volatile price changes like automotive fuel, fruit and vegetables, and holiday travel,” Marquardt said.“It can be helpful to exclude these items from the headline CPI to provide a view of underlying inflation.“When excluding these volatile items from the monthly CPI indicator, the annual rise of 5.5 per cent in August is lower than the annual rise of 5.8 per cent in July.”The annual increase for housing of 6.6 per cent was lower than the 7.3 per cent increase in July.<div id="2g9lOMrms2oE8ZTHwkzHVC"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7mBWgoGdfwNuNQU9UZmlLZ/73a8380bcf95156223b8c5c1c80e69fb/Mid_article_resizes__78_.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/7mBWgoGdfwNuNQU9UZmlLZ/73a8380bcf95156223b8c5c1c80e69fb/Mid_article_resizes__78_.jpg"></picture><div>▲ Vehicle fuel prices rose 13.9 per cent compared to 12 months ago and were up 9.1 per cent for August. </div></div>Electricity prices rose 12.7 per cent and gas prices rose 12.9 per cent in the 12 months to August, reflecting increases in wholesale prices.Rebates from the Energy Bill Relief Fund introduced in most cities from July reduced the impact of electricity price increases for eligible households.Automotive fuel prices rose 13.9 per cent compared to 12 months ago. In monthly terms, fuel prices rose 9.1 per cent in August.“The annual movement for automotive fuel remains volatile, partly reflecting price changes from 12 months ago, when automotive fuel prices fell 11.5 per cent in August 2022,” Marquardt said.“Price rises this month, combined with base effects, have seen the annual movement for automotive fuel increase 13.9 per cent in August, compared to a fall of 7.6 per cent in July.”Food and non-alcoholic beverages rose 4.4 per cent in the 12 months to August, down from the 5.6&nbsp;per&nbsp;cent annual increase in July and is the lowest annual increase since February 2022.“Food inflation continues to ease although differences remain across the food categories,” Marquardt said.“Prices for bread and cereal products, and dairy products have risen more than 10 per cent in the past 12 months, while fruit and vegetable prices are 8.3 per cent lower compared to 12 months ago due to improved growing conditions.”

The slowdown, including new home prices rising at the lowest rate in two years, wasn’t enough to help inflation maintain its downward trend…

What’s ahead for our industry? Have your say and you’ll have the chance to win a package valued at $3500.The Urban Developer, in association with nbn co limited, is undertaking a comprehensive independent industry sentiment survey to identify the issues, perspectives and predictions of our audience of more than 65,000 property professionals.In just 10 minutes, you can provide critical perspectives on a range of aspects of the property industry, including:<ul type="disc"><li>General sentiment</li><li>Project feasibilities</li><li>Site and asset values</li><li>Planning approvals</li><li>Construction costs</li><li>Project funding</li><li>Market demand</li></ul> By doing so you will not only add insight to the industry but also go in the running for the prize package that includes an all-access ticket&nbsp;to Urbanity 2024 on the Gold Coast, a $1000 accommodation voucher and an annual&nbsp;TUD+ Professional membership.We will share the findings of our independent survey with the industry through a series of articles, reports, webinars and industry roundtables.By contributing, you are helping the industry to understand the complexities of today and of the future.&nbsp;Your input is invaluable, so complete the survey before the deadline of October 2, 2023, and be in the running for our great prize.<a data-mce-href="https://www.research.net/r/67235MY" href="https://www.research.net/r/67235MY" target="_blank" rel="noopener">Take the survey now.</a>Thank you for being a part of The Urban Developer community. We look forward to hearing your insights and wish you the best of luck in the prize draw.<div id="21kPBY9zw6ydaHegVrDWVW"><picture><img src="//images.ctfassets.net/8pr762qjocl3/4tIqCKVF4sApArj3JouOs6/2e27d475b1cfb6f5b0ed39c166156258/SURVEY_-_Property_indus_mid.png" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/4tIqCKVF4sApArj3JouOs6/2e27d475b1cfb6f5b0ed39c166156258/SURVEY_-_Property_indus_mid.png"></picture></div>

Take part in our industry-wide independent survey and you could win a package valued at $3500…