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<p>All eyes are fixed on Rio de Janeiro, thanks to the World Cup.</p>
<p>But it’s the city’s real estate market which has caught the eye of Savills, which added the Brazilian capital to its World Cities index this year.</p>
<p>This year, the index expanded from 10 “global cities” to 12 with the addition of Rio de Janeiro and Dubai. The London stock exchange listed real estate agency counts Rio among the world’s “new world cities”, along with Dubai, Moscow, Mumbai, Singapore, Hong Kong and Shanghai. London, New York, Paris, Tokyo and Sydney make up the old guard.</p>
<p>In its Live/Work Index, Savills ranks the 12 cities according to their cost of renting residential and commercial space per employee, per year. Rio de Janeiro has the second cheapest Live/Work value on the list, more expensive than only Mumbai.</p>
<p><strong>The Live/Work Index:</strong></p>
<ol>
<li>
<strong>Hong Kong<br></strong>Live/Work cost per worker, per year: $123,000<br><br>
</li>
<li>
<strong>London<br></strong>Live/Work cost per worker, per year: $115,000<br><br>
</li>
<li>
<strong>New York<br></strong>Live/Work cost per worker, per year: $112,000<br><br>
</li>
<li>
<strong>Paris<br></strong>Live/Work cost per worker, per year: $107,000<br><br>
</li>
<li>
<strong>Singapore<br></strong>Live/Work cost per worker, per year: $76,000<br><br>
</li>
<li>
<strong>Tokyo<br></strong>Live/Work cost per worker, per year: $74,000<br><br>
</li>
<li>
<strong>Dubai<br></strong>Live/Work cost per worker, per year: $72,000<br><br>
</li>
<li>
<strong>Moscow<br></strong>Live/Work cost per worker, per year: $70,000<br><br>
</li>
<li>
<strong>Sydney<br></strong>Live/Work cost per worker, per year: $60,000<br><br>
</li>
<li>
<strong>Shanghai<br></strong>Live/Work cost per worker, per year: $44,000<br><br>
</li>
<li>
<strong>Rio De Janeiro<br></strong>Live/Work cost per worker, per year: $30,000<br><br>
</li>
<li>
<strong>Mumbai<br></strong>Live/Work cost per worker, per year: $28,000</li>
</ol>
<p><em>Source: Savills</em></p>
<p>According to Savills, Brazil was “one of the big global success stories” of the decade from 2000, with 40 million Brazilians joining the country’s middle class between 2005 and 2011.</p>
<p>The report claims that “tougher policing” in Rio de Janeiro has “helped to pacify the drug controlled favelas”.</p>
<p>With this year’s World Cup and the Olympics in 2016, there have been significant infrastructure investments in the country. </p>
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jrichardson-uRX5hFdKfN

Rio de Janeiro “the real success story of Brazil’s economic emergence”: Savills

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<p>The Reserve Bank of Australia (RBA) has again chosen to keep the overnight cash rate at its record low level of 2.5%. The cash rate has not moved since August 2013.</p>
<p>The decision was widely anticipated by property industry commentators, with 18 surveyed industry experts recently <a href="/expert-insights/finance/experts-predict-rba-will-keep-rates-on-hold-for-july-finder">predicting the cash rate would stay on hold</a>.</p>
<p>RP Data’s research director Tim Lawless says that the cash rate is likely to stay on hold for the rest of the year.</p>
<p>“The RBA interest rate decision came at a time when value growth across the housing market continues to trend higher, albeit at a lower rate than in the recent past and the Australian dollar has remained stubbornly high around the ninety four cent mark,” said Lawless.<span style="line-height: 1.3em;">      </span></p>
<p><span style="line-height: 1.3em;">“RP Data recently reported that dwelling values were down 0.2% over the June quarter, dragged down by a very weak May result and a partial recovery of values in June.  Policy makers, including the RBA, are likely to be reassured by the slowdown in housing market conditions, where the rate of growth earlier in the year was increasingly viewed as unsustainable.</span></p>
<p>“It is looking increasingly like the official cash rate will remain at its low setting, at least for the remainder of this year, which should continue to support housing demand.  Capital gains over the past financial year were recorded at 10.1% across the combined capital cities, however we are expecting growth rates to wind down over the coming financial year as natural affordability constraints and low rental yields in the largest capital cities work to slow the rate of capital gains.</p>
<p>LJ Hooker chief executive Grant Harrod said that a future increase is expected.</p>
<p>“The continued stability of rates will give buyers extra confidence, even with speculation an increase will eventually come,’’ said Harrod.</p>
<p>“We have seen property price growth soften as the market heads into winter but, even still, demand is strong as seen in the volume of sales and auction clearance rates around Australia’s various markets.’’</p>
<p>LJ Hooker national research manager Mathew Tiller said unemployment levels remain at a stable 5.8%, in spite of concerns over the retail and mining sectors, while inflation is within the RBA’s target band.</p>
<p>However, he said that international markets could affect local interest rates offered by banks.</p>
<p>“In the US and EU, rates are set at close to zero and are not expected to move till mid-2015, while the risk of deflation in Europe has seen the European Central Bank introduce negative interest rates for bank deposits,” said Tiller.</p>
<p>“Major lenders here may look to tap into this cheap source of debt.”</p>
<p><em>Photo courtesy of Newtown grafitti/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.</em></p>
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RBA keeps interest rates on hold for July

