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Comedienne Geraldine Doyle and her musician husband Paddy Fitzpatrick have finally sold their long-held Newport home after being pulled from auction pre-Christmas.
Having hopes of $1.7 million plus, Stephanie Hammond of C21 The Property Partnerships secured a $1.8 million sale earlier this month.
Privately elevated on 1,611 sqm, the timber and rendered brick residence has a full length timber verandah which offers panoramic views over Pittwater's Crystal Bay.
The former Midday Show regulars bought the five bedroom home for $320,000 in 1990, the year Doyle published her tell-all book, You wouldn't read about it.
The many time Mo Awards winner grew up in a large Catholic family in Dublin before emigrating to Australia in the early 1970's.
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Legendary entertainer Geraldine Doyle sells Newport home

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GUEST OBSERVER
Asbestos is the generic term for a number of fibrous silicate minerals. Products made from asbestos cement - a bonded asbestos material - include fibro sheeting (flat and profiled) guttering and downpipes, as well as other pipes for water, drainage or flues, corrugated roofing sheets, roofing shingles and guttering.  WHY WAS ASBESTOS USED IN HOMES?
Asbestos materials were cheap and durable and after World War II until 1954 it was used extensively in the building industry. In New South Wales it's estimated 52 percent of all houses, (approx. 70,000 houses), were built using it. Up till the 1960s, 25 percent of all new housing was clad in asbestos cement in Australia and around 20 percent of all domestic roofs of that period contained asbestos. In Victoria, the percentage was higher and approx. 98 percent of homes constructed before 1976 contained asbestos products.  IS ASBESTOS STILL USED?
The good news is NO. Asbestos has not been used in domestic building materials since the 1980s, however, it was not until 31 December, 2003, that the use of asbestos and all products containing asbestos was banned throughout Australia. It is now illegal to import, store, supply, sell, install, use or re-use asbestos products. Please note: the ban does not apply to asbestos installed prior to this date and if your home contains asbestos you are not required to remove it, but if you do then you must follow safety guidelines and you cannot dump any type of asbestos material in a general waste disposal area. HEALTH RISKS
The health risks associated with working in the asbestos industry and being exposed to asbestos products through occupational, environmental and secondhand factors are now well known and documented and include Cancer; Mesothelioma, Asbestosis and other related serious conditions. It is strongly recommended before starting to undertake any type of renovation on a house built before the late 1980's that absolute caution be observed as it can potentially have asbestos containing materials like fibro, and exposure to broken asbestos by breathing in asbestos fibers which are toxic can be serious especially for anyone who smokes and young children.
RENOVATING - WHERE WOULD I FIND ASBESTOS IN A HOUSE?
It is very hard to identify asbestos products in a house just by looking at them. Below is a list of potential locations where asbestos was used in houses built or renovated before the late 1980's ... • Chimney flues • Flat, patterned or corrugated wall and roof sheeting • Lining under eaves • Lagging on hot water pipes • Vinyl floor tiles and backing to cushion tile and vinyl flooring • Internal and external walls • Imitation brick or weatherboard cladding • Insulation in wood heaters • Asbestos cement sheeting beneath heater hearths • Electrical meter boards • Garages &amp; carports • Garden sheds • Dog kennels
 If you suspect there could be asbestos materials - the only way to be certain is to have a sample of the material analysed by a laboratory - DO NOT ATTEMPT TO REMOVE IT OR BREAK IT UP call in an expert first and contact NATA – The National Association of Testing Authorities for an analytical laboratory in your area that is accredited to identify asbestos, visit NATA website: <a href="https://www.nata.asn.au/" target="_blank">www.nata.asn.au</a>
Confirmation should be carried out before any general maintenance, renovation or demolition activities proceed. Following the severe thunderstorms and tornado that lashed Kurnell, NSW last December, 2015 there was a trail of debris and fears of airborne asbestos. 
Home owners found themselves in a devastated condition with experts assessing the area to identify hazardous materials, such as asbestos products, because of the age of the houses many built before 1987. Authorities warned residents of the risks and advised them not to disturb the debris and to wear a P2 mask and protective clothing as a precaution before entering the ruins of their homes. This was very sad for the whole community and underscored the high danger of asbestos materials when they are disturbed and broken.  As a Conveyancer I always alert my client who is considering purchasing a home built prior to the late 1980's of the potential that the house may contain asbestos materials and I ensure the client understands the importance of checking for asbestos issues through a building report before going ahead.  A good suggestion I make to the client is to meet with P&amp;B Inspectors while they are conducting their inspections for questions about asbestos, extensions without Council approval or other matter of material concern before signing a contract and tendering a Deposit. 
Garth Brown is an accountant and certified conveyancer with Brown and Brown Conveyancing and can be contacted <a href="https://www.conveyancers.net.au" target="_blank">here</a>.
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Property 101: Asbestos and what you need to know

