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The Westpac chief economist, Bill Evans still thinks February could be the best time for the RBA to start cutting rates.
"I don’t think that there is any doubt that they will cut rates in the first half of this year, it is just a matter of picking the timing," he told the <a href="https://www.finnewsnetwork.com.au/archives/finance_news_network108916?utm_source=Finance+News+Network%2C+FNN+Investor.&amp;utm_campaign=781b762d88-FNN_Investor_Daily_Morning_12_01_2015&amp;utm_medium=email&amp;utm_term=0_93a5b03408-781b762d88-137686745" target="_blank">Finance News Network</a>.
"While most people are in denial that something could happen as soon as February I think February could be the best time for the bank to start cutting rates.   "The reason why February is a good time to do it, is that in February they also release their Statement on Monetary Policy and they are able to change their forecasts.
"And so, if they have cut rates at their February meeting they can provide a very detailed explanation as to why that has happened. 
"In February it will only be by about 25 basis points.
"I think we’ll see another cut this year, at the moment I favour March.
"Because I think in the second half of this year things will be starting to look better. The world economy will be starting to look a better place, particularly in China and the US.
"I think it will still be at 2%. But, by the middle of 2016 I think we’ll start to see things edging up."
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jchancellor-FAypfDUnLy

Westpac's Bill Evans still expects February and March RBA rate cuts

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Loggerheads, the trophy Hunter Valley vineyard estate last sold in 2008, has been listed with $10 million price expectations.
The Pokolbin property has wonderful provenance being the former home of the late Len Evans and before that the Tyrrell family.
It was last sold to Robin and Judy Crawford by Len Evan's widow, Trish Evans.
There's still a village-like setting at the estate which has its rambling residential homestead with three adjoining pavilions. 
The seven bedroom, six bathroom homestead is Australian Country 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.
Against the backdrop of the Brokenback and Barrington ranges, there are several outbuildings along with an imposing stone column feature, collected from the demolition of the Bank of NSW on George Street, which remain from the Evans' time.
The level, but elevated property was bought by the Evans clan from the Tyrrell family in 1971 and comes with a 35-year-old vineyard, now with about four hectares under vine.
Set in Australia’s most visited wine region, it has been listed by Alan Jurd from Jurd's Real Estate who secured its 2008 sale.
The <a href="https://jurds.com.au/listings/rural_sale-310141-pokolbin/" target="_blank" style="line-height: 1.3em;">Loggerheads</a> estate is 200 acres. 
The 87 hectare property has two road frontages, at 97 Palmers Lane and 2341 and 2347 Broke Road, Pokolbin.
The Broke Road frontage has passive rental income from a fully licensed cellar door wine sales outlet, separate residence, dairy/barn and wine storage shed.
Alan Jurd told Property Observer he expects around $6 million for the homestead holding and $4 million for the commercial lot.
"Loggerheads represents the finest example of a country lifestyle with city convenience being just two hours North of Sydney," said Shelly Jurd, the agency's rural lifestyle sales director.
There is a <a href="https://www.youtube.com/watch?v=0ohWepmCXow&amp;feature=youtu.be" target="_blank">video with the marketing</a>.
The noted bon vivant Len Evans, who died in 2006, was the long-time president of the Australian Wine Foundation, having written about wines since 1962.
He began his beverage career after he migrated to Sydney in 1958 and took a casual job as a pub glass-washer at the Ship Inn at Circular Quay.
Title Tattle recalls Evans planted Shiraz and Gammay in the vineyard.
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Loggerheads, the Hunter Valley trophy lifestyle vineyard estate listed

