<html><body>
Australian property market bear Steve Keen of the University of Western Sydney has taken the decision to monetise some of his views on economics and the housing market via a new website, Debunking Economics, which launches today.
For around $25 a month, subscribers to <a target="_blank" href="https://www.debunkingeconomics.com">www.debunkingeconomics.com</a> will be able to pose questions directly to Keen, including asking him about his views on house prices.
Keen remains adamant that house prices will fall by 40% from their peak in June 2010 over the next 10 to 15 years and believes that the days of rising property values are over.
"The decision to monetise is because the voluntary approach has been ineffective on Debtwatch [his free blog, which he will continue to run but with fewer posts] – some money has been raised, but far less than I've put of my own money into maintaining it over the years, and doing the travel that I needed to do to – firstly raise the alarm about the crisis, and now to push the need for a complete revision of economic theory," he tells Property Observer.
The website is named after Keen's 2001 book of the same title, which took aim at current economic theory and claimed that much of the “cherished notions” of conventional economics are based on reasoning that is internally inconsistent.
A revised and updated edition of Debunking Economics was published last year.
Keen will charge subscribers US$25 a month or US$250 for a 12-month subscription to the website with the promise of “exclusive audio-visual presentations, discussions and interviews about the contemporary economic scene”.
The launch of Keen's pay site follows investment blog MacroBusiness launching a new paid investment advice newsletter on July1, Macro Investor, published every Monday morning with an annual subscription of $479.
MacroBusiness contributors include former Treasury economist Leith van Onselen and David Llewellyn-Smith, a former Business Spectator commentator.
Keen is targeting "at least a thousand subscribers, hopefully more – though that will come far more from US and UK subscribers rather than Australia".
"I've been told that my blog is very widely read in the hedge fund community, and I hope they are a large part of the paying audience," he says.
Aside from access to exclusive content and analysis, subscribers will also be able to log onto interactive Q&amp;A web seminars with Keen and put questions to him directly and in person.
The seminars will be held on a fortnightly basis.
Other exclusive content will include weekly video interviews on both topical and background issues with  journalist  and former Telstra.com group manager Phil Dobbie, weekly lectures on economics from Keen's "decidely non-orthodox perspective", a regular "Sandpit", where new economic models are developed and explained and a  "chartpack" providing access to Keen's analytic charts developed over the years, with the data updated automatically.
Subscribers will also get a free e-copy of Debunking Economics as part of their subscription.
Keen is known beyond Australian borders, having provided economic commentary this year on UK and Irish television, and will embark on New Zealand seminar tour in September.
Most recently he told Peter Switzer on Sky Business that Australian house prices have fallen 10% in real terms (including inflation) since their peak in June 2010.
Keen also took the opportunity to clarify his famous call of a 40% fall in house prices:
He said he made the call in an unscripted response to a question from the ABC’s Kerry O’Brien in November 2007 following a rate rise (up 0.25% to 6.75%) and as the first signs of a US sub-prime mortgage crisis emerged.
“I said [in the interview with Kerry O’Brien] property prices have fallen 40% in Japan in the 10% to 15% since their bubble burst, and I see no reason why we should avoid the same fate," Keen told Switzer.
Keen says the first-home stimulus that was introduced by the government in September 2008 – the doubling of the first-home owners’ grant, which he calls the "first-home venders boost" – pushed back the clock on property price falls, but he remains adamant that prices will fall by 40% over the 10 to 15 years starting from the June 2010 peak.
Keen launched the Debt Watch website in 2006. It includes much of his research, commentary and links to his media appearances.
The website is based around Keen’s view that accelerating mortgage debt fuelled the rise in Australian house prices and that house prices are now falling as mortgage growth slows.
</body></html>

lschlesinger-FZcF9M3vE6

Property bear Steve Keen to launch $25 per month subscriber-only economics website with Q&A opportunity

