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GUEST OBSERVER
Having been a lawyer looking after farmers and graziers for almost 40 years, I have focused on the future of family farms all my professional life – indeed, my practice and those of the other lawyers in our Agribusiness team depends upon it.
The issues facing agriculture in Australia are well known – droughts, floods, fire, depressed prices, labour shortages, too much debt, government interference (tree clearing and live export bans to name but two), declining terms of trade, the high Australian dollar, the average age of our primary producers etc etc.
As a general observation, while undoubtedly the average age of our primary producers is high, the next generation are well placed to capitalise on the world's increasing need for protein and Asia's growing prosperity – they are technologically savvy and have access to resources, training etc (that their forebears could only look upon with envy) to ensure that the farms of the future will be sustainable both financially and environmentally.
I was asked a few years ago what I thought was the biggest issue facing primary producers and my considered response was "lack of communication". Farmers and graziers are, by their very nature, stoics – they have to be to cope with the myriad of challenges thrown at them. They know how to "tighten their belts" in bad times and battle through.
Producers though, in my experience, largely do not communicate about issues worrying them – droughts, debts, relationship issues, mental illness etc. These issues and the lack of communication particularly come to the forefront when we are addressing succession planning for family partnerships. My view, until recently, was that such partnerships have limited lives as the next generation takes up the "family farm".
My view though has changed and I was intrigued to read an article in Beef Central some time ago about two Mallee grain growers and their venture into "collaborative farming".
These two farmers started with a blank canvas and designed the ideal farm for their area. They worked with no preconceptions or restrictions and focused only on what mix of land, plant and labour would be required to create the most efficient and profitable farming business for their area.
They have combined their assets and skill base with a corporate focus that has enabled them to achieve a high level of scale, efficiency, profitability and flexibility that simply would not have been possible if they had remained as individual farming units.
Irrespective of what industry or profession you are in, it is an ever competitive and challenging business environment out there, and we all (lawyers included) have to look at ways to drive efficiencies, reduce costs and to ensure the business models are sustainable.
At Thynne + Macartney, for example, many of our lawyers now work remotely, reducing our need for high cost premises and allowing us to consolidate on a smaller floor plate. We also recognise the different strengths of our people and although we are still a legal partnership, we have moved to a corporate management model.
Having been raised in Mitchell on a property consisting of any number of 160 acre blocks carved up after World War 1 for soldier settlements, and in a wool growing era where adjoining properties all had their own woolsheds and supporting infrastructure, I can see opportunities for our farmers and graziers in "collaborative farming".
The basic idea is that you look to others in your or related industries and put yourselves into businesses where you add the most value and be more profitable. A breeder operation, for example, can form a business partnership with the operators of a backgrounding block (and in turn, the operators of a fattening block / feedlot) where resources (whether it be land, manpower, plant, livestock or whatever) can be applied to best advantage to make the combined operation more flexible and profitable than the individual operations could ever hope to be.
As has been said before, "it's not rocket science".
One of the Mallee farmers, John Gladigau, is said to have identified seven core principles for "collaborative farming":
Be strategic – Start off with a blank piece of paper and design your future.
Differentiate between agribusiness and real estate – Most farmers and graziers run two enterprises: a real estate business and an operations business – both have to get a return. Arguably some of our large operators in the beef industry are grappling with this issue.
Use resources efficiently (machinery, labour and infrastructure).
Create cells and replicate them, ie a scalable unit as the most efficient mix of land, machinery, infrastructure etc.
Create an environment of "win-win"– Win-win relationships need to be built between all of the stakeholders throughout the businesses.
Engage specialist services – The days of being a master of all trades (if they ever existed) are well and truly over. Recognise your limitations. There are areas where you need to bring in others because of their different skill set.
An independent voice is needed – Recognise that personalities, especially in a collaborative business where families are brought together, can destroy the business. The one essential element is to have an independent voice. Look at the corporate world where it is common to have an independent chair / directors on the board.
How then do we establish a "collaborative farm"? The key issue here is that "there is no model, there are no rules". You need to create a business that works for you and your partners. Having said that, the basic template is to set up a new company, put the various properties together, lease the properties and plant and sell your livestock to that new entity. There are legitimate steps that can be taken to minimise transactional costs, ie stamp duty, livestock transaction levies and income tax on any such restructure.
In summary, I am convinced more than ever that "the family farm has a future". The crucial issue here though is that the form of the family farm in future may well be more complex. It is of course a complex environment in which we all live and operate.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Bill Loughnan is partner,  Thynne &amp; Macartney and can be contacted <a href="https://www.thymac.com.au/" target="_blank">here</a>.
 