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<p>New South Wales has topped the dominated the prestige market again this week, taking out with seven of the top 10 sales located in Sydney according to <a href="https://www.myrpdata.com/" target="_blank">RP Data</a>. </p>
<ol>
<li>
<strong><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/71_bay_street_double_bay_nsw_2028/2116749">71 Bay Street, Double Bay, NSW</a></strong><br><p><img src="/images/2014/07/01/a.jpg" alt=""><br><br>Judit Korner, of the Madame Korner beauty empire, <a href="/news/madame-korner-sells-longtime-double-bay-home">sold her five bedroom house</a> (pictured above) opposite Steyne Park for $7.2 million at auction through Richardson &amp; Wrench Double Bay. </p>
<p>The home is set on a 765 square metre block with dual street entrance, through a private road. Her late husband, George Korner, bought the home for £22,000.</p>
</li>
<li>
<p><strong><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3/18-20_coast_avenue_cronulla_nsw_2230/2011079">3/18 Coast Avenue, Cronulla, NSW</a></strong></p>
<p><img src="/images/2014/07/01/b.jpg" alt=""><br><br>A whole floor, four-bedroom apartment sold prior to auction through Highland Property Agents Cronulla for $5.202 million. Located in the four-apartment COAST development, the apartment has an ocean front balcony and ocean views from several rooms.</p>
</li>
<li>
<p><strong><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/34_kennedy_street_glen_waverley_vic_3150/11086112">34 Kennedy Street, Glen Waverley, VIC</a></strong></p>
<p><span style="line-height: 1.3em;"><img src="/images/2014/07/01/c.jpg" alt=""><br><br>This house in Melbourne’s eastern suburbs sold at auction through JRW Property International Glen Waverley for $3.2 million. Set on a 755 square metre plot, the home has six large bedrooms, five bathroom, with a tiered theatre room and home office. The vendors purchased the home for $909,800 in March last year. In March 2011, it was advertised to rent for $425 per week.</span></p>
</li>
<li>
<p><strong><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_kywong_avenue_pymble_nsw_2073/5641743">7 Kywong Avenue, Pymble, NSW</a></strong></p>
<p><img src="/images/2014/07/01/d.jpg" alt=""><br><br>A double storey, six-bedroom house secured $3.0 million when sold through Burns &amp; Burns Real Estate after 25 days on the market. It was purchased by the vendors for $2.3 million in September 2003. The home has substantial al fresco dining space and a pool with spa.</p>
</li>
<li>
<p><strong><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/71_henley_marine_drive_rodd_point_nsw_2046/5901661">71 Henley Marine Drive, Rodd Point, NSW</a></strong></p>
<p><img src="/images/2014/07/01/e.jpg" alt=""><br><br>This four-bedroom contemporary house sold through Raine &amp; Horne Five Dock for $3.0 million. The house, with uninterrupted views of Iron Cove Bay, has European Oak flooring throughout. It was purchased by the vendor in March 2011, for $1.35 million.  </p>
</li>
<li>
<p><strong><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/21_dock_road_birchgrove_nsw_2041/1445052">21 Dock Road, Birchgrove, NSW</a></strong></p>
<p><span><img src="/images/2014/07/01/f.jpg" alt=""><br><br>A three-bedroom terrace house sold through Belle Property Balmain for $2.735 million. The Victorian era house, with views over Mort Bay to the city and Harbour Bridge has a contemporary renovated interior. The sellers bought the house for $2.38 million in September 2010.</span></p>
</li>
<li>
<p><strong><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/16_abbott_street_balgowlah_heights_nsw_2093/1228594">16 Abbott Street, Balgowlah Heights, NSW</a></strong></p>
<p><img src="/images/2014/07/01/g.jpg" alt=""></p>
<p>McGrath Estate Agents sold this home for $2.58 million this week. The art deco inspired home was built four years ago. Outside, there is a solar heated pool, cabana, lawn and covered entertaining area. There is also a rooftop entertaining area, with panoramic views from Middle Harbour to Manly. The land and former house was purchased for $1.2 million in 2007.</p>
</li>
<li>
<p><strong><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/145_ryan_street_west_end_qld_4101/8214696">145 Ryan Street, West End, QLD</a></strong></p>
<p> <img src="/images/2014/07/01/h.jpg" alt=""></p>
<p>The only Queensland home on the top 10 list is a four-bedroom house, sold through Place Bulimba for $2.475 million. The three level house, designed by John Mainwaring, is set on 582 square metres of riverfront land. The land was originally purchased in 1985 for just $95,000, and was transferred to the couple’s daughter for $600,000 in 2011.</p>
</li>
<li>
<p><strong><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/9_vista_avenue_kew_vic_3101/11357589">9 Vista Avenue, Kew, VIC</a></strong></p>
<p> <img src="/images/2014/07/01/j.jpg" alt=""></p>
<p>A 1930s era, English inspired home on a cul de sac sold at auction by Kay &amp; Burton Hawthorn for $2.431 million. The agents advertised the house in Melbourne’s private school heartland as “just moments from Genazzano College”. The four bedroom, two bathroom house was purchased for $785,000 in 2006, with the vendors more than tripling their purchase price in eight years.</p>
</li>
<li>
<p><strong><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/61b_shadforth_street_mosman_nsw_2088/4504813">61B Shadforth Street, Mosman, NSW</a></strong></p>
<p><a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/61b_shadforth_street_mosman_nsw_2088/4504813"><img src="/images/2014/07/01/k.jpg" alt=""></a></p>
<p>This four-bedroom house was auctioned by Vernon Partners Mosman, securing $2.39 million. The 1930s era home was purchased is within walking distance of the ferry, Mosman Prep and Queenwood Junior School. The vendors purchased it in 1997 for $665,000.</p>
</li>
</ol>
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The 10 most expensive sales this week: RP Data

