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Music industry veteran Graham Hutchison’s mansion at Carrara has been sold for $7.16 million to a Chinese buyer some six years after its listing.
It is a large Queensland riverfront estate at <a href="https://www.realestateview.com.au/Real-Estate/30-32-maryland-avenue-carrara/Property-Details-buy-residential-7422655" target="_blank">30-32 Maryland Avenue</a>. It was listed through the Lucy Cole, Ray White and Harcourts agencies.
The property has a pool, tennis court, gym and pontoon. 
It sold to Prosper Holdings Pty Ltd, which is associated with Stanley Chan. 
The Gold Coast Bulletin lists the sale as the third-highest for 2014 after 60 Admiralty Drive, Paradise Waters, which sold for $8.7 million and 72-74 The Sovereign Mile, The Sovereign Islands, which sold for $7.25 million.
The Sunshine-bound Hutchison bought the property in 2003 for $1.79 million and spent $1 million on renovations to the property in 2012.  
The 8,029 square metre block with 75 metre river frontage contains a 929 square metre two-level residence.
Hutchison was quoted in July this year in the Gold Coast Bulletin stating his property had recently attracted Chinese buyers.
“The Chinese love it because it’s huge, the two numbers (30 and 32) add up to eight ... you can land a helicopter and keep two horses." 
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jchancellor-FAypfDUnLy

Chinese buyer spends $7.1 million on Carrara riverfront

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Deutsche Bank economists have tipped the RBA will cut rates by half a percentage point in 2015.
The cuts would take the cash rate from current historic lows to 2%.
The Deutsche Bank economists previously forecast rates steady until at least mid-2016. 
They forecast the first rate cut late in the June 2015 quarter and then again late in the September quarter, or early in the next quarter.
Higher unemployment prompted the Deutsche Bank forecast given they expect unemployment to peak at around 6.75% in 2015, up from 6.2% now, levels that would “ordinarily be consistent with interest rate reductions”.
“What has prevented us, until now, from actually forecasting rate cuts has been the strength in the housing market – in particular house price growth and the degree of investor activity,” the report said.
The recent “nascent signs” of easing in housing market price growth and prospect of regulatory measures to improve the quality of lending should ease the RBA's concerns, they added.
“As always, there are risks to any economist’s view,” they reported.
“In this case the key risks would appear to be a stronger labour market that we expect, or an absence of moderation in parts of the housing market. Obviously, a much weaker AUD could also, in the absence of further declines in the terms of trade, negate the need for rate cuts.”
The DB chief economist Adam Boyton believes the strength in the housing market that has been supporting the economy is easing.
"When we combine that with our expectations for the unemployment rate - which is that it will rise all the way through next year - all that suggests to us that there is scope for the RBA to cut rates further," he <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-12-02/rates-set-to-equal-longest-period-of-stability-since-mid-1990s/5933350" target="_blank">told ABC News</a>.
But both the RBA and APRA will want to see more house price data before they are satisfied that house price growth has slowed to a more sustainable pace, Phil O’Donaghoe, at Deutsche Bank, told The Wall Street Journal.
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Deutsche Bank tips two rate cuts in 2015 as house price growth eases