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Collaborative farming – the future for family farms?

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Woolworths plans to shut 30 stores, including 17 supermarkets in Australia and six in New Zealand.
It was announced as part of a Woolworths restructuring into a new operating model that sees 500 fewer jobs, and the slowing of its store roll-out.
It involves closing underperforming outlets by the new chief executive Brad Banducci, who started in the role in February.
These 17 stores are all expected to shut before the end of the current financial year. They have not been identified from their 960 store tally, but have an average six years remaining on their lease. Under community pressure Woolworths reportedly advised that it Bundaberg region stores will not be closing.   
Woolworths also said that it has identified five Big W stores that are likely to close in the next three years based on current trading performance.
A further 34 stores across its broad portfolio are rated as underperforming.
Woolworths said there was "currently significant uncertainty around whether we would renew the lease at the end of the lease term".
These include 15 supermarkets in Australia and five metro stores.
There are also 20 development sites were the build will be delayed or not proceeded with.
He said sales per square metre and 'Return On Funds Employed' would be introduced as long-term executive performance indicators of how stores were performing under a new operating model.
Banducci had been managing director of Woolworths Food Group with 25 years in retail, including 15 years consulting to some of the world’s leading retailers, as well as private equity experience in retail.
He had had five years with Woolworths, including his role in leading the growth of Woolworths Liquor Group. During this time he was instrumental in the development of Dan Murphy’s.
The announcement comes as the German supermarket Aldi is estimated to now hold a double-digit percentage share of the Australian grocery sector.
Australian Competition and Consumer Commission chairman Rod Sims believes Aldi to now have “close to north of 10 percent of the market now”, according to Fairfax Media.
Sims believes this has knocked the dynamic duo of Coles and Woolworths down to a combined 70% share, whereas the two held closer to a 75% share a few years ago.
Aldi has over 400 stores across the country, employing over 9000 staff with sales in 2013 at just under $5 billion, up $2.86 billion from 2010.
Woolworths will open 45 stores over the next few years.
It typically closes around eight stores each year.
 
 
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17 Woolworths stores to close in Australia with another 15 under threat

Sydney&#39;s high profile TV executive, David Leckie and his charity cheerleader wife, Skye, have listed their Centennial Park home, Lactura.

The grand two storey home has played host to numerous private soirees.

Hidden behind its Lang Road hedging, there&#39;s the grand open plan living interiors along with the rear Hamptons style entertaining areas.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/07/25/2_gq90kp.jpg" />

The giants of the Sydney social scene apparently want more than $11 million at its August 13 auction.

The McGrath estate agents Dominique Ogilvie and Ben Collier&nbsp;will need more than $12 million for it to claim the suburb record set by the young IT entreprenuer Mike Cannon-Brookes last year.

David says he loves his Southern Highlands farm and that&#39;s why they are downsizing in Sydney.

[smartcode_project:default project_id=7317 project_image_fid=79239]

Skye, who has just returned from holidaying at Capri and London, is now on the lookout for a chic apartment.

She rose to prominence in the late 80&#39;s as the group public relations officer for retailer David Jones. Skye has been a devoted charity fundraiser helping raise millions over the years especially as the Gold Dinner ambassador for Sydney&#39;s Children Hospital Foundation.

<img alt="" src="https://www.urban.com.au/images/2016/07/25/1469077529881.png" />

The couple have owned on Lang Road since 1998 when David was chief executive of the Nine Network under Kerry Packer.

He recently finished up his consultancy at Kerry Stokes&#39; Channel 7 with hopes of keeping busy after admitting having an enduring passion for the industry where he regularly triumphed in the nightly ratings.

They paid $2.5 million for the four bedroom home on its corner 1031 sqm block. Leckie recalled last week, in something of an unseemly reference in the Fairfax press, that he had bought the house without telling his wife.

<img alt="" src="https://www.urban.com.au/images/2016/07/25/1469077765195.png" />

The 1910 residence now comes with five bedrooms, three bathrooms, gourmet kitchen and a grand formal lounge and dining room with marble fireplaces.

