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A $6,725,000 Gold Coast riverfront auction sale on the weekend has given top-end vendors reason to think there may have finally been a change for the better in the market.
Vendor Dan McVay bought the Admiralty Drive property in Paradise Waters for $5 million in 2006.
It was on the market at $5.85 million and sold well above its reserve through Michael Willems at Ray White. It’s a five-bedroom, seven-bathroom house on a 1,351-square-metre block. The house also comes with an office and six-car garage. There is a 12-metre enclosed swimming pool.
It is the most significant inland sale on the Gold Coast this year and of particular surprise because of the timing with global financial downturns last week.
The last comparable sale was a $6.75 million sale in 2008 also on Admiralty Drive.
Ray White Surfers Paradise held auctions last week for 24 properties, with 13 selling under the hammer.
Ray White principal Andrew Bell says there appears to be a return of buyer activity after several years of price correction.
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jchancellor-FAypfDUnLy

Paradise Waters auction could put wind in luxury market sales

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A Russian oligarch has reportedly purchased Britain's most expensive home – which was once owned by King George II's son – for an estimated price of £140 million.
The report of the sale has been accompanied by speculation over which oligarch had bought the 300-year-old country house set  in 81 hectares of land in Oxfordshire at Remenham on the Thames River at Henley. Political uncertainty has been viewed as a significant factor for the outflow of capital from Russia, amounting to £18.4?billion in the first four months of this year, a sizeable proportion having gone into foreign property.
The reports have homed in on a 54-year-old Russian steel tycoon Vladimir Lisin, with a fortune of £15 billion, as the possible buyer of Park Place from developer Michael Spink, who bought the estate 2007. At the time Park Place was a decaying country house set in 231 hectares that fetched £42 million – the highest figure ever paid in Britain for a house outside London at the time.
The Daily Mail reported that Spink spent around £100 million on the restoration and reconstruction of the Franco-Italianate mansion and estate.
The estate once belonged to Frederick, Prince of Wales, eldest son of George II, and was recently used in the remake of the film St Trinians.
It has two golf courses, 10 tenanted cottages and another eight in need of renovation. The home boasts 27 bedrooms.
Its £140 million price tag makes Park Place the UK's most expensive home, knocking One Hyde Park, London, off the top spot, which was sold for £136 million earlier this year, the report says.
Frederick Prince of Wales, the eldest son of George II, was ostracised from his father's court. His widow, Princess Augusta, decided to move and sold the property to General Henry Seymour Conway, who commissioned a series of large tunnels underneath the estate at the time of the French Revolution.
The mansion other owners have included the Earl of Malmesbury, the Greek shipping billionaire John Latsis and a local council, which ran it as a school.
Spink has retained more than 120 hectares for development
One of the near neighbours are the currency trading tycoon Urs Schwarzenbach who holds Riverina, New South Wales grazing properties, and his Sydney-born wife, Francesca Schwarzenbach-Mulhall, who paid £35 million for Culham Court, a Georgian mansion on 260 hectares at Henley-on-Thames.
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UK's most expensive home rumoured to have sold for £140 million