<html><body>
Consumer sentiment has shifted away from an expectation that mortgage rates will fall further over the next 12 months to expectations that they are just as likely to remain unchanged or rise over this time frame.
Less than a third of consumers (32.5%) who hold a view on mortgage rates expect them to fall over the next 12 months, according to the August Westpac-Melbourne Institute Consumer survey.
Two-thirds of consumers expect either rates to rise (32.7%) or rates to remain unchanged (34.7%), indicating a considerable lack of consensus on where mortgages rates are heading over the medium term.
The extra question on mortgage rates was included as part of the wider benchmark Westpac-Melbourne Institute Consumer Sentiment index in February and June.
The latest August results show a distinct shift away from expectations of future rate cuts in the June survey, when 52% of consumers expected rates to fall – an outright majority if a very slender one.
In the February survey – following the rate cuts in November and December – more respondents (around 40%) expected rates to rise than fall.
The graph below shows just how confused borrowers have become about the future direction of rates – a year ago, more than 70% of borrowers expected (incorrectly, it turns out) that rates would rise over the next 12 months.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/westpacaug20.gif"><img src="/images/stories/2012/08/westpacaug20thumb.gif"></a>
According to Westpac senior economist Matthew Hassan, consumers lack of consensus on the rate outlook likely reflects several factors.
“The inflation backdrop looks benign ... consumers see little threat to the RBA’s 2% to 3% target.
“Meanwhile the picture on Australian growth remains mixed.
“Notwithstanding patchy consumer sentiment on the economic outlook, actual growth remains solidly positive. Similarly, despite intense job loss fears official unemployment rates are holding at low levels," Hassan says. 
Hassan says comments from RBA governor Glenn Stevens in recent speeches would likely have reinforced this mixed assessment.
“‘The glass half full' speech in early June and his Anika Foundation address on July 24, entitled 'The Lucky Country', both emphasised Australia’s positive economic prospects.
“Against this though the RBA’s recent decisions, accompanying statements and forecasts indicate the bank is in a 'wait and see' mode.
“Markets continue to favour additional official interest rate cuts with 50 basis points of easing by early 2013 still priced in," Hassan says.
“However, this measure is likely being skewed by investors seeking ‘safe-haven’ assets. Economists also favour rates moving lower with polls showing a median expectation of a 25 basis points reduction by Sep 2013.
“Westpac continues to anticipate 75-basis-point reduction over the same period."
Across the different sub-groups, home owners remain more dovish than those renting but showed a bigger swing since June, suggesting more positive house price news may have been a factor.
</body></html>

Less than a third of consumers expect RBA rate cut in next 12 months: Westpac consumer survey

<html><body>
Australian house prices are slightly less overvalued than they were four months ago but are still 36% above their fair value, according to The Economist magazine
In the magazine's August 2012 update of 21 residential-property markets around the world, the Australian housing market ranked 13th, with prices down 2.1% year-on-year.
In its previous update, The Economist reported Australian house prices as 38% overvalued.
The Economist defines “fair value” as “the long-run average ratio of house prices to disposable income and to rents”.
Australia is one of 12 housing markets where prices are falling, says The Economist, which says Austrlia is the best-performing market, with a 11% year-on-year gain.
However, the Australian market is not nearly as overvalued as Hong Kong (64% above fair value), Singapore (58%) or Canada (54%).
Over the past five years, Australian house prices are up just under 10% - modest in comparison to house price gains in Hong Kong (up 64%) and Austria (23%) and below comparable markets like Canada (18%).
The latest update shows Ireland to be the worst-performing housing market of the 21, with prices down 14.4% over the past year and nearly 50% over the last five years.
Spanish house prices decline 8.3% over the past year to July and are down 22.4% over the last five years.
The Economist says that following years of “dizzying ascents, a big dose of gravity has hit residential-property markets around the world”.
It says that many housing markets are returning “fair value” with eight countries now around or below this mark.
“But reaching this mark does not mean prices will stop falling. After dropping by a third from their 2006 peak, prices in America now stand at 19% below fair value,” says The Economist.
“The bottom of the market is close, however.”
It says that other markets like Ireland are “still in free fall”.
“Property prices in Ireland, at the foot of our table since April 2010, continue to plummet. They have now halved in value, after a fivefold rise between 1995 and their 2007 peak.
It warns that the pace of house price decline in Spain quickened in the second quarter of the year with the dire state of the Spanish economy suggesting that “prices will keep diving”.
Prices in Britain fell by 0.7% in July to be down 10.2% over the past five years.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.economist.com/node/21560599">Click here</a> a full breakdown of how the 21 housing markets tracked by The Economist have performed.
</body></html>

Australian house price down 2.1% over past year but still 36% overvalued: The Economist magazine

