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Australian farmer confidence has staged a mild recovery off the back of good spring seasonal conditions across much of the country, according to the latest quarterly Rabobank Rural Confidence Survey.
The survey found 24% of primary producers expected the agricultural economy to improve in the next 12 months, which was up from 18% in the previous quarter.
The number expecting conditions to deteriorate dropped to 20% from 35% previously, according to the Rabobank Rural confidence survey, which has questioned about 1,200 farmers each quarter since 2000.
Rabobank general manager Rural Australia Peter Knoblanche says very good growing conditions throughout spring across much of the country had been the major factor boosting farmer confidence.
“We are now looking at one of the biggest grain harvests on record, although recent rains in northern and central New South Wales, as well as parts of Victoria and Western Australia, have delayed harvest and impacted the quality of the grain coming off,” he says.
Knoblanche says although farmers have been buoyed by the positive spring conditions, concerns about another wet finish to harvest and into summer are keeping confidence at subdued levels.
“With a La Nina weather pattern back this year, farmers are on tenterhooks that there might be a repeat of last year’s wet summer that saw what would have been a good year for grain marred by a wet harvest and rain damage,” he says.
Of those expecting the agricultural economy to improve over the next 12 months, 49% cited seasonal conditions as a driving factor, while 40% nominated commodity prices.
Farmers had mixed views on commodity prices, with prices also being nominated as a concern among those expecting the conditions to deteriorate.
“While beef and sheepmeat prices have held at relatively high levels, grain prices have been softening – and have come off even further since the survey was taken,” Knoblanche says.
Other concerns included overseas economies and markets (21%) and rising input costs (20%).
Public policy and government intervention – of major concern for farmers last quarter – were still an issue, cited by 27% though well down from 45% previously.
Farmers’ expectations of their own business performance had also improved.
The Rabobank survey found 38% of those surveyed expected to see improved performance in their business over the next 12 months, up from 31% last quarter.
Only 9% expected their business performance to worsen, down from 21% previously.
The improved income expectations have followed a generally favourable third quarter for gross farm income this year.
Knoblanche notes a total of 45% of Australian producers surveyed reported higher gross farm incomes compared with the same period the previous year, 35% the same and 18% lower.
The survey found all states recorded improved sentiment compared with the previous quarter, with confidence strongest in Western Australia and Tasmania.
Knoblanche says Western Australian farmer confidence was driven by very positive seasonal conditions experienced in the state, although excessive rainfall had impacted cropping.
“Quality is expected to be lower on large tonnage as a result,” he says.
“However the yield will hopefully help offset quality issues and lower commodity prices.”
Knoblanche says Tasmanian confidence was largely driven by plentiful spring rainfall, especially in the areas that had been drier.
“If the higher than average rainfall continues into the remainder of the year, good pasture cover should continue well into summer for graziers, while crop yields are expected to be good,” he says.
South Australian farmer confidence had improved slightly from last survey, however SA was the only state still reporting negative sentiment – with more farmers expecting conditions to worsen than the number expecting them to improve.
“The reality is things are still pretty good in South Australia, but the state is coming off an extraordinarily year in 2010 which saw a record-breaking crop and excellent conditions for livestock and this appears to be influencing their feelings about the year ahead,” Knoblanche says.
Softer commodity prices in the grain sector were also subduing South Australian farmer confidence levels.
Improved seasonal conditions were the main driver of the improved confidence among New South Wales farmers.
“However, in the north of this state, in recent weeks it’s become a case of ‘too much of a good thing’,” Knoblanche says, “with floods affecting cotton crops in the north west and negatively impacting on grains in some other areas.”
Concerns about rainfall impacting on this year’s grains crop was also keeping Victorian farmer optimism in check, although the state had also seen some rise in rural sentiment.
Queensland rural confidence levels also remained relatively low, though optimism was being driven by expectation of good commodity prices in the meat and sugar sectors.
Confidence had improved in all sectors, except dairy.
“With the case of dairy, it’s more a matter of returning to the status quo after very high confidence levels seen in this commodity earlier in the year,” Knoblanche says.
“That said, production looks good in most dairying areas, although farmers are anticipating some wind back in milk prices which has dampened sentiment slightly.”
Beef was the sector with the highest confidence levels, staging a dramatic turnaround from the previous quarter – when beef producers had the lowest confidence.
Knoblanche says generally solid prices in the livestock sectors were experienced through the survey period.
Graziers were also benefiting from good pasture growth due to spring rains.
The outlook among the grain sector is less positive, he says, with a significant differential in prices for milling and feed grain wheat.
“This is due to residual levels of feed grain held over from last year and a generally softer outlook for global grains this year,” he says.
Cotton and sugar cane sector confidence also improved, though with sugar still at relatively low levels.
“Prices for both these commodities eased over the quarter although remain stable and above the historical average,” Knoblanche says.
“For cotton, there has been a successful start to the season with an abundance of rain following planting, although the rain has caused some damage to the predominantly dry land crops around Moree.
“Cane growers have had favourable weather through the Australian crush which is drawing to a close. However weather-related impacts from last season limited Australian sugar production in 2011.”
 