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Mandurah, the double-storey house designed by Wayne Gillespie on the Portsea cliff top - has returned to the market this summer with a $12 million asking price.
<a href="https://www.sothebysrealty.com/eng/sales/detail/180-l-2980-ekddf2/mandurah-portsea-melbourne-vi-3944" target="_blank">The five bedroom, five bathroom trophy home</a> has been listed by the former Hinkler Books publishing boss Robert Ungar who reportedly had unfulfilled $10 million plus hopes last summer.
It has been listed through Sotheby's International Realty agent Robert Curtain.
Ungar bought the then two-year-old house at 3820 Point Nepean Road 20 years ago with wife Rosemary.
It sold at the 1995 Australia Day weekend auction for $2,625,000, one of nine clifftop mansions at Portsea and Sorrento and Portsea to sell for above $1 million during 1995.
The Ungar's are off to a new home at Blairgowrie.
Mandurah is a 1,969 square metre holding with tennis court above Fisherman’s Beach.
Binnum, a Guilford Bell-designed home on the Point Nepean Road on the pricey Mornington Peninsula remains for sale. 
Binnum is a cliff front property with frontage to Weeroona Beach reserve.
The recently renovated home that sits within a Paul Bangay-designed garden at <a href="https://www.rtedgar.com.au/property/130801/3840-point-nepean-road-portsea/" target="_blank">3840 Point Nepean Road</a> has been offered by Mitre 10 CEO, Mark Laidlaw.
<img src="/images/2015/01/13/portsea%20jan%2012%20one.jpg" alt="">
Set on about 2,023 square metres, it is for sale (pictured above) through RT Edgar Real Estate Portsea agents Warwick Anderson and Ilze Moran.
The very private, Guilford Bell-designed 1958 Baillieu House at Sorrento recently sold for $19 million, the peninsula's highest known sale in 2014 when bought by Good Guys boss Andrew Muir and his wife Emma.
It ranks as one of 10 Victorian dwellings featured in Neil Clerehan’s important 1961 book Best Australian Houses, which illustrated cutting-edge residential design of the day.
Portsea's highest known sale during 2014 was $4 million at 3786 Point Nepean Road.
2015 Australia Day weekend auctions aren't as prevalent or as pricey this year <a href="/news/tough-prising-bids-let-alone-sales-amid-overloaded-old-and-nouveau-portsea-australia-day-auctions">as local agents realised it was not productive to overload the market</a>.
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Mandurah, the $12 million Portsea clifftop summer offering 

