AUSTRALIAN HOME VALUES FALL IN OCTOBER, BUT IT’S NOT ALL BAD NEWS
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AUSTRALIAN HOME VALUES FALL IN OCTOBER, BUT IT’S NOT ALL BAD NEWS

The latest figures follow on from a continued decline in values in recent months

By KANEBRIDGE NEWS
Fri, Nov 11, 2022 11:21amGrey Clock < 1 min

Consecutive and aggressive interest rate hikes appear to have taken their toll on residential property prices as national home values fell by -4.1 percent in the three months to October 2022, data from CoreLogic reveals.

The decline was consistent across Australian capitals and regional areas, with combined regional values falling by -4.1 percent compared with -4.0 percent in the combined capitals.

The latest figures bring the drop in dwelling values over 12 months to -0.9 percent and represents a slowing in the pace of decline from -1.4 percent in September to -1.2 percent in October.

Digging deeper, Sydney home prices have continued to fall, by -1.3 percent in October, -10.2 percent less than the record high in January this year. Prices also fell in October in the southern capital of Melbourne, which saw a -0.8 percent decrease in values in October. CoreLogic reports Melbourne dwelling values are not -6.4 percent below the record high in February 2022.

Hobart has also experienced a -5.7 percent drop in values below the record high, which was recorded in May this year. October values dropped by -1.1 percent and by -4.4 percent ovet the quarter.

The news in Adelaide was mixed. While values dropped by -0.3 percent in October, they have increased by 16.5 percent over the past year. It’s a less dramatic story in Brisbane, where values fell by -2.0 percent in October but have increased by 8.4 percent over the past 12 months.

 



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Wild cities and concrete corridors: How AI is reimagining the landscape

A new AI-driven account by leading landscape architect Jon Hazelwood pushes the boundaries on the role of ‘complex nature’ in the future of our cities

By Robyn Willis
Wed, Dec 6, 2023 2 min

Drifts of ground cover plants and wildflowers along the steps of the Sydney Opera House, traffic obscured by meadow-like planting and kangaroos pausing on city streets.

This is the way our cities could be, as imagined by landscape architect Jon Hazelwood, principal at multi-disciplinary architectural firm Hassell. He has been exploring the possibilities of rewilding urban spaces using AI for his Instagram account, Naturopolis_ai with visually arresting outcomes.

“It took me a few weeks to get interesting results,” he said. “I really like the ephemeral nature of the images — you will never see it again and none of those plants are real. 

“The AI engine makes an approximation of a grevillea.”

Hazelwood chose some of the most iconic locations in Australia, including the Sydney Opera House and the Harbour Bridge, as well as international cities such as Paris and London, to demonstrate the impact of untamed green spaces on streetscapes, plazas and public space.

He said he hopes to provoke a conversation about the artificial separation between our cities and the broader environment, exploring ways to break down the barriers and promote biodiversity.

“A lot of the planning (for public spaces) is very limited,” Hazelwood said. “There are 110,000 species of plants in Australia and we probably use about 12 in our (public) planting schemes. 

“Often it’s for practical reasons because they’re tough and drought tolerant — but it’s not the whole story.”

Hazelwood pointed to the work of UK landscape architect Prof Nigel Dunnett, who has championed wild garden design in urban spaces. He has drawn interest in recent years for his work transforming the brutalist apartment block at the Barbican in London into a meadow-like environment with diverse plantings of grasses and perennials.

Hazelwood said it is this kind of ‘complex nature’ that is required for cities to thrive into the future, but it can be hard to convince planners and developers of the benefits.

“We have been doing a lot of work on how we get complex nature because complexity of species drives biodiversity,” he said. 

“But when we try to propose the space the questions are: how are we going to maintain it? Where is the lawn?

“A lot of our work is demonstrating you can get those things and still provide a complex environment.” 

At the moment, Hassell together with the University of Melbourne is trialling options at the Hills Showground Metro Station in Sydney, where the remaining ground level planting has been replaced with more than 100 different species of plants and flowers to encourage diversity without the need for regular maintenance. But more needs to be done, Hazelwood said.

“It needs bottom-up change,” he said. ““There is work being done at government level around nature positive cities, but equally there needs to be changes in the range of plants that nurseries grow, and in the way our city landscapes are maintained and managed.”

And there’s no AI option for that. 

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