 
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jchancellor-FAypfDUnLy

Farmers more positive after good spring crops: Rabobank survey

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Sydney’s 50.5% weekend clearance rate was one of its weakest auction weekends of the year.
It reflected the traditional end-of-year focus turning buyers’ attention from houses to Christmas presents.
There are 474 auctions scheduled for this Saturday, according to Australian Property Monitors.
Even closer to Christmas a twilight auction has been scheduled for December 21 of a two-bedroom Federation semi in View Street, Annandale.
"At this stage we're still proceeding to auction," says Callagher agent James Burke.
The Real Estate Institute of Victoria reported a 55% success rate, compared with 53% last weekend.
Next weekend the REIV expects 615 auctions.
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Sydney auction clearance rate falls as year winds down, but Melbourne's jumps

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Rothesay, the very grand 1896 Victorian Italianate home in Bellevue Hill, which was passed in at $12 million at last month’s auction, has now been sold at an unconfirmed $13 million-plus price.
It last traded in 1998 when the founder and executive chairman of the St Hilliers group, Tim Casey, and his wife, Anne Marie, daughter of the thoroughbred trainer Bart Cummings, bought Rothesay for $4,606,000 in 1998 from the Jagelman family.
Having been extensively remodelled, Rothesay was listed with price hopes of more than $13 million through Ray White Double Bay selling agents Michael Finger and Craig Pontey.
The sale will sit within the top 10 sales across Sydney this year.
<a target="_blank" href="https://www.propertyobserver.com.au/auctions/italianate-mansion-rothesay-passed-in-for-%2412-million-at-auction/2011111052315">The three-level residence</a>, crowned by a classic Italianate turret, has Thomas Hamel interiors and gardens by William Dangar.
Last year Casey's St Hilliers was ranked 91 in BRW's list of Top 500 Private Companies.
The company, founded by Casey in 1989, ranks as one of Australia's leading providers of property and construction services.
 
 
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Grand Bellevue Hill mansion Rothesay sells for more than $13 million

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{yoogallery src=[images/stories/november14hawkins]}
The Coogee home of Jennifer Hawkins, the former Miss Universe, television personality and swimwear designer, and her fiance, Jake Wall, was passed in at weekend auction on a $2.5 million vendor bid through McGrath agent Adrian Bo.
It’s now listed with a $2.6 million asking price.
The couple moved out of the Moore Street townhouse several months ago – staying at The Star casino in the interim – while waiting for construction of their northern beaches home to be completed in the Windy Dropdown gated estate.
<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/new-south-wales/model-jennifer-hawkins-coogee-pad-finally-hits-the-market/2011111452342" target="_blank">The 2003-built Coogee property</a> has three bedrooms and three bathrooms. It cost Hawkins $2.27 million in late 2008.
The main bedroom comes with ensuite, dressing room and terrace. One of its ultra-modern bathrooms has a Japanese agape spoon bath. Its third bedroom could be a home theatre or home office.
There’s a private rooftop terrace with ocean views as well as a cellar – all a stroll to Gordon’s Bay and Coogee and minutes to shops, cafes and transport.
Much of the house, including a feature wall of Florence Broadhurst-style wallpaper, pre-dates Hawkins’ 2008 purchase.
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Jennifer Hawkins' Coogee home passed in