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Australia's close links to Asia, the fastest growing part of the world economy, was reason to be confident of the economy's future strengths, according to Philip Lowe, Deputy Governor of the Reserve Bank of Australia.
He noted exports to Asia are up by around 30% over the past five years in his address to the recent Australian Business Economists' annual dinner.
Speaking on factors affecting the national psyche and weigh on the national economic mood, Lowe stressed the Australian economy does have the foundations for a successful and prosperous future.
"How well we take advantage of those foundations depends increasingly on investment not in physical capital, but in human capital."
"I sense a degree of nervousness about our future among some commentators who sometimes ask: what happens to Australia after this mining boom is over?; how can Australian businesses compete internationally given our high costs?; and, where will the jobs come from in the future?
"These are all good questions," he said adding uncertainty was normal. 
"Given this, it is important that we guard against the possibility that this uncertainty mutates into chronic pessimism – that is, for it to become normal for us to think that our prospects are limited.
"If this were to become our normal mindset, then we would be well on the way to finding ourselves in the very world that we feared.
"We certainly have a number of strong foundations that provide the basis for this optimism. The question is how well we can use those foundations over the years ahead," adding he wanted to focus on the people-to-people relationship.
"Currently, around 8% of the Australian population was born in east and south-east Asia or India (Graph 1 below).
"This is up from less than 1% of the population around the time that I was born.
"In comparison, in the United States, only around 3½% of the population was born in Asia and for most European countries the figure is below 2%."
Graph 1
<a href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph1.gif" target="_blank" title="Link, opening in a new window, to larger image."><img src="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph1-small.gif" alt="Graph 1: Population Born in Asia" title="Graph 1: Population Born in Asia" width="373" height="322"></a>  <a class="displayNone" href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph1.gif" target="_blank" title="Link, opening in a new window, to larger image.">Click to view larger</a>
"There are also large numbers of students from Asia studying in Australia," Lowe said.
"Currently there are around 150,000 Chinese student enrolments at Australian educational institutions, more than double the number a decade ago (Graph 2 below).
"There are also large numbers of students from India, South Korea, Malaysia, Thailand, Vietnam and Singapore.
"All up, there are more than a quarter of a million Asian students studying here.
"In time, these students will add to the already vast network of our alumni across the region."
Graph 2
<a href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph2.gif" target="_blank" title="Link, opening in a new window, to larger image."><img src="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph2-small.gif" alt="Graph 2: Chinese Student Enrolments" title="Graph 2: Chinese Student Enrolments" width="373" height="311"></a>  <a class="displayNone" href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph2.gif" target="_blank" title="Link, opening in a new window, to larger image.">Click to view larger</a>
"The strong people-to-people linkages can also be seen in the broader data on international short-term arrivals (Graph 3 below)," he noted.
"At the moment, more than 250,000 citizens from Asia are travelling to Australia every month, with arrivals from China reaching nearly 80,000 a month.
"As is evident from the graph, these figures have grown very strongly over recent years.
"There has, of course, also been very strong growth in the number of Australians travelling to Asia for both business and leisure."
Graph 3
<a href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph3.gif" target="_blank" title="Link, opening in a new window, to larger image."><img src="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph3-small.gif" alt="Graph 3: Short-term Overseas Arrivals to Australia" title="Graph 3: Short-term Overseas Arrivals to Australia" width="374" height="288"></a>  <a class="displayNone" href="https://www.rba.gov.au/speeches/2014/images/sp-dg-251114-graph3.gif" target="_blank" title="Link, opening in a new window, to larger image.">Click to view larger</a>
"Taken together, this deep and growing people-to-people engagement is an increasingly important national asset," he said.
"It helps us better understand the most dynamic part of the global economy.
"It promotes goodwill and can help identify cross-border business opportunities.
"Some of the students studying here will hopefully become ‘champions’ for our country when they return home.
"Others will remain here and use their knowledge and relationships in their country of birth to build new and stronger business ventures between our countries," he noted in the aim of achieving a highly productive, globally competitive economy that is operating close to, or at, full employment.
"Such an economy would be characterised by: a national currency with sustainably high purchasing power; sustainably high real wages; and sustainably high real returns on capital.
"High purchasing power and high wages mean that for each hour that we work we are able to buy more goods and services.
"And high returns mean that savers get rewarded when they take a risk or defer their spending and save for the future," Lowe noted.
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Vast alumni across Asia is one of Australia's economic strengths: RBA