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With the crooks long gone, local home buyers outbid six other bidders with small business intentions when the former <a target="_blank" title="Surry Hills" href="/news">Surry Hills</a> police station sold at weekend auction in Sydney for $1.9 million.
The former Bourke Street police station and lockup dates back to 1895.
It was marketed as able to be reinvented as a boutique gallery, showroom, design studio or professional suites, but its 2B zoning invited residential dwelling opportunities.
Set under a slate-tiled roof, its original period details include soaring four-metre ceilings, a marble fireplace and timber floors.
It has been bought by Mona and Joe Tower, director of the bridge construction company Bridgeworks Australia, who recently sold their Bourke Street, Darlinghurst terrace through BresicWhitney agent Mark Foy for $920,000.
Four of the registered bidders put in bids during the auction through Raine &amp; Horne Newtown agent Michael Harris. It was announced on the market at $1.72 million under instructions of the NSW Department of Health.
The property sits diagonally opposite an 1890s house that was previously owned the late Abe Saffron, the Kings Cross nightclub identity.
The former police station premises is a single-storey brick and sandstone Federation Romanesque building with a façade that also combines Arts and Crafts design influences in its design by Walter Liberty Vernon.
Vernon’s career as government architect left about 30 of his works listed on the National Estate Register, including the Art Gallery of New South Wales and Central Railway Station.
Set on a rare level double block, it has been an alcohol and drug advisory centre since 1981, most recently as the AIDS Council of NSW Positive Living Centre.
NSW Health put the building up for sale when ACON recently moved to its Elizabeth Street premises, with the proceeds from the sale to be used to fund capital works within the South Eastern Sydney Local Health District.
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Heritage Sydney cop shop apprehended for almost $2 million

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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">BHP Billiton director Carolyn Hewson, recently ranked as Australia’s most influential female board director, has sold her Vaucluse house for $4.5 million. It had been her Sydney abode since she had paid $4.1 million in 2005. Its sale price reflected just 1.65% annual growth.  It has been bought by the Zhang family. 
Hewson was ranked as Australia’s most powerful female director in a recent Australian Financial Review survey given she has board seats on BHP Billiton, Westpac, Stockland and BT Investment Management. It is understood she has decided to rent in the Potts Point precinct.
<img src="/images/stories/monavale.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The resort-like Mona Vale beachfront residence of the veteran property developer Max Delmege and his wife, Narelle, has failed to sell on its third mortgagee auction marketing campaign. The house (pictured above) comes with $5 million-plus hopes  having failed to sell in October 2010 with $7 million hopes. The two-level Surfview Road house on an 870-square-metre block was constructed by the former Manly Warringah Sea Eagles powerbroker, who bought the block for $750,000 and rebuilt the house in 2009, after which it secured a $9 million valuation.
<img src="/images/stories/mortscottage.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The jeweller Robert Clerc has listed his much-expanded 1830s Double Bay residence (pictured above and below) for August 30 auction. Known as Mort’s Cottage, its expected to sell for about $6 million. It's one of Double Bay's earliest homes and is named after its longtime owner the pioneer pastoralist  entrepreneur Thomas Mort, a former lord mayor of Sydney. The original sandstone Gothic Revival-style house was actually built for tea dealer Samuel Peek, with Mort buying it in 1848.
It has been recently extended with a modern addition of glass and steel designed by Thomas Jacobsen architects. Set on the busy corner of Ocean Avenue and Cross Street, the residence has five bedrooms and three bathrooms. It last traded in 2005 at $3.02 million.
<img src="/images/stories/mortscottage2.jpg">
Title Tattle has been around long enough to remember that Mort’s Cottage was listed in late 1987 just as the stock market crashed, so was auctioned again in March 1988 with $900,000 hopes. It finally sold in 1989 when bought by Greg and Sandy Pearce for $1,225,000.
Clerc this week expressed confidence that he’d find a buyer in quick time. “I think our house is pretty special. It’s probably the oldest house in the eastern suburbs. I really believe it’s the right time to sell it,”  he told the Australian Financial Review. The convict-built house first sold for the equivalent of 53 pounds.
The land was originally bought for 26 pounds, five shillings by the ex-convict John Towell. In the late 1980s Mort’s Cottage was the subject of a book by Jill Buckland looking at Sydney society through the eyes of the men and women who owned the house. She wrote on John Tawell, the Quaker convict who arrived in Sydney as a convict in 1815 and left in 1838 in a blaze of glory with a fortune of 200,000 pounds. Back in England he poisoned an inconvenient mistress and died on the gallows in 1845, having been arrested at Paddington Station as a result of the despatch of a signal by the newly nstalled Electro Magnetic Telegraph.
<img src="/images/stories/howardsacre.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The Bellevue Hill home of Howard Sacre, the foreign correspondant with Channel Nine's 60 Minutes, and his wife, Margaret, has been sold pre-auction. The house (pictured above) had been listed with hopes of more than $3 million through Ballard Property agents Clint Ballard and Bill Bridges. Set close to Cooper Park, the Suttie Road property last traded for $1.9 million in 2001.
The Sacres' four-bedroom double-fronted residence has an elegant dining room and a living room with French doors opening to a veranda and large terraced garden with a pool. In 1992, Brisbane-born Sacre joined the Nine Network in Sydney as a producer with Mike Willesee before moving to 60 Minutes in 1994. The Sacres are downsizing.
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The author Helen Cummings has listed her house at The Hill, the Newcastle suburb. Cummings is the mother of US-based actress Sarah Wynter. Her six-year-old High Street house has been listed through Mike Flook of Robinson Property given her plans to move into a nearby apartment she has secured off-the-plan in the Grand Central building. Cummings recently published Blood Vows, the story of her earlier marriage to a violent doctor and the domestic abuse she suffered at his hands.
 