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Fairfax Media has finally moved to take full control of the Melbourne regional newspaper publisher, Metro Media Publishing (MMP), announcing it will buy the remaining 50% interest held by the business's foundation shareholders for $72 million.
It will pay $18.5 million in cash and issue about 68.5 million new shares at $0.78 each to acquire the interest.
Metro Media is majority owner of 15 weekly real estate and lifestyle-focused magazines and newspapers in Victoria and online property site, reviewproperty.com.au.
MMP launched the Weekly Review in April 2010, with estimates the glossy magazine took about $20 million in real estate advertising from Fairfax given backing from estate agents in Melbourne’s wealthy eastern suburbs.
The co-shareholders in the businesses are mostly real estate agents who have financial interests via Metro Media's equity structure.
Antony Catalano, founder of Metro Media, will remain chief executive of Fairfax's Domain Group property advertising unit and will have responsibility for the Metro Media operations, the company said. Antony Catalano and five management staff have all agreed to swap their equity in MMP for equity in Fairfax, MMP spokesperson John Hine advised.
Domain Group has been tipped to be floated, in whole or part, by market analysts since it became a standalone unit at Fairfax Media.
The market had anticipated the MMP buyback with estimates it would be at around $75 million.
At a June 2013 investor briefing in June, Fairfax revealed Domain had recorded revenue of $141 million in 2012-13 and earnings before interest, tax, depreciation and amortisation of $45 million. MMP contributed $81 million to the company’s real estate advertising and services business.
“Since we formed the MMP joint venture in December 2011 EBITDA has increased from $4 million in FY12 to $14 million in FY14 and is on target for strong growth in FY15," Fairfax advised today.
Fairfax Media have now spent around $175 million buying back its property advertising revenues from renegade Melbourne newspaper groups in the past 12 years.
It spent $35 million in 2011 for its initial 50% stake in MMP.
It also paid around $65 million in 2003/2004 to secure the rival publicly listed Text Media operations - whose publications included the glossy suburban newspaper The Melbourne Weekly - in a bid to shore up its classified advertising base.
"We believe this transaction will effectively mitigate the erosion of Fairfax's existing share of the Melbourne real estate listings," ABN Amro analyst Peter Shorthouse said in 2003.
Fairfax, publisher of The Australian Financial Review, The Sydney Morning Herald and The Age, said today's MMP decision highlighted its real estate advertising arm, Domain continuing its “aggressive national expansion”.
It noted MMP reaches 1 million households in Melbourne and Geelong every week via The Weekly Review magazines and Star Weekly newspapers and operates Melbourne’s fastest-growing property portal, reviewproperty.com.au.
“The consolidation of the balance of the equity in MMPH simplifies the operations of our fast-growing property services businesses, which have more than $300 million in real estate revenue,” said Fairfax chief executive Greg Hywood in a statement to the ASX this morning.
The value of the Fairfax shares to be issued is set at 78¢ per share, which is the 45-day, volume-weighted average price of Fairfax shares up to December 31, 2014. Based on that share price, total consideration is $72 million, including $18.5 million in cash.
The Fairfax shares will be issued after the release of the Fairfax half-year 2015 results in mid February.
MMP’s founding real estate agent shareholders will take 65% of their consideration in Fairfax shares.
Fairfax will issue approximately 68.5 million new Fairfax shares as part of this transaction. Post this share issue the MMPH foundation shareholders will together hold approximately 2.8% of Fairfax’s total shares on issue. 
The value of the Fairfax shares to be issued is set at 78¢ per share, which is the 45-day, volume-weighted average price of Fairfax shares up to 31 December, 2014.
The Fairfax shares will be issued after the release of the Fairfax half-year 2015 results in mid February.
“In a little over four years, hundreds of agents across Victoria in partnership with MMP have created for themselves a very substantial financial interest through their shareholdings in the MMP Group," MMP chairman, Charbel Nader said.
The AFR's Streettalk column suggested Kay &amp; Burton, Jellis Craig, ­Marshall White and Bennison Mackinnon, who were founding investors in Metro Media Publishing Holdings, each put $200,000 into the business in 2010 and have realised about $22 million in equity and cash, not including dividends.
There were numerous additions and changes in shareholdings over the years, but estate agents and estate agencies with shareholdings, of various types and various beneficial and non-benefcial holdings at times since 2010, have included Williams &amp; Co, Leigh and Valerie Hallamore, Abercromby's, Russell Turner, Gavin and Carol Fallon, Fletchers and Parker Holdings, Jeremy Fox, Thomas Buxton and Garry Quinton, Noel Jones (Glen Iris), Noel Jones (Kew), Mike Nolan's Rathnol Pty Ltd, Walker Real Estate, McLaren Real Estate Kew, Geoffrey Hall's Popes Eyes Investments, Christopher and Susan Ewart, David Gillham's Shark Cat Enterprises Pty Ltd, and Rodney Morley Persichetti.
Fendus Nominees, Duroc Pty Ltd, Zerley Pty Ltd, Parkeredis Balwyn Pty Ltd and 8 Figures Pty Ltd Hampton have ranked amid the shareholders too.
Kay &amp; Burton industry veteran Gerald Delany was a foundation director, with foundation company secretary being Norman Draper, the senior partner of the accounting firm Lawler Draper Dillon.
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Fairfax Media pays $72 million to buy back its Melbourne real estate ad revenues