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GUEST OBSERVER
Negative gearing and capital gains tax are a looming battleground in the federal election.
The debate was heightened last month by the release of modelling by consultants BIS Shrapnel purporting to show that reforms would lead to rent increases of between 4 percent and 10 percent. If correct, this would scare any political party.
An article in The Australian on Tuesday revealed that the ALP had seen this modelling before it released its policy to wind back the tax breaks on negative gearing and capital gains,
The ALP should be applauded for proceeding nevertheless. The report was clearly going to be inconvenient. But it was also not worth the paper on which it was printed.
The report implied that a<a href="https://grattan.edu.au/news/a-low-cost-way-to-derail-the-housing-debate/"> </a>$2 billion increase in tax would reduce economic activity by $19 billion a year. The report’s model also suggested that every additional house or apartment would increase the size of the Australian economy by $2.6 million.
None of this is remotely plausible, and consequently, it is difficult to believe anything else that the modelling or the report has to say.
Nonetheless, this report is still being discussed a month later – so it clearly needs some more critical analysis.
Tax changes will clearly reduce the after tax benefits for property investors. The key question is whether the market responds by reducing the price of housing, or by increasing rents, or by absorbing a reduction in returns.
Most likely, the price of housing will fall somewhat, investor returns will reduce a little, and rents will barely move. This is why.
Changes to negative gearing and capital gains tax will increase taxes for investors and lower their returns. Normally this would lead to lower asset prices.
But the outlook for home-buyers is different. The benefits for a home-buyer (of living in the home) won’t change. The price of the home will be a little lower due to the changes in negative gearing and capital gains tax. Therefore the return on assets (the benefits divided by the price) will be a little higher for home-buyers.
Combining the effects of the changes for investors and home-owners leads to an average after tax return on housing that is about the same as today. There will be more home-owners and correspondingly fewer investors – but higher rates of home ownership are the political goal.
The outcome might be different if the supply of new housing dried up. If there were fewer incentives to develop new homes, then eventually rents would increase.
However, our best guess is that tax changes will have little effect on housing construction. The supply of new housing is mainly restricted by planning rules rather than a lack of returns. In any case, reforms to negative gearing are likely to reduce the price of developable land, but they won’t change the returns on development.
BIS Shrapnel assume otherwise. They believe that changes to negative gearing rules will reduce the price and therefore the profitability of property developments, but not the price of developable land. And so they assert that tax changes will lead to less residential development, and therefore higher rents in the long run. Their report assumed that the price of developable land wouldn’t change based on three claims.
First claim: if the price of developable housing land fell, sites would instead be used for commercial purposes. But as a firm that advises clients on property development, BIS Shrapnel should know that in most localities land provides a much higher return per square metre when turned into residences than when used for commercial purposes. Indeed, there are concerns that too much of the Melbourne and Sydney CBDs is being converted to residential rather than commercial uses. There isn’t much evidence of enormous pent-up demand for commercial development.
Second claim: landholders will be reluctant to sell at lower prices. This is simply wishful thinking. Prices don’t rise just because sellers would like them to do so.
Third claim: it will be more expensive to aggregate sites for development. But lower prices as a result of negative gearing reform will affect all residential properties, irrespective of whether they have already been developed, or have potential to be aggregated further.
Instead of assuming that tax changes will only affect the price of development, it is much more plausible that changes in after tax returns to investors will primarily lead to lower land prices. This won’t hurt the profitability of development, the supply of rental property will continue, and the impacts on rents will be minimal.
Even if tax changes did affect the profitability of development, it’s all small beer. Quick sanity checks (the kind of things that property developers do to ensure that their modellers don’t lose them a fortune) show that the effect of negative gearing changes on property prices will be less than 2 per cent across the Australian market.
One way to think about it is that negative gearing and capital gains tax provide investors in real estate with a tax benefit of about $3 billion a year; that annual benefit converts to an asset value of about $55 billion; and all Australian residential property is worth a little over $5 trillion. If negative gearing were abolished entirely the lost value would be $55 billion, just over 1 per cent of $5 trillion of property value.
Another way to crunch the numbers shows that negative gearing and capital gains tax changes would reduce the after tax returns on real estate investment assets by about 7 percent. But this wouldn’t affect all housing assets – only 30 percent are investment properties, and the rest are owner occupied. So across the market, return on assets – and therefore asset values –would fall by about 2 percent. Or in the unlikely event that investors succeed in passing on tax costs, rents would rise by at most 2 percent.
BIS Shrapnel presented the ALP with a claim that tax changes would increase rents by 4 to 10 percent. But that claim was several times larger than fundamentals would suggest. It used a model that was not publicly available. It was allied with a series of manifestly ridiculous economic results. And it all rested on an unjustifiable assumption that tax changes won’t affect land prices.
The ALP was right to ignore such flawed analysis. It is a relief to discover that – sometimes – a political party’s policy cannot be bought off just by commissioning a flawed report with scary numbers.
<a href="https://theconversation.com/profiles/john-daley-1870" rel="author">John Daley </a>is chief executive officer, Grattan Institute and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-daley-1870" target="_blank">here</a>.
 