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<img src="/images/stories/gladesville.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Avondale, the Illingworth family's waterfront home in Gladesville (pictured above), remains listed for sale. Its had $6.5 million plus hopes through McGrath Hunters Hill agent Tracey Dixon on its initial April listing. Built in 1888, it was renovated in 1993 and 2009. Set on 2,141 square metres, the riverfront property comes with vast lawns that roll down to a private sandy beach with views across Looking Glass Bay.
The grandly proportioned Victorian residence was built by Edwin Sandys Lumsdaine, the husband of Banjo Paterson's sister, Rose Florence Paterson. Edwin, a solicitor, was the son of Reverend William Lumsdaine, the rector of Christ Church, Gladesville. Being religious, Edwin had a small chapel built within the house which is now used as a study.  In full view from this property is an 1830s sandstone cottage, Rockend which was the home of Banjo Paterson's grandmother and as a young man, the iconic bush poet lived there with her. The highest recorded house price in Gladesville was $6.1 million for another Wharf Road house in February 2008.
<img src="/images/stories/peppermintgrove.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Title Tattle aims to tell you as soon as its known - and sometimes before - so the word from Perth is that The Cliffe (pictured above), one of the first residential dwellings built in the Perth suburb of Peppermint Grove, is to be sold this spring. The Bindaring Parade bungalow that dates back to the 1890s has been through the heritage hoops for most of the time of its ownership by mining entreprenuer Mark Creasy.
The original owner of The Cliffe was Neil McNeil, who purchased the land in 1892 - only one year after Peppermint Grove was surveyed into building allotments. McNeil was one of the owners of the Jarrahdale Timber Company, which exported timber for the paving of London Streets. In 1995 following a petition from residents the Heritage Council of Western Australia issued a conservation order under Section 59 of the Heritage of Western Australia Act 1990. Just days later it was sold to the Creasy family for $2.7 million. They have contested the listing for nine years.
The Creasys have estimated that the dispute has cost them $225,000 in legal fees and claim that the house is now uninhabitable, estimating it would cost at least $2.8 million to make it liveable and much more to renovate it completely. Offers are due by September 9 with Chris Shellabear at Shellabears.
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">And don't say Title Tattle told you, but it was headhunter Julia Ross who last year knocked back a $40 million plus offer for her Point Piper non-waterfront. The matter was alluded to in the local press last weekend with Bill Malouf from LJ Hooker Double Bay spilling only a few details, but not the stay-put vendor's name. Malouf of course was responsible for the $53 million sale just across Wolseley Road when he sold Villa Venuto, a five-storey waterfront mansion.
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BHP Billiton's Carolyn Hewson sells up in Vaucluse: Title Tattle