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The proportion of interest only loans from banks hit 42.5% in the September 2014 quarter, up from 35% of investor loans early last year. APRA's quarterly data comes as the Reserve Bank of Australia warns lending practices such as interest only loans indicate risks to banks were increasing. But the data showed the second risk factor noted by the RBA - loans with loan to valuation ratios of more than 90% - may be easing. Loans of this type represented 12% of new business in September down from 15% in the early part of 2013.
The recent study by Reserve Bank of Australia researchers urges both lenders and regulators to be watchful before borrowers get into trouble.
The study looked at which home borrowers, and which types of home loan, ended up falling more than 90 days behind on payments.
The findings of the research were the views of its authors, Matthew Read, Chris Stewart and Gianni La Cava, rather than the official RBA view.
Its key findings:
<ul>
<li>The higher the loan is as a proportion of the property value when the loan is taken out, the greater the chance the borrower will fall behind.</li>
<li>
The probability of falling behind is particularly high for loans greater than 90% of the property valuation.
</li>
<li>The probability of a loan going into arrears is lower for loans that are repaid relatively quickly.</li>
<li>Low-documentation loans are more likely to go into arrears.</li>
<li>The higher the starting interest rate, the higher the chance the loans will go into arrears (probably because banks charge higher rates for borrowers they see as riskier, the authors say).</li>
<li>The probability of missing a mortgage payment is particularly high for households with relatively high repayments compared with their incomes.</li>
</ul>
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Interest only loans soar as LVR concerns ease for RBA

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Mirvac Group has announced the appointment of Christine Bartlett and Samantha Mostyn as non-executive directors on the Mirvac board.
It takes the number of women on the eight-person board to four, including its CEO Susan Lloyd-Hurwitz.
It coincides with a report from EY Australia and the Property Council that found that by failing to embrace gender diversity, the Australian property industry was missing out on an important opportunity to lift its financial performance.
<a href="https://www.ey.com/AU/en/Industries/Real-Estate/EY-gender-diversity-in-the-property-industry" target="_blank">The report</a>, entitled The next big deal is on: Property industry, where are you on gender diversity, tracks the industry’s performance on the gender ‘smart curve’ and provides analysis and recommendations for the sector to improve its score.
Property Council of Australia chief executive, Ken Morrison said gender diversity in the workplace made good business sense, adding the property industry has proven its credentials when it comes to embedding safety, technology and sustainability across the sector. 
"The same sharp focus now needs to expand to also address gender equity,” Morrison said.
Mirvac, which is chaired by John Mulcahy, was one of 16 ASX 200 companies noted in 2013 to have truly embedded the principles of gender diversity and was rated a green light in the Women on Boards 2013 Traffic Light Index.
“I am pleased to welcome Christine, who has a wealth of executive experience, and Sam, who brings significant executive director experience, to the Mirvac Board," Mulcahy said.
“Christine has a strong corporate background, having held senior executive positions for a number of large organisations in the information technology, finance and property sectors, while Sam is an experienced executive and company director in organisations that span corporate and government sectors.
“Their vast skills and knowledge across a number of industries means they are well-equipped to provide valuable insight to the board and management, who are focused on understanding the role property has to play in a rapidly changing world.
“The appointment of Christine and Sam complements the skills of our existing Board members and increases the number of directors to eight, which we believe is an appropriately sized board for the scale and complexity of the Mirvac Group.” 
Bartlett’s appointment was effective yesterday and Mostyn’s appointment will be effective on 1 March 2015.
Bartlett is currently the executive general manager, asset servicing at National Australia Bank (NAB). Prior to this appointment, Bartlett was the executive program director, NextGen at NAB. She has also held positions as chief executive officer of Jones Lang LaSalle Australia and chief operating officer for IBM's Business Consulting Services in the Asia Pacific region. She is a director of The Smith Family and a member of the Australian School of Business Advisory Board, Chief Executive Women and the Australian Institute of Company Directors.
Mostyn is a non-executive director and corporate advisor, and is currently a non-executive director of Virgin Australia, Transurban Holdings Ltd and CoverMore Limited. She also serves on the Citigroup Pty Ltd (Australian Operations), Climate Council, Climate Works Australia, the Advisory Board of the Crawford School of Government and Economics at the Australian National University and is the President of the Australian Council for International Development. She is deputy chair of the Diversity Council of Australia, and has served as an AFL Commissioner since 2005. Prior to assuming company directorships, Mostyn held senior executive positions at IAG, Optus and Cable &amp; Wireless Plc. 
Diversity has been a major focus area for Mirvac since it introduced a policy in 2011. In July this year, Mirvac was one of six companies to receive the highest rating in the BlackRock report on gender diversity. 
Its gender diversity targets were to achieve having 35% female representation on the Mirvac board, now met, and in senior executive positions by the end of the 2015 financial year, currently at 34%.
Mirvac's existing board members included Elana Rubin who was appointed in 2010. Elana is a director of several NAB life insurance and asset management subsidiaries, a director of PPB Advisory, and a member of the federal government’s Infrastructure Australia Council, the Qualitas Properties Advisory Board and the Victorian Council of the Australian Institute of Company Directors.
Marina Darling resigned on 24 January 2014 after two years. 
The total women in Mirvac workforce (FTE) target by 2015 is 50%, but currently sits at 39%.
The Property Council launched Male Property Champions of Change was set up recently to take up the challenge of gender diversity in the industry.
The group, convened by Carol Schwartz, is made up of chief executives and chairmen in the property industry including:
<ul>
<li>Angus McNaughton, Novion</li>
<li>Bob Johnston, Australand</li>
<li>Darren Steinberg, DEXUS Property Group</li>
<li>Daryl Browning, ISPT</li>
<li>David Southon, Charter Hall</li>
<li>David Woolford, Cushman Wakefield</li>
<li>John Kenny, Colliers International</li>
<li>John Mulcahy, Mirvac Group</li>
<li>Jonathan Callaghan, Investa Property Group</li>
<li>Mark Steiner, Stockland</li>
<li>Paul McLean, Savills</li>
<li>Peter Allen, Scentre Group</li>
<li>Stephen Conry, JLL</li>
<li>Stephen Ellis, Knight Frank</li>
<li>Steve McCann, Lend Lease</li>
<li>Steven Leigh, QIC</li>
<li>Steven Sewell, Federation Centres</li>
</ul>
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Gender diversity key in Mirvac's two new board appointments