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<p>Victoria's auction clearance rate decreased to 74.6% for June, down from 75.4% in May.</p>
<p>For June, the strongest region was Melbourne's Outer East. Data from the Real Estate Institute of Victoria (REIV) shows that the area had a June clearance rate of 82.7%, up from May's result of 80.5%.</p>
<p>The weakest auction results were recorded in the West, where only 65.1% of homes auctioned in June sold at auction. The previous month's result was slightly better, with a clearance rate of 65.3%.</p>
<p>The biggest monthly improvement (on a percentage point basis) was recorded in North. There, the May clearance rate was 67.5%. In June, 73.6% of homes auctioned sold at auction. Victoria's North East region saw the largest drop, with the clearance rate falling from 78.4% to 72.5%. </p>
<p>This weekend saw strong clearance rates in Victoria, with all regions except the North and West recording a higher proportion of auction sales than were recorded at the same time last year. The total clearance rate for this weekend (29 June) was 75.0%. </p>
<table style="width: 460px;" border="0"><tbody>
<tr>
<td>
<h6>Region</h6>
</td>
<td>
<h6>June clearance rate</h6>
</td>
<td>
<h6>May clearance rate</h6>
</td>
</tr>
<tr>
<td>
<h6>Inner Urban</h6>
</td>
<td>
<h6>73.2%</h6>
</td>
<td>
<h6>77.5%</h6>
</td>
</tr>
<tr>
<td>
<h6>Inner East</h6>
</td>
<td>
<h6>78.1%</h6>
</td>
<td>
<h6>78.8%</h6>
</td>
</tr>
<tr>
<td>
<h6>Inner South</h6>
</td>
<td>
<h6>75.0%</h6>
</td>
<td>
<h6>78.5%</h6>
</td>
</tr>
<tr>
<td>
<h6>South East</h6>
</td>
<td>
<h6>72.3%</h6>
</td>
<td>
<h6>72.2%</h6>
</td>
</tr>
<tr>
<td>
<h6>Outer East</h6>
</td>
<td>
<h6>81.8%</h6>
</td>
<td>
<h6>80.5%</h6>
</td>
</tr>
<tr>
<td>
<h6>North East</h6>
</td>
<td>
<h6>72.5%</h6>
</td>
<td>
<h6>78.4%</h6>
</td>
</tr>
<tr>
<td>
<h6>North</h6>
</td>
<td>
<h6>71.3%</h6>
</td>
<td>
<h6>67.5%</h6>
</td>
</tr>
<tr>
<td>
<h6>West</h6>
</td>
<td>
<h6>65.8%</h6>
</td>
<td>
<h6>65.3%</h6>
</td>
</tr>
</tbody></table>
<p>This weekend's clearance rates by region, from <a href="https://www.reiv.com.au/" target="_blank">REIV</a>:</p>
<table style="width: 460px; height: 218px;" border="0"><tbody>
<tr>
<td>
<h6>Region</h6>
</td>
<td colspan="3">
<h6>29 June 2014</h6>
</td>
<td colspan="3">
<h6>30 June 2013</h6>
</td>
</tr>
<tr>
<td>
<h6> </h6>
</td>
<td>
<h6>Weekend Total</h6>
</td>
<td>
<h6>Sold</h6>
</td>
<td>
<h6>%Sold</h6>
</td>
<td>
<h6>Weekend Total</h6>
</td>
<td>
<h6>Sold</h6>
</td>
<td>
<h6>%Sold</h6>
</td>
</tr>
<tr>
<td>
<h6>Inner Urban</h6>
</td>
<td>
<h6>28</h6>
</td>
<td>
<h6>22</h6>
</td>
<td>
<h6>79.0% </h6>
</td>
<td>
<h6>24</h6>
</td>
<td>
<h6>18</h6>
</td>
<td>
<h6>75.0%</h6>
</td>
</tr>
<tr>
<td>
<h6>Inner East</h6>
</td>
<td>
<h6>17</h6>
</td>
<td>
<h6>14 </h6>
</td>
<td>
<h6>82.0%</h6>
</td>
<td>
<h6>31</h6>
</td>
<td>
<h6>22 </h6>
</td>
<td>
<h6>71.0% </h6>
</td>
</tr>
<tr>
<td>
<h6>Inner South</h6>
</td>
<td>
<h6>10</h6>
</td>
<td>
<h6> 9</h6>
</td>
<td>
<h6>90.0%</h6>
</td>
<td>
<h6>4 </h6>
</td>
<td>
<h6>2 </h6>
</td>
<td>
<h6>50.0%</h6>
</td>
</tr>
<tr>
<td>
<h6>South East</h6>
</td>
<td>
<h6>78 </h6>
</td>
<td>
<h6>55 </h6>
</td>
<td>
<h6>71.0% </h6>
</td>
<td>
<h6>80</h6>
</td>
<td>
<h6>54</h6>
</td>
<td>
<h6>68.0% </h6>
</td>
</tr>
<tr>
<td>
<h6>Outer East</h6>
</td>
<td>
<h6>118</h6>
</td>
<td>
<h6>102</h6>
</td>
<td>
<h6>86.0% </h6>
</td>
<td>
<h6>97</h6>
</td>
<td>
<h6>77 </h6>
</td>
<td>
<h6>79.0% </h6>
</td>
</tr>
<tr>
<td>
<h6>North East </h6>
</td>
<td>
<h6>34</h6>
</td>
<td>
<h6>29 </h6>
</td>
<td>
<h6>85.0% </h6>
</td>
<td>
<h6>39 </h6>
</td>
<td>
<h6>29 </h6>
</td>
<td>
<h6>74.0% </h6>
</td>
</tr>
<tr>
<td>
<h6>North</h6>
</td>
<td>
<h6>48</h6>
</td>
<td>
<h6>38 </h6>
</td>
<td>
<h6>79.0%</h6>
</td>
<td>
<h6>37</h6>
</td>
<td>
<h6>32 </h6>
</td>
<td>
<h6>86.0% </h6>
</td>
</tr>
<tr>
<td>
<h6>West </h6>
</td>
<td>
<h6>74 </h6>
</td>
<td>
<h6>46 </h6>
</td>
<td>
<h6>62.0% </h6>
</td>
<td>
<h6>63</h6>
</td>
<td>
<h6>44 </h6>
</td>
<td>
<h6>70.0% </h6>
</td>
</tr>
</tbody></table>
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Victoria's auction clearance rates down for June: REIV