<html><body>
Inala, a multicultural suburb 18 kilometres south west of the Brisbane CBD, had the cheapest median sale price of $277,000 over the June quarter, according to Real Estate Institute of Queensland (REIQ) house price data.
Inala house prices increased by 1.8% over the June quarter, but are down 5.9% over the past 12 months, when the median price was $295,000.
It is one of 35 suburbs that recorded a median sale prices below the $500,000 median for Brisbane houses, according to REIQ:
The 35 suburbs are: 
<table width="340" border="0" cellpadding="0" cellspacing="0">
<colgroup>
<col width="158">
<col width="69">
<col width="64">
<col width="49">
</colgroup>
<tbody>
<tr height="65">
<td width="158" height="65">Locality</td>
<td width="69">Median Sale Jun12</td>
<td width="64">Qtrly change</td>
<td width="49">1yr change</td>
</tr>
<tr height="20">
<td height="20">BRISBANE CITY (LGA)</td>
<td>$   500,000</td>
<td>-1.0%</td>
<td>-4.7%</td>
</tr>
<tr height="20">
<td height="20">ACACIA RIDGE</td>
<td>$   315,000</td>
<td>3.3%</td>
<td>-2.8%</td>
</tr>
<tr height="20">
<td height="20">ALGESTER</td>
<td>$   400,000</td>
<td>0.6%</td>
<td>-1.4%</td>
</tr>
<tr height="20">
<td height="20">BALD HILLS ~</td>
<td>$   336,000</td>
<td>-9.8%</td>
<td>-9.3%</td>
</tr>
<tr height="20">
<td height="20">BANYO</td>
<td>$   385,000</td>
<td>1.4%</td>
<td>-0.7%</td>
</tr>
<tr height="20">
<td height="20">BOONDALL</td>
<td>$   405,000</td>
<td>-0.2%</td>
<td>-3.0%</td>
</tr>
<tr height="20">
<td height="20">BRACKEN RIDGE ~</td>
<td>$   385,000</td>
<td>-11.2%</td>
<td>-0.4%</td>
</tr>
<tr height="20">
<td height="20">BRIGHTON</td>
<td>$   385,000</td>
<td>2.1%</td>
<td>-1.9%</td>
</tr>
<tr height="20">
<td height="20">CARINA</td>
<td>$   493,750</td>
<td>1.8%</td>
<td>-3.0%</td>
</tr>
<tr height="20">
<td height="20">CHERMSIDE WEST</td>
<td>$   426,000</td>
<td>-1.5%</td>
<td>-5.4%</td>
</tr>
<tr height="20">
<td height="20">COOPERS PLAINS</td>
<td>$   373,250</td>
<td>0.6%</td>
<td>-11.6%</td>
</tr>
<tr height="20">
<td height="20">DARRA ~</td>
<td>$   324,000</td>
<td>-15.8%</td>
<td>0.0%</td>
</tr>
<tr height="20">
<td height="20">DOOLANDELLA * ~</td>
<td>$   433,000</td>
<td>25.5%</td>
<td>-13.7%</td>
</tr>
<tr height="20">
<td height="20">DREWVALE ~</td>
<td>$   432,500</td>
<td>-10.0%</td>
<td>-10.0%</td>
</tr>
<tr height="20">
<td height="20">EVERTON PARK</td>
<td>$   450,000</td>
<td>2.7%</td>
<td>-6.8%</td>
</tr>
<tr height="20">
<td height="20">FITZGIBBON</td>
<td>$   385,250</td>
<td>-1.7%</td>
<td>-6.1%</td>
</tr>
<tr height="20">
<td height="20">FOREST LAKE</td>
<td>$   357,500</td>
<td>-2.1%</td>
<td>-3.7%</td>
</tr>
<tr height="20">
<td height="20">GEEBUNG ~</td>
<td>$   404,000</td>
<td>-1.5%</td>
<td>-4.3%</td>
</tr>
<tr height="20">
<td height="20">INALA</td>
<td>$   276,500</td>
<td>1.8%</td>
<td>-5.9%</td>
</tr>
<tr height="20">
<td height="20">KEPERRA</td>
<td>$   392,500</td>
<td>-3.1%</td>
<td>-8.0%</td>
</tr>
<tr height="20">
<td height="20">LOTA ~</td>
<td>$   424,000</td>
<td>-17.7%</td>
<td>8.0%</td>
</tr>
<tr height="20">
<td height="20">MANSFIELD</td>
<td>$   476,250</td>
<td>7.6%</td>
<td>-9.6%</td>
</tr>
<tr height="20">
<td height="20">MITCHELTON</td>
<td>$   460,000</td>
<td>0.0%</td>
<td>-9.1%</td>
</tr>
<tr height="20">
<td height="20">MOOROOKA</td>
<td>$   469,250</td>
<td>-2.7%</td>
<td>-6.2%</td>
</tr>
<tr height="20">
<td height="20">MOUNT GRAVATT EAST</td>
<td>$   454,000</td>
<td>3.4%</td>
<td>-3.3%</td>
</tr>
<tr height="20">
<td height="20">OXLEY</td>
<td>$   379,000</td>
<td>-5.3%</td>
<td>-5.4%</td>
</tr>
<tr height="20">
<td height="20">PARKINSON ~</td>
<td>$   455,000</td>
<td>-9.3%</td>
<td>-3.3%</td>
</tr>
<tr height="20">
<td height="20">RUNCORN</td>
<td>$   440,500</td>
<td>7.4%</td>
<td>2.0%</td>
</tr>
<tr height="20">
<td height="20">SALISBURY</td>
<td>$   390,000</td>
<td>-9.3%</td>
<td>-5.8%</td>
</tr>
<tr height="20">
<td height="20">STAFFORD ~</td>
<td>$   465,500</td>
<td>7.0%</td>
<td>-6.4%</td>
</tr>
<tr height="20">
<td height="20">STAFFORD HEIGHTS</td>
<td>$   437,000</td>
<td>2.8%</td>
<td>-5.8%</td>
</tr>
<tr height="20">
<td height="20">SUNNYBANK HILLS ~</td>
<td>$   474,500</td>
<td>13.5%</td>
<td>-1.1%</td>
</tr>
<tr height="20">
<td height="20">TINGALPA</td>
<td>$   422,000</td>
<td>2.9%</td>
<td>-4.2%</td>
</tr>
<tr height="20">
<td height="20">UPPER MOUNT GRAVATT</td>
<td>$   460,000</td>
<td>2.3%</td>
<td>1.1%</td>
</tr>
<tr height="20">
<td height="20">WAVELL HEIGHTS</td>
<td>$   486,000</td>
<td>-2.8%</td>
<td>-9.3%</td>
</tr>
<tr height="20">
<td height="20">WYNNUM WEST</td>
<td>$   415,000</td>
<td>1.6%</td>
<td>-4.4%</td>
</tr>
</tbody>
</table>
Source: REIQ
For more on Brisbane, download our free eBook <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-the-brisbane-inner-city-market">Brisbane's Inner-City Urban Renewal</a>
</body></html>