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The onetime bearish strategist at Morgan Stanley, Gerard Minack, has addressed his housing market concerns in his first expansive interview since he went solo 18 months ago.
"When we get across-the-board unemployment then we’ll get an across-the-board downturn in house prices; it’s just a matter of time," Morgan Stanley’s former head of global developed markets and now publisher of Downunder Daily advised when asked by the Australian Financial Review on how vulnerable the housing market is.
"I don’t think there’s anything exceptional about our housing market, except that we’ve gone 23 years without a downturn," he added.
"Far better to take some excess out of the market now."
On monetary policy he suggested "you either get nothing or more than two [cuts]".
"If the leading indicators of employment roll over, then for me recession is the most likely outcome," Minack said.
"We have national domestic demand growth of 1%. Here in NSW it’s 4.5% while in the rest of the country it’s falling.
"We know this year that residential investment will contribute less to growth, we know car workers will start to get fired.
"We know mining capex starts to accelerate to the downside.
"The one thing that looks half-good are leading indicators of employment.
"The ANZ and ABS jobs ads, and the components of the monthly purchasing managers index, look OK.
"But if they roll over we’ve got a problem, and already we’ve seen them wobble, which is partly due to politics.
"One of the few areas of bipartisanship we’ve had over the past dozen years is both parties have agreed to be short term and second rate!"
When asked by the AFR's Patrick Commins what are the big global risks, Minack pointed to central bank credibility.
"If (European Central Bank president Mario) Draghi was a stock he’d be on a P/E of 200! (US Fed chair Janet) Yellen’s on 100.
"When that bubble pops, all hell will break loose again, and there you really just want to be in cash."
In October, Minack said while many people have been wrong calling a collapse in the Australian property market, he still saw the sector, along with investing in the major banks, as great risks to the economy in the year ahead.
“Australia has not had a housing bubble blow-up or a recession but let’s not forget at other times [market bears] have made money from it, so they are willing to give it another go.
"My advice is . . . I think it is a little too early. I think down the track this will be a problem.
"I’m not so sure you look for this to be a problem in Australia on a six-month view,” said Minack.
Minack's comments came just ahead of ANZ announcing its latest survey showed job advertisements rose a further 1.8% m/m in December to record their seventh consecutive monthly rise (in seasonally adjusted terms). 
Job ads have now trended higher for 14 months and are up 11.4% over the year to December.
The ANZ chief economist Warren Hogan said the data was an encouraging sign that labour demand was firming. 
"Annual growth in job advertisements is now at 11.4%, a moderate rate by historical standards but the fastest rate in over 3½ years. 
"The improving trend in job ads appears to be at odds with the official employment data which continues to depict a rising unemployment rate. 
"In all likelihood, this divergence can be explained by a higher than usual rate of job losses in the economy. 
"The good news is that the economy continues to produce new employment opportunities.
"The bad news is that this has not been quite enough to counteract the flow of new workers into the economy plus the on-going loss of jobs in certain sectors.”
“As a result labour market conditions can be described as soft which will continue to cap wage increases.
"Together with the recent decline in oil prices, this will feed through to relatively subdued inflation outcomes through 2015.
"For monetary policy, the most likely course remains for the RBA to keep rates in a holding pattern for most of 2015.
"However a softer inflation outlook suggests the RBA could have a little more wriggle room than previously anticipated to support business and consumer confidence.
"Right now we think the best course of action is for the RBA to maintain a steady hand on interest rates. 
"But with global energy costs falling substantially, and inflation likely to be lower than previously thought, there is increasing scope for Australian interest rates to fall a little over the first half of 2015,” Warren Hogan said.
 
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Unemployment the key in 2015 house price direction: Gerard Minack

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Mortgage Choice announced the appointment of John Flavell as its chief executive officer, set to join the company in April 2015.
He comes from National Australia Bank’s MLC where he is the executive general manager, wealth advice, with more than 20 years experience in executive leadership positions and 15 years in financial services.
Flavell has held senior roles at Aussie Home Loans where he was part of the executive team responsible for the successful transition of the business into mortgage broking.
Mortgage Choice’s current chief executive officer Michael Russell will work alongside Flavell in a transition phase and then depart the business at the end of the 2014/15 Financial Year.
“While I cannot wait to start in my new role, I am going to take a break for a little while to spend some time with my three daughters," Flavell said on his Christmas Eve appointment announcement.
"I will then come back fresh in April and ready to work closely with Michael and the executive team on accelerating the business for further success in 2015 and beyond.”
Russell joined Mortgage Choice as CEO in 2009, developing two three-year plans to expand the company.
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John Flavell appointed to succeed Michael Russell at Mortgage Choice

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Sydney Kiis FM radio breakfast broadcaster Kyle Sandilands sold his five bedroom St Ives home late last year.
<a href="https://chadwickrealestate.com.au/4728501/39-Bundabah-Avenue-St-Ives" target="_blank">The 39 Bundabah Avenue</a> house had been listed through Chadwick Real Estate with $3 million hopes, achieving $2.9 million.
The now empty, two storey home on 1,600 square metres was bought in 2008 for $1.9 million, shortly before his marriage to pop singer Tamara Jaber.
Kyle Sandilands now rents acreage in <a href="/news">Ingleside</a> with girlfriend Imogen Anthony.
CoreLogic RP Data puts the <a href="/news">St Ives median house</a> price at around $1.32 million. In 2008 it was sitting in the $900,000s.
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Shock jock Kyle Sandilands secures snappy St Ives home sale