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<p>Eight contracts were issued in the past four weeks at Ramada Couran Cove Island Resort on South Stradbroke Island.</p>
<p>Located off the Gold Coast, Stradbroke Island is a sand island split in two by the Jumpinin Channel.</p>
<p>According to Ramada Couran Cove Island Resort chief executive John Muntz, the resort’s owners, Couran Cove Holdings Pty Ltd, had spent millions of dollars on upgrades and improvements. <span style="line-height: 1.3em;">In January, the company took the resort’s apartments off the market to complete refurbishments and re-adjust pricing.</span></p>
<p><span style="line-height: 1.3em;"><img src="/images/2014/06/30/Ramada%20Couran%20Cove%20Island%20Resort%20-%20studio%20apartment%20interior.jpg" alt=""></span></p>
<p>“The response we have had since we released the apartments again has been very encouraging,” said Muntz.</p>
<p>Muntz said that the unseasonably warm autumn and winter months have resulted in high occupancy levels, with 100% capacity at the resort over Easter and the Queen’s Birthday long weekend.</p>
<p>A new departure terminal at Hope Harbour has allowed guests to take a 40 minute ferry trip from the mainland to the island.</p>
<p><span style="line-height: 1.3em;">“The new terminal has been a hit with a lot of people telling us that they feel their holiday starts the minute they step aboard the ferry as the ride over is spectacular,” said Muntz.</span></p>
<p>“Our future is very exciting and our current purchasers are recognising this opportunity presents itself only so often,” he said. According to Muntz, the resort’s marina was also popular with local boaties, who return on a regular basis to use the resort’s facilities.</p>
<p>“They like the fact that they can moor up, access power and water and then use the facilities like the swimming pool, the restaurant and Spa Island, and, if they choose, to the walk over to the beach,” he said.</p>
<p>“We have our regulars and have even started to serve some of them onboard their vessels when they order from the restaurant.”</p>
<p><img src="/images/2014/07/01/Ramada%20Couran%20Cove%20Island%20Resort.jpeg" alt=""></p>
<p>The eight contracts secured in the last month involve local, Brisbane and interstate purchasers.</p>
<p>Refurbished studio apartments are marketed from $220,000, with a lease back of 7% net return over two years, with potential to extend the lease back period. The Ramada Couran Cove Island Resort properties have waterfront or rainforest views. </p>
<p>“The one bedroom apartments start at $250,000 and we will be releasing the two and four bedroom apartments in the near future," said Muntz.</p>
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South Stradbroke Island resort apartments on the market 

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<p class="Default">New home sales fell 4.3% in May, according to the Housing Industry Association (HIA).</p>
<p class="Default">The decline, recorded in HIA’s New Home Sales Report, which surveys Australia’s largest volume builders, is the first recorded this year.</p>
<p class="Default"><img src="/images/2014/06/30/hia-juune-30-one.gif" alt=""></p>
<p class="Default">According to Harley Dale, HIA’s chief economist, new home sales may have reached their peak for the current cycle.</p>
<p class="Default">“The overall profile for new home sales is a healthy one, given that May marks the first decline in new home sales this year,” said Dale.</p>
<p class="Default">“Sales grew by 3.8% over the three months to May 2014 to be up by 21.0% compared to the same period in 2013.</p>
<p class="Default">“Further upward momentum may be a challenge and it is a distinct possibility that new home sales have peaked for the cycle,” he said.</p>
<p class="Default">“The volume of new home sales nevertheless remains consistent with further growth in detached house building and the continuation of historically elevated levels of multi-unit construction in 2014/15.</p>
<p class="Default">“Detached house construction has the potential to grow faster in 2014/15 than in 2013/14, but land supply constraints are again being exposed in this current upcycle, including a shortage of titled land in Sydney and Perth,” noted Dale.</p>
<p class="Default">“Inadequate land supply is one prominent example of supply side constraints preventing new home construction reaching its full potential, highlighting the need for a focus on housing policy reform.”</p>
<p class="Default">Sales for detached new houses decreased by 2.2% nationally over May, but were up by 5.7% for the quarter to May. Multi-unit sales also fell for the month, by 16.1%. For the three months to May, multi-unit sales were down 6.2%.</p>
<p class="Default"><span style="line-height: 1.3em;">In Victoria, detached house sales were up by 3.3%, and 0.5% in Queensland for May. On a monthly basis, detached house sales were down 6.7% in Western Australia, 5.8% in South Australia and 5.4% in New South Wales.</span></p>
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Current cycle peak concerns as new home sales down for first time in 2014: HIA