Inala houses the cheapest among 35 suburbs priced under the $500,000 Brisbane median: REIQ

<html><body>
Speculation persists that News Limited could look to mop up minority shareholders and acquire a 100% holding of the online real estate listing business REA Group, publisher of realestate.com.au.
News Limited has a 61.6% holding in REA Group and would have to pay between $910 million and $990 million to acquire the remaining 38.4% of the company.
Asked by the Australian Financial Review if News Limited was likely to acquire 100% of REA Group, Greg Ellis was reported today as saying: “You’d have to ask News about that.”
Minority shareholders of REA Group include fund manager Hyperion Asset Management, which upped its stake in REA Group from 9% to 10% in May.
In July News Limited and the REA Group announced a marketing alliance that sees the realestate.com.au brand integrated into the mastheads and property sections of News Limited metropolitan, community and regional newspapers.
Last week<a target="_blank" href="https://www.propertyobserver.com.au/news/rea-group-says-market-contraction-to-blame-for-drop-in-realestatecomau-agent-numbers-as-profits-rise-29/2012081656077"> REA Group posted a</a><a href="https://www.afr.com/p/business/marketing_media/rea_reports_pc_profit_jump_sK50CeCzO76euVYulKkHCM" target="_blank"> </a><a target="_blank" href="https://www.propertyobserver.com.au/news/rea-group-says-market-contraction-to-blame-for-drop-in-realestatecomau-agent-numbers-as-profits-rise-29/2012081656077">29% rise in net profit to $87 million</a> for the 2012 financial year ahead of analysts’ expectations, but real estate agent numbers fell by 5%.
In April, Hamish McLennan, executive vice president at News Corporation, was appointed chairman of the REA Group.
In January, Sam White, deputy chairman of the Ray White group, quit the board of the REA Group.
</body></html>