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The Western Australian property developer Warren Anderson has commenced proceedings to overturn his recent bankruptcy and thereby seeking to avoid or delay eviction from his sprawling Fern Hill estate on the outskirts of Sydney.
Anderson says he is a tenant at Fern Hill paying a $479,000 annual rent.
A Federal Court hearing has been scheduled for September 5, according to the Australian Financial Review. 
The outcome of the hearing will determine how long he can remain at the colonial estate, which is currently listed for sale by receivers of the Anderson family trust through Colliers International. 
Anderson is arguing the June bankruptcy was based on an "invalid personal guarantee."
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Warren Anderson seeks to overturn bankruptcy and stay put

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Retired car dealer Laurie Sutton has relisted his Mosman harbourfront residence, which has been his home for the 34 years since it was bought from the Pick a Box presenters Bob and Dolly Dyer.
It last sold in 1977 for $376,960, when the Dyers headed to Queensland and sold to the Sutton family. Sutton hopes to secure $20 million for it.
The Bay Street tropical holding is like Hawaii meets Hamilton Island on Middle Harbour and despite renovations over the past three decades, there are still traces of the Dyers' day, including the imposing sandstone fireplace in its living room that overlooks Quakers Hat Bay.
But the teeth and jawbone of the couple's world-record 1062-kilogram great white shark catch that hung above the fireplace has long gone. As have the Dyers' cruisers, Tennessee I, II and III, along with Bob’s imported American car with the BOB 000 numberplates.
The property is Mosman's largest waterfront estate, on 5,154 square metres. Dyer, who was a hillbilly Tennessee vaudeville singer on his arrival in Australia in 1937, had paid £15,068 for the property in 1950, after upgrading from a house on the Balmoral side of Mosman.
Dyer had just signed a $33,000-a-year contract for his radio shows, which the newspapers reported was 11 times the salary of the then NSW premier, James McGirr. Dyer went on to host the television show BP Pick a Box between 1957 and his retirement in 1971.
Dyer, with his raucous "Howdy, customers" greeting, presided over contestants who faced a sudden-death decision of choosing between "the money or the box" with the secret prize.
He died in 1984. His widow – who, as Dolly Mack, had been a Sydney Tivoli showgirl in her teens – lived for another 20 years.
The listing in 2009 had expectations of beating Mosman's $22.5 million house price record.
The property developer Albert Bertini and his former wife, Heather, hold the record for a Mosman purchase, paying $22.5 million for Karawa on the Balmoral cliffs in 2007. They bought the estate from the property investor Phil Arnold. Albert Bertini created and runs Trivest, a property development company with holdings worth $400 million.
Karawa's sale beat the previous record for a Mosman house by more than $7 million.
Phil Arnold had bought the house in Hopetoun Avenue for $380,000 from Lady (Delzie) Hooker, the widow of the real estate tycoon Sir Leslie Hooker, in 1980.
After he paid £3,050 for the property in 1940 Leslie Hooker built a three-level 1950s house with boatshed.
The average Mosman house price has stood at $2.15 million for the past year, according to RP Data.
The Sutton property comes with approved plans for a replacement three-storey residence.
The vendors raised their family there and now entertain their grandchildren.
“It’s an estate for a young family to enjoy and make full use of all the gardens and facilities,” says Laurie Sutton.
“My children played cricket on the lawn and had many parties on the flood-lit tennis court and pool.
“It was the place where all the family’s  friends would hang out, which is the way I liked it.
“It is a very private place” says Laurie.
“Once inside the gates, you are away from the rest of the world whilst the grounds are enormous they are fully fenced and secured and very dog friendly”.
The listing agent agent Sandie Dunne says its rare to find a property of this size and calibre.
“Most others have been chopped up into smaller sub-divisions.
“It really is a family resort with every conceivable facility you could think of – tennis, cricket, sailing or just lazing around the pool; it’s just magical.”