The Will Dangar designed gardens surround the Hamptons style outdoor entertaining area which&nbsp;features a heated pool.

Their is a pool house with guest studio and tiered TV room where Leckie watched the evening news and sports from when he ruled the networks.

As one of their sons prepares to finish school, the couple don&#39;t need such a large home.

They are looking towards the harbourside suburbs as they consider several apartments.

[smartcode_project:default project_id=93137 project_image_fid=162061]

They retain their Robertson retreat Mulberry Farm which comes with a&nbsp;Richard Rowe-designed home.

&quot;The farm is really important to me and that&#39;s why I&#39;m selling this place to downsize,&quot; he told The Australian.

&quot;I&#39;ve learnt a lot about farming and I&#39;m looking at a couple of thousand acres now.

&quot;If there&#39;s nothing out there for me, I&#39;m more than happy being a farmer.&quot;

This article was first published in the Daily Telegraph.

Skye and David Leckie list Centennial Park home Lactura

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The property developer/hotelier Sam Arnaout has bought the prized Sweetwater, Hunter Valley vineyard estate.
His Mediterranean-style weekender had been listed at around $12 million by Duncan and Lyn Hardie through Alan Jurd, of Jurd’s Real Estate.
The 48 hectare Pokolbin property came with initial hopes of $30 million, but it was halved earlier this year to $15 million, and then reduced again to $12 million after April auction.
Arnaout, who heads up Iris Capital which entered the hotel industry in 1995, has a whole-floor penthouse in the Bennelong apartment complex which was bought from Margaret Maloney, the widow of the hotelier Cyril Maloney.
Sweetwater was more than a decade under construction.
Sweetwater, a world class winery located in the rolling hills of the Hunter Valley, was marketed as the most significant country vineyard estate in Australia.
Producing Cabernet Sauvignon and Shiraz on 16 hectares, there is also a cellar door and an olive grove.
The vineyard is one of the state’s oldest, having been first planted in 1829 by the pastoralist Richard Jones.
Winemaker Brian McGuigan advised on the layout of its more recent vines. 
The district’s highest previous vineyard sale was the $9.2 million paid in 2006 for the Rothbury Estate by vintner Michael Hope.
Loggerheads, the trophy Pokolbin vineyard estate last sold in 2008, remains listed with wonderful provenance being the former home of the late Len Evans and before that the Tyrrell family.
Robin and Judy Crawford secured the village-like residential homestead with three adjoining pavilions from Len Evan's widow, Trish Evans.. 
The seven bedroom, six bathroom homestead is Australian country-style in design, with European influences, extensively refurbished by the architect Michael Suttor.
It is now surrounded by Paul Bangay garden, with orchard and vegetable garden.
The 87 hectare is listed through Alan Jurd from Jurd's Real Estate who secured its 2008 sale.
Evans planted Shiraz and Gammay in the vineyard.
This article was first published in the Sunday Telegraph.
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Sweetwater, Hunter Valley vineyard estate sold

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The NSW Griffith-based winemaker Casella Family Brands has secured a McLaren Vale vineyard.
Their South Australia wine country purchase cost around $12.4 million.
It secured about 162ha across the Hawthorn Ridge and Reedy Creek vineyards, that were part-owned by interests associated with Paul Buttery.
Knight Frank negotiated the sale.
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Casella buys McLaren Vale vineyard

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Avery Green, the quizzical Thornbury cottage was sold by the RMIT associate professor of architecture and design Pia Ednie-Brown for a stellar $972,000 at weekend auction.
Renovated and extended last year, Jellis Craig had the two-bedroom 1895 house on 228 sqm offered with price hopes of $870,000-plus.
The bidding on <a href="https://www.realestate.com.au/property-house-vic-thornbury-123009990" target="_blank">6 Martin Street</a> began at $850,000 and it was sold to the opening bidders after being announced on the market at $970,000.
Pia Ednie-Brown says she came to know her home of six years “as a person,” even more so as she renovated.
There's now an inside garden next to the kitchen sink, inspired by the wintergardens of the Victorian era. That upside-down picket fence wont be everyone's idea as a ceiling feature in the kitchen. But inspectees loved the tidy backyard with round concrete pavers. 
The property cost $345,000 in 2006, when last listed with $330,000 plus hopes. 
“My hope is that fostering a sense of personal relationship with the buildings we inhabit will also encourage deeper awareness, care and respect for our environments,” Ms Ednie-Brown said on averygreen.org.
"A house becomes part of a family whether ‘owned' or rented – by moving in you enter into a relationship with it," she said.
Avery's Victorian elegance is sprinkled with 1950's art deco and lavished with a contemporary twist, the marketing advised.
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Upside down picket fence interiors sells Thornbury cottage

