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RBA governor Glenn Stevens has released a statement detailing the thinking behind the central bank's decision to cut interest rates by 50 basis points.
"At its meeting today, the board decided to lower the cash rate by 50 basis points to 3.75%, effective 2 May 2012. This decision is based on information received over the past few months that suggests that economic conditions have been somewhat weaker than expected, while inflation has moderated," Stevens says.
"Growth in the world economy slowed in the second half of 2011, and is likely to continue at a below-trend pace this year. A deep downturn is not occurring at this stage, however, and in fact some forecasters have recently revised upwards their global growth outlook. Growth in China has moderated, as was intended, and is likely to remain at a more measured and sustainable pace in the future. Conditions in other parts of Asia softened in 2011, partly due to natural disasters, but have recently shown some tentative signs of improving. Among the major countries, conditions in Europe remain very difficult, while the United States continues to grow at a moderate pace. Commodity prices have been little changed, at levels below recent peaks but which are nonetheless still quite high. Australia's terms of trade similarly peaked about six months ago, though they too remain high.
"Financial market sentiment has generally improved this year, and capital markets are supplying funding to corporations and well-rated banks. At the margin, wholesale funding costs have declined over recent months, though they remain higher, relative to benchmark rates, than in mid 2011. Market sentiment remains skittish, however, and the tasks of putting European banks and sovereigns onto a sound footing for the longer term, and of improving Europe's growth prospects, remain large. Hence Europe will remain a potential source of adverse shocks for some time yet.
"In Australia, output growth was somewhat below trend over the past year, notwithstanding that growth in domestic demand ran at its fastest pace for four years. Output growth was affected in part by temporary factors, but also by the persistently high exchange rate. Considerable structural change is also occurring in the economy. Labour market conditions softened during 2011, though the rate of unemployment has so far remained little changed at a low level.
"Recent data for inflation show that after a pick up in the first half of last year, underlying inflation has declined again, and was a little over % over the latest four quarters. CPI inflation has also declined, from about 3½% to a little over 1½% at the latest reading, as the weather-driven rises in food prices in the first half of last year have, as expected, now been fully reversed. Over the coming one to two years, and abstracting from the effects of the carbon price, inflation will probably be lower than earlier expected, but still in the 2–3% range," Stevens says in the statement.
"As a result of changes to monetary policy late last year, interest rates for borrowers have been close to their medium-term averages over recent months, albeit tending to increase a little as lenders passed on the higher costs of funding their books. Credit growth remains modest overall. Housing prices have shown some signs of stabilising recently, after having declined for most of 2011, but generally the housing market remains subdued. The exchange rate remains high even though the terms of trade have declined somewhat.
"Since it last changed the cash rate in December, the Board has maintained the view that the setting of policy was appropriate for the time being, but that the inflation outlook would provide scope for easier monetary policy, if needed, to support demand. The accretion of evidence over recent months suggests that it is now appropriate for a further step in that direction.
"In considering the appropriate size of adjustment to the cash rate at today's meeting, the board judged it desirable that financial conditions now be easier than those which had prevailed in December. A reduction of 50 basis points in the cash rate was, in this instance, therefore judged to be necessary in order to deliver the appropriate level of borrowing rates," Stevens says.
 
 
 