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Namatjira, former champion surfer Wayne Lynch's Victoria coastal family haven, has been sold for $3.5 million.
<a href="https://www.realestate.com.au/property-house-vic-anglesea-115707943" target="_blank">The Great Ocean Road property</a> sits about halfway between Anglesea and Airey's Inlet at Urquhart Bluff, on the Surf Coast locality.
Married to Lindy with two children, Jarrah and Merinda, <a href="https://www.hayden.com.au/view.cfm?OID=6486901&amp;tp=432_view" target="_blank">Namatjira</a>, has been in the family for 35 years. The property was registered in the name of Allan Lynch.
Lynch, who is a surfing ambassador for surfwear brand Patagonia, was reportedly considering a move to the NSW north coast of NSW.
The three-level house with expansive coastal views sits on 4.45 hectares of protected natural bush on the Great Ocean Road.
There is a three bedroom house plus separate three-bedroom bungalow.
It has been bought by Clapmore Pty Ltd, a company associated with Andrew Grech, the managing director at Slater &amp; Gordon and his wife, Daniela.
Slater's lodged the paperwork for the transfer in the days before Christmas 2014.
Marius Tekin, of Hayden Real Estate, listed it for $3,995,000 in January last year.
It was initially listed at $5.5 million in 2010.
CoreLogic RP Data puts the Anglesea median house price at $640,000, just below <a href="/news">its 2011 peaks</a>.
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Surfer Wayne Lynch's coastal Anglesea family estate Namatjira sold

