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The Financial System Inquiry recommendations, which include limiting self managed superfunds’ investment in property, have been criticised by the Real Estate Institute of Australia (REIA) who remain unconvinced about the risks.
REIA chief executive Amanda Lynch said they welcome the release of the Inquiry as an opportunity to identify scope for concern, but see a number of recommendations that could burden home borrowers.
“REIA is not convinced that the risks associated with lending through self managed superannuation funds (SMSFs) warrant the recommendations to limit the scope for SMSFs to invest in property,” she said.
“While we have well-documented concerns around the inappropriate marketing of property as part of an SMSF, REIA would be concerned by any move to restrict the possibility for mum and dad investors to secure their retirement through a balanced portfolio which includes property.”
The submission made by the REIA in August to the interim report noted that it is the place of the Inquiry to report on integrity and risks to the financial systems.
At the time, they warned that proposals around prohibiting SMSFs from leveraging into property “could be seen as passing an assessment on what are suitable investments for individuals.”
“Further, it ignores the fact that lending to SMSFs is such a very small part of the financial system that it is inconceivable that it presents a risk to it, even with further growth,” the submitted.
They noted that borrowers already have a number of restrictions, including the use of the property, the arms-length relationship with tenancies, and annual auditor scrutiny.
“To impose a prohibition on borrowing by SMSFs would put a constraint on the maximising of the profits of those funds and thus limit retirement savings,” the submission noted.
In fact, they made these four recommendations instead:
<ol>
<li>That the risk weights for insured loans be reduced. 
</li>
<li>That the current arrangements regarding negative gearing remain unchanged. 
</li>
<li>That a data base be developed to reduce information asymmetries between lenders and borrowers. 
</li>
<li>That the current arrangements regarding leveraging by superannuation funds remain unchanged.</li>
</ol>
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jduke-EHk3XBmHkn

The REIA’s four alternatives to restricting SMSF property investments

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It’s already close to the end of the year, and undoubtedly those looking to sell are getting a little anxious as the market starts to slow.
The seasonal slowdown of the real estate market over this period is just that, seasonal. However, it does mean sellers need to carefully consider their timing.
Certified Practicing Real Estate Agents chairman Geoff Baldwin explains that the Christmas period presents an opportunity for savvy investors to get in while other buyers turn their back on purchasing – but where does this leave our sellers?
"Historically our real estate markets slowdown from early November through mid to late January with the result that keen sellers become considerably more negotiable to the benefit of those few savvy buyers who are active during this period,” said Baldwin.
Stock is also set to increase due to this buyer inactivity, meaning your property will face more competition on the market with fewer buyers looking.
"While sellers who are not under pressure for a result will wait out this short term slowdown it is also not unusual to see others who are keen for a result, to drop their price expectations at this time of year,” he said.
“Sellers who are upgrading understand that they may accept less on their current property but they will also benefit when negotiating their next home.”
If you’re looking to buy and sell quickly, then there is perhaps an opportunity. However, if you can wait it out until 2015, then knuckle down, have a Christmas break from selling your home and get back into the market next year.
Baldwin points to the third week of January as when buying activity starts to heat up again – with 2015’s January to be no different.
{mijopolls 69}
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Should you wait until 2015 to sell your home?

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A new forecasting report from Colliers International has predicted ongoing growth in Sydney, Melbourne and Brisbane through 2015, particularly with investor sentiment expected to remain strong.
Peter Chittenden, Colliers International managing director – residential, explained in the Colliers 2015 Asia Pacific Property Outlook that low interest rates will attract first home buyers and investors.
“The outlook for interest rates is mixed, but headline indicators such as unemployment, construction activity and GDP point to a period of weaker overall economic growth which will result in interest rates remaining steady in the short to medium term,” he said, noting that it will be good news for residential property and will continue demand momentum.
Supportive conditions in 2015 for investment are expected to continue.
“Sydney, Melbourne and Brisbane residential markets will have the strongest residential growth, as weaker economic conditions in Western Australia will lead to a slowdown in development and investment activity in 2015,” said Chittenden.
Meanwhile, developments in central areas, near public transport, work and retail hubs will remain in high demand.
Chittenden expects that infill apartment developments will continue to grow next year, particularly with state and local government infill policies contributing to developers flocking into the CBD and inner suburbs in Brisbane, Sydney and Melbourne.
“This is evident in the volume of new apartments being developed and approved by local councils, and the strong growth in development site values,” he said.
“The Melbourne and Sydney CBDs have been the strongest performing markets, with the volume of apartments under construction in the next five years to reach and 18,000 and 6,000 respectively, buoyed by strong offshore demand, and a rapidly rising inner city population, a trend we anticipate will continue in 2015," said Chittenden.
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Sydney, Melbourne and Brisbane are still cities to watch in 2015: Colliers International