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Why it is good policy, not bad politics, to ignore bad modelling on negative gearing

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With the end of the 2015/16 financial year less than two months away, Angus Raine, executive chairman of Raine &amp; Horne, is urging Australian property investors to have a current depreciation schedule in place by 30 June 2016.
“Almost 80 percent of landlords fail to maximise depreciation claims against their investment property, potentially missing out on thousands of dollars come tax time,” says Mr Raine.
“The problem is that many landlords either aren't aware of the benefits associated with depreciation, or don't have an up-to-date depreciation schedule, which enables them to claim against the reduction in value of items such as carpets, curtains, stove cook tops, some light fixtures, shower heads and so on.
“Each year, landlords can claim between 10 percent and 40 percent off a variety of depreciable items, and sometimes more.
“In many cases, 2.5 percent of the building cost of the investment home is also claimable on an annual basis.”
Landlords should seek professional support when creating or updating a depreciation report, according to Mr Raine.
“Arranging a specialist tax depreciation company such as BMT to carry out the report will ensure that everything is done by the book,” says Mr Raine.
This advice is particularly appropriate for established properties, where it is also possible to back-date missed depreciation claims by two years.
“Always seek professional advice for established investments as it can be trickier to navigate the tax deductions.
“Moreover, the costs associated with a depreciation schedule, which can be between $650 and $700 per report, are also tax deductible,” advises Mr Raine.
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Property 101: Maximising depreciation claims

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An office property in the Melbourne suburb of Burwood East has sold at auction for $502,000.
The 15 Royton Street building occupies 110 sqm with a total land area of about 186 sqm.
The ground floor retail/office space building is ready to occupy or has the potential to be developed subject to Council approval (STCA).
It was previously trading as a restaurant and has both rear and front parking.
The auction was through George Kelepouris and Paul Rizzo of Ray White Commercial.
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Ground floor office building in Melbourne's Burwood East sold at auction