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<p><span style="line-height: 1.3em;">All experts surveyed by a rates comparison website have predicted that interest rates will stay on hold tomorrow.</span></p>
<p>In a survey conducted by <a href="https://www.finder.com.au/" target="_blank">Finder.com.au</a>, 18 expert respondents believed the Reserve Bank of Australia (RBA) will keep the overnight cash rate at its record low of 2.50 for July.</p>
<p>Of the respondents, 11 predicted that rates will rise in the next 12 months. Six experts – from Commonwealth Bank, Commsec, AMP, HSBC, St George Bank and Urbis – stated that interest rates could begin picking up before the end of the year.</p>
<p>The cash rate will stay on hold for this year, rising in the second half of next year, according to experts from Heritage Bank, RAMS, AAP and Westpac.</p>
<p>With almost all predicting an eventual rise, treasurer of ING Direct Michael Wills was the only respondent who argued that the cash rate could either increase or decrease at its next move, believing there were convincing cases for each scenario.</p>
<p class="Normal1">Analysis and research firm BIS Shrapnel, who did not participate in the survey, expect rates to stay on hold until an increase in 2015, anticipating a subsequent decrease in demand for off the plan properties.</p>
<p>“The expected tightening in interest rate policy is forecast to have an impact on off-the-plan purchasers,” wrote BIS Shrapnel in a statement last month.</p>
<p>“The first rises in interest rates are anticipated around the middle of 2015, with interest rates expected to reach their peak towards the end of 2016, thereby dampening demand over the subsequent years, and causing both new apartment approvals to decline and prices to weaken.”</p>
<p>According to Michelle Hutchison, Money Expert at Finder, borrowers must begin planning for a future rate rise.</p>
<p class="Normal1">“It looks like we have well and truly hit the bottom of the cash rate cycle and interest rates are set to climb within the next 12 months, with only one of the 18 experts in our survey (ING Direct) was unsure of which direction the next rate move will be,” said Hutchison.</p>
<p class="Normal1">“According to the Australian Bureau of Statistics, over 70% of households have some form of debt such as a home loan, credit card, personal or business loans or unpaid bills. So regardless of whether the next cash rate rise will be this year or next, it’s likely that most households across Australia will be hit hard and need to start planning ahead before it’s too late.”</p>
<p class="Normal1">Using ABS Housing Finance data, the comparison website has found Australians are increasing their debt levels in the housing market. The average home loan size has increased by 64% since 2004 to $314,000. The average size of fixed home loans has increased by 97% over the last decade, to $327,000.</p>
<p class="Normal1">For first home buyers, the average loan size has risen by 50% to $301,000.</p>
<p class="Normal1"><span>“With average home loan sizes among the highest we’ve ever seen, it’s a real concern that many borrowers will struggle with bigger interest rates," said Hutchison.</span></p>
<p class="Normal1"><span>“If the cash rate reaches average levels of the past decade of about 5 percent and home loan interest rates follow to an average of about 7 percent, that would cost the average home loan of $318,000 an extra $345 per month or over $4,000 in a year."</span></p>
<p class="Normal1"><span>“Everything you can do now to pay down your debts as much as possible will reduce the impact of rising interest rates in the near future,” she said.</span></p>
<p class="Normal1"><em>For the experts' predictions and commentary, go to the next page.</em></p>
<hr class="system-pagebreak">
<p>The experts surveyed by Finder made the following predictions:</p>
<p><strong style="line-height: 1.3em;"><strong style="line-height: 1.3em;">Garry Shilson-Josling, AAP<br><br></strong></strong><span style="line-height: 1.3em;">"...The recovery will be slow so there's no need to put the brakes on with a rate rise just yet. The outlook is highly uncertain, but in the absence of a major global shock the RBA should start lifting rates again after a fairly long wait as the economy slowly gathers pace..." <br><br></span><span style="line-height: 1.3em;">Predicts rates will change: Late 2015</span></p>
<p><strong>Shane Oliver, </strong><strong>AMP </strong><em style="line-height: 1.3em;">   <br><br></em>"...The Reserve Bank has cut interest rates to record lows...to boost the rest of the economy, and there's spectative evidence that it's working, but it's still tentative... The most recent budget has had a negative impact on confidence, and that's thrown a bit of a spanner in the works..."<br><br><span style="line-height: 1.3em;">Predicts rates will change:  Late this year or early next year</span></p>
<p style="line-height: 1.3em;"><strong>Warren Hogan, ANZ</strong><em style="line-height: 1.3em;"> <br></em><br>"The economy is playing out as expected ... essentially monetary policy is set to remain on hold for an extended period of time."</p>
<p style="line-height: 1.3em;">Predicts rates will change: Next year, possibly first half of 2015.</p>
<p style="line-height: 1.3em;"><strong>Steven Pambris, </strong><span style="line-height: 1.3em;"><strong>Bank of Sydney</strong> <br><br>"...The measures announced in the budget were as per our expectations with contractionary impact already reflected in the drop of consumer confidence in the latest surveys. We see that the current record low interest rates will have to continue for some time and in line with our previous position do not expect any movement in rates in 2014, if any more likely in March 2015" <br><br>Predicts rates will change: March 2015</span></p>
<p style="line-height: 1.3em;"><strong>Michael Blythe, </strong><span style="line-height: 1.3em;"><strong>CBA <br><br></strong>"The economy appears to be improving, but there's still a lot of uncertainty of course so it's the RBA's preference to wait and see what happens..." <br><br>Predicts rates will change: November 2014</span></p>