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Developer Elias Jreissati's bespoke foreshore penthouse at Port Melbourne has returned to the market with a new video marketing campaign.
The listing through Kay &amp; Burton agent Ross Savas also its own website, <a href="https://www.thepenthousemelbourne.com/" target="_blank">thepenthousemelbourne.com</a>.
The campaign has been co-ordinated by GoldenEye Media.
Its $18 million plus asking price derives from it being 1,040 square metres over three levels - 18, 19 and 20 - atop the HMAS Lonsdale building (pictured below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/rouse.jpg" alt="rouse" width="470" height="353">
Designed by architect Nonda Katsalidis, the Rouse Street property comes with five bedrooms and five bathrooms, plus a kitchen on each level.
191/85 Rouse Street has bay and city skyline views, perhaps the city's ultimate entertainer's residence with five balconies and two large landscaped rooftop areas 400 square metres in size.
The penthouse includes five bedrooms, seven bathrooms, two kitchens, an internal lift between the three levels, a two-storey 100-square-metre living room, an executive wing, a 1,800-bottle wine cellar and seven carparks.
Title Tattle ranks the $19.36 million sale of the 11th floor, 150 Clarendon Street, East Melbourne, complex as the national record holder, and it was a little higher after inclusions.
It sold in 2008 to a Hong Kong holding company, directed by Margaret Lou, the little-known businesswoman born in Tianjin, China. 
It is the same building where there is currently a seven-bedroom apartment space on the eighth floor (pictured below) on the market with<a href="https://dinglepartners.com.au/listing/?listing_id=1403" target="_blank"> a US$20 million-plus asking price</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/12/02/east%20melbourne%20dec%202%20one.jpg" alt="">
The 150 East building offering is set to smash the record price for a Melbourne apartment at its current pricing.
The eighth-storey unit at 150 Clarendon Street, East Melbourne, was listed<a href="https://www.domain.com.au/property/for-sale/apartment-unit-flat/vic/east-melbourne/?adid=2011580160&amp;sp=1" target="_blank"> </a>last month by the Tregonning family.
Measuring nearly 1,000 square metres, the offering is available through Dingle Partners agent Anton Wongtrakun.
It can be used as three separate apartments with their own current entrances, or one large residence.
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$18 million plus hopes for HMAS penthouse at Port Melbourne 