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The literacy levels of construction workers are low relative to other industries, and yet prescriptions about how to work safely are often buried inside long and complicated documents.
Our research suggests workers may not even read these documents before they commence work. Also, no matter how complex they are, documents cannot cover all eventualities. There’s a gap between the way work is described in formal health and safety documents and the way it is practised on site.
Visual methods, including video, can overcome some of these difficulties. For a long time videos have been used to communicate health and safety information to workers. But safety training videos are often produced by technical experts or media companies and shown to workers in stand-alone presentations. In such uses, workers are passive audiences to generic video materials.
Construction companies are legally required to consult workers on health and safety issues, but this is often done in a very formal top-down way, rendering it meaningless.
This is a missed opportunity because construction workers possess a wealth of knowledge based on their practical experience, often gained over many years. Research conducted at RMIT University (undertaken in partnership with Melbourne-based firm CodeSafe Solutions) examined the potential for digital and mobile technologies to be used to access, capture and share workers’ health and safety knowledge.
In the research, construction workers were involved in making films about their everyday work practices. Unlike documentary, in which subjects have little or no say in how they are portrayed, participatory video engages people in making films about their everyday experiences.
Construction workers received basic media training before making digital videos about their work practices. The video making enabled workers and managers to understand and reflect on the way work is routinely done and, in doing so, identify constraints and enablers of safe and healthy ways of working. Only when watching the video footage did managers and workers identify problems inherent in standard operating procedures that were either poorly understood or impractical due to physical features of the work environment.
Gaps were identified between the way work was documented and the way that it is routinely practised. Understanding these gaps meant they could be discussed and collaboratively resolved.
In several instances work equipment, processes or procedures were redesigned to improve safety. In some instances tasks that had been undertaken the same way for many years were redesigned to make them safer. Both workers and managers described how watching the video footage gave them a different perspective and enabled them to view and understand work in new ways.
In one example an access platform erection process was redesigned after workers were seen working adjacent to an unprotected edge.
The collaborative redesigning of a long established work task reveals how workers’ tacit knowledge – which is not easily captured or written down - was made explicit and usable through the participatory video activities.
Once made, the digital videos are disseminated at participating worksites using quick response codes, accessible via smartphones. Some workers share these videos with workers outside their organisations, while others show them to builders and principal contractors to explain why they need to work in certain ways to remain safe.
The workers described video as being a powerful way to share “know how” as opposed to “know what.”
Digital and mobile technologies are now an integral part of everyday life. Using a smartphone to capture and share knowledge, experiences and ideas in video format is not only possible, but now second nature to many. The research shows it can also improve construction workers’ health and safety.
Helen Lingard is professor, Construction Occupational Health and Safety, RMIT University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/helen-lingard-170971" target="_blank">here</a>.
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Construction workers safer when they ditch the manual: study

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LA-based actor Simon Baker might have a new neighbour at his Bondi Beach bolthole, or perhaps move to secure three quarters of the top floor of his lowrise apartment complex.
One of the other two apartments with rooftop patio has just been listed through Raine &amp; Horne agent Hannah Bouskila for May 5 auction.
Set on the Ben Buckler peninsula in an art deco building of just seven,<a href="https://www.realestate.com.au/property-apartment-nsw-north+bondi-122355678" target="_blank"> the 69 sqm apartment offering has two bedrooms, two bathrooms</a> plus its all important 66 sqm roof terrace. 
Baker's adjoining three bedroom apartment spreads over 135 sqm and takes up half of the roof, fitted with a covered bbq kitchen.
It is a near beachfront $2.63 million Bondi bolt hole which Baker purchased in 2014.
It's unsure whether Baker has seen the auction board sign that went up this week in front of the two storey block on Hastings Parade.
You'd imagine he'd have been called by his buyer's agent Janne Sutcliffe.
Prices on the headland parade have ranged between $1.2 million and $2 million over recent weeks. 
The Logie award winning actor is regularly spotted enjoying the beach lifestyle at Australia’s most famous beach when ever he's here from LA.
A sale to Baker would further increase the longtime Mentalist stars eastern suburbs property portfolio.
He paid $6.5 million last July for a Bronte hillside home having lived in LA with his wife Rebecca Rigg and their three children since the mid 1990's.
He also owns in the Byron Bay hinterland.
The 45-year-old Baker has turned director, preparing for his forthcoming film, an adaptation of Tim Winton's disturbing novel Breath which he will star in and co-produce.
The coastal Australian setting has seen Baker film at Bronte Beach.
Baker wouldn't be the first to start on a complete top floor aquisition of an apartment block in North Bondi.
There was also former David Jones CEO Mark McInnes secured two top floor apartments for around $5.5 million, which adjoined his earlier $1.6 million acquisition.
The chairman of Caledonia Investments Michael Darling and wife Manuela Darling-Gansser paid $14 million for an entire Ramsgate Avenue apartment complex in 2011.
Sold by retired IT entrepreneur Neill Miller, Darling then commissioned son-in-law and architect Nick Tobias to design the family compound project.
The plan was for the Darling's to live in an apartment which covered the whole top floor, with the lower floors converted to a recreation space for his children and grandchildren.
This article was first published in the Saturday Daily Telegraph.
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Neighbouring beach pad to actor Simon Baker listed