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jchancellor-FAypfDUnLy

RBA governor's statement

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The Reserve Bank of Australia has cut interest rates by a surprise 50 basis points to 3.75%.
The last cuts, which delighted retailers and borrowers, were in November and December last year, when it cut interest rates twice by 0.25%, the first time in more than 2½ years years.
The cash rate had since then been unchanged at 4.25% for three successive monetary policy meetings, in February, March and April.
This time around all economists forecas the RBA to cut rates.
The RBA said again that housing prices have shown some signs of stabilising recently, after having declined for most of 2011, but generally the housing market remained subdued.
"In considering the appropriate size of adjustment to the cash rate at today's meeting, the board judged it desirable that financial conditions now be easier than those which had prevailed in December," the bank says.
"A reduction of 50 basis points in the cash rate was, in this instance, therefore judged to be necessary in order to deliver the appropriate level of borrowing rates."
If banks pass on the full 50-basis-point cut, a borrower with a $300,000 loan at 7.25% over 25 years would save about $96 per month.
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<a href="https://www.propertyobserver.com.au/images/stories/commsecrates.gif" title="Click to enlarge" rel="shadowbox"><img src="https://www.urban.com.au/images/stories/commsecratesthumb.gif"></a>
"If a borrower continued to repay their loan at the pre cash rate cut level, leaving the monthly savings of $96 in each repayment, it could save them $68,364 in total interest payable and may see them repay the loan two years and eight months earlier," says Mortgage Choice spokeswoman Belinda Williamson.
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RBA cuts interest rates by surprise 50 basis points

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Amid all the interest rate commentary China has gone off the agenda a bit when comes to the likely impact on our economic future.
It was most noteworthy that Chinese buyers dominated the list of property transactions approved by the Foreign Investment Review Board, with some 5,000 approvals, mostly residential, amid the 9,770 approvals given to property acquisitions during 2010-11 year, according to the Foreign Investment Review Board (FIRB) annual report.
Just last week a Chinese mining tycoon and Australian citizen, William Han, chairman of China-based White Horse Australia Holdings Pty Ltd, <a href="https://www.propertyobserver.com.au/leisure/chinese-mining-tycoon-beats-clive-palmer-to-acquire-lindeman-island-with-plans-to-redevelop/2012042554429" target="_blank">beat Clive Palmer to acquire Lindeman Island for around $12 million</a>.
Cici Dong, head of the Asia-Pacific desk at Savills, says during the recent three-day Beijing Luxury Properties Showcase her agency concluded several sales with Chinese investors of vineyards in the Bordeaux region.
She says while there has been growing interest in the luxury asset, the real vineyard boom is still to come.
Apparently around 20 French chateaux have been bought by Chinese businessmen and even a government-owned company, in the last five years, Dong told the China Daily last month
She explained that for Chinese buyers, owning a French vineyard is a status symbol and sign of "good taste". And Bordeaux is still considered to be the best wine location.
That hasn’t stopped considerable Chinese investment in Australian vineyards, especially the NSW Hunter Valley, of course.
The China Daily notes Chinese investors are believed to have bought six Hunter Valley wineries last year, with several more in the pipeline.
No wonder Andrew Margan, president of the Hunter Valley Vineyard Association, told ABC news recently that the association was happy for fresh investment from overseas, as the wine industry in Australia was "at the bottom of the cycle”.
As we watch any signs of Chinese buyers pulling back, Westpac reported today that the luxury behemoth LVMH is reporting its mainland China sales growing at a slower rate than its sales elsewhere across the world.
But it’s not suggested that China’s uber-wealthy have suddenly lost their taste for conspicuous consumption, as it instead points to the price gap between luxury goods purchased on the mainland and elsewhere is considerable due to a VAT (17%) and a luxury tax (30%).
So China’s elites are simply shopping abroad and swelling luxury sales in that way.
Elsewhere Westpac did note the industrial bellwether Caterpillar has indicated that Chinese demand for its construction equipment has been soft of late, making it a further casualty of the Chinese government-sought slowdown.
 
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China’s wealthy are seeking luxury acquisitions abroad, particularly vineyards

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Angus Raine, the Raine &amp; Horne estate agency chief, says banks, building societies and credit unions must pass on 100% of the rate cut to encourage buyers back into real estate markets around Australia.
“If a lender doesn’t pass on the full rate cut, home owners should consider shopping around for the most suitable mortgage,” he says.
Raine says the rate cut would help the property market claw back the two to three months lost as a consequence of the hit to confidence levels as a combination of the RBA’s decision to leave rates on hold since the end of 2011, along with the decision by lenders to independently increase rates, which had curtailed real estate market confidence since February.
“The rate cut will prove a significant boost to entry level markets in our capital cities and regional towns, and should encourage more first timers, carrying the weight of rising rents, to secure a home.
“It’s also fair to expect that the rate cut will tip those investors who have been sitting on the fence into an investment property,” Raine suggests.
 