<p style="line-height: 1.3em;"><strong>Craig James, </strong><strong>Commsec<br><br></strong>"...At the end of the day, the Reserve Bank wants to keep inflation between 2.03%... As each month passes it does appear clear the Reserve Bank wants interest rates to remain where they are for a long period of time..." <br><br>Predicts rates will change: November/December 2014, maybe early 2015</p>
<p style="line-height: 1.3em;"><strong>Don Magin, </strong><span style="line-height: 1.3em;"><strong>Greater Building Society<br><br></strong>"...There is no sign of inflation. The RBA will be particularly concerned about pressure on capital expenditure. The good GDP growth we saw in 2012, based on investment by the mining sector, has subsided..." <br><br>Predicts rates will change: Mid-2015</span></p>
<p style="line-height: 1.3em;"><strong>Paul Williams, </strong><span style="line-height: 1.3em;"><strong>Heritage Bank<br><br></strong>"The RBA appears happy with current rate settings while the domestic economy tries to build some momentum. The RBA will be keeping an eye on the trends in unemployment, the strength of the Australian dollar, inflation levels, developments in key offshore economies, as well as rising tensions in the Middle East..."  <br><br>Predicts rates will change: Well into 2015</span></p>
<p style="line-height: 1.3em;"><strong>Paul Bloxham, </strong><span style="line-height: 1.3em;"><strong>HSBC</strong><br><br>"...Economic growth is still underway and interest rates will remain at record lows – which is where they are now."<br><br>Predicts rates will change: Around the end of the year, around Q4</span></p>
<p style="line-height: 1.3em;"><strong>Michael Wills, </strong><span style="line-height: 1.3em;"><strong>ING Direct<br><br></strong>"...It is difficult to see a scenario in which the RBA would change the cash rate... Equally compelling scenarios can be constructed to support both an increase and a decrease in the cash rate... Rates are on hold for an extended period that could extend into the first quarter of 2015."<br><br>Predicts rates will change: Could extend into the first quarter of 2015</span></p>
<p style="line-height: 1.3em;"><strong>John Caelli, ME Bank<br><br></strong>"...Growth remains moderate and consumer confidence has taken a hit following the Federal Budget. The uncertainty over the Budget process will cloud the outlook for a period of time. The next likely rate change will be in the first half of 2015 and is likely to be up." <br><br>Predicts rates will change: First half of 2015</p>
<p><strong style="line-height: 1.3em;">Glenn Levine, Moody’s Analytics</strong><br style="line-height: 1.3em;"><br style="line-height: 1.3em;"><span style="line-height: 1.3em;"> "...Inflation is within target and the economy is expanding slightly below potential... Tepid wage growth and a slightly looser labour market will help to keep inflation within target... The next move will likely be an interest rate increase around the middle of 2015 as we expect certain parts of the economy to be bumping up against capacity constraints by this time." </span><br style="line-height: 1.3em;"><br style="line-height: 1.3em;"><span style="line-height: 1.3em;">Predicts rates will change: Mid-2015</span></p>
<p style="line-height: 1.3em;"><strong>Jonathan Chancellor, </strong><span style="line-height: 1.3em;"><strong>Property Observer<br><br></strong>"...I still think the next rate change won't be until 2015, although the RBA historically likes to surprise. Let's see how the federal budget aftermath works it way through the economy after the new Senate in July takes effect. Consumer sentiment is still at its lowest level in almost three years..."</span></p>
<p style="line-height: 1.3em;">Predicts rates will change: 2015</p>
<p style="line-height: 1.3em;"><strong>Nathan McMullen, RAMS </strong><em style="line-height: 1.3em;"><strong>  </strong><br><br></em> "...Monetary policy settings remain mildly expansionary relative to long run averages and are appropriate given the current outlook for inflation... We continue to expect the RBA to keep interest rates on hold through the remainder of 2014 and much of 2015."<br><br>Predicts rates will change: Q4 2015</p>
<p style="line-height: 1.3em;"><strong>Janu Chan, </strong><span style="line-height: 1.3em;"><strong>St. George Bank<br><br></strong>"...On the one hand interest rates are quite low, and they are helping to support the economy, but at the same time there are some risks on the horizon... The strong growth that we saw in Q1... We'll not be sustaining that momentum in Q2..." <br><br>Predicts rates will change: November of this year, but this could be delayed until early 2015.</span></p>
<p style="line-height: 1.3em;"><strong>Scott Haslem, UBS<br><br></strong>"...We're seeing signs of improvement within the non-mining economy. The overall outlook for the economy is contained... The economy is not showing enough improvement for concerns of inflation..."<br><br>Predicts rates will change: Not until 2015</p>
<p style="line-height: 1.3em;"><strong>Nicki Hutley, Urbis</strong><br><br>"...A solid first quarter economic performance is likely to be followed by a bit of a stumble in the second quarter of 2014, on the back of weaker consumer confidence and demand following the Federal Budget... The RBA will want maintain its watch and wait stance for at least another quarter..." <br><br>Predicts rates will change: Q4 2014</p>
<p style="line-height: 1.3em;"><strong>Bill Evans, </strong><span style="line-height: 1.3em;"><strong>Westpac <br><br></strong>"...The terms of trade will have fallen in Q1 while the AUD has remained stubbornly high. We retain our forecast for an improvement in the condition of non mining equipment investment from a contraction of 11.5% in 2013 to a modest lift in 2014 of 3.4%..."     <br><br>Predicts rates will change: Third quarter of 2015, with a 25 basis point hike in both the September and December quarters</span></p>
</body></html>