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GUEST OBSERVER
The number of loans (commitments) for people who are buying or building homes to live in (owner-occupiers) rose by 1.4 percent in February after sliding by 4.4 percent in January.
The average home loan across Australia fell for the third consecutive month down by $15,200 to $357,200 in February – the biggest monthly decline on record. And it was the biggest percentage decline for a February month.
Retail petrol: According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol rose 4.1 cents per litre, to 114.4 cents per litre in the week to April 10.
Capital cities: In Adelaide, the average petrol price is currently below $1 a litre. In Sydney and Brisbane, prices are near $1.25 - $1.29 a litre after lifting a much as 20 cents a litre in the past week.
Chinese inflation: Chinese consumer prices fell by 0.4 percent in March to be up 2.3 percent on the year (forecast 2.5 percent). Producer prices fell by 4.3 percent over the year (forecast -4.6 percent).
Food inflation: Over the year food prices are up 7.6 percent with non-food prices up just 1.0 percent.
<a href="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%203.02.41%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%203.02.41%20PM.png" alt="">
The housing finance data has implications for banks, building material suppliers and retailers. The petrol figures have implications for retailers, especially petrol marketing groups. The Chinese inflation data is of importance to exporters and importers.
What does it all mean?
The housing sector has shown signs of slowing, however Aussies are still taking out home loans to build homes or buy homes to live in, albeit at a more moderate pace. Overall it is an encouraging result suggesting that a soft landing is underway. The lift in loan activity in February is a sign of confidence in both the state of the job market and the outlook for interest rates.
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It’s no surprise the strength is in the owner occupied market with loans still up 15 percent on a year ago. In contrast, investor loans are down over 7 percent compared with this time last year. The cooling in the property market is a welcome sign given the ramp up in property over 2014/15.
In addition, a key guide to house price growth - the average loan size - has fallen for the third straight month, down by 4.1 percent or over $15,000 in February – the biggest monthly decline in dollar terms on record. The result was driven by the average loan for established dwellings (down 8 percent over the past three months) and new dwellings (average loan down by over 12 percent in the past three months).
It should be noted that the average home loan is influenced by home prices, composition of borrowers and the geographic location of home purchases.
Interestingly the value of owner occupier and investor loans to build new homes rose by a sizable 5.8 perccent in February and is holding just of record highs - partially a function of price growth.
The Chinese inflation data has clearly been affected by the seasonality in higher food prices (in particular pork prices – up 28 percent over the year to March). Outside food, inflation remains low at 1.0 percent. The timing of Chinese New Year can cause distortions in economic data as has already been apparent in the trade figures.
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<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%203.05.27%20PM.png" alt="">
The lift in petrol prices last week was more a function of the discounting cycle across capital cities rather than any major shifts in global oil markets.
Motorists would be well rewarded for keeping an eye on petrol signboards and filling up at the cheap end of the cycle. In Adelaide, petrol is below a $1 a litre, while In Sydney and Brisbane, prices are near $1.25 - $1.29 a litre after lifting a much as 20 cents a litre in the past week. Melbourne prices peaked 10 days ago and have so far eased to around $1.20 a litre.
What do the figures show?
Housing finance - number
The number  of new owner-occupier housing loans (commitments) rose by 1.4 percent in February after sliding by 4.4 percent in January. Excluding the refinancing of dwellings, the number of loans was up by 1.6 percent.
Loans by owner-occupiers for the construction of homes  fell by 1.9 percent in February; loans to buy newly erected dwellings  fell by 15.4 percent; and loans for the purchase of established dwellings  (excluding refinancing) rose by 5.5 percent. The number of refinancing transactions  fell by 0.4 percent.
Housing finance - value
The value of new housing commitments (owner occupier and investment) rose by 2.6 percent in February after a 3.7 percent increase in February. Owner-occupier loans rose by 1.7 percent while investment loans rose by 4.1 percent.
The value of loans by owner-occupiers and investors to build new homes rose by 5.8 percent in February after a fall of 1.6 percent in January. The value of loans to build new homes stood at a 14-month high of $2.95 billion, marginally weaker than the record high of $2.97 billion in December 2014.
 Housing finance – other statistics
The proportion of first-time buyers in the home loan market fell from 15.1 percent to 14.7 percent in February. (However the figures take into account refinancing loans and as such the figures may misrepresent the true situation).  
The proportion of fixed rate loans eased from 13.6 percent to 13.1 percent in February. And the average home loan across Australia stood at $357,200 in February, up 7.8 percent on a year ago, but down 4.1 percent in the month.