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The two Sydney municipal districts experiencing the highest annual increases in median residential land values were Willoughby (up 37% to $1.08 million) and Bankstown (29.4% up to $519,000).
Their increases were more than double the overall 13 percent statewide residential increase, thereby possibly tipping further investors into the land tax web which applies to investment property with a value above the revised $432,000 threshold.
The NSW State Government threshold applies to the combined investment property portfolio of individual investors, businesses and SMSFs, excluding principal place of residence. 
Highlighting the Sydney property price momentum, Hornsby (up 25.3% to $554,000), The Hills Shire (24.4% to $504,000), Canterbury (21.4% to $438,000), Marrickville (19.9%), Warringah (19%) and Manly (18.6%), the electorate of the State Premier, Mike Baird, also had above average increases. Leichhardt was up 17.4 per cent.
Overall residential land values for NSW increased by 13 per cent in the 12 months to 1 July 2014, compared to a 3.2 per cent increase for the year to 1 July 2013.
The escalation follows several years of relatively flat valuations.
The valuation surge has pushed a further four Sydney local government areas (LGAs) into the $1 million plus category for median residential land value.
Waverley, Hunters Hill, Willoughby and Manly have joined Mosman and Woollahra.
The pricey eastern suburbs regained the crown from the lower north shore as Woollahra overtook Mosman, becoming the LGA with the highest median residential land value of $1.4 million (a 13.8% increase from 2013). 
With the slowest growth among Sydney metropolitan LGAs of 6.9 per cent, Mosman median land value stands at $1.39 million, but still someway ahead of Waverley ($1.12m), Hunters Hill ($1.09m), Willoughby ($1.08m) and Manly ($1.05). North Sydney and Lane Cove just fall short of the million dollar median value.
North Sydney and Ryde were the only other LGAs that recorded growth of less than 10 per cent (9.6% and 9.2% respectively). 
No metropolitan LGAs recorded negative growth. 
The biggest overall market trend has seen increases for land values predominantly occur in the Sydney basin. 
The major non-metropolitan centres showing the highest residential median land values were Newcastle ($255,000) and Wollongong ($248,000).
Newcastle recorded the greatest growth in median residential land values over the 12 month period at 10.4 per cent, followed by Wyong with growth of 9.1 per cent. 
A number of regional LGAs performed strongly including Gilgandra (an increase of 30%), Coonamble (20%), Oberon (20%), Dubbo (19.4%), Newcastle (10.4%), Bathurst Regional (9.6%), Wyong (9.6%) and Kiama (9.5%).
LGAs close to Canberra had the highest median land values of inland centres, with Queanbeyan ($266,000) the highest followed by Yass Valley ($172,000). 
A total of 22 LGAs in the state experienced a decrease in median residential land values for the 12-month period, with the largest decrease experienced in Cobar ($23,200) with the median residential land value dropping by 10 per cent. Five other inland LGAs experienced negative growth of five per cent or more in median residential land values, Broken Hill ($17,600), Tumut ($66,500), Guyra ($53,400), Moree Plains ($36,900) and Griffith ($79,500).
There was no change at other lgas including the Eurobodalla median land value of $155,000 and Shoalhaven’s $158,000.
The value of all land in NSW has increased by more than 11 per cent, exceeding $1.12 trillion, in the 12 months to 1 July 2014, according to new figures released by NSW Valuer General, Simon Gilkes, who replaced Philip Western, who endeavoured to make a start at ridding the system of its many flaws during his 11 year term. Simon Gilkes, the deputy General Manager and Director, Valuation Services, Land and Property Information, is the acting Valuer General. 
As part of the 1 July 2014 valuation program, the LPI Department assessed almost 2.5 million residential, rural, business and industrial land values for properties in NSW across the 152 lgas.
Valuers analysed over 43,000 property sales across NSW to determine the 1 July 2014 land values; with specific property sales the most important factor considered when determining fresh land values.
Every year approximately one third of Local Government Areas (LGA) receive new valuations to assist with setting rates. Ku-ring-gai, the Hills and Leichhardt will use the updated data when setting rates in 2015.
Some 882,000 Notices of Valuations are being sent to landholders in 45 LGAs this month, showing the value of properties based on market conditions as at July 1, 2014.
The 45 councils will review their rates model for this year based on the new land values.
Land values are one of the factors councils will use set each landholder’s rates.
“Increases or decreases in land values do not necessarily lead to similar increases or decreases in rates.” Mr Gilkes said.
The land values were prepared by valuers contracted from 17 firms across the state. 
“The values are then subject to rigorous quality assurance including statistical testing by the University of Western Sydney,” he said. 
“For 1 July 2014 residential land values in more than 94 per cent of LGAs met or exceeded internationally recognised measures of consistency and accuracy. 
“We are also improving our information to the community and making it easier for landholders to raise concerns and understand how their issues are being addressed.” 
Landholders concerned about their Notice of Valuation can have it independently reviewed by lodging an objection.
About 0.1 per cent of Notices of Valuation required amendment following the 2013 valuations. 
However the NSW Parliament's last two inquiries into the valuation system found the existing processes associated with land valuation objections, valuations for just terms purposes and related objection processes remained "unfair and inadequate." 
Landholders have 60 days to request a review of any land value on the Land Tax Assessment from the date it was issued. Land tax clients cannot object to their average land value.
Objections must be based on individual land values that appear on the land tax assessment. Land tax clients may object to all three years' land values, upon the receipt of their land tax assessment.
Land value is the value of the land only, and does not include improvements such as the houuse or other structures. But it thereby nabs investors with houses on land more so than investors with units in apartment blocks. For strata units, the land value for each individual strata lot is calculated on a proportional basis using the unit entitlement for each lot and the aggregate for the strata scheme. 
<a href="https://www.apps08.osr.nsw.gov.au/erevenue/calculators/landtax.php#anc_calc" target="_blank">Land tax is $100 plus 1.6 per cent of the land value of investment properties above the $432,000 threshold</a>, which jumped from $412,000 in the past year.
Land tax is applied to the value of any property owned or jointly owned that is above the land tax threshold as at midnight on December 31. A landholder with one or more parcels of taxable land (such as investment properties, holiday houses or commercial premises), may be liable for land tax if the total value of land exceeds the land tax threshold.
Values are determined as at 1 July, preceding each land tax year. 
The latest 2014 valuations are being posted online over the next month, with the Valuer General allowing NSW property owners to conduct five <a href="https://www.valuergeneral.nsw.gov.au/your_land_value/land_value_search" target="_blank">free online valuation searches</a> following <a href="https://shop.lpi.nsw.gov.au/wps/portal/lpma/lpi-shop/land-values/register/!ut/p/b1/04_SjzQyMDAwNDI2NzDWj9CPykssy0xPLMnMz0vMAfGjzOKDnZxCTR0NzQwNzJ1dDDwNzfxMnEMNvVw9zfWDU_P0c6McFQF2_pit/" target="_blank">registration</a>.
Hardly sufficient as since 2007 and subsequent tax years, the value used to determine land tax liability is the average of the land value for the current tax year and the land values for the previous two years, each of which is available one at a time.
News Ltd papers estimated the average land tax bill in the City of Sydney will increase from $2212 in 2014 to $3,300 this year.
It estimates the land tax bill for the investor owner of an average plot of land in Willoughby will rise from about $6000 in 2014 to around $10,000 this year. 
 