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ING Direct has cut its lowest variable rate home loan for owner-occupiers by 15 basis points. ING’s Orange Advantage loan has been reduced to 3.79 percent, effective today.
They are for owner-occupier loans with a minimum LVR of 80 percent. Fixed rate changes include a rate of 3.69 percent available for a three-year fixed term.
For more information, <a href="https://www.ingdirect.com.au" target="_blank">click here</a>.
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ING drops variable rate to record low 3.79 percent

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REINSW and the Law Society of NSW have created a new edition of the Contract for Sale and Purchase of Land 2016 to comply with new legislation.
The new version highlights a law which was brought in on 1 July 2016, affecting foreign residents purchasing a property over $2 million.
Under the new law, vendors selling a property for over $2 million will need to apply for a clearance certificate to avoid the purchaser withholding 10 percent tax from the purchase price.  
It also affects companies buying a property, if any of the owners are a foreign resident. Find out more <a href="https://www.reinsw.com.au/imis15_prod/Web/Posts/Latest_News/201603/New_withholding_tax_regime.aspx?WebsiteKey=fc035f62-aa1d-4485-9a5d-f9989cc37ba9" target="_blank">here</a>.
As a result, to deal with this new law the REINSW and Law Society of NSW have updated the Contract for Sale of Land and Purchase of Land. This new edition is not available as a paper copy but can be purchased in digital form by visiting the <a href="https://www.lawsociety.com.au/ECOS/index.htm" target="_blank">ECOS </a>website.
The new 2016 edition of the contract has prompts and clauses to deal with the new withholding tax law, and also includes a warning about the new <a href="https://www.reinsw.com.au/imis15_prod/Web/Hot_topics/Swimming_Pools/Web/Posts/Topics/Swimming_Pools.aspx?hkey=0ca667d3-d548-451b-a6a0-64a0e782a0ce" target="_blank">swimming pool compliance</a>. Find out about the main changes <a href="https://www.lawsociety.com.au/cs/groups/public/documents/internetcontent/907643.pdf" target="_blank">here</a>.  
Barry Johnston, Principal of Balmoral Partners said: “REINSW CEO Tim McKibbin has spent a lot of time time lobbying the government to make sure the legislation is workable.
“The new contract reflects this - so it is best practice to make sure you are using the latest contract because it is there to protect us.”
To find out more about the Contract for Sale and Purchase of Land 2016, watch the webinar with Barry and Gary Newton, Partner in TressCox Lawyers, <a href="https://www.youtube.com/watch?v=-hxgbBC4M5Q" target="_blank">here</a>. 
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Property 101: The new NSW contract for sale