Speculation surrounding News Ltd’s mooted 100% acquisition of REA Group 

<html><body>
Interim results for the Westfield Retail Trust reveal that Westfield Sydney, the group’s flagship Australian store, is the most valuable, worth $1.34 billion, but it is two of its smallest centres that are delivering the strongest returns.
Westfield Retail Trust is Australia’s largest real estate investment trust (REIT) comprising Westfield’s portfolio of Australian and New Zealand shopping centres.
The trust recorded half-year profits after-tax for the six months to June 30 of $417 million, with 1,400 leasing transactions recorded across the portfolio of 52 malls in Australian and New Zealand.
Westfield Figtree at 19 Princess Highway in West Wollongong, which is valued at $75 million, and Westfield North Rocks in Sydney’s outer west (valued at $59 million) are both returning an estimated yield of 7.5% as of June 30 this year.
Westfield Figtree recorded $9,048 per square metre in retail speciality sales, while North Rocks managed $6,914.
Westfield Figtree has 22,000 square metres of retail space with 94 stores, while  North Rocks measures 23,000 square metres with 92 stores.
In comparison, Westfield Chermside in Brisbane – the largest store – has 146,000 square metres of retail space and 415 stores.
Both stores are strongly outperforming the total Australian Westfield portfolio, worth just over $12 billion, which has an estimated yield of 5.9%.
Westfield Sydney (40,000 square metres of retail space) has an estimated retail yield of 5.13% while the next most valuable shopping centre, Westfield Bondi Junction (129,000 square metres), valued at just over $1 billion has an estimated yield of $5.25%.
Here’s a breakdown of Westfield top ten performing centres based on their yield estimates as of June 30:
<img src="/images/stories/2012/08/7point5percent.gif">
The estimated yield at Westfield Figtree (valued at $75 million)
The estimated yield at Westfield North Rocks (valued at $59 million)
<img src="/images/stories/2012/08/7point25percent.gif">
The estimated yield at Westfield Strathpine in Queensland (valued at $140.5 million)
<img src="/images/stories/2012/08/7percent1.gif">
The estimated yield at Westfield Airport West in Victoria (valued at $140.5 million)
The estimated yield at Westfield Hurstville in NSW (valued at $147.5 million)
The estimated yield at Westfield Innaloo in WA (valued at $133.5 million)
The estimated yield at Westfield Mt Druitt in NSW (valued at $115 million)
<img src="/images/stories/2012/08/6point75percent.gif">
The estimated yield at Westfield Whitford City in WA (valued at $149.5 million)
<img src="/images/stories/2012/08/6point5percent.gif">
The estimated yield at Westfield Helensvale in Queensland (valued at $93.8 million)
The estimated yield at Westfield Plenty Valley in Victoria (valued at $73.7 million)
</body></html>

Westfield Sydney group's most valuable but Wollongong and North Rocks suburban malls delivering highest returns