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Its marketing campaign comes at a tricky time for Mosman in the wake of the latest stock market turmoil.
The municipality has been among the hardest-hit by the initial 2008 global financial crisis given its strong reliance on buyers from the financial services industry.
The softness in its market was beginning to turn around during the past few months with an increased number of pre-auction sales along with a reduction in the overhang of stale stock.
A Cross Street mansion sold to a former Macquarie Bank buyer pre-auction through Belle Property.
A Noble Street house sold this week for $3.2 million, two weeks before its scheduled LJ Hooker auction.
Some four sales on Prince Albert Street have been secured in the past few months.
The winter months over the past three years have typically yielded about 90 house sales, according to Clinton McNabb, a research analyst at Australian Property Monitors.
So far there are about 45 sales, so the final settled numbers ought to mirror the recent path.
The bulk of the sales are not at the pointy premium end of the Mosman market which is still overwhelmed by silent listings. Two double-digit million-plus sales have been recorded to give some hope to the top-end vendors.
One premium listing with $20-million plus hopes has been publicly market through Dunne Real Estate agent Sandie Dunne at the eastern end of Mosman on Parrawi Road.
Dunne has indicated there had been some tentative buyer interest from Chinese buyers, although this has yet to come to fruition.
"We are very focused on marketing to Chinese buyers," says Dunne, who is working with buyers agents linked to the community.
It’s the stark white Mosman landmark called the George Williamson House but colloquially known as the igloo house.
Following its design by architect Harry Seidler in 1951, the Modernist Parriwi Road property caused traffic mayhem as Sydneysiders sought to get a glimpse.
It was saved from demolition in the late 1990s and heritage-listed in 2002. It now comes with approved extensions and a new harbourfront wing overseen by the Seidler architectural practice, which was commissioned by the current vendors, Ian and Tanya Oatley.
The recent $8 million Ingleside acreage sale in Sydney was secured through a buyers’ agent from a Chinatown, Sydney agency rather than a local northern beaches agency.
Optimistic estate agents might claim that Chinese buyers are underpinning the market, but the realist would say they are cherry-picking the best offerings.
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Mosmanites playing property pick a box with caution 