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Melbourne's median weekend house price was $860,000 with prices between $280,000 at Broadmeadows and $3.755 million at Albert Park. 
Apartments had a $600,000 median with prices between $255,000 at Broadmeadows and $1.533 million at Bentleigh.
Sydney's weekend medians were $1.35 million for houses and around $900,000 for apartments. The cheapest offering was $465,000 for a two bedroom Westmead unit with the dearest result being $3.05 million at Mona Vale.
The next highest was $2.8 million post auction in Woollahra. 
Trevor Sykes, the veteran Pierpont finance columnist, had knocked back $2.72 million when his Woollahra period home was auctioned through Debbie Donnelley of Phillips Pantzer Donnelley who secured bidding from just the two parties. The $2.8 million was paid post-auction by the underbidder for the <a href="https://www.realestate.com.au/property-house-nsw-woollahra-122992870" target="_blank">three bedroom, two bathroom house with cellar</a> (above). 
Skyes, once editor of the now defunct The Bulletin magazine, and wife, Daya had owned the Bathurst Street home on a 322 sqm corner block since 2001 when it cost $1.33 million.
Some 1,295 auctions were held across the capital cities, with 1,076 reported results so far. CoreLogic had the preliminary clearance rate of 70 percent - the same compared with last week’s result which showed 70 per cent of the 1,391 capital city auctions cleared.
"Melbourne and Sydney are once again showing the strongest clearance rates of 72 percent and 75 percent respectively," CoreLogic's Kevin Brogan noted.
"Both Sydney and Melbourne recorded a lower number of auctions this week when compared to last week.
"At the same time last year, the number of auctions held was still substantially higher at 2,143 with a success rate of 74 percent."
There were 918 Melbourne auctions held at the same time last year compared to the 550 on the weekend. 
Sydney was host to 448 auctions this week, and much like Melbourne, auction volumes in Sydney this week are substantially lower than one year ago, when 906 auctions were held across the city.  
Brisbane was next busiest, and its volumes were comparable to last year. There were 135 Brisbane auctions, compared to last week’s 120 auctions and 163 auctions last year. The preliminary clearance rate was 53 percent this week, up from 47 percent last week. At the same time last year 54 percent of Brisbane auctions were successful.   
But one Brisbane auction did not proceed as the two bedroom cottage with waterfront views at Victoria Point was badly burnt just hours before going to auction on Saturday.
LJ Hooker Birkdale agent Debbie Ward called the absentee owner with the news <a href="https://www.realestate.com.au/property-house-qld-victoria+point-122998470" target="_blank">4 Colburn Avenue</a> was gutted (pictured below).
<img src="/images/2016/07/25/Screen%20Shot%202016-07-25%20at%209.03.19%20AM.png" alt="">
She made the phone call about 10.40am just ahead of the scheduled 1pm auction at 1pm which was cancelled.
The Gold Coast’s preliminary results show a clearance rate of 62 percent across 21 reported auctions, but all the action has been private treaty sales that have all given the prestige market some momentum.
A $15.5 million sale has been secured for a home on the Isle of Capri.
The sale of <a href="/expert-insights/buying/15-5-million-gold-coast-trophy-home-sale-highest-since-gfc">57-59 The Corso to Chinese buyers</a> is the highest price achieved on the Gold Coast since 2009 (below). 
<img src="/images/2016/07/25/700_capri.jpg" alt="">
The two-level semi-Balinese style mansion was first was marketed three years ago as having a replacement cost in excess of $20 million.
Meanwhile after selling his Cronin Island home, Summer House for $11 million (reported on the New Daily last week), the entrepreneur David Baird and wife Marion have snapped up another Surfers Paradise home. 
They have spent $7 million property on Commodore Drive for a five bedroom, six bathroom home on 1124 sqm.
It has a floor area of more than 800 sqm, spread over four levels.
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Reduced Sydney and Melbourne auctions continue to underpin market strength