Experts predict RBA will keep rates on hold for July: Finder

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<p><span style="line-height: 1.3em;">While Channel Seven’s <em>House Rules</em> would have us believe that the contestants are the typical Aussie battlers, some argue that their property portfolios say otherwise.</span></p>
<p>Doubts over the accuracy of the contestants’ portrayal on the show began after <em>Woman’s Day </em>reported that five of the six couples owned at least one other investment property.</p>
<p>Western Australian couple Russell and Carole have attracted the lion’s share of the criticism, with reports that the have a $2.3 million property portfolio. Among their assets is <a href="https://mandurah.harcourts.com.au/Property/560898/WMU22784/14-Leisure-Way" target="_blank">this three bedroom Halls Head home</a>, selling through Harcourts Mandurah.</p>
<p>The canal front home is currently listed for $1.17 million, and is described as without doubt one of Mandurah's iconic waterfront homes,” by selling agent Clare Seamer, who notes that the “sellers are keen to sell as is with all of the furnishings included.”</p>
<p><img src="/images/2014/06/27/3.jpg" alt=""></p>
<p>The house has an outdoor woodfire pizza oven in its al fresco dining area, its own private jetty and a spa bath.</p>
<p><img src="/images/2014/06/27/3.jpg" alt=""></p>
<p>Russell and Carole, whose names both appear on the title documents, purchased the home in June 2012 for $1,100,000. It’s been on the market since early April, just before the couple made their television debut. The property was advertised to rent for $750 per week in August 2012, with a yield of 3.55%</p>
<p>According to <em>Woman’s Day</em>, the couple are also part-owners of a $650,000 “luxury apartment”, while <em>The Daily Mail </em>reports that Russell is also listed as the owner of properties in Western Australia’s Boya, Ascot and Woodvale.</p>
<p>But <em>House Rules</em> host Joanna Griggs has called comments that the contestants aren’t battlers “utter bollocks”.</p>
<p>The host took to radio station WSFM 107.1 to defend the teams, saying apartment identified by <em>Woman’s Day </em>was “the apartment Channel Seven put them in during the course of the filming when they’re not allowed in their homes”.</p>
<p><em>Woman’s Day </em>also reports that Candy and Ryan don’t actually live in the house that was renovated for House Rules, according to neighbours. The show’s rules don’t require contestants to only own one property, but the property that is renovated must be their primary residence. Ryan, who has split from Candy since filming the show, also reportedly owns another house in the same Western Sydney suburb.</p>
<p>Townsville team Maddi and Lloyd also own two homes, according to the magazine, with their property portfolio valued at $940,000. South Australians Mel and Bomber reportedly have three homes between them. The magazine estimates that Bomber’s other home is worth around $400,000, while Mel also has a home in Adelaide.</p>
<p><em>Woman’s Day </em>claims that Melbourne couple Lisa and Adam have a $520,000 four bedroom house outside Melbourne’s CBD, bringing their property holdings to $1.2 million. Griggs says that house was purchased by Adam with his father, but that Adam sold his share of the property when he purchased the house seen on the show.</p>
<p>Meanwhile, it seems that eliminated contestants Brooke and Grant, at times portrayed as the villains of the series, are the only couple without other property holdings. The farmstead that houses their seven children appears to be the couple’s only residence. </p>
<p>While Channel Seven has released <a href="/expert-insights/building/channel-7-s-house-rules-the-contestants-and-their-mortgages">the mortgages associated</a> with the homes renovated on the show, it is unclear how much debt is attached to the contestant's other properties. </p>
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House Rules contestants hardly on struggle street, say critics

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<p>With the end of the financial year on our doorstep, tax deductions are on everyone’s mind.</p>
<p>If you own an investment property, depreciation is one of the major tax deductions available to you. As your property wears out, you can claim that loss against your taxable income.</p>
<p>Depreciation claims change the amount of tax property investors need to pay on their income. So if your income tax rate is 37 cents to the dollar, and you make a $10,000 deduction on your investment property, you can get $3,700 cash back at the end of the financial year.</p>
<p>Although all property investors hope that their property will increase in value over time, depreciation refers to the physical condition of the materials on that property.</p>
<p>Brad Beer, managing director of BMT Tax Depreciation, explains that depreciation can be applied to any investment property that’s being used for income producing purposes.</p>
<p>“The only thing that’s excluded really is your principal place of residence, because it’s not an investment property,” he says. According to Beer, around 80% of investors are not maximising their depreciation deductions.</p>
<p>Some people believe that depreciation can only be claimed on new properties, where the materials may degrade more quickly. However, Beer explains that this isn’t the case.</p>
<p>“Old property definitely still gets depreciation,” he says.  “It doesn’t get as much, it doesn’t last as long. But there is still depreciation there. We should be able to look at it, and ask a few questions about your property, to see if there are any deductions there and it’s worth going through the exercise.</p>
<p>“The age of the property does matter, for certain reasons, for what you’re going to be able to claim. But it’s not a ‘you get it or don’t get it’, it’s a ‘you get a bit more, or you get a bit less’ sort of situation.”</p>
<p>When owners renovate their investment property, there are two opportunities to claim depreciation – before the renovations, and after. Beer says that while many people recognise the need to claim depreciation on new items that they’ve installed – the new kitchen unit, or floorboards, they often forget the materials they’ve scrapped as part of their renovations.</p>
<p>“When you bought this property, if you were using it for rent, or for income producing purposes, you had some items in there that were helping to get that income,” says Beer.</p>
<p>“But if you throw them away before their life runs out, the rest of the value that’s left is potentially an instant deduction, all at once, rather than continuing to depreciate.”</p>
<p>The depreciation deductions available are estimated by a quantity surveyor, who prepares a depreciation schedule.</p>
<p>“A quantity surveyor estimates construction costs, traditionally,” says Beer.</p>
<p>“A tax office will accept the cost estimates of a quantity surveyor for the purpose of depreciation. We work alongside the accountant. The accountant doesn’t estimate construction costs, and therefore uses our numbers as part of the overall tax return, and we help to make sure it’s ATO compliant, and get the maximum deduction for the client.”</p>
<p>A quantity surveyor will visit your property and identify everything that is claimable, to maximise your deduction. As experts in depreciation, specialist quantity surveyors, are able to look the condition of a property and its items, with their costs, and assess the available deductions.</p>
<p>According to Beer, once a depreciation schedule is completed, another report is only necessary if  changes are made to the building.</p>
<p>“If you change what’s there, even if you throw away one dishwasher, and put a new dishwasher in, you’re kind of changing the depreciation a little bit,” he says.</p>
<p>“We don’t need to come and visit and look at one new dishwasher. But we may need to adjust the report and we can adjust your tax return.”</p>
<p>For investors who are unsure whether the cost of engaging a quantity surveyor is worth the available depreciation deduction, especially on older properties, Beer recommends getting an estimate from a quantity surveyor before they visit the site, using photographs, estimates of the cost of items, and previous depreciation claims.</p>
<p>“A quantity surveyor should be able to give you a rule of thumb pretty easily on what sort of deductions should be there,” says Beer.</p>
<p>“And normally they should back their work after that, and go ‘If I can’t get some deductions, you shouldn’t have to pay for the report.’”</p>
<p>As accountants use depreciation reports when they’re preparing your taxes, it’s important to consult them about your quantity surveyor.</p>
<p>“By all means, have a discussion with your accountant before you ever engage with a quantity surveyor to do your depreciation schedule,” says Beer. Your accountant may be able to recommend a quantity surveyor to you, or show you examples of reports they’ve worked with before.</p>
<p>For those who have forgotten to claim depreciation in the past, or who have guessed the level of claimable depreciation rather than engaging a quantity surveyor, it is possible to back date your depreciation claims – to an extent. Amendments can be made to tax returns for the past two years, if you haven’t been maximising your depreciation claims. For more information on tax claims related to your investment property, see the <a href="https://www.ato.gov.au/uploadedFiles/Content/MEI/downloads/ind00342353n17290613.pdf" target="_blank">Australian Tax Office's website</a>. </p>
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Your guide to property depreciation