 
 
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Banks must pass on RBA rate cut in full: Angus Raine

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John Barnes, the former head of Deutsche Bank Australia, and his wife, Joy, have listed their Frank Lloyd Wright-style Seaforth waterfront reserve property.
It’s a 1,954- square-metre largely level block on Castle Circuit that the Sydney developer Don Rose and wife Janice selected as their own home when developing the circuit in the 1960s.
It’s been listed by Richardson &amp; Wrench Seaforth father-son team Glen and Tim Wirth for May 26 auction with expectations in the high $3 millions.
It’s surrounded by national park on three sides with lawns, garden, entertaining decks and terraces, some with 180-degree views over Middle Harbour to the city skyline.
It comes with direct access to the waterfront via a path to a beach at low tide and the ability to launch to a possible mooring.
The Barnes family have been at the property for 20 years. Don and Janice Rose developed Castle Circuit as the Harbour View Estate in the early 1960s when it was “just a mountain”.
<img src="/images/stories/seaforth.jpg">
 
Out of the 50 or so sites they retained the best for themselves and then built their home using some of the most modern construction techniques of the time.
 
Bungalow architecture was the first topic of the current Sydney lecture series that traces housing styles in Australia hosted by the Historic Houses Trust as part of the Sydney Open program.
It kicked off last week with author, historian and conservation consultant Dr James Broadbent and Scott Robertson, director of Robertson &amp; Hindmarsh Architects, addressing bungalow homes.
The <a href="https://www.hht.net.au/discover/highlights/articles/sydney_open_talks_house_bios">Thursday evening talks</a> run weekly until June 14 held at The Mint on Macquarie Street, Sydney. Architects can claim informal CPD points by their attendance. The series Apartment Thursday, May 3, 6pm - 7.30pm Dr Caroline Butler-Bowdon, assistant director, Creative Services, Historic Houses Trust Adam Haddow, Director, SJB Architects Villa Thursday, May 10, 6pm - 7.30pm Scott Carlin, Curator, Historic Houses Trust Philip Goad, professor of architecture at the University of Melbourne Mansion Thursday, May 17, 6pm - 7.30pm Dr Charles Pickett, curator of design and built environment at the Powerhouse Museum Jonathan Chancellor, managing editor, Property Observer Beach shack Thursday, May 24, 6pm - 7.30pm Dr Michael Bogle, design historian Peter Stutchbury, Peter Stutchbury Architects Terrace Thursday, May 31, 6pm - 7.30pm Keri Huxley, social and political scientist and former mayor of Woollahra Council Hannah Tribe, founding principal, Tribe Studio Architects Project home Thursday, June 7, 6pm - 7.30pm Dr Judith O’Callaghan, senior lecturer, The University of New South Wales Tone Wheeler, principal architect, Environa Studio Portable Thursday, June 14, 6pm - 7.30pm Megan Martin, head of collections and access Sean Godsell, Sean Godsell Architects
 
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Seaforth ‘60s Frank Lloyd Wright-inspired glass and stone bungalow listing on Donjan estate: Title Tattle

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The location of the long-running television series A Country Practice is being subdivided for house-and-land packages.
And one buyer in JPG Property’s Pitt Town land release on the north-west outskirts of Sydney will win a lot for free once all 31 lots in the latest Fernville release are sold.
It’s a one-in-31 chance of winning back the outlay spent on a block valued somewhere between $358,000 and $501,000 in a marketing stunt by JPG founder Keith Johnson, who said he was trying to stimulate the market.
“People say they will buy, but there is no urgency,” he says, adding that the block prices had already been cut by $100,000 to $200,000.
“We are trying to create some urgency. And we need cashflow,” he told the Australian Financial Review.
<img src="/images/stories/vermont.jpg">
The project, called Vermont Living, will consists of about 1,000 lots, including its Riverland and Bona Vista releases, set on the Hawkesbury River about 58 kilometres from the Sydney central business district.
Johnson says the project is pitched at second-home buyers from the nearby Hills District.
Lots range in size from 550?square metres to 1,543 square metres, which Johnson says are being sold “without much margin”.
<img src="/images/stories/vermont2.jpg">
Johnson estimates each block had already accrued $15,400 in land tax, another $25,700 in infrastructure charges by the local Hawkesbury City Council and $50,000 in charges by NSW government instrumentalities.
Already 130 homes have been built in the project, which took?about 15 years to gain rezoning.
“There is a lack of confidence in the federal government and in the state government,” Johnson says.
 