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A downtown Washington property has sold on eBay for US$18,151.
But the new owner, whose identity is not yet available, will possibly soon realise he or she is also responsible for paying the unpaid US$1.2 million in federal and state tax liens.
The property, at 93-95 N. Main Street and 8-22 W. Chestnut Street, attracted 19 bidders who placed 32 bids on the property.
<img src="/images/stories/ebayauction.jpg">
But four bidders retracted their offers after a story on local website Observer-Reporter.com detailed the tax liens.
<img src="/images/stories/ebayauction2.jpg">
On the eBay auction site, the annual real estate taxes on the properties were said to be $193.
There was no mention of the tax liens, but the selling screed suggested prospective buyers do their own "due diligence" prior to making an offer.
Under the terms of the eBay sale, payment must be made in full, and all sales are final. Transfer of the deed will occur immediately thereafter.
"Once the deed is recorded, the seller has no recourse on the transaction," the site specifies.
The property was sold by Lots of Realty of Pittsburgh.
Repeated calls to Lots of Realty have not been returned to local news reporter Linda Metz.
The new owner will be responsible for more than $1.2 million in federal and state tax liens, according to Debbie Bardella, director of the county's tax revenue office.
"Our sales do not wipe out federal and state tax liens," says Bardella, although back county taxes are forgiven. "Anyone buying the property is then liable for these liens. I think those people bidding on the property should be aware of it."
The agency described the site as a two-storey Art Deco-style building but the 1,100-square-metres structure "needs total rehabilitation" and is being sold in "as-is" condition.
“GREAT FOR LAW, GAS &amp; OIL INDUSTRY OFFICES, RETAIL STORES OR EVEN A PAWN SHOP!
“WASHINGTON, PENNSYLVANIA DOES NOT HAVE A PAWN SHOP AND WE HAVE HAD MULTIPLE INQUIRIES FOR THIS USE!
“ONE (1) BLOCK FROM WASHINGTON COUNTY COURT HOUSE!”
The property was being sold under the information number 280768485430, under eBay's real estate section.
 
 
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Ebay buyer of US$18,000 Washington property liable for US$1.2 million in tax liens

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ASIC has settled an action brought by Westpoint founder Norm Carey.
In an action that commenced in October 2008, Carey had claimed unspecified damages from ASIC for alleged misfeasance in public office and negligence, arising from ASIC’s decisions in late 2005 to start winding-up proceedings against two Westpoint mezzanine finance companies.
As a result of the settlement, Carey’s action has been dismissed.
Carey has unreservedly withdrawn all allegations made against ASIC and its officers in connection with ASIC’s dealing with the Westpoint Group companies.
Carey and companies associated with him have agreed to pay $75,000 towards ASIC’s legal costs in defending the claim.
Carey continues legal proceedings against the Westpoint legal advisers.
 