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Everyone wants Christmas to go smoothly – but unit and apartment owners and residents may face a bit of a surprise if they don’t watch their mounting bills.
Archers Body Corporate Management’s partner Grant Mifsud has warned about the price of power over summer as some apartments see bills increase by up to a third.
Bodies corporate would be wise to assess the electricity habits of the building to reduce wastage, according to Mifsud, who said that on a number of levels the body corporate and the residents need to be active to reduce these costs.
“Because all schemes are unique, at the highest level we encourage all our new clients to undertake a full scale energy audit to identify areas to save which might include changing lighting, pumps and timing mechanisms,” he said.
“At a scheme level, bodies corporate should be reviewing the tariff allocation listed on electricity bills to ensure it’s the most effective for the type of scheme and electricity habits. This step alone can save bodies corporate up to 13%.”
He also said bodies corporate should tell the residents how to reduce their individual costs.
Here are four tips for apartment residents and bodies corporate to consider:
<ol>
<li>Adjust timers on common area lighting - as the days get longer, lights can switch on later at night and off earlier in the morning. 
</li>
<li>Review the body corporate’s tariff allocation as detailed on each bill to ensure it is the most efficient tariff for your scheme’s needs. 
</li>
<li>Consider a bulk energy purchase agreement – this is especially effective for large schemes or schemes that have commercial elements with high energy consumption. 
</li>
<li>Talk to an expert consultancy about conducting a full scale energy audit to identify cost saving initiatives to meet your building’s specific needs. Source: Archers Body Corporate Management
</li>
</ol>
 
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Four tips for new unit owners over the Christmas season

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When it comes to owning a rental property, of course there will be some wear and tear from tenants who pay to live in the home and use the facilities.
This is usually an issue that arises at the end of the tenancy when undertaking a thorough inspection.
A certain degree of wear and tear is said to be acceptable – and this is “fair” wear and tear.
Unfortunately, the law doesn’t provide a clear cut explanation as to what fair wear and tear entails. It’s not surprising that landlords will regularly argue what falls under this banner and what instead counts as ‘damage’.
Common sense is a beautiful thing when determining the grey areas of tenancy law.
If what you consider ‘damage’ is an inevitable result of daily living and use, then it is not damage for the purposes of claiming money from your tenant. Things do get scuffed, carpets do fray around the edges, seals and taps and handles do come loose.
Investors must be prepared to expect this type of wear and tear in any property. Similarly, carpets, doors and other items do become worn over time and through exposure to the sun or elements.
You would be unable to claim that a tenant had caused the damage of broken guttering in a hailstorm, however you may be able to claim that they should have let you know of the damage, if it later causes bigger problems from lack of maintenance.
Avoidable damage, such as cigarette burns in the carpet or stains, cracked toilet cisterns, broken mirrors, significant scratches, holes in the walls and similar, would certainly be worth looking at and discussing a claim from the tenant’s bond.
Tenants' Union of ACT explains that 'fair' relates to the cause, while 'wear and tear' is the damage that occurs. Some items may be more difficult to ascertain - such as a wine spill, that occurs in the general and fair use of the area - they note that this would likely not be considered fair wear and tear, while carpet deterioration in high traffic areas would be.
Tenants do have a responsibility to keep the premises clean and to tell of maintenance required when it occurs. It can be argued that if a tenant has not been responsible with these two matters then the wear is greater than it should have been or that damage has occurred. The condition report and photographs taken during regular inspections should assist in these discussions.
Issues around wear and tear should initially be discussed between the tenant and the property manager to come to a mutually acceptable conclusion before taking it to tribunal.
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What is “fair wear and tear” in a rental? Investment terms explained

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It’s common investment talk that to do up a property with a new kitchen or bathroom should reap you thousands of dollars in added value.
However, this might not actually be so, according to Smartline Personal Mortgage Advisers’ executive director Joe Sirianni.
“Minor renovations are more likely to have an impact with a unit,” Sirianni said.
“But with a house, superficial renovations may make a property more saleable, not necessarily produce a greater value – particularly given that in Australia a large proportion of a property’s value is in the land.”
In fact, in many cases superficial renovations have the potential to result in a slight increase in purchase price, and perhaps more buyers, but usually attracts the people who are already looking.
“It’s not the new floorboards, a new kitchen or a renovated bathroom that will have the banks’ valuers applying additional value to a property,” said Sirianni.
Structural improvements, however, do have the potential to have an impact on a valuation.
This could include adding bathrooms or bedrooms, and possibly adding a new garage.
For home buyers who are looking to undertake “non structural” renovations, then the bank often lends without a new valuation.
“People who improve the look of a home with non-structural renovations generally don’t understand that’s all they have done – that is, take away the run-down look of the property,” Sirianni said.
“They haven’t added bedrooms, bathrooms, a garage or anything that will put it into a new category for buyers.”
As a result, it’s usually looked at in the same way by valuers.
“It’s acknowledged that you spent, say, $50,000 on it, but they know that you’re very unlikely to get more than your $50,000 return on it,” he said.
“Quite often the banks won’t even match the valuation to what you’ve spent unless there’s a big structural improvement.”
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A kitchen or bathroom renovation won’t deliver a windfall: Smartline