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Los Angeles based landscape designer and reality TV host Jamie Durie has withdrawn his hillside Bilgola, Sydney trophy home from auction tomorrow night.<a href="https://www.domain.com.au/property/for-sale/house/nsw/bilgola-plateau/?adid=2011418712" target="_blank"> </a>
The 614 square metre holding was bought in 2003 for $1.3 million, with architect Walter Barda then commissioned to build <a href="https://www.domain.com.au/property/for-sale/house/nsw/bilgola-plateau/?adid=2011418712" target="_blank">t</a><a href="https://www.domain.com.au/property/for-sale/house/nsw/bilgola-plateau/?adid=2011418712" target="_blank">he four-bedroom residence</a>.
It comes with gym, pool, sauna, rooftop deck and yoga room overlooking the beach, designed to look like a whale. An observation deck is the shape of a whale stomach, with the zinc roof in the style of a whale’s tail.
Advertised as Avalon Beach, Bill Eames, of LJ Hooker Avalon has the<a href="https://avalon.ljhooker.com.au/CJRF58" target="_blank"> 3 Plateau Road, Bilgola</a> private treaty listing with Christies International agent Ken Jacobs. The auction has been postponed, likely into the new year, Bill Eames advised Property Observer, adding it would be a terrific toe hold into the northern beaches by any expatriate intending to buy over summer.
It is too big as a bolt hole for the constantly travelling Durie, who intends to downsize in Sydney when it is sold.
No price guidance was being given on its early September marketing, but there were reported ambitious $4.4 million plus record hopes.
Since the Durie listing another hillside Bilgola property has also been listed which confidently expected to set the non-waterfront record price.
Liquidator Ian Ferrier and Joanne May have their Iain Halliday-redesigned four bedroom Bilgola residence, the Stone House listed hoping to beat the suburb's non-waterfront record, set in the valley in April last year at $4.4 million at 7 Bilgola Avenue.
Built in 1927, <a href="https://www.realestate.com.au/property-house-nsw-bilgola-118188419" target="_blank">the sandstone landmark</a> (pictured below) retained its original stone walls, casement windows and curved ceilings during its BKH redesign.
The Wollombi Road house was bought by Ferrier and May in 2001 for $2.1 million with an adjoining 1200 square metres added for $725,000 in 2002.
The Stone House is listed through Sotheby's Michael King.
<img src="/images/2014/12/02/bilgolga_0000_1.jpg.jpg" alt="">
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Jamie Durie's Bilgola trophy home withdrawn from auction

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There were three bidders when 37/89-91 Hughes Street, Cabramatta went to weekend auction.
The first floor recently renovated 61 square metre two bedroom apartment fetched $351,000.
The 1974 built apartment was marketed as an entry level perfect home for first home buyers or an ideal investment with potential rent of $320 per week.
<a href="https://www.domain.com.au/property/for-sale/apartment-unit-flat/nsw/cabramatta/?adid=2011571207" target="_blank">Peter Ly of Raine &amp; Horne Cabramatta</a> told Property Observer it sold to an investor. 
It last sold in 1998 at $66,000, reflecting 10% annual growth over the 16 years.
 <img src="/images/2014/12/02/cabramatta-dec-2-two.jpg" alt="">
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10% annual growth as Cabramatta unit sells as $351,000 weekend cheapie

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We know the rate of price growth continues to slow, but the most telling data in the latest November figures CoreLogic RP Data, was the slowing in growth for Sydney apartments.
Sydney continued to drive capital city growth in November, with house values up 14.3% on an annualised basis.
It was running at 14.9% two months ago. It was 15.2% during 2013.
But the apartment segment is nowhere near as strong.
Apartment values in November were up 8.7% over the past year.
But two months it was running at 11.5%. It was 11.6% during 2013.
It is fair to say most Australian cities have now passed their cyclical peak periods.
Sydney's house median sits at $825,000, up from $775,000 at the end of 2013.
Apartment median sits in Sydney at $605,000, up from $557,000 at the end of 2013.
Overall the national capital city average annualised growth for houses has been 8.9% compared to 5.9% for apartments.
Of course let's not forget that just three year ago units were the faster movers in 2012, which was overall pretty ordinary for growth with Sydney house prices up 1.3% annually and units up 2.3% annually.
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Sydney apartments the weaker link for late 2014 price growth: CoreLogic RP Data