 
 
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Westpoint founder Norm Carey withdraws proceedings against ASIC

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<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Economist Heather Ridout – who will soon sit on the board of the Reserve Bank of Australia – knows what it’s like to get caught long on property during a recession.
It was back in Australia's distant last recession in the early 1990s. Nothing too serious, but Title Tattle recalls it was boomtime 1988 when she and her solicitor husband, Peter, outlaid $210,000 for a Pearl Beach weekender on the NSW Central Coast, with the mortgage stamped at $220,000.
That was in addition to their Mosman home, which had cost $280,000 in 1983, and a good recessionary acquisition. However the Pearl Beach cottage was offloaded within four years for $202,500 in 1992. Not a huge loss, but certainly some fiscal inconvenience.
Of course she's very comfortable these days – and her Mosman hillside house must be worth $6 million plus. We could almost call it the Reserve Bank of Mosman now, as Ridout's auspicious appointment takes the prestigious harbourfront suburb's representation on the Reserve Bank board to two – along with the economist John Edwards, who owns there.
Ridout's appointment no doubt buoyed the besieged Balmoral bunch, whose tightened financial services industry bonuses are restricting their previous regular property upgrades on the Middle Harbour slopes. It means the plight of the miserable Mosman mortgage holders and the remaining Military Road retailers will feel their voice will be heard at the board's deliberations.
Of course the current governor Glenn Stevens hails from Sylvania Waters in the Sutherland Shire – they have canals not true harbour waterfront – having taken the reins from Mosmanite Ian Macfarlane in September 2006.
The Ridouts have periodically played the Mosman merry-go-round upgrading game, but not for 17 years. They've been in the same house since paying $1,025,000 in early 1994, so they bounced back pretty quickly after the recession we had to have. At the time they were upgrading from their $875,000 Prince Albert Street house, which had gone up a delightful 12% annually over the decade of their ownership.
There's still a mortgage dating back to the 1994 purchase, and it was just $400,000 at the time so plenty of equity then and presumably now. It’s impossible to say what amount the couple still owes on it, if anything.
Of course some 34% of Mosmanites don’t have any borrowings on their home, according to the last Census. That's slightly higher outright ownership rate than the 30% across Sydney in 2006 who have no immediate care for what the Reserve Bank does on the first Tuesday of the month unless they have plenty of cash in the bank. We'll get an update in the 2011 census figures next year.
Recently back from Bahrain where he was briefly advising before his July 31 RBA appointment, Edwards, an economic adviser to former treasurer and prime minister Paul Keating before becoming chief economist for Australia and New Zealand for HSBC Bank for 10 years, is also an adjunct professor at the John Curtin Institute of Public Policy at Curtin University.
He and his wife, Deborah Hope, who was Annita Keating's private secretary, also own property in Paddington.
{yoogallery src=[images/stories/november10melton]}
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The Townsville mansion (pictured above) of the founders of failed north Queensland company Storm Financial, Julie and Emmanuel Cassimatis, has been sold for an undisclosed amount. <a href="https://www.propertyobserver.com.au/auctions/storm-financial-founders-townsville-property-passed-in-at-auction-with-a-half-price-hit-in-the-making/2011112052440" target="_blank">It was passed in at recent auction </a>at $1.35 million. The eight-bedroom home had failed to sell at the family’s asking price of $3.8 million ever since first being listed in 2006. The 900-square-metre property, which sits on an 1,854-square-metre block, features a $75,000 Waterford crystal chandelier, lifts, two swimming pools, four bathrooms and has views over Magnetic Island, Cleveland Bay and the Townsville CBD.
Its selling agent Garry Byrnes from Ferry Property Townsville has had the Melton Terrace listing on and off the market since 2009. It’s been bought by a local businessman.
The Cassimatis couple are facing civil proceedings in the Federal Court by the Australian Securities and Investments Commission. Their assets have not been frozen, but the sale highlights the demise of the couple, who oversaw the loss of $3 billion of investors’ money in 2009.They have since sold their private jet and a similar property in Brisbane, which went for $2 million this year.