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For a period of time it seemed that everyone was expecting the next interest rate movement from the RBA to be a hike.
However five experts surveyed by finder.com.au have now changed their opinion, totalling eight experts expecting an increase.
The latest finder.com.au Reserve Bank Survey has eight leading experts predicting a possible drop next year.
<ol>
<li>Shane Oliver, AMP Capital 
</li>
<li>Scott Pape, Barefoot Investor 
</li>
<li>James Bond, Financial Services Council 
</li>
<li>Noel Whittaker, QUT Business School 
</li>
<li>Bill Evans, Westpac 
</li>
<li>Andrew Wilson, Domain Group 
</li>
<li>Stephen Koukoulas, Market Economics 
</li>
<li>David Scutt, Scutt Partners</li>
</ol>
The first five on this list have only recently altered their opinion on what the RBA is likely to do in 2015.
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The experts who are now predicting a 2015 rate cut

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The property market for houses in Perth has been given a higher risk status in five of a total seven points of measurement from Herron Todd White.
Of the seven points of measurement, the two remaining stable include:
New properties are ‘almost never’ sold at prices exceeding their potential resale value.
The ‘rental vacancy trend’, which, while not exactly for investors, remains at an ‘increasing’ level.
Here are the five indicators that have been upgraded to higher risk status:
<ul>
<li>
Rental vacancy situation - Oversupply of available property relative to demand 
</li>
<li>
Demand for new houses - Soft 
</li>
<li>
Trend in new house construction - Steady 
</li>
<li>
Volume of House Sales - Declining 
</li>
<li>
Stage of Property Cycle - Declining market
</li>
</ul>
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Perth property market has ‘higher risk-rating’ in five of seven indicators: Herron Todd White

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Summer Hill’s Flour Mill development, from EG, includes 300 apartments and terraces in total, with communal gardens and commercial spaces.
At the weekend event, stage one and stage two saw an 85% sellout, with a total of 127 apartments available.
Of the <a href="https://www.summerhillflourmill.com.au" target="_blank">Flour Mill </a>apartments, studios, one, two and three bedrooms were available, while three and four bedroom terraces could also be purchased.
Within the development there will be 12 studios, each at 50 square metres, and from $555,000, with 10 one bedroom apartments at 46 to 52 square metres from $520,000.
The most common option, with 68 available, are the two bedroom apartments from 82 to 90 square metres priced from $770,000. Two bedroom, plus study apartments are priced from $800,000 and span up to 94 square metres, with two bedroom terraces also available from $865,000.
With 15 three bedroom apartments, ranging from 93 to 115 square metres for the apartment and 161 to 175 square metres for the terrace, the prices are from $950,000 and $1,350,000 respectively.
Four bedroom terraces, up to 180 square metres, are priced from $1,375,000.
<img src="/images/2014/12/08/summer%20hill%20dec%208%20two.jpg" alt="">
While interest was seen across all the apartment types it was first home buyers who were purchasing the studios and one bedroom apartments, while terraces with underground parking and two bedroom apartments with parking were popular.
Overall, 65% of the purchasers were owner occupiers, while the remaining 35% will be investor owned.
Development director of EG, Grant Flannigan, said that the development includes contemporised heritage elements.
“The Flour Mill is all about great living, established open spaces and connectivity – a place to live, to work and a place where it’s easy for people to get together,” he said.
Designed by HASSELL, the development will see construction begin on the first of two stages next year, with completion expected in late-2017.
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Summer Hill’s Flour Mill sells 85% of apartments at weekend event

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Last month, the proportion of first home buyers in New South Wales dropped to 1.9% - or less than one in 50 borrowers, according to AFG statistics.
This November figure is the lowest ever level recorded and coincides with drops to historic lows also recorded in Victoria and South Australia. Their first home buyer proportions were recorded at 7.4% for Victoria and 6.3% in South Australia.
Queensland first home buyers have lifted off the lowest levels seen last month, at 4.7%, to a marginally improved 5.2%, while Western Australia’s first home buyers are up to 19.1% from 17.9%.
Investors are still a strong segment, totalling 40.7% of new loans and spanning up to 50.9% in New South Wales. This drops to 39.8% in Victoria and 35.9% in South Australia. In Queensland and Western Australia investors make up 34.5% and 29.8% of the market respectively.
AFG’s general manager of sales and operations Mark Hewitt said that they’ve been highlighting the imbalance in the market since losing the first home buyers grant in a number of areas.
“Last month was the closest to zero we’ve recorded for NSW, and first home buying is well below its long term trend of around 12% to 15% everywhere except in WA,” said Hewitt.
They point to a $10,000 grant available for first home buyers purchasing new properties in WA and $3,000 for established purchasers.
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New South Wales first home buyers now strikingly uncommon

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Jennifer Duke

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