<html><body>
The trendy riverside suburb of Bulimba has joined an exclusive group of just three Brisbane suburbs with a median house price of over $1 million, according to June quarter data from the Real Estate Institute of Queensland (REIQ).
Bulimba recorded a median price of $1.07 million, a rise of 33.8% over the June quarter, helped by the sale of a number of prestige waterfront properties.
Figures compiled by RP Data show 45 sales over the quarter, with just 11 of these priced over $1 million.
The top sale of the quarter was a six-bedroom Harry Poulos-designed home (pictured below) on 2,026 square metres of prime riverfront land sold by Judy Goodger Prestige Realty for $5.1 million and described as the “epitome of vibrant riverfront living”.
<img src="/images/stories/2012/08/bulimba.jpg">
The property last sold for $2.85 million in April 2007.
Another prestige sale was a six bedroom house at 33 Coutts Street, which sold for $1.72 million in April having previously sold for $1.375 million in 2006.
Brisbane’s other million-dollar suburbs (based on annual data to June 2012) are New Farm, directly opposite Bulimba on the other side of the Brisbane River, with a median price over the past 12 months of $1.175 million (up 6.8% over the past year), and Pullenvale, which has a median price of $1.05 million, down 2.8% over the past 12 months.
Less well known than its inner-city $1 million rivals, Pullenvale is situated around 15 kilometres south-west of the Brisbane CBD, a semi-rural affluent suburb where the median weekly income ($2,350) is almost double that for Queensland ($1,240). A third of residents earn over $3,000 a week, according to census 2011 data.
Current Pullenvale real estate listings show a number of homesteads on large land holdings for sale.
They include this grand <a href="https://www.realestate.com.au/property-house-qld-pullenvale-111219491" target="_blank">five-bedroom country homestead</a> on 4.2 hectares, offering space for horses, a few cattle or goats. The listing is held by Prue Greenwood from RE/MAX Property Centre Toowong &amp; Kenmore.
Two prominent Brisbane riverside suburbs have dropped off the million-dollar list.
House prices in Hamilton on the northern banks of the Brisbane River, next door to New Farm, have plunged 28.2% over the year to June from a median of $1.065 million for the 12 months to June 2011 to $765,000 for the 12 months to June 2012.
St Lucia, four kilometres southwest of the Brisbane CBD near the University of Queensland, has also fallen off the list of million-dollar suburbs, with a current median value of $940,000 compared with $1,04 million as of June 2011 – a fall of 13.8%.
Overall, the REIQ figures show that Brisbane house prices declined by 1% over the quarter to a median of $500,000.
The top-performing major region over the June quarter was Moreton Bay, which recorded median house price growth of 5.3 per cent to $379,000.
Moreton Bay, which is part of greater Brisbane, has a variety of more affordable suburbs that are still within commuting distance of the CBD. Its location and supply of affordable housing is therefore attractive to first home buyers and investors
A number of more affordable Brisbane’s suburbs performed well over the June quarter.
Runcorn’s median house price increased 7.4% to $440,500 and was up 2% over the year.
Runcorn is about 19 kilometres from the Brisbane CBD and is a popular suburb with young and established families, according to the REIQ. Housing in the local area remains predominantly single-detached dwellings with chamferboard and brick and tile houses the most common architectural styles.
Another suburb to record healthy median house price growth was Mansfield, with a median price increase of 7.6% to $476,250.
According to reiq.com.au, Mansfield is characterised by low-set weatherboard houses with traditional Australian backyards and is about 13 kilometres south-east of the CBD. The majority of the dwellings, constructed in the 1940s, 50s and 60s, are made of traditional weatherboard.
REIQ chief executive Anton Kardash says there was a noticeable slowdown in activity from May to June.
“The state government introduced legislation into parliament in mid-May to reinstate the principal place of residence concession on stamp duty from 1 July this year,” he says.
“The return of the concession meant home buyers, who were not first-timers or investors, could save up to $7,000 from 1 July, so it is little wonder that many decided to delay their purchases until after that date.
“Even though sales activity was lower in the month of June in particular, our June quarter data found no significant variations on median prices which means our market is still holding up well. The four rate cuts since November are also starting to have a positive effect on the market.”
</body></html>

Bulimba joins Brisbane’s exclusive million-dollar suburb club, helped by prestige waterfront sales: REIQ