<img src="/images/stories/frantzis.jpg">
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The Tamarama residence of Perth-bound lawyer Amanda Kailis, of the MG Kailis pearling group, and her former husband, George Frazis, the Auckland-based Westpac New Zealand chief executitive, secured $6.45 million last weekend. The seven-bedroom house sold through Simon Exleton from McGrath Estate Agents. It was marketed as the most substantial Tamarama offering since 2008, but seemingly fell narrowly short of hype given there was a $6.8 million sale earlier this year. The four-level architecturally designed house was completed four years ago after a knockback or two at Waverley Council. With ocean and beach views, the Pacific Avenue house came with an 18-metre swimming pool in its north-facing garden. 
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Lady (Janette) Murray, the widow of Sir Brian Murray, a former governor of Victoria and an admiral in the Royal Australian Navy, wants $865,000 for her Darling Point apartment through Alexander Phillips of GoodyerDonnelley, in conjunction with agent Maureen Brett.
It had been listed for weekend auction with more than $800,000 expected for the two-bedroom Mitchell Road apartment, but did not sell. Lady Murray decided to sell the apartment because she lives mostly at her country residence in Molong or in the Loire Valley, France. It last traded at $740,000 in 2006.
<img src="/images/stories/mosmanpark.jpg">
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Anuket at Mosman Park (pictured above) in Perth has been listed for sale in a partially gutted state. It last sold in 2008 when property developer Luke Saraceni bought it from mining speculator David Rigoll, the former early-1990s Colonial Resources managing director, through agent William Porteous for $16 million. It had previously also traded at $16 million in 2007 when offloaded by Firepower director Tim Johnston, who had bought it from property developer Warren Anderson. The house was built for the Burswood Casino developer Dallas Dempster to a design by architect Louise St John Kennedy. Its current listing agent, William Porteous from William Porteous Properties International, is marketing it as "one of Perth's most iconic properties". Set on a 1,425-square-metre block, it comes with five bedrooms, six bathrooms and four living areas. The Chidley Way property comes with a huge lap pool overlooking the Swan River. It's not a rushed marketing campaign, as expressions of interest don't fall due until March 2012.
<img src="/images/stories/beretta.jpg">
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">Channel 7 Sunrise sports presenter Mark Beretta has sold his Mosman house (pictured above) at $1.9 million. Beretta and his wife, Rachel have, been at the property since 2005 when they paid $1.47 million. It sold through Piers van Hamburg at McGrath Estate Agents. It’s a charming single-storey house on a 610-square-metre block. The talk is they have spent about $2.8 million quite close by.
<img src="/images/stories/deckchiars.jpg">
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">The arts guru merchant banker Simon Mordant is tipped as the $10 million plus buyer of the garden apartment (pictured above)  in the recently completed Buckhurst block in Point Piper. The ELK development group secured $68 million in sales of the six harbourfront Buckhurst Avenue apartments. Simon and Catriona Mordant have been living in Darling Point for the past 24 years, with almost a decade in a two-storey hillside triplex penthouse developed by Ron Powell to a design by Peddle Thorp and Walker. It cost $5.25 million in 2002. Title Tattle recalls both floors of the 245-square-metre penthouse, with 95 square metres of terraces, were accessible by lift, with a sweeping staircase handcrafted from American oak also connecting the two levels.
{yoogallery src=[images/stories/october31bolivia]}
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">
Bolivia Station (pictured above), the historic rural property at Tenterfield in the New England district of northern NSW, has sold following tenders closing when $3 million plus was being sought by Patricia McAlary. She's the widow of the late Sydney barrister Frank McAlary, QC, the "dancing man" caught on film while twirling his hat in the air down a Sydney street on VP Day in 1945 at the end of World War II. First taken up in 1840, Bolivia Station has been owned by the McAlary family for almost 40 years. It is offered with about 500 station-bred cows and about 240 heifers. More than 30 parties inspected the 2,946-hectare property, widely regarded as one of the best in the Northern Tablelands district. Bolivia Station includes a 243-megalitre unregulated irrigation licence, two sets of cattle yards and an original homestead in need of repair. It was listed through Ray White Rural Tenterfield agent Bruce Birch, in conjunction with Jim Ritchie of Landmark Harcourts Glen Innes who expected the cattle might add another $1 million to the price.