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<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%203.06.38%20PM.png" alt="">
Chinese inflation:
Consumer prices fell by 0.4 percent in March to be up 2.3 percent on the year. The annual result was below the forecast of 2.5 percent but in line with the February result.
Non-food prices fell by 0.1 percent in the month to be up 1.0 percent over the year. The February annual result was also +1.0 percent. Prices of consumer goods rose 2.5 percent over the year (February 2.6 percent) with services up 1.9 percent (February 1.8 percent).
Food prices fell by 1.8 percent in March after rising by 6.7 percent in February (reflecting Chinese New Year effects). Food prices are up 7.6 percent over the year, up from the 7.3 percent annual gain in February. Pork prices fell by 1.3 percent after rising by 6.3 per cent in February. Pork prices are up 28.4 per cent in the year to March, up from the 25.4 per cent annual increase to February.
Consumer good categories (year to March): Food, tobacco and alcohol 6.0 percent; Clothing 1.5 percent; Rent, fuel &amp; utilities 1.3 percent; Household goods 0.4 percent; Transport and communication -2.6 percent; Education, culture and recreation 1.2 percent ; Healthcare 3.1 percent; Other goods and services 1.7 percent.
Producer prices fell by 4.3 per cent in the year to March, firmer than the 4.9 per cent decline to February and below market forecasts centred on a 4.6 per cent decline. It was the smallest rate of decline since January 2015.
<a href="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%203.07.55%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%203.07.55%20PM.png" alt="">
Petrol prices
According to the Australian Institute of Petroleum, the  national average Australian price of unleaded petrol rose by 4.1 cents per litre to 114.4 cents per litre in the week to April 10. The metropolitan petrol price rose by 5.5 cents to 115.2 cents per litre while the regional price rose by 1.1 cents to 112.7 cents per litre.
The national average Australian price of diesel petrol rose by 0.7 cents to 112.3 cents per litre in the week to April 10. Last week the metropolitan price rose by 0.5 cents to 111.3 c/l, while the regional average price was up 0.9 cents to 113.2 c/l.
Average unleaded petrol prices across states and territories over the past week were: Sydney (up by 4.9 cents to 110.1 c/l), Melbourne (up by 12.3 cents to 124.9 c/l), Brisbane (up 7.2 cents to 116.9 c/l), Adelaide (down 6.0 cents to 100.5 c/l), Perth (down 0.5 cents to 111.5 c/l), Darwin (up by 0.2 cents to 115.6 c/l), Canberra (down 0.1 cents to 117.0 c/l) and Hobart (up by 0.2 cents to 117.4 c/l).
Today the national average wholesale (terminal gate) unleaded petrol price stands at 101.4 cents per litre, down 2.8 cents per litre on a week ago but still up 5.6 cents a litre on than the lows set in mid-February. The terminal gate diesel price stands today at 94.50 cents a litre, down 2.2 cents a litre over the week.
Last week the key Singapore gasoline price rose by US80c or 1.5 per cent to US$53 a barrel. In Australian dollar terms the Singapore gasoline price rose by $2.11 a barrel (3.1 per cent) to $70.34 a barrel or 44.24 cents a litre.
MotorMouth records the following retail prices for capital cities today: Sydney 125.9c; Melbourne 119.7c; Brisbane 128.7c; Adelaide 99.5c; Perth 100.8c; Canberra 111.3c; Darwin 114.4c; Hobart 117.7c.
What is the importance of the economic data?
Housing Finance data is produced monthly by the Bureau of Statistics and shows commitments by lenders, such as banks, to provide finance for housing purposes. The lending figures relate to those looking to buy or build homes to live in as well as those seeking to buy or build homes for investment purposes. Generally people get their finance organised first, so the figures are regarded as a leading indicator on the housing market.
Weekly figures on petrol prices are compiled by ORIMA Research on behalf of the Australian Institute of Petroleum (AIP). National average retail prices are calculated as the weighted average of each State/Territory's metropolitan and non-metropolitan retail petrol prices, with the weights based on the number of registered petrol vehicles in each of these regions. AIP data for retail petrol prices is based on available market data supplied by MotorMouth.
China’s National Bureau of Statistics releases its monthly economic statistics around mid-month. Quarterly GDP data is released around the 19th of January, April, July and October. China’s Customs Office releases trade data, and the People’s Bank of China releases financial statistics, around the 10th of each month. China is Australia’s largest trading partner and changes in the Chinese economic have major implications for the Aussie economy.
What are the implications for interest rates and investors?
Petrol prices look set to bounce around current levels although capital city motorists must still contend with the vagaries of the discounting cycle.
While it is hard to read too much into it, Chinese consumer prices have lifted in recent months largely due to the seasonality in food inflation. If inflation was a result of stronger demand, it would be seen as positive in the current environment by investors.
The Reserve Bank will be comforted by the more stable conditions in the investor housing market.
CommSec expects no change to interest rate settings for the foreseeable future.
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
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Record drop in average home loan: CommSec's Savanth Sebastian