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GUEST OBSERVER
The minutes of the July monetary policy meeting of the Reserve Bank Board confirmed the importance of next week’s June Quarter inflation report.
The key sentences in the concluding paragraph of the “Considerations for Monetary Policy” section state: “The Board noted that further information on inflationary pressures, the labour market and housing market activity would be available over the following month and that the staff would provide an update of their forecasts ahead of the August Statement on Monetary Policy. This information would allow the Board to refine its assessment of the outlook for growth and inflation and to make any adjustment to the stance of policy that may be appropriate.”
So the minutes clearly leave the door open for another rate cut in August.
But this will depend upon the June quarter inflation report’s estimate of underlying inflation. The upper bound below which a rate cut can be expected is likely to be 0.5%.
Westpac’s forecast for underlying inflation in the quarter is 0.35 percent (up slightly on our preliminary estimate of 0.30 percent) which would support the need for another move given that core inflation would only have risen by 0.55 percent over the course of the first half of 2016, raising a genuine question mark as to whether even the Bank’s current 1.5 percent/yr mid-point forecast for December 2016 could be achieved. A lower result for 2016 would also place their 2.0 percent forecast for 2017 (the bottom of the 2-3 percent target range) in jeopardy.
What are the risks to our forecast and what is the level of June quarter inflation above which the Bank would keep rates on hold?
The tone of the minutes indicates that the Bank may be leaning toward another rate cut and may have a bit more flexibility on the inflation result than we had expected.
It is useful to note the Bank’s own expectation for the print.
In the Statement on Monetary Policy in May, it forecast underlying inflation would print 1.5 percent for the year to June. With nearly 1.0 percent already being reached in the first 3 quarters, we can conclude that the Bank is expecting a 0.5 percent print for underlying inflation in the June quarter. That result would therefore be interpreted by the Bank as being in line with its overall inflation outlook, which is for underlying inflation to print 1.5 percent for calendar 2016 and 2.0 percent for calendar 2017.
The result would provide support for its forecast changes in May and indicate that it had not overreacted to the very low print of the March quarter.
Recall that the May forecasts assumed “market pricing” on interest rates, which incorporated a fully priced second rate cut by early 2017.
I think it is therefore reasonable to conclude that a 0.5 percent print for underlying inflation, although representing a sharp jump from March’s 0.2 percent print would be consistent with a follow up rate cut at the August meeting.
Another way to look at it is that 0.5 percent would still represent an annualised “run rate” of 2.0 percent which is still at the bottom of the 2-3 percent target band.
In the May Statement on Monetary Policy, the Bank noted “Although some temporary factors contributed to the low result, the data indicate that there has been broad based weakness in domestic cost pressures, reflecting low wage growth, heightened retail competition, softer conditions in rental and housing construction markets and declines in the cost of industry inputs such as fuel and utilities.”
Theoretically the pass through from the fall in the AUD should be an offset to these pressures, but there has been only limited evidence of that effect and the fall in the AUD is starting to fade with the currency being broadly stable over the last 12 months – clearly margin squeeze has had a considerable influence on limiting the pass through from AUD depreciation.
Our forecasts for the June quarter expect these trends to be sustained. Lower than expected results across the spectrum of components are consistent, in particular, with low wage pressures and margin squeeze. That stood out in the March quarter result.
Clothing and footwear; processed food; household contents and services and holidays are likely to continue to capture the low wages and retail margin squeeze effects in the June quarter. We have made allowance for those factors in our forecasts.
However, by far the most important driver of the outcome for underlying inflation is likely to be housing.
Because rent and housing construction costs are not volatile and/or impacted by significant one off factors, they are almost always included in the 70 percent of items which make up the trimmed mean – the key measure of underlying inflation. With a total of 15.4 percent in the overall CPI (construction costs, 8.7 percent; and rents, 6.7 percent) these two components represent an effective 22 percent of the trimmed mean – by far the highest weighting of any component.
In recent quarters we have seen a collapse in housing pressures, particularly outside of Sydney and Melbourne.
In the December quarter last year, growth in construction costs slowed from 1.1 percent the year before to 0.1 percent; in the March quarter, we saw a continuation of that weakness, printing 0.2 percent from 0.9 percent the year before.
The slowdown in rents has been more gradual. The December quarter slowed to 0.2 percent from 0.5 percent a year ago and slowed further still in the March quarter to 0.1 percent from 0.4 percent a year earlier.
Housing pressures in the June quarter will be critical for underlying inflation. In our preliminary estimates, we assumed 0.1 percent for rents and 0.2 percent for housing construction. In our final estimate, we have cautiously lifted these estimates to 0.2% and 0.3% respectively, pushing the underlying measure up to 0.35 percent – still comfortably in the “rate cut” zone.
If the underlying result printed above 0.5 percent due to housing, then one combination would be both rents and construction costs printing at 0.6 percent or above. These results would defy a clear slowing trend in rents, and indicate a possible but unlikely sharp recovery in construction costs and builders’ margins. While entirely possible (e.g. construction costs/ margins lifted from 0.9 percent to 1.5 percent between March and June last year), particularly following the lift in house prices (rather than specifically construction costs) in April/May in Sydney and Melbourne, we think the outcome would be unlikely.
Arguably, an unanticipated “spike” in housing costs and rents that offsets the wages/margins forces that have structurally driven down inflation pressures would be an unwelcome outcome for the Bank.
In the event of an upside surprise in the Inflation Report that was largely attributed to a spike in housing costs, the Bank is likely to be more flexible with its ultimate rate decision, but a print above 0.5% would still make it very difficult to justify a cut.
In that event, markets would readily switch their focus to a November cut, expecting some correction to the housing “spike”.
BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Housing pressures in the June quarter will be critical for underlying inflation:  Westpac's Bill Evans

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

Joel Robinson

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368856]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Jonathan Chancellor

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