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<p>A 27 year old woman allegedly robbed a real estate agent at an open house in Surfers Paradise this weekend.</p>
<p>According to <em>The Courier Mail,</em> police allege Amy Lee Niwa, 27, of Carrara, attended an open home and pretended to be a buyer. After the real estate agent turned away to note her details, Niwa allegedly pulled out a handgun, making demands for his car keys and phone.</p>
<p>After taking the agent’s keys, the unlicensed driver allegedly went on a shopping spree. A police prosecutor reportedly said Niwa can be seen on CCTV footage from various stores driving into carparks in the stolen car and making purchases using a stolen credit card.</p>
<p>She allegedly spent almost $1000 over that afternoon at Billabong and Hot Brands stores, a bottleshop and a supermarket. Niwa was arrested two days later, after being reported by a member of the public.</p>
<p><em>The Courier Mail </em>reports that Niwa allegedly admitted to being armed with a 20 centimetre kitchen knife in a jacket sleeve, with a syringe and some methamphetamine, with the gun not yet found.</p>
<p>She is accused of committing 21 offences and was refused bail. She was reportedly remanded in custody and will return to court in August.</p>
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Woman allegedly commits armed robbery at open home

<p>National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.</p>

<p>Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373556]</p>

<p>The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.</p>

<p>Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.</p>

<p>"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.</p>

<p>"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.</p>

<p>"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373559]</p>

<p>Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.</p>

<p>The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373583]</p>

<p>Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.</p>

<p>Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373571]</p>

<p>Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.</p>

<p>Completion of Crest &amp; Walker is slated for late 2028.</p>

<p>[smartcode_project_cta:default project_id=145922]</p>


Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

<p>The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.</p>

<p>It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.</p>

<p>Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.</p>

<p>While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68833]</p>

<p>Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.</p>

<p>The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.</p>

<p>"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.</p>

<p>"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.</p>

<p>"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=360215]</p>

<p>One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.</p>

<p>"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.</p>

<p>While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.</p>

<p>"The size of the site is something that would be incredibly difficult to replicate today," she says.</p>

<p>"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68839]</p>

<p>There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.</p>

<p>As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.</p>

<p>"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.</p>

<p>A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.</p>

<p>The remaining apartments are ready to inspect in person, by appointment.</p>

<p>[smartcode_project_cta:default project_id=6515]</p>


A decade in the making: Residents to move into Chevron One as construction wraps up

<p>A general rule of thumb in new apartment developments is that the penthouses get the rooftop.</p>

<p>It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.</p>

<p><a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.</p>

<p>Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.</p>

<p>The philosophy has reached its most ambitious expression at <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> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374053]</p>

<p>"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.</p>

<p>"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.</p>

<p>"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374052]</p>

<p>The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.</p>

<p>Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=372547]</p>

<p>The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.</p>

<p>The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374054]</p>

<p>Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.</p>

<p>Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370962]</p>

<p>While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.</p>

<p>It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.</p>

<p>Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=366550]</p>

<p>That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.</p>

<p>Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

<p>As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.</p>

<p>At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=359199]</p>

<p>The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.</p>

<p>Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.</p>

<p>In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360299]</p>

<p>The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.</p>

<p>Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.</p>

<p>This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360300]</p>

<p>What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.</p>

<p>The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.</p>

<p>Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.</p>

<p>[smartcode_project_cta:default project_id=426]</p>


Elevated amenity anchors daily life at Aeris, Melrose Park

<p>Repeat buyers are one of the strongest measures of confidence in any apartment development.</p>

<p>At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.</p>

<p>Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe></p>

<p>"I had some boxes I wanted to tick," he says.</p>

<p>Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.</p>

<p>“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.</p>

<p>He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356818]</p>

<p>After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.</p>

<p>"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."</p>

<p>Today, Keith says the move has completely changed how he experiences Newcastle.</p>

<p>"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356828]</p>

<p>Beyond the location, he says it's the sense of community that has surprised him most.</p>

<p>"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."</p>

<p>For Aimee and Lyle Goodman, the journey started almost by chance.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe></p>

<p>The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.</p>

<p>"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."</p>

<p>As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.</p>

<p>"We actually catch up more as a family now," Aimee says.</p>

<p>"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356829]</p>

<p>Lyle says their confidence came from GWH's reputation within Newcastle's building industry.</p>

<p>"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."</p>

<p>That confidence only grew throughout the buying process.</p>

<p>"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=351104]</p>

<p>Aimee says one moment stood out.</p>

<p>"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."</p>

<p>The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.</p>

<p>Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356822]</p>

<p>ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;</p>

<p>The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356826]</p>

<p>For Keith, the appeal remains straightforward.</p>

<p>"You feel at home even before you've moved into your home."</p>

<p>For Aimee, the change is measured in time.</p>

<p>“I just felt like I had more time,” she says.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=351102]</p>

<p>Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.</p>

<p>ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.</p>

<p>[smartcode_project_cta:default project_id=135096]</p>


Jessie Richardson

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