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Seven regions across Australia – all with coastal strips and national parks – have been found to account for 21% of total Australian tourism expenditure, according to Tourism Research Australia.
Three of the seven are in Queensland with the Gold Coast, Sunshine Coast and Tropical North Queensland.
NSW had the Mid-North Coast, the Northern Rivers and South Coast. There was also the South West of Western Australia.
The economic importance of tourism in these regions ranged from 4.8% of income for their local economies from tourism the WA South West to 9.7% in Tropical North Queensland.
Tourism Research Australia is a branch of the Department of Resources, Energy and Tourism, which has 77 defined tourism regions across Australia derived from data collected in the National Visitor Survey and the International Visitor Survey.
The dominant attractions across the seven major regions revolve around the beach and/or the nature experiences offered.
The number of accommodation establishments within the regions ranges from 147 in Western Australia’s South West to 260 in the Mid-North Coast. The typical tourism region has 93 accommodation establishments.
The Northern Rivers is among the most accessible destinations, with three domestic airports in the region servicing 83 flights to and from Sydney and 20 flights to and from Melbourne per week. and Gold Coast Airport is less than five minutes from the region.
The result was a diverse range of domestic visitor origins when compared with the other regions. Its international market has heavily focused on European tourists, with 30% from the UK, 11% from Germany and 29% from other European nations, with a significant backpacker market.
The Northern Rivers is a region where visitors do not spend long periods of time, with 91% of domestic visitors spending a week or less and 30% just one night.
However, it is a region where domestic visitors travel repeatedly, with 78% having previously visited Northern Rivers.
The NSW South Coast has a very large and important domestic visitor market, where domestic visitors outnumber international visitors 69 to one.
The South Coast does have a high proportion of repeat domestic visitors (77%), most of whom come from Sydney.
The breakdown of accommodation type varies markedly across the regions.
With the exception of the Gold Coast, these regions are highly seasonal, with most the domestic peak season occurring in the March quarter, corresponding with the summer holiday period.
A difference occurs in Tropical North Queensland, where the peak occurs in their dry season, which corresponds with the September quarter.
International peak seasons are very similar to domestic, with the Sunshine Coast changing from a March to September quarter peak, and Australia’s South West summer peak shifting to the December quarter.
The Gold Coast ranks as the fourth largest tourism region in Australia by tourism expenditure, behind Sydney, Melbourne and Brisbane.
Domestic visitors, nights and expenditure outnumber the international figures. In 2010, 11% of tourism expenditure in regional Australia (including the Gold Coast) was from international visitors.
Within the seven regions the contribution of international visitors was highest in Tropical North Queensland, with 32% of expenditure from international visitors, and the Gold Coast (21%)
Similar to the national regional benchmark were the Northern Rivers and the Sunshine Coast at 11%.
The lowest international spend was in the South Coast (9%), Western Australia’s South West (8%) and the Mid-North Coast (3%).
Tourism Research Australia notes the trends in both domestic and international visitors have been similar across the regions, with a general decline in domestic visitors over the past decade, while outbound travel by Australians increased significantly.
Between 1999 and 2010 the average annual growth in domestic visitors ranged from 0.2% per year increase in Tropical North Queensland to 1.8% per year in the South Coast.
This is compared with a decline of 0.7% per year nationally and 1% per year in regional Australia excluding capital cities.
Visitor nights decreased across the board from between 0.3% per year in Tropical North Queensland to 1.7% per year in the South Coast.
In contrast, outbound travel increased, on average, by 8.5% per year between 2004 and 2010, with outbound travel to Indonesia increasing at a rate of 13.9% per year and Fiji at 10.2% per year.
Between 1999 and 2010 average annual growth in international visitors was positive for all regions except Tropical North Queensland, Gold Coast and Mid-North Coast (declines of 1%, 0.6% and 0.3% per year respectively).
This compared with increases both nationally (2.5% per year) and regionally (0.7% per year).
International visitor nights increased across the board, ranging from 0.5% per year in Tropical North Queensland to 7.1% per year in Australia’s South West. This compares with 5.7% nationally.
The only region not on the east coast of Australia, Western Australia’s South West, provides some valuable insights through its different geographical location.
With regional tourism expenditure of $881 million, 1.6 million visitors and 7.1 million visitor nights, Western Australia’s South West is one of the smaller regions ranking sixth out of the seven regions.
It is also the least economically dependent on tourism out of the seven regions, which can be attributed partly to the presence of the mining industry in the region.
Contributing to its size is the fact that it has the fewest accommodation establishments and tourism businesses.
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One-tenth of tourism regions make up 21% of expenditure

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Office space in the revamped 1952 Museum of Contemporary Art building with views over the Sydney Harbour Bridge and the Opera House has become available for lease.
It’s the first time the opportunity to secure the offices in the past decade within the iconic MCA building at 140 George Street, The Rocks.
The MCA is currently undergoing an expansion with an adjoining $53 million new wing redevelopment.
“The leasing offering includes whole floors of approximately 882 square metres or part floors of approximately 420 square metres,” Ray White commercial leasing director Jeremy Piggin says. His fellow leasing director Anthony Harris says the rentals will start from $800 per square metre gross.
The Art Deco-style MCA building was opened in 1952 and for 37 years was the home of the Maritime Services Board.
The building was given to the MCA by the NSW government in 1989 when the MSB moved to larger premises.
Piggin said tenants also had the potential to secure a corporate relationship with the MCA and its function venues.
The MCA refurbishment is due to be completed later this year.
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Office space in Sydney's MCA building available for first time in 10 years