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Free Wandin Valley building block giveaway to prompt Pitt Town buying urgency

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Mirvac Group managing director Nicholas Collishaw has told shareholders that the group was well positioned to deliver on its financial year earnings guidance.
“Since first announcing guidance in August last year, market conditions have performed in line with our expectations,” he says.
The group settled 308 lots and remained on track to achieve the financial year target of 1,800 lots.
Some $999 million was held in residential exchanged pre-sale contracts.
“In our development division, we continue to focus on de-risking future income with pre-sales,” he says.
 
 
 
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Mirvac set to deliver on expectations, with $999 million in residential pre-sales contracts

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There were 1,751,679 property investors declared to the Australian Taxation Office in 2009-10, representing one in seven taxpayers.
It represented 59,235 more investors that the 2008-09 financial year.
The investors grossed $28 billion in rental income, up from the $26 billion a year earlier.
The majority of individuals – 72.8% – had an interest in just the one rental property.
And while the latest ATO revealed that Australia is still very much a nation of loss-making landlords, negative gearing claims shrunk.
Total losses on investment properties were $4.810 billion in 2009-10, or $2,746 per property investor.
It was down from $6.528 billion ($3,857 per investor) in 2008-09.
Of individuals declaring net rental income, 80% claimed rental interest deductions.
For the 2009–10 income year, 63.4% of individuals with net rental income reported a taxable loss (net rental income less than zero) from their rental property. This equated to 1,110,922 investors.
Of these negatively geared investors, nearly three-quarters earned (total income) less than $80,000 in 2009-10, and the average loss was $9,132 per negatively geared investor, or $176 per week.
 
 
 
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One in seven taxpayers a landlord, with most making a loss: ATO

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Buying inquiries from renters for Stockland house-and-land packages have doubled over the past two years.
“Renters are tired of renting – they want to own their home,” Stockland managing director Matthew Quinn says.
“Incomes are growing faster than house prices.
“The cost differential between renting and owning has narrowed,” he notes.
“We have moved from a housing crisis to a rental crisis,” Quinn says.
"They are literally sick of renting. These renters are paying a high price for a second-rate product,” he says.
“Buyers will take what they need, rather than buying the dream.”
He says April house-and-land package sales jumped back to 400 plus, up from the 300-plus figure in March that had prompted its recent outlook update.
But hollowing any sustained interest rate reductions, he says a big swing factor was possible in the renter-turned-first-home buyer market.
“They are very interest rate sensitive.”
Stripping out the GST and GFC, Quinn notes that new home sales are at 18-year lows, based on the HIA data.
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He notes the mid-1990s downturn came from over building and rising interest rates.
“We don’t expect any government stimulus, nor do we think there should be any,” he says.
“We expect a steady recover rather than a V-shaped recovery.”
He says Stockland would see the major benefit in 2014 rather than 2013.
“We can’t be a slave to monetary policy.
“We have to take control of the situation ourselves by driving affordability, and that strategy is working well for us.”
“The mood and the market can turn quite quickly particularly when we have a high pent up demand, with house prices stable and rents going up.
The comments were part of an investor briefing where Stockland confirmed it was on track to achieve its recent guidance for the 2012 financial year.
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Quinn says although the new housing market is at a cyclical low point, Stockland is on track to settle around 5,000 lots for the year.
This is about the same as in the 2011 financial year.
Having completed a review of carrying values, Stockland identified impairments on five projects totalling $48 million, or 2% of total book value.
The impairments are primarily at lifestyle projects, reflecting price pressure at the top end of the market, Quinn says.
Quinn says Stockland carries its residential inventory at the lower of cost or net realisable value.
“Overall our land bank is in very good shape,” he says.
Quinn notes signs that the residential market is nearing the bottom of the cycle, with building approvals close to a cyclical low.
“Sentiment towards home buying follows interest rates, and we expect to see an increase in demand in our residential business if interest rates come down sufficiently.
“It will take a fall of at least 50 basis points to make a real difference to buyer sentiment,” Quinn says.
“Even with no improvement in market conditions, however, we are well placed to deliver 6,500 lots in financial year 2015 based on our strong existing pipeline of affordable communities.
“And there is significant further potential upside as market conditions improve.”
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Renters ‘tired of renting’ and increasing inquiry about house-and-land purchases: Stockland