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Willoughby, Bankstown and Hornsby property investors face higher land tax bills

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The Australian Securities and Investments Commission (ASIC) says it is determined to continue its crackdown on loan fraud to ensure consumers can have trust and confidence in the lending industry.
ASIC was responding to <a href="/news/asic-called-to-explain-alleged-110-million-myra-home-loans-broker-fraud-supervision-delays">m</a><a href="https://propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/39184-asic-called-to-explain-alleged-110-myra-home-loan-broker-fraud-supervision-delays" target="_blank">edia articles today</a> that reported on ASIC’s investigation of an alleged $110 million loan fraud which resulted in conspiracy charges against two men late last week. 
"Those articles, which are critical of ASIC’s work, are inaccurate and speculative," ASIC stated. 
"ASIC is strongly committed to transparency in our enforcement and regulatory work, as demonstrated through the publication of regular enforcement reports.
"However, there are very good reasons why we can only provide limited details on criminal investigations and matters before the court.
"It is important for the public to understand the reasons."
Property Observer notes ASIC's response did not address the issue of the four day gap when it appeared it failed to move against the mortgage broking licence accreditation of one of the alleged fraud participants after the bail appearance.
The Melbourne man arrested after an alleged $110 million mortgage fraud, Aizaz Hassan, was capable of writing loans until his accreditation was stopped on Tuesday this week, 6 January 2015.
But Hassan had appeared before a bail justice on 2 January 2015, bailed on conditions including that he report to police twice a week, surrender valid passports or any other valid travel documents and not apply for any other, not attend any points of international departure and not leave Australia.
<a href="https://www.theaustralian.com.au/business/financial-services/mortgage-fraud-accused-kept-on-broking/story-fn91wd6x-1227177753148" target="_blank">The Australian</a> reported several other concerns including ASIC not flagging the investigation with his current employer.
ASIC advised its investigation into the allegedly fraudulent loans arranged by Myra Financial Services had been conducted by ASIC over several years.
"It has necessarily been a long, complex and at times extremely sensitive operation.
"There are some important parts of the investigation which we are not able to divulge.
"While we understand the frustration that this may cause the media, there are very good reasons why ASIC, and other law enforcement bodies, have significant restrictions on what we can disclose in such matters.
"In some matters such disclosure could jeopardise the entire case.
"In others it could put people at risk. During an investigation the premature public release of information could result in evidence being destroyed by an accused.
"And there are important legal restrictions on the information we can make public.
"We are expressly required to maintain the confidentiality of information we obtain in connection with the exercise of our functions (s 127 ASIC Act)."
ASIC advised another issue that all law enforcement agencies face was deciding the scope of the case.
"Najam Shah and Aizaz Hassan have each been charged with conspiracy to defraud.
"Decisions regarding the nature and scope of the charge have been made following extensive investigation and forensic analysis.
"ASIC, like other law enforcement bodies, does not as a rule flag an impending arrest to an employer (or, for that matter, to other related parties).
"To do so would increase the risk of the person of interest being tipped off, even if this was inadvertent.
"It would potentially place the employer in a compromised position.
"For example, the employer may wish to suddenly treat the employee differently – perhaps even sack them.
"How could this occur without affecting the confidentiality of the investigation?
"How many people in the employing organisation should be told?
"The decision to seek orders from a court to restrict a person’s travel movements is not taken lightly, and court orders are not obtained routinely.
"Importantly, it is not ASIC that decides if an individual is to be prevented from travelling. That decision that can only be made by a judge once an application has been successfully made to a court, which includes giving the affected person the right to respond.
"In short, ASIC has followed common and carefully developed principles in its investigation and legal actions in the Myra case."
</body></html>

ASIC defends its $110 million Myra Home Loans alleged fraud investigation timetable

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

Jonathan Chancellor

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