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{yoogallery src=[images/stories/august12mcmanus]}
Event promoter Andrew McManus didn’t get the right audience when his <a target="_blank" href="/news" title="Toorak">Toorak </a>mansion went to mid-week onsite auction. Marshall White auctioneer Justin Long accepted a $9.8 million opening bid, and then placed an $11 million vendor bid given the audience participation had concluded.
The house last sold in 2008 mid-construction for $8.75 million.
The six-bedroom, six-bathroom house, with a seven car garage, had been initially commissioned for construction in 2007 by David Fox, the youngest son of trucking magnate Lindsay Fox, who sold before the property was completed.
The house now includes a study, gym, home theatre, billiards room and several outdoor entertainment areas, including a cabana and pool on its 1,389-square-metre block.
Bennison Mackinnon Armadale's Nathan Waterson was marketing the Myoora Road property in conjunction with Marshall White.
Long indicated there had been several $11 million-plus offers previously put to the vendor. The property now has price hopes of $13 million.
Long gave the crowd of about 30 an estimated $6.5 million current land value and suggested something like $9 million would be its replacement cost in 2014 dollars.
Prospective buyers had inspected the property up to four times before the auction.
The director of Andrew McManus Presents is said to have dodged the brief global financial crisis property downturn in 2008, after selling his former Orrong Road, Toorak, estate for $13.5 million having paid about $6 million in 2004.
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Concert promoter Andrew McManus' auction hits off note

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Households are observing a softer jobs market and are increasingly worried about the outlook for jobs, according to a Westpac survey that preceded the unemployment rate rising from 4.9% to 5.1% today.
The level of unemployment anxiety gives a strong signal that households are already under duress and that a rate hike based on domestic fundamentals is not called for, the Westpac economic update suggests.
The level of expectations of higher unemployment is now 34% higher than a year earlier.
Until this month it was the labourers and machinery operators who were the most worried about jobs.
However sales and clerical staff became the most worried in August.
‘It’s a very interesting shift.
“We have been hearing reports that retailers and the finance sector may be looking at reducing staff give the current soft patch in consumer demand.
“We wonder if this survey is providing us with the first clue that job shedding in these sectors may now be underway,” the report notes.
Rismark International economist Christopher Joye says with the unemployment rate rise and Westpac-Melbourne Institute inflation expectations declining, a lot of pressure will have been relieved from the RBA viz-a-vis hikes.
“The Aussie dollar has also declined by 9% at its current price of 1.015 from the high of over 1.10.
“Taking the average daily AUD/USD cross since the end of March, the Aussie dollar is down 5%.
“According to the RBA's research, this is akin to almost a full rate cut, all other things being equal.
“The yield curve will continue to invert, which means we should see lower fixed-rate home loans offered by the banks, albeit with the cost of lower term deposit rates for those net savers out there,” Joye says.
“Some fixed-rate loans are down by as much as two rate cuts, or 0.60 percentage points.
“Many will argue that official RBA rates should be going down, while the more sensible heads will probably conclude that the RBA can wait until the next inflation print in late October.
Its great news for all borrowers and the housing market especially, which is the most interest rate sensitive sector of the economy,” Joye says.
The report notes a moderation in inflationary expectations with the inflationary pulse from the food price shocks of early this year passing.
“Households are telling us they are not experiencing the same inflationary pressures as they were even just a few months ago,” it notes.
Mark Bouris, the founder of the wealth management group, Yellow Bridge Road, noted that the Reserve Bank of Australia had maintained their position on rates, citing low unemployment numbers as a key factor in keeping rates at bay or even raising them.
“But with job losses and lack of offers on the increase, low unemployment is no longer a valid argument.
“I’ve been appealing to the RBA for months and today’s figures show that the RBA needs to cut rates in September to save mortgage holders and hardworking Aussies from falling into further financial disrepair,” Bouris says.
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Sales and clerical staff worrying about their jobs

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Joel Robinson

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<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/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

Jonathan Chancellor

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