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Nebraska, the much-renovated 1921 Alexander Stewart Jolly-designed Gordon bungalow has been listed with $1.5 million hopes through McGrath agent Melissa Lynch-Hill.
The three-bedroom, three-bathroom Yarabah house has been again sympathetically renovated since the Green family bought it from the Uloth family in 2002 for $890,000.
It’s now being marketed as having a floorplan suited to modern family living, and the family also might want a separate self-contained studio at the rear of the 1050-square-metre property. Title Tattle recalls it was in 1991 when architect Amanda Jean was commissioned to rebuild collapsing entry steps, design the children's bedrooms and a bathroom, and create that separate studio.
It was sought by ASX surveillance head Jim Berry and wife Janet, who sold in 1999 for $850,000. The presumably very rustic Alexander Stewart Jolly-designed stone and timber bungalow had traded at $133,000 in 1981 as a two-bedroom, two-bathroom deceased estate.
It was one of the last houses designed by the inter-war architect. Some say its low-pitched gable roof with dark-stained vertical timber boarding and superb interior timber joinery closely resembles the American West Coast stick style of Greene &amp; Greene's Gamble House.
Veranda-room architecture was the first topic of the current Sydney lecture series that traces housing styles in Australia hosted by the Historic Houses Trust as part of the Sydney Open program.
It kicked off last week with author, historian and conservation consultant Dr James Broadbent and Scott Robertson, director of Robertson &amp; Hindmarsh Architects, addressing bungalow homes.
The <a href="https://www.hht.net.au/discover/highlights/articles/sydney_open_talks_house_bios">Thursday evening talks</a> run weekly until June 14 held at The Mint on Macquarie Street, Sydney. Architects can claim informal CPD points by their attendance. The series Apartment Thursday, May 3, 6pm - 7.30pm Dr Caroline Butler-Bowdon, assistant director, Creative Services, Historic Houses Trust Adam Haddow, Director, SJB Architects Villa Thursday, May 10, 6pm - 7.30pm Scott Carlin, Curator, Historic Houses Trust Philip Goad, professor of architecture at the University of Melbourne Mansion Thursday, May 17, 6pm - 7.30pm Dr Charles Pickett, curator of design and built environment at the Powerhouse Museum Jonathan Chancellor, managing editor, Property Observer Beach shack Thursday, May 24, 6pm - 7.30pm Dr Michael Bogle, design historian Peter Stutchbury, Peter Stutchbury Architects Terrace Thursday, May 31, 6pm - 7.30pm Keri Huxley, social and political scientist and former mayor of Woollahra Council Hannah Tribe, founding principal, Tribe Studio Architects Project home Thursday, June 7, 6pm - 7.30pm Dr Judith O’Callaghan, senior lecturer, The University of New South Wales Tone Wheeler, principal architect, Environa Studio Portable Thursday, June 14, 6pm - 7.30pm Megan Martin, head of collections and access Sean Godsell, Sean Godsell Architects
 
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Alexander Stewart Jolly-designed bungalow Nebraska listed after yet another reno

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

Joel Robinson

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

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

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

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

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

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

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&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

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&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

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&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

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&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

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Jonathan Chancellor

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