<html><body>
Most of the low-doc loans banks provided to borrowers would have been rejected if they had made a "simple phone call to the borrowers”, banking consumer advocate Denise Brailey has testified before a Senate inquiry into behaviour of the banking sector post-GFC.
But she says banks chose “in a corporate decision” not to make this phone call to ascertain the true financial circumstances of the borrower.
Brailey, who runs the <a target="_blank" href="https://www.bfcsa.com.au/">Banking and Consumers Finance Support Association (BCFSA)</a>, brought with her to the inquiry a “small bundle” of 4,000 “falsified loan applications", which she said includes applications to every bank in Australia.
“The four majors are in there.
“They are all responsible, through a series of emails from banks to brokers, instructing the brokers how to get their deals across the line — 'make the deal fit' was their usual interpretation."
Brailey’s views are shared by former Mortgage Miracles mortgage broker Kate Thompson, who told the ABC’s 7.30 report that she was earning $5 million a year through low-doc lending, but all based on a “lie”.
“I do not think there was a bank or non-bank lender that wasn't doing it. I — from my files alone, I am certain I could evidence every single bank,” said Thompson, who was WA mortgage broker of the year in 2007 and is now facing fraud charges.
In her August 2012 Senate testimony, Brailey said lenders targeted older people, carers, people on parenting allowance and the aged pension.
According to Brailey, any lender who approved a loan without verifying the loan application data with the borrower was “imprudent, negligent and in many cases just plain reckless”.
In the case of the 25 Australian Bankers' Association (ABA) members, she claims they are "also in breach of their contract with the borrower to assess the borrower's ability to repay the loan, as provided for in article 25 of the Code of Banking Practice".
"No lender, and no holder of loan securities, including the government, should be allowed to maintain any loan which the lender would not have given had it applied the simplest of lending criteria tools—namely, verifying the loan application details with the borrower.
“And that simply was not done,” she said.
During her testimony Brailey described how low-doc lending was facilitated.
“The banks provided commissions for mortgage managers, mortgage originators and mortgage introducers that came down in a chain to employing brokers.”
Brailey also pointed the finger of blame at business development manager (BDMs), who were employed by the banks and who worked with mortgage brokers to get mortgage deals approved.
She says BDMs would teach brokers how to use an online loan servicing calculator and “put in certain parameters such that the calculator, belonging to the bank — engineered by the bank — would actually bring out a figure that was highly inflated, based on a possible rental from a property.
“There is just no truth in the document at all." 
Brailey says  the paperwork suggests brokers were merely following policy changes that were both rapid and carried massive risk, which was to be borne by the consumer.
“We have the loan application forms from over 400 people in the last six weeks. During that time, not one of them is a clean document—each one has been fraudulently dealt with.
“But the brokers will get the blame that they put the figures on, but the figures that they have written in the original loan application form are calculated by the banks' calculator through the system, as taught by the BDMs.
“This structure needs to be looked at before we can even start to work out whether we have a problem here in Australia.
“My evidence shows that we have a massive problem here in Australia with these low-doc loans," she said.
"I want to know what we are going to do about them, because the government has purchased around $20 billion worth of them.”
Brailey was referring to the program instigated by the government's Australian Office of Financial Management (AOFM) to buy mortgage-backed securities from lenders to keep the securitisation market afloat after foreign buyers of these mortgage bundles disappeared in the wake of the GFC.
</body></html>

Banks 'negligent and reckless' with low-doc loans: Denise Brailey in Senate testimony

<html><body>
Australia’s biggest apartment developer, Meriton, has been obliged to join<a href="https://www.propertyobserver.com.au/developments/incentives-on-offer-as-waterloo-developers-battle-government-timelines-to-entice-buyers/2012080955910" target="_blank"> </a>a spate of other NSW apartment developers<a href="https://www.propertyobserver.com.au/developments/incentives-on-offer-as-waterloo-developers-battle-government-timelines-to-entice-buyers/2012080955910" target="_blank"> </a>by offering incentives to encourage off-the-plan investors in its apartment projects.
Meriton is currently offering to refund stamp duty on six of its NSW apartment projects following changes announced in June to state government housing incentives. <a target="_blank" href="https://www.propertyobserver.com.au/developments/incentives-on-offer-as-waterloo-developers-battle-government-timelines-to-entice-buyers/2012080955910">Other builders have also come up with their own incentives to encourage sales.</a>
A spokesperson declined to comment on the launch of the incentives.
Meriton boss Harry Triguboff was a vocal critic of the changes to NSW government handouts announced in the June budget, which resulted in investors losing out on generous stamp duty savings, while first-home buyers must wait until October 1 for a more generous scheme if they are buying a new home.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/nsw-budgets-needlessly-complex-artificial-deadlines-have-short-term-and-long-term-consequences-for-residential-property/2012061455119">At the time these changes were introduced Triguboff lamented</a> that they would kill off investors “while still not giving birth to the first-home buyers [until October 1]”.
Up until June 30 anyone, including investors, could save as much as $22,490 under the NSW Home Builders' Bonus, which provided a full stamp duty exemption for new homes up to a value of $600,000.
This has been replaced with a $5,000 government handout for investors and non-first-home buyers for new homes up to a value of $650,000.
First-home buyers can still access handouts worth $27,240 ($7,000 first-home owners grant plus up to $20,240 under the First Home – New Home scheme).
However, under the June budget changes, they will get an extra $8,000 from October 1 with the doubling of the first-home owners’ grant to $15,000, but only if they buy a new house or apartment.
Meriton's stamp-duty refund campaign comes as Meriton continues to acquire sites in Sydney and build its pipeline of future apartment projects.
Meriton has acquired five sites since the start of the year with capacity for over 2,000 units and an end value of $1.3 billion. The most recent purchase was on McEvoy Street in Waterloo, with plans for 220 apartments.
Meriton built 1,438 apartments last year and is expecting to build 1,570 this year, The Australian reported. Triguboff says a high proportion of the apartments will be held as serviced apartments. By the end of the year Meriton will have nearly 6,000 serviced apartments in its portfolio.
Meriton is considering buying a Brookfield's site on the corner of Pitt Street and Bathurst Street in the Sydney CBD, which is proposed as the site for Sydney's tallest residential tower, rising to 65 storeys.
<a target="_blank" href="https://www.meriton.com.au/properties/oceanvale-apartments-warriewood/">Meriton is currently offering a stamp duty refund on its Warriewood development </a>on Sydney’s northern beaches.
Prices start from $330,000 on a studio apartment and $470,000 for a one-bedroom apartment.
Stamp duty payable would be $10,340 on the studio apartment and $16,640 on the one-bedroom apartment, with investors also eligible for the $5,000 state government handout.
The five other projects Meriton is offering stamp duty refunds are:
<ul>
<li>Rhodes Peninsula, apartments prices under $650,000</li>
<li>Epping Park, apartments prices under $650,000</li>
<li>Macquarie, apartments priced under $700,000</li>
<li>Fusion, Arncliffe, apartments prices under $650,000</li>
<li>Alcove, St Ives, apartments prices under $650,000</li>
</ul>
</body></html>