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As this year’s calendar clicks into December, the jacaranda season draws to a close with purple trademark trees turning green across Australia’s east coast.
The onset of flowering Jacarandas signifies the peak of the spring property market, and their disappearance indicates Christmas is nigh. 
For the past two months, flashes of lilac from trees in full bloom have been a familiar sight across Sydney where the season was even more impressive than the glorious 2013 flowering period, note our Jacaranda enthusiasts, Jonathan Chancellor and Margie Blok.
This week they seek out late season property listings at Grafton, the NSW north coast town known for its annual Jacaranda Festival celebrated in late October - this year was its 80th anniversary.
HE SAID:<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" width="130" height="195" style="float: right;">
It’s no secret I’m an unabashed fan of these magnificent trees – but at a distance for I’m not fond of the fallen mess made especially after rain. 
Hence, my first selection of <a href="https://www.realestate.com.au/property-house-nsw-south+grafton-118510139" target="_blank">108 Through Street, South Grafton</a> – a gorgeous hardwood three bedroom, two bathroom cottage positioned across the road from the Clarence River. Lucky for me, the Jacaranda is conveniently growing next door.
Listed for sale through Ryan Creed of Elders Real Estate Grafton, the property has an asking price of $310,000, and its recent rental appraisal is $290 per week…river breezes included. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/12/01/grafton%20dec%201%20two.jpg" alt=""> 
My second choice is out at Copmanhurst (in the foothills of the Gibraltar Range and about 75 kilometres west of Grafton) where<a href="https://www.realestate.com.au/property-lifestyle-nsw-copmanhurst-7682611" target="_blank"> The Gorge is listed</a> at $3.75 million through LJ Hooker Grafton. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/12/01/companhurst%20dec%201%20one.jpg" alt="">
Operating as a tourism enterprise, this property comprises 1,800 hectares freehold and 1,200 hectares leasehold. 
As the selling agent Matt Dougherty says the current owners have developed The Gorge into a highly acclaimed tourism enterprise which is home to the best wild bass fishing in Australia. Campers flock there to witness the unspoilt beauty of the valley and it is pure heaven for the keen fisherman…Margie will love it. But according to the booking schedule, she will have to book ahead a year ahead to hire “The Shack” which offers visitors a taste of luxury. 
Little known, but the prize for me is that growing on the property is Australia’s largest Jacaranda – <a href="https://www.nationalregisterofbigtrees.com.au/listing_view.php?listing_id=990"> listed on the National Register of Big Trees</a>.  Some six metres circumference, 30 metres high and a crown of 36 metres.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/12/01/big%20tgree%20dec%201%20one.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" width="130" height="195" style="float: left;">SHE SAID:
My Grafton pick is a pretty weatherboard house described by selling agents Rod Ford and Robyn Hunt, of First National Real Estate Bailey &amp; Gough, as “Sonaisali on Alice” – a confusing misnomer for the renovated residence bears no hint of Fijian style. 
<a href="https://www.realestate.com.au/property-house-nsw-grafton-118382959" target="_blank">Situated at 39 Alice Street</a>, this property stands on a large block in one of Grafton’s most sought after heritage streets which is close to the river and a short walk from expansive parklands shaded by beautiful Jacaranda trees.
For sale at $399,000, the property has a wide driveway leading to the four-bedroom two-bathroom house, and a swimming pool in the grounds. 
I like the comfortable look of this house, and also its huge garage where I’d keep my fishing gear. I’d also have a kayak which I could paddle across the river, past Susan Island, to visit Jonathan in his modest cottage on the southern foreshore.
Of course, he’ll say the Jacarandas on his side of the river are superior to those on my northern shore.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/12/01/grafton%20dec%201%20three.jpg" alt="">
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End of jacaranda season offerings at Grafton: He Said/She Said

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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