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Retired publicans Peter and Kalli Winter have their modern Georgian-inspired, East Melbourne terrace listed for sale.
The two level <a href="https://www.realestate.com.au/property/180-hotham-st-east-melbourne-vic-3002" target="_blank">180 Hotham Street</a> terrace includes three interconnecting living rooms, one opening to a courtyard.
There are three bedrooms.
The couple, who once owned Fitzroy’s Provincial Hotel, reportedly expect between $5 million and $5.5 million.
When is a pre-purchase building inspection a must?  What do they entail?  How does one interpret the results?  What defects can be fixed and which ones should prompt you to walk away. Jarrod McCabe, associate director, Wakelin Property Advisory and Peter Alexander, building inspector, Safehome Building Inspections present a webinar for Victorian home buyers on April 20. <a href="https://wakelin.com.au/inspection" target="_blank">Click here to register</a>.
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Modern East Melbourne Georgian-style trophy home

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Justin Butterworth, the entreprenuer who pioneered online holiday home rental websites in Australia, has listed his architecturally stunning Bronte home.
His <a href="https://www.realestate.com.au/property-house-nsw-bronte-122381986" target="_blank">Palmerston Avenue home</a> comes with a $3.9 million to $4.29 million McGrath Estate Agents price guidance.
The Dale Jones-Evans designed home last traded at $2.6 million in 2012.
It was the Goode-Nicholas family who built on the 270-square-metre site on Palmerston Avenue in 2005, a family home with four bedrooms, three bathrooms, a study, a media room and plenty of indoor-outdoor living space. It is nicknamed the "Mound House."
It features semi-enclosed entertainers' decking. 
Since last September, following 16 years, Jason Butterworth has been on a work break, initially taking off overseas to travel, study and also explore new business opportunities. 
He was most recently at the Stayz website, but Butterworth had previously been with HomeAway, YesBookit, Rentahome and Takeabreak.
It was in 1999, after being an economist at the NSW Treasury, that he founded Australia's first online bookable holiday and short term rental website. 
The big break came in 20011 when Fairfax Media bought Butterworth's Occupancy Pty Limited, paying $29 million for rentahome.com.au and takeabreak.com.au.
At the time Fairfax's own website Stayz handled 10 percent of the holiday rental bookings in Australia, with industry analysts calculating the deal with Occupancy saw Stayz then having 60 percent of the market with the addition of around 30,000 properties.
Occupancy’s Sydney based co-owners with Justin Butterworth were Craig Davis, Michelle Davis and Penny Parsons who shared $17.9 million in cash from Fairfax and $11.2 million worth of shares in the Stayz business.
Butterworth and his rentahome business had joined forces with Davis’ and Parsons and their takeabreak.com.au business in 2010.
These businesses earned their main revenues from an 8% commission paid by property owners on every booking. Stayz was sold in late 2013 to US-listed holiday rentals group HomeAway for about $220 million.
Butterworth remains an active Angel investor with an interest in providing seed investments in fintech or arbitrage type business models. 
This article was first published in the Sunday Telegraph.
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Entreprenuer Justin Butterworth lists Bronte home

A who's who of Australian surfing, business and entertainment has emerged on title records following the completion of Esprit Rainbow Bay, the latest boutique beachfront apartment development by former professional surfer Paul Gedoun's S&amp;S Projects.

The completed project has attracted an enviable collection of owners, many with long-standing ties to the southern Gold Coast and the surf culture that has helped define Rainbow Bay and neighbouring Kirra for generations.

Given Gedoun's own background in surfing, it perhaps comes as little surprise that some of Australia's most recognisable surfers have chosen to buy into the development overlooking one of the country's most celebrated stretches of coastline.

Pezet Matheson directors Jayde Pezet and Todd Matheson launched the project in late 2021, and have managed the sales campaign all the way through to its sell-out and recent completion.