{yoogallery src=[images/stories/december5rosebay]}
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">An architecturally significant Rose Bay duplex apartment (pictured above) has been sold for about $5 million. It’s atop the landmark 1961 building at the corner of New South Head and Beresford roads. The-700-square-metre penthouse of Peter Kotzias and wife Kathryn has been sold through McGrath agents Paul Ephron and Steven Chen. The apartment occupies the two top floors of a building designed by Ken Willoughby for the Auswild car dealer family. Newly updated by Weir Phillips Architects with interiors by Pyke Designs, the four-bedroom, four-bathroom apartment has 370 square metres internal space plus a 328-square-metre terrace opposite the harbour. At street level it comes with a private lobby with a lift connected directly to both levels of the penthouse. It last sold at $3.63 million in 2007.
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">Title Tattle aims to tell you as soon as we know – often before it happens – and we keep hearing whispers that one of the Lewis Land scions has bought at Palm Beach in Sydney's northern beaches.
<img src="/images/stories/88residence.jpg">
<img src="/images/stories/flagtitletat.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;">
And don't say that Title Tattle told you, but the sale of the penthouse of The Residence has become akin to pulling a rabbit out of a hat. There was an initial premature Australian Financial Reveiw September sale report suggested a very bullish $25 million, then this week's updated sales advisory had it at $20 million plus. But intriguingly Title Tattle has periodically heard suggestions that no official exchange has actually occurred.
But if the larger of the two penthouses in The Residence on College Street, Sydney has been sold, Title Tattle would envisage the sale price as more likely to be somewhere around $18 million. That would still rank as a Sydney penthouse record – bettering the Moran family's $16.8 million Bennelong purchase in 2008.
 The soon-to-be-complete 810-square-metre two-level penthouse – known as apartment 88 at 18 College Street – could possibly soon be full of the art that one would view at the White Rabbit Gallery, the Neilson family's significant collection of contemporary Chinese art.
There's denials, although some worksite wags have suggested Judith Neilson could be placing her serene Alice in Wonderland world-style art pieces around the apartment and pool now that's its intended Neil Bradford display suite decor is not getting installed in the main penthouse.
Last year The Australian described the founder of the White Rabbit Gallery in Sydney's Chippendale as Australia's second-richest woman courtesy of her stake in South African-born financier husband Kerr's billion-dollar company Platinum Asset Management. Perhaps the confusing speculation stems from the suggestions the mooted deal was done direct between the buyer and AMP Capital Investors, with with Galileo Group and Cbus Property is the joint partner of the $350 million CBD fringe residential conversion. CBRE agent Ben Stewart has been the lead selling agent on the project of late, but the mid-week AFR story strangely failed to make any mention of the lucky selling agent of apartment 88. There were initial $25 million expectations when the penthouse was marketed to offshore Chinese buyers hoping they'd pay a premium for the lucky number. But it seems that's didnt happen.
The Hyde Park precinct, on the green fringe of the central business district, now ranks among Sydney's priciest addresses.
The 24-level Scott Carver designed building – the gutted former NSW Police headquarters – has 87 five-star apartments with views across Hyde Park, the Opera House, St Mary’s Cathedral and Sydney Harbour. The facilities include a gymnasium, all-weather lap pool, sauna, spa and steam room, a residents’ lounge with a fully equipped kitchen and barbecue area and a 24-hour concierge service.The development also features a lockable, humidity-controlled wine room that can store a 100-bottle wine cellar for each resident.
The $350 million CBD tower is being developed by Parmada in a venture with AMP Capital Investors, Galileo Group and Cbus Property. 
 