Meriton looking to encourage off-the-plan buyers with stamp duty savings

<html><body>
A private investor has snapped up the distinctive Mitre Tavern in the Melbourne CBD for $6.25 million.
The thriving English-style pub with a Queen Anne feel dating back to its 1910s makeover was passed in at auction last week for $6.05 million.
It had pre-auction hopes of $6.5 million, with selling agents Kristian Peatling and Warwick Bramich saying its current net annual income is $430,000 plus GST.
<a href="https://www.propertyobserver.com.au/news/pints-on-offer-but-few-punters-as-melbourne-watering-hole-the-mitre-tavern-passed-in-at-%24605-million/2012081055960">The August 10 auction drew a large crowd</a> – many from the property industry – but received just two bids
The highest bidder had first right to negotiate with the vendor to purchase the tavern.
The selling agents have not disclosed the identity of the buyer.
Set on Bank Place, between Collins and Little Collins streets, the pub last traded at $6.3 million in 2008 when bought by Toorak investor Ian Hicks from the hotelier Robertson family. There was a $4.6 million transfer in 2006 and a $5.75 million transfer in 2004.
Classified as being of historical and social significance to Victoria, the Mitre claims to hold one of the oldest continuous pub licences, granted in 1868 when a two-storey private dwelling was converted to a drinking house.
The bluestone coaching house Mac's Hotel in Franklin Street has been operating since 1853.
It's being offered with a long-term lease.
</body></html>

Mitre Tavern sells for $6.25 million to private investor

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Joel Robinson

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

[smartcode_project:default project_id=139989 project_image_fid=350986]

The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

[smartcode_project:default project_id=139989 project_image_fid=359152]

The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

ACT abolishes stamp duty for first home buyers

A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.

The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.

A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.

[smartcode_project:default project_id=134800 project_image_fid=370648]

Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.

For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.

A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.

[smartcode_project:default project_id=134800 project_image_fid=370647]

The attention to detail extends beyond the rooftop.

Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.

[smartcode_project:default project_id=134800 project_image_fid=372541]

The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.

Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.

Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.

[smartcode_project:default project_id=134800 project_image_fid=351535]

Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.

Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.

For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.

[smartcode_project_cta:default project_id=134800]

Rooftop pool, private dining and skyline gardens to crown West Village's final apartment release, Callista on Park

<a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.

Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.

Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="b84917a1-0d75-49b9-888c-ddf7ebfd6692" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/NEW2026_Wahroonga_Walkway.gif?VersionId=Gk3_xi5ssYfalmwuQQ5umQakddceC31j" />

<a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.

The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.

&nbsp;

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" />

Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.

Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.

Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.

[smartcode_project:default project_id=135247 project_image_fid=262183]

Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.

The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.

[smartcode_project:default project_id=135247 project_image_fid=364995]

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.

Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.

[smartcode_project_cta:default project_id=135247]

Larry Schlesinger

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News