<img alt="Esprit" data-entity-type="file" data-entity-uuid="08fc6261-b84e-4b09-8a44-66d3067fd0d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-29%20at%208.51.05%E2%80%AFAM.png?VersionId=4AOcb6ETZwNUnMPdTtz1B3pZAIB_jgZ2" />

Former world champion Mick Fanning, who grew up in Coolangatta, secured an apartment in 2023. He paid&nbsp;$2.07 million. Last year he sold his Bilinga home for over $16 million.

Three-time world champion Joel Parkinson also purchased in the development, alongside big wave surfer Mark Mathews. Mathews bought the most expensive apartment in the building, spending just over $4 million.

Joining them is Rip Curl founder Doug Warbrick, whose company helped shape Australia's global surfing industry over the past five decades.

The appeal of Rainbow Bay has extended well beyond the surfing community.

International DJ Paul Fisher purchased an apartment through his investment vehicle, YLB Developments, an abbreviation of his trademark phrase "You Little Beauty".

The purchase comes as Fisher and his wife Chloe are developing their own luxury apartment project further north in Palm Beach. Their boutique beachfront development, Pescado, comprises just seven apartments on Jefferson Lane, which start from just shy of $6 million. The couple intend to retain the two-level penthouse as their Australian base between international touring commitments.

Melbourne Storm coach Craig Bellamy and his wife Wendy have also invested in Esprit, purchasing two apartments after spending decades holidaying on the southern Gold Coast. They also have a luxury apartment in Joe Adsett's Rockpool, less than 400m away from Esprit.

<h2>Boutique project draws owner-occupiers</h2>

Esprit launched in 2021 and sold strongly, with buyers drawn to its boutique scale, beachfront position and contemporary design.

The completed development comprises 94 apartments across 11 levels, offering expansive floorplans designed primarily for owner-occupiers rather than the investor market.

Crowning the building is Club Esprit, pitched as being the Gold Coast's first residential rooftop wellness centre. The roof features a&nbsp;25 metre magnesium lap pool, which is surrounded by wet daybeds and poolside cabanas,&nbsp;multiple barbecue areas,&nbsp;a yoga and relaxation play lawn, and a private dining room with a kitchen scullery, bar, lounges, and an outdoor terrace.

The wellness centre is&nbsp;fully equipped with a Technogym, ice bath, infra-red sauna, steam room, thermal room, and treatment room. The roof has views spanning&nbsp;Rainbow Bay, Snapper Rocks and the Pacific Ocean.

<h2>S&amp;S Projects continues to shape Rainbow Bay</h2>

S&amp;S Projects founder Paul Gedoun has become one of the key figures behind Rainbow Bay's evolution over the past several years.

After establishing S&amp;S Projects, Gedoun has focused on delivering lifestyle-driven apartment developments designed primarily for owner-occupiers seeking a permanent coastal home.

Esprit is Gedoun's third completed project in Rainbow Bay, following Flow and Awaken, both of which achieved record prices for the suburb.

He is now delivering <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, a 38-apartment development on Boundary Street that is currently selling, and has no plans to leave the precinct anytime soon. S&amp;S Projects has also lodged plans for its fifth Rainbow Bay development, an 88-apartment project on Boundary Street featuring a strong wellness focus.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">First look: S&amp;S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street</a>

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Joel Robinson

Who's who of buyers revealed as Esprit Rainbow Bay settles

Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.

The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.

The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.

Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.

“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass. 
 
“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”

He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.

Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.

The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;

New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;

Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.

"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;

NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;

Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.

For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.

Online shopping has become one of the clearest examples of that change.

Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.

For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.

That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.

<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/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe>

Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.

The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.

For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.

As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.

It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.

Apartment design is adapting to the way Australians shop

While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.

Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.

SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.

"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.

"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."

[smartcode_project:default project_id=134323 project_image_fid=367129]

Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.

Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.

Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.

The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.

[smartcode_project:default project_id=134323 project_image_fid=6393]

Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.

"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.

"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."

Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.

[smartcode_project:default project_id=134323 project_image_fid=6402]

The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.

Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.

"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.

[smartcode_project:default project_id=134323 project_image_fid=6383]

The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.

Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.

The Walden is currently under construction and is scheduled for completion in 2028.

[smartcode_project_cta:default project_id=134323]

ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

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Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

Jonathan Chancellor

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