 
 
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Heather Ridout – now on the Reserve Bank of Mosman – has ridden out recessionary downturns: Title Tattle

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{yoogallery src=[images/stories/december9mordant]}
Arts guru merchant banker Simon Mordant is the reputed $11 million buyer of the garden apartment in the recently completed Buckhurst block in Point Piper.
The ELK development group secured $68 million in sales of the <a href="https://www.propertyobserver.com.au/residential/luxury-buckhurst-point-piper-block-sells-out/2011112552548" target="_blank">six harbourfront Buckhurst Avenue apartments</a>. The whole-floor units were designed by architect Alex Popov, with interiors by Ruth Levine Designs, following two years of construction.
Simon and Catriona Mordant have been living in Darling Point for the past 24 years, with almost a decade in a two-storey hillside triplex penthouse developed by Ron Powell to a design by Peddle Thorp and Walker.
Their current abode, which cost $5.25 million in 2002, had 245 square metres of space plus 95 square metres of terraces.
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Art aficionado merchant banker Simon Mordant reputedly buys in Point Piper

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<img src="/images/stories/mahaquote.gif">
- Maha Sayour, the sister of Kings Cross identity John Ibrahim, told police during raids when $2.86 million in cash was found hidden in the ceiling of her South Wentworthville house.
She has pleaded not guilty to dealing recklessly with the proceeds of crime after the stockpile of banknotes was seized.
None of the 13 finger and palm prints found on the money bags matched hers. In a video recording played to the court, Sayour is heard telling police that her brother John gave her $500 a week to help with the mortgage. 
She also said that she had been renovating the house for several years and had "one kitchen for looking and one kitchen for cooking".
The house cost $159,950 in 1991.
 
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Quote of the week: John Ibrahim's sister Maha Sayour

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Even though all the major banks are passing on the RBA's rate cut, it is not provide enough stimulus to result in any significant turnaround in property value growth, according to RP Data research analyst Cameron Kusher.
“We suspect that consumers will remain cautious and continue to pay down their debt.
"Given this, if the cut is passed on it would likely provide welcome relief to home owners and may encourage some increase in sales activity next year, however, it is unlikely to provide a stimulant for property values to once again start increasing given the broader economic conditions,” Kusher suggests.
Kusher says if the interest rates cut announced by the Reserve Bank of Australia this week is passed on by all banks, it would provide reprieve for those home owners currently under mortgage stress.
“Undoubtedly interest rate cuts improve housing affordability."
But Kusher is cautious about anticipating any bounce from any full rate cuts.
“Although history can be a guide to the future, we feel that conditions are somewhat different this time round – property values are higher than they have been before and although interest rate cuts and value falls help boost affordability, it remains much more affordable to rent than it is to purchase,” he says.
He notes a raft of economic indicators suggest that market conditions may be somewhat different than those of the past.
<ul>
<li>Retail trade has grown by just 3.4% over the 12 months to October 2011, which is well below the decade average growth of 5.4% annually.</li>
<li>GDP data released for the September 2011 quarter this week shows that the Australian economy expanded by 2.5% over the year compared with an average expansion of 3% annually over the past decade.</li>
<li>Households continue to save around 10% of their income which is at levels not seen since the since the mid 1980s.</li>
<li>The total value of housing finance commitments have grown by just 4.1% over the 12 months to September and have fallen by -1.3% when refinances are removed.</li>
<li>The European governments are currently experiencing a debt crisis, not to mention the ongoing weakness of the US economy.</li>
</ul>
"Given the overall cautious nature of Australian consumers and the weak economic conditions in a number of other advanced economies , it would seem unlikely that even if the Australian economy continues to perform comparatively well, credit for housing will be as freely available as it has been in the past over the next 12 months,” Kusher adds.
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Rate cuts will not be enough to stimulate housing recovery: RP Data

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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

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.

[smartcode_project:default project_id=149637 project_image_fid=351027]

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.

[smartcode_project:default project_id=149637 project_image_fid=351031]

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."

[smartcode_project:default project_id=149637 project_image_fid=351024]

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.

[smartcode_project_cta:default project_id=149637]

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.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&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.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&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."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&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."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&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.

[smartcode_project_cta:default project_id=13962]

Jonathan Chancellor

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